Page 24 - Auto Industry

Hybrids preferred choice, offer best of both worlds: Lamborghini executive

The divide within the auto industry recently came to the fore after a July 5 order by the Uttar Pradesh government to waive a registration tax of 8-10 per cent for strong hybrid vehicles

How 2W market incumbents Bajaj and TVS are flexing their electric muscle

Bajaj and TVS appear to have picked up the gauntlet, taking on Ola in the sub-Rs 1 lakh e2W market - a segment they had kept away from and where Ola reigned supreme

Siam to address soaring inventory concerns in executive committee meeting

As inventory levels have surged to a high of 67-72 days, equating to Rs 73,000 crore worth of stock, the situation is raising alarms about the financial stability and sustainability of dealerships

JSW MG Motor expects 250% EV sales growth in 2024, says Rajeev Chaba

While JSW MG Motor remains optimistic, electric car sales in India have declined over the past three months

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

In a first: CNG passenger vehicles ride past diesel in sales race

The share of CNG in the overall passenger vehicle market increased from 13.63 percent in June 2023 to 18.5 percent in June 2024

As EV subsidies transition from FAME to EMPS, how is the industry coping?

The industry witnessed a decline after the expiry of FAME-II, despite the introduction of EMPS

Speed bump: Domestic passenger vehicle sales slip amid inventory pile-up

Two-wheeler sales grow in double digits

JLR unlikely to leverage EV policy for now: Tata Motors on new EV policy

Expects incentives for 4W fleet to continue in FAME III

Tata Motors Q1 FY25 results: Net profit jumps 74% to Rs 5,566 crore

The revenue from operations for the April-June quarter was up 5.7 per cent to Rs 107,316 crore

Ola Electric IPO: E2W maker raises Rs 2,763 cr from anchor investors

Investors include SBI MF, Templeton, Amundi, Goldman Sachs

Toyota to set up mfg plant in Maharashtra; likely to invest Rs 20k cr

Automaker Toyota Kirloskar Motor on Wednesday said it will set up a new manufacturing plant in Maharashtra at an investment of around Rs 20,000 crore. The company has inked a Memorandum of Understanding (MoU) with the Maharashtra government to examine the setting up of a greenfield manufacturing facility at Chhatrapati Sambhaji Nagar, Toyota Kirloskar Motor (TKM) said in a statement. Headquartered in Karnataka, TKM already has two manufacturing units located at Bidadi near Bengaluru. In Karnataka, the automaker, including its group companies, has invested more than Rs 16,000 crore and created close to 86,000 jobs in the entire value chain, it said. Toyota's cumulative export contributions also stand at around Rs 32,000 crore thus representing the company's export focus, it added. "Today's MoU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally,"

Since Japan launch, Honda Elevate exports nearly double of India sales

Between April and June 2024 Honda exported 10,659 units of the Elevate meanwhile it sold 5,435 units of the Elevate in Indian market

Maharashtra, Tamil Nadu lead the race for Tesla's manufacturing unit

Gujarat also in list, if govt rolls out sops; in talks to rope in local partners

Steeling a march: Big Boys of steel pushing pedal to drive future mobility

From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up

Tata Motors looks to drive into mid-SUV space with Curvv SUV Coupe

Curvv will be launched with the EV version, and within a month the ICE versions will come. EV customers also want a higher range

Auto industry wants CVs to be a part of FAME scheme: Dheeraj Hinduja

Hinduja talks about the Red Sea crisis, the Faster Adoption and Manufacturing of Electric (And Hybrid) Vehicles (FAME) scheme, and industry growth this fiscal year

India's auto components industry still reeling from Red Sea crisis

The Indian auto component industry exported items worth $21.2 billion in 2023-24, marking a five per cent year-on-year growth, he noted

Auto component industry turnover up 10% at Rs 6.14 trn in FY24: ACMA

The turnover of the automotive component industry rose by 9.8 per cent year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday. The industry had reported a turnover of Rs 5.59 lakh crore in the 2022-23 financial year. Component supply to OEMs (original equipment manufacturers) in the domestic market grew by 8.9 per cent to Rs 5.18 lakh crore, with supply to the EV manufacturing industry accounting for 6 per cent of the total component production in the country, the Automotive Component Manufacturers Association of India (ACMA) stated. Exports grew by 5.5 per cent year-on-year to USD 21.2 billion in the last fiscal while imports grew by 3 per cent to USD 20.9 billion, thus resulting in a trade surplus of USD 300 million, it stated. The aftermarket, estimated at Rs 93,886 crore, also witnessed a growth of 10 per cent in FY24, ACMA said. "It is pertinent to note that apart from an increase in vehicle production, higher value additio

Ashok Leyland Q1 FY25 results: Net profit declines 6% to Rs 509 crore

While the company achieved its highest-ever Q1 CV volumes, the Power Solutions, Aftermarket, Defence business, and the International Operations also contributed strongly to the top line