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<ul><li><keyword id="1070850" type="General" weightage="20" keywordseo="tata-motors-owned-jaguar-land-rover" source="Orion">Tata Motors-owned Jaguar Land Rover</keyword> reported retail sales of 1,01,994 units in the first quarter ended June 30. </li><li>The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. </li><li>The order book remained strong with over 1,85,000 client orders at quarter end, down from 2,00,000 at March 31, 2023, the company said. </li><li>Shares of Tata Motors scaled a fresh 52-week high earlier in the day before shedding some of the gains to close the day up 3.7%. </li></ul> Tata Motors-owned Jaguar Land Rover on Friday reported a 29% rise in retail sales in the first quarter ended June 30 at 1,01,994 units, as compared to the same period a year ago. The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory filing. Wholesales, excluding those of Chery Jaguar Land Rover China JV, were at 93,253 units in the first quarter, up 30% as compared to the year-ago period. "The order book remained strong with over 1,85,000 client orders at quarter end, reducing from 2,00,000 at March 31, 2023 in line with expectations, as chip and other supply constraints continue to improve," the company said. <keyword id="91410" type="General" weightage="20" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Range Rover Sport and Defender demand remains particularly strong, representing 76% of the order book, it added. Shares of Tata Motors scaled a fresh 52-week high of ₹624.80 on the NSE earlier in the day before shedding some of the gains to close the day at ₹622.90, up 3.7%. (With inputs from PTI)

Tata Motors' JLR Q1 retail sales up 29% in April-June 2023

<ul><li>Two wheeler sales are expected to grow at 15% for next two years, outpacing PVs.</li><li>Sales of 2Ws have been lagging behind PV sales for the last three years.</li><li>Margins of 2W companies are also expected to improve due to moderating metal prices, strong demand. </li></ul>Two wheeler sales are expected to see double digit growth for the next two years, outpacing passenger vehicles, says a report by <keyword id="19905137" type="General" weightage="20" keywordseo="jefferies" source="keywords">Jefferies</keyword>. Two wheelers are expected to grow at a 15% compounded annual growth rate (CAGR) while passenger vehicles and trucks are expected to grow at 7-8% CAGR. The research firm also believes that tractors are at the risk of a downturn after an elongated up-cycle. Their volumes are expected to fall by 9% FY24 and 5% in FY25, followed by a recovery in FY26. Amidst a mixed auto picture, two-wheelers are the preferred picks. “We enter 2024 reiterating our positive view on Indian autos with preference for two-wheelers. After the strong 2023 rally in autos, valuations are not cheap, but we believe premium multiples are justified in most cases for the strong growth outlook and company-specific positives,” said Jefferies. Its preferred buys are <keyword id="20036540" type="General" weightage="20" keywordseo="tvs" source="keywords">TVS</keyword> and Eimco Elecon, followed by <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword>, Bajaj Auto and <keyword id="19983534" type="General" weightage="20" keywordseo="hero-motocorp" source="keywords">Hero Motocorp</keyword>. It also has buy ratings on Maruti and AL, but they’re lower in its pecking order. Turning tide: Sales &amp; profitability Jefferies believes that the tide has now turned for two wheelers after stressful pandemic years. The sales of two wheelers have been lagging behind passenger vehicles (PVs) for the last three years. “Compared to the respective FY19 peaks, FY23 volumes were 23% lower for 2Ws but 15% higher for PVs,” said Jefferies. In 2023, 2Ws started charting their recovery, and grew at 9.5% as compared to 11% growth seen in PVs, as per data by Federation of Automobile Dealers Associations (FADA). Experts also surmise that the year of 2024 will see a boost for two wheelers. “The two wheeler sector expects a boost from new model launches, especially in the first half of the year, and an overall better economic condition coupled with higher EV participation. Improved customer sentiments, due to factors like lower fuel prices and crop payments to farmers, are likely to drive demand,” said <keyword id="20117944" type="General" weightage="20" keywordseo="manish-raj-singhania" source="keywords">Manish Raj Singhania</keyword>, president of FADA in 2024 outlook. Improved margins; EV consolidation Strong demand and new launches are also expected to yield good margins for two-wheeler automakers. They have been stressed between FY21 and FY23 on weak demand as well as a rally in steel and aluminum prices. Commodity prices have turned benign since then which is expected to add to two-wheeler profitability along with sales. “Auto OEM margins are on an improving trajectory as rising demand is boosting pricing power and providing operating leverage benefit, amid a benign commodity price environment,” said Jefferies. Electric vehicle sales are also expected to push for more sales in the two-wheeler category in the coming year. As of the second half of 2023, EVs made up for 5% of the market. “While the reduction in EV subsidies in June 2023 has slowed down the pace of 2W electrification, tighter regulations and lower subsidies are driving consolidation,” opined Jefferies. Top four original equipment manufacturers hold around 80% market share in electric two-wheelers. In the ICE market, the top four players hold 86% of the market share. Two wheeler HHI (Herfindahl–Hirschman Index) is also converging with ICE, which should ease concerns on long-term profitability, says Jefferies. HHI is a measure of market concentration used to determine competitiveness in the market.

India’s auto sales to ride on two wheels in 2024

<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> posted a consolidated net profit of ₹3,203 crore in Q1, beating analyst expectations.</li><li>This quarter’s profits were driven by growth in domestic sales and improved performance of Jaguar Land Rover.</li><li>Total revenue from operations stood at ₹1.02 lakh crore in the first quarter as against ₹71,935 crore in the year-ago period.</li></ul> Indian automaker Tata Motors has reported a consolidated net profit of ₹3,203 crore in the first quarter of the current financial year (Q1FY24) riding on an improved performance at its British subsidiary<a href="https://www.businessinsider.in/business/auto/news/tata-motors-jlr-q1-retail-sales-up-29-in-april-june-2023/articleshow/101575182.cms"> Jaguar Land Rover</a>. In the same quarter last year, the company had reported a loss of ₹5,007 crore. Sectoral analysts had been expecting the reading at around ₹2,000 to 2,500 crore. Total revenue from operations grew 42.1% YoY to ₹1.02 lakh crore in the first quarter as against ₹71,935 crore in the year-ago period. On a standalone basis, the automaker reported a net loss of ₹64 crore for the period under review as against ₹181 crore loss in the first quarter of 2022-23. “FY24 has begun on the right note with all automotive verticals delivering strong performances. The distinct strategy employed by each business is now delivering consistent results and making them structurally stronger. We remain confident of sustaining this momentum in the rest of the year and achieve our stated goals,” said <keyword id="509018" type="General" weightage="50" keywordseo="pb-balaji" source="Orion">PB Balaji</keyword>, Group Chief Financial Officer, Tata Motors. <cmsannotation type="cmsannotation" annotationid="JLR shifts gears" comment="subhead" text="JLR shifts gears"><keyword id="45218" type="General" weightage="80" keywordseo="jlr" source="Orion">JLR</keyword> shifts gears</cmsannotation> Tata Motors' British arm JLR reported a 57% increase in sales at 6,903 million pounds, when compared to the same period last fiscal. The operating margin, calculated as earnings before interest and taxes (EBIT) came in at 8.6% for the quarter under review. JLR claims that it has had the highest production levels in nine quarters and thus achieved the highest Q1 cashflow on record. "I am pleased to report a third consecutive quarter of strengthening financial performance for JLR... This is testament to the thousands of determined people in the business working tirelessly to deliver every aspect of our Reimagine strategy,” said Adrian Mardell, chief executive officer, JLR. <cmsannotation type="cmsannotation" annotationid="Tata Motors’ Q1 results compared" comment="subhead" text="Tata Motors’ Q1 results compared">Tata Motors’ Q1 results compared</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY24 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:1pt 1pt 1pt 1pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY23 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,02,236 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,935 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:1pt 1pt 1pt 1pt;overflow:hidden;overflow-wrap:break-word;">₹1,05,932 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,203 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹5,007 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:1pt 1pt 1pt 1pt;overflow:hidden;overflow-wrap:break-word;">₹5,408 crore </td></tr></tbody></table> Source: Company reports “We aim to deliver a strong performance in the rest of the year too, thanks to a healthy order book coupled with low-break-even in JLR, a steady improvement in demand whilst we continue to drive our demand-pull strategy in CV, a set of exciting launches ahead of the festive season in PV and continued aggression in EVs,” the company said in its exchange filing. Shares of the company ended 1.62% up at ₹639.45 apiece ahead of the earnings report, on the BSE. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mukesh-ambanis-entourage-gets-a-new-10-crore-bulletproof-mercedes-benz-s680-guard/slidelist/102101339.cms">Mukesh Ambani’s entourage gets a new ₹10 crore bulletproof Mercedes-Benz S680 Guard</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-5-z-flip-5-galaxy-watch-series-6-and-more-set-to-launch-july-end/articleshow/101538049.cms">Samsung Galaxy Z Fold 5, Z Flip 5, Galaxy Watch Series 6 and more set to launch July-end</a> <a href="https://www.businessinsider.in/business/news/netflix-india-ends-password-sharing-outside-households/articleshow/101976844.cms">Netflix India ends password sharing outside households – Here’s how it will work</a>

Tata Motors posts net profit of ₹3,203 cr in Q1 on improved JLR performance

<ul><li>Analysts are bullish on <keyword id="42747" type="General" weightage="100" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> thanks to robust performance by the car maker’s British subsidiary, Jaguar Land Rover.</li><li><keyword id="45218" type="General" weightage="80" keywordseo="jlr" source="Orion">JLR</keyword> expects its wholesale volumes to rise 25% in FY24, and its debt to reduce to £2 billion from the existing £3 billion.</li><li>Tata Motors’ domestic businesses also delivered margin expansion, with its net debt falling to ₹6,200 crore in FY23, the lowest in 15 years.</li><li>Robust performance across segments also helped the company declare its first dividend since FY16.</li></ul>Tata Motors is driving in top gear, thanks to a strong performance by its British subsidiary Jaguar Land Rover (JLR) alongside robust execution across segments in its domestic business. It topped street estimates with a <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">consolidated net profit of ₹5,408 crore in Q4</a> and analysts expect the momentum to continue in the new financial year aided by multiple tailwinds. Tata Motors’ robust numbers in the March quarter were aided by JLR’s performance – the UK-based luxury car maker posted free cash flow of £815 million during the quarter. JLR accounts for 80% of Tata Motors’ consolidated revenue, so its strong performance has a large impact on Tata Motors’ performance. In addition, Tata Motors’ domestic business also delivered an improvement in margins across segments, helping the company post its highest-ever consolidated revenue of ₹1.06 lakh crore in Q4, registering a growth of 35% on year. “Tata Motors executed a strong show across key verticals in Q4 FY23 with commercial vehicles earnings before interest, taxes, depreciation and amortisation (EBITDA) margins crossing the 10% mark after 4 years and JLR delivering a strong £815 million free cash flow,” said the analysts at Motilal Oswal. Tata Motors declared a dividend of ₹2 per ordinary share, its first since FY16. The Indian business’ net debt stood at ₹6,200 crore in FY23, which is the lowest in 15 years. The street also celebrated its earnings as its shares rose by 4% hitting a fresh 52-week high of ₹537 a piece before closing at ₹531. <cmsannotation type="cmsannotation" annotationid="The JLR boost" comment="subhead" text="The JLR boost">The JLR boost</cmsannotation> Analysts expect Tata Motors to gain more momentum going forward, thanks to JLR’s healthy order book, softening commodity prices and sustained free cash flow generation. JLR’s volumes surged to 1.07 lakh units in Q4, rising by 20%. In a post-earnings call, the luxury car maker said that its current order book stands at 2 lakh units, and that the overall demand outlook remains healthy. Of this, 1.5 lakh orders are for high-margin cars like the Range Rover, Range Rover Sport and Defender. The company has planned a ramp up of capacities during FY24, with capital expenditure budgeted at £3 billion, up from £2.35 billion in FY23. Overall, JLR is targeting volumes of 4 lakh units in FY24 which is a growth of 25% when compared to FY23’s volumes of 3.21 lakh units. Thanks to improving margins and volumes, JLR is aiming to reduce its debt to £2 billion from £3 billion during FY24, with a target of becoming net debt free in FY25. Not just this, JLR is also the dominant industry player in the electric passenger vehicle space in its home market, UK, with a market share of over 80%. “Demonstrated capability in newer technologies in the commercial vehicle space and pricing discipline across industry to aid aspiration of double-digit margins ahead,” said analysts at ICICI Direct. <cmsannotation type="cmsannotation" annotationid="Margins expand in domestic businesses too" comment="subhead" text="Margins expand in domestic businesses too">Margins expand in domestic businesses too</cmsannotation> Tata Motors’ commercial and passenger vehicle segments witnessed margin expansion in the March quarter – while the commercial vehicle segment delivered a 420 basis point margin expansion YoY to 10.1%, the passenger vehicle segment reported a 40 basis point increase to 7.3% in this period. Going forward, the company expects to touch double-digit margins and a sustained free cash flow generation. “Tata Motors should witness a healthy recovery as supply-side issues ease (for JLR) and commodity headwinds stabilise (for the India business),” said the analysts at Motilal Oswal. <cmsannotation type="cmsannotation" annotationid="Analysts bullish" comment="subhead" text="Analysts bullish">Analysts bullish</cmsannotation> Analysts are broadly bullish about Tata Motors’ growth prospects in FY24, thanks to lower input costs and JLR’s focus on capacity expansion as well as investments in the electric vehicle (EV) space. “Firmer commitment towards EV by JLR with an accelerated investment plan of £15 billion spend over the next five years will be one of the key triggers for future price performance,” ICICI Direct said. The brokerage added that it expects the company’s revenue to grow at a 20.1% compounded annual growth rate over FY23-25. “It will benefit from the commercial vehicle upcycle and stable growth in passenger vehicles, company-specific volume/margin drivers, and a sharp improvement in free cash flow as well as reduction in net debt in both JLR and the India businesses,” the Motilal Oswal report said, explaining its bullish outlook. Overall, brokerages affirmed their bullish outlook, raising their target prices to an average of ₹623, which is an upside of 17% from the current share price of ₹531. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a> <a href="https://www.businessinsider.in/tech/news/heres-how-googles-new-ai-updates-will-transform-your-search-experience/articleshow/100242791.cms">Here’s how Google’s new AI updates will transform your search experience</a> <a href="https://www.businessinsider.in/tech/mobile/news/how-to-track-and-block-your-lost-smartphones-using-the-sanchar-saathi-portal/articleshow/100242116.cms">How to track and block your lost smartphones using the Sanchar Saathi portal</a>

Tata Motors in top gear, JLR to drive growth in FY24

<ul><li>Tata Motors reported a 4% fall in total domestic sales in April as compared to the same period last year.</li><li>Hero MotoCorp announced a dip of 5% in its total wholesales as it sold 3.96 lakh units in April against 4.18 lakh units last year.</li><li>Maruti Suzuki reported a growth of 6.5% in passenger vehicles, while TVS Motor announced a 4% rise in sales to 3.06 lakh units in April.</li></ul>Shares of automobile companies remained in focus on Tuesday after the April sales data of Tata Motors and Hero MotoCorp disappointed the street. At the same time, Maruti Suzuki, TVS Motor and Eicher Motor reported healthy growth in sales. Tata Motors reported a 4% fall in total domestic sales to 68,514 units in April as compared to 71,467 units during the same period last year. Total commercial vehicle sales of the automaker also dipped 27% to 22,492 units in April from 30,838 units last year. Also, its total wholesales declined 4% to 69,599 units as compared to 72,468 units last year. Following the weak sales, shares of Tata Motors fell more than 2% on Tuesday. Two-wheeler manufacturer Hero MotoCorp also reported a dip of 5% in its total wholesales — as it sold 3.96 lakh units in April against 4.18 lakh units last year. Shares of Hero MotoCorp were down more than 2%. Domestic sales for the two wheeler maker declined marginally to 3.86 lakh units in April 2023 from 3.98 lakh units in April 2022. But its exports slumped over 50% to 9,923 units from 20,132 units last year. The company said it expects the momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, a healthy growth in the country's GDP and positive consumer sentiment. Maruti Suzuki, TVS Motor, Eicher Motors shine India’s largest carmaker Maruti Suzuki announced a good sales growth of 6.5% in passenger vehicles to 1.6 lakh units in April as compared to 1.5 lakh during the same period last year. It registered a 7% increase in total dispatches to dealers at 1.6 lakh in April. Its total sales including domestic and exports rose to 1.6 lakh units from 1.5 lakh units last year. As a result, shares of Maruti Suzuki gained 2.15% to ₹8,771. The automaker’s total domestic sales including PV, LCV and OEM stood at 1.43 lakh units as compared to 1.32 lakh units last year. Maruti Suzuki highlighted that it has been facing a shortage of electronic components while it has taken all possible measures to minimise the impact. Meanwhile, TVS Motor Company announced a 4% rise in sales at 3.06 lakh units in April 2023 from 2.95 lakh units in the same month, last year. TVS’ two-wheeler segment delivered a sales growth of 5% to 2.94 lakh units from 2.8 lakh units during the same period last year. Motorcycle volumes rose 10% to 1.52 lakh units from 1.39 lakh units. Scooter sales grew 5% to 1.07 lakh units from 1.02 lakh units last year. Reacting to the April sales numbers, shares of TVS rose 1.55% to ₹1,156 per share. Its electric vehicle, the iQube, reached a sales milestone of 1 lakh units. “The production for April 2023 was constrained due to AIS156 changeover and supply chain challenges, TVS Motor is confident of ramping up from the month of May 2023. The order book for TVS iQube continues to be very robust and TVS Motor will retain the growth momentum,” said the company in an exchange filing. At the same time, Eicher Motors reported a 18% on year jump in sales volumes of Royal Enfield motorcycles at 73,136 units against 62,155 units last year. Meanwhile, the international business of the company declined 49% to 4,255 units that were exported in April 2023 as against 8,303 units in April 2022. The models with engine capacity up to 350cc recorded 26% sales growth at 64,728 units as against 51,564 units in April 2022. Meanwhile, the sales of models with engine capacity exceeding 350cc dropped 21% to 8,408 units sold against 10,591 units in the same period last year. As a result, shares of the automaker rose 1.77% to ₹3,359 apiece. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-world-need-welders-drivers-and-specialised-teachers-to-prepare-the-next-generation-for-a-new-world/articleshow/99927007.cms">Teachers in demand for a ‘new world’ as tech is all set of eat away jobs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/7-out-of-10-indians-are-unable-to-identify-ai-voice-call-scams-and-half-fall-for-scams-with-monetary-losses/articleshow/99924644.cms">7 out of 10 Indians are unable to identify AI voice call scams, and half fall for scams with monetary losses</a>

Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise

<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> will deliver 10,000 XPRES T EVs to BluSmart Electric Mobility.</li><li>The vehicle would be used across the country for commuters.</li><li>BluSmart had pr<keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">ev</keyword>iously ordered 3,500 XPRESS T EV in October last year.</li></ul>Automobile giant Tata Motors has bagged India’s biggest electric vehicle (EV) fleet order of 10,000 vehicles from BluSmart Electric Mobility. As a part of the agreement, Tata Motors will deliver 10,000 XPRES T EVs to this Deepika Padukone-backed all-electric cab service company. BluSmart Electric Mobility had previously ordered 3,500 XPRESS T EV in October last year and the current order is an addition to this. The vehicle — which was launched last July exclusively for fleet customers — would be used across the country for commuters. It packs a high energy density battery of 21.5 kilowatt-hour (kWh) and 16.5 kWh and can be charged from 0- 80% in 90 mins and 110 mins, respectively. “Our XPRES-T EV fleet offers an optimal battery size along with a captive fast charging solution and has already set benchmarks in its category. Tata Motors is constantly working towards educating and enhancing the adoption of electric mobility in India and we hope that more people join us in this journey as we mobilize the nation,” Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors — which manufactures TATA Nexon EV and Tata Tigor EV — claims to be leading the e-mobility wave in India with a commanding market share of 87%. It sold 25,000 EVs in the fiscal year 2022. BluSmart Electric Mobility was founded in 2019 by Anmol Jaggi, Puneet Singh Jaggi and Punit Goyal. The company has raised $67 million to date from marquee investors Alteria Capital, Stride Ventures and BlackSoil as investors. The three-year-old startup aised <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/blusmart-raises-usd-50-million-in-extended-series-a-round-to-rapidly-scale-its-e-fleet/91758760">$50 million </a>last month to expand across Delhi NCR and other metro cities. The company claims to have covered 50 million clean kilometers and delivered over 1.6 million zero-emission rides. “We are building a large-scale integrated EV mobility ecosystem in India - from the country's largest fully-electric ride hailing service to the largest network of EV charging super hubs. With the increasing fleet size we are leading India on the path to reliable, sustainable and zero-emissions mobility and also creating more inclusive and economic opportunities for driver partners,” said Anmol Singh Jaggi, co-founder at BluSmart Electric Mobility. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/dmart-owner-radhakrishna-damani-loses-5-bn-as-even-essentials-become-too-expensive-for-indians/articleshow/92031475.cms">DMart owner Radhakrishna Damani loses $5 bn as even essentials become too expensive for Indians</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a> <a href="https://www.businessinsider.in/business/news/inox-leisure-pvr-has-high-hopes-from-its-future-but-its-mostly-based-on-good-movies/articleshow/91980544.cms">Brahmastra, Laal Singh Chaddha and Avatar — movies that can determine the fortunes of INOX and PVR</a>

Tata Motors bags India’s biggest EV fleet order from cab company BluSmart

<ul><li>M&amp;M, Ashok Leyland and Tata Motors have recovered from their intraday low.</li><li>Gadkari while speaking at a SIAM conference had said that the rising level of pollution is a health hazard for citizens.</li><li>There is no such proposal currently under active consideration by the government, said Gadkari in is clarification</li></ul> The auto index, <keyword id="3540651" type="General" weightage="20" keywordseo="Nifty-Auto" source="Orion">Nifty Auto</keyword>, recovered from its 400 point or approximately 2.5% fall after Union Minister <keyword id="26680" type="General" weightage="50" keywordseo="nitin-gadkari" source="Orion">Nitin Gadkari</keyword> clarified on Tuesday clarified his '10% additional <keyword id="18747014" type="General" weightage="60" keywordseo="GST-on-diesel-vehicles" source="Orion">GST on diesel vehicles</keyword>' comment made earlier in the morning. At the time of updating the story, the index is 1.6% in the red. Auto stocks had fallen sharply after Gadkari said he will seek a "<keyword id="2169429" type="General" weightage="60" keywordseo="pollution-tax" source="Orion">pollution tax</keyword>" in the form of additional <keyword id="6354679" type="General" weightage="80" keywordseo="gst" source="Orion">GST</keyword> of 10% on diesel vehicles and gensets in order to cut down on air pollution. This in turn has dragged the stocks down as most of the commercial vehicles in the country currently run on diesel. At the time of updating, Mahindra and Mahindra is down 1.7% but shown a recovery from the 3.48% slide. Ashok Leyland has now recovered slightly too and is down 2.4% while Tata Motors which had slipped 2.8% is now down 1.8%. The Road and Transport Minister has subsequently clarified his comment on X (formerly Twitter). He said that that there is no such proposal currently under active consideration by the government. <div type="twitter" handle="nitin_gadkari" handlename="nitin_gadkari" favoritecount="0" retweetcount="0" id="1701501884324860043"></div> Earlier, speaking at the 63rd Annual SIAM convention Delhi, the Union Road Transport and Highways Minister said the rising level of pollution is a health hazard for citizens. "I am going to handover a letter to the Finance Minister this evening stating that an additional 10% GST be put on diesel-powered vehicles," Gadkari said. In the passenger vehicle segment, various carmakers including Maruti Suzuki India and Honda have already stopped manufacturing diesel cars. Gadkari said the contribution of diesel cars has already come down drastically in the country and the manufacturers need to stop selling them in the market. Terming diesel as a hazardous fuel, he noted that the country has to import the fuel to meet the demand. "Say goodbye to diesel... Please stop making them, otherwise we will just increase the tax so much that it would become difficult to sell diesel cars" Gadkari said. He said he will propose additional GST on diesel-powered generators as well. Automobiles are currently taxed at 28% GST, with additional cess ranging from 1% to 22% depending on the type of vehicle. SUVs attract the highest GST at the rate of 28% along with a compensation cess at 22%. Gadkari also asked the industry to focus on environment-friendly alternative fuels like ethanol. He also asked the industry to focus on green hydrogen. Explained: <a href="https://www.businessinsider.in/policy/economy/news/what-is-ethanol-blending-current-targets-and-challenges-for-india/articleshow/103460113.cms" data-type="tilCustomLink" target="_blank">What is ethanol blending and what are the challenges faced by India</a>

Auto stocks recover after Gadkari clarifies his '10% additional GST on diesel vehicles' comment

April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities

<ul><li>The future looks bright for India’s two-wheeler makers, who are now expected to outpace their peers in the passenger vehicles segment over the next two years.</li><li>The two-wheeler segment is expected to benefit from an imminent replacement cycle as well as a shift in consumer buying towards electric vehicles, and premium scooter and bikes.</li><li>Overall, the outlook for the Indian auto sector across segments is positive, with Jefferies expecting a volume growth in the range of 11% to 18% in FY24 and FY25.</li></ul>The future looks brighter for India’s two wheeler makers who have seen a volume decline of nearly 35% between FY19-22. Going forward however, global brokerage Jefferies expects the two-wheeler segment to outpace the passenger vehicle segment sales growth over FY24-25. The replacement cycle, which was delayed by the pandemic, will kick in the current and next fiscal years, believe analysts at Jefferies. Overall, its outlook for the Indian auto sector across segments is positive, with Jefferies expecting a volume growth in the range of 11% to 18% in FY24 and FY25. “We remain positive on Indian autos with the sector in midst of a strong earnings cycle. Strong top-line growth and better margins should fuel double-digit earnings per share compounded annual growth rate (CAGR) for most companies,” said Jefferies. Despite a challenging global environment in FY23, Indian auto companies made the most of the first disruption-free year after the Covid-19 pandemic. Domestic sales rose 21% year-on-year in the 11 months of FY23 when compared to the same period in FY22. Industry body <keyword id="610395" type="General" weightage="50" keywordseo="federation-of-automobile-dealers-association" source="Orion">Federation of Automobile Dealers Association</keyword> (<keyword id="354719" type="General" weightage="50" keywordseo="fada" source="Orion">FADA</keyword>) <a href="https://www.businessinsider.in/finance/news/after-21-growth-in-fy23-auto-sales-to-hit-slow-lane-in-fy24-fada/articleshow/99235136.cms">underlined</a> that FY24 will be a year of consolidation, with growth expected to be in the low single digits due to price hikes and inflation impacting entry-level sales, among other factors. <cmsannotation type="cmsannotation" annotationid="Two-wheelers to undergo premiumisation" comment="subhead" text="Two-wheelers to undergo premiumisation">Two-wheelers to undergo premiumisation</cmsannotation> Heading into FY24, the analysts at Jefferies note that factors like a low base and replacement demand will aid volume growth in the two-wheeler segment. It’s not just the volumes which are expected to pick up – other factors like shifting consumer preferences towards more premium vehicles and softening commodity prices are expected to aid the margins of auto companies going forward. “We expect 1% to 4% earnings before interest, taxes, depreciation and amortisation (EBITDA) margin expansion for most of our covered auto OEMs over FY23-25E, led by better pricing power amid good demand, and operating leverage benefit,” said Jefferies. While passenger vehicles witnessed premiumisation in FY23 as well, as witnessed by the sustained growth in demand for the costlier sports utility vehicles (SUV) over entry-level options, analysts suggest a similar trend of premium two-wheelers is also emerging. According to Jefferies, while sub-125cc two-wheelers share will drop from 52% in FY22 to 45% by FY26, the share of premium scooters and bikes is expected to rise from 44% to 53% in this period, with electric vehicles also aiding this shift. <cmsannotation type="cmsannotation" annotationid="TVS Motor, Tata Motors top picks as EVs gather pace" comment="subhead" text="TVS Motor, Tata Motors top picks as EVs gather pace"><keyword id="46156" type="General" weightage="100" keywordseo="tvs-motor" source="Orion">TVS Motor</keyword>, <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> top picks as EVs gather pace</cmsannotation> While the outlook for the Indian auto sector remains healthy over the next two years, the analysts at Jefferies have picked <keyword id="62356" type="General" weightage="50" keywordseo="tvs" source="Orion">TVS</keyword> Motor and <keyword id="8555" type="General" weightage="80" keywordseo="tata" source="Orion">Tata</keyword> Motors as their favourites, apart from auto components manufacturer Sona BLW. The common factor between these three companies is that they cater to the electric vehicle demand. In the listed space, TVS Motor leads the market in terms of electric two-wheelers, while <a href="https://www.businessinsider.in/business/news/tata-motors-rallies-nearly-8-on-strong-jlr-sales-in-march-quarter-analysts-bullish-with-an-eye-on-margins/articleshow/99372607.cms">Tata Motors</a> has a market share of 80% in electric passenger vehicles. “TVS should be a key beneficiary of the potential two-wheeler demand recovery in both India and export markets. It has also risen to the second position in electric two-wheelers with its EV market share approaching that of internal combustion engine (ICE) scooters,” the brokerage said. Tata’s early shift to electric vehicles reflects its dominance in this space (electric passenger vehicles), and also in its own portfolio – electric vehicles now account for nearly 15% of Tata Motors’ portfolio. Its British subsidiary, JLR, also has a strong order book and its focus on selling higher-margin SUVs should help boost Tata Motors’ overall margins, too. On the whole, despite concerns of a global economic slowdown, Indian auto companies are looking at a healthy growth over the next two years thanks to robust domestic demand, and an expected recovery in global markets. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/retail-investors-increase-stakes-in-all-adani-stocks-after-hindenburg-report/articleshow/99429000.cms">Retail investors ‘buy the dip’ in all ten Adani group stocks</a> <a href="https://www.businessinsider.in/finance/news/strong-q4-on-the-cards-but-concerns-emerge-on-fall-in-casa-deposits-and-credit-offtake-slowdown/articleshow/99396102.cms">Strong Q4 on the cards, but concerns emerge on fall in CASA deposits and credit offtake slowdown</a> <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-it-oil-gas-stocks-worth-13734-crore-in-march/articleshow/99375107.cms">FPIs offload IT, oil &amp; gas stocks worth ₹13,734 crore in March; remain net sellers of Indian stocks for 2 years running</a>

After languishing since FY19, two-wheeler growth to outpace passenger vehicles in FY24-25

The government has ordered a probe into <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>' Nexon EV fire incident in Mumbai, as the company was investigating the "isolated thermal incident". The Defence Research and Development Organisation (DRDO), which was earlier tasked with investigating electric two-wheeler fire incidents by the Union Road Transport and Highways Ministry, would lead the probe into Nexon EV fire too. The DRDO probe had found serious defects in the batteries. These defects occurred because the electric two-wheeler manufacturers like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, Ola Electric and Boom Motors may have used "lower-grade materials to cut costs". A <keyword id="7931165" type="General" weightage="20" keywordseo="Tata-Nexon-EV" source="Orion">Tata Nexon EV</keyword> caught fire in Mumbai and the company said on Thursday a detailed investigation is currently being conducted to ascertain the facts of the recent isolated thermal incident that is doing the rounds on social media. The EV car fire incident was reported from Vasai West (near Panchvati hotel) in Mumbai late on Wednesday. "We will share a detailed response after our complete investigation. We remain committed to the safety of our vehicles and their users," the company said in a statement. <keyword id="2055885" type="General" weightage="20" keywordseo="tata-nexon" source="Orion">Tata Nexon</keyword> EV is the highest selling electric car in India and at least 2,500-3,000 cars are being sold every month in the country. The company has so far sold over 30,000 EVs, most of which are Nexon models. "This is a first incident after more than 30,000 EVs have cumulatively covered over 100 million km across the country in nearly four years," said the company. As fires and explosions in electric two-wheelers continue unabated, the government is all set to introduce EV battery standards (BIS standards) for EV two-wheelers that will be expanded to four-wheelers at a later stage. The BIS standards for EV batteries will look into "size, connectors, specification and minimum quality of cells, the battery's capacity". Earlier, NITI Aayog in a discussion paper also stressed upon the need for BIS standards as the first step towards a national battery swapping policy. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/hp-launches-four-new-gaming-laptops-starting-at-inr-67999-in-india/articleshow/92427741.cms">HP launches four new gaming laptops starting at ₹67,999 in India</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-show-signs-of-life-after-a-bloodbath-but-future-remains-uncertain/articleshow/92427941.cms">Cryptocurrencies show signs of life after a bloodbath, but future remains uncertain</a>

You Searched For "tata motors order" and got 10 results

Tata Motors' JLR Q1 retail sales up 29% in April-June 2023

BI India Bureau

India’s auto sales to ride on two wheels in 2024

Katya Naidu

Tata Motors posts net profit of ₹3,203 cr in Q1 on improved JLR performance

Sourabh Jain

Tata Motors in top gear, JLR to drive growth in FY24

Rounak Jain

Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise

Bhakti Makwana

Tata Motors bags India’s biggest EV fleet order from cab company BluSmart

Kritti Bhalla

Auto stocks recover after Gadkari clarifies his '10% additional GST on diesel vehicles' comment

BI India Bureau

April Auto Sales: Maruti Suzuki flags decline in bookings in April, electric two-wheelers lose momentum due to FAME-II irregularities

Rounak Jain

After languishing since FY19, two-wheeler growth to outpace passenger vehicles in FY24-25

Rounak Jain

Tata Nexon EV fire: government orders probe into the incident

IANS

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