Discover the recent strides in India's automotive domain, from the launch of TVS iQube's electric scooter variants to Maruti Fronx's latest variant debut, alongside Mahindra's investment agenda and dividend declaration. Stay in the loop with all significant occurrences in the automotive sector as we dissect the week's highlights.
Renault offersgenerous discounts on Kiger, Kwidand Triber models
Renault India unveils substantial discounts across its lineup, including the Kiger compact SUV, Kwid hatchback, and Triber seven-seater. Customers can relish cash benefits, exchange incentives, and loyalty rewards, with certain buyers qualifying for additional perks like referral bonuses, corporate benefits, and loyalty rewards throughout the month. Furthermore, Renault extends an additional exchange benefit to participants in its vehicle scrappage scheme, R.E.Li.V.E, promoting eco-friendly scrappage and dismantling initiatives while managing all legal certifications seamlessly.
Read More: Renault offers massive discounts on Kiger, Kwid and Triber models
Mahindra & Mahindra to infuse Rs 12,000 crore in its EV unit
Automaker Mahindra & Mahindra reveals plans to invest Rs 12,000 crore in its electric vehicle (EV) unit over the next three years. In a recent stock exchange filing, the company announces its approval for a Rs 12,000 crore investment in Mahindra Electric Automobile Limited (MEAL) to fuel its EV journey in the coming years.
Mahindra XUV 3XO sets booking milestone: Over 50,000 orders in just 60 minutes
Mahindra XUV 3XO makes waves in the automotive realm, amassing a staggering 50,000 bookings within the first hour of its availability. The highly anticipated SUV, launched by Mahindra & Mahindra (M&M) on April 29, witnesses unprecedented popularity since its debut.
Read More: Mahindra XUV 3XO sets booking record: Over 50,000 orders in just 60 minutes; deliveries to commence from May 26
Kia introducesupgraded EV6 with enhanced 84 kWh battery pack
Kia introduces the revamped EV6, preparing for its imminent launch in the upcoming months. This overhaul marks a significant update for the EV6, emerging three years after its initial introduction. Alongside aesthetic enhancements, the highlight of this iteration is the introduction of a larger battery pack. The revamped EV6, available in single- and dual-motor configurations, awaits enthusiasts on Indian roads later this year, with details about the EV6 GT yet to be revealed.
Read More: Kia unveils upgraded EV6 with a larger 84 kWh battery pack
Maruti Suzuki introduces new Delta+(O) variant for Fronx with enhanced safety features
Maruti Suzuki expands its Fronx lineup with the Delta+(O) variant, catering to mid-level consumers seeking a balance of affordability and advanced safety features. Positioned between the Delta+ and Zeta models, the new variant offers a compelling option for buyers, priced between Rs 8.93 lakh and Rs 9.43 lakh (ex-showroom).
Read More: Maruti Suzuki introduces new Delta+(O) variant for Fronx with enhanced safety features and unique offerings
Skoda offers substantial discounts on Kushaq and Slavia in May 2024
Skoda rolls out significant discounts and benefits this May for its Kushaq midsize SUV and Slavia sedan. The offers include cash benefits, complimentary 3-year/45,000km maintenance packages, and extended warranties up to 5 years or 1.25 lakh km, whichever comes first. Notably, the Superb sedan and Kodiaq seven-seater SUV, available only as CBUs, do not feature any official benefits.
Read More: Skoda offers big discounts on Kushaq and Slavia in May 2024
TVS iQube electric scooter new variants launched, starting range at Rs 94,999
Two and three-wheeler manufacturer TVS Motor introduces a new range of its popular electric scooter, TVS iQube, expanding its product portfolio. With the launch of new variants, the TVS iQube portfolio commences at an introductory price of Rs 94,999 ex-showroom.
Read More: TVS iQube electric scooter new variants launched, range starts from Rs 94,999
Domestic passenger vehicle sales up 1.3% at 3,35,629 units in April: SIAM
Domestic passenger vehicle sales in India witness a 1.3% year-on-year increase, totaling 3,35,629 units in April, as per automobile industry body SIAM's recent report. The dispatches of passenger vehicles from companies to dealers stood at 3,31,278 units in April 2023.
Read More: Domestic passenger vehicle sales up 1.3% at 3,35,629 units in April: SIAM
Mahindra & Mahindra announces Rs 21.10/share dividend along with Q4 results
Mahindra & Mahindra's board of directors recommends a dividend of Rs 21.10 per equity share for FY24, as disclosed through a stock market announcement. Through a BSE filing, M&M declares, "Recommendation of a Dividend of Rs. 21.10 (422%) per Ordinary (Equity) Share of the face value of Rs. 5 each."
TVS Motor Co commences operations in Italy
TVS Motor Company Ltd initiates its operations in Italy, unveiling plans to introduce both conventional and electric scooters and motorcycles. Expanding its footprint in Italy, the company establishes its presence via TVS Motor Italia, led by Giovanni Notarbartolo di Furnari, as stated in a regulatory filing.
Read More: TVS Motor Co starts operations in Italy
