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New Delhi: <keyword id="20081557" type="General" weightage="20" keywordseo="auto-industry" source="keywords">Auto industry</keyword> players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. <keyword id="20034542" type="General" weightage="100" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="153" meta.entityid="Kia India">Kia India</keyword> National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory. <keyword id="20505895" type="General" weightage="20" keywordseo="Nissan-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Nissan Motor" meta.hostid="153" meta.entityid="Nissan Motor">Nissan Motor</keyword> India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months. "I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year," he said. Everybody is looking forward to the festive seasons, especially from the industry, he added. <keyword id="19967765" type="General" weightage="20" keywordseo="Toyota-Kirloskar-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota Kirloskar Motor" meta.hostid="153" meta.entityid="Toyota Kirloskar Motor">Toyota Kirloskar Motor</keyword> Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries. "Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced," he said. Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said. <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="153" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models. He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead. "We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network," he added.

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

New Delhi [India], July 12 (ANI): The <keyword id="20025828" type="General" weightage="20" keywordseo="two-wheeler-sales" source="keywords">two-wheeler sales</keyword> in India in June registered a growth of 21.3 per cent year-on-year (Y-o-Y), highlights the sales data released by the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM) on Friday. The data highlighted that in June the total sales of the two wheelers were recorded at 16,14,154 units which is a 21.3 per cent increase from 13,30,826 two wheeler sold in June 2023. The sales of the scooters also surged to a record 42 per cent Y-o-Y in June to 5.4 lakhs, last year in June it was at 3.8 lakhs. The sales of Bikes also registered two-fold growth with sales increased by 11 per cent in June to 10.3 lakhs as compared to 9.1 lakh last year during the same period. The <keyword id="20028264" type="General" weightage="20" keywordseo="passenger-vehicle-sales" source="keywords">passenger vehicle sales</keyword> also registered a growth of 3 per cent Y-o-Y in June. The total passenger vehicle sales during June stands at 3,37,757 units, it was 3,27,788 units during June 2023. The sales of <keyword id="20412606" type="General" weightage="20" keywordseo="three-wheelers" source="keywords">three-wheelers</keyword> surged twofold by an increase of 12.3 per cent, according to the data total 59, 544 units of three wheelers were sold in June 2024 as against 53, 025 units sold in June 2023. The sales data for June demonstrates a positive outlook for the Indian <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword>. The substantial growth in two-wheeler sales, particularly scooters and motorcycles, along with the steady increase in passenger and three-wheeler sales, reflects a resilient and expanding automobile market in India. Earlier in May, the sales of passenger cars dropped by over 11 per cent, according to the data by the Society of Indian Automobile Manufacturers (SIAM). The domestic sales of passenger cars also slipped 11 per cent from 1,20,364 units in May 2023 to 1,06,952 units in May 2024. The auto companies also reduced the production of passenger cars by 13 per cent, from 1,63,619 units in May 2023 to 1,42,367 units 2024. Export of passenger cars too saw a drop of about 20 per cent from 35,806 units in May 2023 to 28,802 units in May 2024. However, the sales number of June showed the positive signs of growth in the automobile industry.

Auto sales see a positive trend in June, two-wheeler sales register 21% annual growth: SIAM data

The <keyword id="23021375" type="General" weightage="20" keywordseo="domestic-passenger-vehicle-industry" source="keywords">domestic passenger vehicle industry</keyword> volumes declined by low single digit in August 2024 as compared with August 2023, because of weak retail demand trends and higher <keyword id="21396778" type="General" weightage="20" keywordseo="inventory-levels" source="keywords">inventory levels</keyword> at the dealerships according to Kotak Institutional Equities. The report suggests that the major reason for the sluggishness in sales of tractors is the uneven spatial distribution of rainfall, particularly in northern and eastern regions. It also highlights that growth will pick up in the coming months on the back of <keyword id="23021373" type="General" weightage="20" keywordseo="improved-monsoon" source="keywords">improved monsoon</keyword> conditions. The upcoming festive season will also improve the situation as traditionally it is a peak period for auto sales. Strong festive demand could help offset some of the losses experienced in the first half of the fiscal year. The weak wholesale figures in August were driven by private vehicles (PV), commercial vehicles (CV) and tractor original equipment manufacturers (OEM). Retail sales declined in single digits (yoy) for most of the companies. The PV segment saw a low single-digit decline in domestic wholesale volumes year-on-year (YoY) in August 2024, driven by weak retail demand and elevated inventory levels at dealerships, which stood at approximately 70 days. The retail sales fell by mid-single digits YoY during the month. Maruti Suzuki India Limited (MSIL), the largest player in the segment, reported a 4 per cent YoY drop in total volumes, including a 5 per cent decline in domestic sales but it was partially offset by a 6 per cent rise in the export volumes. MSIL's wholesale market share is estimated to have slipped by 250 basis points YoY to approximately 40.5-4 per cent says the report. Other major players also faced challenges in sales. Tata Motors recorded a 3 per cent YoY decrease in PV volumes, while Hyundai Motors reported an 8 per cent drop. However, Mahindra &amp; Mahindra (M&amp;M) bucked the trend with a 16 per cent YoY increase in PV volumes, and Toyota India posted a significant 37 per cent YoY growth on low volumes. Kia and MG Motors also experienced an uptick in sales. The two-wheeler (2W) segment showed resilience with high single-digit YoY growth in domestic wholesale volumes, largely driven by channel filling ahead of the festive season. Retail sales of the internal combustion engine (ICE) two-wheelers grew by mid-single digits YoY, while electric two-wheeler (EV 2W) sales surged by 41 per cent YoY, propelled by new mass-market EV launches and attractive discounts. Among the key players, Hero MotoCorp (HMCL) saw a 5 per cent YoY rise in volumes, and TVS Motor reported a robust 14 per cent YoY increase, with growth in both domestic and export segments. Bajaj Auto's volumes grew by 18 per cent YoY, driven primarily by domestic sales. However, Royal Enfield faced a 5 per cent YoY decline in volumes. Going forward, the report highlighted that the Commercial Vehicle (CV) segment underperformed during the month, with domestic volumes declining by low double digits YoY, primarily due to weakness in the Medium and Heavy Commercial Vehicle (MHCV) truck and Light Commercial Vehicle (LCV) segments. Tata Motors experienced a 15 per cent YoY drop in domestic CV volumes, with sharp declines in Small Commercial Vehicle (SCV) cargo (down 23 per cent) and MHCV trucks (down 15 per cent). Ashok Leyland also reported a 7 per cent YoY decline in CV volumes, while VE Commercial Vehicles (VECV) managed a modest 1 per cent YoY increase. In August, the domestic tractor segment remained flat YoY with volumes coming in 5-6 per cent. During this period, M&amp;M's tractor volumes grew by 1 per cent YoY, while Escort Kubota's volumes remained unchanged compared to the same period last year. The report says that strong festive demand could help offset some of the losses experienced in the first half of the fiscal year, particularly if economic conditions and consumer sentiment improve.

Auto Industry sales to surge on the back of improved monsoon, festive season demands: Report

The <keyword id="20143656" type="General" weightage="20" keywordseo="turnover" source="keywords">turnover</keyword> of India's automotive component industry registered a <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> of 9.8 per cent in the financial year 2023-24, according to the Automotive Component Manufacturers Association of India (<keyword id="20475655" type="General" weightage="20" keywordseo="ACMA" source="keywords">ACMA</keyword>). The turnover stood at Rs 6.14 lakh crore (USD 74.1 billion) during the year, said the ACMA, the body representing India's auto component manufacturing industry, in its review for the fiscal year 2023-24, as per a release. <keyword id="20373789" type="General" weightage="20" keywordseo="shradha-suri-marwah" source="keywords">Shradha Suri Marwah</keyword>, President, ACMA, and CMD, Subros, said that apart from an increase in <keyword id="21825714" type="General" weightage="20" keywordseo="vehicle-production" source="keywords">vehicle production</keyword>, higher value addition from the component sector has led to growth in the auto components sector. "On the front of trade, whilst overall merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> from India witnessed degrowth in FY24, auto component exports have grown despite geopolitical challenges and an increase in logistics costs," Marwah said. Elaborating on the mood of the industry and outlook for the near future, Marwah mentioned, steady growth in the vehicle industry has resulted in the industry reaching pre-pandemic levels of performance in 2023-24 in most segments, however, the first quarter of FY25 witnessed somewhat slower offtake in <keyword id="20051501" type="General" weightage="20" keywordseo="vehicle-sales" source="keywords">vehicle sales</keyword>, especially in passenger vehicles and commercial vehicles, given the high base, due to inclement weather conditions and elections. "With strong macro-economic indicators, conducive government policies, and over 7 per cent growth projected for the Indian GDP, we are hopeful that the auto components industry will continue to perform well in 2024-25," Marwah added in the release. Following are some of the key findings of the ACMA Annual Industry Performance Review: Auto component sales to Original Equipment Manufacturers (OEMs) in the domestic market were at Rs 5.18 lakh crore (USD 62.4 billion), growing 8.9 per cent compared to the previous year. Consumption of increased value-added components, a thrust on localisation, and a shift in market preference towards larger and more powerful vehicles contributed to the increased turnover of the auto-components sector. Exports of auto components witnessed growth of 5.5 per cent to Rs USD 21.2 billion in 2023-24 in contrast to USD 20.1 billion in 2022-23. North America accounted for 32 per cent of exports. Europe accounted for another 33 per cent and Asia for 24 per cent, respectively. Exports to Europe grew by 12 per cent while to Asia remained flat. The key export items included drive transmission and steering, engine components, body and chassis, suspension and braking systems. Component imports grew by 3.0 per cent in 2023-24 to USD 20.9 billion from USD 20.3 billion in 2022-23. Further, increased vehicle movement and a surge in demand for used vehicles led to buoyancy in the aftermarket across all segments. The turnover of the aftermarket in 2023-24 stood at Rs 93,886 crore (USD 11.3 billion) compared to Rs 85,333 crore (USD 10.6 billion) in the previous year. The aftermarket, with an increase in e-commerce, is witnessing enhanced penetration, especially in the hinterland, and a gradual evolution into the organised sector. (ANI)

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

<keyword id="21991719" type="General" weightage="20" keywordseo="passenger-vehicle-exports" source="keywords">Passenger vehicle exports</keyword> from India rose by 2.68 lakh units in the last four financial years with <keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="153" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> accounting for nearly 70 per cent of the <keyword id="21991720" type="General" weightage="20" keywordseo="incremental-shipments" source="keywords">incremental shipments</keyword> during the period. As per the industry data, passenger vehicle exports in the 2020-21 fiscal stood at 4,04,397 units. It rose to 5,77,875 units in the 2021-22 fiscal year and to 6,62,703 units in 2022-23 financial year. Last fiscal, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21. In the last three fiscal years, <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> has accounted for 70 per cent of the incremental 2,67,708 units across the industry which were shipped to overseas markets. The auto major's export shipment increased by 1,85,774 units between FY21 and FY24. When contacted, <keyword id="21223168" type="General" weightage="20" keywordseo="maruti-suzuki-india-executive" source="keywords">Maruti Suzuki India Executive</keyword> Officer Corporate Affairs Rahul Bharti said that factors like addition of more models, adherence to global production standards and tie-up with Toyota have helped in ramping up the exports' volume. He noted that the company is currently exporting models to around 100 nations across the globe. Top overseas markets for the company currently are South Africa, Saudi Arabia, Chile and Mexico. Other major markets include the Philippines, Indonesia and Ivory Coast. MSI exports models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio and Ertiga. As per SIAM data, overall <keyword id="21991650" type="General" weightage="20" keywordseo="PV-exports" source="keywords">PV exports</keyword> stood at 6,72,105 units in FY24, an increase of 1.4 per cent over 6,62,703 units in FY2023. MSI exported 2,80,712 units last fiscal, an increase of 10 per cent over 2,55,439 units in FY23. Rival Hyundai shipped 1,63,155 units in FY24 as compared with 1,53,019 units in FY23, an increase of 7 per cent.

Passenger vehicle exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70% of incremental shipments

<ul><li><keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric vehicles</keyword> (EVs) are gaining popularity worldwide</li><li>However, concerns remain about their environmental impact</li><li> <keyword id="21881868" type="General" weightage="20" keywordseo="alternative-fuel" source="keywords">Alternative fuel</keyword> vehicles like hydrogen fuel cells and biofuels are some more alternatives we can tap into</li></ul> Electric vehicles or EVs are in their prime right now, with the demand crossing an all-time high. A trend noticeable around the world, EVs are not only becoming increasingly popular but also fairly affordable. Slowly but surely EVs are overcoming the challenges that crossed them — design, features, safety, and most importantly range. A major credit to this trend can be given to consumer acceptance, policy backing, and improving infrastructure. However, there is a downside to EVs as well. Having featured multiple EVs with our series<a href="https://www.youtube.com/watch?v=TCR3PaYxcmk&amp;t=1s" data-type="tilCustomLink" target="_blank"> Short Spin, </a>I developed a strong reference point. This made me wonder why are we so heavily reliant on them. Over its life cycle, EVs cannot be termed as particularly environmentally friendly, which has been their main selling point over the past few decades. <h2>The ‘Red’ side of EVs</h2> There is a bit of red within the go-green agenda that EV manufacturers push. EVs as a whole do come with benefits like low maintenance, improved efficiency and ultimately lower fuel emissions. However, <keyword id="21357488" type="General" weightage="100" keywordseo="EV-production" source="keywords">EV production</keyword> and disposal can have detrimental effects on the natural environment. Here are some socio-ecological concerns over EVs: 1. High carbon footprint in battery production: EV battery production is energy-intensive and often relies on electricity from fossil fuels, leading to a high initial carbon footprint. This is elaborated in a story recently published by Earth Org. 2. Resource constraints and ethical concerns: Particularly with the extensive mining of cobalt and other minerals for EVs, there has been a global outcry. Limited availability of critical minerals like lithium, cobalt, and nickel, shady mining practices long work hours, unsafe work environments, and use of child labour in underdeveloped parts of the world have raised several ethical issues around the sustainability of EVs. This issue can be explored further in this essay by Al Jazeera. 3. Recycling and end-of-life challenges: EV battery recycling is currently inefficient, costly, and poses significant environmental risks, with a huge amount of batteries ending up in landfills. 4. Manufacturing costs and economic barriers: High production costs, especially for batteries, make EVs more expensive than conventional vehicles and require significant investments in new manufacturing facilities and supply chains. 5. Supply chain and geopolitical risks: Critical mineral resources necessary for EV production are concentrated in a few countries. This leads to vulnerabilities in the complex supply chain and often risks disruptions due to geopolitical tensions, trade conflicts, or natural disasters. China as of today controls 83% of EV battery production in the world, with a major stronghold on the supply chain. While I am in no way suggesting to drop out of EVs, I believe sticking to just one alternative risks replicating the same mistake we did for ICE vehicles. So, what are the alternatives? <h2>The alternates fuel vehicles (<keyword id="23193800" type="General" weightage="20" keywordseo="AFVs" source="keywords">AFVs</keyword>)</h2> AFVs are a growing segment of the automotive industry that utilize fuels other than traditional gasoline or diesel. These vehicles offer similar potential benefits such as reduced greenhouse gas emissions, improved air quality, and reduced dependence on fossil fuels. While EVs are also a form of AFVs, here we will list out other major alternatives like hydrogen fuel and biofuel options. Hydrogen fuel cells: Convert hydrogen gas into electricity, emitting only water vapour. Currently, <keyword id="19906788" type="General" weightage="20" keywordseo="Toyota" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota" meta.hostid="261" meta.entityid="Toyota">Toyota</keyword> and Hyundai are the only hydrogen-based cars in the Indian market. Hydrogen internal combustion engines: These vehicles use hydrogen as a fuel in modified combustion engines. While road-legal vehicles for this fuel type aren’t out, BMW with hydrogen 7 is working on a prototype. Ethanol: This is a renewable fuel made from plant materials, commonly mixed with gasoline. In America, Ford F-150 Flex-Fuel and Chevrolet Silverado Flex-Fuel are utilizing this technology. Biodiesel and renewable diesel: Derived from vegetable oils, animal fats, or recycled grease, these fuel types can be used in diesel engines. Compressed Natural Gas (CNG): Perhaps the most famous alternative for cabbies in Delhi, CNG is in popular demand. Technically it is used in specially modified internal combustion engines, primarily for lower emissions. Propane (Liquefied Petroleum Gas, LPG): A byproduct of natural gas processing and crude oil refining, used in internal combustion engines. As technology continues to advance, these AFVs are becoming more accessible and affordable, making them a promising option for sustainable transportation. If you are an eco-conscious buyer in today’s auto market, bear in mind that there are options beyond EVs as well. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mercedes-expands-bev-range-rolls-out-second-locally-produced-model-in-india/articleshow/113388002.cms" data-type="tilCustomLink" target="_blank">Mercedes expands BEV range; rolls out second locally produced model in India</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-adoption-in-india-rising-13-share-expected-by-2026-27-jefferies/articleshow/113361787.cms" data-type="tilCustomLink" target="_blank">Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies</a>

EVs are not the only options for alternative fuel — make way for hydrogen and bio-fuel

<keyword id="21999883" type="General" weightage="20" keywordseo="Passenger-vehicle-retail-sales" source="keywords">Passenger vehicle retail sales</keyword> in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body <keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword> said on Thursday. The overall <keyword id="762866" type="General" weightage="100" keywordseo="Passenger-vehicle" source="Orion">passenger vehicle</keyword> (PV) registrations last month stood at 3,09,053 units, as compared to 3,23,720 units in August 2023. "Even with the arrival of the <keyword id="19894908" type="General" weightage="20" keywordseo="Festive-season" source="keywords">festive season</keyword>, the market remains under significant strain... Inventory levels have reached alarming levels, with stock days now stretching to 70-75 days and inventory totalling 7.8 lakh vehicles, valued at an alarming Rs 77,800 crore," Federation of Automobile Dealers Associations (FADA) President Manish Raj Singhania said in a statement. Rather than responding to the situation, PV Original Equipment Manufacturers (OEMs) continue to increase dispatches to dealers on a month-on-month basis, further exacerbating the issue, he added. "FADA urgently calls upon all banks and NBFCs to intervene and immediately control funding to dealers with excessive inventory," Singhania said, adding that dealers must also act swiftly to stop taking on additional stock to protect their financial health. The OEMs, too, must recalibrate their supply strategies without delay, or the industry faces a potential crisis from this inventory overload, he said. "If this aggressive push of excess stock continues unchecked, the <keyword id="23047448" type="General" weightage="20" keywordseo="auto-retail-ecosystem" source="keywords">auto retail ecosystem</keyword> could face severe disruption," Singhania said. Commercial vehicle registrations saw a 6 per cent year-on-year dip in August, while tractor retail sales also witnessed a drop of 11 per cent as compared to the year-ago period. Two-wheeler sales, however, increased 6 per cent year-on-year to 13,38,237 units in August, as compared to 12,59,140 units in the same month last year, on the back of improved stock availability and the onset of the festive season, Singhania said. Three-wheeler retail sales also increased by 2 per cent to 1,05,478 units last month, as compared to 1,03,782 units in the year-ago period. Overall registrations last month saw an increase of 3 per cent year-on-year at 18,91,499 units, as against 18,38,501 units in August last year. On business outlook in the near term, FADA said it remains cautiously optimistic. While the festive season and improved rural demand present promising opportunities for growth, ongoing weather uncertainties and high inventory levels may temper the overall recovery, it stated. To navigate these challenges, strategic inventory management and targeted marketing initiatives will be crucial in maximising festive sales and mitigating risks from adverse weather conditions, it added.

Passenger vehicle retail sales dip 5% in August 2024; FADA raises alarm over rising inventory level

The country's <keyword id="21969771" type="General" weightage="20" keywordseo="airport-industry" source="keywords">airport industry</keyword> is projected to report a <keyword id="20385116" type="General" weightage="20" keywordseo="profit-before-tax" source="keywords">profit before tax</keyword> of <keyword id="21969772" type="General" weightage="20" keywordseo="USD-1-3-billion" source="keywords">USD 1.3 billion</keyword> in the current financial year. The profit is anticipated to be Rs 256.1 (USD 3.1) per passenger in the fiscal ending March 2025, aviation advisory firm CAPA India said while giving projections at its <keyword id="21969773" type="General" weightage="20" keywordseo="aviation-summit" source="keywords">aviation summit</keyword> in the national capital on Friday. In the current fiscal, <keyword id="21969774" type="General" weightage="20" keywordseo="passenger-throughput" source="keywords">passenger throughput</keyword> at Indian airports is estimated to rise to 404.9 million. Out of the total, 81.1 per cent will be domestic and 18.9 per cent will be international traffic, it said. As per the report, the <keyword id="20006900" type="General" weightage="20" keywordseo="Airport-Authority-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Airport Authority of India" meta.hostid="261" meta.entityid="Airport Authority of India">Airport Authority of India</keyword>'s (AAI) profitability is likely to remain robust in FY2024 and FY2025. "The topline will grow due to an increase in aeronautical revenue along with the receipt of revenue share from the recently privatised six non-metro airports, without having to incur any expense associated with it - resulting in higher profitability," it added. The industry's profit before tax is expected to be USD 1.3 billion in this fiscal. "India's airport operators are forecast to register Rs 359.8 billion (USD 4.3 billion) in revenue for FY2025, representing a growth of 14.8 per cent y-o-y from FY2024," CAPA India said. Noting that airport infrastructure at metros and non-metros is ahead of demand, it said there is an ongoing USD 11 billion pipeline of investment, including in Tier 2 and Tier 3 airports. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/computex-2024-intel-debuts-lunar-lake-chips-with-focus-on-microsofts-ai-ambitions-for-pcs/articleshow/110745670.cms" target="_blank">Computex 2024: Intel Debuts Lunar Lake Chips With Focus On Microsoft’s AI Ambitions For PCs</a><a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/may-auto-sales-tata-motors-and-hyundai-continue-to-fight-for-the-second-spot-as-car-sales-grow-by-4/articleshow/110649713.cms" target="_blank">May Auto Sales – Tata Motors and Hyundai continue to fight for the second spot as car sales grow by 4%</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank">Upcoming cars and two-wheelers launching in India in June 2024</a>

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