Page 3 - Auto Demand

Hyundai Motor eyes 30% rise in sales by 2030 as it doubles hybrid lineup

The world's No. 3 automaker by sales, along with affiliate Kia Corp, announced its mid- to long-term goals and strategy at its CEO Investor Day

Auto Bet: Bajaj, M&M, Escorts Kubota may lead August sales, says Nuvama

Within the 2W segment, analysts believe, mass-market original equipment manufacturers (OEMs) such as Honda, Hero Moto Corp, Bajaj Auto, and TVS are anticipated to perform well.

Waning demand expected to hit breakneck rally in India's auto stocks

India's NSE Nifty Auto Index is down 4.1 per cent in August, more than double the decline in the Nifty 50 Index

Sona BLW: Why Nomura thinks auto component firm may surpass industry growth

The electric vehicle (EV) revenue accounted for 33% of total revenue. The company's order book expanded to Rs 23,300 crore in Q1FY25, from Rs 22,600 crore in Q4FY24.

Automobile exports from India rise 15.5% in June quarter, shows Siam data

Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year. Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal. Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year. Two-wheeler exports stood at 9,23,148 units in the first quarter, up 17 per cent as against 7,91,316 units in the year-ago period. Commercial vehicle shipments rose 8 per cent year-on-year to 15,74

Truck rentals dip marginally, used truck prices jump in June: Report

Average price of used commercial vehicles saw a considerable rise across categories in June with 31 to 36-ton category

Will the Indian stock market tank post the Hyundai IPO? What history suggests

Back home, out of the last seven big IPOs to hit the Dalal Street (D-Street) since 2007, the Sensex has lost ground five times post the stocks of these companies debuted at the exchanges

Plans for Hyundai Motor India IPO boosts share price in South Korea

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd

Hyundai Motor, Suppliers Shares Rise in Seoul as India Unit Files for IPO

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd

Sundram Fasteners Q4 results: Net profit surges to Rs 134.41 crore

Auto component maker Sundram Fasteners Ltd has reported its highest ever consolidated net profit for the March 2024 quarter at Rs 134.41 crore on account of strong operational performance. The Chennai-based company had registered consolidated net profit of Rs 127.47 crore, during the corresponding quarter of last year. For the year ending March 31, 2024 the net profit surged to Rs 525.64 crore, as compared to Rs 500.35 crore registered a year ago. Total revenue during the quarter under review grew to Rs 1,477.70 crore, as compared to Rs 1,451.46 crore registered in the same period of last year. For the year ending March 31, 2024, the consolidated revenues remained flat at Rs 5,720.47 crore as against Rs 5,707.60 crore registered in the same period of last year. In a statement on Friday, the company said it reported highest ever profit after tax, EBITDA for the financial year ending March 31, 2024. The Earnings Before Interest, Depreciation and taxes for the year ending March 31, 202

India's consumption story is yet to address the caste discrimination issue

Ages-old bias could also be affecting what traditionally deprived communities earn

Japan's Honda raises electrification investment to $65 bn through FY30

The company, a relative latecomer to electric vehicles, first had to ensure it could reliably procure batteries and achieve cost cuts

Election uncertainty could hurt Indian auto sales in May, says Fada

Analysts say concerns around how a new government's financial policies could affect peoples' income, and could discourage consumers from buying vehicles

M&M, Tata Motors, Maruti Suzuki: What is driving the rally in these stocks?

With 3XO's launch, M&M management aims to be among the top two players in the compact SUV segment over the course of three years

We want fair auto market but no dumping, urges Germany's Scholz in China

"At some point there will also be Chinese cars in Germany and Europe. The only thing that must always be clear is that competition must be fair," Scholz said

Tata Motors reports 8% wholesales increase in February at 86,406 units

Tata Motors on Friday reported an 8 per cent rise in its total wholesales to 86,406 units in February as compared with 79,705 units in the same month last year. The total domestic sales stood at 84,834 units last month against 78,006 units last month, a growth of 9 per cent, Tata Motors said in a regulatory filing. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19 per cent, it added. Total commercial vehicle sales declined by 4 per cent last month to 35,085 units from 36,565 units in February 2023, it added.

CV growth worries, sustainable margin gains key concerns for Bosch

While localisation efforts and margin improvement are medium-term positives, the immediate trigger is the healthy Q3 show

Budget 2024: Allocation for Auto PLI rises over seven-fold to Rs 3,500 cr

The government on Thursday announced an over seven-fold increase in allocation for the automotive industry's production-linked incentive scheme for 2024-25 to Rs 3,500 crore, the interim budget documents showed. According to the Expenditure Budget, a sum of Rs 3,500 crore has been earmarked towards the Production Linked Incentive (PLI) scheme for automobiles and auto components in the financial year beginning March, up from a revised estimate of Rs 483.77 crore in the current fiscal. Additionally, the budget for the PLI scheme for advanced chemistry cell and battery storage has been hiked from Rs 12 crore to Rs 250 crore in 2024-25. The Ministry of Heavy Industries recently extended the tenure of the PLI scheme for automobile and auto components by one year, with incentives now applicable for five consecutive financial years starting 2023-24. The Union Cabinet had approved the PLI-Auto scheme on September 15, 2021 with a budgetary outlay of Rs 25,938 crore for a period of 5 years .

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

The government has constituted a committee to examine the auto industry's demand for including more components in the production-linked incentive scheme for automobile and auto components, Union Minister Mahendra Nath Pandey said. "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. It will be chaired by an Additional Secretary in the Ministry of Heavy Industries and have 11 members including those from testing agencies like ARAI and the auto industry," the heavy industries minister told PTI. The minister was speaking on the sidelines of a conference on Auto PLI here on Tuesday. 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 and incentive will be provided for determined sales for a total of five consecutive financial years, starting from th

Renault to launch upgraded variants of its cars to boost sales in India

Renault and its alliance partner Nissan will pump nearly $600 million in India over the next three years in a bid to boost its sales