Why India Wants Hybrids, Not EVs
Hybrids beat EVs in sales as buyers take a fancy to mixed powertrains to get the best of both worlds.
Hybrids beat EVs in sales as buyers take a fancy to mixed powertrains to get the best of both worlds.
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.
JM Financial and Prabhudas Lilladher have retained ‘Buy’ call on Maruti Suzuki, with upgraded price targets of ₹11,750 and ₹12,485, respectively.
Bhargava acknowledged that Maruti Suzuki is trailing behind its peers in the electric vehicle segment.
The total passenger vehicle domestic sales surged 9.4% to 9,95,974 units in Q1 of FY24 as against 9,10,495 units sold in the same period last year.
Maruti's overall sales surge 6.5%, Tata Motor’s overall sales dip 3.9%; Hyundai and Kia report 3.5% and 22% YoY growth, respectively
MSIL chairman RC Bhargava says that a three-row, strong hybrid vehicle will be sourced from Toyota Kirloskar Motor (TKM).
According to market analysts, Maruti Suzuki Q4FY23 numbers were strong on all fronts, while margin expanded on operating leverage benefits and product mix.
Revenue of auto OEMs is expected to grow at 19% YoY in Q4FY23, while it is projected to register a growth of 8% QoQ, according to Axis Securities.
All categories were in green in January 2023, with 2-wheeler, 3-wheeler, passenger vehicle, tractor and commercial vehicles growing by 10%, 59%, 22%, 8% and 16%, respectively, FADA data shows.