Page 3 - Auto Industry India

Auto component industry grows 11% to Rs 3.32 trillion in Apr-Sep: Acma

The automotive components industry grew 11 per cent year-on-year to Rs 3.32 lakh crore in the first half of the current fiscal, industry body ACMA said on Thursday. The turnover of the automotive component industry in the April-September period of last fiscal stood at Rs 2.98 lakh crore. "With vehicle sales across all segments reaching pre-pandemic levels and despite geopolitical challenges on the exports front, the auto components sector witnessed a steady growth in both domestic and international markets in the first half of FY2024-25," Automotive Component Manufacturers Association of India (ACMA) President Shradha Suri Marwah said. She said the festive season brought significant sales across most segments of the vehicle industry. "However, reflecting on the past eight months of this fiscal year, while two-wheelers have shown promising growth, sales of passenger vehicles and commercial vehicles have been relatively moderate," she added. On the exports front, with geological ...

Exide Industries Q2 result: PAT falls 13.66% to Rs 233.4 cr on higher costs

Battery maker Exide Industries Ltd on Monday reported a 13.66 per cent decline in consolidated profit after tax at Rs 233.4 crore in the September quarter, impacted by higher expenses. The company had posted a consolidated profit after tax (PAT) of Rs 270.32 crore in the same quarter last fiscal, Exide Industries Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review was at Rs 4,450 crore compared to Rs 4,371.52 crore in the year-ago period. Total expenses were higher at Rs 4,157.63 crore against Rs 4,043.57 crore in the same quarter a year ago, the company said. In the second quarter, the two-wheeler and four-wheeler replacement markets experienced robust demand, leading to double-digit revenue growth, it added. Industrial-UPS and solar also enjoyed strong demand momentum during the quarter. However, the demand scenario was soft in the home-UPS segment due to the early onset of monsoons, Exide Industries said. On the export front, the .

Maruti Suzuki passenger car output falls 16%, utility vehicle rises 33%

Car market leader Maruti Suzuki India cut production of its passenger cars by 16 per cent last month but increased those of utility vehicles by 33 per cent compared to October 2023, according to a regulatory filing by the company. Its passenger cars production stood at 89,174 units last month against 1,06,190 units in October 2023, down 16 per cent, Maruti Suzuki India said in the filing. On the other hand, production of utility vehicles, including Brezza, Ertiga, Fronx, Jimny, XL6 and those supplied to Toyota Kirloskar Motor, rose 33.18 per cent to 72,339 units from 54,316 units in the year-ago month. Production of mini cars comprising Alto and S-Presso was down at 12,787 units last month against 14,073 units in October 2023. Similarly, production of compact cars Baleno, Celerio, Dzire, Ignis, Swift, WagonR and those supplied to Toyota Kirloskar Motor were lower at 75,007 units compared to 90,783 units in the same month last year. Mid-sized sedan Ciaz saw production inched up ...

Tata Motors dips 3% on heavy volumes; stock down 13% so far in September

TML Securities Trust sold 11.5 million new ordinary shares on the stock exchanges today for the purpose of distribution of fractional share entitlement as well as towards tax liabilities.

Hero MotoCorp up 3%, at record high on positive outlook; zooms 95% in 1 yr

Hero MotoCorp stands to gain with rural growth expected to drive up demand in the two-wheeler market, particularly in the commuter segment.

Micro SUVs gain ground in India, with sales soaring 72% in early FY24

Hyundai Exter and Tata Punch, priced under Rs 10 lakh, saw a 72 per cent sales jump in the first four months of FY24, far outpacing the 1.8 per cent growth in overall domestic passenger vehicle sales

Shifting gear: PV inventory surges even as auto retail sales rise

Pileup shoots to historic high, equating to Rs 73,000 cr worth of stock

Car dealers may be staring at inventory stockpile exceeding 400,000 units

Automobile manufacturers said a record inventory of 400,000 vehicles valued at Rs 44,000 crore can be expected by the end of May due to less demand

Bosch Q4 results: Net profit rises 42% to Rs 564 crore, revenue up 4.2%

Bosch Q4 FY24 results: The board recommended a final dividend of Rs 170 per equity share of Rs 10 each. The final dividend, if declared, will be paid on or after August 13, 2024

TVS Motor Q4 result: Net profit up 15% to Rs 387 cr, revenue jumps 25%

TVS Motor Q4 result: The company's revenue from operations jumped to Rs 10,042 crore in Q4FY24 compared with Rs 8,031 crore in the fourth quarter of FY23

India to act as automaker Toyota Motor Corporation's regional Hub

Japanese auto major Toyota Motor Corporation on Friday announced a regional restructuring with India being integrated into its 'Middle East, East Asia & Oceania Region' operations and slotting the country to act as the hub of the new geography. As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) -- the company's joint venture in India with the Kirloskar group -- will concurrently be the Regional CEO, Toyota Motor Corporation (TMC) said in a statement. "Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new 'India, Middle East, East Asia & Oceania Region' starting January 1, 2024," it said. TMC further said, "The new reorganisation, which underlines the growing significance of India in Toyota's global business landscape, reflects the ...

From budget to luxury, cars to get more expensive from January 2024

The carmakers cited high cost pressure, driven by overall inflation and increased commodity prices, behind the price hike plans

Amid strong festive demand, car dispatches likely to make new record in Oct

Car sales have broken the sales record for a third straight month in October

Tata Motors sets up 2 R&D facilities on H2 fuel tech, including ICE

In January this year, Tata Motors set an ambitious target of achieving net-zero emissions by 2045

Two-wheeler exports fell by 20% to 1.69 mn units in H1 of FY24: Siam

The ongoing Russia-Ukraine war, which began in February 2022, has created significant volatility in global fuel prices, further straining developing economies already weakened by the pandemic

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Triumph Scrambler 400 X debuts in India, check price, features, and more

Triumph Scrambler 400 X made its debut in India, and interested buyers can book their motorcycles with a refundable amount of Rs 10,000. Check all the features, specifications and price

Indian PV market to nearly double in size by FY31: Maruti MD Takeuchi

Automobile businesses need to be 'reviewed, re-aligned' for higher scale of operations, he says

Car sales zoom to new high in August, signal strong festival show

GST collection, manufacturing activities robust, too

Govt working to make India a global automobile manufacturing hub: Gadkari

The government is working towards making India a global automobile manufacturing hub and the domestic industry is expected to be worth Rs 15 lakh crore in the near term, Union Minister Nitin Gadkari said on Tuesday. Virtually inaugurating Tata Motor's vehicle scrapping facility in Jaipur, Gadkari said the automobile sector currently contributes to 7.1 per cent of the nation's GDP with the industry size at around Rs 7.8 lakh crore. "The auto sector gives direct and indirect employment to around 4 crore people and this number is expected to grow to 5 crore by 2025. I am working with a target to make India number one global automobile manufacturing hub and to take its size to Rs 15 lakh crore in the near future," he noted. Gadkari noted that the scrappage policy enables removal of older and unfit vehicles and introduction of new lesser polluting vehicles in a phased manner. "It is estimated that the automotive demand generated by the scrapping policy will lead to additional GST revenu