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Upcoming cars launching in India in September 2024

<ul><li>EV penetration is set to reach 6-8% by FY27 compared to a mere 1.3% in FY23 as per a CRISIL report.</li><li>The total cost of acquisition (<keyword id="21010615" type="General" weightage="20" keywordseo="tca" source="keywords">TCA</keyword>) is lower for EVs but the total cost of ownership (<keyword id="19896738" type="General" weightage="20" keywordseo="tco" source="keywords">TCO</keyword>) is higher as compared to other variants, says the report.</li><li>For e-cabs, the TCA is higher than that of TCO but charging infra and other factors play a crucial role in adoption.</li></ul> <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs) are here to take over the auto market. In the US, this growing trend is close to reaching double digits in terms of penetration among personal vehicles. Even in India, the penetration is growing as domestic manufacturers increasingly gravitate towards the EV segment. In addition to Tata Motors’ EV versions of Nexon, Tigor and <keyword id="20075324" type="General" weightage="20" keywordseo="tiago-ev" source="keywords">Tiago EV</keyword> and MG’s ZS — many other automakers are entering the EV lane too. Foremost among them is <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, which is planning to launch its first EV by 2025, and Renault’s electric Kwid, Zoe and KZE are also expected to come to India soon. MG Motor India already has a couple of fairly successful EV models and plans to introduce many more soon. For foreign brands like Tesla, policy roadblocks on imports, proved to be a limiting factor so far. However, the <a href="https://www.businessinsider.in/business/auto/news/new-ev-policy-elon-musks-tesla-may-soon-enter-india-as-import-taxes-slashed-for-electric-vehicles/articleshow/108527306.cms">recent changes in the Indian policy landscape</a> lower the import taxes if the companies commit to manufacturing in India in the subsequent years. Such policy incentives are likely to attract even more global EV brands to India. But what do these new models of new-age tech cars mean to car buyers sitting on the fence? As per a recent analysis by CRISIL, the total cost of ownership (TCO) or total cost of ownership of passenger vehicles could work in favour of EVs in the next three years for Indian buyers. So, how does the math work for prospective owners? TCA is lower but the TCO may remain higher TCO includes the purchase price of a particular asset, plus operating costs over the asset’s life span. As of FY22, the TCO of EVs was 20-30% higher than that of all three variants which is petrol, diesel and CNG. “In FY27, we expect the economics to again remain the same. However, despite not-so-favourable cost economics, higher adoption has been witnessed initially by environment-conscious buyers,” said CRISIL. The latest analysis agrees with the <a href="https://journals.sagepub.com/doi/10.1177/0361198120947089">earlier research</a> from <keyword id="20691574" type="General" weightage="20" keywordseo="world-resources-institute-india" source="keywords">World Resources Institute India</keyword> (<keyword id="20336071" type="General" weightage="20" keywordseo="wri-india" source="keywords">WRI India</keyword>) on TCO in India. The study highlighted that the TCO for EVs for personal use remains higher and may require additional financial incentives to be economically viable. The total cost of acquisition (TCA) on the other hand is lower for EVs as compared to other variants. TCA of an EV is 24% lower than that of a diesel variant, and 4% lower for a petrol variant. The TCA for an EV and a CNG variant is the same. This is due to lower registration charges for EVs amid high loan-to-value (LTV) ratios. Overall, the report expects EV penetration in the passenger vehicle segment to reach 6-8% by FY27 from a mere 1.3% in FY23. Meter down: How do EVs fare as cabs? Unlike in the PV segment, the cost dynamics are reversed for cab aggregators who want to drive in the EV lane – where even though the TCA is higher, TCO remains lower. In FY22, the TCO of EVs for cab aggregators was lower than that of petrol and diesel vehicles by around 29% and around 19%, respectively. However, the TCO of EVs is still higher than that of a CNG variant by around 13% even for commercial use. This is due to the higher running of a commercial passenger vehicle and high fossil fuel prices. The FAME-II subsidy provided by the Government of India incentivises the adoption of EVs for commercial use, including 2-wheelers, 3-wheelers, and buses for public transport. However, the TCA of an EV for a cab aggregator is still around 17% higher than that of a diesel vehicle, 26% higher than a petrol vehicle, and around 16% higher than a CNG variant. “In FY27, we expect the TCA of EVs to be lower than that of diesel and petrol variants, but higher than that of a CNG variant,” says CRISIL. The report expects the cab aggregator segment to lead the drive towards EVs, resulting in a 4% EV penetration by FY26. The taxi segment accounts for 10-15% of sales within passenger cars. However, a few challenges continue to linger, limiting the wider adoption of e-cabs on the road. A limited number of charging stations range anxiety and lack of large original equipment manufacturer (OEM) presence are hindering EV adoption. EVs used for personal use, however, are mostly charged at home, and charging infrastructure does not play a very high role there. “The lower battery cost (due to expected localisation led by the phased manufacturing programme or PMP) is expected to offset the lack of FAME subsidy and will help maintain the competitiveness of EVs against diesel and CNG variants for cab aggregators in the long run,” says CRISIL.

Electrifying auto market: Planning to buy an EV, compare their price with petrol, diesel and CNG variants

<ul><li><keyword id="6356175" type="General" weightage="20" keywordseo="cng" source="Orion">CNG</keyword> cars are an economical alternative to petrol and diesel cars.</li><li>Automakers are expected to launch several CNG cars in India in 2023.</li><li>Tata Nexon CNG, Kia Sonet CNG and i20 CNG are among the cars expected to launch in 2023. </li></ul>CNG cars offer several advantages over traditional petrol and diesel vehicles. They emit significantly less pollution, are quieter, and have lower running costs. CNG is readily available in most major cities, making it a convenient option for daily commutes and long-distance travel. Moreover, many automakers now offer CNG variants of their popular models, making accessing this eco-friendly fuel source easier. Although the initial cost of a CNG car may be slightly higher than a petrol or diesel vehicle, the long-term savings on fuel costs make it a more cost-effective option. Overall, a CNG car is a great choice if you are looking for an eco-friendly and cost-effective alternative to petrol and diesel cars. With its numerous benefits and increasing availability, it's worth considering as a viable option for your next vehicle. Automakers are expected to launch more CNG cars in 2023 as they are more economical for riders. In this post, we look at the CNG cars expected to launch in India in 2023. <h3>Tata Altroz CNG</h3>The Tata Altroz is a premium hatchback, and Tata plans to launch a CNG variant of the Altroz in August 2023. The Altroz shares the same engine as the Tata Tiago and Tigor. The Altroz CNG variant is expected to be launched with a manual transmission. <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">Hyundai i20 CNG</h3>The Hyundai i20 is one of the best-selling cars in its segment, and Hyundai is planning to introduce a CNG variant of the i20 to compete with the Glanza and Baleno, which already have CNG variants in the market. The i20 is expected to be launched with the same 1.2-liter engine as the Hyundai i10. <h3 style="line-height:1.56;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;padding:26pt 0pt 8pt 0pt;">Tata Nexon CNG</h3>Tata Motor’s popular SUV Nexon will also get a CNG variant in 2023. This will make it one of the few cars in the country to be available in petrol, diesel, electric, and CNG variants. The Tata Nexon CNG is expected to be equipped with a 1.2-liter engine. <h3 style="line-height:1.56;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;padding:26pt 0pt 8pt 0pt;">Tata Punch CNG</h3>Tata Punch, the company’s affordable SUV, is expected to get a CNG variant in 2023. The Tata Punch CNG is expected to have a 1.2-liter engine and a 5-speed manual gearbox. The car is expected to retain the same design as the petrol variant. <h3 style="line-height:1.56;background-color:#ffffff;margin-top:0pt;margin-bottom:0pt;padding:26pt 0pt 8pt 0pt;">Kia Sonet CNG</h3>Kia has been spotted testing the Sonet CNG, which features a design similar to its petrol variant. The car is expected to be launched in the second half of 2023 and is expected to be equipped with a 1-liter turbo petrol engine, which is expected to offer 118 bhp of power and 172 Nm of peak torque. We should know more about the car in the coming weeks.

Upcoming CNG cars in India in 2023

<ul><li>This festive season brings huge discounts and offers of sedans, hatchbacks and SUVs.</li><li>Discount offers include loyalty benefits, exchange offers, and more.</li><li>Below, we have curated a list of the best cars you can buy this Diwali.</li></ul>Diwali is just around the corner, and it is that time of the year when the automakers will attract buyers with attractive discounts and exchange offers. Almost every major brand like Mahindra, <keyword id="6912" type="General" weightage="80" keywordseo="maruti" source="Orion">Maruti</keyword>, Honda, <keyword id="8555" type="General" weightage="80" keywordseo="tata" source="Orion">Tata</keyword>, <keyword id="6374528" type="General" weightage="50" keywordseo="toyota" source="Orion">Toyota</keyword> and others has something to offer at this time of the year. During this festive season, you can grab a cash discount of up to ₹50,000, an exchange bonus of up to ₹50,000, loyalty benefits up to ₹1 lakh, and a corporate discount of ₹5,000-₹10,000, Below, we have curated the list of some best and top-selling cars that you can buy this festive season. <cmsannotation type="cmsannotation" annotationid="Maruti Grand Vitara" comment="subhead" text="Maruti Grand Vitara">Maruti Grand Vitara</cmsannotation> <div type="image" title="grand vitara" msid="94639379" hostid="261"></div> This is the latest SUV from Maruti with a claimed mileage of 28kmpl. The car is available in six variants, Sigma, Delta, Zeta, Alpha, Zeta+, and Alpha+. The strong hybrid version of Grand Vitara is known as the Intelligent Electric Hybrid system, which produces 91bhp and 122Nm via the ICE unit and 114bhp and 141Nm, mated exclusively to an e-CVT unit. The Grand Vitara is the most spacious and longest in its segment. For fuel economy, you can go for full hybrid variants, priced from Rs 17.99 lakh to Rs 19.65 lakh. Also, if you want to think ahead of Creta or Seltos, then Maruti Grand Vitara should be on your list. <cmsannotation type="cmsannotation" annotationid="Honda WR-V" comment="subhead" text="Honda WR-V">Honda WR-V</cmsannotation> <div type="image" title="Honda WR-V" msid="94639386" hostid="261"></div> If you are looking for a compact car with an SUV look and feel, then Honda’s WR-V can be a good pick. During the festive season, you can save up to ₹39,298 on WR-V with a cash discount of ₹10,000 or free accessories worth ₹12,000. In addition, you can also avail an exchange bonus of ₹7,000 along with a loyalty bonus of ₹5,000 and a corporate discount of ₹5,000. The Honda WR-V is the crossover of Honda’s Jazz with slightly raised ride height and tweaked styling. The Honda WR-V price starts from ₹9.11 lakh and goes up to ₹12.31 lakh. <cmsannotation type="cmsannotation" annotationid="Hyundai Venue" comment="subhead" text="Hyundai Venue"><keyword id="596" type="General" weightage="80" keywordseo="hyundai" source="Orion">Hyundai</keyword> Venue</cmsannotation> <div type="image" title="Hyundai Venue" msid="94639406" hostid="261"></div> Venue is a good option if you want a car full of features and style. The Hyundai Venue is available in E, S, S(O), S+, SX, and SX (O) variants, and the price starts from ₹7.53 lakh and goes up to ₹12.72 Lakh. Hyundai Venue is available in petrol and diesel engines. The 998cc petrol engine generates a power of 118.41bhp, the 1493cc Diesel engine generates a power of 98.56bhp. Hyundai Venue is available in both manual and automatic transmission. <cmsannotation type="cmsannotation" annotationid="Maruti Alto" comment="subhead" text="Maruti Alto">Maruti Alto</cmsannotation> <div type="image" title="Maruti Alto" msid="94639424" hostid="261"></div> It is one of the most loved cars by Indians as its price starts from ₹3.39 lakh and goes up to ₹5.02 lakh. It is an evergreen entry-level option for those buying their first car. Maruti Alto is available in six variants – Std, Std (O), LXi, LXi (O), VXi, and VXi+. The car is powered by a 0.8-litre petrol engine which produces 47bhp and 69Nm of torque in its petrol version. The car is also available in a CNG variant with the same motor that produces an output of 40bhp and 60Nm of torque. Coming to features, it has a seven-inch touchscreen infotainment system, reverse parking sensors, front and rear bottle holders, power windows, remote keyless entry, and dual front airbags. <cmsannotation type="cmsannotation" annotationid="Hyundai i20" comment="subhead" text="Hyundai i20">Hyundai i20</cmsannotation> <div type="image" title="Hyundai i20" msid="94639437" hostid="261"></div> The Hyundai i20 is a stylish hatchback powered by a powerful engine. The price of the Hyundai i20 starts at ₹7.07 lakh and goes up to ₹11.62 lakh. Hyundai i20 is available in 19 variants - the base model of the i20 is Magna, and the top variant Hyundai i20 Asta Opt Turbo DCT DT, comes at a price tag of ₹11.62 lakh. During the festive season, Hyundai offers exciting exchange and loyalty bonuses, but the offers may vary in different cities and states. <cmsannotation type="cmsannotation" annotationid="Maruti Brezza 2022" comment="subhead" text="Maruti Brezza 2022">Maruti Brezza 2022</cmsannotation> <div type="image" title="brezza." msid="94639453" hostid="261"></div> The new Maruti Suzuki Brezza is powered by a 1.5-litre K12C petrol engine which produces 103bhp and 138Nm of torque. This motor is paired with a six-speed manual and automatic transmission. The Maruti Brezza 2022 features LED projector headlamps, a new grille with chrome touch, fog lights, and new front and rear bumpers. The car has all-new 16-inch dual-tone alloy wheels, an integrated spoiler with a high-mounted stop lamp, and a shark-fin antenna. Maruti Brezza 2022 price starts from ₹7.99 lakh and goes up to ₹13.96 lakh. Brezza is available in 11 variants. <cmsannotation type="cmsannotation" annotationid="Skoda Slavia" comment="subhead" text="Skoda Slavia">Skoda Slavia</cmsannotation> <div type="image" title="Skoda Slavia" msid="94639463" hostid="261"></div> The Skoda Slavia price starts from ₹10.99 lakh and goes up to ₹18.39 lakh. The car is available in 8 variants, and the top model is available for ₹18.39 Lakh. If you are looking for a sedan with some high-end specifications and features, then Skoda Slavia should be on your list. <cmsannotation type="cmsannotation" annotationid="Tata Nexon EV" comment="subhead" text="Tata Nexon EV">Tata Nexon EV</cmsannotation> <div type="image" title="Tata Nexon EV" msid="94639480" hostid="261"></div> If you are willing to buy an electric car this festive season, then Tata Nexon EV can be a good pick. The car is available in three variants: XM, XZ Plus, and XZ Plus Lux. Tata Nexon EV packs a 30.2kWh lithium-ion battery that produces 74bhp and 170Nm of torque and has a claimed range of 312km. Regarding exterior design, Tata Nexon EV gets projector headlamps, LED DRLs, 16-inch diamond-cut alloy wheels, a shark fin antenna, and electric blue accents. The Tata Nexon EV price starts from ₹14.99 lakh and goes up to ₹17.50 lakh. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-tigor-ev-vs-tata-tiago-ev-comparison-of-price-and-features/slidelist/94551771.cms">Tata Tigor EV vs Tiago EV - which one should you buy?</a> <a href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a>

Best cars under ₹20 lakh to buy this festive season

<ul><li>The <keyword id="5007815" type="General" weightage="20" keywordseo="tata-tiago-ev" source="Orion">Tata Tiago EV</keyword> could be one of the most affordable electric cars in India. </li><li>The <keyword id="6065520" type="General" weightage="100" keywordseo="tiago-ev" source="Orion">Tiago EV</keyword> is expected to launch later this month, with reports suggesting that it could be priced between ₹10-12 lakh. </li><li>Here’s everything we know about the upcoming Tata Tiago EV. </li></ul>Tata Motors is set to introduce a new electric car, the Tiago EV, in India in the coming weeks. The company, during the EV Day 2022 celebrations, revealed that the company’s new electric car would be launching soon. Tata could be targeting the affordable EV segment with the Tiago EV – it will be the new entry point in Tata’s EV portfolio. Some reports also suggest that it could be one of the most affordable EVs in the country, but we will know for sure only after the official launch of the electric car, which is expected to happen sometime later this month. “Today is a momentous occasion for us, as we announce the expansion of our EV portfolio further with a new mainstream intervention from the stable of Tata Motors, the Tiago EV,” Tata Motors passenger vehicles division’s managing director Shailesh Chandra said. The Tiago EV will be based on the Tiago ICE hatchback, which is currently available in two fuel variants – petrol and CNG. The car was initially launched in 2018 and is currently available in 14 different trims. <cmsannotation type="cmsannotation" annotationid="Expanding Tata’s EV line-up" comment="subhead" text="Expanding Tata’s EV line-up">Expanding Tata’s EV line-up</cmsannotation> Electric vehicles have witnessed an increased adoption over the past two years – rising fuel prices and increased awareness about EVs have helped grow EV sales across the country. The Tiago EV, when launched, will be the fourth electric car in Tata’s portfolio, which already includes the Xpres-T EV, Tigor EV and the Nexon EV range. The Xpres-T EV is the most affordable of the lot, with a starting price of ₹9.75 lakh (ex-showroom). <cmsannotation type="cmsannotation" annotationid="Tata Tiago EV – expected features and specifications" comment="subhead" text="Tata Tiago EV – expected features and specifications">Tata Tiago EV – expected features and specifications</cmsannotation> The Tata Tiago EV is rumoured to be powered by a 41hp electric motor which we’ve seen in the Xpres-T EV already. It is said to be backed by a 16.5kWh battery pack that could deliver a 165km range. Some rumours also suggest that we could see a 21.5kWh variant with 213km range. Rumours also suggest that the Tiago EV could borrow Ziptron powertrain and split battery pack design from the Tigor EV. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/dandera-launches-otua-a-3-wheeler-cargo-ev-with-up-to-300-km-range/articleshow/94096815.cms">Dandera launches OTUA, a 3-wheeler cargo EV with up to 300 km range</a> <a href="https://www.businessinsider.in/tech/news/heres-how-much-the-iphone-14-new-apple-watches-and-the-airpods-pro-2nd-generation-will-cost-in-india/articleshow/94060771.cms">Here’s how much the iPhone 14, new Apple Watches and the AirPods Pro 2nd generation will cost in India</a> <a href="https://www.businessinsider.in/tech/mobile/news/heres-everything-new-on-the-iphone-14-and-14-pro-dynamic-island-satellite-connectivity-always-on-display-and-more/articleshow/94060331.cms">Here’s everything new on the iPhone 14 and 14 Pro — Dynamic island, satellite connectivity, always-on display and more</a>

Tata Tiago EV to launch soon – could be the cheapest EV from the car maker

<ul><li>Robust demand for passenger vehicles is expected to continue driving <keyword id="46211" type="General" weightage="20" keywordseo="auto-sales" source="Orion">auto sales</keyword> in February. </li><li>This is despite a moderate drop in customer enquiries, according to analysts. </li><li>Electric vehicles in both the passenger vehicle and two-wheeler segments have caught the fancy of customers who are increasingly willing to accept the higher upfront costs in lieu of lower maintenance and operational costs. </li><li>Sales of entry-level cars and two-wheelers are likely to be subdued in February largely due to a weak rural recovery and inflation woes. </li></ul>A robust demand for passenger vehicles (PVs) is expected to boost India’s auto sales numbers for the month of February, as per analysts. This is despite a moderate drop in customer enquiries across carmakers, especially at a time when companies are transitioning to the second phase of BS VI emission norms (also known as BS6 Phase 2). According to analysts at Motilal Oswal, although retail volumes are expected to slow down in February when compared to January, a marriage season in the northern markets and a healthy uptick in urban markets are expected to drive a 10-12% year-on-year growth in the retail segment for the month. “The month of February has been seasonally weak for most of the dealers/OEMs (original equipment manufacturers). Our discussions suggest weakness in two-wheeler sales except for the EVs (electric vehicles), while for PVs the demand remains strong but production constraints still remain on the automatic version and higher variants of SUVs (Sports Utility Vehicles),” said a report by LKP Securities. <cmsannotation type="cmsannotation" annotationid="Carmakers losing 15-20% sales due to supply chain issues" comment="subhead" text="Carmakers losing 15-20% sales due to supply chain issues">Carmakers losing 15-20% sales due to supply chain issues</cmsannotation> According to a dealer check by analysts, both customer footfalls and demand for passenger vehicles have gained strength every month since the pandemic subsided. However, persistent supply chain issues have resulted in carmakers losing out on 15-20% of their business, failing to take full advantage of this rising demand for PVs. Premium cars, and more specifically, the higher-end automatic variants that use technologies like automatic gear shift (AGS) and automated manual transmission (AMT) are the ones facing the most issues, with companies like Maruti Suzuki reporting waiting periods as long as 4-6 months. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car models </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Waiting period </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyundai Creta </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8-9 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki Ertiga (CNG) </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki AGS and AMT variants </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4-6 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Tiago EV </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 months </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M Thar (2WD diesel) </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year </td></tr></tbody></table> Source: Brokerage reports Analysts also noted that the chip shortage is a bigger problem for Mahindra &amp; Mahindra, since its entire portfolio consists of SUVs, which use chips more than entry-level cars and hatchbacks. Overall, analysts say the robust passenger vehicle demand has resulted in low inventory levels – which are down to 15-20 days – across Maruti Suzuki, Tata Motors and Hyundai. According to a Motilal Oswal report, Maruti Suzuki’s Brezza, Grand Vitara and the newly-launched Jimny and Fronx have an order book between 10,000 to 70,000 units. <cmsannotation type="cmsannotation" annotationid="EVs catch the fancy of customers" comment="subhead" text="EVs catch the fancy of customers">EVs catch the fancy of customers</cmsannotation> Despite the higher initial cost of purchase, analysts say customers are increasingly preferring electric vehicles, be it in the passenger vehicle or the two-wheeler segment. According to a report by JMK Research, sales of electric vehicles rose 29% sequentially in the December quarter to 3.57 lakh units. “EV has gained a super strong and rapid hold on the markets with all the scooter launches in EV fetching solid demand. Customers are ready to bear the one-time high cost in EVs rather than incurring the recurring high operational costs led by rising fuel costs,” said a report by LKP Securities. While electric vehicles are costlier, their maintenance and operation costs are relatively lower than their internal combustion engine (ICE) counterparts. Tata Motors’ EV portfolio now accounts for 15% of its sales, up from 5% a year ago, according to a report by LKP Securities. The company’s Nexon EV remains one of the top performers in the EV segment, with a waiting period of 20-25 days. Tata Motors’ more affordable EV offering, the Tiago EV, has an even higher waiting period of up to two months. On the two-wheeler side, Bajaj Chetak and Hero Vida’s wider availability is expected to boost the overall sales. <cmsannotation type="cmsannotation" annotationid="Customers continue to shun entry-level cars and two-wheelers" comment="subhead" text="Customers continue to shun entry-level cars and two-wheelers">Customers continue to shun entry-level cars and two-wheelers</cmsannotation> Weak rural recovery has also led to a continued decline in demand for entry-level two-wheelers like Hero CD Dawn and CD Deluxe. According to LKP Securities, market leader Hero has witnessed a 5-10% year-on-year drop in demand in February, with customer footfalls at Hero and rival Bajaj dealerships remaining subdued during the month. Price hikes due to higher input costs and BS VI emission norms, higher fuel prices, and inflation woes have contributed to the decline. “Young customers are not favouring the entry level or small hatchbacks like Wagon R, Alto models and are ready to wait till the SUVs are available,” the brokerage noted, underlining that entry-level car sales continued to struggle. The subdued demand was somewhat offset by the marriage season, according to analysts at Motilal Oswal. The brokerage added that premium two-wheelers like those from Royal Enfield have seen their demand remaining intact. However, the lower availability of test vehicles has resulted in some enquiries not translating to sales. <cmsannotation type="cmsannotation" annotationid="Bajaj Auto to reportedly slash production by 25% amid weak exports" comment="subhead" text="Bajaj Auto to reportedly slash production by 25% amid weak exports">Bajaj Auto to reportedly slash production by 25% amid weak exports</cmsannotation> Bajaj Auto is reportedly planning to slash its production in March by as much as 25% due to weak exports. Exports accounted for 39% of the company’s total sales in January 2023, down from 52% in January 2022. According to a report by the<a href="https://economictimes.indiatimes.com/industry/auto/two-wheelers-three-wheelers/bajaj-auto-plans-production-cuts-amid-uncertainties-over-exports/articleshow/98256284.cms?from=mdr"> Economic Times</a>, Bajaj Auto’s production in March is expected to fall to 2.5-2.7 lakh units, down from an average of 3.38 lakh units in each of the the first nine months of FY23. This will also bring down the company’s total utilisation rate to below 50%. Uncertainties in Nigeria, one of Bajaj Auto’s biggest foreign markets, is likely behind the decision to cut down production, the report added. However, analysts believe the company’s export issues have bottomed out. It remains to be seen whether this translates to sales going forward. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/presumptive-taxation-the-scheme-that-eases-burden-on-small-businesses/articleshow/98183636.cms">Presumptive taxation: The scheme that eases burden on small businesses</a> <a href="https://www.businessinsider.in/india/news/elephant-will-not-march-but-run-powered-by-private-consumption-union-amc/articleshow/98182584.cms">Elephant will not march but run, powered by private consumption: Union AMC</a> <a href="https://www.businessinsider.in/business/corporates/news/india-incs-q3-earnings-largely-meet-analyst-expectations-but-consumption-slowdown-a-worry/articleshow/98154526.cms">India Inc's Q3 earnings largely meet analyst expectations, but consumption slowdown a worry</a>

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