Hyundai working to resolve export challenges due to Red Sea crisis: Tarun Garg
The company's exports in January declined by 13.7% YoY to 10,500 units, whereas February exports plummeted by 5% to 10,300 units, according to SIAM data.
The company's exports in January declined by 13.7% YoY to 10,500 units, whereas February exports plummeted by 5% to 10,300 units, according to SIAM data.
Maruti Suzuki, the country's largest automobile manufacturer sold 1,60,271 units in the domestic market, witnessing a growth of 8.6% YoY.
The company has attributed the price hike to offset the residual impact of the past input costs.
Vikram Pawah, however, opines that for the electric vehicle adoption to get a boost, India would require more charging networks.
The maker of Kodiaq and Kushaq also plans to hit an annual sales target of 1,00,000 cars in India by 2026.
The domestic wholesales of two-wheeler manufacturers including electric vehicles grew by 26.2% YoY to 14,95,183 units against 11,84,376 units in the same period last year.
According to the country's largest electric vehicle manufacturer, the step has been taken to make EVs more accessible to customers.
However, long-term fundamentals remain positive, with expectations of a post-election rebound as underlying industries resume tender processes.
Non-clarity on definition and complex tax slabs mean it's up to companies to decide how to classify their vehicles in what has become a 'free for all' market.
The automotive and electric vehicle industry anticipates certain measures that could not only propel localisation but would accelerate the country’s EV transition.