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<ul><li>The Indian electric two-wheeler market has reported a year-on-year decline in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li>TVS Motor and Bajaj Auto occupy the second and third spots respectively.</li></ul>The Indian electric two-wheeler market recorded good growth in November 2024, recording the third-best month this year. The month of November was good for Indian electric two-wheeler makers, which comes as a treat after a record-breaking festive month of October 2024. October 2024 emerged as the best month for automakers in 2024, with 1,39,783 electric two-wheelers sold during the month. In November 2024, 1,18,924 electric two-wheelers were sold in India, up from 92,116 electric two-wheelers sold in November 2023, recording a 29% year-on-year growth. Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up 62% of Indian EV sales in November 2024 in terms of numbers. <h2>Ola Electric leads, but market share declines</h2>Ola Electric continues to lead the Indian electric two-wheeler market with sales of 29,191 scooters in November 2024, down from 30,073 scooters sold in November 2023. The company’s market share continues to decline, with the company commanding a market share of 24.5% in November 2024, down from 33% in November 2023. The company has been under the scanner for<a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms"> rising customer complaints</a> and has also received a notice from the Central Consumer Protection Authority, the country’s consumer watchdog. While the company has said that it is rapidly expanding its service network, complaints on social media continue to pile up. <h2>TVS Motor and Bajaj Auto fight for the second spot</h2>India’s legacy automakers TVS Motor and Bajaj Auto continue to fight closely for the second spot. TVS Motor recorded a sale of 26,971 electric scooters in November 2024, up from 19,155 scooters sold in November 2023, recording a growth of 40.8%. The company’s market share has increased from 21% in November 2023 to 23% in November 2024. On the other hand, Bajaj Auto has emerged as a close third, with 26,163 electric scooters sold in November 2024, up from 11,843 electric scooters sold in November 2023, recording a 120.92% year-on-year growth. The company commands a 22% market share in November 2024, up from 20% in November 2023. It's not just the second spot, TVS Motor and Bajaj Auto are now inching close to Ola Electric and if the trend continues, may even dethrone the Bhavish Aggarwal-led company in the coming months. Ather Energy is in the fourth position, with 12,741 electric two-wheelers sold in November 2024, up from 9,342 scooters sold in November 2023, recording a 36.38% year-on-year growth. The company has slightly increased its market share from 10% in November 2023 to 11% in November 2024. Hero MotoCorp takes the fifth spot with 7,309 electric scooters sold in November 2024, up from 3,047 scooters sold in August 2023, recording a 139.88% year-on-year growth. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-with-snapdragon-8-elite-to-be-launched-globally-in-january/articleshow/115920790.cms">OnePlus 13 with Snapdragon 8 Elite to be launched globally in January</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-will-reportedly-launch-three-phones-in-2025-including-the-phone-3/articleshow/115891768.cms">Nothing will reportedly launch three phones in 2025, including the Phone (3)</a>

Electric two-wheeler sales grow in November 2024 – TVS and Bajaj fight for the second spot

<ul><li>The Indian electric two-wheeler market has reported a slight month-on-month increase in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li><keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> occupy the second and third spots respectively.</li></ul> The Indian electric two-wheeler market has reported subdued sales in September 2024, with 88,156 <keyword id="20345883" type="General" weightage="20" keywordseo="electric-two-wheelers" source="keywords">electric two-wheelers</keyword> sold during the month, slightly up from 87,256 electric scooters sold in August 2024. While this is considerably lower than the 1,07,472 electric scooters sold in July 2024, there has been a 40% year-on-year growth when compared to the 63,184 electric scooters sold in September 2023. Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up nearly 60% of Indian EV sales in September 2024 in terms of numbers. <h2>Ola Electric leads but with a lower share</h2>Bhavish Aggarwal-led Ola Electric continued to lead the Indian electric two-wheeler market with a 27% market share, which is considerably lower than the 39% share it enjoyed in July 2024. In August 2024, the company reported a 31% market share. The company sold 23,965 electric scooters in September 2024, up from 18,536 scooters sold in September 2023. However, this is lower than the 26,928 scooters the company sold in August 2024. Ola Electric has been plagued by customer complaints, with reports suggesting a surge in issues with its scooters. <h2>Legacy brands power through</h2>Bajaj Auto and TVS Motor, legacy two-wheeler brands have started inching closer towards Ola Electric, which once dominated the Indian electric two-wheeler market. Bajaj Auto, with its Chetak Electric scooter, has occupied the second spot for the first time, beating TVS Motor. The company recorded its highest-ever sales in September 2024 with 18,933 scooters sold, up from 7,107 scooters sold in September 2023, recording a 166% year-on-year growth. With this, the company now enjoys a 21.5% market share. TVS Motor on the other hand sold 17,865 electric scooters in September 2024, up from 15,523 scooters sold in September 2023, recording a 15% year-on-year growth. With this, the company reported a 20.3% market share in September 2024. <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword>, which is expected to soon raise funds through an initial public offering (IPO) sold 12,579 electric scooters in September 2024, up from 7,169 scooters sold in September 2023, recording a 75% year-on-year growth. <div type="Article" hostid="261" msid="113214971" title="Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI" mstype="2" mssubtype="0"></div> Ather Energy, which had a headstart in the Indian electric two-wheeler market has now been pushed to the fourth spot, with a market share of 14%. The next on the list is Hero MotoCorp, which is a major investor in Ather Energy. The company sold 4,174 electric scooters in September 2024, up from 533 scooters sold in September 2023, registering a 684% year-on-year growth. Despite its late entry into the EV segment, Hero MotoCorp already enjoys a 5% market share. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/bmw-ce-02-electric-scooter-launched-in-india-at-4-50-lakh/articleshow/113849708.cms">BMW CE 02 electric scooter launched in India at ₹4.50 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a>

Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain

<ul class="summary-list"><li>Morgan Stanley analysts' bull case for Tesla would see the stock soar to $500 a share. </li><li>They said Tesla's autonomous technology could be the "great unlock" that turns it into an AI giant.</li></ul>Tesla shares have a path to big upside ahead if the electric car company can expand beyond autos and if CEO Elon Musk flexes newfound political muscle in a second Donal Trump presidency, Morgan Stanley analysts said on Tuesday. The analysts, led by Adam Jonas, forecast a rise to $500 a share in their most bullish scenario, a gain of about 50% from prices on Tuesday afternoon. The stock was trading around $332.45 at 1:58 p.m. ET. They said that Tesla, with 80% of its year-to-date revenues coming from vehicle sales, is frequently excluded from the enthusiasm surrounding artificial intelligence, datacenters, renewable energy, robotics, and on-shoring. However, they think that could change in the coming years if Tesla can successfully implement some of its initiatives outside the core car business. "Tesla is a car company. That is a fact. However, we also view Tesla as a collection of call options," the analysts said in a Monday note. "Many of these call options have exercise dates far out into the future. Many may not be exercised at all. Others may be starting to move into the money right now."The analysts point in particular to its energy sector, which is already showing huge growth even though few investors cared about it just a few quarters ago. Last year, Tesla's storage deployments more than doubled, and are on track to do so again this year, the analysts say.That means it's no longer controversial to suggest Tesla's energy business could soon be more valuable than its auto business, they wrote.They also see the potential for its autonomous driving capabilities to be the "great unlock" that transforms Tesla into an AI giant."In our opinion, the winners in autonomy (whether in cars or other form factors) will be those firms who can combine capabilities in data, robotics, energy, AI, manufacturing and downstream infrastructure," the analysts said. "We believe Tesla has the capability to benefit from this theme over time."The emergence of other themes will be helped by Musk's potentially greater political influence in coming years, the analysts say.Since the election, investors seem to be betting that Musk—and his companies—will benefit from his close ties to the President-elect. Musk became a key Trump ally in the final months of the campaign, <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-gop-spending-130-million-2024-10">donating millions</a> and voicing his support in key swing states like <a target="_blank" href="https://www.businessinsider.com/elon-musk-pennsylvania-america-pac-donald-trump-harris-2024-11">Pennsylvania</a>.The analysts said it is clear that Musk has gained considerable political influence. If he applies that influence to advance policies to advance EVs, robotics, and renewables, it could accelerate Tesla's journey beyond being just a carmaker."Setting the United States on a course for EV/AV/Robotics/Renewable independence is going to involve government and industrial partnership on a scale some have compared to the Manhattan Project, US Highway Act or the Apollo Missions. Elon Musk's emergence from a political 'outsider' to having a voice in potential policies may, at some level, accelerate Tesla's journey beyond autos," the analysts say.Musk said he would be interested in <a target="_blank" rel="" class="" href="https://www.businessinsider.com/donald-trump-rally-elon-musk-save-department-government-efficiency-2024-10">running a new "Department of Government Efficiency"</a> to slash costs and reduce the federal budget. Morgan Stanley's bullish call comes as Tesla's stock has seen <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-trump-win-elon-musk-election-tsla-2024-11?_gl=1*1exg2qk*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTQyNzQ0OS4zOTQuMC4xNzMxNDI3NDU3LjUyLjAuMA..">huge inflows</a> amid a broader <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">post-election rally</a>. The stock has risen 34% since the election outcome was called, and has continued trading around a two-year high.

Tesla stock could soar 50% as it broadens beyond autos and as Musk exerts more political influence, Morgan Stanley says 

<ul class="summary-list"><li>European stocks are pricing in a Trump win, Barclays said.</li><li>Exporters have underperformed the broader European market by 15% since spring.</li></ul>With the US election less than two weeks away, European stocks have already been pricing in a Donald Trump victory, according to Barclays.The firm noted that a basket of European exporters — or those companies most vulnerable to tariffs — has underperformed the benchmark European Stoxx 600 by 15% since early spring.Barclays says this is reflective of investors preemptively bracing for Trump's tariff policy, which has been a cornerstone of his presidential-election platform, under the expectation he will win.<div type="image" title="Barclays chart showing how stocks exposed to tariffs have underperformed the broader index" height="1670" width="2136" msid="114514786" hostid="261" sizebytes="87238"></div>"Tariff concerns have been a drag on EU equities' relative performance year-to-date," Barclays analysts led by Emmanuel Cau wrote on Wednesday. "In the event of a full-blown trade war, we could see up to a high single-digit drag on EPS growth with Germany, Italy, Cap Goods, Autos, Beverages, Tech, Chemicals most at risk."Barclays did note that some European firms have relocated production to the US since 2018, which could somewhat limit the impact of Trump's trade policy on the whole market. But it's still worried about the possible side effects."The second-order impact through lower growth and higher inflation (i.e. stagflation) could be more severe, in particular in the case of retaliation and a trade war," Barclays wrote.The US will also feel the impact. The firm forecasts Trump tariffs will be a 3.2% drag on S&amp;P 500 earnings-per-share next year, with the most negative impact affecting materials, discretionary, industrials, technology, and healthcare. Beyond that, retaliatory measures would generate an additional 1.5% hit to forward EPS.The note suggested a possible rebound for Europe's markets if Kamala Harris wins. Her policy would also boost clean and renewables in the region, which have also underperformed on the chances of a Trump win.

One global market is already pricing in a Trump victory

<ul class="summary-list"><li>Tesla investors will be closely watching profit margins when the company reports earnings on Wednesday.</li><li>Tesla stock is down 13% this year compared to the S&amp;P 500's 22% gain.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/TSLA-stock">Tesla</a> will report third-quarter earnings results after the market close on Wednesday, and Wall Street will be hyper-focused on the company's core auto business.That's a shift from <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-cybercar-analysts-self-driving-fleet-ai-2024-10">the recent hype surrounding Tesla's robotaxi,</a> which is still years away from hitting the market. At the end of the day, Tesla gets the bulk of its revenue and profits from selling cars, and Wall Street wants to see the company return to growth mode in its core auto business.The company is on track to deliver about the same number of cars this year as it did in 2023, and it has seen a steady deterioration in its profit margins due to aggressive price cuts earlier this year.Tesla stock is down 13% year-to-date, compared to a 22% gain for the <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> over the same time period.However, some analysts on Wall Street expect the upcoming third-quarter earnings print will be a sign that the worst is behind Tesla.Here's what Wall Street expects from Tesla's upcoming earnings report.<h3 id="c6cb087f-2fb6-4381-a552-4a20fa42e990">Barclays: 'Back to fundamentals'</h3>"With Tesla's Robotaxi Day passed, we believe the focus for Tesla at least for now shifts back to fundamentals," Barclays analyst Dan Levy said in a note last week.Levy expects Tesla to beat earnings estimates, with estimated earnings per share of 68 cents versus consensus of about 60 cents."After a run of sharply negative revisions to earnings estimates, Tesla estimates have largely stabilized. Volumes are expected to be flat y/y, margins have troughed and are set to improve, reg credit revenue can be a solid boost as other OEMs rely on Tesla to achieve compliance, Tesla Energy is generating solid growth, and opex may trend lower for now as Tesla realizes the cost saves of headcount reductions," Levy said.Those points, along with the fact that Tesla stock sold off after its robotaxi event, give Levy confidence that the company's third-quarter earnings will be a positive catalyst for the stock.Aside from Tesla discussing the earnings results and guidance on its conference call, Levy said any commentary about plans for a lower cost vehicle could move the stock."We also wouldn't dismiss the notion that Tesla could forgo a 'Model 2.5,' instead focusing its resources on rolling out the [autonomous vehicle] strategy — such a move would likely be treated quite negatively by the stock," Levy said.Barclays rates Tesla at "Equal Weight" with a $220 price target.<h3 id="55b61526-09a2-4615-8aee-89c3f03d9563">Wells Fargo: 'Volumes now, margin pain later"'</h3>After Tesla reported "disappointing" <a target="_blank" class="" href="https://www.businessinsider.com/tesla-q3-deliveries-sales-stock-price-2024-10">third-quarter deliveries earlier this month</a>, Wells Fargo expects the company to make up for the shortfall in sales by offering "aggressive finance promos globally," analyst Colin Langan said in a note last week."We est. the Q3 promotions are equivalent to ~8% lower effective px cut," Langan said, adding that he expects the company to miss Wall Street's third-quarter earnings estimates.Langan estimates that Tesla's automotive gross margin excluding credits will be 13.6% in the third quarter, down from 14.6% in the previous quarter.Wells Fargo rates Tesla at "Underweight" with a $120 price target.<h3 id="33c229bf-f9ee-44cc-ab57-9c97d0ce38bb">Wedbush: 'Margins will be a key focus'</h3>Wedbush analyst Dan Ives is staying bullish on Tesla stock, arguing that the company should show a return to growth in its third-quarter earnings call and forward guidance."We expect generally in-line 3Q headline numbers with some slight upside likely on the margins front showing a bottoming on this key metric," Ives said in a recent note.Ives said Tesla should be able to deliver 1.8 million vehicles in 2024, and that should rise to more than 2 million vehicles in 2025.But perhaps more important than vehicle deliveries for Wall Street is Tesla's profit margins."Margins will be a key focus on the conference call"," Ives said.He added that investors will want to see this key metric trending in the high teens for the third and fourth quarters and heading toward 20% in 2025. That should soothe fears about further price cuts and convince investors that better days are ahead, Ives said. Wedbush rates Tesla at "Outperform" with a $300 price target.<h3 id="bbd2143e-2db9-4747-b579-3bcc60b4465c">Bloomberg Intelligence: 'More pain to come'</h3>Tesla's aggressive price cuts of 20% over the past year, combined with a plunge in trade-in values for Tesla vehicles, suggests that there's "more pain to come."That's according to Bloomberg Intelligence director of credit Research Joel Levington, who said in a Tuesday note that Tesla's price declines are putting its luxury brand identity at risk.Additionally, Levington said that with Tesla facing more competition, it needs to release a lower-cost vehicle."Tesla is poised to give up share as rivals from Acura to Volvo create a tsunami of new EV products that will flood the markets, making the lower-cost Model 2 and updates of its data product line critical," Levington said.

Wall Street shifts focus back to Tesla's core auto business ahead of earnings as robotaxi hype fades

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

India’s automobile sector is expected to get a boost during the upcoming festive season, with a forecasted growth of over 15%, particularly in the two-wheeler (2W) segment. According to an ANI report, this projection comes from a research report by <keyword id="23122458" type="General" weightage="20" keywordseo="nuvama-wealth-investment-limited" source="keywords">Nuvama Wealth Investment Limited</keyword>, which attributes the growth to increased customer enquiries and a resurgence in rural demand. A key factor driving this surge is the anticipated revival of rural demand, which contributes more than 55% to the two-wheeler market. According to the report, rural areas are showing strong signs of recovery, and the increased enquiries suggest a positive outlook for sales. This bodes well for mass-market original equipment manufacturers (OEMs) such as TVS Motors, <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero MotoCorp</keyword>, and <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword>. The launch of new models, including the <keyword id="22875740" type="General" weightage="20" keywordseo="tvs-jupiter" source="keywords">TVS Jupiter</keyword> and Hero Xtreme 125R, is also expected to boost two-wheeler sales. In contrast, premium OEMs like Eicher Motors, which produces Royal Enfield motorcycles, may not experience the same level of demand growth. In the passenger vehicle segment, rural demand accounts for over 35% of the market. While growth in this area is expected to be in the single digits, it is anticipated that utility vehicles (UVs) will outpace hatchbacks with double-digit growth. This trend will likely benefit manufacturers such as Mahindra &amp; Mahindra and Tata Motors, with new models like the Mahindra Thar Roxx and Tata Currv expected to attract a significant share of customers. On the other hand, <keyword id="19909974" type="General" weightage="100" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, traditionally a strong player in the hatchback segment, may see more subdued growth compared to its rivals in the UV space. In preparation for the festive season, dealers have ramped up their inventories for both two-wheelers and passenger vehicles. According to the report, dealers have built up stocks for 1.5 to 2.5 months, signalling confidence in the market’s potential for increased sales. This build-up of inventory demonstrates that both manufacturers and dealers are optimistic about the surge in demand during the festive period. While two-wheelers and passenger vehicles are set to lead the charge this festive season, the commercial vehicle (CV) market is expected to grow at a more modest pace. Demand for medium and heavy commercial vehicles (MHCVs) is projected to increase in the low single digits, primarily driven by replacement demand as freight availability improves across India. Similarly, the tractor segment is expected to perform well over the next few years, with volume growth likely in the high single digits from FY24 to FY26. Tractors are seen as a strong performer in the long term, and the sector is poised to benefit from India’s agricultural demand and rural recovery. Looking beyond the festive season, the report suggests that the long-term outlook for the two-wheeler and tractor segments remains robust. Historical sales cycles, which typically span two to four years, suggest that these sectors could reach new peaks in the coming years. As a result, the report forecasts high single-digit volume growth for two-wheelers and tractors through FY24-26, while passenger vehicles and commercial vehicles are expected to see low single-digit growth. Overall, the Nuvama report paints a positive picture for the Indian automobile sector. (With PTI inputs)

Festive season to drive over 15% growth in Indian Automobile Market, says report

<ul><li>The Indian electric two-wheeler market has reported a month-on-month decline in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li><keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> and <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> occupy the second and third spots respectively.</li></ul>After months of subdued sales, the Indian electric two-wheeler market bounced back in July 2024, crossing the 1 lakh mark. Sales have once again slowed down in August 2024, declining by 17% month-on-month. In the month of August 2024, 88,451 electric scooters were sold in India, up from 62,778 scooters sold in August 2023, reporting a 41% year-on-year growth. However, this was considerably lower than the 1,07,472 electric scooters sold in July 2024. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up 57% of Indian <keyword id="19914921" type="General" weightage="20" keywordseo="EV-sales" source="keywords">EV sales</keyword> in August 2024 in terms of numbers. <h2>Ola Electric continues to lead the market</h2>A month after its initial public offering (IPO), Ola Electric reported a sale of 27,506 units in August 2024, up from 18,749 vehicles sold in August 2023, reporting a 46.7% year-on-year growth. This is however lower than its July 2024 sales of 41,711 vehicles. With this, the company currently occupies a 31% market share, down from 39% in July 2024. <h2>TVS Motor continues to occupy the second spot</h2>TVS Motor continues to be a distant second, with 17,541 electric scooters sold in August 2024, up from 15,482 scooters sold in August 2023, recording a 13.3% year-on-year growth. TVS Motor currently occupies a 20% market share in the Indian electric two-wheeler segment. Bajaj Auto has emerged as a close third, with 16,699 electric scooters sold in August 2024, up 153.7% from 6,582 electric scooters sold in August 2023. The company currently occupies a 19% market share. <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword> is now in the fourth position, with 10,829 scooters sold in August 2024, up from 7,157 scooters sold in August 2023, recording a 51.3% year-on-year growth. The company commands a 12% market share. <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword> takes the fifth spot with 4,782 electric scooters sold in August 2024, up from 915 scooters sold in August 2023, recording a 422% year-on-year growth. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/august-auto-sales-maruti-suzuki-tata-motors-and-others-report-a-decline-in-sales/articleshow/113016216.cms">August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales</a> <a href="https://www.businessinsider.in/tech/news/indian-tablet-market-records-good-growth-in-q2-2024-1-in-2-tablets-sold-was-from-samsung/articleshow/113011836.cms">Indian tablet market records good growth in Q2 2024, 1 in 2 tablets sold was from Samsung</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-multistrada-v4-rs-adv-launched-in-india-at-38-40-lakh/slidelist/112912412.cms">Ducati Multistrada V4 RS ADV launched in India at ₹38.40 lakh</a>

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