
Hyundai back in third spot with 58,701 units sold in May 2025
While Hyundai secured third place in domestic sales, its export performance of 14,840 units helped it maintain the overall second position in India's passenger vehicle market, with total sales surpassing Mahindra's 54,819 units (including 2,388 export units). Hyundai's Chennai facility continues to serve as a major manufacturing hub for global markets,Mahindra emerged as the clear second-largest player in the domestic market, recording 52,431 units sold—a 21% year-on-year growth. The company's SUV-focused strategy, with models like the Scorpio-N, XUV700, and Thar, has capitalised on India's growing preference for utility vehicles, establishing a significant lead over Hyundai and Tata Motors.advertisementThe May 2025 rankings highlight the intensifying competition in India's passenger vehicle market. Maruti Suzuki continues to lead with an estimated 40% market share, while Mahindra's domestic share likely exceeds 15%. Hyundai and Tata Motors are vying for 12-13% market share, with Hyundai's diverse portfolio—including the Grand i10, Creta, and Venue—helping it regain ground.Tata Motors, despite its leadership in electric vehicles and strong SUV offerings like the Nexon and Harrier, faced an 11% year-on-year decline, slipping to fourth place domestically. The narrow gap between Hyundai and Tata underscores the fluid nature of the market, where monthly performance significantly influences competitive positioning.Subscribe to Auto Today Magazine
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The Wire
2 hours ago
- The Wire
Asked to Investigate UPA Govt's Use of 'Fake Notes' That Never Were: Ex-Finance Secretary Subhash Garg
New Delhi: About a year ahead of the 2019 Lok Sabha elections, Narendra Modi-led Bharatiya Janata Party (BJP) government then eying a second term, asked then union finance secretary, Subhash Chandra Garg, to investigate fake currency notes that had been allegedly used by the previous Congress-led United Progressive Alliance government to use for political funding. While Garg informed the Prime Minister's Office that he did not find anything suspicious after undertaking the exercise for a couple of months, the PMO was still not satisfied and appointed an expert committee headed by an external professional. In his new book No, Minister: Navigating Power, Politics and Bureaucracy with a Steely Resolve, Garg writes that while he communicated that 'under no circumstances' would he 'find it acceptable that an outside professional be allowed to go into the highly sensitive and confidential currency printing presses.' Despite his misgivings, an expert committee headed by former chairman to the PM's Economic Advisory Council Bibek Debroy was formed, close to the 2019 Lok Sabha elections. Garg who took voluntary retirement in 2019 writes in his book that in April-May 2018 he received a confidential demi-official (DO)-from then principal secretary to the prime minister, Nripendra Misra, to audit 'all the paper purchased and used for printing currency notes over the last ten years.' 'There was no explicit purpose mentioned for undertaking this massive exercise. When I spoke to him to find out, he was not very forthcoming. It appeared that there was some suspicion in the mind of the PMO that the previous government had used the currency note printing presses to print notes over and above what were officially accounted for to use the same for political funding,' writes Garg in the book. Garg writes that since it was an order 'and indeed a sensitive matter' he undertook a detailed audit, which he described as a 'Herculean exercise' that took a couple of months. 'In consultation with government's note printing company, the Security Printing and Minting Corporation of India Ltd (SPMCIL), I designed a broad worksheet to capture all the currency printing paper purchased over the past 10 years in square metres, all the currency notes printed during this period, the paper consumption which these printed notes accounted for by taking their dimensions into consideration and all the resultant and accounted for wastages,' he writes. 'I gathered the international norms of wastages to benchmark wastages accounted for by note printing presses. It was a Herculean exercise and took a couple of months.' Garg said that at the end of the exercise which was undertaken by the SPMCIL officers, it was found that there was slightly higher wastage which was 'not alarming' than international norms and that he found nothing suspicious. 'There was slightly higher wastage (though nothing alarming) than the international norms, but it was quite close to the Indian experience and the long-term trend. I went through all these calculations and got the SPMCIL management to send the report along with all the details officially concluding that there was no unexplained wastage. I thereafter forwarded it to the PMO with my covering note that I did not find anything particularly suspicious in the printing of notes over that period of 10 years,' he writes. According to Garg, the PMO was not satisfied and he was sent another DO from Misra in which he was informed that an expert committee headed by an external professional would be formed. Garg said that he found it unacceptable that an outside professional would be 'allowed to go into the highly sensitive and confidential currency printing presses.' 'I found it uncalled for and decided to meet him to persuade him not to embark on that wild goose chase. He was insistent. I said that the government might appoint an expert committee but under no circumstances would I find it acceptable that an outside professional be allowed to go into the highly sensitive and confidential currency printing presses,' Garg writes in the book. 'He agreed to this. The PMO decided to appoint Bibek Debroy as head of the committee, a decision that was taken just prior to the Lok Sabha elections of 2019,' he writes. Bibek Debroy. Photo: PTI/Files Debroy had been the chairman of the PM's Economic Advisory Council since 2017. Garg writes that the Debroy committee however did not start work till his voluntary retirement in July 2019. 'Nothing has been placed by the government in public domain about the work done and conclusions reached by the Debroy Committee,' he writes. In July 2019, Garg who was moved to the power ministry applied for voluntary retirement, preferring to resign over a year before his scheduled 'superannuation' date. Although Garg's new position in the power ministry came with the same salary and perks, it was widely seen as a demotion. The decision to shift Garg to the power ministry was seen as being abrupt, primarily because the finance ministry bureaucrat was closely and personally involved with several government initiatives including ,


Hindustan Times
3 hours ago
- Hindustan Times
Energy tariff for industries: Gurugram-Faridabad industrialists seek regulator's intervention
A delegation of industrialists from Gurugram and Faridabad associated with the PHD Chamber of Commerce and Industry (PHDCCI) on Friday sought the intervention of Haryana Electricity Regulatory Commission (HERC) to bring the energy tariff for industries at par with neighbouring Punjab, Himachal Pradesh and Rajasthan. In support of their submission, the delegation also presented a comparative study report highlighting how industries in neighbouring states benefited from lower electricity tariffs. The delegation met with HERC member (legal) Mukesh Garg to discuss their concerns related to the recently revised electricity tariffs for industrial units in Haryana. As per a statement, the representatives said that Haryana's industrial electricity tariff should be brought in line with neighbouring states to ensure industrial competitiveness and attract fresh investments. In support of their submission, the delegation also presented a comparative study report highlighting how industries in neighbouring states benefited from lower electricity tariffs. Responding to the concerns, HERC member Mukesh Garg said that the commission being a quasi-judicial body which can only consider petitions filed under the provisions of the Electricity Act, 2003. He said that if any consumer has objections related to the fuel surcharge adjustment (FSA) or the tariff structure, they are required to file a formal petition before the commission, upon which an appropriate decision can be made. Garg said that the commission was hearing a review petition filed by the Yamunanagar-Jagadhri Chamber of Industry and Commerce and Laghu Udyog Bharati. He said that prior to issuing the tariff order for the financial year 2025-26 on March 28, the commission had conducted a public hearing in which all stakeholders were provided the opportunity to present their views.


News18
8 hours ago
- News18
Scorpio Horoscope Today, July 26, 2025
Scorpio Daily Horoscope Today, 26 July 2025: Ganesha says there are chances of financial loss for those who deal in shares, speculation, commodities, etc. Today will be an average day for you from a business point of view. You may need to put in more effort to grow your business. You may need to complete your work on time. Today can be a very good day for you. Be aware of your responsibilities. Avoid being misled and stay away from greed and temptations. You will perform your duties well. You will work with balance and harmony, thinking big. Things will move smoothly in various matters, and you will maintain good communication and coordination. Keep your distance from cunning people. Your personality will be normal, and your health will be average. You will maintain discipline and insist on following customs and rules. Take seasonal precautions and pay attention to your diet.