SHIFTING GEARS
Businessworld|April 23, 2022
The demand for sub-10 lakh rupees passenger cars is picking up fast as life returns to normal post-Covid. But there are many inherent challenges facing the automotive manufacturers
Ashish Sinha
SHIFTING GEARS

THE LAST FIVE years have been a one hell of a bumpy ride for India's domestic automotive sector, completely devoid of any charm and cheer. Passenger vehicle sales over the years have largely been a tale of setbacks for the carmakers. The outbreak of the corona virus only added to the misery in the last two years. But now, there is a faint but positive hope, especially for the four-wheeler makers. For the financial year ended 31 March 2022, the auto industry notched up sales of nearly 3 million passenger cars, which was more than 13 per cent higher compared to 202021. Back then, 2.71 million units were sold. In actual terms, the passenger car market in India is back to the level of 2016-17.

It's not just the overall numbers that are giving positive vibes to the domestic carmakers. There are some other bright spots as well. For instance, Maruti Suzuki, India's largest carmaker sold 1.36 million passenger vehicles during FY22, or 3 per cent higher than last fiscal. The silver lining here is that Maruti exported 2.38 lakh units in FY22 -- the highest so far in any financial year. The newly appointed managing director and chief executive officer for Maruti Suzuki India (MSIL), Hisashi Takeuchi said: “These export numbers are a reflection of India's manufacturing potential and the acceptance of India manufactured vehicles all over the world.” And he is right.

Bu hikaye Businessworld dergisinin April 23, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Businessworld dergisinin April 23, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESSWORLD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 dak  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 dak  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 dak  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 dak  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 dak  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 dak  |
October 19, 2024