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Why Bajaj Auto could be a better bet than Hero

ET Intelligence Group: Bajaj Auto BSE 0.33 %, India's third-largest motorcycle maker, is likely to outperform market leader Hero MotoCorp in the medium term, because its shares are cheaper to own and the company looks set to post improved sales and a stable margin.

In a post-earnings conference, the company's management said it is planning to launch three bikes in the second half: one from the Pulsar family , a new variant of the recently-launched V and a premium segment bike -VS 400, which will compete with Royal Enfield.The management is hoping to sell 7,000-8,000 units of the VS400 every month. The new launches are likely to augment overall volumes in the second half of the fiscal year, helping it sell more units than in the first six months ended on September 30 -it sold nearly 11 lakh bikes in the first half. The company's market share has gained 3.6 percentage points to 18.8% in the past seven quarters, driven by the combined volumes of the CT100, Avenger and V-15.Interestingly, none of these new bikes was a big success individually. Bajaj Auto is set to post higher volume growth at a time when its peers are likely to see sluggish performance due to elevated inventory in the first half. The street is pricing in domestic volume growth of 12-13% for the current fiscal year for Bajaj.

Bajaj Auto's margin is expected to remain stable in the medium term. In the September quarter, its operating margin was 21.4% and the management sounded confident of maintaining it at around 21%. A pickup in the volumes of three-wheelers, which offer better profitability than motorcycles, is expected to insulate the margin from any impact from lower twowheeler exports. Three-wheeler volumes are expected to grow 5% in FY17, and Bajaj Auto is expected to outperform the segment growth after its recent entry into the cargo segment. The company has increased prices by `500 on bikes and `1,000 on three-wheelers in mid-July . This will help offset any pressure from commodity price increase.

Bajaj Auto is trading at 16 times its FY18 projected earnings after adjusting for the stake in KTM.This is marginally higher than its long-term average price-multiple, but most of its peers are trading at 20-50% premium to their longterm average PE. The valuation of Bajaj has been depressed owing to sliding volumes in the export markets which are primarily oil dependent countries. The market is factoring a 9-10% decline in volume growth in Bajaj's motorcycle exports. This shows headwinds from the export market are already priced-in.

Source : Why Bajaj Auto could be a better bet than Hero

Nov 02, 2016
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Honda Navi crosses 50,000 units in sales in India

When the Honda Navi was launched at the 2016 Auto Expo, it ended up being the focus of everyone’s attention. Well apart from the attractive pricing it was unlike any other two-wheeler on sale in the country. Within two months of deliveries commencing, the Navi crossed the milestone of 10,000 units sold. And it continues to sell like hot cakes.

Honda Motorcycle and Scooter India (HMSI) has announced that the Navi has crossed the 50,000 units sold milestone. The Navi has achieved this feat within six month of deliveries commencing. Commenting on its success, Yadvinder Singh Guleria, senior vice president, sales and marketing, HMSI said, “With Navi Honda has been successful in creating a new segment in the Indian two-wheeler industry.”

The Honda Navi is powered by a 110cc single-cylinder engine which makes 7.83PS and 8.96Nm of torque. It is available in Street, Adventure and Off-road trims. With prices starting from Rs 42,824 (ex-Mumbai) it is one of the most affordable two-wheelers in India. In terms of dimensions, it measures 1,805mm in length, 748mm in width and has 1,286mm wheelbase. It gets a 156mm ground clearance and is lighter than the Activa by 7kgs.

Speaking of the Honda Activa, we have compared it with the Honda Navi and found the latter to be light and agile but with a different weight distribution. Heck, we have even compared the Navi to the Honda Grom.

Source : Honda Navi crosses 50,000 units in sales in India
 

Nov 02, 2016
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Five things to consider when choosing an e-bike

Anyone looking for an electric bike will be spoiled for choice this fall with a host of models on the market from various manufacturers. Here are a few things to look out for when shopping for an e-bike.

Model

It's important to pick a model that's designed for the kind of use you have in mind. For more comfort when riding around town, look for a city e-bike with an upright position, and high, close handlebars. This lets the rider see far ahead while keeping their arms relaxed.

In recent years, more versatile models have landed on the market, based on the design of hybrid bikes. Here, the rider's position is more inclined, combining pleasure with practicality for commuters. These two kinds of electronic bikes usually come with practical accessories such as a luggage rack or a built-in antitheft device, and they are ideal for day-to-day use.

Some brands also make models suitable for all kinds of use and leisure activities. These tend to be lighter, with the slim wheels of a mountain bike, and they don't come with any accessories. They're aimed at sporty users and thrill-seeking riders.

Battery

Another key point when choosing an electric bike is the battery. An e-bike battery can be recharged in a few hours from a regular mains socket, and weighs an average 3kg. Some batteries can be removed, making the bike easier to transport.

There are three main types of battery. Lead-based batteries are the cheapest option, but they're heavy and sensitive to changes in climatic conditions. Nickel-cadmium batteries are lighter but have battery memory issues, so performance can suffer if they aren't completely depleted prior to charging. Lithium batteries stand out as the best choice, but they're the most expensive.

All three kinds come in various models, offering varying levels of power and range. A 36 volts/400 amp-hour battery offers sufficient electric assistance for several hours' riding.

Motor

The location of the bike's driving force, its motor, is also worth considering. Before the 2010s, e-bike motors were usually located on the wheels, making them cheaper and easier to install. When riding, the feeling is a bit like having someone pushing your back. The difference in power between two pedal strokes isn't really that noticeable, and it doesn't really matter if the motor is on the front or back wheel, especially for city riding. However, riders have noticed a lack of grip on unstable, rougher terrain when the motor is on the front wheel.

An e-bike with a pedal-based hub motor feels more like riding a regular bicycle. Certain recent models take the concept further with a system of sensors measuring speed, pressure and rotation to help the motor adapt to the cyclist's needs.

Assistance

E-bikes fall into two categories. Some come with an electric motor that responds to just one factor: whether or not the rider is pedaling. The level of assistance is therefore constant and can be adjusted via a control module. These modules can be fixed or removable, with LEDs or digital displays, allowing the cyclist to change the level of help they get from the electric motor.

A more advanced system used in higher-end models offers "proportional" assistance, monitoring the rider's pedaling and adding a certain amount of assistance. This is determined by several sensors, which evaluate the pressure exerted on the pedals and the level of difficulty the user faces. This makes for improved responsiveness from the motor and lower power use.

Gears

Cyclists also expect speed and adaptability from a bike's gear transmission. For a sporty feel and no loss in output, some electric bikes use derailleur systems for changing gears.

Models designed for city riding tend to use a gear hub system. Linked to the pedal motor, this gear system requires the user to stop pedaling to change gear, which can take some getting used to. But this practical solution protects the chain and avoids problems with derailment or chain jumping.

Source :  Five things to consider when choosing an e-bike

Nov 02, 2016
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Volkswagen India sales up by 70 percent in October 2016

NEW DELHI: German car manufacturer, Volkswagen today announced its monthly sales performance for October 2016. The carmaker sold 5534 units as compared to 3255 units sold in the corresponding month of the previous year.

Michael Mayer, Director, Volkswagen Passenger Cars India said, We welcomed the festive cheer with the launch of Volkswagen’s made-for-India and made-in-India Ameo Diesel, expanding our product portfolio to a wider audience. With our recent launches, we are well on course to give customers even more reasons to visit the Volkswagen showrooms. We are confident in continuing to improve our performance in sales and service, in the coming months along with exciting new products on the anvil.”

"Ameo Diesel, expanding our product portfolio to a wider audience. With our recent launches, we are well on course to give customers even more reasons to visit the Volkswagen showrooms. We are confident in continuing to improve our performance in sales and service, in the coming months along with exciting new products on the anvil.” he added

Volkswagen attributes the increase in sales to a larger bouquet of product portfolio that the brand is now offering to the Indian audience combined with the growing demand this festive season.

The company recently announced Volksfest 2016, with special festive offers that garnered a tremendous response and welcomed several new customers to the Volkswagen family. The company continues to strengthen its product offering in the Indian car market across categories providing consumers a wider choice to experience the brands robust build quality, safety features and fun driving experience.

Source :  Volkswagen India sales up by 70 percent in October 2016

Nov 01, 2016
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Ashok Leyland October total sales up by 28%

NEW DELHI: Home-grown commercial vehicle manufacturer Ashok Leyland reported an increase in sales by 20 percent the automaker said in BSE filing. The company sold 12533 vehicles including MHCV & LCV versus 9,803 vehicles in the same month last year.

In M&HCV segment, the company sold 9574 vehicles in October 2016 versus 7,176 vehicles in the same month last year. Similarly, the LCV sales contributed 2959 units in total sales versus 2,627 vehicles in the same month last year.

Recently, the commercial vehicle manufacturer won USD 170 million (Rs 1,140 crore) order from the Government of the United Republic of Tanzania for the purchase of vehicles, gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances

Source : Ashok Leyland October total sales up by 28%

Nov 01, 2016
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