Automobiles

Positive development for carmakers as price rise due to airbag additions would have impacted demand

The company said these vehicles have interoperability with existing charging infrastructure of cars and could be charged completely in an hour in fast charging.

The steady demand for two wheelers in August was attributed to the sustained outperformance of the premium segment and gradual recovery in EV volumes.

Even as the passenger vehicle market grew at 27% in FY23 to post its highest-ever domestic sales of 3.9 million units, Honda sales grew at 7% to 91,418 units.

In the last 2-3 years, two-wheeler prices have risen sharply, delaying the recovery of small engine-powered bikes. premium segment has not been impacted much by price rises, or slowdowns.

Both these launches address the key void in HMCL's premium product portfolio, the analysis said, referring to Hero's portfolio that is heavily tilted towards the commuter and mass markets segments.

Bajaj Auto reported a sharp, 31% decline in its domestic two wheeler sales for August, even as exports remained flat

Hero has plans to launch a new premium product every quarter for the next three to four quarters and give a facelift to its stores.

The company has reached 20 lakh units in production and sales through 40 years and aims to double that in the next eight years.

Uber on Tuesday completed 10 years in the country.