Page 67 - Auto

Electric 2W, 3W companies likely to face retest for FAME-III scheme

Re-certification needed for all models; EMPS may be extended for two more months

Govt extends Electric Mobility scheme, increases outlay to Rs 778 crore

The scheme was launched by the Ministry of Heavy Industries in March this year and aims to boost the adoption of electric vehicles (EVs) across the country

Under pressure in China, Mercedes-Benz trims 2024 car profit outlook

The company said it now expected an adjusted return on sales in the range of 10-11 per cent this year, down from its previous target range of 10-12 per cent

Bajaj Auto receives 6,000 orders for its newly-launched CNG motorbike

Bajaj Freedom, a sports motorcycle with a 124 cubic capacity engine, was launched earlier this month with a starting price of Rs 95,000

Auto component industry turnover up 10% at Rs 6.14 trn in FY24: ACMA

The turnover of the automotive component industry rose by 9.8 per cent year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday.

South Korea's Hyundai Motor posts record Q2 profit on strong US sales

The automaker, however, warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers

Porsche India retail sales increase 40% to 489 units in Jan-June period

Two new Porsche all-electric sportscars, the Taycan and Macan, are available to order now, with deliveries in India planned to commence from early 2025, the company stated

Customs duty exemption on lithium, cobalt to aid EV sector growth: Auto Inc

Hero MotoCorp Executive Chairman Pawan Munjal said the Budget positions India as a technology-driven and knowledge-driven economy, reaffirming commitment to sustainable development

As Volkswagen struggles in China. Can EVs help it grow in US market?

By 2030, Volkswagen plans more than 30 new electric or hybrid models in China and hopes to boost sales to about 4 million, from about 3 million today, lifting its market share to 15 per cent

PLI for auto sector sees investment proposals worth Rs 67K cr: Eco Survey

The PLI scheme for automobile and auto components has a budgetary outlay of Rs 25,938 crore from FY23 to FY27

Suzuki expects India's automobile market to grow fivefold by 2047

A total of 4.2 million passenger vehicles were sold in India in the fiscal year ended in March, according to the Society of Indian Automobile Manufacturers

Rural two-wheeler demand roars back to life in first half of 2024

Favourable monsoon, govt initiatives may sustain the trend, say experts

NHAI to charge double toll from vehicles with non-affixed FASTag on front

NHAI said deliberate non-affixation of FASTag on the windscreen leads to unnecessary delays at the toll plazas causing inconvenience to fellow National Highway users

Indian states are inviting Tesla's component suppliers to lure the EV maker

States like Gujarat and Tamil Nadu are competing to attract Tesla's component suppliers, hoping that a robust local supply chain will convince the EV maker to establish operations in their regions

FAME-III to be implemented soon, final plan ready: HD Kumaraswamy

The second phase of the ambitious Rs 11,500 crore scheme ended on March 31. The scheme incentivised more than 1.6 million vehicles since its launch in April 2019

Auto industry needs 200K skilled people by 2030 to meet 30% EV target

The report pointed out that 43 per cent of technical competencies between Internal Combustion Engine (ICE) and EV have minimal overlap

Elon Musk may delay in Aug 8 robotaxi unveil event to make design change

Tesla shares had been down more than 40% earlier in the year, but are up more than 80% since hitting a 52-week low in April

Auto ancillaries bet on e-mobility to drive growth in FY25: Analysts

Analysts predict moderation in growth to 5-7% in FY25

India's automobile retail sales post 9.4% growth in Q1, shows FADA data

The overall sales were seen at 6.19 million during the quarter under review, compared to 5.66 million during the first quarter of 2023-24

Automobile retail sales rise 9% in June quarter, PV sales up 2.53%: Fada

Overall retail sales rose to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24