Page 85 - Auto

Average selling price of passenger vehicles in India up by 50% in 5 years

ASP has gone up from Rs 7.65 lakh in 2018-19 to Rs 11.5 lakh in 2023-24, according to the industry. Premiumisation, changing regulatory norms and SUV craze lead to price hikes

Hyundai buys GM's Talegaon plant, will invest Rs 6,000 cr in Maharashtra

Plant will be 'catalyst' in achieving Hyundai India's target of achieving one million annual production capacity, says company

Ford reduces production of F-150 Lightning pickup truck as EV demand slows

The announcement is the latest sign of softening demand for EV trucks. General Motors in October postponed the opening of a $4 billion electric truck plant in Michigan for a year

Subsidy withdrawal on EVs may lead to stagnated growth: Ather Energy CEO

In June last year, the central government has already reduced the subsidy amount on electric two-wheelers to Rs 10,000 per Kwh from Rs 15,000 per Kwh

Rolls-Royce Spectre EV to debut in India on Jan 19; all details inside

Rolls-Royce is set to make a momentous entry into the Indian electric vehicle market with the official launch of its first electric vehicle, the Spectre, booked for January 19, 2024

Retrofitting saves 29% for buses, 24% for trucks compared to new EVs

According to the findings, retrofitting extends the lifespan of vehicles by 8-10 years and offers a faster payback compared to new electric vehicles (EVs)

Mahindra expects to sustain growth momentum in SCV segment in FY25

The Supro, initially launched in 2015, has emerged as a versatile platform catering to the evolving needs of customers, the company said

Bounce Infinity partners with SUN Mobility to deploy 30,000 e-scooters

Electric scooter-maker Bounce Infinity on Thursday said it has partnered with SUN Mobility under which the latter will deploy Bounce Infinity's 30,000 e-scooters in key markets across the country

Govt yet to decide on lower import taxes on EVs as local cos resist Tesla

India's domestic automakers are concerned about the possibility of Tesla entering the market - and government plans to give incentives to Tesla and other global carmakers

Govt may support initiatives to retrofit old vehicles into EVs: Report

The government may look for providing incentives or supporting initiatives to retrofit old vehicles into electric vehicles instead of scrapping them, a report said on Thursday

Govt to examine demands for inclusion of more components in Auto PLI: Min

'A committee has been constituted to examine demands from stakeholders to include more (automotive) components in the scope of the PLI scheme as technology keeps evolving,' Mahendra Nath Pandey said

Panel to examine industry's components inclusion demand in Auto PLI

Considering the need of the auto industry, the ministry has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year

Auto sector will contribute to India's rise as 3rd largest economy: Pandey

The Ministry of Heavy Industries is overseeing the Rs 25,938 crore Production Linked Incentive (PLI) scheme for Automobile and Auto Components (PLI-AUTO Scheme)

FASTags with incomplete KYC to be deactivated after Jan: How to update info

FASTag, operated by the NHAI, is an electronic toll collection system in India that uses Radio Frequency Identification technology for making toll payments

Hyundai expects SUVs to account for 65% of its total volumes in 2024

Hyundai Motor India expects sports utility vehicle sales to account for 65 per cent of its overall volumes in 2024, the company's COO Tarun Garg said

Maruti Suzuki India hikes prices by around 0.45% across models from Jan 16

Maruti Suzuki price hike: The company's announcement followed as several automakers have announced that they will increase prices due to rising input costs and other factors

Automobile major Maruti Suzuki hikes prices by 0.45% across models

Maruti Suzuki India on Tuesday said it has increased prices of its entire model range with immediate effect

Volkswagen Group's auto sales up 8% in India, reached 145,713 units in 2023

Exports grew 32 per cent year-on-year with 44,248 units shipped from India, underlining the company's expanding global reach

Toyota aims to produce about 10.3 million vehicles globally in 2024

Toyota is preparing to increase production thanks to strong sales of hybrid vehicles. The shortage of automotive semiconductors and other components is also easing, the Nikkei said

Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM

Hyundai last year bought the General Motors factory in Talegaon, which has stood idle for years after the US company struggled to sell it off following its exit from the country