Auto Industry

Three-wheeler sales in India likely to grow 6-8% in FY26, says SIAM

FY25 likely to end with a 5-8% growth in volumes

Trump's tariff to impact Indian auto parts makers more than vehicle makers

Indian auto component makers are more likely to be impacted than their vehicle manufacturing counterparts by US President Donald Trump's tariff war, industry observers said on Thursday. Trump on Wednesday announced imposition of 25 per cent tariffs on auto imports from April with another 25 per cent tariffs expected to be applied on imports of major automotive parts -- engines and engine parts, transmissions and powertrain parts, and electrical components by May. "It is the Indian auto components industry that is more likely to face the heat due to the US tariff as exports from here to the US are significant. "Indian vehicle makers are less likely to be impacted as there are no direct exports of fully built cars from India to the US," an industry executive told PTI on the condition of anonymity. According to industry estimates, India's auto component exports to the US was USD 6.79 billion in FY24, while the country's imports from the US stood at USD 1.4 billion at 15 per cent duty.

Demand dip: Switch Mobility UK likely to shut down its Sherburn plant

The company is expecting to double its bus sales from around 450 this financial year to around 1,000 next financial year, owing to a rise in demand in the Indian market

Ashok Leyland may shut loss-making electric bus plant in the UK

The company said it would review the feasibility of the plant in Sherburn, North Yorkshire in a consultation process with employees

Tepid vehicle sales, competition weigh on motor vehicle insurance premiums

The overall motor insurance premium stood at Rs 89,405.56 crore in the April-February period of FY25

M&M in talks to acquire Sumitomo Corporation's stake in SML Isuzu

Sumitomo holds 44% in SML Isuzu; current stake valued at Rs 1,100 cr; deal may happen at a discount to current trading price

Mercedes may raise car prices in April if rupee weakens against euro

Mercedes-Benz India may increase prices of its model range in April, if the rupee continues to weaken against the euro, Managing Director & CEO Santosh Iyer said on Tuesday. The company, which took a price hike in January this year, also expects the luxury car sales to remain under stress for at least two quarters with muted demand. "When we look at the exchange rate, it has really been a bit concerning in the last 20 days because the euro has already reached 95 levels, and we have priced the cars at 90 (rupee level). So there's a significant increase in this, and that may lead to price increase if this continues from April," Iyer told reporters here. Euro's exchange rate in terms of Indian rupee has been witnessing a continuous fall this year. From the level of 89.96 on February 12, the exchange rate hit the record low of 95.13 against a euro on March 12, according to RBI data. A euro was valued at Rs 94.55 as on Tuesday. The company needs to react to any averse fluctuations in .

Steelbird targets 3-fold revenue growth by 2030; to expand production

Steelbird now manufactures 10 million units at its Baddi facility, which it aims to take up to 25 million by 2032, besides adding another facility in the state in the next four years

PV sales to end FY25 flat with 3.82 mn units sold in wholesale till Feb

Auto industry braces for sluggish growth in FY26 amid affordability concerns

Uber partners with Refex Green Mobility to deploy 1,000 EVs by 2026

Ride-hailing app Uber on Tuesday said it has tied up with Refex Green Mobility to deploy 1,000 electric vehicles across key cities by 2026, furthering its efforts to boost electric vehicles on its platform. The collaboration aligns with Uber's global objective of providing 100 per cent emission-free rides by 2040, the company said in a statement. The deployment will see electric four-wheelers onboarded onto the Uber platform across Chennai, Hyderabad, Bengaluru, and Mumbai, it added. "Uber is committed to accelerating the shift to zero-emission mobility in India, and this partnership with Refex eVeelz is a significant step in that direction," said Aditya Kapoor, Head, Supply and Electrification, Uber India and South Asia. The company remains focused on removing barriers to EV adoption and driving the transition to a greener future through partnerships to build a sustainable future for all, he added. "This collaboration, in addition to our currently existing B2B as well as B2C ...

Mahindra at number two: Tech development, EV plans to drive its future

125-acre campus of Mahindra Research Valley in Tamil Nadu fuelling company's innovations

India's auto parts companies eye a bigger share of the export market

An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently

Hyundai's Rs 31,526 crore related-party transactions under scrutiny

Proxy advisory firms divided over supporting the transactions

Electric vehicle sales down 1.9% in February due to challenges: Fada

While all four categories of EVs registered double-digit M-o-M declines in sales, three-wheeler, commercial, and passenger vehicles saw single-digit Y-o-Y growth

Ultraviolette hits the gas, to come out with 10 new e 2-wheelers in 3 years

At present they can make 10,000 two-wheelers a year, easily scalable up to 30,000 units a year in three shifts

Microchip Technology to lay off 2,000 employees amid weak automotive demand

The company expects to incur between $30 million and $40 million of costs related to the layoffs, consisting of cash severance and related restructuring expenses

Here's why Chinese EV makers are facing reality check in Southeast Asia

While Southeast Asia's upwardly mobile population may aspire to own EVs, the still-pricey cars are beyond the reach of many

Ola Electric sells 25,000 units in February, grabs 28% market share

Ola Electric on Friday said it sold 25,000 units in February and reached a market share of over 28 per cent, cementing its leadership in the electric two-wheeler segment. The company achieved the sales milestone on the back of S1 portfolio and sales-and-service network of 4,000 stores across the country, Ola Electric said in a statement. "We have successfully maintained a strong sales momentum and leadership position through the month of February," a Ola Electric Mobility spokesperson said. Owing to a wide scooter portfolio across mass and premium segments, and sales network of 4,000 stores across India, the company is now witnessing a strong uptick in demand beyond urban cities, the spokesperson added. "With our Roadster X deliveries scheduled next month, we are confident of further accelerating the EV adoption across the 2W category in India," the company spokesperson stated. The company said it has recently announced the renegotiation of contracts with its vehicle registration

Tesla entry not a major threat to electric vehicle OEMs, says CLSA

Even if Tesla launches a BEV at $25,000, CLSA feels that features and specifications would be 'meaningfully compromised' compared to its traditional models

Kinetic's EV component biz will be up to Rs 1.5K cr in 4 years: Firodia

Firodia talked about his plans for the EV-components business, and the components business at large for the group