Page 248 - Auto
Kia Motors India reports 74% increase in August sales at 10,845 units
Kia Motors India on Tuesday reported a 74 per cent increase in sales at 10,845 units in August as compared with 6,236 units in the same month last year.
 "Kia Motors India reports 74% increase in August sales at 10,845 units")
August sales: Mahindra's auto dispatches decline 13%, tractors up 69%
Volumes were dragged by medium & heavy commercial vehicles and three-wheelers. which fell 71 per cent and 94 per cent respectively
 "August sales: Mahindra's auto dispatches decline 13%, tractors up 69%")
Maruti Suzuki car sales recover in August; up 20% YoY to 116,704 units
Maruti's exports during the month skidded 15.3 per cent to 7,920 units over the last year
 "Maruti Suzuki car sales recover in August; up 20% YoY to 116,704 units")
Escorts Ltd posts best-ever August sales; domestic tractor sales shoot 80%
The company's domestic sales rose to 6,750 units from 3,763 units
 "Escorts Ltd posts best-ever August sales; domestic tractor sales shoot 80%")
Audi launches its fastest SUV RS Q8 in India; price starts at Rs 2.07 crore
The Audi RS Q8 is powered by a turbo 4-litre petrol engine delivering power of 600hp that can accelerate from 0 to 100 kph under four seconds
 "Audi launches its fastest SUV RS Q8 in India; price starts at Rs 2.07 crore")
States can charge fees for granting registration numbers for vehicles: SC
The top court set aside the Madhya Pradesh High Court judgement which had quashed Rule 55A of the Motor Vehicles Rules, 1994 framed by the state government
 "States can charge fees for granting registration numbers for vehicles: SC")
Ducati launches all-new Panigale V2 in India, priced at Rs 16.99 lakh
Italian superbike maker Ducati on Wednesday said it has launched the all-new version of Panigale V2 in India, priced at Rs 16.99 lakh (ex-showroom).
 "Ducati launches all-new Panigale V2 in India, priced at Rs 16.99 lakh")
Two-wheeler makers' shares surge after Sitharaman's comment on GST cut
Shares of two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Company soared after Nirmala Sitharaman's comment that the GST Council will consider the proposal to cut GST on two-wheelers
 "Two-wheeler makers' shares surge after Sitharaman's comment on GST cut")
Honda reaches $85 million settlement over faulty airbags in cars sold in US
Honda has reached an $85 million settlement with multiple states over allegations that it hid safety failures in the airbags of certain Honda and Acura vehicles sold in the US
 "Honda reaches $85 million settlement over faulty airbags in cars sold in US")
Tata Motors group says will cut consolidated debt to zero in 3 years
Company chairman tells shareholders investments are showing results and it's committed to Jaguar and Land Rover in the UK
 "Tata Motors group says will cut consolidated debt to zero in 3 years")
HMSI aims to drive in multiple products in motorcycle segment for expansion
Two-wheeler major Honda Motorcycle and Scooter India (HMSI) aims to expand its bike portfolio in the country as it looks to bring in new set of customers from both rural and urban areas
 "HMSI aims to drive in multiple products in motorcycle segment for expansion")
Indian automakers' demand outlook cloudy despite respite in July: Fitch
The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs
 "Indian automakers' demand outlook cloudy despite respite in July: Fitch")
CRISIL pegs loss for Commercial vehicle makers at Rs 6,000 cr this fiscal
It says a 30 per cent decline in sales volume, on an already weak base, would lead to a nearly six-fold increase in net loss this financial year
 "CRISIL pegs loss for Commercial vehicle makers at Rs 6,000 cr this fiscal")
Commercial vehicle makers to incur Rs 6,000 cr net loss this fiscal: Report
CV makers were already hit by new overloading norms and a slowing economy when the Covid-19 pandemic arrived and sales volume had fallen 29% in the fiscal year ended March 2020
Top-end bike maker Harley-Davidson may exit India due to poor sales: Report
Harley-Davidson India sold fewer than 2,500 units in the last financial year and only about 100 bikes between April-June 2020
 "Top-end bike maker Harley-Davidson may exit India due to poor sales: Report")
Auto component industry faces shortage of skilled labour: Industry leader
Sector employs around 5 million people and it accounts for 2.5 per cent of country's GDP
 "Auto component industry faces shortage of skilled labour: Industry leader")
Mahindra unveils BS6-compliant Thar SUV, to be launched on October 2
Thar offer a 6-speed torque converter automatic transmission or a 6-speed manual transmission mated to "an authentic manual shift-on-the-fly 4x4 transfer case"
 "Mahindra unveils BS6-compliant Thar SUV, to be launched on October 2")
Ashok Leyland shares up 13% post Q1 nos; expects Q3 and Q4 to be better
The company reported a consolidated net loss of Rs 388.82 crore for the first quarter ended June 30 (Q1) as against a net profit of Rs 274.96 crore in Q1FY20
 "Ashok Leyland shares up 13% post Q1 nos; expects Q3 and Q4 to be better")
Covid-19 impact: Hero MotoCorp Q1 net profit falls 95% to Rs 58 crore
The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal
 "Covid-19 impact: Hero MotoCorp Q1 net profit falls 95% to Rs 58 crore")
Mixed reaction to sale, registration of EVs without pre-fitted batteries
SMEV Director General Sohinder Gill said the move to delink batteries from EVs is a good idea
 "Mixed reaction to sale, registration of EVs without pre-fitted batteries")