The new Dodge Charger Daytona is here. It’s one hundred pc electrical but it surely’s under no circumstances a quiet automobile. It makes use of what Dodge calls a Fratzonic Chambered Exhaust system to offer the Charger a muscle automobile rumble. But what precisely does that imply? And extra importantly, what does it sound like?
The Charger Daytonas offered to media throughout Dodge’s press occasion had been stored silent, and whereas the official launch video consists of some sound clips, they are not consultant of the ultimate product. That’s as a result of Dodge continues to be attempting to resolve precisely what its new electrical Charger ought to sound like.
“We’ve changed it 100 times,” CEO Tim Kuniskis confessed to reporters. He mentioned the talk was nonetheless raging at Dodge as they consider all types of various sounds. But he emphasised it is going to be loud – as loud as an outgoing Charger Hellcat. And it will not merely come from audio system pointed on the floor.
That’s the place the Fratzonic Chambered Exhaust is available in. Obviously it entails audio system, as electrical motors do not make combustion-engine noises. But the audio system are put in in an exhaust-like chamber particularly designed to make noise, or extra particularly, form it. The actual design of the chamber is one thing Dodge hasn’t shared. But the mix of audio system and the chamber will give the Charger Daytona a slice of old-school Detroit V-8 angle. Or at the very least, that is what Dodge is hoping for.
Thus far, reactions to earlier pattern sounds have been blended. When the Charger Daytona SRT EV concept first debuted, it featured a high-pitched sound that bore a placing resemblance to The Wraith – a Eighties B-movie that includes a younger Charlie Sheen driving the “supernatural” Dodge M4S idea automobile. Another soundbite was launched a number of months later, revealing a deeper tone extra like a V-8, however nonetheless clearly synthetic.
The enduring bond between Americans and their automobiles is exemplified by the three.5 p.c surge in car registrations from 2018 to 2022.
The common annual price of proudly owning a brand new car in 2023 elevated considerably, sparking theories on attributing the rise.
Rising prices of restore are linked to car complexity, heavier parts, the altering dynamics of collisions, and supplies used.
In American tradition, few symbols maintain as a lot significance and delight as automobile possession. It’s ingrained within the cloth of society, reflecting not simply private freedom and mobility, but additionally standing and identification. The most up-to-date information on automobile possession within the United States reaffirms this enduring affection for vehicles.
Between the years 2018 and 2022, there was a notable surge in both personal and commercial vehicle registrations, indicative of a sturdy pattern in automobile possession throughout the nation. This enhance, amounting to three.5 p.c over the course of 4 years, transcends mere statistical evaluation; it stands as a tangible manifestation of the enduring bond between Americans and their wheels.
According to a report from the American Automobile Association, the average annual cost of owning and operating a new vehicle in 2023 saw a significant increase in comparison with earlier years. Various theories have been proposed to elucidate this rise, starting from attributing it to the nation’s financial woes to putting blame on automakers who’re producing more and more advanced and unnecessarily costly automobiles. With that, let’s discover the intricacies of the price of automobile possession in 2024 and discover how every variable influences the ultimate worth.
In order to provide the most recent and correct info attainable, the info used to compile this text was sourced from varied producer web sites and different authoritative sources, together with the American Automobile Association.
Be it a brand new automobile or a used mannequin, here is how strategically timing your buy round particular intervals of the 12 months, may also help you land the perfect offers
Beyond Car Payments, Additional Expenses Push The Annual Costs Of Car Ownership To A Little Over $12,000
When purchasing a new car,the preliminary consideration typically revolves across the price ticket (understandably so, because it serves as the first determinant of feasibility for a lot of potential patrons). The worth of the automobile stands as essentially the most substantial price you would possibly encounter within the course of of shopping for a automobile, setting the stage for subsequent month-to-month funds that should be managed diligently.
However, past merely being a determine on a sticker, the entire worth of a car encompasses a mess of things and issues. This ranges from the bottom price of the car itself to different extra bills resembling taxes, registration charges, and insurance coverage premiums. In the tip, the whole monetary dedication might be far more important.
Furthermore, non-compulsory add-ons and upgrades might additional affect the ultimate worth, providing customization but additionally probably rising the general expenditure.
Annual Report From The American Automobile Association Reveals Current Ownership Costs
Month after month, the costs of recent automobiles appear to be getting increased and better. This pattern is kind of evident within the findings of the American Automobile Association’s “Your Driving Costs” annual research, highlighting a substantial surge within the common price of proudly owning a brand new car.
Inside AAA’s Cost Calculation Method: Exploring the Methodology
The American Automobile Association (AAA) makes use of a proprietary methodology to evaluate the possession and operational prices of recent automobiles within the United States. This course of includes analyzing the 5 top-selling fashions inside every of the 9 car classes to find out possession bills throughout varied areas. These particular person prices are then amalgamated and averaged in order to obtain the true cost of owning a new car.
To conduct this evaluation, the group gathers information from various sources and applies standardized standards to venture bills related to the usage of a brand new car over a five-year possession interval spanning 75,000 miles. While these standardized standards guarantee uniformity in evaluating totally different car varieties, it is essential to notice that precise prices might range primarily based on elements resembling driving patterns, location, and working circumstances.
The prices related to every class, outlined under, symbolize the beforehand talked about common calculated over a five-year interval spanning 75,000 miles.
Cost
Description
Depreciation
$4,538 loss in worth/12 months
Based on the distinction between new-vehicle buy worth and estimated trade-in worth on the finish of 5 years and 75,000 miles.
Finance
$1,253/12 months
Based on a 5-year mortgage, with 10 p.c down, on the nationwide common rate of interest. Includes taxes and the primary 12 months’s license charges (nationwide common).
Fuel
15.93¢/mile
Based on common costs for a 12-month interval ending 5/23. During this time, regular-grade fuel averaged $3.999/gallon. Electric car charging prices are primarily based on a price of 15.8 cents/kilowatt-hour (a rise of practically 2 cents/kilowatt-hour).
Insurance
$1,765/12 months
Based on a full protection coverage for private use of a car by a driver who’s underneath 65 years of age, has greater than 6 years of driving expertise, has no accidents, and lives within the suburbs or metropolis.
License, Registration and Taxes
$762/12 months
Includes all authorities taxes and costs payable on the time of buy, in addition to annual charges to maintain the car licensed and registered (nationwide common).
Maintenance, Repair, and Tires
9.83¢/mile
Includes retail elements and labor for routine upkeep specified by the car producer, a complete prolonged guarantee, repairs to wear-and-tear gadgets that require service throughout 5 years of operation, and one set of substitute tires.
(Data sourced from AAA)
Although depreciation isn’t a fee that has you shelling out money, automobiles often do lose worth over time. This means you’re shedding cash over time, and it impacts your whole price of possession. In a traditional market, automobiles lose round 15 to twenty p.c of their worth of their first 12 months. Over every of the subsequent 4 years, depreciation will likely be round 15 p.c per 12 months.
Despite what advertisers and automobile sellers inform you, here is why proudly owning a luxurious automobile might not be for everybody
Common Costs Of Owning A Car
Jody Only / TopSpeed
This important escalation in prices might be attributed to an array of things which have significantly influenced the automotive sector up to now few years.
In The Past Year, There Has Been A 4.7 Percent Rise In The MSRP
One of the important thing drivers behind this surge in bills is the notable enhance within the common producer’s instructed retail worth (MSRP) of recent automobiles. According to the 2023 YDC research, the MSRP has risen to $34,876, marking a 4.7 p.c enhance in comparison with the earlier 12 months, which interprets to a considerable uptick of $1,575.
It’s essential to notice that the MSRP would not essentially align with the precise buy worth, as it will probably fluctuate primarily based on demand and market dynamics. Nevertheless, the next MSRP immediately impacts finance prices, with the typical annual finance cost for this 12 months’s automobiles standing at $1,253. This huge quantity signifies a outstanding 90 p.c surge from the earlier 12 months’s figures.
Essential Factors That Influence Auto Ownership Costs
Furthermore, we should take note of the next variables when discussing the true price of proudly owning a automobile:
Fuel: Since gas costs fluctuate practically on daily basis, gas bills rank among the many most variable prices related to automobile possession. According to the AAA, in 2023, the average driver spent approximately 15.93 cents per mile on common unleaded fuel. For a typical 15,000-mile 12 months, this quantities to an annual expenditure of $2,390 solely on gas. It’s price noting that gas prices can range relying on elements resembling the sort and measurement of the car. Additionally, the AAA calculates electrical car charging prices at a price of 15.8 cents per kilowatt-hour.
Insurance: Nearly each state mandates some stage of auto insurance coverage protection. According to AAA, the common annual premium for full-coverage insurance coverage is $1,765. However, insurance coverage prices are influenced by varied elements together with the kind of protection chosen, the car’s make and mannequin, the driving force’s age and driving historical past, in addition to their geographical location.
Registration, feed, and taxes: The AAA signifies that the common automobile proprietor incurs roughly $762 in licensing, registration, and tax charges to legally function their car. The calculation, frequency, and quantity of those charges can range considerably from state to state, relying on native rules and necessities.
Maintenance and repairs: The common price of repairs, upkeep, and tires for a brand new automobile is estimated to be round $123 monthly, as reported by AAA. Routine upkeep duties like oil adjustments and tire rotations are sometimes really useful each 5,000 miles. It’s essential to think about that sure upkeep prices could also be coated by producer warranties, which usually final for 3 years or 36,000 miles, whichever comes first.
Affecting 67 million automobiles throughout dozens of manufacturers, here is how the Takata airbag recall impacted the business and the way forward for automotive security
Since 2022, The Annual Rate Of Increase In Repair Costs Also Saw An Uptick
Porsche
The price of repairs has been rising compared to the general price of inflation from November 2013 to November 2023.
Motor car upkeep and repairs have skilled an annual enhance of 4.1 p.c, amounting to an total change of 49.8 p.c. In distinction, all gadgets within the Consumer Price Index noticed an annual enhance of two.8 p.c, leading to an total change of 31.7 p.c. This upward pattern has been notably pronounced because the finish of the pandemic.
However, since mid-2021, this price has surged. In 2022, the rise spiked to roughly 10 p.c, a determine that appears to have stabilized since then. In 2023, the common repairable estimate stood at $4,721 for the complete calendar 12 months. Mandel anticipates that this quantity will proceed to rise as the info matures over the subsequent 3 to 4 months.
Dearth Of Skilled Labor Further Strains The Capacity Of Automotive Repair Facilities
Furthermore, the automotive business is dealing with a notable scarcity of expert technicians, intensifying the complexities related to car restore. As the variety of skilled professionals dwindles, restore services are underneath rising strain to satisfy the rising demand for his or her companies.
This shortage of expert labor not solely drives up labor prices but additionally extends the ready interval for repairs. Consequently, car house owners might expertise delays in getting their automobiles serviced.
As SUVs proceed to promote in huge numbers, here is why the IIHS has rated these fashions because the most secure mid-size crossover’s on the highway as we speak
Growing Vehicle Complexity Coupled With A Change In Methods: Some Of The Factors Driving The Increase Of Indirect Costs
As beforehand said, the price of car restore is on the rise, and there are a number of contributing elements to this pattern. One important issue is the rising complexity of automobiles, which are now equipped with heavier and more intricate components. Additionally, developments in supplies and manufacturing strategies have led to increased prices for restore elements and companies.
Cars Are Getting Heavier And More Powerful
Cars have undergone important adjustments through the years, turning into notably heavier and extra highly effective. Between 1985 and 2022, the common car weight elevated by roughly 33 p.c, whereas common horsepower surged by over one hundred pc. This shift has implications for collision dynamics: heavier automobiles possess extra kinetic power when concerned in crashes, particularly when touring at increased speeds.
As a consequence, collisions involving heavier and quicker automobiles are inclined to generate better influence forces, resulting in extra extreme harm. Consequently, the restore prices related to these collisions are sometimes increased, reflecting the elevated power concerned within the crash and the extent of injury sustained by the automobiles concerned.
The Rising Complexity Of Cars Must Also Be Taken Into Account
Modern automobiles are geared up with an abundance of options, resulting in elevated complexity and the potential for extra points to come up. For occasion, roughly 17 p.c of registered automobiles within the US are turbocharged, a modification designed to extract extra energy from an engine. Automakers have more and more utilized turbocharging lately to downsize engines and improve effectivity. However, this addition introduces additional parts such because the turbocharger itself, supplementary exhaust pipes, and an expanded cooling system, amongst others.
Furthermore, there was a important rise within the prevalence of all-wheel-drive automobiles. While solely about 10 p.c of automobiles featured this method within the Nineteen Eighties, by 2022, this determine has elevated to 66 p.c. These developments in drivetrain expertise contribute to the general complexity and weight of vehicles. While partly meant to offset the elevated weight of automobiles, these techniques additionally goal to optimize gas effectivity, improve efficiency, and enhance maneuverability.
Shift In Materials And Construction Techniques
Many automakers are more and more turning to lighter-weight supplies, with aluminum being a distinguished selection. While aluminum is lighter than metal, it tends to be extra brittle. In the occasion of a crash, aluminum panels usually tend to crack slightly than bend and deform like metal, which may also help to higher disperse the power of the influence. However, repairing cracks is commonly tougher than addressing dents, which in most cases (not all of them) ends up requiring the replacement of aluminum panels.
Moreover, revolutionary manufacturing methods resembling mega casting or giga casting have allowed automakers to considerably cut back the variety of elements in a car. Instead of assembling quite a few smaller parts, these strategies allow the creation of bigger, built-in items. While this streamlining can enhance effectivity and cut back meeting time, it additionally implies that when a element breaks, a bigger part might should be repaired or changed.
The XUV300 petrol’s gross sales contributed to virtually 44.5 % of the SUV’s whole gross sales in January 2024
When a brand new automobile purchaser right now plans to purchase a Mahindra SUV such because the Thar and XUV700, gross sales figures reveal a transparent desire for the diesel engine possibility. But issues appear to vary relating to the Mahindra XUV300. Although the sub-4m SUV providing has grow to be a bit lengthy within the tooth and is due a refresh very quickly, its January 2024 gross sales numbers reveal a twist within the sales-split for the totally different gas sorts on provide.
XUV300 Petrol In Higher Demand
Powertrain
January 2023
January 2024
% of January 2024 gross sales
Petrol
2,533
2,453
44.49 %
Diesel & Electric*
2,732
3,061
55.51 %
*These numbers are inclusive of the electrical XUV400 as effectively
Although the XUV300 petrol has witnessed a slight dip in its year-on-year (YoY) determine, the full gross sales nonetheless crossed the two,000-unit mark in January 2024. The hole between the full gross sales of XUV300 petrol and diesel widened in January 2024 as a result of it additionally included the XUV400 EV’s numbers, which accounted for round 20 % within the tally of over 3,000 items.
Why Is XUV300 Petrol In Demand?
One of the the reason why we imagine the upper desire for XUV300’s petrol variants, in comparison with the fuel-type break up for different Mahindra SUVs, is the value distinction.
XUV 300 Petrol Prices
XUV300 Diesel Prices
Rs 7.99 lakh to Rs 13.46 lakh
Rs 10.21 lakh to Rs 14.76 lakh
Both the petrol and diesel engines of the XUV300 get the selection of handbook and AMT (automated) transmissions. But in each comparable variant, the turbo-petrol possibility is extra inexpensive by round Rs 1.5 lakh. While not distinctive to the XUV300, it issues extra to these shopping for a smaller SUV than the bigger Mahindra fashions just like the Scorpio N and XUV700.
It can be the one sub-4m SUV to get a alternative of two turbo-petrol powertrains. While each are 1.2-litre turbo items, one makes 110 PS/200 Nm whereas the opposite produces 130 PS and as much as 250 Nm.
The Mahindra XUV300 is a rival to the Hyundai Venue, Maruti Brezza, Kia Sonet, Tata Nexon, Renault Kiger, Nissan Magnite and the Maruti Fronx sub-4m crossover. It is about to be launched in a refreshed avatar quickly, which is able to give a recent look inside and outside together with just a few extra premium options together with an even bigger touchscreen.
Out of the ten automobiles on the listing, three fashions registered a year-on-year (YoY) progress of fifty % or extra in January 2024 gross sales
The first month of 2024 is over and it witnessed a surge of month-on-month (MoM) demand within the Indian automotive trade following the drop in gross sales on the finish of 2023. Almost all automobiles on this listing additionally noticed a optimistic year-on-year (YoY) progress in demand. Here’s an in depth take a look at how every mannequin fared in January 2024 gross sales:
The Maruti Baleno, with almost 20,000 items offered, took the highest spot in January 2024’s gross sales listing. Its year-on-year (YoY) determine went up by 20 % whereas the MoM leap almost noticed its demand double.
The subsequent three top-sellers for January 2024 had been the Tata Punch, Maruti Wagon R, and Tata Nexon whose gross sales ranged between 17,000 and 18,000 items. Of the trio, the Punch witnessed the most important YoY progress of fifty %. Do word that numbers of the Punch and Nexon additionally embody gross sales of the Punch EV and Nexon EV respectively.
Close on the heels of the Nexon was the Maruti Dzire (the one sedan on the listing) with complete gross sales of virtually 16,800 items. Its month-on-month (MoM) gross sales shot up by 2,000-odd items.
With gross sales numbers ranging between 15,000 and 16,000 items, the Maruti Swift and Maruti Brezza occupied the following two spots on the January 2024 listing. While the hatchback witnessed a YoY drop of seven %, the Brezza’s YoY quantity grew by seven %.
The YoY gross sales numbers of each the Maruti Ertiga and Mahindra Scorpio (consists of each Classic and Scorpio N) elevated by greater than 50 %.
With over 13,600 items dispatched, the Maruti Fronx made its onto this listing. Its MoM quantity jumped up by almost 4,000 items.
When Jeep introduced its plans to transition 100% of European gross sales to electrical and 50 p.c in North America by 2030, electrifying the automaker’s fleet appeared inevitable. It is not any shock then that when a plug-in hybrid version of the Jeep Wrangler 4xe hit the market in 2021, everybody went a bit loopy over the enduring automobile.
From racking up extra awards than you possibly can rely on one hand in its few years available on the market to outselling all of Toyota’s plug-in hybrids mixed, the Jeep Wrangler 4xe had a maintain available on the market that no different PHEV might fairly catch as much as. The autos’ actual success, although, appears to lie in Jeep and guardian firm Stellantis’ advertising and marketing efforts. The automobile’s award on the Women’s World Car of the Year Awards wasn’t a fluke, the 4xe is booming.
Here’s why — and the way — the Jeep Wrangler 4xe turned so widespread that firms left and proper had been breaking down precisely why Americans fell in love with the hybrid car.
A brand new doc from Jeep reveals the corporate’s full EV roadmap main as much as 2028.
In order to provide the newest and correct data attainable, the info used to compile this text was sourced from numerous producer web sites and different authoritative sources, together with Jeep, Stellantis, and CNN Business.
One In Four Jeep Wranglers Sold Were 4xe Models In 2022
Jeep made firm historical past in 2023. On a summer season day in the direction of the top of August, one fortunate buyer in New Jersey bought the five-millionth Jeep Wrangler. The Jeep in query was a 2023 Jeep Wrangler 4xe Rubicon twentieth Anniversary Edition paired with $5,000 price of Jeep Performance Parts as a prize to have fun the benchmark.
But, that fortunate New Jersey 4xe proprietor was only one extra of the numerous who lined as much as purchase the hybrid Wrangler when it dropped.
Why The 4xe Tops The Charts
Jeep
Plug-in hybrids nonetheless stay on the rarer aspect in comparison with electrical autos and commonplace hybrids. According to the U.S. Energy Information Administration, plug-in hybrids made up 1.4 percent of quarterly light-duty car gross sales in 2021. Hybrids, however, surpassed six p.c and electrical autos took second place with 3.4 p.c. But, within the PHEV universe, a big and boxy Jeep Wrangler takes the top prize.
Despite its traditional gas-guzzling engine with poor fuel mileage, the Jeep Wrangler 4xe outsold autos synonyms with “plug-in hybrid,” like Toyota’s fleet of PHEVs. The 4xe made up 43 percent of total Jeep Wrangler U.S. sales in 2023 with 67,429 autos bought. In comparability, the Toyota Prius, the posterchild of PHEVs, bought 38,052 fashions in 2023 as of December. Sales of the Jeep Wrangler 4xe elevated by 56 p.c in comparison with the yr prior.
The 4xe’s resume is a bit mind-boggling and eye-watering. Not solely does it rank up high by way of gross sales and recognition, however the auto awards season made it clear that the PHEV jeep mannequin was a standout. The Wrangler took residence an award from the Hispanic Motor Press and was named the Adventure Vehicle of the Year.
At the 2022 Women’s World Car of the Year Awards, the Jeep Wrangler 4xe was named the very best four-by-four available on the market. A crew of jurors from 40 nations backed the choice. On high of all of it, the Wrangler 4xe won GearJunkies’ title for greatest four-by-four car of the yr in 2021. In awards present phrases, the Jeep’s success appeared to translate to a clear sweep.
Awards embody:
Hispanic Motor Press – Adventure Vehicle of the Year 2023
Canadian Black Book – 2023 Residual Value Award
2022 Women’s World Car of the Year Awards – Best 4×4
GearJunkies – Best 4×4 2021
WardsAuto – Wards 10 Best Engines and Propulsion Systems – 2021
Despite Jeep Wranger’s dependable repute (roughly 80 p.c of the model’s 5 million Wranglers are nonetheless on the highway, stated Stellantis), the car in its 100% gas-powered type would not precisely scream sustainable. Luckily, the Jeep Wrangler 4xe doesn’t compromise the brand’s off-roading excellence simply because its now a plug-in hybrid.
49 Combined Gas And Electric Fuel Economy
According to the Department of Energy’s Fuel Economy, the 2024 Jeep Wrangler 4xe falls just short of the 2023 Jeep Grand Cherokee 4xe’s fuel economy with 49 combined city and highway MPGe. With gas-only driving, the mannequin drops all the way down to a mixed metropolis and freeway gas financial system of 20. In comparability, the 2024 Jeep Wrangler 4WD with a 6.4-liter, eight-cylinder, automated eight-speed comes out at 14 mixed metropolis and freeway MPG.
While the 4xe may have vastly improved its fuel economy, it would not rank primary amongst different plug-in hybrids for mileage. For instance, the 2024 Toyota Prius Prime SE presents a mixed metropolis/freeway fuel and electrical gas financial system of 127. That quantity drops to 52 with out an electrical cost.
Jeep’s U.S. 4xe lineup contains solely PHEVs for now, however BEVs will make the reduce, too. Here’s an outline of all the current and future 4xe lineup.
The second hottest plug-in hybrid within the U.S., additionally a Jeep, begins at an analogous value level because the Wrangler 4xe. However, the 2024 Jeep Grand Cherokee 4xe presents a faster acceleration fee in comparison with the Wrangler’s preliminary exams. Both vehicles sport 375 horsepower and 470 pound-feet of torque whereas the Grand Cherokee 4xe heats as much as 60 MPH in 5.3 seconds as an alternative of between 6.5 to six.8 seconds. The Cherokee also climbs up the ranks in terms of fuel economy. The Jeep Grand Cherokee 4xe presents a fuel and electrical mixed metropolis and freeway gas financial system of 56 MPGe with a 26-mile electrical car vary.
So what makes the Jeep Wrangler 4xe promote at such the next fee than different fashions? Marketability.
What Makes The 4xe So Marketable?
Stellantis refers to Jeep Wrangler as one of many “most recognizable nameplates in the industry,” so you wouldn’t think it would need much help with its marketability. But what Jeep has performed prior to now few years with the model’s technique marks an revolutionary strategy to promoting vehicles.
The All-American model has appeared set on switching the general public’s minds about eco-friendly vehicles and the people who find themselves behind the wheel. Jeep celebrated International Day of the Girl with a video that centered round ladies in motorsports.
The “Rebelle With a Cause” mission highlighted the Rebelle Rally, an all-female rally race throughout 1,500 miles of the Nevada and Californian desert. Former rally champions have fun the vacation that goals to spice up gender equality by driving the Jeep Wrangler 4xe.
“Two-time Rebelle Champion and Jeep Wrangler 4xe driver Nena Barlow…espouses the Jeep brand pillars of adventure, freedom, authenticity and passion as she works to empower a new generation of women off-road drivers with training sessions designed to inspire confidence and welcome new entrants into the sport,” Jeep stated in a press release.
Campaigns like that is probably not the driving issue behind the Wrangler 4xe’s surging gross sales; nevertheless, it does show the vehicle’s capability and performance on rough terrain all whereas advertising and marketing the car to a wider viewers than Jeep has reached earlier than.
The commerce affiliation states that the scheme will assist in attaining the goal of 30 % EV penetration in India
The FAME-II scheme was launched in April 2019 and is efficient as much as March 2024.
FICCI suggests together with non-public EV patrons within the new FAME-III scheme.
Penetration of EVs within the Indian market stands at 5 % at present.
Also suggests contemplating hybrid automobiles as a part of the scheme.
The reputation of electric vehicles (EVs) has been on a pointy rise in our market over the previous couple of years, which can also be right down to many manufacturers having launched totally different fashions. Before this surge, the central authorities had rolled out a pan-India incentive scheme known as the Faster Adoption and Manufacturing of Hybrid and Electric automobiles (FAME). An up to date model, FAME-II, was rolled out in 2019 with a goal to maintain the momentum of mass adoption of EVs. However, with the FAME-II scheme ending in March 2024, the Federation of Indian Chambers of Commerce and Industry (FICCI) has put forth a proposal suggesting that the Indian authorities carry ahead the FAME scheme for one more 5 years.
What Has FICCI Suggested?
FICCI says sudden withdrawal or discontinuation of the incentives will result in as much as 25 % value enhance of EVs, dissuading potential patrons and even affecting funding within the discipline. As per the organisation, EV penetration within the Indian market at present stands at solely 5 %.
If the inducement schemes proceed for the subsequent 5 years, roughly 30.5 million electrical automobiles could possibly be adopted throughout segments, serving to electrify 30 % of India’s transportation as focused. FICCI said that the subsidies could possibly be lowered and finally discontinued as soon as the value hole between EVs and combustion engines develop into negligible. This shall be achieved because the battery prices proceed happening and costs of EV elements lower over the subsequent 3-5 years.
Other Recommendations By FICCI
Besides the above solutions, FICCI has additionally shared a couple of different inputs:
It has talked about that every one sorts of hybrid automobiles (together with strong- and plug-in hybrids) and hydrogen-powered automobiles have to be included below the FAME-III scheme.
FAME-III ought to deal with extending the advantages to non-public patrons selecting an electrical automotive as nicely.
It additionally highlighted that the calculation of the subsidy ought to proceed to be primarily based on the battery dimension (per kWh) as at present talked about within the FAME-II scheme.
Sulajja Firodia Motwani, chairperson, FICCI EV committee, mentioned, “Favourable insurance policies and particularly the FAME-II scheme of the Government of India has performed a key position in spurring demand by serving to to scale back the upfront costs of EVs. This has helped create a optimistic momentum and encourage EV adoption within the nation. However, whereas we have now nicely begun, we’re nowhere near being half performed. Let us not overlook that the present value premium of EV vis-à-vis ICE with none subsidy continues to be substantial, starting from 40 % to as excessive as 130 % for numerous segments. Given this actuality, the continuation of demand incentive or subsidy is crucial and important to assist scale back this value hole. Fame-III is required to spur continued curiosity from prospects in EVs and enhance penetration over the subsequent few years.
The FAME-II scheme was launched in April 2019 and was initially supposed to finish by March 2022 however the Indian authorities pushed again the deadline by two years (on account of COVID-19) to March 31, 2024. It covers hybrids and electrical automobiles, however largely tilted to favour the latter.
It had a funds of Rs 10,000 crore to subsidise the price of shopping for an electrical automobile. This would cowl subsidising 55,000 electrical 4-wheelers having Li-ion batteries, 10 lakh electrical 2-wheelers, 5 lakh 3-wheelers and seven,000 buses had been additionally eligible for the inducement over a interval of three years. In the case of 4-wheelers, incentives have majorly been supplied to business automobiles and people used for public transportation.
While these are solely a number of the solutions made by FICCI, it stays to be seen which of those shall be considered by the Indian authorities whereas formulating the FAME-III scheme. Which of those do you suppose must be included within the last incentive scheme? Drop your solutions within the feedback.
JSW will hold a 35 percent stake in this joint venture for Indian operations with SAIC Motor
SAIC will provide advanced technologies and products to support the venture.
The partnership aims to enhance the charging infrastructure and production capacity.
Both SAIC and JSW will collaborate on developing new connected EVs and ICE vehicles.
MG Motor‘s parent company, SAIC Motor, has formed a strategic joint venture with JSW (Jindal South West) to expand MG’s operations in India. The agreement between the two companies was signed by SAIC’s President, Wang Xiaoqiu, and JSW Group’s Parth Jindal at the MG office in London on Thursday.
JSW will hold a 35 percent stake in this joint venture, with SAIC providing advanced technology and products. The partnership aims to undertake several new initiatives for the Indian auto market, including local sourcing, enhancing charging infrastructure, expanding production capacity, and developing and introducing new vehicles with a focus on green mobility.
SAIC and JSW will also collaborate to establish a smart and sustainable automotive ecosystem in India by developing new connected EVs and ICE vehicles. The joint venture is intended to optimize SAIC’s automotive expertise for new models and leverage the JSW Group’s presence in the B2B and B2C sectors to establish a robust supply chain.
Regarding the partnership, Wang Xiaoqiu, President of SAIC Motor, commented, “SAIC has always adhered to the ‘win-win cooperation’ approach while steadily improving our core capabilities and expanding our scale of production and sales. In the growing Indian automotive market, both partners shall work closely to bring in the best of innovation, in creating greener and smarter mobility products and services for our consumers, seizing market opportunities, continuously expanding the brand influence and market share of our products, and achieving greater success for MG in India.”
Meanwhile, Parth Jindal of the JSW Group stated, “One of the key focus areas of this joint venture will be to pursue the development of the EV ecosystem and to take a leadership position in this space. We would like to thank SAIC and MG Motor for choosing JSW as their partners of choice and look forward to building one of India’s largest automobile companies together.”
Operating profit increased by 34.0 percent from January to September 2023 compared to the same period last year
The operating return on sales was slightly higher at 4.9 percent
Overall development was affected by interruptions in production and high product costs
Thomas Schäfer, a member of the Volkswagen Group Board of Management, emphasized the need for decisive action to improve profitability
In the first nine months of 2023, the Volkswagen Group’s Brand Group Core focused on cross-brand cooperation to improve efficiency and increase cost savings. However, performance was impacted by interruptions in production and high product costs.
Thomas Schäfer, Volkswagen Group Board of Management Member responsible for the Brand Group Core: Overall, the results of the Brand Group Core show that there is room for improvement both in the individual brands and as a whole. We cannot be satisfied with our current profitability, and we need to take decisive action. The challenging environment and technological transformation require even closer cooperation between our brands. By leveraging synergies and bundling our expertise, we can make the necessary investments for the future.
In the first nine months of 2023, the Brand Group Core saw a 34.0 percent increase in operating profit before special items compared to the same period last year. The operating return on sales was 4.9 percent, a slight improvement. Sales revenue also grew by 24.0 percent.
Despite the challenges, the Brand Group Core reported a 21.0 percent increase in unit sales and a 9.4 percent increase in deliveries to customers. However, the market trend for battery-electric vehicles fell short of expectations.
Patrik Andreas Mayer, CFO of the Volkswagen brand and responsible for Finance at the Brand Group Core, highlighted the effectiveness of the new steering model and the progress being made in improving performance. The long-term target for the Brand Group Core’s operating return on sales remains ambitious at 8 percent.
Key figures for the Brand Group Core:
Key financials
Jan – Sep 2023
Jan – Sep 2022
Change 23/22
Unit sales
3,574,700 vehicles
2,957,400 vehicles
+21%
Sales revenue
101.060 billion euros
81.356 billion euros
+24%
Operating profit before special items
4.985 billion euros
3.720 billion euros
+34%
Operating return on sales before special items
4.9%
4.6%
+0.3%-points
Net cash flow
3.573 billion euros
1.855 billion euros
+92.7%
The performance of the Brand Group Core is also attributed to the success of the individual brands. The Volkswagen brand, despite facing interruptions in production and higher product costs, reported an increase in unit sales and sales revenue. ŠKODA, SEAT/CUPRA, and Volkswagen Commercial Vehicles also recorded positive results in unit sales, operating profit, and sales revenue.
Maruti introduced AMT gearbox technology in 2014, and the torque converter accounts for 27 percent of the tally
Maruti Suzuki India Limited (MSIL) has achieved a significant milestone by selling over 10 lakh automatic vehicles in India. Maruti Suzuki, being a prominent name in the automotive industry, has played a crucial role in making two-pedal automatic car technology accessible across the country. The company currently offers four different automatic transmission systems to cater to the diverse needs of its wide range of customers.
Innovative Technology And Customer Insights
In 2014, Maruti Suzuki introduced the Auto Gear Shift (AGS) technology, commonly known as AMT (automated manual transmission). This technology was quickly embraced by customers due to its ease of use and affordability. Currently, 65 percent of automatic vehicles sold by Maruti, from the Alto to the Fronx, are equipped with the AGS technology. Additionally, 27 percent of total automatic sales are attributed to models with a torque converter Automatic Transmission (AT). The Jimny and Ciaz offer a 4-speed torque converter, while the Brezza, Ertiga, XL6, and Grand Vitara come with a 6-speed torque converter and paddle shifters. About 8 percent of sales come from the Hybrid Electronic-Continuous Variable Transmission (e-CVT), offered in the petrol-hybrid variants of the Grand Vitara and the Invicto MPV.
Shashank Srivastava, Maruti Suzuki’s senior executive officer for marketing and sales, stated, “At Maruti Suzuki, we are committed to providing our customers with the best driving experience. We aim to make automatic transmission technology accessible to everyone by offering multiple options, and we are humbled by the positive response from our customers. Our automatic car sales have been consistently increasing, and we expect to reach the one lakh automatic vehicle sales mark for FY23-24.”
Srivastava also mentioned that about 58 percent of automatic car sales come from Maruti Suzuki’s NEXA lineup, while the Arena range contributes approximately 42 percent.
Maruti Suzuki’s automatic car sales are thriving in various regions of India, with the top contributors being Delhi NCR, Maharashtra, Tamil Nadu, Karnataka, Andhra Pradesh and Telangana, and Kerala. As traffic conditions worsen in most urban areas, the importance of automatic transmission options continues to grow, despite the premium they attract for added convenience.
Jeep Avenger crowned winner of the “autonis” Small SUV category
Avenger secured 53 percent of the votes, making it a clear class winner
Winners of the design awards are determined by more than 14,000 Auto Motor und Sport readers
Rüsselsheim, September 19, 2023 – The fully-electric Jeep® Avenger has won the Best Design award in the Small SUV category at the 2023 Auto Motor und Sport magazine “autonis” awards.
Over 14,000 readers of the German magazine participated in the voting process, with the Jeep Avenger securing an impressive 53% of the votes in its category. Readers had the opportunity to choose from 105 passenger car models across eleven classes.
Luigi Saia, Head of Jeep Germany, stated, “The Jeep Avenger was only launched this year and has already become a star. With its all-electric drive and cool design, it inspires customers and is becoming an absolute bestseller. The ‘autonis’ prize for our compact electric SUV confirms that readers and customers appreciate it.”
This recent award adds to the list of accolades already received by the Avenger, including European Car of the Year 2023.
The Jeep Avenger is a compact SUV in the fast-growing B-SUV segment, the second largest segment in Europe in terms of volume. It combines Jeep DNA with a unique combination of capabilities, style, functionality, and technology.
Equipped with an electric range of up to 249 miles on the combined WLTP cycle*, the electric powertrain features a new 400-volt electric motor with 156hp and 260Nm of torque, paired with a new 54kWh battery pack.
The launch of the Jeep Avenger in Europe marks the beginning of the brand’s electrification journey, with plans to release four all-electric models by 2025. By 2030, all new Jeep vehicles sold in Europe will be fully electric.
Fuel consumption and emission values*
Jeep Avenger Electric
115 kW (156 hp): Power consumption (combined): 15.9 – 15.4 kWh/100 km; Electric range** (combined): 390 – 400 km; CO2 emissions: 0 g/km
* All values according to WLTP. The more realistic WLTP (Worldwide harmonized light vehicles test procedure) has replaced the test procedure with reference to the NEDC (New European Driving Cycle) and is also used to determine vehicle tax.
For more information on official fuel consumption and specific CO₂ emissions of new passenger cars, you can refer to the ‘Guide to the fuel consumption, CO₂ emissions, and electricity consumption of new passenger cars,’ available at all points of sale and through www.dat.de.
**Actual range may vary due to various factors such as driving style, route, weather and road conditions, as well as the condition, use, and equipment of the vehicle.
Contacts
Alice Cross-Watson, PR Manager, Jeep
alice.cross-watson@jeep.com
07395 375272
Matthew Bendall, Head of PR, Jeep, Fiat, Abarth, Vauxhall
matthew.bendall@stellantis.com
07920 163854
ENDS
Unlock Your Automotive Passion and Explore the Road Ahead
