India’s passenger vehicle industry to see less than 5% growth in FY25, says Tata

India’s passenger vehicle industry to see less than 5% growth in FY25, says Tata

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By: HT Auto Desk
| Updated on: 25 Feb 2024, 15:57 PM

  • Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.
Tata Motors’ key official Shailesh Chandra has hinted at impending price hikes for passenger vehicles in the coming months.

Despite the rapidly rising demand for personal mobility and SUV-mania across the country, India’s passenger vehicle segment is likely to see less than five per cent growth in the next financial year, forecasted Tata Motors. Tata Motors Passenger Vehicles Managing Director Shailesh Chandra stated that India’s domestic passenger vehicle industry is likely to see moderate to less growth in the next fiscal starting in April 2024. However, the Tata Motors official believes electric vehicle sales in the country will grow despite the slow pace of EV charging infrastructure development.

Passenger vehicles to see sluggish growth

Chandra said that in FY23, the industry witnessed 25 per cent growth in the passenger vehicle segment, which is expected to become moderate in this financial year to about eight per cent. The Tata Motors official said that the industry is currently witnessing a high base effect and in the next financial year, there will be be slightly challenging situation for the segment. This challenging situation would result in the industry recording less than a five per cent growth rate in the next financial year, claimed Chandra during an analyst call.

Watch: 2023 Tata Safari review: Family SUV with bachelor spirit?

Passenger vehicles likely to be pricier

In the last few months, automakers in India have announced price hikes for their respective passenger vehicle models citing increasing production costs due to factors such as surging raw material costs, inflation etc. Chandra hinted that there would be more such price hikes in the next financial year, which would pose challenges to the growth of passenger vehicles.

Citing various challenges for the growth of passenger vehicles in India, Chandra noted that while commodity prices have been stable in the past quarter or so, there is a risk that prices may go up going forward. He hinted that costs of crucial raw materials are going up, which may impact the prices of passenger vehicles negatively in the coming months.

Watch: 2023 Tata Nexon EV facelift first drive review: Best-seller gets even better?

Electric vehicles to continue growing

Tata Motors is spearheading the democratisation of electric vehicles in India’s passenger vehicles segment. The homegrown OEM is leading the Indian electric car segment with more than 80 per cent market share. In the last few years, the segment has witnessed rapid growth thanks to various factors such as rising costs of petrol and diesel, narrowing price gap between electric and fossil fuel vehicles, availability of various government subsidies and incentives for EVs, tightening emission norms, growing awareness about environmental pollution and vehicular emissions’ impact on that, the launch of new electric cars etc. Tata Motors believes this growth momentum will continue in the next financial year as well.

Chandra said that in 2023, while the overall passenger vehicle industry grew eight per cent on a year-on-year basis compared to 2022, electric vehicle sales surged by 95-100 per cent YoY compared to the previous year. “I think this trend is likely to continue. So companies with stronger portfolios in CNG and EVs will grow,” Chandra said.

Watch: Tata Altroz iCNG: First Drive Review

Interestingly, this growth projection comes despite the sluggish pace of growth for the electric vehicle charging infrastructure, which is considered a key factor for the growth of electric vehicle sales. “As far as EVs are concerned, I think the biggest challenge here is the pace at which the charging infra is growing. It is lagging behind the pace at which the EV adoption is happening,” Chandra noted further adding, “Given that the charging infra is crucial to the growth and expansion of EV market, we have gone for an open collaboration approach with all charge point operators as well as the oil marketing companies who are focusing on expansion of charging infra.”

First Published Date: 25 Feb 2024, 15:57 PM IST


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2024 Suzuki Swift to come with new 3-cylinder engine & CVT gearbox. Check detail

2024 Suzuki Swift to come with new 3-cylinder engine & CVT gearbox. Check detail

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The fourth-gen Suzuki Swift broke cover in its concept form at the Japan Mobility Show. The manufacturer has now revealed that the 2024 Swift will come with a new three-cylinder engine. It is called Z12E and will come mated to a CVT automatic transmission as standard. Suzuki will also offer a hybrid and an all-wheel drive powertrain.

By: Paarth Khatri
| Updated on: 07 Nov 2023, 13:22 PM

The 2024 Suzuki Swift retains its overall silhouette but gets a revised exterior and interior.

The new engine is a three-cylinder unit as compared to the four-cylinder unit that we get in the Indian market. Suzuki says that this change has been done in favour of more low-end torque and more fuel efficiency. The new CVT automatic is designed specifically to be lightweight and contribute to increasing fuel economy. As of now, the manufacturer has not revealed the power and torque outputs of the new engine.

When compared, the current Swift in India gets a K-Series, four-cylinder unit that produces 89 bhp of max power and a peak torque output of 113 Nm. It comes mated to a 5-speed manual gearbox and a 5-speed AMT. The engine also gets mild-hybrid technology.

It is expected that the power and torque figures with the new engine will not change. The Indian market will get a 5-speed manual gearbox as standard but as of now, it is not confirmed whether the manufacturer will mate it with a CVT or an AMT automatic gearbox.

A look at the new Z12E, three-cylinder engine.

Suzuki has updated the exterior as well as the interior of the 2024 Swift. However, it has retained its iconic silhouette. The exterior now gets a new set of LED tail lamps and headlamps. The interior now is inspired by the Baleno and it features a new infotainment system and a new instrument cluster.

Also Read : Maruti Suzuki Swift facelift spotted testing in India. What it reveals

When the 2024 Swift launches in the Indian market, it will compete against the Tata Tiago and Hyundai Grand i10 Nios. The current price of the Swift starts at ₹5.99 lakh and goes up to ₹9.03 lakh. Both prices are ex-showroom. Once, the new generation launches, it is expected that the prices will go up slightly.

First Published Date: 07 Nov 2023, 13:22 PM IST


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Tata Punch iCNG launched at ₹7.10 lakh, comes with a sunroof

Tata Punch iCNG launched at ₹7.10 lakh, comes with a sunroof

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Powering the Punch iCNG is a 1.2-litre, three-cylinder engine that produces 84.82 bhp of max power and a peak torque output of 113 Nm while running on petrol. On CNG, the power output falls to 75.94 bhp whereas the torque output decreases to 97 Nm. The engine comes mated to a 5-speed manual gearbox or a 5-speed AMT. However, the CNG powertrain only gets a 5-speed AMT.

One of the biggest distinguishing features of Tata’s iCNG range is the use of dual-cylinder tech. Instead of using one large CNG cylinder, Tata Motors is using two small 30-litre cylinders which means the total capacity is rated for 60 litres. The cylinders are placed in the floor well of the boot. This means that there is still a usable boot space available for the occupants to store their luggage and other stuff.

Being a Tata, the CNG vehicles also come with several safety features. It gets a leak detection feature and Tata is using high-quality stainless steel and rust and corrosion-resistant materials. There is also thermal incident protection in which the CNG supply to the engine is cut off automatically and the gas in the cylinder is released into the atmosphere automatically. There is also a microswitch that makes sure that the car does not start if the fuel lid is open.

Cosmetically, the brand has not made any changes apart from the new iCNG badging. The cabin gets a CNG button that is used to switch the fuel supply from CNG to petrol or vice versa. The instrument cluster is updated to show a CNG gauge.

The Tata Punch CNG will come with twin-cylinder technology that brings two 30-litre tanks under the boot space, for a more practical storage solution

Commenting on the launch, Mr. Vinay Pant, Head-Marketing, Tata Motors Passenger Vehicles Ltd., said: “Building further on our success with the Altroz iCNG, and to make the CNG segment even more hotly contested, we are excited to introduce the twin cylinder technology in not just one but three products today – the Tiago, Tigor and the much awaited and loved sub compact SUV, the Tata Punch. Since its debut at the Auto Expo 2023, the Punch iCNG has been one of the most awaited products in this segment. With its uncompromised boot space and high end feature upgrades, the Punch iCNG demonstrates the go anywhere attitude of an SUV, which is engineered to meet the constantly evolving requirements of customers, who are tech savvy and demand best in class features along with an environment friendly and economical product. I am confident that these introductions put together will make our CNG line up appealing, holistic and stronger than ever.”

First Published Date: 04 Aug 2023, 12:51 PM IST


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