Page 84 - Auto
Tata cuts EV prices by up to Rs 1.2 L to pass on battery price reduction
Indian automaker Tata Motors' electric vehicle (EV) unit on Tuesday said it reduced prices of its cars by up to 1,20,000 rupees ($1,445.54) to pass on battery price reduction benefits to its customers
 "Tata cuts EV prices by up to Rs 1.2 L to pass on battery price reduction")
Top 5 SUVs sold in January 2024, Tata Punch tops chart; check the full list
Top 5 SUVs sold in January 2024: Tata Punch sold the highest number of SUVs in India in January 2024. The company sold around 17,978 units last month
 "Top 5 SUVs sold in January 2024, Tata Punch tops chart; check the full list")
Expect some impact on costs due to ongoing Red Sea crisis: Maruti Suzuki
The lead time of dispatches might change, and there may be some uncertainty in vessels coming and picking up their consignments, among others, he noted
 "Expect some impact on costs due to ongoing Red Sea crisis: Maruti Suzuki")
Red Sea crisis disrupts Audi India's supply chain, firm eyes recovery soon
Container vessels have been facing attacks in the Red Sea, one of the most important trade routes in the world, since November last year following Israel's war against Hamas
 "Red Sea crisis disrupts Audi India's supply chain, firm eyes recovery soon")
Jindal-owned JSW plans to produce EVs in Rs 40,000 cr investment push
Sajjan Jindal keen to produce Made in India electric car/CVs
 "Jindal-owned JSW plans to produce EVs in Rs 40,000 cr investment push")
Ashok Leyland progressing in network expansion in North & East: Official
Ashok Leyland to fuel its network expansion plans, has tied up with the diversified conglomerate TVS Group
 "Ashok Leyland progressing in network expansion in North & East: Official")
EV two-wheeler sales breach FY23 figures despite cut in FAME-II subsidy
According to the Centre, 734,760 EV two-wheelers have been registered so far in the financial year 2023-2024 period (FY24), nearly 6,400 more units compared to FY23
 "EV two-wheeler sales breach FY23 figures despite cut in FAME-II subsidy")
Honda results: Profit up 3.5% in Dec quarter on back of strong US demand
Tokyo-based Honda Motor Corp's profit in the last quarter was 253.3 billion yen, or USD 1.7 billion. Quarterly sales jumped 21 per cent to 5.39 trillion yen (USD 36 billion)
 "Honda results: Profit up 3.5% in Dec quarter on back of strong US demand")
After brisk start, electric vehicle penetration loses momentum in FY24
Electric two-wheelers, which were expected to lead the charge, are a case in point, especially after the government sharply cut back the subsidy given to manufacturers in the middle of last year
 "After brisk start, electric vehicle penetration loses momentum in FY24")
Declining raw material prices help to boost tyre makers' profitability
Among raw materials used by the tyre industry, Brent crude oil prices saw a 6 per cent drop year-on-year
 "Declining raw material prices help to boost tyre makers' profitability")
Tax implications likely to influence Hyundai's decision to list Indian arm
Hyundai Motor is exploring an initial public offering (IPO) of its Indian unit to raise around $3 bn (at a valuation of up to $30 bn), according to sources
 "Tax implications likely to influence Hyundai's decision to list Indian arm")
Toyota Motor hikes annual profit forecast after Q3 beats expectations
TOKYO (Reuters) -Toyota Motor raised its full-year operating profit forecast by nearly 9% on Tuesday, after higher sales volumes and a weaker yen boosted its third-quarter results
 "Toyota Motor hikes annual profit forecast after Q3 beats expectations")
Toyota boosts spending on EV production in United States by $1.3 billion
Toyota has taken a more cautious approach to introducing fully electric vehicles than peers such as Volkswagen AG and General Motors Co
 "Toyota boosts spending on EV production in United States by $1.3 billion")
General Motors recalls 323,000 pickup trucks in US because of glitch
The recall covers certain Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks from the 2020 through 2024 model years
 "General Motors recalls 323,000 pickup trucks in US because of glitch")
Honda Motor to recall over 750,000 vehicles in United States: NHTSA
The recall includes certain Honda Pilot, Accord and Civic sedan made between 2020 and 2022, and some Honda CR-V and Passport vehicles manufactured between 2020 and 2021
Bullish on India; luxury car penetration expected to remain low: Audi
Audi expects growth of the luxury car market in India to moderate to low double digits in 2024 compared to around 25 per cent in 2023
 "Bullish on India; luxury car penetration expected to remain low: Audi")
Hybrid vehicles seen racing ahead in auto battle on possible tax sop
Hybrids, which combine a battery with an internal combustion engine (ICE), usually petrol, are cheaper and suffer no range anxiety while boosting the overall fuel efficiency.
 "Hybrid vehicles seen racing ahead in auto battle on possible tax sop")
Only 38% of Fame 2 subsidy used so far in FY24, shows govt data
In 2023-24, according to MHI, the budgeted allocation was Rs 5,171.97 crore
 "Only 38% of Fame 2 subsidy used so far in FY24, shows govt data")
Hyundai Motor India may launch India's largest IPO ever this Diwali
At the upper band, the valuation of Hyundai India would be around Rs 23.3 trillion, more than Mahindra & Mahindra and Bajaj Auto
 "Hyundai Motor India may launch India's largest IPO ever this Diwali")
Tata Motors shifts into high gear with Jaguar Land Rover at the wheel
DRIVING FORCE: UK subsidiary powers growth for India's auto leader amid domestic uncertainty
 "Tata Motors shifts into high gear with Jaguar Land Rover at the wheel")