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<keyword id="20163833" type="General" weightage="100" keywordseo="Passenger-vehicle" source="keywords">Passenger vehicle</keyword> wholesales in India declined 2.5 per cent year-on-year to 3,41,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 3,50,355 units in July 2023, <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">automobile industry</keyword> body <keyword id="20185536" type="General" weightage="20" keywordseo="SIAM" source="keywords">SIAM</keyword> said on Wednesday. <keyword id="21653561" type="General" weightage="20" keywordseo="utility-vehicles" source="keywords">Utility vehicles</keyword> continued to drive sales of PVs, clocking 1,88,217 units last month, as against 1,80,831 units in July 2023, a growth of 4.1 per cent, as per the data issued by the Society of Indian Automobile Manufacturers (SIAM). Passenger cars, however, recorded a drop of 12 per cent at 96,652 units, as against 1,09,859 units in the same month last year. Industry observers pointed out that after high-paced growth witnessed in the past couple of years, the industry is witnessing moderation in demand. Besides, Original Equipment Manufacturers (OEMs) also undertook stock corrections in July to reduce inventory in the network. As per SIAM data, <keyword id="22783202" type="General" weightage="20" keywordseo="two-wheeler-wholesales" source="keywords">two-wheeler wholesales</keyword> grew by 12.5 per cent to 14,41,694 units last month, as compared to 12,82,054 units in July 2023. <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">Motorcycles</keyword> wholesales were up 4.1 per cent at 8,50,489 units in July 2024, as against 8,17,206 units in the year-ago month, SIAM said. Scooters sales were up 29.2 per cent at 5,53,642 units last month, as against 4,28,640 units in the year-ago period. Three-wheeler wholesales also rose 5.1 per cent to 59,073 units from 56,204 units in July last year. "Though three-wheeler and two-wheeler segments are performing well, there has been some de-growth of passenger vehicles and commercial vehicles in July 2024, compared to July 2023," SIAM President Vinod Aggarwal said in a statement. He, however, said the above average rainfall coupled with upcoming festive season is likely to again propel growth in the short term. "In addition, enabling budget announcements which emphasise on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the auto sector in the medium-term," Aggarwal said.

Domestic passenger vehicle wholesales dips 2.5% at 3,41,510 units in July: SIAM

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

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

<ul class="summary-list"><li>Utility bills have been shrinking after years of increases, Bank of America says.</li><li>But the firm says electricity costs have jumped with power demand quickly rising.</li></ul>Shrinking utility bills have given consumers some room to breathe, but the relief could be cut short by the massive power demands of artificial intelligence, Bank of America <a target="_blank" href="https://institute.bankofamerica.com/content/dam/bank-of-america-institute/economic-insights/powering-the-revolution.pdf">reported</a> Tuesday.In a new note, the bank cited that the average year-over-year median payment fell by 1.4% in the three months through May. It's a welcomed drop for consumers, who have faced climbing costs in the preceding two years.While prices still remain well above 2019 levels, negative price growth is nothing to shrug at, the analysts wrote: on average, utility payments make up around 8% of income in households making less than $4,000 a month, according to internal data.But signs are already showing that the reprieve won't be long-lasting.Although payments have declined, electricity prices — the chief component driving utility costs — have been rising quickly, BofA noted. Through May, the year-over-year electricity rate reached 5.9%, a jump from January's 3.8.The upswing is on account of increased power demand, fueled by a range of diverse sources.In part, a hotter climate has pushed up electricity consumption, as households <a target="_blank" href="https://markets.businessinsider.com/news/commodities/electricity-price-biggest-increases-us-regions-energy-bills-summer-heatwave-2024-6">turn up their air conditions</a> or make greater use of heat pumps.Legislation, such as the Inflation Reduction Act and CHIPS Act, have also contributed. Not only have they bolstered the prevelance of electric vehicles, power-straining domestic manufacturing has jumped as a result, the bank said."Given the long timelines in building large plants there is probably much more to come," it predicted.But AI is the front-and-center factor that will drive utility costs up over a potentially multi-decade horizon, BofA noted.While the technology's capabilities have captivated Wall Street in recent years, making use of AI is incredibly power-sapping, the bank highlighted:"For example, BofA Global Research shows that classifying text using AI uses around 2 kilowatt hours per one thousand tasks, but generating images using AI takes almost 3,000 kilowatt hours for the same number of tasks," analysts wrote. "For reference, the average US household uses around 886 kilowatt hours (kWh) per month."What's more, the semiconductor chips that operate the AI software run much hotter than their predecessors, and require liquid cooling — a system that also drags on electrical power. Added is the rising expansion of cloud servers, which also help handle AI services.By 2026, BofA expects that an additional 18 to 28 gigawatts will needed of electric capacity. Higher demand cloud servers has already caused a upswing in commercial electricity demand, such as in Virginia and Texas.Both states are major hubs for the data centers that run the technology."While the gyrations of global commodity prices, especially for fossil fuels, will likely continue to impact the price consumers pay for energy, the need for extra capacity in the electricity generation system may well act as a headwind to any prolonged drop in their utility bills," the bank said.For investors, the rising power demand has drawn a spotlight on utility stocks, projected to be the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/ai-stocks-to-invest-artificial-intelligence-data-center-energy-companies-2024-6">AI boom's actual winners</a>.

Utility bills are getting cheaper, but AI could spoil the party 

<keyword id="22293284" type="General" weightage="20" keywordseo="Union-Minister-for-Road-Transport-and-Highways" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Minister for Road Transport and Highways" meta.hostid="261" meta.entityid="Union Minister for Road Transport and Highways">Union Minister for Road Transport and Highways</keyword>, <keyword id="19897455" type="General" weightage="20" keywordseo="Nitin-Gadkari" source="keywords">Nitin Gadkari</keyword>, said that the govt has implemented a scheme to provide <keyword id="20322976" type="General" weightage="20" keywordseo="cashless-treatment" source="keywords">cashless treatment</keyword> to victims of road accidents. The minister informed the Parliament on Thursday that the <keyword id="19946335" type="General" weightage="20" keywordseo="Transport-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Transport Ministry" meta.hostid="261" meta.entityid="Transport Ministry">Transport Ministry</keyword> has developed a scheme and begun implementing it on a pilot basis in Chandigarh and Assam. This initiative aims to provide <keyword id="20322976" type="General" weightage="20" keywordseo="cashless-treatment" source="keywords">cashless treatment</keyword> to victims of road accidents. The minister explained that the scheme covers treatment for individuals involved in road accidents caused by motor vehicles, regardless of the type of road. The ministry is implementing this program in collaboration with the <keyword id="19904188" type="General" weightage="20" keywordseo="National-Health-Authority" source="keywords" meta.keywordsubtype="org" meta.entityname="National Health Authority" meta.hostid="261" meta.entityid="National Health Authority">National Health Authority</keyword> (NHA). "Under this scheme, the eligible victims are administered <keyword id="22628782" type="General" weightage="20" keywordseo="health-benefits-packages" source="keywords">Health Benefits Packages</keyword> relating to trauma and polytrauma care at empanelled hospitals under Ayushman Bharat Pradhan Mantri-Jan Arogya Yojana (AB PM-JAY), up to a maximum of Rs. 1.5 lakh for a maximum period of 7 days from the date of the accident," said the minister in a written reply in the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword>. The scheme is being administered under the aegis of the <keyword id="22628783" type="General" weightage="20" keywordseo="motor-vehicle-accident-fund" source="keywords">Motor Vehicle Accident Fund</keyword>, established under section 164B of the <keyword id="19916485" type="General" weightage="20" keywordseo="Motor-Vehicles-Act" source="keywords">Motor Vehicles Act</keyword>, 1988. The sources of income and the utilization of funds are detailed in the Central Motor Vehicles (<keyword id="22628783" type="General" weightage="20" keywordseo="motor-vehicle-accident-fund" source="keywords">Motor Vehicle Accident Fund</keyword>) Rules, 2022. The NHA, under the Ministry of Health &amp; Family Welfare, is responsible for the program's implementation in coordination with local police, empanelled hospitals, State Health Agencies, the National Informatics Centre, and the General Insurance Council. Minister Gadkari stated that, in accordance with the <keyword id="19916485" type="General" weightage="20" keywordseo="Motor-Vehicles-Act" source="keywords">Motor Vehicles Act</keyword>, of 1988, the pilot program for cashless treatment extends support to victims of road accidents caused by motor vehicles, regardless of where the accident occurs. The scheme will help in reducing deaths in road accidents and will help in providing better treatment to <keyword id="20292205" type="General" weightage="100" keywordseo="road-accident-victims" source="keywords">road accident victims</keyword>.

Road accident victims to get free cashless treatment: Nitin Gadkari

<ul><li>Utility vehicle sales increased 34% year-on-year to 1,81,825 units.</li><li>Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units a year ago.</li><li>Passenger car dispatches on the other hand declined 10% to 1,20,031 units a year ag .</li></ul> Passenger vehicle wholesales in India rose 9% year-on-year in August on the back of strong demand for utility models, industry body SIAM said on Monday. Overall passenger vehicle dispatches to dealers rose to 3,59,228 units last month from 3,28,376 units in August 2022. Utility vehicle sales increased 34% year-on-year to 1,81,825 units. Passenger car dispatches on the other hand declined 10% to 1,20,031 units from 1,33,477 units in August 2022. Van wholesales also dipped to 11,859 units from 12,236 units. "Last month saw the highest ever August month sales for passenger vehicles and three-wheelers," Society of Indian Automobile Manufacturers (SIAM) President <keyword id="230167" type="General" weightage="40" keywordseo="Vinod-Aggarwal" source="Orion">Vinod Aggarwal</keyword> said in a statement. Three-wheeler sales rose to 64,763 units in August as against 38,369 units in the same month last year. Two-wheeler dispatches increased to 15,66,594 units from 15,57,429 units. "<keyword id="163191" type="General" weightage="60" keywordseo="two-wheeler-sales" source="Orion">Two-wheeler sales</keyword> remained at levels similar to a year ago," Aggarwal said adding that the industry also witnessed a good growth in the commercial vehicle segment in August 2023. "Based on the performance of last month, we are even more optimistic for demand to pick up during the festive season, enabled by positive economic outlook and the revival of monsoon after a deficit in August," Aggarwal said. In the passenger vehicle segment, Maruti Suzuki India saw an increase of 16% in dispatches to dealers at 1,56,114 units from 1,34,166 units in August 2022. Rival Hyundai Motor India dispatched 53,830 units to dealers as against 49,510 units in the same month last year.

August auto sales: Powered by utility vehicles, PV dispatches to dealers increase 9%

<ul class="summary-list"><li>The Ukrainian military is crowdfunding to buy equipment to defend itself against Russia.</li><li>The equipment will be used to build fortifications and aid in evacuations.</li></ul>A front-line Ukrainian military unit is turning to crowdfunding for the construction tools to build defenses to blunt Russian advances and shield Ukraine's soldiers."We need your help to purchase an excavator to build fortifications," a Ukrainian soldier with the 26th Artillery Brigade said in a fundraising message <a target="_blank" href="https://twitter.com/Teoyaomiquu">posted</a> on X by Ukrainian combat veteran Constantine Kalinovskiy on Monday. "You can help save not one but many lives of our service members and bring us one step closer to victory," the message said.The fundraiser, which was started by the Liberty Ukraine Foundation, calls for $72,000 in donations for the purchase of a backhoe excavator to help build shelters and trenches. The donations would also go toward a vehicle that would be used for evacuations and utilities."The excavator is a very important tool to protect very expensive equipment an the lives of the soldiers," Kalinovskiy, an LUF fundraiser, wrote. "It's used to dig deep into the ground and save from incoming missiles and artillery."He added that donations for this expensive equipment would help defenders stand their ground as the "war enters a new phase."One excavator, Kalinovskiy shared, has already been delivered to the 59th Brigade, "and it's already digging the trenches and saving Ukrainian lives on the Avdiivka axis."Ukraine doesn't have the war materiel, ammo in particular, for offensive operations, but experts have <a target="_blank" href="https://www.businessinsider.com/ukraine-can-still-win-against-russias-invasion-war-experts-2024-2">said</a> that maintaining a strong defense could put Ukraine on track to achieve a victory."We cannot enable Ukraine to take back all its territory, but we can enable Ukraine to deny Putin further gains," Henry L. Stimson Center senior fellow Emma Ashford said during a Defense Priorities panel in February.Ashford has advocated for increasing static fortifications and digging in, among other defensive tactics, as Ukraine enters its third year of war against Russia.Rob Lee, an expert who has followed the war closely as well, <a target="_blank" href="https://twitter.com/RALee85/status/1764876210041938167">wrote</a> on X that "building better fortifications, including for artillery, is one of the most effective ways Ukrainian units can partially compensate for a lack of ammunition."The fundraiser for the 26th Artillery Brigade exceeded its goal, reaching $72,765 as of Tuesday morning, but the larger Ukrainian military is still waiting anxiously for further assistance, specifically an aid package for Ukraine that has been hung up in Congress by American politics since October.

Ukrainian troops are crowdfunding for the construction vehicles desperately needed for new defenses

New Delhi [India], February 26 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): Passenger vehicle volume is expected to ascend to a new peak for the third straight time next financial year, growing 5-7 per cent on a high base of 6-8 per cent estimated for the current year ending March 2024, according to <keyword id="19955699" type="General" weightage="20" keywordseo="crisil-ratings" source="keywords">Crisil Ratings</keyword>. This ascend is expected as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remain muted. Healthy volume growth of the SUV segment, which enjoys higher margin, will steer an improvement in operating margin to 11.5-12.5 per cent next financial year, the rating agency said on Monday. Better cash generation, along with strong balance sheet and robust liquidity will support funding of sizeable capital expenditure to set up additional capacity, keeping credit profiles of passenger vehicle makers stable, the agency said. A significant change in consumer preference has cranked up demand for SUVs leading to its market share doubling to 60 per cent of total domestic volume this fiscal from 28 per cent before the pandemic in fiscal 2019. This preference is expected to further grow backed by a healthy pipeline of new model launches across price points, including electric variants, and normalised availability of semiconductors after a prolonged period of short supply. "While the overall PV volume is seen rising 5-7 per cent next fiscal, we expect demand for SUVs to accelerate at twice the pace at over 12 per cent driven by array of feature-laden launches at competitive price points, varied technology options including hybrid and electric, and increased access to credit," said <keyword id="19898319" type="General" weightage="20" keywordseo="anuj-sethi" source="keywords">Anuj Sethi</keyword>, Senior Director, CRISIL Ratings. In contrast, demand for cars is seen slowing this fiscal too due to the ongoing weakness in the rural market and lower affordability at the entry level. The cost of vehicles has risen in the past 3-4 years as manufacturers have been passing on higher commodity prices and have had to comply with more stringent regulations on safety and emissions. The situation is similar on the exports front. The share of passenger exports is estimated to have slowed to 14 per cent this fiscal compared with 17 per cent in fiscal 2019, mainly due to inflationary headwinds and limited availability of foreign exchange in key export markets -- <keyword id="19968988" type="General" weightage="20" keywordseo="latin-america" source="keywords">Latin America</keyword>, south-east <keyword id="19915288" type="General" weightage="20" keywordseo="asia" source="keywords">Asia</keyword> and Africa -- in the past two years. "This trend is expected to continue next fiscal," Crisil Ratings said. But increasing share of SUVs with higher realisations, along with stable commodity prices and full benefit of price hikes executed last fiscal have resulted in operating margin expansion of manufacturers by 200 basis points (100 basis points is equal to 1 percentage point) to 11.0 per cent this fiscal. A further improvement in sales mix in favour of SUVs can take that number to 11.5-12.5 next fiscal, it said. (ANI)

SUVs to drive passenger vehicle volume 5-7% next financial year: Crisil

<ul class="summary-list"><li>Workers at GM, Ford, and Stellantis went on strike last week. </li><li>The work stoppage will exacerbate a structural advantage enjoyed by EV leader Tesla.</li></ul>When <a target="_blank" href="https://www.businessinsider.com/ford-gm-stellantis-uaw-workers-indefinite-strike-2023-9">auto workers went on strike</a> at GM, <a target="_blank" href="https://www.businessinsider.com/ford-electric-vehicle-inventory-problem-trying-to-beat-tesla-2023-7">Ford</a>, and Stellantis last week I immediately thought of this video.It's from a 2019 Bloomberg <a target="_blank" href="https://www.bloomberg.com/features/2019-bmw-electric-car-german-engines/?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_content=business">story</a> about Germany's car industry. But the technological changes shown here, and inexorable math at the heart of them, apply globally: The traditional internal combustion engine has more than 1,000 parts. New electric engines have about 50. That means fewer jobs because EVs are much simpler and therefore easier to assemble. With all the ink spilled about the rise of <a target="_blank" href="https://www.businessinsider.com/best-electric-car-reviews-ev-2023-8">electric vehicles</a> since 2019, I've been surprised by how few words have focused on what will be a radical and painful industry transformation. The <a target="_blank" href="https://www.businessinsider.com/category/auto-industry">auto industry</a> has been a powerful job generator for decades, forging huge cities with healthy and relatively stable paychecks for millions of workers and their families. As EVs take over, this will no longer be the case. Forget about <a target="_blank" href="https://www.businessinsider.com/how-to-create-ai-materials-resources-guide-2023-9">AI</a>. This is the job destruction that's guaranteed to happen soon. <h2>'Fewer employees'</h2>The Congressional Research Service, which provides analysis to US legislators, <a target="_blank" href="https://sgp.fas.org/crs/misc/IF11101.pdf">warned about this</a> a few years ago. Gas-powered vehicles have as many as 2,000 components in their powertrains, while Tesla has said its drivetrain has 17 moving parts, including just 2 in the motor, it noted. "Electric vehicle powertrains, if built domestically and not imported, would generate production employment, but fewer employees may be needed than at present because vehicle battery packs have relatively few components and are less complicated to assemble than internal combustion engine powertrains," the Congressional Research Service wrote. "Electric vehicles utilize a large number of electronic sensors, but these devices require little labor to produce and assemble."Labor is one of the main expenses that companies try to flex when competing against each other. If one business has an approach that gives it a clear cost advantage, everyone else will quickly try to adopt a similar strategy. Tesla had a decade headstart, in terms of EV manufacturing, but other automakers are now racing to catch up. There may be some environmental benefits to EVs, but a bigger driver of this is that they are just <a target="_blank" href="https://www.businessinsider.com/ev-electric-car-auto-industry-jobs-layoffs-employment-ford-2022-8#:~:text=Both%20Ford%20and%20Volkswagen%20have,than%20an%20engine%20and%20transmission.">way more efficient to manufacture</a>. <h2>About 40% less labor</h2>Auto executives don't like talking about this much, because it basically means jobs will be lost and that's hard to bring up. But some of the industry's top leaders have discussed it occasionally.In late 2022, Ford CEO Jim Farley <a target="_blank" href="https://www.ft.com/content/8df00b42-4e3f-4a45-b665-2726720105e0">told</a> the Financial Times that manufacturing EVs requires about 40% less labor than making the same number of internal combustion vehicles. VW's CEO in 2019 estimated that building EVs involves about 30% less effort than making gas-powered cars. <div type="image" title="Employees work on an engine production line at a Ford factory on January 13, 2015 in Dagenham, England." height="2000" width="3000" msid="103735591" hostid="261" sizebytes="600864"></div>The UAW strike could cost America's 3 main traditional automakers <a target="_blank" href="https://www.cnbc.com/2023/08/17/uaw-strike-cost-aeg-analysis.html">as much as $5 billion within just 10 days.</a> This will exacerbate the structural disadvantage they already face. <h2>Elon Musk has already won</h2>Whatever the outcome of the strike, <a target="_blank" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> has already won, Tim Higgins, one of the top auto industry reporters, <a target="_blank" href="https://www.wsj.com/business/autos/uaw-strike-tesla-labor-costs-baf8b897?mod=hp_lead_pos1">wrote this weekend in The Wall Street Journal</a>. Higgins wrote a book about Tesla, called <a target="_blank" href="https://www.businessinsider.com/guides/learning/elon-musk-book-review-power-play">Power Play</a>, that expertly explains how the company developed a more efficient vehicle manufacturing process.As a pure EV maker, <a target="_blank" href="https://www.businessinsider.com/tesla-owners-best-worst-things-ev-model-3-elon-musk-2023-7">Tesla</a> doesn't have to deal with internal combustion engines, gas lines, exhaust pipes and other complex designs that cost more to assemble. <a target="_blank" href="https://www.businessinsider.com/uaw-strike-history-what-happened-during-2019-gm-union-stoppage-2023-9">GM</a>, Ford, and Stellantis have begun making more EVs, but those operations are still relatively small and that lack of scale means they mostly lose money selling those new vehicles. The rest of their operations still focus on gas-powered cars and trucks.Tesla's workers are not unionized, so the company will keep churning out Model 3s, Model Ss, Model Ys, and soon the new <a target="_blank" href="https://www.businessinsider.com/tesla-cybertruck-photos-ignite-buzz-show-interior-exterior-features-2023-8">Cybertruck</a>, while some factories of its main US rivals sit idle. <div type="image" title="Tesla Giga Shanghai" height="1184" width="2414" msid="103735594" hostid="261" sizebytes="264048"></div><h2>The Giga Press</h2>And Tesla is not resting on its laurels. Instead, the company is trying to extend its manufacturing advantage. It recently introduced Gigacasting technology to <a target="_blank" href="https://www.businessinsider.com/tesla-gigafactory">its auto plants</a>. The Tesla Giga Press is a giant machine that uses aluminum die casting to make much larger vehicle parts. Again, the goal here is to reduce the number of car parts to make the manufacturing process simpler and more efficient. And yes, that probably means even fewer jobs. Toyota, GM, Hyundai and China's Geely are beginning to use this technology, too, or are planning to do so, <a target="_blank" href="https://www.reuters.com/technology/why-are-other-automakers-chasing-teslas-gigacasting-2023-06-14/">according to Reuters</a>.

The UAW strike and the inexorable math of electric vehicles

<keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India is looking to bring in more flexibility in its production processes in order to produce <keyword id="36810" type="General" weightage="20" keywordseo="vehicles" source="Orion">vehicles</keyword> as per the evolving market scenario, according to a senior company official. The country's largest carmaker is looking to strengthen the production of high selling utility vehicles while curtailing the roll out of the entry level cars. "Diverging <keyword id="6358993" type="General" weightage="20" keywordseo="demand" source="Orion">demand</keyword> patterns between utility vehicles and the small car segment is continuing. The company is working on increasing the flexibility in operations to produce vehicles as per the evolving market demand," Maruti Suzuki India Executive Officer Corporate Affairs Rahul Bharti said in an analyst call. He noted that the automaker has discovered that one of the reasons for the recent dip in the margins is because it was producing "some slow-moving cars". "And we did not have sufficient production <keyword id="6390515" type="General" weightage="20" keywordseo="capacity" source="Orion">capacity</keyword> for the cars that had demand. If we had the flexibility of both, whether it is semiconductor supplies or in-house production, we would probably have less of such a problem," Bharti said. Hence, it's a conscious move to increase the flexibility of production operations, he added. MSI currently has an installed production capacity of around 23 lakh units per annum spread across its plants in Haryana and Gujarat. Bharti said the initiative "comes at a small cost" as it involves a slightly suboptimal format of production. Elaborating on the drop in <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> of the entry level cars, he noted that the cost of acquisition has gone up disproportionately because of the increased regulatory intensity in the past few years. "And the income of the customer in this segment has not taken off. We are hoping that sooner or later, the income growth will catch up, and the small car segment will revive," he added. Bharti noted that the company has also seen reduction in first-time buyers. "...almost a 10 per cent reduction in the percentage of first-time buyers from the market for us. So, it's closely correlated. We are hoping that when the income growth in this segment of the population catches up with the increased cost, and the regulatory intensity does not move up further in the next few years, at some point in time, this segment should come back," he stated. According to the recent SIAM data, entry level car wholesales in India have dropped to 35,000 units in the second quarter this fiscal as compared to the peak of 1.38 lakh cars in July-September 2018-19. Replying to a query regarding overseas shipments, Bharti said that going ahead the company plans a three-fold rise in its exports volume by increasing its exports to 7.5 lakh to 8 lakh units a year by 2030-31. MSI continues to be the largest exporter of cars from India. "Our focus continues to be on Africa, Latin America, Southeast Asia and even the Middle East. Barring the US and China, we will be almost everywhere," Bharti said.

Maruti looking to enhance flexibility in production to roll out vehicles as per market demand

<ul class="summary-list"><li>Electric cars are helping push electricity rates down in the US, according to a new study. </li><li>They bring lots of revenue to utility companies, but don't cost much to provide energy to. </li></ul>Owners of electric vehicles aren't just cutting their own carbon footprints — they're also helping lower utility bills for everyone else, according to a <a href="https://www.nrdc.org/sites/default/files/media-uploads/evs_are_driving_rates_down_dec_2022_update_0.pdf">recent study</a> funded by the Natural Resources Defense Council. Researchers at Synapse Energy Economics zeroed in on three California utilities that serve lots of households with electric cars (more than 735,000 at the end of 2021). They compared the costs of providing energy to those EVs with the revenue customers generated and found that from 2012 to 2021, EV owners netted utilities $1.7 billion in pure profit. <div type="image" title="Chart of electric vehicle charging costs vs revenue." height="740" width="1278" msid="96151678" hostid="261" sizebytes="24654"></div>So utilities and their shareholders are getting rich off of Tesla drivers? Not quite: Since utilities are highly regulated and revenue-capped, they need to return excess profits to their customers in the form of lower rates. (In California and some other states, this is done through a mechanism called "revenue decoupling.")The key here is that although EV customers use <a href="https://www.businessinsider.com/electric-charging-stations-power-grid-energy-small-town-2022-11">significantly more electricity</a> than others, they're relatively cheap for utilities to serve when considering the costs of energy generation, transmission, and distribution. A big part of it is that drivers tend to charge their cars during off-peak hours — like overnight — when there's lots of spare grid capacity and utilities can provide electricity cheaply. "Because electric vehicles don't add a lot of additional capacity costs, because they're primarily charging off-peak, what they're doing is they're more efficiently using the electric grid infrastructure," Melissa Whited, one of the study's authors, told Insider. In an alternate reality where EV owners consumed most of their electricity during times of peak demand, they'd necessitate costly investments in power transmission and the use of expensive-to-run <a href="https://www.popsci.com/environment/peaker-plants-101/">"peaker" power plants</a>. But in our reality, the opposite is true. To arrive at the $1.7 billion figure, researchers assumed that EV owners were billed a higher rate than other customers, in accordance with California's tiered-rate system that hikes prices for bigger energy consumers. The results could be different in other regions, Whited said. Other studies have reached similar conclusions. A 2021 report from MJ Bradley &amp; Associates, a consulting firm focused on environmental issues, found that more EVs charging in Nevada could <a href="https://www.mjbradley.com/sites/default/files/NV_PEV_CB_Analysis_FINAL_0.pdf">drop each household's yearly utility bill by $123 by 2050</a>.

Electric cars make utility bills cheaper for everyone, new research finds

New Delhi, Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from <keyword id="44883" type="General" weightage="20" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> on the back of festive demand and the continued strong offtake of SUVs. <keyword id="108829" type="General" weightage="20" keywordseo="hyundai-motor-india" source="Orion">Hyundai Motor India</keyword>, <keyword id="6357096" type="General" weightage="20" keywordseo="mahindra-mahindra" source="Orion">Mahindra &amp; Mahindra</keyword> and <keyword id="118748" type="General" weightage="20" keywordseo="toyota-kirloskar-motor" source="Orion">Toyota Kirloskar Motor</keyword> also reported strong dispatches to dealers last month. Tata Motors, however, saw a dip in domestic passenger vehicle sales in August. "The month of August was a very good month for the industry. Passenger vehicle sales in August stood at 3,60,897 units. This is the highest ever monthly sales in any month in any year in the industry," Maruti Suzuki India (MSI) Senior Executive Officer (Marketing &amp; Sales) Shashank Srivastava said. The previous highest for the industry was 3,55,400 units reported in September 2022, he added. The industry wholesales last month grew by 9.7 per cent to 3,60,897 units as compared with 3,26,980 units in August 2022, Srivastava said. In the April-August period, the industry sales crossed the 17 lakh units mark which is a growth of 8 per cent over the same period of the previous fiscal, he added. Srivastava noted that the SUV segment continued to perform well and accounted for 48.6 per cent of the overall passenger vehicle industry in August. The SUV contribution to the domestic passenger vehicle industry stood at 43 per cent in FY23. The festive season which started with Onam in Kerala has led to a very positive retail growth of 25 per cent in Kerala, Srivastava said. MSI reported its highest-ever monthly wholesales at 1,89,082 units in August on the back of robust sales in the SUV segment. The country's largest carmaker became the leading player in the domestic SUV segment in the April-August period on the back of models like <keyword id="-332" type="General" weightage="80" keywordseo="grand-vitara" source="Orion">Grand Vitara</keyword>, Brezza and Jimny. The auto major's overall dispatches to dealers last month were 14 per cent higher as compared to 1,65,173 units in August 2022. The company previously reported its record monthly sales of 1,82,448 units in October 2020. Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 per cent. Utility vehicles, consisting of Brezza, Grand Vitara, Jimny, Ertiga and XL6, clocked sales of 58,746 units last month, over two-fold increase as compared to 26,932 units in August last year. Srivastava said the company has become the leading player in the SUV segment in the April-August period this fiscal by overtaking Mahindra &amp; Mahindra. "In August we have become number one in the SUV segment on a cumulative basis that is from April-August," he noted. The company's SUV sales in August stood at 41,658 units while Mahindra &amp; Mahindra sales stood at 37,233 units in the segment, Srivastava noted. He noted that the company's wholesale market share has gone up to 43.5 per cent in August as compared with 40.8 per cent in August 2022. The company's scrip raced to a fresh lifetime high before settling more than 3 per cent up on the back of August sales data. The stock of the company opened at Rs 10,000 apiece on the BSE, then gained further ground to touch a fresh 52-week high of Rs 10,390 apiece on the BSE and Rs 10,397.95 each on the NSE. The stock closed 3.24 per cent up at Rs 10,331.80 on BSE while on NSE, it gained 3.16 per cent to end at Rs 10,320.10 apiece. Hyundai Motor India said its domestic wholesales rose by 9 per cent to 53,830 units last month, from 49,510 units in the year-ago period. The festival season in the country has kicked off on a positive note with strong Onam sales in the Kerala market and this is an indication of the festive fervour in other parts of the country in the coming months, Hyundai Motor India COO Tarun Garg noted. Mahindra &amp; Mahindra said its passenger vehicle sales in the domestic market rose by 25 per cent to 37,270 units last month as against 29,852 units in August last year. "We clocked our highest-ever SUV domestic sales of 37,270 (units) in a month with a growth of 26 per cent...While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semiconductors and select parts, for sustained and smooth scale up," M&amp;M President Automotive Division Veejay Nakra said. Toyota Kirloskar Motor reported its best-ever monthly sales at 22,910 units in August. The company's total dispatches to dealers increased by 53 per cent last month to 22,910 units as compared with 14,959 units in August 2022. The company said it sold 20,970 units in the domestic market last month. Tata Motors said its passenger vehicle sales, including electric vehicles, in the domestic market declined by 3.5 per cent at 45,513 units last month as against 47,166 units in August 2022. MG Motor India reported a 9 per cent year-on-year increase in retail sales at 4,185 units in August. The automaker had sold 3,823 units in August 2022. In the two-wheeler space, Bajaj Auto said its total vehicle sales, including sale of commercial vehicles, declined 15 per cent to 3,41,648 units in August. The company had reported total sales of 4,01,595 vehicles in August last year. TVS Motor Company reported a 4 per cent growth in total sales at 3,45,848 units in August 2023 as compared to 3,33,787 units in the same month last year. Mid-sized motorcycle maker Royal Enfield said its total sales increased by 11 per cent at 77,583 units in August 2023. The company had sold 70,112 units in the same month last year, Royal Enfield said in a statement. Domestic sales were at 69,393 units as against 62,892 units in the year-ago month, a growth of 10 per cent.

Festive demand, strong SUV offtake propel domestic passenger vehicle sales to record high in August

This new electric van can be used as anything from a camper van to a delivery vehicle and cover 400 miles before recharging

Domestic passenger vehicles wholesales posted a record in May at 3,34,247 units growing at 13.54 per cent as compared to the same month last year, riding on robust growth of utility vehicle sales, the <keyword id="82374" type="General" weightage="80" keywordseo="society-of-indian-automobile-manufacturers" source="Orion">Society of Indian Automobile Manufacturers</keyword> said on Tuesday. As per the latest data issued by <keyword id="1577311" type="General" weightage="80" keywordseo="society-of-indian-automobile" source="Orion">Society of Indian Automobile</keyword> Manufacturers (SIAM) dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022. SIAM Director General <keyword id="217489" type="General" weightage="80" keywordseo="rajesh-menon" source="Orion">Rajesh Menon</keyword> said sales of passenger vehicles in May 2023 have been the highest ever witnessed for the month of May. Utility vehicle wholesales, excluding that of <keyword id="42747" type="General" weightage="80" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> which shares its numbers quarterly, grew by 33.5 per cent last month at 1,55,184 units, as compared to 1,16,255 units in the year-ago period. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent. Motorcycles sales grew by 20.63 per cent at 9,89,120 units last month, as compared to 8,19,940 units in May 2022, SIAM said. Scooter sales also rose 12.18 per cent at 4,46,593 units, as against 3,98,099 units in the year-ago month. Similarly, three-wheeler wholesales were higher at 48,732 units, as compared to 28,595 units in May 2022. Total vehicle dispatches across categories, excluding Tata Motors, were at 18,08,686 units as compared to 15,32,861 units in May 2022, SIAM said. "All the segments viz. passenger vehicles, two-wheelers and three-wheelers have posted growth in double-digits in May 2023, compared to May 2022. We anticipate this trend to continue supported by the prevalent economic environment," SIAM President <keyword id="230167" type="General" weightage="80" keywordseo="vinod-aggarwal" source="Orion">Vinod Aggarwal</keyword> SIAM said. Menon said while two-wheelers also posted a growth of 17.4 per cent in May 2023 compared to last year, the sales were "still lower than 2016-17 levels". He further said, "Domestic sales of three-wheelers in May 2023 grew by 70.4 per cent compared to May 2022, although on a low base, but still lower than the 2018-19 levels." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-aircraft-suffers-tail-strike-on-arrival-at-delhi-airport/articleshow/100959637.cms">IndiGo aircraft suffers tail strike on arrival at Delhi airport</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/urja-global-mistaken-identity-with-musks-tesla-not-the-only-problem/articleshow/100958807.cms">Mistaken identity with Musk’s Tesla is not the only problem for this penny stock</a>

You Searched For "utility vehicles" and got 13 results

Domestic passenger vehicle wholesales dips 2.5% at 3,41,510 units in July: SIAM

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August auto sales: Powered by utility vehicles, PV dispatches to dealers increase 9%

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The UAW strike and the inexorable math of electric vehicles

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Maruti looking to enhance flexibility in production to roll out vehicles as per market demand

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Electric cars make utility bills cheaper for everyone, new research finds

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Festive demand, strong SUV offtake propel domestic passenger vehicle sales to record high in August

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This new electric van can be used as anything from a camper van to a delivery vehicle and cover 400 miles before recharging

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Passenger vehicle wholesales hit record in May at 3,34,247 units: SIAM

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