Innova Financial News

Kia Carnival is expected to reenter the Indian market in 2024, potentially marking a fresh beginning for the brand, thanks to its attractive exterior design enhancements. Spy images of the updated Kia Carnival display a refreshed front grille and lighting arrangement, along with a revised tail light design that aligns more closely with the updates seen in the refreshed Seltos model.

Maruti Alto, Swift, WagonR and Hyundai i10, are less than 4 metres in length, and consequently are far cheaper, thanks to a lower tax rate. In its 18th year, the car is on an unprecedented high—the addition of a hybrid version late last year is likely to catapult it to all-time-high annual sales this year. In fact, that version enjoys a near two-year waiting period and the demand is such that Toyota has had to halt bookings for two variants.

National Highways Authority of India (NHAI), and the National Highways & Infrastructure Development Corporation LTD, Road Transport and Highways Minister Nitin Gadkari articulated the critical role of the Build-Operate-Transfer (BOT) model in enhancing the nation's infrastructure quality, economy, and employment prospects. Minister Gadkari underscored the significance of innovative models, particularly the BOT framework, to expedite high-quality infrastructure development while ensuring efficiency. He stressed, "BOT model can help in doing quality and maximum work in less time.

Kirloskar Motor (TKM) on Friday reported its best-ever monthly sales at 22,910 units in August. The company's total dispatches to dealers increased by 53 per cent last month to 22,910 units as compared with 14,959 units in August 2022. The company said it sold 20,970 units in the domestic market last month. Exports stood at 1,940 units last month, it added. «Strong sales volume and enhanced demand showcase customers' ever-growing affinity for the brand. Toyota Urban Cruiser Hyryder and Innova Hycross continue to register a strong demand,» TKM Vice President of Sales, and Strategic Marketing Atul Sood said in a statement. The Innova Crysta, Fortuner and Legendar are witnessing sustained segment leadership, he added.

Union Minister Nitin Gadkari launched the world's ... moreUnion Minister Nitin Gadkari launched the world's first BS-VI (Stage-II), electric flex-fuel car today.

agricultural growth rate will reach 20% from the current 12%. Talking about innovations in biofuels, Gadkari spoke of a refinery in Numaligarh in Assam of Indian Oil Corporation where bamboo is being used for manufacturing bioethanol.

The Toyota Innova has achieved the distinction of being the first car in both the country and the world to feature a flex-fuel engine capable of running entirely on ethanol. This development has sparked renewed discussions about the potential of this environmentally friendly and efficient fuel and powertrain technology. Here is a comprehensive overview about the technology.

Toyota Innova HyCross. The Innova HyCross not only runs on alternative fuel but can also generate its electric power and operate in EV mode. This prototype of the electrified Innova HyCross flex-fuel is in compliance with the latest emission standards, Bharat Stage 6 (Stage 2).

Toyota Motor has unveiled the world's first fully ethanol-powered car equipped with a flex-fuel engine. This model, based on the popular MPV Innova HyCross, was officially launched today, August 29, in an event attended by Union Minister Nitin Gadkari.

Nitin Gadkari on Tuesday launched a 100 per cent ethanol-fueled variant of Toyota's Innova car. The launched car is World's first BS-VI (Stage-II), electrified flex-fuel vehicle. «It is the dream of all of us to have cars, two-wheelers and autos running on ethanol,» said the minister during the event.

Union Minister of Road Transport & Highways Ni... moreUnion Minister of Road Transport & Highways Nitin Gadkari will launch the world's first ethanol-fuelled Toyota Innova.

₹10.29 lakh (ex-showroom). Prospective buyers now have the opportunity to make bookings for the Rumion model, which shares its foundation with the Maruti Suzuki Ertiga. Earlier this month, Toyota introduced the Rumion, marking its entry into the budget-friendly MPV category in the Indian market.

ethanol-fueled variant of Toyota's Innova car tomorrow, August 29, Tuesday. The minister provided the information while addressing the Mint Sustainability Summit here. Gadkari has been exhorting automakers to come out with alternative fuel-powered and green vehicles.

Toyota has introduced the new Rumion MPV in India, which is based on the Maruti Suzuki Ertiga platform. The pricing details and booking information for the Rumion will be announced soon. This marks the fourth instance of badge-engineering collaboration between the two auto manufacturers, expanding Toyota's MPV range to encompass the entry-level Rumion, followed by the premium Innova Crysta, Innova Hycross, and the Vellfire.

IPOs) are lined up to raise nearly ₹8,000 crore in August, according to investment bankers.Companies such as SBFC Finance, Concord Biotech, Jupiter LifeLine Hospitals, TVS Supply Chain Solutions, Balaji Speciality Chemicals, Yatra Online, Innova Captab, Aeroflex Industries, Rishabh Instruments, and Vishnu Prakash R Punglia are likely to launch their maiden public issue this month. The ₹1,551 crore public issue of Ahmedabad-based pharmaceutical firm Concord Biotech will open today for public subscription, while the ₹1,025 crore Mumbai-based non-banking finance company SBFC Finance public issue opened on Wednesday. The mood in the primary market is better now with a strong secondary market, according to bankers.

₹19.99 lakh (ex-showroom), available in five colors and three variants. Notably, the top-spec ZX variant of the Toyota Innova Crysta now reflects a ₹37,000 hike, resulting in a new ex-showroom price of ₹26.05 lakh. Similarly, the VX variant in both seven-seat and eight-seat configurations has seen a price revision of ₹35,000, leading to a new price range of ₹24.39 lakh to ₹24.44 lakh (all prices, ex-showroom).

Toyota, Japan’s most-valued company that has had a relatively circumspect local presence in comparison with compact-car leader Suzuki, is considering setting up an ancillary business in India, tapping into New Delhi’s emergence as a manufacturing hub as the world seeks to reduce a hitherto disproportionate China-centric supply reliance. «Toyota wants to bring their supply chain to India,» a person aware of the talks told ET. «That conversation is slowly opening up.

Toyota Kirloskar Motor (TKM) is likely to reach optimal capacity utilisation at its plants by the end of 2024, after which it may consider setting up another unit, a top company executive told ET. The maker of Hycross and Innova Crysta models has seen a surge in demand since it started rolling out new models in 2020, following its global alliance with Suzuki Motor Co. On the back of robust demand for its newly launched vehicles and buoyancy in the passenger vehicle market, TKM is expecting 2023 to be its second consecutive year of record production and sales, said Vikram Gulati, country head and executive vice president, Toyota Kirloskar Motor (TKMPL). In FY23, TKM's dispatches to dealers increased by 41% over the previous year to 174,015 units. It plans to dispatch 220,000-230,000 units in the current fiscal year, according to a person familiar with the company's sales projection. This would be TKM's second consecutive year of double-digit growth. A large part of its incremental volume is likely to come from the Hyryder, its new compact SUV which is the first product co-developed with Maruti Suzuki.

SUV (sport utility vehicle) or MUV (multi-utility vehicle) the GST Council’s decision to change the definition of UVs that attract a compensation cess of 22% may have implications. Mint explains the changes and the impact on buyers. All motor vehicles, barring electric vehicles, are taxed in the highest GST slab of 28%.

Large multi-utility vehicles like the Toyota Innova Crysta, as well as SUVs like the Scorpio-N, Hyundai Alcazar and MG Hector Plus and the upcoming new Kia Carens will attract a compensation cess of 22%, as the GST Council clarifies a vehicle no longer has to be "popularly known as an SUV" to attract 22% cess as long as it meets a set of criteria related to height, ground clearance and engine capacity. However, strong hybrid versions of the Innova Hycross & Maruti Suzuki Invicto will continue to be taxed at 20% cess as they benefit from the 2% relaxation in cess given to hybrid vehicles.

New Delhi: Federal indirect tax body the Goods and Services Tax (GST) Council on Tuesday exempted integrated GST (IGST) levied on select drugs when imported for personal use, redefined sports utility vehicles to prevent car makers side stepping the highest tax bracket and decided on levying 28% uniform GST on online gaming, horse racing and casinos on the full-face value of bets. Finance minister Nirmala Sitharaman who also chairs the GST Council said at a briefing that tax rates were brought down on four items--uncooked snack pellets, fish soluble paste, certain yarn and LD slag--a byproduct of steel production that is used in certain industries.