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E-vehicle manufacturers in Ludhiana demand GST reduction on batteries

admin — Sat, 22 Aug 2020 08:13:15 +0000

The e-vehicle manufacturers in Punjab’s Ludhiana have said that even though the sales of e-vehicles would increase after permission of selling and registering them without pre-fitted batteries, the Goods and Services Tax (GST) on the batteries should be reduced.

The e-vehicle manufacturers said that this new rule is expected to increase the sales of vehicles in the country. However, this would affect the pockets of the customers as the GST on batteries remains high.

At the same time, some said that the sales and registration of e-vehicles without pre-fitted batteries would not make much difference in the sales as the price of the e-vehicle with or without the battery will remain the same.

“The main challenge remains GST which is higher when customers will get batteries attached separately”

Amandeep Singh, AGM E-bike, Avon Cycle

When the batteries came with the e-vehicles, the GST imposed on batteries was around 5 per cent, but now it will be 28 per cent if bought separately. They added that if energy service provider companies make the batteries available at a lower price, then it will benefit the customers directly.

Source:TOI

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Used trucks, a new opportunity for organised sector

admin — Fri, 21 Aug 2020 14:26:11 +0000

With the slowdown in truck sales and now the pandemic causing nearly 80% drop in new vehicle sales, companies are focusing on the used business.

Daimler India Commercial Vehicles announced its entry into organised used truck retail with BharatBenz Exchange. “The company expects to add 10% customers to its new truck business through the exchange programme and will extend it to include buses too,” said MD & CEO Satyakam Arya.

Others like Volvo Eicher Commercial Vehicles (VECV) and Tata Motors are re-focussing on this segment to get around the 20% excess capacity that the new axle load norms have built into the market. “We have a separate vertical which helps customers or financiers remarket used trucks and buses. Around 50% of our dealers are certified to handle, refurbish and offer extended warranty on used CVs,” said Vinod Aggarwal, MD & CEO, VECV.

Source:TOI

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Auto component industry revenue declines 11.7% in FY20

admin — Thu, 20 Aug 2020 20:15:40 +0000

The total turnover of the automobile component manufacturing companies in India has declined by 11.7 percent to Rs 3.49 lakh crore in financial year 2019-2020 majorly due to prolonged slowdown in the auto sector and the outbreak of coronavirus.

In FY’19, the revenue of the sector grew by 14.5 percent to Rs 3.95 lakh crore.

According to Deepak Jain, President, ACMA, subdued vehicle demand, investments made for transition from BS-IV to BS-VI, liquidity crunch, lack of a clarity on policy for electrification of vehicles and slowdown in key export markets, among others, had an adverse impact on the performance of the components sector in India as also on its expansion plans. All these factors pulled back the domestic auto component industry by almost two years, Jain noted.

Speaking about the current situation, Jain elaborated, “The auto component industry has displayed remarkable resilience in wake of the lockdown; the industry faced acute challenges on the front of working capital, production and dysfunctional logistics.”

Source: TOI

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E-vehicle sales in Mumbai rise by 1,360% in 3 years, most for bikes

admin — Sun, 16 Aug 2020 13:40:43 +0000

An official said many e-scooters were purchased in Mumbai, while dedicated e-vehicle shops have also come up in the suburbs which is a good trend as they operate silently, with zero emissions.

Over three years, electric vehicle registrations grew by 407% in Maharashtra and 1,360% in Mumbai. Latest transport department statistics show that from 1,459 electric cars and scooters registered in 2017-18 in the state, the figure rose to 7,400 in 2019-20. The figure jumped from 46 to 672 in Mumbai.

Source:TOI

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Tata Motors sales down 48% in September at 36,376 units

admin — Tue, 01 Oct 2019 20:22:19 +0000

Tata Motors said its commercial vehicle sales in the domestic market last month stood at 24,279 units as compared to 46,169 units in the year-ago month, a decline of 47 per cent.

Exports of commercial vehicles were at 3,800 units in September as against 5,250 units in the same month last year, down 27.6 per cent, it said.

“With the ongoing subdued demand, we continued our focus on system stock correction by driving retail and aligning production,”

Tata Motors President Commercial Vehicles Business Unit Girish Wagh said.

“We are monitoring the impact of the relief package announced by the government, and look forward to improved demand from revival in consumption and spend in infrastructure projects,”

he added.

Source livemint

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Post Format: Gallery

admin — Sat, 10 Dec 2016 07:24:14 +0000

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3-wheeler sales grow 13% in H1

admin — Wed, 19 Oct 2016 10:11:37 +0000

Three-wheeler sales had grown by mere than one per cent in FY16. The two top three-wheeler players in the country, Bajaj Auto and Piaggio Vehicles, are driving volumes. Bajaj has seen volumes grow 27 per cent to 149,587 units in H1. Bajaj, which is the biggest three-wheeler maker, has expanded its market share from about 47 per cent in FY16 to 52 per cent now. For Bajaj, the fourth biggest two-wheeler player in the domestic market, the domestic sale of three-wheelers is growing at a significantly higher rate to two-wheelers.

Piaggio, which enjoys a 28 per cent market share in three-wheelers, has grown domestic volumes by almost six per cent to 81,753 units in H1. Mahindra and Mahindra, the third biggest player, saw a flat performance. Some, however, posted a drop in volumes. Atul Auto has reported a six per cent decline during H1, while TVS Motor has seen its sales shrink by over four per cent.

Source Business Standard

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Media: Twitter Embeds

admin — Tue, 15 Mar 2011 15:47:16 +0000

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Bajaj Auto to increase capacity of three-wheeler plant by nearly 20%

admin — Mon, 07 Sep 0201 09:00:39 +0000

The Pune-based company and India’s largest three-wheeler manufacturer will raise production at the plant to 1 million units from 840,000 (as of the end of 2017-18), paving the way for increased penetration of three wheelers which is available in passenger and goods carrying versions.

Three-wheeler volumes in India have seen a solid surge in the last 12 months reporting a growth of 88 percent to 435,000 units. The surge was on account of release of new permits in Maharashtra, Karnataka, Andhra Pradesh and Delhi.

Bajaj is the market leader with 86 percent market share in the alternate fuel 3 wheelers followed by Italian company Piaggio.

Source: moneycontrol

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