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Rising ownership costs to hurt India's commercial vehicle volume growth: Fitch
Reuters
·
1y ago
Medial
India's commercial vehicle sales volume growth is expected to slow down to low-to-mid-single digits due to increasing ownership costs, according to Fitch Ratings. Rising regulatory requirements, inflation, and high interest rates are driving up the costs of owning commercial vehicles, which is impacting purchase decisions. These factors have resulted in a 3.3% year-on-year drop in commercial vehicle wholesale volume in the second quarter of FY23. Fitch expects medium and heavy commercial vehicles to have faster volume growth compared to light commercial vehicles.
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Euler Motors’ net loss widens to Rs 227 crore in FY24
YourStory
·
9m ago
Medial
Euler Motors, an electric commercial vehicle manufacturer, has reported a net loss of Rs 226.9 crore in the financial year ending March 31, 2024, compared to a profit of Rs 175 crore in the previous year. The company's operating revenue increased threefold to Rs 189 crore in FY24, with material costs and total expenses also rising significantly. Despite the losses, Euler Motors raised an additional Rs 200 crore in Series C funding and expanded its sales and presence across 22 cities, targeting the small commercial vehicle segment in the future.
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Tata Motors demerger to enhance CV business globally, says Girish Wagh
Livemint
·
1y ago
Medial
Tata Motors Executive Director Girish Wagh believes that the proposed demerger of the automotive business into two listed entities will enhance the commercial vehicle vertical's agility and enable the company to capitalize on global opportunities. Wagh expects the commercial vehicle industry to have an exciting year in FY25 and plans to create a world-class company in the CV space. Meanwhile, Tata Motors Passenger Vehicle MD Shailesh Chandra predicts a moderate growth rate for the passenger vehicle industry with a rising preference for safer, smarter, and greener vehicles.
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EVs likely to hit 30-35% of annual vehicle sales in India by FY30
Economic Times
·
6m ago
Medial
Electric vehicles (EVs) are projected to account for 30-35% of annual vehicle sales in India by FY30, according to a report by SBI Capital Markets. With EV penetration rising from less than 1% in 2019 to 7.4% in 2024, India is poised to increase its adoption due to growth drivers like low vehicle ownership. Significant investments in battery production and charging infrastructure, supported by government incentives, are expected to accelerate this transition.
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Tata Motors, other truck and bus makers urge govt to exempt small commercial vehicles from CAFE 3 norms
Economic Times
·
1m ago
Medial
India's leading truck and bus manufacturers, including Tata Motors and Mahindra & Mahindra, are requesting the government to exempt small commercial vehicles (weighing under 3.5 tonnes) from the stringent Corporate Average Fuel Efficiency (CAFE) norms. They argue these regulations impose additional costs, affect affordability, and impact small operators' livelihoods. The industry highlights the severe affordability gap compared to Europe, emphasizing the need for affordable policies to support small commercial vehicle owners.
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GCPL reports dip in December quarter profit amid weak urban demand, price surge | Company Business News
Livemint
·
6m ago
Medial
Godrej Consumer Products Ltd (GCPL) reported a 28% decline in Q3 profit due to weak urban demand and rising palm oil prices, affecting their standalone profit, which fell to ₹341.54 crore. Revenue rose 4% to ₹2,237 crore, but volume growth was flat. The company's Ebitda margin decreased to 22.6% due to higher costs. Internationally, GCPL saw positive results, including 6% growth in Indonesia. Personal wash volumes declined amidst cost hikes.
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Fitch Ratings raises India's 2024-25 GDP forecast to 7.2%
VCCircle
·
1y ago
Medial
Fitch Ratings has upgraded India's GDP growth forecast for the 2024-25 fiscal year to 7.2%, a 0.2% increase from its previous projection. The ratings agency also raised its global growth forecast for 2024 to 2.6%, citing improved confidence in European recovery prospects, a revive in China's export sector, and stronger domestic demand in emerging markets (excluding China). Fitch still expects the Reserve Bank of India to reduce its policy rate by 25 basis points in both 2025 and 2026.
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US effective tariff on Indian goods jumped to 20.7% from 2.4% last year: Fitch Ratings
Economic Times
·
3d ago
Medial
The effective tariff rate on Indian goods imposed by the US increased to 20.7% in 2025 from 2.4% in 2024, according to Fitch Ratings. This rise poses a risk to India's economic growth. Goldman Sachs reduced India's economic growth forecast to 6.5% for 2025 due to these tariffs. Moody's Ratings noted the tariffs could hinder India's manufacturing sector ambitions, though India's economy remains resilient due to its relatively low trade reliance.
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Tata Motors to raise commercial vehicle prices by up to 3% from this October
Livemint
·
1y ago
Medial
Tata Motors is set to increase the prices of its commercial vehicles by up to 3% from October 1st. This is the third price hike by the company this year in order to offset the impact of rising post-input costs. The previous hikes were implemented in January and March to comply with new emission norms. The implementation of stricter emission norms has resulted in increased costs for automakers in India. In addition to this, Tata Motors is focused on expanding its presence in the electric vehicle market and intends to allocate $2 billion towards the development of battery-powered models by 2027.
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Hyundai India Shares May Throttle on Back of Bold Expansion, Launch Plans
OutlookIndia
·
2m ago
Medial
Hyundai Motor India plans to launch 26 new models, including 20 internal combustion engine cars and 6 electric/hybrid vehicles, by FY30 to reclaim its No. 2 position in the Indian automotive market. This expansion, amid competition from Mahindra & Mahindra and Tata Motors, is aimed at strengthening Hyundai's market presence. Despite a 4% YoY net profit decline due to rising costs, the company anticipates domestic growth aligning with industry estimates while targeting higher export volume growth.
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Gold loan sees fastest growth in overall securitisation volume in June quarter
Economic Times
·
1m ago
Medial
In the June quarter, gold loan securitisation marked the fastest growth in overall securitisation volumes, reaching Rs 5,390 crore, or 11% of the total Rs 49,000 crore securitisation volume, according to CRISIL Ratings. This surge followed the lifting of regulatory restrictions on a major originator. Meanwhile, the share of vehicle loans held steady at 41%, while mortgage-backed and microfinance loans saw declines due to lower origination volumes and rising delinquencies.
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