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The Federation of Automobile Dealers Associations (<keyword id="354719" type="General" weightage="80" keywordseo="fada" source="Orion">FADA</keyword>), the leading body of automobile retail in India, on Thursday submitted a critical representation to the Goods and Services Tax (<keyword id="6354679" type="General" weightage="100" keywordseo="gst" source="Orion">GST</keyword>) Council, urging an immediate reduction in the GST rate on two-wheelers from the current 28 per cent to 18 per cent. This timely and decisive intervention is aimed at making two-wheelers more affordable, reviving demand and reinvigorating an industry that has seen a significant slump in sales over the past few years, according to a statement from FADA. FADA President Manish Raj Singhania affirmed, "The two-wheeler industry is at a critical juncture, grappling with unprecedented challenges such as rising inflation, stringent emission norms, and the post-COVID-19 effects in Bharat of India." He said this is the opportune moment for the GST Council to reduce the GST rate on two-wheelers, making them more accessible for the common man, thereby providing the much-needed boost to the industry, generating employment opportunities and fostering India's overall economic growth. FADA's compelling appeal has been forwarded to Finance Minister Nirmala Sitharaman, chair of the GST Council, all GST Council members; the Ministry of Heavy Industries, which supervises the automobile sector and the Ministry of Road Transport and Highways. This action underscores the urgency and significance of the issue, it added. FADA said over the past few years, the prices of various two-wheelers have risen significantly, impacting their affordability for consumers across India. This surge in prices can be attributed to multiple factors, including the rising cost of raw materials, stricter emission norms and higher taxes and levies, FADA said, adding that for instance, the price of the popular -- Honda Activa -- has escalated from Rs 52,000 in 2016 to Rs 88,000 in 2023. Similarly, the Bajaj Pulsar has witnessed a substantial increase from Rs 72,000 in 2016 to Rs 1,50,000 in 2023. The Hero Splendor and <keyword id="1871753" type="General" weightage="50" keywordseo="tvs-jupiter" source="Orion">TVS Jupiter</keyword> have also experienced considerable price hikes over the same period, with their prices soaring from Rs 46,000 to Rs 74,801 and Rs 49,000 to Rs 88,498, respectively. The continuous rise in two-wheeler prices has consequently led to a decline in sales, emphasising the pressing need for intervention and GST rate reduction to restore the industry's growth trajectory, according to the statement. In 2016, two-wheelers accounted for 78 per cent of the total automobile sales in India. However, due to continuous price increases since 2020, this contribution has fallen to 72 per cent in FY23, underlining the impact of the steep price hike. FADA believes that a reduction in the GST rate will address several critical issues facing the industry, including rural distress, the transition from BS-4 to BS-6 emission norms and the sharp increase in two-wheeler prices. Lowering the GST rate will enhance the competitiveness of two-wheelers compared to other transportation modes, thereby increasing sales and revenue for the industry. The association also said two-wheelers play a pivotal role in providing affordable mobility to a large segment of India's population, especially in rural areas where public transportation is sparse. FADA also asserted that two-wheelers, being essential for millions, should not be categorised as sin goods or luxury items for GST taxation purposes. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-app-store-prevented-over-2-billion-in-fraudulent-transactions-last-year-banned-282-million-user-accounts/articleshow/100322718.cms">Apple App Store prevented over $2 billion in fraudulent transactions last year, banned 282 million user accounts</a> <a href="https://www.businessinsider.in/business/auto/news/electric-scooters-and-bikes-may-get-costlier-as-government-looks-to-revamp-the-fame-ii-scheme/articleshow/100321089.cms">Electric two wheelers may get costlier as government looks to revamp the FAME-II scheme</a> <a href="https://www.businessinsider.in/tech/news/how-to-find-phone-numbers-registered-in-your-name-and-block-those-that-arent-yours/articleshow/100297548.cms">How to find phone numbers registered in your name and block those that aren’t yours</a>

Automobile dealers' association seeks GST cut on 2-wheelers from 28% to 18%

<ul><li>Shares of two wheeler maker Bajaj Auto slipped 4% as investors were disappointed with the company’s falling profitability.</li><li>The company’s net profit slumped 22% year-on-year in the December quarter at ₹1,429 crore.</li><li> Further, the company reportedly sees negative industry growth in the next quarter.</li></ul>Shares of Pune-based two wheeler maker Bajaj Auto slipped 4% on Thursday as investors were disappointed with the weak financial performance in October to December quarter. The two wheeler industry is currently reeling under weak demand due lockdown situations and increased cost of vehicles in the last two years. The transition to stricter emission standards, several price hikes by automakers, rising fuel prices and dented purchasing power due to the pandemic has increased the cost of vehicles and impacted the overall demand. In the December quarter, the company’s net profit slumped 22% year-on-year to ₹1,214 crore. According to a CNBC-TV18 <a href="https://www.cnbctv18.com/market/stocks/bajaj-auto-share-price-q3-results-bajaj-auto-stock-price-december-quarter-earnings-12183902.htm">report</a>, the company is now preparing itself for negative industry growth in Q4 (Jan-Mar). Net profit per vehicle for the company is down by 20% year-on-year to ₹9,585 crore. Analysts at ICICIdirect expect the domestic two-wheeler market to revive post FY22 earnings along with domestic three-wheeler sales from a low base on easing of COVID-19 restrictions. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,021 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,429 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jul-Sep FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,762 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,039 crore </td></tr></tbody></table>On January 20, shares of Bajaj Auto slipped 4% to ₹3,309.50 as investors were disappointed with the company’s falling profitability. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,444 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,400 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-green-jumped-45-in-2022-so-far-to-become-more-valuable-than-lt-maruti-suzuki-axis-bank/articleshow/89013318.cms">Adani Green Energy stock has jumped 45% this year to become more valuable than L&amp;T, Maruti Suzuki, and Axis Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cred-expands-esops-pool-to-500-million-employees-can-own-12-5-of-fintech-startup/articleshow/89010053.cms">CRED says that all its employees get stock options, expands pool to $500 million</a>

As tepid two wheeler sales hurt Bajaj Auto’s profitability, stock slides 4%

<ul><li>Union Road Transport and Highways Ministry has found safety system flaws in batteries of <keyword id="929646" type="General" weightage="20" keywordseo="electric-two-wheelers" source="Orion">electric two-wheelers</keyword>.</li><li>The probe revealed that low-grade materials were used to cut the costs.</li><li>Now, a new BIS standard called ‘IS 17855: 2022’ has been designed for battery packs of electrically-propelled road vehicles.</li></ul>As fires in electric vehicles (EVs) continue unabated in the country, an expert committee set up by the Union Road Transport and Highways Ministry has found safety system flaws in batteries of electric two-wheelers. The electric two-wheeler manufacturers took shortcuts in order to bump up the production and meet the growing demand rather than looking into ensuring safety for the riders. The expert panel, which has already shared safety recommendations with the EV manufacturers to fix bigger issues, is set to make its findings public anytime soon, according to sources. The development was first reported by The Economic Times. Union Road Transport and Highways Minister Nitin Gadkari in April had warned EV makers that if any company is found negligent in their processes, "a heavy penalty will be imposed and a recall of all defective vehicles will also be ordered". "We have constituted an Expert Committee to inquire into these incidents and make recommendations on remedial steps. Based on the reports, we will issue necessary orders on the defaulting companies," he had said. The expert committee has found that the EV manufacturers offered no mechanism to identify overheating of cells and isolate failed battery cells. The Defence Research and Development Organisation (DRDO), which was earlier tasked with investigating electric two-wheeler fire incidents by the Road Transport and Highways Ministry, also found serious defects in the EV two-wheeler 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", the DRDO probe had revealed. The Bureau of Indian Standards (BIS) has now issued new performance standards for lithium-ion batteries to safeguard the consumers amid the rising EV fire episodes in the country. The BIS, which comes under the Union Consumer Affairs Ministry, published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries. The new BIS standard called "IS 17855: 2022" has been designed for lithium-ion traction battery packs and systems of electrically-propelled road vehicles. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/impulse-buys-fast-fashion-end-up-in-landfills-and-stay-intact-for-200-years/articleshow/92533424.cms">Impulse buys, fast fashion end up in landfills and stay intact for 200 years</a> <a href="https://www.businessinsider.in/tech/news/tesla-reportedly-laid-off-about-200-workers-in-its-autopilot-division/articleshow/92531180.cms">Tesla reportedly laid off about 200 workers in its Autopilot division</a>

Lack of basic safety systems behind electric two-wheelers fires, says government probe panel

New Delhi: The adoption of <keyword id="20643295" type="General" weightage="100" keywordseo="Electric-two-wheeler" source="keywords">electric two-wheeler</keyword> vehicles in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on a gradual rise and it is expected that their share will rise to upwards of 13 per cent by 2026-27, investment banking company <keyword id="19905137" type="General" weightage="20" keywordseo="Jefferies" source="keywords" meta.keywordsubtype="org" meta.entityname="Jefferies" meta.hostid="261" meta.entityid="Jefferies">Jefferies</keyword> asserted in a report. In the financial year that ended in March 2024, the share of electric two-wheelers was at 5 per cent. Share of EVs in two-wheeler sales rose from just 0.4 per cent in 2020-21 to 5.4 per cent by early 2023, led by rising subsidies and new launches. However, Jefferies claimed that a subsequent reduction in incentives has resulted in the share remaining in the 4-7 per cent range for most of the past 24 months, despite the introduction of lower-priced vehicles by manufacturers. "We currently assume share of E2Ws rising from 5 per cent (0.9mn units) in FY24 to 7 per cent/10 per cent/13 per cent (1.4mn/2.3mn/3.4mn units) in FY25E/FY26E/FY27E, although we now see a downside risk to these estimates in the context of the new scheme targeting just 2.5mn E2Ws over two years," Jefferies said in its report released earlier this week. <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>, which has recently become a publicly listed company, has emerged as the dominant manufacturer in India's electric two-wheelers market, said Jefferies, noting that its market share rose from 21 per cent in 2022-23 to 35 per cent in 2023-24 and further to 49 per cent in 1Q-2024-25. However, as per the Jefferies report, Ola's market share has subsequently fallen to 31 per cent in August and just 29 per cent in September (month-to-date). Bajaj, TVS and Ather, on the other hand, have gained 5-9 percentage points each since June quarter, it said. This week, the Union Cabinet has approved a scheme for the promotion of electric mobility in the country. The scheme has an outlay of Rs 10,900 crore over two years. The Cabinet's approval for the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme' was based on a proposal from the Ministry of Heavy Industries (MHI). Among others, subsidies or demand incentives worth Rs 3,679 crore would be provided to incentivise e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, a release said. The Ministry of Heavy Industries is also introducing e-vouchers for EV buyers to avail of demand incentives under the scheme.

Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies

<ul><li><keyword id="126352" type="General" weightage="100" keywordseo="greaves-cotton" source="Orion">Greaves Cotton</keyword> unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023.</li><li>Company at the event unveiled three two-wheelers under <keyword id="1517554" type="General" weightage="80" keywordseo="ampere" source="Orion">Ampere</keyword> brand series -- Ampere Primus, Ampere <keyword id="3214445" type="General" weightage="50" keywordseo="nxg" source="Orion">NXG</keyword> and a multi-utility scooter Ampere NXU which can be also used for deliveries.</li></ul>New Delhi, Engineering company Greaves Cotton on Wednesday unveiled its range of electric two-wheeler and three-wheeler electric vehicles at the ongoing Auto Expo 2023. Company at the event unveiled three two-wheelers under Ampere brand series -- Ampere Primus, Ampere NXG and a multi-utility scooter Ampere NXU which can be also used for deliveries. In the commercial three-wheeler segment, the company unveiled an electric passenger vehicle Greaves ELP, cargo EV Greaves ELC and a futuristic cargo concept Greaves Aero Vision. Greaves Electric Mobility Private Ltd, CEO and Executive Director, <keyword id="254218" type="General" weightage="50" keywordseo="sanjay-behl" source="Orion">Sanjay Behl</keyword> said Ampere Primus will be available during the ongoing quarter, while rest of the vehicles will be made available during the course of next financial year. "Ampere Primus is now open for bookings across India. Rest of the vehicles will be launched in the next financial year," Behl said. Greaves Cotton Executive Vice Chairman <keyword id="1624060" type="General" weightage="50" keywordseo="nagesh-basavanhalli" source="Orion">Nagesh Basavanhalli</keyword> at the event shared the company's commitment to invest Rs 1,500 crore in the deployment of indigenous electric vehicle ecosystem in the country since its entry into the e-mobility business. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mercedes-honda-bmw-and-others-showcase-some-exciting-car-tech-at-the-ces-2023-these-are-our-favorites/articleshow/96851293.cms">Mercedes, Honda, BMW and others showcase some exciting car tech at the CES 2023 — these are our favorites</a> <a href="https://www.businessinsider.in/tech/news/for-the-first-time-in-history-an-ai-bot-will-reportedly-defend-a-human-in-court/articleshow/96785418.cms">For the first time in history, an AI bot will reportedly defend a human in court</a>

Greaves Cotton unveils new two-wheeler, three-wheeler EVs

<keyword id="10839615" type="UNKNOWN" weightage="20" keywordseo="wholesale-growth">Wholesale growth</keyword> is expected to continue for <keyword id="6387952" type="UNKNOWN" weightage="20" keywordseo="Tractors">tractors</keyword>, <keyword id="410427" type="PERSON" weightage="20" keywordseo="passenger-vehicles">passenger vehicles</keyword> and <keyword id="6379214" type="UNKNOWN" weightage="20" keywordseo="two-wheelers">two-wheelers</keyword> said equity research firm <keyword id="173176" type="DOMAIN" weightage="20" keywordseo="Emkay">Emkay</keyword>. As per its sectoral update, channel checks indicate better retail sales for tractors and PVs, while it remains subdued for 2Ws on a YoY basis. "Tractor industry wholesales should grow strongly at more than 25 per cent on better retails and channel filling." "Volume growth is expected to be positive across regions." According to the update, PV industry volumes are likely to remain in the positive territory, with industry growth at over 15 per cent. "Domestic volumes should grow... on a low base which resulted from supply issues present in the year-ago comparable period." "Discounts have declined YoY - by up to 2 per cent of vehicle prices." Notably, the update expected domestic 2W volume performance should be mixed YoY. "Volume performance in South, East and West regions has been better than the North region." "Retails have declined in the North region due to the weakness in entry-level segment and lower marriage season demand. Executive and premium motorcycles are doing better than entry-level motorcycles. In comparison, exports are expected to be strong across regions, except for the ASEAN market." In addition, the update pointed out that domestic CV volumes will be a mixed bag. "MHCV demand has been improving on strong Tipper or ICV demand and a gradual recovery in replacement demand as well." "The automobile sector remains a key beneficiary of the economic recovery and low interest rates." SEE ALSO: <a href="https://www.businessinsider.in/india/news/bharat-bandh-over-eight-crore-traders-across-india-shut-shop-in-protest-against-rising-fuel-prices-and-changes-in-gst-rules/articleshow/81223361.cms">Bharat Bandh – over eight crore traders across India shut shop in protest against rising fuel prices and changes in GST rules</a> <a href="https://www.businessinsider.in/finance/banks/news/ignore-low-cibil-score-for-street-vendor-loans-work-on-holidays-and-other-diktats-from-indian-government-to-banks-rushing-to-meet-march-target/articleshow/81223572.cms">EXCLUSIVE: Ignore low CIBIL score for street vendor loans, work on holidays, and other diktats from Indian government to banks rushing to meet March target</a> <a href="https://www.businessinsider.in/india/news/india-now-allows-you-to-avail-a-discount-on-flight-ticket-if-you-are-not-carrying-a-check-in-baggage/articleshow/81225977.cms">India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage</a>

Wholesale growth expected to continue for tractors, passenger vehicles and two-wheelers, says equity research firm Emkay

<keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> on Friday reported a 31 per cent growth in its total vehicle <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> at 4,03,003 units in November over the corresponding month of last year. The Pune-based company had sold a total of 3,06,719 vehicles in November 2022, according to a statement. Total domestic sales (two-wheelers and <keyword id="6390018" type="General" weightage="20" keywordseo="commercial-vehicles" source="Orion">commercial vehicles</keyword>) in the previous month grew by a whopping 69 per cent to 2,57,744 units as against 1,52,883 69 units in November 2022. At the same time, <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> during the month under review declined 6 per cent to 1,45,259 from 1,53,836 vehicles shipped out to overseas markets in the same month of last year, as per the statement. Two-wheelers' domestic sales were at 2,18,597 units, registering a growth of 77 per cent over 1,23,657 units sold in November 2022, while exports fell 6 per cent year-on-year to 1,30,451 units in the previous month, it said. The total two-wheeler sales during November 2023 were recorded at 3,49,048 units, growing 33 per cent over the same month last year. The total commercial vehicles sales were 53,955 units in November 2023, as per the statement.

Bajaj Auto sales grow 31 per cent in November

<ul><li>India’s <keyword id="6374783" type="UNKNOWN" weightage="20" keywordseo="two-wheeler">two-wheeler</keyword> market is characterised by intense competition and sluggish sales. </li><li>However, <keyword id="62356" type="COMPANY" weightage="20" keywordseo="TVS">TVS</keyword> Motor Co has recorded above-average growth. </li><li>This is largely due to the success of its newer models. </li></ul>India’s two-wheeler market isn’t what one would refer to as enticing for new entrants. Sales have been <a href="https://www.thehindubusinessline.com/companies/liquidity-crunch-higher-insurance-costs-impact-two-wheeler-sales-in-dec/article25891881.ece">subdued</a> in recent months - an indication of rural distress since the bulk of <keyword id="6359451" type="UNKNOWN" weightage="20" keywordseo="motorcycle">motorcycle</keyword> and <keyword id="6359452" type="UNKNOWN" weightage="20" keywordseo="Scooter">scooter</keyword> sales in the country come from outside urban areas. The market is also extremely heated -- incumbents are trying to outperform each other in terms of prices and product launches. But one company, TVS Motor Co, has overcome these hurdles with relative ease, posting a revenue growth of 26% in the quarter ended December 2018. That is well above the industry average of 8%, according to the company’s FY19 estimates shared over a recent conference call. The uptick is largely attributable to the Chennai-based motorcycle manufacturer’s improved product mix and a surge in export volumes, due in part to the rupee’s weakness and consolidation in markets like The Philippines, which it also serves. The company has also been rolling out a number of new models -- the Radeon motorcycle, the Jupiter Grand and Ntorq scooters as well as the latest version of the Apache motorcycle, which was a play at the growing premium segment. The fuel-efficient Radeon, in particular, was launched to meet the needs of commuters in rural India. Sales of the 110cc motorcycle, which currently clocks in 11,000 units a month, are expected to double, the company said on the analyst call. Priced at around ₹50,000, it is also a value play for cost-conscious commuters between the age of 25 and 35. When compared to other popular mid-sized commuter bikes like the <keyword id="7029" type="COMPANY" weightage="20" keywordseo="Hero">Hero</keyword> Splendor Plus and <keyword id="6358511" type="UNKNOWN" weightage="20" keywordseo="Bajaj">Bajaj</keyword> Platina, which are similarly priced, the Radeon stands out because it’s the latest entrant to the segment, it’s comfortable and boasts a better design, according to Sanjay Sharma, who runs KK Automobiles, a dealership in the Najafgarh on the outskirts of New Delhi. While its other models fare well for different reasons: At ₹86,000, the updated Apache was priced below its immediate competitors in the premium racing category - The Yamaha FZ and <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> CB Hornet, both of which are a little under ₹1 lakh. Meanwhile, its smart scooter brand, the Ntorq, which was launched last February and is priced at a little over ₹60,000, carries a premium as it also India’s first smart scooter, meaning it allows pairing with smartphones. TVS has reportedly <a href="https://www.carblogindia.com/tvs-ntorq-sales/">sold over 20,000 </a>units of the scooter per month in the second half of the year, according to Car Blog India. Clearly pricing has been a strong selling point for TVS in recent months. However, going forward, it may be difficult to keep these products as affordable as they are. The company has already raised prices by an average of 0.9% between April and December 2018. TVS may have to contend higher raw material prices and marketing costs to stay ahead of rising competition, which could potentially trigger a price hike or crimp margins. A government regulation mandating the installation of an anti-lock braking system that comes into force in April could escalate costs further. SEE ALSO: <a href="https://www.businessinsider.com/r-harley-seeks-alliance-for-lightweight-bikes-to-grow-india-business-2018-8?IR=T">Harley seeks alliance for lightweight bikes to grow India business</a> <a href="https://www.businessinsider.com/r-indias-royal-enfield-targets-tripling-of-us-sales-this-year-2018-11?IR=T">India's Royal Enfield targets tripling of U.S. sales this year</a>

In India, TVS Motor has found the sweet spot between product and pricing in a tough market for two-wheelers

<ul><li><keyword id="2665691" type="PERSON" weightage="20" keywordseo="Niti-Aayog">Niti Aayog</keyword> held meeting with chiefs Bajaj Auto and <keyword id="46156" type="CITY" weightage="20" keywordseo="TVS-Motor">TVS Motor</keyword> on Friday. </li></ul><ul><li>The government think tank wants two-wheeler and three-wheeler vehicles in India to go electric by 2023 and 2025 but the industry is protesting. </li></ul><ul><li>The meet was attended by Bajaj Auto MD, Rajiv Bajaj and TVS Motor Chairman, Venu Srinivasan, among others. Hero MotoCorp Chairman Pawan Munjal skipped the meeting. </li></ul>The Narendra Modi government in India is keen on electrifying as many vehicles on Indian roads as possible. However, the latest proposal to set a deadline of 2023 for two-wheeler makers and 2025 for three-wheeler makers has the companies up in arms. In a meeting with representatives of two and three wheeler manufacturing industries, the central think tank of India, the NITI Aayog on June 21, has asked the industry majors to draw up and present a plan to switch to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> (EV’s) in the coming years, in two weeks. However manufacturers have shown disappointment with the plan sitting that they have already been forced to deal with an accelerated timeline for the new emission norms that are due to sweep in in 2020. While Rajiv Bajaj, the Managing Director of Bajaj Auto, reportedly called it ‘shock and awe’, Venu Srinivasan, Chairman, TVS Motor, told the <a href="https://economictimes.indiatimes.com/industry/auto/two-wheelers-three-wheelers/india-inc-wants-nitis-ev-juggernaut-to-move-out-of-the-fast-lane/articleshow/69920504.cms">Economic Times</a> that the government seemed to “negate in one stroke” the strides made by India in building the world’s largest <keyword id="411149" type="PERSON" weightage="20" keywordseo="two-wheeler-market">two wheeler market</keyword>. While Bajaj and TVS argued for more reasonable timelines, Pawan Munjal who heads India’s largest two-wheeler company, Hero Moto Corp, did not even attend the meeting on Friday. Further, the companies argued for fiscal incentives to promote manufacturing and sales of electric two-wheelers and three-wheelers. “I’m in awe of the apparent willingness to subsidise EVs — an approximate ₹1 lakh per vehicle — to help achieve reasonable price parity with ICE two- and three- wheelers for an estimated minimum industry size of 25 million by 2025,” Bajaj said. However, the Niti Aayog reportedly has the support from two-wheeler EV startups, represented by Tarun Mehta, founder of Alther Energy, and Sulajja Motwani of the Firodia group. However, the current manufacturing capacity of the startups is too low to meet the government’s target.

India’s top two-wheeler makers are on a collision course with the government over the deadline for electrification

Sixty-six percent of <keyword id="23012810" type="General" weightage="100" keywordseo="road-traffic-deaths" source="keywords">road traffic deaths</keyword> in <keyword id="19952305" type="General" weightage="20" keywordseo="Southeast-Asia" source="keywords">Southeast Asia</keyword> are of <keyword id="20239488" type="General" weightage="20" keywordseo="pedestrians" source="keywords">pedestrians</keyword>, motorized <keyword id="20937113" type="General" weightage="20" keywordseo="two-wheeler-riders" source="keywords">two-wheeler riders</keyword>, and <keyword id="20007750" type="General" weightage="20" keywordseo="cyclists" source="keywords">cyclists</keyword>, while the highest traffic fatalities in India are among two- and three-wheeler riders, according to the latest <keyword id="20738786" type="General" weightage="20" keywordseo="WHO-report" source="keywords">WHO report</keyword>. The "WHO South-East Asia Regional Status Report on <keyword id="20187029" type="General" weightage="20" keywordseo="road-safety" source="keywords">Road Safety</keyword>" was launched during "Safety 2024", the 15th World Conference on Injury Prevention and Safety Promotion, 2024. According to the World Health Organization (WHO), globally, 30% of reported road traffic deaths involved users of powered two- and three-wheelers. Occupants of four-wheeled vehicles make up 25% of the deaths and pedestrians account for 21 %. Cyclists represent 5% of the deaths. The remaining 20% include occupants of large vehicles, heavy goods vehicles, and other or unknown user types. "In the WHO Southeast Asia Region, the share of reported road traffic deaths is 46% for users of powered two- and three-wheelers, 12 for occupants of four-wheeled vehicles, 17% for pedestrians, 3% for cyclists and 22% for others. In all these countries, vulnerable road users (pedestrians, motorised two-wheeler users and bicyclists) constitute 66% of the total reported road traffic deaths," the report said. "Drivers or riders of two and three-wheelers constitute the highest proportion among all road user categories in India (45.1%), Maldives (100 %), Myanmar (47%) and Thailand (51.4%)," it added. The WHO noted that no country in the South Asian region had achieved the target of reducing its estimated road traffic deaths by 50 %. However, considerable reduction in the WHO's estimated road traffic deaths occurred in the Maldives and Thailand, where estimated road traffic deaths decreased by 46.2% and 41.7 %, respectively. On the contrary, reported road traffic deaths in the region increased by 15 % in the 2010-2021 period. At the country level, no member state of the Southeast Asia Region with more than 10 million population has reported a decrease in road traffic deaths during this period. "However, it should be noted that the reported number of road traffic deaths in Thailand reduced by 22.9% between 2016 and 2021. The estimated road traffic deaths too increased in Bangladesh, India and Nepal during the period 2010-2021 by 23 %, 2% and 25%, respectively," the report said. Etienne Krug, director of the WHO's Department for Social Determinants of Health, said road traffic crashes were a major crisis of the 21st century. "...a large proportion of people who die in road crashes are those who cannot afford to buy a car. This is urgent time to take action. The report reveals that the crisis is huge but we need to understand and act with determination that prevention is possible and needs strict enforcement," he said. The three-day conference is being hosted by the Indian Institute of Technology (IIT), Delhi; George Institute for Global Health in collaboration with the All India Institute for Medical Sciences (AIIMS), National Institute of Mental Health and Neuro Sciences (NIMHANS) and co-sponsored by WHO. "To reduce inequities, we must acknowledge that injuries disproportionately impact vulnerable communities -- because we are far behind in addressing real problems with real solutions. Lived experience shows how policy shapes differential exposure, risk, and outcomes, underscoring the urgent need for change," said Jagnoor Jagnoor, head of injury division at George Institute for Global Health. During the conference, the international experts are uniting with a shared goal of "building a safer future for all: Equitable and sustainable strategies for injury and violence prevention". The conference will focus on five key themes -- improving coordination and collaboration among stakeholders, strengthening capacity for research and practice, integrating injury prevention with global health agendas such as sustainability and equity, empowering communities, and promoting informed policymaking.

Pedestrians, cyclists, two-wheeler riders constitute 66% of road fatalities in Southeast Asia, says a WHO report

Ending the 17 year long monopoly of motorcycles, <keyword id="20630" type="CITY" weightage="100" keywordseo="Honda">Honda</keyword>’s Activa, an automatic scooter is now ruling 2 Wheeler sales as India’s highest selling <keyword id="6374783" type="ORGANIZATION" weightage="80" keywordseo="two-wheeler">two-wheeler</keyword> of 2016. This is with a lead of over 1 lakh units over its nearest competition. 
 
Selling a whopping 1,338,015 units (Jan’16 to June, 2016) compared to 1,233,725 units in the same period of 2015, Activa has a clear 1.04 lakh units lead over the nearest competition motorcycle. The one model contributes over 15% to the country’s two-wheeler industry. To offer a perspective, that’s more than entire 125cc motorcycle segment sales put together! 
 
“Activa today represents the metamorphosis of the society. The superior convenience, unisex appeal coupled with product features (increased mileage, style and technology) has converted millions from pillions to riders”, Mr. <a href="http://www.businessinsider.in/searchresult.cms?query=Yadvinder+Singh+Guleria&amp;sortorder=effectivedate">Yadvinder Singh Guleria</a>, Senior Vice President, Sales &amp; Marketing, Honda Motorcycle &amp; Scooter India said. 
 
Month-wise domestic sale trend: 
<table align="center" border="0" cellpadding="0" cellspacing="0" width="658">
	<tbody>
		<tr>
			<td nowrap="nowrap" rowspan="3">
				2016</td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				Jan</td>
			<td nowrap="nowrap">
				Feb</td>
			<td nowrap="nowrap">
				Mar</td>
			<td nowrap="nowrap">
				Apr</td>
			<td nowrap="nowrap">
				May</td>
			<td nowrap="nowrap">
				June</td>
			<td nowrap="nowrap">
				Total</td>
		</tr>
		<tr>
			<td nowrap="nowrap">
				Activa</td>
			<td nowrap="nowrap">
				210,123</td>
			<td nowrap="nowrap">
				210,028</td>
			<td nowrap="nowrap">
				219,926</td>
			<td nowrap="nowrap">
				233,935</td>
			<td nowrap="nowrap">
				237,317</td>
			<td nowrap="nowrap">
				226,686</td>
			<td nowrap="nowrap">
				1,338,015</td>
		</tr>
		<tr>
			<td>
				Competition Motorcycle</td>
			<td nowrap="nowrap">
				199,345</td>
			<td nowrap="nowrap">
				189,314</td>
			<td nowrap="nowrap">
				209,209</td>
			<td nowrap="nowrap">
				224,238</td>
			<td nowrap="nowrap">
				207,010</td>
			<td nowrap="nowrap">
				204,609</td>
			<td nowrap="nowrap">
				1,233,725</td>
		</tr>
		<tr>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				 </td>
		</tr>
		<tr>
			<td nowrap="nowrap" rowspan="3">
				2015</td>
			<td nowrap="nowrap">
				 </td>
			<td nowrap="nowrap">
				Jan</td>
			<td nowrap="nowrap">
				Feb</td>
			<td nowrap="nowrap">
				Mar</td>
			<td nowrap="nowrap">
				Apr</td>
			<td nowrap="nowrap">
				May</td>
			<td nowrap="nowrap">
				June</td>
			<td nowrap="nowrap">
				Total</td>
		</tr>
		<tr>
			<td nowrap="nowrap">
				Activa</td>
			<td nowrap="nowrap">
				198,148</td>
			<td nowrap="nowrap">
				177,475</td>
			<td nowrap="nowrap">
				207,270</td>
			<td nowrap="nowrap">
				173,087</td>
			<td nowrap="nowrap">
				187,827</td>
			<td nowrap="nowrap">
				196,913</td>
			<td nowrap="nowrap">
				1,140,720</td>
		</tr>
		<tr>
			<td>
				Competition Motorcycle</td>
			<td nowrap="nowrap">
				223,420</td>
			<td nowrap="nowrap">
				182,286</td>
			<td nowrap="nowrap">
				195,433</td>
			<td nowrap="nowrap">
				197,063</td>
			<td nowrap="nowrap">
				241,249</td>
			<td nowrap="nowrap">
				195,108</td>
			<td nowrap="nowrap">
				1,234,559</td>
		</tr>
	</tbody>
</table>
 
 
Since its launch in 2001, the <a href="http://www.businessinsider.in/searchresult.cms?query=Honda+Activa&amp;sortorder=effectivedate">Honda Activa</a> has revived the country’s dying automatic scooter market. Sales of Activa rose exponentially from 55,000 units in its debut year (FY’2001-02) to over 2.46 million units in last FY’2015-16. 
 Today over 12 million Indian families have Activas. To give a better perspective, every second automatic scooter purchased in India today is a <keyword id="371296" type="ORGANIZATION" weightage="80" keywordseo="Honda-Activa">Honda Activa</keyword>. 
 
<a href="https://media.zigcdn.com/media/content/2013/Aug/honda-activa-i-road-test-22082013-main3_560x420.jpg">Image Source</a>

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