Latest news with #VivekVaidya
Miami Herald
15-07-2025
- Automotive
- Miami Herald
Tesla makes Model Y available in India for first time
July 15 (UPI) -- Tesla entered India's market for the first time on Monday, making its Model Y SUV available and opening its first showroom in the nation. The SUV is going to have a starting price of $68,000 with a self-driving add-on for $7,000. Customers can order the SUV for registration by paying a deposit of around $260 starting on Tuesday. The company opened a showroom in Mumbai. Additionally, it plans to set up experience centers, service centers, delivery systems, charging stations, and logistic hubs throughout the country, according to a report. Tesla's high price in India is due to its 70% tariff on EV Imports and about 30% luxury tax. Experts said that due to these high prices, Tesla will not be competing with local EV Companies instead, its competition will be in the premium automotive market. "I won't say that these prices are completely out of range because you will find buyers in India for all price points," Vivek Vaidya, global client leader for mobility at research firm Frost & Sullivan, said. "The question is whether they are going to threaten the mass market. The answer to that is no because the most popular selling cars probably sell at one-tenth of this price."' According to government data, India is the fourth largest automotive market with nearly 6 million vehicles made yearly and plans to have 30% of its automotive sales to be electric by 2030. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
15-07-2025
- Automotive
- UPI
Tesla makes Model Y available in India for first time
Telsa entered into India's market with its electric SUV the Model Y, on Tuesday. File Photo courtesy of Tesla July 15 (UPI) -- Tesla entered India's market for the first time on Monday, making its Model Y SUV available and opening its first showroom in the nation. The SUV is going to have a starting price of $68,000 with a self-driving add-on for $7,000. Customers can order the SUV for registration by paying a deposit of around $260 starting on Tuesday. The company opened a showroom in Mumbai. Additionally, it plans to set up experience centers, service centers, delivery systems, charging stations, and logistic hubs throughout the country, according to a report. Tesla's high price in India is due to its 70% tariff on EV Imports and about 30% luxury tax. Experts said that due to these high prices, Tesla will not be competing with local EV Companies instead, its competition will be in the premium automotive market. "I won't say that these prices are completely out of range because you will find buyers in India for all price points," Vivek Vaidya, global client leader for mobility at research firm Frost & Sullivan, said. "The question is whether they are going to threaten the mass market. The answer to that is no because the most popular selling cars probably sell at one-tenth of this price."' According to government data, India is the fourth largest automotive market with nearly 6 million vehicles made yearly and plans to have 30% of its automotive sales to be electric by 2030.
CNBC
15-07-2025
- Automotive
- CNBC
Tesla's entry into India will not threaten domestic mass market: Analyst
Vivek Vaidya at Frost & Sullivan discusses Tesla's foray into the Indian market. He says the most popular cars in India are one tenth of the price of Tesla and it will be "the rich and famous" that drive Tesla cars.
CNBC
28-05-2025
- Automotive
- CNBC
BYD's price cuts are a desperate attempt to get rid of excess inventory, says consultancy
Vivek Vaidya, partner at Frost & Sullivan, says that one unintended consequence of the U.S.-China tariff war is that there has been a build-up of inventory for Chinese automakers who are under significant pressure to clear it, and that it is not clear if BYD is facing an "Evergrande moment" given the fact that they are cash positive and differences in cash cycles for the auto industry compared to real estate.
