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EVs, big SUVs drive Ford Q3 U.S. sales up 8.2%

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EVs, big SUVs drive Ford Q3 U.S. sales up 8.2%


Ford Mustang Mach-E and F-150 Lightning on display at the New York International Auto Show on March 28, 2024.

Danielle DeVries | CNBC

DETROIT – Sales of electric vehicles and large SUVs drove Ford Motor‘s third-quarter sales up by 8.2%, the Detroit automaker reported Wednesday.

Ford said sales of all-electric vehicles increased by 30.2% during the period to a new quarterly record of more than 30,600 units. Its “electrified” vehicles, including EVs and hybrids, increased 20% compared with the same period a year earlier.

Sales of Ford’s SUVs increased nearly 10% during the quarter, including massive gains for its larger SUVs as well as the Mustang Mach E EV, which was up 51% from a year earlier.

EV sales during the third quarter are expected to be a record, as buyers pulled ahead plans to purchase a new zero-emissions vehicle ahead federal EV incentives of up to $7,500 ending in September.

Ford CEO Jim Farley on Tuesday said he “wouldn’t be surprised” if sales of EVs fell from an industry market share of around 10% to 12% this month — which is expected to be a record — to 5% after the incentive program ends.

Cox Automotive forecasts sales of EVs hit 410,000 during the third quarter, up 21% from a year earlier. That would easily be the highest amount of EVs ever sold in a quarter in the U.S., as well as a record 10% market share.

Sales of EVs as well as plug-in hybrid electric vehicles that also qualified for federal incentives are expected to assist in boosting third quarter vehicle sales up between 4% and 7%, according to forecasts from Cox and CarMax’s Edmunds.

This is breaking news. Please check back for additional details.



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It Will Now Cost You More To Update Your Aadhaar Card | Check New Fee Here

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It Will Now Cost You More To Update Your Aadhaar Card | Check New Fee Here


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The fee for biometric updates has increased from Rs 100 to Rs 125, a rise of Rs 25, marking UIDAI’s first Aadhaar service fee hike in nearly five years

The fee changes apply to updates of names, addresses, biometrics, and other details once an Aadhaar card is issued. (Representative/News18 Hindi)

The fee changes apply to updates of names, addresses, biometrics, and other details once an Aadhaar card is issued. (Representative/News18 Hindi)

The cost of updating or correcting Aadhaar cards has increased as the Unique Identification Authority of India (UIDAI) raises fees for Aadhaar-related services, effective October 1.

While there is still no fee for issuing a new Aadhaar card, the fee for updating an existing Aadhaar card has gone up from Rs 50 to Rs 75. Similarly, the fee for biometric updates has been raised from Rs 100 to Rs 125, meaning an additional charge of Rs 25. This marks the first fee increase by UIDAI in nearly five years.

Updates for Aadhaar cards for newborns will remain free. The fee changes apply to updates of names, addresses, biometrics, and other details once an Aadhaar card is issued. After issuing Aadhaar cards for newborns, a biometric update is required at age five, with subsequent updates needed between ages 5 and 7 and again between 15 and 17 years.

UIDAI has provided relief for children and adolescents aged 5 to 7 and 15 to 17 years by waiving the biometric update fee, which was previously Rs 50. Despite the fee waiver, these updates remain mandatory.

The fee for updating Aadhaar details through a machine delivered to your home or convenient address remains unchanged at Rs 700. To access this service, one must email UIDAI.

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GST Collections Rise 9.1% to Rs 1.89 lakh Crore In September, Marking 2nd Consecutive Growth

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GST Collections Rise 9.1% to Rs 1.89 lakh Crore In September, Marking 2nd Consecutive Growth


New Delhi: India’s Goods and Services Tax (GST) collections continued their upward trajectory in September 2025, rising by 9.1 per cent to Rs 1,89,017 crore compared to Rs 1,73,240 crore in the same month last year.

 

According to the data released on Wednesday, the figures mark the second consecutive month of robust growth in GST revenues, reflecting sustained economic activity and improved compliance.

 

Last month the GST collections increased by 6.5 per cent year-on-year to 1.86 lakh crore in August.

 

In September, the growth is driven by the domestic component, where CGST, SGST, IGST, and Cess collections all showed positive monthly increases.

 

The collection data indicates steady growth in GST collections and net revenues for the month, supported by healthy domestic consumption, rising imports, and a significant increase in refunds processed during the month.

 

India’s Goods and Services Tax (GST) system has achieved a major milestone in 2024-25, with a record gross collection of Rs 22.08 lakh crore, showing a 9.4 per cent growth over the previous year.

 

Daily-use products, packaged foods, and personal care items have been shifted to the 5 per cent slab from 12 to 18 per cent earlier. Companies are expected to cut prices by 4 to 6 per cent, improving affordability and boosting rural demand. Staples such as paneer, chapati and khakhra have even been moved to the zero-tax bracket, making essentials like these cheaper.

 

Rolled out on September 22, the rationalised GST rates have set the stage for major sectoral transformation by rationalising tax slabs, simplifying compliance, and addressing long-standing issues such as the inverted duty structure.

 

According to the experts, GST 2.0 has ushered in structural relief across critical sectors, the reforms are likely to accelerate growth by supporting consumption, easing compliance, and strengthening MSMEs, even as luxury and sin goods have been placed in the higher 40 per cent bracket to safeguard revenue loss. 

 

 

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No Proposal To Levy Charges On UPI Transactions: RBI Governor

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No Proposal To Levy Charges On UPI Transactions: RBI Governor


New Delhi: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday reiterated that the central bank has no proposal to impose a fee on transactions done through Unified Payments Interface (UPI).  

The governor’s clarification came during his address after the post-Monetary Policy Committee (MPC) meeting.

Malhotra stated that he had never said UPI could stay free forever, but he noted that someone needs to bear the costs associated with its functioning.

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“What I said was there are costs associated with UPI transactions, and the same need to be paid for by someone,” the governor said.

The governor had clarified the same during the previous post-policy conferences.

Earlier in the morning, National Payments Corporation of India (NPCI) data showed that the UPI saw 31 per cent transaction count growth (year-on-year) at 19.63 billion in September.

The transaction amount also rose 21 per cent to Rs 24.90 lakh crore.

Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.85 lakh crore in August.

Average daily transaction amount in September stood at Rs 82,991 crore, a rise from Rs 80,177 crore in August, the NPCI data showed.

According to data, the UPI recorded 654 million average daily transaction counts in the month, up from 645 million in August.

In August, the UPI transactions had crossed 20 billion for the first time in its history. UPI had earlier achieved a record of crossing 700 million transactions in a single day on August 2.

Meanwhile, the RBI’s monetary policy committee (MPC) has decided to keep the repo rate unchanged at 5.5 per cent, and stick to the “neutral” policy stance.

A neutral stance finds a delicate balance between containing inflation without impairing growth, so it doesn’t call for either stimulation or liquidity restrictions.

The RBI Governor stated that the sharp drop in food prices and the reductions in the GST rate had made the inflation outlook even more benign. As a result, the RBI has changed its average inflation rate forecast from 3.1 per cent in August to 2.6 per cent for 2025–2026.

 

 



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