The verdict on the scrappage policy is a split one! Divided between an opportunity on one end of the spectrum and a threat of negatively impacting the pre-owned vehicle segment. Warranting a voluntary scrappage, restricting the life cycle of a vehicle to 15-years, the latter segment, has some stakeholders concerned about the business running into third and fourth owner hands being impacted. Here, financier and service provider of pre-owned vehicles, focussed on two-wheelers up to 500 cc, Bike Bazar, has sensed an opportunity. Averred Srinivas Kantheti, Cofounder at Bike Bazaar and Ex-President, Bajaj Auto - Two-wheelers, Domestic Sales, “I don't think it impacts us negatively at all. We do not look at vehicles beyond eight or nine years. We are focussed on the scrappage value which will be credited to the customer.” “We expect the customer to invest in a new vehicle and especially when there is a demand for electric two-wheelers. The scrappage policy can prove to be a useful push for our business,” he opined. Admitting to it being early days to gauge the impact of the rollout in-depth, Kantheti drew attention to the pilot commencing in select pockets ahead of a national rollout.
The marketplace dynamics
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RENESAS UNVEILS MULTI-DOMAIN SOC.
Renesas Unveils 5th-Generation Multi-Domain SoC for ADAS, Infotainment and Gateway Systems
BORGWARNER SECURES NEW HVCH PROGRAMS
BorgWarner has secured three significant business wins for its High Voltage Coolant Heater (HVCH) technology, expanding its reach in the Chinese, Korean and Japanese electric vehicle markets.
RESHAPING REALITY
Abhiyantriki, the 26th annual technical fest of K J Somaiya School of Engineering at Somaiya Vidyavihar University, took place at its Mumbai campus under the theme ‘Reshaping Reality’, focusing on futuristic innovations and real-world problemsolving.
CONTINENTAL TIRES INDIA CELEBRATES CONTINUED PREFERRED PARTNER STATUS
Continental Tires India reaffirms its dedication to customer-centric solutions and operational excellence through its sustained partnership with Mercedes-Benz AG.
ACMA IAUTOCONNECT 2024
The Automotive Component Manufacturers Association of India (ACMA), hosted the ninth edition of its premier buyer-seller event, iAutoConnect, at Yashobhoomi in New Delhi.
4TH ACMA AUTOMOTIVE RAW MATERIALS CONCLAVE
The 4th Automotive Raw Materials Conclave focused on automotive innovations and sustainability in nonferrous materials, writes Richa Tyagi.
MOBILITY PLAYSETS
Even as the Indian automobile industry touches new heights and innovations, it is the commercial mobility play sets that continue to be a major draw. It is a good starting point for the next generation, writes Prajakta Chavan Rane from her plant sojourn.
SUSTAINABILITY AS STRATEGY
In an Industry Talk session, Satyakam Arya Managing Director and CEO, Daimler India Commercial Vehicles spoke to Ashish Bhatia on integrating sustainability into the overall business strategy.
EMBRACING SHOPFLOOR AUTOMATION
In manufacturing, where precision, efficiency, and cost-effectiveness are paramount, Mahindra Mahindra has embraced shopfloor automation as a cornerstone of its strategy
FREUDENBERG EXPANDS MANUFACTURING FOOTPRINT
Freudenberg opens two state-of-the-art manufacturing plants in Morinda, marking its largest investment in expanding the manufacturing footprint in India, writes Richa Tyagi.