#Mahindra SUV Sales

[dailynewztimes]

25 km का दमदार माइलेज और 8.34 लाख की कीमत के साथ Maruti Brezza बनी भारत की Best Selling SUV

देश में कॉम्पैक्ट एसयूवी का बाजार तेजी से बढ़ रहा है, और इसका सबसे बड़ा उदाहरण है Maruti Brezza Best Selling SUV बनना। मारुति सुजुकी की इस एसयूवी ने अगस्त 2024 में धमाकेदार प्रदर्शन किया और बिक्री के मामले में सभी को पीछे छोड़ दिया। तो चलिए जानते हैं कैसे Maruti Brezza Sales August 2024 में टॉप पर पहुंची और इसका मुकाबला किन-किन एसयूवी से है। Maruti Brezza Best Selling SUV Maruti Brezza ने कैसे…

[apcseo]

Mahindra & Mahindra’s EV Unit Seeks Investment Opportunities in India to Accelerate Growth

Mahindra & Mahindra, a prominent sports utility vehicle manufacturer, is reportedly in advanced discussions with British International Investment (BII) and other global investors to secure a substantial investment of up to ₹5,000 crore for its electric vehicles (EV) subsidiary. This new funding round is expected to value the EV unit at a higher valuation than the previous round, reflecting the growing interest in the Indian electric vehicle market. The investment aims to support Mahindra’s ambitious plans for expansion and the development of sustainable mobility solutions.

India’s electric vehicle market has been witnessing significant growth in recent years, driven by increasing environmental concerns, government initiatives, and evolving consumer preferences. As a result, established automakers like Mahindra & Mahindra are actively seeking investment opportunities in India to capitalise on this emerging market and accelerate their growth in the EV segment.

India has set an ambitious target to transition to electric mobility, aiming for 30% electric vehicle penetration in the country by 2030. The government has implemented various policies and incentives to encourage the adoption of electric vehicles, including subsidies, tax benefits, and the establishment of charging infrastructure. These measures have created a favourable environment for investors and manufacturers to participate in the Indian electric vehicle ecosystem.

To align with India’s electric mobility vision, Mahindra & Mahindra’s EV unit has outlined an aggressive expansion strategy. The company intends to launch five new electric vehicle models between April and October 2025, demonstrating its commitment to providing sustainable transportation solutions to Indian consumers.

By incorporating electric SUVs into its product portfolio, Mahindra aims to capture a significant market share in the fast-growing electric SUV segment. It anticipates that e-SUVs will account for 20-30% of its overall SUV sales, with sales volumes projected to reach around 200,000 units. This focus on electric SUVs aligns with the evolving preferences of Indian consumers, who seek both sustainability and performance in their vehicles.

Investment opportunities in the Indian electric vehicle market hold immense potential for both domestic and international investors. The sector offers an attractive landscape for investment due to the following factors:

Growth Potential: With the Indian government’s strong commitment to electric mobility, the EV market is poised for substantial growth. Increasing consumer demand, supportive policies, and infrastructure development create a favourable investment climate.

Technological Advancements: Investment in electric vehicles drives innovation in battery technology, charging infrastructure, and connected features. These advancements contribute to the overall development of the sector and create opportunities for investors to benefit from emerging technologies.

Environmental Considerations: Electric vehicles play a crucial role in reducing greenhouse gas emissions and combating air pollution. Investing in electric mobility aligns with global sustainability goals, making it an appealing choice for socially responsible investors.

Job Creation and Economic Growth: The growth of the electric vehicle industry stimulates employment opportunities across the value chain, including manufacturing, R&D, charging infrastructure, and support services. This fosters economic development and contributes to the overall growth of the Indian economy.

Mahindra & Mahindra’s pursuit of significant investment for its EV unit reflects the immense potential and investment opportunities in India’s electric vehicle market. As the demand for sustainable transportation solutions continues to rise, the sector offers a promising landscape for investors seeking long-term growth and environmental impact. With government support, technological advancements, and changing consumer preferences, investing in electric mobility can contribute to both economic development and a greener future for India.

This post was originally published on: Apppl Combine

[mediahousepressin]

Mahindra & Mahindra Reports Impressive Sales Growth in October 2024, Driven by Strong SUV and Tractor Demand

[bhaskarlive]

Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc

Leading domestic automobile manufacturer Mahindra & Mahindra Ltd on Friday said that its overall auto sales for the month of September stood at 96,648 vehicles, including exports, which is a 20 per cent year-on-year growth.

Source: bhaskarlive.in

[bpautospares]

How to Buy Genuine Mahindra Spare Parts at Affordable Prices

When it comes to maintaining your Mahindra vehicle, using genuine spare parts is crucial. Whether you own a Mahindra truck, Scorpio, Bolero, or XUV, the quality of spare parts directly impacts the performance, safety, and longevity of your vehicle. However, many vehicle owners struggle with finding affordable yet genuine Mahindra spare parts. In this article, we will guide you on how to buy authentic Mahindra parts at the best prices, covering key components for Mahindra Truck Parts, Mahindra Scorpio Parts, Mahindra Bolero Parts, and Mahindra XUV Spare Parts.

1. Why Choose Genuine Mahindra Spare Parts?

Genuine Mahindra spare parts are specifically designed for your vehicle and meet the manufacturer's quality standards. Using non-genuine parts may compromise your vehicle’s safety and performance. Here are some key reasons to invest in original parts:

Longevity: Genuine parts are built to last longer than aftermarket alternatives.

Perfect Fit: Original Mahindra parts ensure a proper fit, reducing the risk of malfunction or damage.

Warranty: Genuine parts often come with a warranty, giving you peace of mind.

Performance: These parts are tested for optimal performance, ensuring your vehicle runs smoothly.

2. Finding Affordable Mahindra Truck Parts

Mahindra trucks are known for their durability and strength, making them a popular choice for commercial use. Regular maintenance with genuine Mahindra Truck Parts is essential for ensuring long-term efficiency.

Tip: Search for authorized Mahindra dealers online who offer discounts or promotions on truck parts. Also, check bulk buying options to get better rates if you need multiple parts.

3. Affordable Mahindra Scorpio Parts: Keeping Your SUV in Top Condition

The Mahindra Scorpio is a well-loved SUV known for its powerful performance and rugged design. To keep your Scorpio in top condition, you need to ensure that only genuine Mahindra Scorpio Parts are used for repairs and replacements.

Tip: Look for online platforms that specialize in Mahindra spare parts and compare prices before purchasing. Some websites, like bpautosparesindia.com, offer competitive pricing on Scorpio parts with authenticity guaranteed.

4. How to Buy Genuine Mahindra Bolero Parts on a Budget

The Mahindra Bolero is a workhorse SUV, popular in both urban and rural areas. Genuine Mahindra Bolero Parts are crucial to maintaining its resilience and reliability. However, sourcing authentic parts without breaking the bank can be challenging.

Tip: Consider buying from reputed spare part suppliers who offer seasonal sales. Also, don’t shy away from negotiating with local dealers for better prices on genuine parts.

Read also: Checklist to Buy the Best Mahindra Spare Parts Online!

5. Getting the Best Deals on Mahindra XUV Spare Parts

The Mahindra XUV series, known for its advanced features and premium build, requires regular maintenance with authentic parts to preserve its quality. Whether it's brake pads, filters, or engine components, genuine Mahindra XUV Spare Parts ensure that your SUV remains in peak condition.

Tip: Join online forums and social media groups dedicated to Mahindra XUV owners. Many users share insights on where to get the best deals for spare parts. Additionally, explore e-commerce websites that offer discounts on Mahindra XUV parts.

6. How to Verify the Authenticity of Mahindra Spare Parts

One of the biggest challenges vehicle owners face is ensuring that the parts they purchase are genuine. Here are a few ways to verify authenticity:

Check Packaging: Genuine Mahindra parts come with official branding, including the company’s logo, holograms, and part numbers.

Dealer Verification: Always buy from authorized Mahindra dealers or reputed online platforms like bpautosparesindia.com.

Serial Numbers: Each genuine spare part has a unique serial number. Check this number on the Mahindra website or with the dealer to confirm authenticity.

Warranty: Ensure the part comes with an official Mahindra warranty, as fake parts usually don’t offer this.

7. Where to Buy Mahindra Spare Parts at Affordable Prices?

Here are some tips to find the best deals:

Compare Prices: Before making a purchase, compare prices from different sources, including local dealers, online retailers, and authorized distributors.

Shop Online: E-commerce platforms often offer better prices than physical stores, thanks to lower overhead costs. Websites like bpautosparesindia.com provide competitive pricing and a wide range of genuine Mahindra spare parts.

Look for Discounts: Keep an eye out for seasonal discounts, festive sales, or clearance sales, which can help you save on authentic spare parts.

Buy in Bulk: If you own multiple Mahindra vehicles, buying spare parts in bulk from a trusted supplier can reduce overall costs.

Conclusion Maintaining your Mahindra vehicle with genuine spare parts is essential for its longevity and performance. Whether you're looking for Mahindra Truck Parts, Mahindra Scorpio Parts, Mahindra Bolero Parts, or Mahindra XUV Spare Parts, the key is to purchase from reliable sources at affordable prices. By following the tips outlined above and sourcing parts from trusted platforms like bpautosparesindia.com, you can ensure that your vehicle gets the best care without overspending.

[news-venue]

2024 Hyundai Alcazar Launched In India At ₹ 14.99 Lakh: Price, Specs, Features

Hyundai India has launched an updated avatar of its 7-seater SUV - Alcazar. The Creta-based 3-row SUV was long due for a mid-cycle refresh. The 2024 Hyundai Alcazar facelift is launched at a special introductory starting price of ₹ 14.99 lakh for petrol variants and ₹ 15.99 lakh for diesel variants. It will continue to take on its existing set of rivals - Tata Safari, Mahindra XUV700, MG Hector, Citroen C3 Aircross, Kia Carens and more. In the last few months, the Alcazar has been a dull seller. The update, however, is expected to add some more numbers to the SUV's monthly sales tally.

The 2024 Hyundai Alcazar isn't just a stretched-out Creta, in terms of its looks. It opts for a bold-looking design theme, comprising of a rather butch-looking front facet with H-shaped connected LED DRLs, a large radiator grille, and a wide scuff plate.

Around the sides, the big change is the addition of new 18-inch diamond-cut alloy wheels, bigger rear quarter windows, black-painted cladding, and bridge-type roof rails. The rear face of the Alcazar is also heavily tweaked with the use of a new spoiler, a reworked bumper, and a fresh design for the skid plate. It also gets connected LED taillamps with sequential turn indicators.

As for the dimensions, the Alcazar is 4,560 mm in length, 1,800 mm wide, and 1,710 mm tall. In comparison to the outgoing model, the 2024 Alcazar is 60 mm longer, 10 mm wider, and 35 mm taller. The wheelbase remains unaltered at 2,760 mm.

On the inside, the big change on the 2024 Hyundai Alcazar is a new dashboard layout, which is borrowed from the facelifted Creta. The cabin is now upholstered in new shades - noble brown and haze navy. The dual-tone treatment gives a premium appeal to the overall cabin.

Besides, the 6-seater variant now features ventilated second-row seats with folding armrests, which improve the accessibility to the third-row. Unique thigh extenders are a key highlight of the Alcazar's interior.

The bold new Hyundai Alcazar will be offered in 9 colours with 8 mono-tone options including the new Robust Emerald Matte, Titan Grey Matte, Robust Emerald, Starry Night, Ranger Khakhi, Fiery Red, Abyss Black, Atlas White, and 1 dual-tone colour option available in Atlas White with Black Roof.

[autocarindianews]

Fuel Efficiency and Environmental Impact of the XUV700

The Mahindra XUV 700 has gained significant attention in India for its impressive blend of performance, luxury, and advanced features. Among its key attributes is its focus on fuel efficiency and environmental impact, making it a sensible choice for eco-conscious buyers.

Fuel Efficiency

The XUV 700 is engineered to deliver commendable fuel efficiency, which is a crucial factor for Indian consumers. The SUV offers a variety of engine options, including a 2.0-liter turbocharged petrol engine and a 2.2-liter turbocharged diesel engine. Both engines are designed with advanced fuel injection systems and turbocharging technology to maximize fuel economy without compromising on performance. The petrol variant boasts an efficiency of approximately 12-14 km/l, while the diesel variant offers around 15-18 km/l, making the XUV 700 a competitive option in its segment.

Environmental Impact:

Mahindra has taken significant strides to ensure the XUV 700 in India  is environmentally friendly. The engines comply with BS6 emission norms, which are the latest and most stringent in India, reducing harmful emissions significantly. The diesel variant, in particular, is equipped with a Selective Catalytic Reduction (SCR) system and a Diesel Particulate Filter (DPF), which help minimize nitrogen oxide and particulate emissions. Additionally, Mahindra’s commitment to sustainability is reflected in the use of eco-friendly materials in the XUV 700's construction and interiors.

XUV 700 Prices and Availability:

The XUV 700 price in India, making it accessible to a broad range of buyers. XUV 700 prices start at around INR 12.49 lakh for the base model and can go up to INR 22.99 lakh for the top-end variant, depending on the features and specifications. With numerous XUV 700 for sale across Mahindra dealerships in India, prospective buyers have ample opportunities to explore and purchase this eco-friendly SUV.

The Mahindra XUV 700 stands out not only for its fuel efficiency and reduced environmental impact but also for its competitive pricing and availability. This makes it a compelling choice for consumers seeking a balance of performance, sustainability, and value.

[optionperks]

Maruti Suzuki Q1 results: PAT up 47% to Rs 3,650 cr on high demand of SUVs

Maruti Suzuki, India's top carmaker by sales, posted first-quarter profit above market expectations on Wednesday, helped by increasing demand for its sport utility vehicles (SUV), which sent its shares up 3.9 per cent.

The 'Brezza' SUV manufacturer's standalone profit for the April-June quarter grew 47per cent to Rs 3,650 cr ($436 million), topping analysts' estimates of Rs 3,320 cr, per LSEG data. Maruti is one of the first carmakers in India to report results in a quarter where car sales have hit a two-year low as India's general elections and extreme heat hurt demand. The company's sales also grew at their slowest pace in nine quarters. Still, Maruti reported a 29 per cent rise in SUV sales, enough to boost revenue by 9.8 per cent to Rs 33,875 cr.

The share of SUV sales in Maruti's overall sales grew to 31 per cent from 25 per cent a year ago, making it the company's second-biggest segment after compact cars.

Rival Mahindra & Mahindra, which also makes SUVs, posted a bigger adjusted profit earlier in the day.

optionstrategybuilder

[motordrive2024]

Mahindra Thar 5-door Images Leaked Online Ahead Of August 15 Debut

The Mahindra Thar 5-door is the next major launch from the Indian automaker. The SUV has been spotted in heavy camouflage multiple times, and recently, new undisguised images of the Thar 5-door have surfaced on the internet, revealing its fascia and side of the SUV for the first time. The extended version of the Thar will make its debut this Independence Day, i.e., on August 15, 2024.

The first noticeable change on the Thar 5-door compared to its 3-door version is the new six-slat grille, divided into two parts. Another new feature is the headlights, which, unlike those on the regular Thar, appear to be LED projector setups and also integrate circular LED DRLs. The positioning of the indicator and fog lamps, however, remains the same as that on the 3-door version of the Thar. We also got a glimpse of the newly designed alloy wheels on the extended Thar, which have also been spotted earlier.

From the profile, the Thar 5-door retains the same boxy design as the regular Thar, however it now looks bigger due to addition of two-doors which have increased its wheelbase. It gets C-pillar-mounted rear door handles, and in the image, the ORVM on the Thar 5-door can be seen with a camera, confirming it will feature a 360-degree setup. Additionally, the interior reveals a panoramic sunroof fitted into the roof, with seats covered in beige upholstery.

The Mahindra Thar 5-door is expected to go on sale shortly after its debut on August 15, 2024. Mahindra could price it from Rs 15 lakh (ex-showroom).

[shivamsharma010]

Upcoming Tata Nexon with Panoramic Sunroof Set to Rival XUV 3XO

Tata Motors plans to challenge the Mahindra XUV 3XO in the sub-4-meter SUV segment with a revamped Nexon, featuring a panoramic sunroof.

Tata Motors is gearing up to challenge its competition in the sub-4-meter SUV segment, especially the new Mahindra XUV 3XO, which comes equipped with several first-in-segment features. In light of the recent slump in Nexon's sales figures during March and April, the automaker is focusing on giving the Tata Nexon an overhaul with new features, possibly to lure potential customers.

[phonemantra-blog]

The Indian car market, particularly the SUV segment, continues to witness impressive growth. In April 2024, mid-size SUV sales figures reveal a strong performance, with some interesting trends emerging. This analysis delves deep into the data, exploring the top contenders, surprising dips, and overall market dynamics. Mid-Size SUV Sales Mahindra Dominates Mid-Size SUV Segment Mahindra emerged as the undisputed king of the mid-size SUV segment in April 2024. Let's break down their winning strategy: Mahindra Scorpio Reigns Supreme: With a staggering figure of nearly 15,000 units sold, the Mahindra Scorpio leads the pack by a significant margin. This dominance can be attributed to a combination of factors, including the vehicle's robust build, powerful engine options, and competitive pricing. It's important to note that this figure encompasses sales of both the Mahindra Scorpio N and Mahindra Scorpio Classic variants. Mahindra XUV700 Follows Closely: Following the Scorpio's lead is its younger sibling, the Mahindra XUV700. Despite clocking sales figures less than half of the Scorpio, the XUV700 still commands a respectable market share of close to 22%. Mahindra managed to ship over 6,000 units of the XUV700 in April, solidifying its position as a strong contender in the premium mid-size SUV space. Shifting Sands in the Mid-Size Segment While Mahindra reigns supreme, other established players in the market experienced mixed results: MG Hector Edges Out Tata SUVs: An interesting development comes from the mid-table battle between the MG Hector, Tata Harrier, and Tata Safari. Both Tata SUVs witnessed a decline in month-on-month (MoM) sales. The MG Hector, on the other hand, managed to sell over 1,800 units in April, inching ahead of the Tata Harrier and outperforming the Tata Safari by a slight margin. Hyundai and Jeep Face Sales Slumps: Hyundai's Alcazar witnessed a significant MoM decline of over 14%, with sales dropping from 1,400 units in March to a little over 1,200 units in April. Similarly, Jeep Compass also experienced a sales dip of over 14% MoM, shipping close to 300 units in April. Key Takeaways and Market Trends The April 2024 mid-size SUV sales data offers valuable insights into the current Indian car market landscape: Mahindra's Strong Showing: Mahindra's dominance in the mid-size SUV segment is undeniable. Their strategic combination of powerful engines, rugged build quality, and competitive pricing resonates well with Indian car buyers. Competition Heats Up: While Mahindra leads the pack, the mid-size SUV segment is far from a one-horse race. MG Hector's growing popularity and established players like Tata Motors and Hyundai are constantly innovating and refining their offerings to stay competitive. Consumer Preferences Evolve: The MoM sales decline for some models like the Hyundai Alcazar and Jeep Compass suggests that consumer preferences are constantly evolving. Manufacturers need to stay agile and adapt their offerings to meet these changing demands. FAQs Q: What factors contributed to Mahindra's strong performance in the mid-size SUV segment? A: Mahindra's success can be attributed to a combination of factors, including the robust build quality and powerful engines of their vehicles, along with competitive pricing strategies. Q: Which mid-size SUV segment witnessed the most significant MoM sales decline? A: The Hyundai Alcazar witnessed the most significant MoM sales decline in April 2024, dropping over 14% compared to March 2024 figures. Q: What are some upcoming mid-size SUV launches expected in India? A: Several manufacturers are expected to launch new or updated mid-size SUVs in the coming months. Stay tuned for further updates on these exciting developments.

[amitsharma417]

BEST CAR IN 10 TO 15 LACS WITH AMT AND SUNROOF

If you're looking for a car with a sunroof and automatic transmission in the price range of 10 to 15 lakhs, here are some options to consider:

Hyundai i20: The Hyundai i20 offers a premium design, spacious interior, and a range of features including a sunroof and automatic transmission. It provides a smooth and refined driving experience with good fuel efficiency.

Honda City: The Honda City is a popular choice in the mid-size sedan segment, known for its comfort, reliability, and premium features. It comes with a sunroof and automatic transmission option, along with a spacious cabin and efficient engines.

Volkswagen Vento: The Volkswagen Vento is a well-built sedan with a range of features including a sunroof and automatic transmission. It offers a comfortable ride, precise handling, and a solid build quality.

Skoda Rapid: The Skoda Rapid combines European styling with a spacious and well-appointed interior. It comes with a sunroof and automatic transmission option, along with a range of safety features and efficient engines.

Tata Nexon: The Tata Nexon is a compact SUV known for its robust build quality, modern design, and feature-packed cabin. It offers a sunroof and automatic transmission option, along with good ride quality and handling.

Mahindra XUV300: The Mahindra XUV300 is a compact SUV with a strong feature set, including a sunroof and automatic transmission. It offers a spacious and well-equipped interior, along with strong safety credentials.

Kia Sonet: The Kia Sonet is a stylish and feature-packed subcompact SUV that comes with a sunroof and automatic transmission option. It offers a range of engine choices, including turbocharged petrol and diesel variants, along with a modern and well-equipped cabin.

Before making a decision, it's essential to test drive these cars, evaluate their features, comfort, performance, and overall value for money. Consider factors such as maintenance costs, resale value, and after-sales service support as well.

[blueweave]

 India used car loan market size at USD 7.72 billion in 2021. And BlueWeave expects India used car loan market size to grow at a CAGR of 12.1% during the forecast period (2021–2028), reaching the value of USD 17.2 billion by 2028.In India, the second hand automobile market has been gaining traction in recent years. The ratio of used to new cars is currently approximately 1.3 in the country. The expansion of the organized and semi-organized sectors can be ascribed to the evolution of the country's used automobiles market. In addition, the reduction in the GST rate on used cars from 28% to 12–18% is driving the market. As the Indian auto industry transitions to BS-VI in April 2020, the value proposition of a used automobile is expected to improve, as new cars are expected to become more expensive due to increased technology expenditures. Major automobile manufacturers are also steadily focusing on reducing diesel car production.

India Used Car Loan Market - Technology Advancements

Unless there is a backlash against diesel automobiles, it is also expected to raise demand for compact diesel cars in the used car market (because of their higher mileage estimates). Mahindra First Choice Wheels Limited invested in CarandBike.com, a renowned Indian automobile website, in January 2020. Cars24 concluded a series D equity financing of roughly USD 100 million in October 2019 from new and existing investors. Maruti Suzuki India relaunched its True Value brand in February 2019 with a new identity and incentives. OLX has been a market leader in this area. In 2019, OLX partnered with the Frontier Group to open used automobile dealerships on the ground (Cash my Car). Cash my Car locations are now available in ten cities. OLX intended to further expand its. Over the forecast period, major players’ plan to develop offline outlets is expected to grow the market for unorganized used car sales.

Rising Demand for Pre-Owned Cars

The Indian pre-owned car market is expanding as demand for premium vehicles continues to rise. The sales of second hand premium cars have increased by 20%. The market's expected expansion can be linked to rising disposable income and an increase in the number of people who buy used cars. Used car loans are available for a variety of automobiles, including hatchbacks, SUVs, and premium sedans. They are dominating the used car loan market by giving loans up to 95% of the used car value, flexible EMI repayment options, swift loan disbursement, flexible tenure, and low paperwork.

With easier access to financing alternatives, annual maintenance contracts, and cheaper entry pricing, the India Used Car Loan industry is becoming more organized.

Request for Sample Report @ https://www.blueweaveconsulting.com/report/india-used-car-loan-market/report-sample

[edrupt1]

Lumax Industries Q3FY24: Illuminating the Road to Strong Capex-Led Growth

Sector Outlook – Positive

In the third quarter of FY24, Lumax Industries Ltd. (LIL) performed better than expected, with revenue reaching Rs. 640 crores, up 9% from the previous year. This growth was driven by the recovery in the two-wheeler segment and sustained demand from the passenger vehicle segment, especially SUVs. 

However, the EBITDA margin contracted to 9.22% due to the commissioning of a new plant in Pune and higher staff costs. Despite this, the company remains optimistic about revenue growth, particularly from the new Chakan plant and increased revenue share from key customers like Maruti Suzuki, Mahindra & Mahindra, and Tata Motors. 

LIL is also focusing on increasing its LED revenue share, which has grown from 25% to 35% over the last five years, with plans to further increase it to 50%.

Concall Highlights

The interim budget allocated Rs. 3,500 crore for promoting the EV industry, boosting hopes for its growth.

The two-wheeler segment is growing steadily, driven by rural demand, but commercial vehicles are struggling.

Challenges in the tractor segment persist due to delayed monsoons.

There is optimism for the passenger vehicle and two-wheeler sectors, with a strong outlook and increasing EV adoption.

LED lighting contributed 36% of total revenue, while conventional lighting made up 64%.

Front lighting accounted for 66% of total revenue, rear lighting 25%, and other products 9%.

The passenger vehicle segment contributed 67% to total revenues, two-wheelers 27%, and commercial vehicles 6%.

The Chakan plant in Maharashtra began producing automotive lighting in November 2023, focusing on new business from M&M and Tata Motors.

Revenue growth in Q3FY24 was limited (Rs. 20 crores) due to fewer working days, but Q4FY24 is expected to improve, targeting a monthly revenue of Rs. 30 crores.

Phase-1 of the plant is expected to reach 70-75% utilisation by the end of Q4FY24, with Phase-2 expansion starting soon for full commercialization by FY26.

The current order book is worth Rs. 2,200 crores, with 64% from new business and EVs accounting for 34% of this.

LED lighting orders make up 85%, with around 70% expected to start production in FY25, leading to significant revenue growth from FY26.

FY24 revenue guidance expects 15% growth (Rs. 2,600 crores) with margins exceeding 9.3-9.5%.

FY25E is poised for stronger double-digit growth, estimated at ~20%, with margins expected to reach at least 10%.

After Phase-1 and Phase-2 expansions at the Chakan plant, peak revenues are projected to reach Rs. 900 crores.

The expansion will increase capacity by 30%, leading to a 50% boost in revenue, with Phase-2 starting operations in Q3FY25.

Lumax secured orders for Maruti’s first EV model, expected by year-end, and is in talks for a potential second model in FY26.

Financially, capex for FY24 is expected to reach around Rs. 280 crores, with an ETR of 31% and net debt of Rs. 560 crores for the first nine months of FY24.

Valuation and Outlook

In the third quarter of FY24, Lumax Industries Ltd. showed impressive growth with a 9% increase in revenue compared to the previous year. This growth was mainly driven by higher sales in the 2W segment and steady demand in the PV segment, especially for SUVs. Looking forward, the company expects this positive trend to continue, supported by increased 2W sales, a rise in electric vehicle (EV) adoption, advancements in driving technology, and changing trends in automotive lighting design. 

The management anticipates significant industry expansion after the second half of FY25, despite possible capacity constraints. Operational efficiencies and better raw material consumption led to improved gross margins, with further enhancements expected as new plants become operational. Lumax is focusing on cost reduction measures like part localization and in-house manufacturing to boost margins. 

Phase 1 of the new plant is expected to be 70-75% utilized by Q4FY24, paving the way for Phase 2 expansion by Q3FY25. The company is also working on reclaiming lost market share and expanding its client base, especially in the EV segment. Lumax’s strong relationships with OEMs, coupled with its strategies for margin improvement and client diversification, are expected to drive significant revenue growth from FY25 onwards.

[martin-cambell]

Do You Know About These 5 Famous Electric Car Brands

In an era where sustainability takes precedence, the automotive industry is witnessing a remarkable shift towards electric vehicles (EVs). These eco-conscious alternatives are not just changing the way we commute but are also transforming the landscape of the automobile market. Let's delve into the stories behind five electric car brands that are at the forefront of this revolution, reshaping India's automotive future.

MG: Driving Innovation with Heritage Originating in the UK in 1924, MG has a rich history steeped in automotive excellence and racing pedigree. Now, under the wing of SAIC Motor Corporation Limited, MG has made significant strides in India, crafting an unparalleled automotive experience with offerings like the stylish and sustainable MG Comet EV.

Hyundai: Pioneering Technology and Luxury Hyundai, a global leader in the automobile sector, has been instrumental in introducing groundbreaking technologies like the IONIQ 5. This award-winning electric SUV combines futuristic design with exceptional performance, setting new benchmarks in the Indian market.

Tata Motors: Spearheading Electric Mobility With a legacy dating back to 1868, Tata Motors has emerged as a dominant force in India's electric vehicle segment. The Tata Nexon EV Max, with its cutting-edge technology and impressive sales figures, reflects Tata's commitment to sustainability and innovation.

Mahindra Group: Championing the Electric Revolution Mahindra's ambitious "Born Electric" vision signifies its commitment to leading the electric revolution. The Mahindra XUV400 EV, with its intelligent ecosystem and exceptional performance, exemplifies Mahindra's dedication to shaping the future of electric mobility in India.

KIA: Redefining Eco-Friendly Innovation KIA, with its state-of-the-art manufacturing facility in Andhra Pradesh, has been revolutionizing the Indian automobile industry with dynamic designs and eco-friendly innovations like the Kia EV6. This all-electric crossover SUV combines cutting-edge technology with remarkable efficiency, paving the way for a greener future.

In conclusion, these pioneering electric car brands—MG, Hyundai, Tata Motors, Mahindra Group, and KIA—are not just manufacturers; they are visionaries shaping India's automotive future. With their relentless pursuit of innovation, sustainability, and excellence, they are leading the charge towards a cleaner, more electrifying tomorrow.

To read more, click here.