The report indicates mixed sentiment as two-wheelers and tractors showing resilience, while passenger and commercial vehicles face a more challenging environment
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For India, the world’s third largest automobile market with annual sales of around two crore vehicles, the transition from Internal Combustion (ICE) Vehicles to Electric Vehicles (EVs) is non-negotiable
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Consumers will now have the option to receive refunds either directly to their bank accounts or via coupons, a significant change from Ola's previous policy
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Limited scrapping facilities and lack of incentives hamper implementation, with more Registered vehicle scrapping facilities (RVSFs) expected in coming years
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Passenger vehicle sales were particularly affected, plunging nearly 19 per cent compared to the same period last year
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The company's commercial vehicle segment experienced a challenging quarter, with total CV sales dropping to 84,281 units in Q2 FY25, compared to 1,04,085 units in the same period last year
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Scooter sales grow by 20 per cent, from 155,526 units last year to 186,751 units this year
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Rating agency Icra's outlook on the refining and marketing sector remains stable
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