Auto recap, June 8: Maruti Suzuki & Hyundai hope for export growth, Volkswagen's new EV platform, e-car sales grows
The automotive industry is experiencing rapid changes, which make it difficult to stay informed about all the latest advancements. At HT Auto, we are dedicated to delivering the most relevant and current information as it becomes available. Below is a concise overview of the key highlights from Sunday, June 8.
Maruti Suzuki expects 20% export growth in FY26, Hyundai bullish about single-digit growth
Hyundai and Maruti Suzuki, two leading car manufacturers in the Indian passenger vehicle market, are expecting robust growth in export volumes in FY26. Both these car manufacturers expect healthy growth in overseas shipments in the current financial year amid the challenging business environment in the domestic market. Maruti Suzuki is bullish about achieving around 20 per cent export growth in FY26, while Hyundai is expecting a single-digit growth in overseas shipments this fiscal.
Also Read : Maruti Suzuki expects 20% export growth in FY26, Hyundai bullish about single-digit growth Volkswagen's new modular EV platform supports combustion engines, but there's a catch
Remember Volkswagen's Scalable Systems Platform, or SSP, which is a modular electric vehicle architecture? It's been more than four years since the German automaker announced the SSP, the all-encompassing electric vehicle of the OEM. Volkswagen's Scalable Systems Platform was originally expected to be ready by now, but it has been delayed until later this decade. This setback has been attributed to Volkswagen's software division Cariad. However, the auto major is revealing new details of the SSP.
Also Read : Volkswagen's new modular EV platform supports combustion engines, but there's a catch India's electric car sales cross 4% first time in May 2025: FADA
Electric vehicles may have been facing multi-dimensional challenges, but the electric car retail sales in May 2025 crossed four per cent in India. It was the first time that electric cars crossed this mark. During the same month a year ago, electric cars sold 2.6 per cent, revealed the data by the Federation of Automobile Dealers Associations (FADA). Also, the data has revealed that May 2025 recorded an uptick from 3.5 per cent in April this year by 0.5 per cent.
Also Read : India's electric car sales cross 4% first time in May 2025: FADA
Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.
First Published Date: 09 Jun 2025, 07:10 AM IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
Indian refiners can do without Russian oil, but with trade-offs
Indian refiners, the world's biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, which accounts for up to 38 per cent of India's refinery intake, with alternatives will shift yields, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs, according to global real-time data and analytics provider Kpler. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs," Kpler said in a report, 'US Tariffs on Indian Imports: Implications for Energy Markets & Trade Flows'. India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022. Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20 (FY20), Russia's share increased to 35.1 per cent in FY25, and it is now the biggest oil supplier to India. In terms of volume, India imported 88 million tonnes from Russia in FY25, out of the total shipment of 245 million tonnes. In July, India received 1.6 million barrels per day of crude from Russia, ahead of China's nearly 1 million bpd and Turkey's around 5,00,000 bpd. Kpler said deep discounts and strong compatibility with India's refining systems led to a surge in imports of Russian Ural crude oil. "Russian crude supports high distillate yields (diesel and jet fuel) and is ideally suited to India's advanced refining infrastructure. It has enabled both state-owned and private refiners to operate above nameplate capacity while maintaining strong margins. "A reversal of this will result in a mild yield shift (lower middle distillate yields, higher residue yields) and probably a small reduction in primary throughput rates, as margins will no longer command a sizeable premium against regional benchmarks, considering existing discounts on Russian oil," Kpler said. The Indian government has issued diplomatic but firm responses to the US tariffs, emphasising the importance of maintaining energy security. "Should Russian oil become inaccessible, India could face an additional USD 3-5 billion in annual import costs (based on a USD 5 per barrel premium on 1.8 million bpd). If global prices rise further (a scenario in which Russian crude exports are being curtailed, in the absence of sufficient buying interest from India), the financial burden could increase significantly," the report said. This may prompt the government to cap retail fuel prices, which could strain fiscal balances. A spike in the import bill could even lead to a reduction in overall crude purchases. India's limited storage capacity further constrains its ability to manage such disruptions. While Russian flows to India continue under a 'business-as-usual' stance, the escalating US rhetoric has reopened conversations about supply diversification, with some Indian refiners reportedly booking increased volumes of Middle Eastern crude. According to Kpler, replacing 1.8 million barrels per day (bpd) of Russian crude would require a multi-regional approach. The Middle East remains the most viable option operationally, grades such as WTI Midland from the US could contribute 2,00,000-4,00,000 bpd. These (US crude) are lighter and yield less diesel, a disadvantage for India's distillate-heavy demand. Long-haul freight and cost considerations will also restrict scalability, it said. West Africa and Latin America (LatAm) crudes offer moderate potential. "A balanced replacement strategy may involve 60-70 per cent of substitute volumes from the Middle East, with US and African/LatAm crudes serving as tactical fillers. Nevertheless, none match Russian barrels in cost, quality, or reliability (some of the Russia-to-India barrels have already been contracted under term agreements)," it noted. According to Kpler, Indian refiners can technically adapt to the loss of Russian barrels, but with significant economic consequences. "Replacing 1.7-2.0 million bpd of discounted, medium-sour crude would erode refining margins and misalign product yields. Lighter substitutes like WTI or West African grades produce more gasoline and naphtha, reducing diesel output and hurting both domestic and export economics." Even Middle Eastern grades, while closer in quality, are priced tightly to official selling prices (OSP), leaving limited arbitrage opportunities. "In addition to higher feedstock costs, Indian refiners would face elevated freight and credit charges," it said. "The transition is commercially painful, even if technically feasible."
Hans India
25 minutes ago
- Hans India
Peacock restaurant opens its int'l branch in Riyadh
Karimnagar: Peacock Restaurant, popular multicuisine restaurant in Karimnagar, has opened its first international outlet in Riyadh, The capital of Saudi Arabia, On Friday. Peacock was founded in 1996 by the Late Mohammed Akthar Ali, in Karimnagar. This new Riyadh venture brought under the partnership with Syed Wayez Ahmed, Group CEO of Wayez International Group of Companies, Mohammed Asghar Ali, Managing Director of Peacock Group of Hotels and Restaurants, and Mohammad Ali Al Jaidi, CEO of MAJIC Investment Company, India and Zaki, Vice President of Wayez International Group of Companies, promised to serve the taste with quality containing Indian cuisine and Indo Chinese Cuisine.
India.com
25 minutes ago
- India.com
‘Sabka Boss' Can't Stop India: Rajnath Singh's Sharp Dig At Trump Over Tariff Bomb
New Delhi: In a sharp critique of recent US tariff policies, Defence Minister Rajnath Singh took aim at President Donald Trump, suggesting that some global powers are struggling to accept India's rapid rise on the world stage. Speaking at a public event, Singh hinted at American discomfort with India's growth, using a pointed reference to Trump's leadership style. 'Some people are unable to digest the speed at which India is advancing. Their mindset seems to be, 'Sabke boss toh hum hain (I am everyone's boss), how is India progressing so fast?' Efforts are now on to make Made-in-India products more expensive when they are exported to other countries," he said. #WATCH Raisen, Madhya Pradesh: Defence Minister Rajnath Singh says, "There are some people who are not happy with the speed at which India is developing. They are not liking it. 'Sabke boss toh hum hain', how is India growing at such a fast pace? And many are trying that the… — ANI (@ANI) August 10, 2025 He accused certain global players of deliberately trying to make Indian products more expensive in international markets by imposing tariffs, thereby undermining the success of the "Make in India" initiative. Despite these hurdles, Singh delivered a strong message of confidence. 'The pace at which India is progressing, let me assure you, no global power can stop us from becoming a superpower,' he declared. Defence Minister Rajnath Singh further praised Madhya Pradesh's rapid development and envisioned it as a "Modern Pradesh." At the foundation stone ceremony of the new rail coach factory project 'BRAHMA' he highlighted the symbolic name and expressed confidence the factory will boost the state's industrial growth. He called the BEML's Greenfield Rail Manufacturing facility (BRAHMA) a key step in boosting India's industrial and defence self-reliance. The unit will manufacture advanced rolling stock for domestic and export markets, create over 5,000 jobs, and is expected to catalyse local supply chains in the state's industrial belt. Addressing the gathering, Singh called initiatives like BRAHMA critical in building the industrial and technological base needed for both national security and economic growth. Defence Minister said,"Seeing the development of Madhya Pradesh, I can say that in the coming years, Madhya Pradesh will be known as Modern the rail coach factory whose foundation stone was laid, I saw that you have named it 'Brahma'.Naming this unit after the creator is, in itself, a very wonderful suggestion. I am fully confident that this unit, drawing inspiration from its name and realising it, will reach new heights in the matter of product manufacturing." He further added, "There are some people who are not happy with the speed at which India is developing. They are not liking it. 'Sabke boss toh hum hain', how is India growing at such a fast pace? And many are trying that the things made in India, by the hands of Indians become more expensive than the things made in those countries, so that when the things become expensive, the world will not buy them. This effort is being made. But India is progressing so fast, I say with full confidence that now no power in the world can stop India from becoming a big power of the world..." "As far as the defence sector is concerned, you will be happy to know that now we are exporting defence items worth more than Rs twenty four thousand crores. This is the strength of India, this is the new defence sector of the new India and the export is increasing continuously," Defence Minister said. Singh had on Saturday announced that the annual defence production of the coutnry has soared to an all-time high figure of Rs 1,50,590 crore in the Financial Year (FY) 2024-25. The milestone represents a robust 18 per cent growth over the previous fiscal's output of Rs 1.27 lakh crore, and a staggering 90 per cent increase since FY 2019-20, when the figure was Rs 79,071 crore. Meanwhile today Union Minister Shivraj Singh Chouhan thanked the Central Government and Defence Minister Rajnath Singh at the 'Bhoomi Poojan' of the Rs 1,800-crore Rail Coach Factory in Raisen, which will manufacture metro, Vande Bharat, and other rail coaches, promising significant job creation. Addressing the gathering,Chouhan said,"Many thanks to the Government of India and the Defence Minister. This plant, worth 1800 crore rupees, will be established, where work such as metro, Vande Bharat, and rail coach designing will take place... This will provide employment to many people..." He stressed that indigenous equipment had played a "pivotal role" in the success of the mission. The BRAHMA facility will be developed across 148 acres as a world-class manufacturing unit for rolling stock and is expected to be completed in about two years. BEML plans to invest ₹1,800 crore in the next few years in a phase-wise manner to fully establish the integrated manufacturing unit. Initially producing 125-200 coaches per year, its capacity will scale up to 1,100 coaches annually within five years. The plant will manufacture Vande Bharat trainsets, metro cars, Electrical Multiple Units, high-speed rail coaches, and other advanced rolling stock. It will also incorporate zero liquid discharge systems, solar and renewable energy integration, rainwater harvesting, and green landscaping in line with India's green manufacturing goals. Expected to create over 5,000 direct and indirect jobs, the facility aims to catalyse local supply chains and encourage MSMEs in Madhya Pradesh's industrial belt, particularly in Singrauli, Satna, Rewa, and Katni. The use of recycled and sustainable building materials will ensure compliance with the highest environmental and safety standards, including statutory environmental clearances and green factory norms. He lauded BEML as "a pillar in India's journey towards industrial and defence self-reliance" and said the project would bolster its position as a global supplier of mobility solutions. "Projects like BRAHMA reaffirm our economic resolve to be self-reliant, globally competitive, and future ready. This is how we will build a strong, secure, and prosperous India," he said, while urging the DPSU to further strengthen research and development. Highlighting the Modi government's push for Aatmanirbhar Bharat, Singh said defence production had touched a record Rs 1.51 lakh crore in FY 2024-25, while exports reached an all-time high of ₹23,622 crore. He credited "double engine" governance for driving India's GDP growth of about 6.5%, adding that the country was on track to become the world's third-largest economy and achieve the goal of Viksit Bharat by 2047. The ceremony was attended by Agriculture Minister Shivraj Singh Chouhan, Madhya Pradesh CM Mohan Yadav, Railways Minister Ashwini Vaishnaw (virtually), and senior state and central officials. On Thursday, Madhya Pradesh Chief Minister Yadav said that for the first time in the state, train coaches and metro train coaches were being prepared and delivered across the nation and the world. He said the manufacturing unit had been established in Umariya village in Raisen district, with an investment of around Rs 1800 crore. He added that around 2,000 people would get employment opportunities through this project. He said it was the first rail coach manufacturing unit in the state, which would help establish Madhya Pradesh as a prominent centre for rail coach construction. The state government had allotted around 60 hectares of land for the unit, he said, adding that coaches for Vande Bharat, Amrit Bharat, and metro trains would be made at the facility. He also highlighted that several auxiliary industrial units in Raisen and Bhopal districts would receive a significant boost from this development.
