Shashank Srivastava predicts 11% industry sales growth with March expected to reach 42,35,000, an 8.8% increase over last year's INR 38.9 lakh. Plans include expanding hybrid portfolio to meet emission norms by 2030. The segment-wise sales have been increasing for our SUVs and the larger MPVs. That is also, by the way, the direction which the market has in a broader sense has taken.
“Consumers' preference for feature-rich, safe, and premium vehicles across segments, coupled with significant growth in driver/rider assistance and connected technology adoption will pave the way for enhanced safety and convenience in passenger vehicles and continued electric vehicle penetration despite potential subsidy adjustments. Committed to this vision, Bosch is actively exploring solutions in alternative fuels like hydrogen engines, advanced driver-assistance systems for autonomous driving, and connected car technology, aiming to create a future of sustainable, safe, and exciting mobility experiences,” Guruprasad Mudlapur, President of the Bosch Group in India, and Managing Director, Bosch Limited, told ETAuto in an interview.
Okray's hiring follows the appointments of former GM executives Stephen Girsky as CEO in August and Mary Chan as chief operating officer in September.
The Indian auto industry is set to invest up to USD 7 billion by FY28 to deepen localisation of advanced components, including electric motors and automatic transmissions, to reduce imports and capitalize on multinationals' 'China Plus One' sourcing strategy. The Automotive Component Manufacturers Association (ACMA) reports that automakers and suppliers are likely to make this investment between FY24 and FY28.
"A committee has been constituted to examine demands from stakeholders to include more (automotive) components in the scope of the PLI scheme as technology keeps evolving. It will be chaired by an Additional Secretary in the Ministry of Heavy Industries and have 11 members including those from testing agencies like ARAI and the auto industry," the heavy industries minister told PTI.
In this GlobalAutoIndustry.com Audio Interview "2024 Global Automotive Study: EV Adoption Slows as Consumer Concerns Rise" Ron Hesse speaks with Ryan Robinson. Ryan is the research leader supporting the global Automotive sector for Deloitte's Consumer Industry Center at Deloitte. His primary focus is creating engaging, actionable insights to deepen the conversation around key trends and issues occurring across the global automotive sector landscape. For the past two decades, Ryan has supported companies throughout the automotive value chain, from manufacturers and parts suppliers to private equity firms and after-market service providers. He has been a frequent speaker at industry conferences and has been quoted as a subject-matter expert in major media outlets around the world.
The vehicle wash industry is highly unorganised and unsustainable owing to the processes involved. Blueverse, a 2-year old startup currently operational in 3 cities in India, is aiming to bring a change in this direction by equipping dealerships with a fully automated vehicle washing system following green design and engineering benchmarks, technology and life cycle costs.
"The auto industry growth is largely dependent on the growth in the overall economy, the GDP per capita growth that's projected 6-6.5 %. There's a very high correlation between the two... so that is a positive side," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava told PTI.
Commerce and industry minister Piyush Goyal has urged the automobile industry to increase its export share to 50% of all passenger vehicles produced in India by 2030. The move is based on the country's labor arbitrage and skilled manpower pool. The Bharat Mobility Global Expo 2024, India's first global mobility expo, will feature over 600 exhibitors from over 50 countries, showcasing cutting-edge technologies and breakthroughs in mobility.
Data from Swedish auto industry association Mobility Sweden showed 1,789 new Tesla cars were registered in December, up from 1,645 in the same month of 2022. The U.S. company's market share grew to 6.1% from 4.6%.
In the evolving energy mix for the auto industry, LNG is the newest option trying to gain a fair share of the pie. 2024 could see some more action involving LNG. In this exclusive interview, Rajendra Petkar, President and CTO, Tata Motors, talks about the benefits and hurdles pertaining to LNG adoption, how LNG adoption can be facilitated better, and what the industry’s energy mix could be in the foreseeable future.
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