Rs.6,000 crore likely to be saved by Delhi’s draft electric vehicle policy in fuel imports
According to a report prepared by Delhi’s Dialogue and Development Commission (DDC) and the Rocky Mountain Institute, the city will require approximately 5,00,000 new electric vehicles (EVs) in the next 5 years. The move, which is a part of the draft electric vehicle policy of Delhi, is said to save Rs.6,000 crore in oil and liquid natural gas imports and 4.8 million tonnes of carbon-dioxide emissions. The report has been submitted to the Transport Minister of Delhi Kailash Gehlot and identifies environmental and economic benefits of the electric mobility future of Delhi. To fulfil the draft policy target of 25% in new registrations of green vehicles by 2024, around 5,00,000 EVs need to be registered in 5 years, as revealed in the report titled ‘Accelerating Delhi's Mobility Transition: Insights from the Delhi Urban Mobility Lab’. These EVs are predicted to help save Rs.6,000 crore in fuel imports and 4.8 million tonnes of CO2 emissions over their lifetime which is equivalent to CO2 emissions from 1,00,000 petrol vehicles over their lifetime. These EVs will also aid in avoiding around 159 tonnes of PM2.5 (fine particulate matter) tailpipe emissions, a known cause for respiratory diseases and premature deaths.
Easy loan schemes for electric vehicles in India
The Government of India will promote electric vehicles (EVs) more vigorously by simplifying the loan process to buy these vehicles. The aim is to ensure that electric vehicles reach a wider demographic in India. The Financial Services Department of India has been directed by the Prime Minister’s Office (PMO) to take the necessary steps in this regard. The Revenue Department has been directed to release enhanced tax initiatives and faster depreciation for electric vehicles. This will help to reduce the down payment on electric vehicles. It will also bring down the upfront cost of electric vehicles and encourage corporates to invest in electric vehicles rather than conventional vehicles. The easier loan schemes aim to increase the sales of electric autorickshaws and electric three-wheelers. The government also intends to promote cleaner alternative fuel sources such as CNG and LPG for both commercial and domestic vehicles. The Ministry of Petroleum and Natural Gas has been directed to establish more LNG/LPG/CNG stations across India. Additional electric vehicle charging stations as well as CNG outlets are already in the pipeline. Reports state that the best way to increase electrification is by converting three-wheelers with existing IC engines into electric engines.
In the year 2018, Maruti Suzuki had offered heavy discounts with the aim of boosting sales. In the current financial year, third quarter, the discounts reached a record high. The company reconsidered its discount strategy after there was a dip in the year-on-year profits in the double-digits for the quarter that ended on 31 December 2018. The current management sees discounts as a less than optimal way to increase sales as customers would start expecting discounts round the year. The average discount offered per vehicle in the third quarter, which was a record, was Rs.24,300. This was done to clear the inventory after a particularly dull season. The average for the period of April-December was Rs.19,400 whereas in the second quarter the discount was Rs.18,800. The company cited several reasons for this slump in sales in the quarterly numbers. Some of these factors are adverse foreign exchange rates, higher cost of capacities and resources, higher expenditure in sales and marketing, and adverse commodity prices. The quarterly numbers in March could be better with the reduction in discounts combined with the hike in prices.
The new Creta has been spotted testing in Beijing
Hyundai is currently working on the next generation models of some of the bestselling cars of the company. This includes the Creta, i10, and i20. The new generation Hyundai Grand i10 has been spotted testing multiple times in different parts of India and abroad. The company has now started testing the new generation Creta. The first spy images of the testing of the new generation Creta has been spotted in Beijing, where it goes by the name ix25. The design used in the new generation Creta draws similarities to the design philosophy used in the Kona SUV. Creta has maintained its status as one of the best-selling cars in the Indian market. Hyundai will look to maintain its position with the new Creta, with a number of competitors launching new vehicles in this segment. The next-generation Creta is expected to launch in India sometime in the second half of 2020. The new Hyundai Creta will mostly be coming with 2 seat layout options, a 5-seater and a 7-seater option. All the new models launched by Hyundai are expected to be equipped with the new BSVI compliant diesel and petrol engines.
Maruti Suzuki confirmed the launch of two brand new models in FY 2019-20
Maruti Suzuki India Limited (MSIL) has confirmed that they are planning to launch two brand new cars in the Indian market by in the financial year 2019-20. The Chairman of MSIL, RC Bhargava, recently said that the company is aiming to pave their way in to the segments where they have not competed yet.
The automakers have introduced the new-gen Swift hatchback at the 2018 Auto Expo. The Ciaz got a facelift soon after that. 2018 also witnessed the launch of the Ertiga MPV. Maruti Suzuki is also set to launch the new-gen Wagon R on 23 January 2019. Reportedly, Maruti Suzuki has been concentrating on updating its cars with better and stringent safety standards. One of the 2 new launches will be sold through the Nexa dealerships, while the other one will be sold through the regular Arena dealerships.
Upcoming Jaguar F-Type Expected to be a Fully Electric 2+2
In line with rumours Jaguar might become a fully-electric brand, the upcoming next generation F-type model is expected to be on the receiving end of an electronic drivetrain. This, however, may not happen at the car’s launch event. It may take place sometime after the launch of the vehicle,
According to recent reports, the F-type is going to undergo a redesign and will therefore be debuted in the year 2021. It is also said that even though the car might not have an electric powertrain, it could become a part of the very same vehicle a few weeks later on. Additionally, it is also expected that in order to retain the vehicle’s sporty outlook and mechanism, the relatively heavier steel parts will henceforth be replaced with lighter aluminium auto parts. Jaguar has additionally reported that to render the body of the vehicle bigger and to accompany a proper 2+2 design, it will make some more modifications.
Production of Alto 800 to be stopped by Maruti Suzuki
The production of the Alto 800 may be stopped in the second half of 2019. This is because the Maruti Alto 800 may not be ready to meet the standards of the BS-VI and crash test norms in time. By January 2020, Maruti plans to launch models that are BS-VI compliant. The BS-VI norms are to come into effect by April 2020. According to this, cars which are in the A-segment 800-cc engine capacity range shall not exceed a length of 3.6 metres. Also, all car models are to be fitted with the catalyst reduction exhaust treatment system, which is a challenge to fit inside cars of this particular size.
Mercedes Benz Available at 50% Off, Major Discounts on Toyota, Audi, BMW Luxury Cars
Almost all working class heroes in India dream of owning luxury cars, but the cost associated with these vehicles make it hard for people to turn their dreams into reality. If you wish to purchase a luxury car for yourself, you can consider purchasing a used car. Droom.in, one of the biggest vehicle-commerce portal in India, has listed out record low prices for used cars. Vehicles such as Mercedes-Benz, Toyota, and BMW are now way more affordable than they have ever been. Finance assistance is also offered by Droom.in for nominal rates. The BMW 5 Series 520d 2011 is available on the portal for just Rs.16 lakh. The last recorded price of this vehicle (ex-showroom, New Delhi), was Rs.42.1 lakh. The Mercedes-Benz GLC 220d 2016 is available for less than Rs.39 lakh, and the ex-showroom price of this vehicle is almost Rs.51 lakh. The Toyota Innova Crysta 2.4 G7 STR 2018 is available for Rs.15 lakh. The Audi A8 L4.2 FSI Quattro 2012 can be purchased for Rs.50 lakh, and the showroom cost of the vehicle is Rs.1.12 crore.
Pre-Owned Car Industry Witnessed 50% Growth at Year-on-Year Basis
According to several top players in the pre-owned car segment such as OLX, Truebil, and Mahindra First Choice Wheels, the sector has witnessed a spike in growth by 40% to 50% in 2019. This growth was observed after the launch of the numerous cars and SUVs this year. Owing to the flurry of new car launches, the prices of the used cars dropped significantly, making them a bargain purchase. Additionally, according to the marketers, new car launches mean that the availability of used cars has also increased, thereby, increasing the demand for these cars. As per the Co-Founder and Marketing Head at Truebil, Shubh Bansal, around 27 new and facelifted models of four-wheelers were launched between January 2018 and September 2019. Hence, the prices of the older models of these cars witnessed a significant decline in the used car pool. The cars that are currently popular in the market include Suzuki Swift, Maruti Alto, and Honda City. According to the Chief Executive Officer at Mahindra First Choice Wheels, Ashutosh Pandey said, this trend was anticipated by many since there has been a lot of new car inventory due to low growth in the market. He further added that the rising fuel prices has also impacted the sector as the capital cost of asset as reduced sharply to make used car purchases a compelling course of action.
Leading Sports Car Team and Audi Contemplating DTM Expansion
In recent news, big time the WRT sportscar tea, has revealed that it is considering looking DTM expansion and running customer Audis RS5 DTMs next year.
Vincent Vosse, the Team boss recently said that they are excited about the realm of DTM and are looking to expand into the vertical with sports car giant, Audi, very soon. He also revealed that although nothing has been made official as yet, the talks will soon commence as they are short on time. Further, Vincent Vosse said that even though the venture may be a major financial commitment, the championship will certainly thrive with new and advanced technological regulations in place.
Vosse further added that provided WRT gives a green light to the established plans, it would very likely start running two cars. Audi, on the other hand, is looking to expand its customer team to boost its existing DTM roster in the following year, in the aftermath of the withdrawal of Mercedes from the championship earlier. In conclusion, the plan is to have at least eight cars on the grid, which in turn results in a pair of customer entries, apart from the existing six factor cars.