The drop in China sales was estimated to reduce JLR’s full-year earnings before interest and tax (EBIT) margin by about 1%, Tata Motors said in a statement on Friday. The demand is expected to be impacted in other markets where COVID-19 has spread to, Tata Motors said, citing South Korea, Japan, and Italy as examples.

MUMBAI: The novel coronavirus outbreak has thrown a wrench into the works of Jaguar Land Rover’s recovery plan with its sales in China — the largest market for the UK-based luxury carmaker — crashing 85% in February.
The drop in China sales was estimated to reduce JLR’s full-year earnings before interest and tax (EBIT) margin by about 1%, its parent Tata MotorsNSE -9.30 % said in a statement on Friday. JLR had earlier given a guidance of EBIT margin between 3-4% for 2019-20.
EBIT margin during the first nine months of the financial year stood at 1.3%. Substantial recovery was expected during the ongoing quarter.
“Jaguar Land Rover sales in China grew on average about 25% year on year for the six months from July through December 2019 and we continued to see strong growth for the first three weeks of January,” the carmaker said in a note.
The demand is expected to be impacted in other markets where COVID-19 has spread to, Tata Motors said, citing South Korea, Japan, and Italy as examples.
There could be some pressure on the supply side as well. While the supply chain for JLR is primarily based out of Europe, risk of a shortage of critical component impacting production cannot be ruled out, the company said. Most parts would be available for at least the next two weeks, it said. Also, almost all its suppliers in China were resuming production.
Following the release of the statement, the stock of Tata Motors crashed 9.07% to close at Rs 114.25 per share on the BSE on Friday while the benchmark Sensex fell 2.32%.
JLR accounts for about 80% of Tata Motors’ consolidated revenue. A slowdown for the former in China earlier had brought down the parent company’s financials even as its domestic business in India was showing signs of recovery.
Still, the company expects to end the quarter with positive free cash flow.
Tata Motors’ domestic business in India too could be impacted by the virus outbreak. While the company has finished its production run for vehicles compliant with Bharat Stage-IV emission norms — the deadline for selling and registering such vehicles is March 31 — the ramp up of production for BS-VI vehicles could be jeopardised due to parts shortage, the company said. ET had reported this on Thursday.
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The two-wheeler major is also looking to have a separate exclusive sales network for the premium bikes as its looks to establish the business as a sustainable standalone vertical going ahead.

NEW DELHI: Honda Motorcycle and Scooter India (HMSI) plans to locally produce some of its imported premium bikes from the next fiscal to make such products more affordable and thereby garner volumes, according to a top company official. The company, which sells only CB300R bike in the middle-weight category right now, plans to bring in more models in the up to 500-cc segment as part of plans to scale up its premium bike business in the country.
The two-wheeler major is also looking to have a separate exclusive sales network for the premium bikes as its looks to establish the business as a sustainable standalone vertical going ahead.
“If we want to have sustainable expansion of this business, it is very important that we need to have a good range of products, not only from the branding point of view but there have to be certain key models which are going to bring in volumes in the future,” HMSI Senior Vice President (Sales and Marketing) Yadvinder Singh Guleria told .
The company has identified the middle-weight category bike segment (up to 500 cc engines) to do well in the country going ahead, he added. “So this is one area where we are looking at the expansion of the product range,” he added.
The company currently has only one premium model below the 500 cc mark – the 350-cc CB 300 R, which was launched last year and has done well in terms of sales.
Guleria said the company will also start mass production of some of the existing premium bikes, including one product below 500 cc, from next fiscal in the country to make the products more affordable.
Currently, the company does not have mass production of any of its seven premium products in the country.
It brings four models – Gold Wing, CBR 1000 RR, CBR Fireblade and Forza 300 – as completely built up units (CBUs), and three models – CB 300 R, CBR 650 R and Africa Twin – as completely knocked down units (CKDs).
“So it will be a mix of CBU, CKD assembly and the mass production and this is going to be our game plan for moving ahead in terms the product lineup, enhancing the affordability of products in mind and scalability of the business in the future,” Guleria said.
He added the mass production initiative would kick-start in the next financial year itself within the company’s existing facilities.
Asked if the company has set some sales target from the premium segment, Guleria said, “We have prepared a long roadmap. It will be too early to say what percentage we want..but definitely we want that it should be sustainable and scalable on its own rather then depending upon the main business in times to come.”
On sales network, he said insights from Honda’s global experience showed that it is always better to take care of premium product customers through a separate network.
“So that was the reason why we wanted to move ahead for this business in a totally separate vertical in the company,” Guleria added.
Elaborating further, he said, “Currently, we have one Big Wing dealership and 22 shop-in-shops, but slowly these 22 shop-in-shops will transition to exclusive stores. By the end of this year, we will not have this concept of shop-in-shops.”

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Two-wheeler and commercial vehicle makers and dealers that hold unsold Bharat Stage-IV stock may offer huge discounts in the coming days, with less than three weeks left to register such vehicles, industry executives said.

Mumbai: Two-wheeler and commercial vehicle makers and dealers that hold unsold Bharat Stage-IV stock may offer huge discounts in the coming days, with less than three weeks left to register such vehicles, industry executives said. There is substantial unsold stock of BS-IV units with some of the manufacturers, they said. The country will adopt BS-VI emission standards on April 1, from when vehicles complying with BS-IV standards wouldn’t be allowed to sell or register.
While the BS-IV passenger vehicle inventory is said to be in a comfortable position, except for some specific colours, models and configuration of a few manufacturers, it is not so in two-wheelers and small CVs, said dealers. “If you don’t sell the BS-IV stocks by March 31, then a dealer is stuck with unsold inventory as the customer cannot even register the vehicle post March 31. So, keeping this in mind, OEMs are being supportive and standing by dealers by giving them extra financial support a ..
Discounts, including exchange bonus, currently are in the range of Rs 10,000 for models like Hero’s Pleasure and Maestro scooters and as much as Rs 40,000 for the Mahindra Pickup, Camper and the Maxi Truck.
Right across the country, auto companies are working overtime as no dealer can afford to have unsold BS-IV vehicles. Dealers are being advised that unless these vehicles were registered, they should not deliver those to customers. Dealers are currently much more focused on liquidating their BS-IV stocks, especially in twowheelers, than wooing customers to buy the BS-VI versions.
Dealers are nervous also about possible delays they could face in the registration process at RTOs towards the end of the month. There is no provision for doing a temporary registration in March and completing the final registration in April. As a desperate measure, some dealers may register vehicles in their own names, only to sell them off as second-hand vehicles next month, albeit at a huge loss, said some industry executives.
This situation is emerging at a time when the industry is going through one of its worst slowdowns. Two-wheeler sales fell nearly 13% year-on-year between April 2019 and January 2020 to about 15.26 million units. “Companies that took a conscious call almost 6-7 months ago to restrict production and dispatches of BS-IV vehicles are sitting on manageable levels of inventory,” said Vinay Raghunath, partner, auto sector performance improvement, at EY India.


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Expected to be launched by mid this year, the revamped Verna’s is said to be coming with a new 1.0-litre petrol along with 1.5 litre petrol and diesel options. The car is expected to offer some nifty features like tyre pressure monitors, vehicle remote immobilisation, vehicle tracking, smartwatch connectivity and a huge 10.67 cm infotainment system is expected.

Korean carmaker Hyundai aired teasers of its upcoming Verna 2020 model two days back, confirming that the sedan will come updated with front grille and a revised rear profile.
Expected to be launched by the middle of this year, the revamped BS-VI compliant Verna version is said to be coming with a new 1.0-litre petrol engine that will offer 120 PS of power ad 172 Nm of torque.
Some other reports, however, have claimed that the Verna 2020 will come in 1.5L petrol and diesel engine options.
As per reports, the 1 litre petrol engine model will have 7-speed Dual Clutch Transmission while the 1.5-litre petrol model will come with 6-speed manual transmission and intelligent variable transmission models.
The diesel 1.5-litre model may come in 6-speed manual transmission and 6-speed Automatic Transmission models, as per reports.
Besides some nifty features like tyre pressure monitors, vehicle remote immobilisation, vehicle tracking, smartwatch connectivity and a 10.67 cm colour TFT screen is expected.
The Hyundai Verna 2020 is also expected to offer smart trunk, emergency stop signal, wireless charger, ECO coating, luggage net and hooks, rear USB charger and Arkamys premium sound, reported Times of India.

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https://economictimes.indiatimes.com/industry/auto/cars-uvs/hyundai-verna-2020-coming-heres-what-we-know-so-far-about-the-new-sedan/articleshow/74577837.cms

Daimler India Commercial Vehicles (DICV), the maker of Bharat Benz trucks, expects January-March quarter (Q1) to be positive after decline of multiple quarters, and is hoping for sops in the upcoming budget to drive consumption and cushion the decline that is expected post price increase of almost 10-15% in Q2 and Q3 of 2020 due to the implementation of BS-VI norms-compliant technology.

MUMBAI: Contractors with infrastructure projects have started to get paid and with additional fiscal fillip widely expected in February’s annual budget just before BS-VI emission norms kick in later in April, pre-buying of commercial vehicles is gaining momentum.
Daimler India Commercial Vehicles (DICV), the maker of Bharat Benz trucks, expects January-March quarter (Q1) to be positive after decline of multiple quarters, and is hoping for sops in the upcoming budget to drive consumption and cushion the decline that is expected post price increase of almost 10-15% in Q2 and Q3 of 2020 due to the implementation of BS-VI norms-compliant technology.
Satyakam Arya, managing director of DICV, said the liquidity situation in the market has improved and thanks to the government payout to contractors, the offtake in the market has improved too. “All fleet owners know that the cost will go up and we have seen a change; some of them over the last few weeks have resorted to pre-buying. They have said that they have received the payment; new contracts are getting awarded. Scrappage policy, if defined well, can also help the industry,” added Arya.
The DICV head said he is hopeful the finance minister will put out a budget that boosts consumption and revives investment, which may pull the industry out of this prolonged slowdown.
IIP growth turned positive in November after declining for four consecutive months. Capital expenditure by the Government of India has gained momentum after a tepid start at the beginning of the year.
After witnessing a 4% drop in the first four months of this financial year, government capex grew 32% during August to November to Rs 1.06 lakh crore, ETIG data compiled from the Controller General of Accounts showed. In the first eight months of this fiscal, it grew 11.7% to Rs 2.13 lakh crore. The budget estimate for FY20 had projected the figure at Rs 3.38 lakh crore.
The Union government’s capex is expected to rise further in the next fiscal if the targets for the national infrastructure pipeline are met. Infrastructure spending as a percentage of the gross domestic product is expected at 8.6% in FY21 as compared to 6.6% in the current fiscal, according to Axis Capital.
The pick-up in the infrastructure projects augurs well for the heavy truck makers given that nearly half the truck demand comes from this segment. It must be noted that heavy truck market and IIP growth have high positive correlation.
However, Arya cautions that despite demand rising in Q1, the market for medium and heavy trucks is likely to slip by another 10% this year to about 2.2 lakh units as against 2.49 lakh sold in 2019, making it the second consecutive year of decline after the industry registered a 34% fall in sales in 2019 from 3.78 lakh units sold a year earlier.
On its part, the company has come out with a new range of trucks, which it claims is 10% better on fuel efficiency and has 6% lower maintenance cost than the outgoing BS-IV trucks.

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Introduction
India became the fourth largest auto market in 2018 with sales increasing 8.3 per cent year-on-year to 3.99 million units. It was the seventh largest manufacturer of commercial vehicles in 2018.
The Two Wheelers segment dominates the market in terms of volume owing to a growing middle class and a young population. Moreover, the growing interest of the companies in exploring the rural markets further aided the growth of the sector.
India is also a prominent auto exporter and has strong export growth expectations for the near future. Automobile exports grew 14.50 per cent during FY19. It is expected to grow at a CAGR of 3.05 per cent during 2016-2026. In addition, several initiatives by the Government of India and the major automobile players in the Indian market are expected to make India a leader in the two-wheeler and four-wheeler market in the world by 2020.
Market Size
Overall domestic automobiles sales increased at 6.71 per cent CAGR between FY13-19 with 26.27 million vehicles getting sold in FY19. Domestic automobile production increased at 6.96 per cent CAGR between FY13-19 with 30.92 million vehicles manufactured in the country in FY19.
In FY19, year-on-year growth in domestic sales among all the categories was recorded in commercial vehicles at 17.55 per cent followed by 10.27 per cent year-on-year growth in the sales of three-wheelers.
Premium motorbike sales in India crossed one million units in FY18. During January-September 2018, BMW registered a growth of 11 per cent year-on-year in its sales in India at 7,915 units. Mercedes Benz ranked first in sales satisfaction in the luxury vehicles segment according to J D Power 2018 India sales satisfaction index (luxury).
Sales of electric two-wheelers are estimated to have crossed 55,000 vehicles in 2017-18.
Investments
In order to keep up with the growing demand, several auto makers have started investing heavily in various segments of the industry during the last few months. The industry has attracted Foreign Direct Investment (FDI) worth US$ 22.35 billion during the period April 2000 to June 2019, according to data released by Department for Promotion of Industry and Internal Trade (DPIIT).
Some of the recent/planned investments and developments in the automobile sector in India are as follows:
• Audi India plans to launch nine all-new models including Sedans and SUVs along with futuristic e-tron electric vehicle (EV) by the end to 2019.
• MG Motor India to launch MG ZS EV electric SUV in early 2020 and plans to launch affordable EV in next 3-4 years.
• BYD-Olectra, Tata Motors, Ashok Leyland to supply 5,500 electric buses for different state departments.
• Premium motorbike sales in India recorded seven-fold jump in domestic sales reaching 13,982 units during April-September 2019. The sale of luxury cars stood between 15,000 to 17,000 in first six months of 2019.
• In H1 2019, automobile manufacturers invested US$ 501 million in India’s auto-tech companies start-ups, according to Venture intelligence.
• For self-driving and robotic technology start-ups, Toyota plans to invest US$100 million.
• In India, 7 Series face lift launched by BMW and the new X7 SUV has been introduced at Rs 98.90 lakh (US$ 0.14 million).
• Ashok Leyland has planned a capital expenditure of Rs 1,000 crore (US$ 155.20 million) to launch 20-25 new models across various commercial vehicle categories in 2018-19.
• Hyundai is planning to invest US$ 1 billion in India by 2020. SAIC Motor has also announced to invest US$ 310 million in India.
• Mercedes Benz has increased the manufacturing capacity of its Chakan Plant to 20,000 units per year, highest for any luxury car manufacturing in India.
• As of October 2018, Honda Motors Company is planning to set up its third factory in India for launching hybrid and electric vehicles with the cost of Rs 9,200 crore (US$ 1.31 billion), its largest investment in India so far.
• In November 2018, Mahindra Electric Mobility opened its electric technology manufacturing hub in Bangalore with an investment of Rs 100 crore (US$ 14.25 million) which will increase its annual manufacturing capacity to 25,000 units.
Government Initiatives
• The Government of India encourages foreign investment in the automobile sector and allows 100 per cent FDI under the automatic route.
• Some of the recent initiatives taken by the Government of India are –
• Under Union Budget 2019-20, government announced to provide additional income tax deduction of Rs 1.5 lakh (US$ 2,146) on the interest paid on the loans taken to purchase EVs.
• The government aims to develop India as a global manufacturing centre and an R&D hub.
• Under NATRiP, the Government of India is planning to set up R&D centres at a total cost of US$ 388.5 million to enable the industry to be on par with global standards.
• The Ministry of Heavy Industries, Government of India has shortlisted 11 cities in the country for introduction of electric vehicles (EVs) in their public transport systems under the FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles in India) scheme. The government will also set up incubation centre for start-ups working in electric vehicles space.
• In February 2019, the Government of India approved the FAME-II scheme with a fund requirement of Rs 10,000 crore (US$ 1.39 billion) for FY20-22.
Achievements
Following are the achievements of the government in the past four years:
• On 29th July 2019, Inter-ministerial has sanctioned 5,645 electric buses for 65 cities.
• NATRIP’s proposal for “Grant-In-Aid for test facility infrastructure for Electric Vehicle (EV) performance Certification from NATRIP Implementation Society” under FAME Scheme which had been approved by Project Implementation and Sanctioning Committee (PISC) on 3rd January 2019.
• Number of vehicles supported under FAME scheme increased from 5,197 in June 2015 to 192,451 in March 2018. During 2017-18, 47,912 two-wheelers, 2,202 three-wheelers, 185 four-wheelers and 10 light commercial vehicles were supported under FAME scheme.
• Under National Automotive Testing And R&D Infrastructure Project (NATRIP), following testing and research centres have been established in the country since 2015
o International Centre for Automotive Technology (ICAT), Manesar
o National Institute for Automotive Inspection, Maintenance & Training (NIAIMT), Silchar
o National Automotive Testing Tracks (NATRAX), Indore
o Automotive Research Association of India (ARAI), Pune
o Global Automotive Research Centre (GARC), Chennai
• SAMARTH Udyog – Industry 4.0 centres: ‘Demo cum experience’ centres are being set up in the country for promoting smart and advanced manufacturing helping SMEs to implement Industry 4.0 (automation and data exchange in manufacturing technology).
Road Ahead
The automobile industry is supported by various factors such as availability of skilled labour at low cost, robust R&D centres and low cost steel production. The industry also provides great opportunities for investment and direct and indirect employment to skilled and unskilled labour.
Indian automotive industry (including component manufacturing) is expected to reach Rs 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. Two-wheelers are expected to grow 9 per cent in 2018.
References: Media Reports, Press Releases, Department of Industrial Policy and Promotion (DIPP), Automotive Component Manufacturers Association of India (ACMA), Society of Indian Automobile Manufacturers (SIAM), Union Budget 2015-16, Union Budget 2017-18
Note:Conversion rate used as on September 2019, Re 1 = US$ 0.014019
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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Tractor major Mahindra & Mahindra has posted a 21 per cent growth in domestic sales in February 2020 at 21,877 units, as against 18,105 units during the previous corresponding period.

Tractor major Mahindra & Mahindra has posted a 21 per cent growth in domestic sales in February 2020 at 21,877 units, as against 18,105 units during the previous corresponding period.
Total tractor sales (Domestic + Exports) during February 2020 were at 22,561 units, as against 18,978 units for the same period last year, a growth of 19%. Exports for the month stood at 684 units.
Commenting on the performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra LtdNSE -9.02 %. said, “The tractor demand trend is expected to strengthen on the back of a robust Rabi output and the prevailing crop prices. Going forward, the increase in rural and agri spending on core schemes by the Government should augur well for the industry. In the exports market, we have sold 684 tractors”.

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Sundram Fasteners has invested Rs 100 crore in the facility, which exported its first order to Germany to a European manufacturer– supplying to marquee OEMs– on Tuesday.

CHENNAI: Sundram FastenersNSE -6.69 %, part of the $8.5 billion TVS Group, has set up a high-precision engineering components manufacturing facility in the Sri City Special Economic Zone on the Tamil Nadu-Andhra Pradesh border, the company said in a release on Wednesday.
Sundram Fasteners has invested Rs 100 crore in the facility, which exported its first order to Germany to a European manufacturer– supplying to marquee OEMs– on Tuesday.
“The new Unit will provide further impetus to the Company’s export thrust through addition of products to its portfolio as well as diversifying its export customer base,” the company said in a release.
Expanding its manufacturing base amid a severe sales downturn in the domestic automotive industry, Sundram Fasteners posted a Rs 103-crore Standalone net profit for the third quarter of FY20, posting 18% EBITDA on operational efficiencies and cost control. Revenue was down to Rs 692.8 crore from Rs 1018.8 crore same period last year.
Sundram Fasteners makes high-tensile fasteners, powder metal components, cold extruded parts, radiator caps, hubs and shafts and other parts.

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“Dealers are defensive, financers are defensive and so are automakers. As a result, there has been hardly any pre-buy. We expect the same to continue in March. Hence, the demand should be much better in the next financial year than expected earlier,” Vinod Aggarwal, managing director said.

MUMBAI: VE Commercial Vehicles Ltd, a joint venture between Eicher MotorsNSE -4.96 % and Swedish truck maker Volvo, has decided to go ahead with its plan of setting up a new 40,000-units-a-year factory in Bhopal, even as the Indian commercial vehicle market stares at its steepest decline in growth in a decade.
Vinod Aggarwal, managing director, VE Commercial Vehicles, told ET that the first two quarters of 2020-21 may not see a very steep decline on account of price hike.
“Dealers are defensive, financers are defensive and so are automakers. As a result, there has been hardly any pre-buy. We expect the same to continue in March. Hence, the demand should be much better in the next financial year than expected earlier,” said Aggarwal.
Sales in the 16-55 tonne truck segment plunged more than 50% year-on-year in February, as against the year-to-date decline of 45%, and it appears that the decline in March may be similar to that for other truck makers as they have stopped producing BS-IV trucks.
In April 2019-January 2020, VE Commercial Vehicles registered a decline of more than 23% year-to-year to about 39,000 units, with a market share of 6%.
The company’s BS-IV stock has come to down to just five days and much of its production is aligned to retail demand. Aggarwal said the company is insulated from Covid-19 and has its supplies secured for the month of March.
The company expects the market to rebound to low single-digit growth in the next financial year and outpace the market, said Aggarwal.
Unveiling the company’s Eutech BS-VI range of trucks in Pithampur on Wednesday, Aggarwal said that while the company is in the midst of severe cost-cutting plans and may defer some investment, it won’t stop strategic investments like expansion of the Bhopal factory, where production is set to begin from April 1.
The company has rationalised the number of shifts and controlled all discretionary expenses. It has deferred some capital expenditure but that is not impacting strategic investments like the Bhopal factory.
The company will invest about Rs 250 crore instead of Rs 400 crore in the Bhopal factory. The paint shop planned for Bhopal plant has been deferred and the company will utilise its Pithampur plant, also in the state of Madhya Pradesh, for the paint operation. The move will ensure that the excess staff from Pithampur can be utilised at the Bhopal plant and there may not be any job cuts.
The new BS-VI trucks are expected to come at a 7-15% price premium over the existing range and the experience of supplying more than 100,000 Euro VI engines to over 40 countries for Volvo will give the company an edge, said Aggarwal.

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Indian auto industry had already maintained an inventory in the beginning of the year in anticipation of the Chinese New Year holiday but with the current lockdown in China, supply for BS-VI vehicles is likely to get impacted, SIAM President Ranjan Wadhera said in a statement.

New Delhi: Vehicle production across all categories is likely to be critically hampered due to the coronavirus outbreak in China as many automakers in India import about 10 per cent of their raw materials from the neighbouring nation, auto industry body SIAM said on Wednesday.
Indian auto industry had already maintained an inventory in the beginning of the year in anticipation of the Chinese New Year holiday but with the current lockdown in China, supply for BS-VI vehicles is likely to get impacted, SIAM President Ranjan Wadhera said in a statement.
The auto industry body said disruption in availability of these parts is likely to critically hamper production across all segments, namely passenger vehicles, commercial vehicles, three-wheelers, two-wheelers and gravely affecting electric vehicles.
“Manufacturers are exploring alternatives to fulfil their supply chain demands but that would also take a substantial amount of time to reach stable production scale as these components would need regulatory testing,” he added.
Society of Indian Automobile Manufacturers (SIAM) has been in touch with the government with specific recommendations on behalf of the auto industry, he added.

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