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<p><strong><span>Q. </span>What are the market trends at the moment? </strong></p><p><strong>Bajwa:</strong> The automotive industry is currently navigating through some challenges, with demand stabilising and the extended monsoon affecting certain areas of the economy, along with the expected seasonal impact of the Shraddh period. However, the ongoing festive season coupled with new product launches and attractive offers from OEMs is anticipated to bring a slight recovery in sales and renewed momentum in the market.</p><p><strong>Pawah:</strong> The Indian luxury automotive market is experiencing significant growth, driven by key trends such as the rising adoption of EVs, particularly among younger, affluent buyers, and the continued dominance of luxury SUVs. Demand for advanced tech features is on the rise, while smaller cities are becoming emerging markets for luxury brands. Automakers are focusing on sustainability, with eco-friendly initiatives gaining importance.</p><p><strong> Iyer: </strong>After a comparatively slower Q2, the overall automotive market is witnessing seasonal spurts of growth with the ongoing festive and the upcoming wedding season. There is buoyant customer sentiment with positive economic indicators and rise in corporate earnings. Mercedes-Benz is growing in double digits, bucking the overall luxury market trend, with exciting launches.</p><div class="itemcenter"><amp-iframe height="62" title="" width="320" sandbox="allow-forms allow-scripts allow-same-origin allow-popups allow-top-navigation allow-top-navigation-by-user-activation" allowfullscreen src="https://ancillary-proxy.atarimworker.dev?url=https%3A%2F%2Fakm-img-a-in.tosshub.com%2Fsites%2Findiatoday%2Fbanner%2Fpreferred-source-new.html%3Fv%3D1.014%5Cu0026native%3D1" class="mrBt15 preferred-source-banner"> </amp-iframe></div></p><p><strong> Banerjee:</strong> The current market trends reveal a significant transformation in consumer preferences, particularly evident in the growing uptake of cleaner vehicles. In Q1 FY25, CNG vehicles accounted for almost 18 per cent of the industry sales and for us they contribute to around 33 per cent of our overall sales. Additionally, strong hybrid technology is also fast gaining traction. Another trend is the growing demand for SUVs as they accounted for over 54 per cent of overall industry sales last month.</p><p><strong><span>Q.</span> Your expectations around the festive season? Do you see the market pick up and stay so? </strong></p><p><strong>Bajwa:</strong> At JSW MG Motor India, we are cautiously optimistic as our festive offers have begun to create positive traction and uptick in footfalls in the dealerships. We have rolled out special festive financing schemes, exchange bonuses and discounts on select models, which have generated encouraging customer response, especially in the EV segment. Our electric vehicles, MG Comet and MG ZS EV, continue to gain attention.</p><p><strong>Pawah:</strong> With the right timing between a major product offensive, financial offers and the festive season, BMW Group India is capitalising very well on the demand in luxury segment. In the time preceding the festive season, we launched nine powerful products—both cars and motorcycles—and we will keep this momentum going. With BMW 360° finance plan, flexible and comprehensive packages have been crafted to suit individual needs.</p><p><strong>Iyer:</strong> We expect a strong festive season and we should be growing in double digits compared to last year. We have exciting products like the New E-Class planned for festive launch. In addition, we have new world-class BEVs, like the EQS Maybach and the EQS SUV 580 launched recently, which are driving the BEV sales at top-end.</p><p><strong>Banerjee: </strong>The festive season has always been a pivotal period for the automotive industry, often accounting for about a quarter of annual sales. This year, Maruti Suzuki is stepping into this joyous time with remarkable momentum, having achieved record-breaking sales in Q1—our best and a milestone for the Indian automotive sector as a whole. Our optimism is bolstered by supportive government policies and encouraging macroeconomic indicators. But because of a high base year in 2023, we anticipate a more moderate growth trajectory.</p><p><strong><span>Q. </span>What role do you expect EVs to play as far as sales are concerned this year? </strong></p><p><strong>Bajwa:</strong> We are confident that the recent launch of the India&rsquo;s first intelligent CUV—MG Windsor, our third electric vehicle—will further boost sales momentum. And, with our recently announced industry-first initiative BaaS, we have created a platform for easy ownership, making our EVs more accessible than ever. Given the strong response to the BaaS programme offered on Windsor, we have also extended its benefits to our popular EV models, the Comet and ZS.</p><p><strong>Pawah:</strong> The Indian electric luxury market is still at a nascent stage but has immense potential. With continued support from the government, widespread availability of products across different segments and a strong charging infrastructure, electric mobility adoption will increase significantly. BMW Group India now offers six electric cars and two electric scooters in India. It is the first luxury car manufacturer in the country to cross the milestone of over 2,000 EV deliveries to date.</p><p><strong>Iyer:</strong> Our Battery EVs are growing at 60 per cent. We have doubled our BEV penetration to 5 per cent in the first half of 2024 and we expect the segment to continuously grow, albeit it will still take some time to achieve significant volumes. We already have a strong portfolio of six BEVs in India, from the EQA to the range-topping, ultra-luxurious EQS Maybach SUV, thus offering a BEV for every customer preference and requirement.</p><p><strong><span>Q.</span> What role do you expect hybrids to play...</strong></p><p><strong>Banerjee:</strong> In the evolving landscape of Indian automotive preferences, strong hybrids are steadily capturing the spotlight. As consumers become more informed about the technology, it&rsquo;s clear that hybrids are carving out their niche. For Maruti Suzuki, strong hybrid models saw a surge in demand the last fiscal. What sets them apart is the incorporation of regenerative braking technology, a game-changer. By 2030, we expect 25 per cent of our sales to come from hybrid models.</p><div id="lrcmtcont"></div><div class="end_story">- Ends</div><div class="dottedimg"></div><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">Arunima Jha</div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Oct 4, 2024</div></div></div>

Auto Special

<p><strong><span style="color:#c0392b;">Q. </span>What are the market trends at the moment? </strong></p><p><strong>Bajwa:</strong> The automotive industry is currently navigating through some challenges, with demand stabilising and the extended monsoon affecting certain areas of the economy, along with the expected seasonal impact of the Shraddh period. However, the ongoing festive season coupled with new product launches and attractive offers from OEMs is anticipated to bring a slight recovery in sales and renewed momentum in the market.</p><p><strong>Pawah:</strong> The Indian luxury automotive market is experiencing significant growth, driven by key trends such as the rising adoption of EVs, particularly among younger, affluent buyers, and the continued dominance of luxury SUVs. Demand for advanced tech features is on the rise, while smaller cities are becoming emerging markets for luxury brands. Automakers are focusing on sustainability, with eco-friendly initiatives gaining importance.</p><p><strong> Iyer: </strong>After a comparatively slower Q2, the overall automotive market is witnessing seasonal spurts of growth with the ongoing festive and the upcoming wedding season. There is buoyant customer sentiment with positive economic indicators and rise in corporate earnings. Mercedes-Benz is growing in double digits, bucking the overall luxury market trend, with exciting launches.</p><div class="itemcenter"><iframe scrolling="no" allowfullscreen="" frameborder="0" width="100%" height="62" awidth="320" aheight="62" amplayout="fixed" src="https://ancillary-proxy.atarimworker.dev?url=https%3A%2F%2Fakm-img-a-in.tosshub.com%2Fsites%2Findiatoday%2Fbanner%2Fpreferred-source-new.html%3Fv%3D1.014" class="preferred-source-banner" loading="lazy"></iframe></div><style>.preferred-source-banner{  margin-top: 10px; margin-bottom:10px;}</style></p><p><strong> Banerjee:</strong> The current market trends reveal a significant transformation in consumer preferences, particularly evident in the growing uptake of cleaner vehicles. In Q1 FY25, CNG vehicles accounted for almost 18 per cent of the industry sales and for us they contribute to around 33 per cent of our overall sales. Additionally, strong hybrid technology is also fast gaining traction. Another trend is the growing demand for SUVs as they accounted for over 54 per cent of overall industry sales last month.</p><p><strong><span style="color:#c0392b;">Q.</span> Your expectations around the festive season? Do you see the market pick up and stay so? </strong></p><p><strong>Bajwa:</strong> At JSW MG Motor India, we are cautiously optimistic as our festive offers have begun to create positive traction and uptick in footfalls in the dealerships. We have rolled out special festive financing schemes, exchange bonuses and discounts on select models, which have generated encouraging customer response, especially in the EV segment. Our electric vehicles, MG Comet and MG ZS EV, continue to gain attention.</p><p><strong>Pawah:</strong> With the right timing between a major product offensive, financial offers and the festive season, BMW Group India is capitalising very well on the demand in luxury segment. In the time preceding the festive season, we launched nine powerful products—both cars and motorcycles—and we will keep this momentum going. With BMW 360° finance plan, flexible and comprehensive packages have been crafted to suit individual needs.</p><p><strong>Iyer:</strong> We expect a strong festive season and we should be growing in double digits compared to last year. We have exciting products like the New E-Class planned for festive launch. In addition, we have new world-class BEVs, like the EQS Maybach and the EQS SUV 580 launched recently, which are driving the BEV sales at top-end.</p><p><strong>Banerjee: </strong>The festive season has always been a pivotal period for the automotive industry, often accounting for about a quarter of annual sales. This year, Maruti Suzuki is stepping into this joyous time with remarkable momentum, having achieved record-breaking sales in Q1—our best and a milestone for the Indian automotive sector as a whole. Our optimism is bolstered by supportive government policies and encouraging macroeconomic indicators. But because of a high base year in 2023, we anticipate a more moderate growth trajectory.</p><p><strong><span style="color:#c0392b;">Q. </span>What role do you expect EVs to play as far as sales are concerned this year? </strong></p><p><strong>Bajwa:</strong> We are confident that the recent launch of the India&rsquo;s first intelligent CUV—MG Windsor, our third electric vehicle—will further boost sales momentum. And, with our recently announced industry-first initiative BaaS, we have created a platform for easy ownership, making our EVs more accessible than ever. Given the strong response to the BaaS programme offered on Windsor, we have also extended its benefits to our popular EV models, the Comet and ZS.</p><p><strong>Pawah:</strong> The Indian electric luxury market is still at a nascent stage but has immense potential. With continued support from the government, widespread availability of products across different segments and a strong charging infrastructure, electric mobility adoption will increase significantly. BMW Group India now offers six electric cars and two electric scooters in India. It is the first luxury car manufacturer in the country to cross the milestone of over 2,000 EV deliveries to date.</p><p><strong>Iyer:</strong> Our Battery EVs are growing at 60 per cent. We have doubled our BEV penetration to 5 per cent in the first half of 2024 and we expect the segment to continuously grow, albeit it will still take some time to achieve significant volumes. We already have a strong portfolio of six BEVs in India, from the EQA to the range-topping, ultra-luxurious EQS Maybach SUV, thus offering a BEV for every customer preference and requirement.</p><p><strong><span style="color:#c0392b;">Q.</span> What role do you expect hybrids to play...</strong></p><p><strong>Banerjee:</strong> In the evolving landscape of Indian automotive preferences, strong hybrids are steadily capturing the spotlight. As consumers become more informed about the technology, it&rsquo;s clear that hybrids are carving out their niche. For Maruti Suzuki, strong hybrid models saw a surge in demand the last fiscal. What sets them apart is the incorporation of regenerative braking technology, a game-changer. By 2030, we expect 25 per cent of our sales to come from hybrid models.</p><div id="lrcmtcont"></div><div class="end_story">- Ends</div><div class="dottedimg"></div><div class="authors__container"><div class="authors__by"><div class="authlable">Published By: </div><div class="authdetaisl">Arunima Jha</div></div><div class="published__on"><div class="authlable">Published On: </div><div class="authdetaisl">Oct 4, 2024</div></div></div>

With the festive season promising a growth spurt, we ask automotive industry leaders about their expectations, especially in view of the changes in consumer choices and regulatory push for cleaner fuels

India Today

Insider insights | The green pastures - India Today

Insider insights | The green pastures

23-year-old Hindu man burned alive inside garage in Bangladesh, family calls it pre-meditated murder

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Suryakumar Yadav is back in form at the right time with India aiming to defend their T20 World Cup crown. With the captain back amongst the runs, SKY offers a new dimension to India's already destructive batting order. 

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The new middle-class nightmare isn’t recession but redundancy at 40. It takes one call, one email, one "restructuring", and your peak earning years are wiped out. It is true, India is creating a 20-year gap where people are neither employed nor retired, just stuck in survival mode.

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The Bangladesh Cricket Board has accepted the ICC’s decision to drop them from the T20 World Cup 2026 after refusing to travel to India. The BCB said there was nothing more they could do.

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Prime Minister Narendra Modi’s election rally in poll-bound Kerala on Thursday saw a warm and light-hearted moment when he paused his speech to acknowledge a young child in the crowd holding up his picture, drawing loud applause. Modi asked the boy to hand over the photograph, write his home address on the back, and promised to write to him personally, directing SPG personnel to handle the picture carefully as a token of the child’s affection. 

PM Modi's Kerala  rally.

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 Amidst inclement weather and heavy snowfall, a team of Udhampur police rescued 12 individuals, including women and children, who were stranded at Chochru Galla in the upper ridges of the Basantgarh area.

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Ajith Kumar's fans took the celebrations too seriously as they burst crackers inside a theatre hall during Mankatha screening. The film re-released in South India on January 23.

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Insider insights | The green pastures

With the festive season promising a growth spurt, we ask automotive industry leaders about their expectations, especially in view of the changes in consumer choices and regulatory push for cleaner fuels

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