Content Table
India’s automobile sector is witnessing a flurry of activity as the festive season approaches, with several major launches and industry updates making headlines.
New Vehicle Launches
September 2024 is packed with exciting launches in both the car and two-wheeler segments. Among the highlights is the Mercedes-Maybach EQS SUV, set to debut on September 5. This luxury electric vehicle promises to be a game-changer with a range of approximately 600 kilometers and a dual-motor setup delivering 658 bhp.
Tata Motors is also making waves with the Tata Curvv, a mid-size SUV that marks the brand’s entry into this competitive segment. The Curvv, built on Tata’s new ATLAS platform, is available in multiple trim levels and is designed to offer a blend of style and performance. Another anticipated release is the Hyundai Alcazar Facelift, which will bring new features and a refreshed design to the popular SUV on September 9.
Royal Enfield has launched a new version of its Classic 350 in the two-wheeler segment, starting at ₹1.99 lakh. The updated model maintains its iconic design while adding modern features. Meanwhile, Hero MotoCorp is gearing up to release the new Destini 125 scooter later this month, featuring a completely redesigned aesthetic and updated tech.
Industry Performance and Trends
The Indian automobile industry has seen mixed results recently. Maruti Suzuki reported a strong demand for its CNG models, with CNG variants now making up one-third of its total sales in August 2024. However, the overall electric vehicle (EV) market in India has experienced a dip, with a 10% drop in EV sales in August, marking the lowest sales numbers for the year.
ICRA has revised its growth outlook for FY25 to 0-3% on the commercial vehicle front, citing factors like the upcoming general elections and extreme weather conditions as reasons for the moderated growth. However, the second half of the fiscal year is expected to see a recovery, supported by increased government and private sector investments(
As the industry continues to navigate these dynamics, the upcoming months, particularly with the festive season, are expected to bring more momentum to vehicle sales and new launches, positioning India’s automobile sector for a strong finish to the year.
