Page 26 - Auto Industry

Itaru Otani named new chairman of Yamaha India, brings 30 yrs of experience

India Yamaha Motor on Friday said it has appointed Itaru Otani as the new Chairman. Otani brings over three decades of experience with Yamaha Motor Company, having held key leadership roles across global markets, including Australia, Brazil and Japan, the company said in a statement. Prior to this role, he served as Chief General Manager, leading the Land Mobility Business Operations based out of Japan, it added. "The aspirations of Indian consumers are evolving rapidly, and we see incredible opportunities to bring in products that blend Yamaha's global expertise with the unique needs and desires of Indian riders," Otani said. "Our focus will be on promoting exciting, stylish and sporty two-wheelers that not only align with the market's expectations but also set new benchmarks in design, quality and innovation," he added.

Auto sales see mid-to-high single-digit growth during Navratras; rural lag

Retail sales during the Navratras grew by mid-to-high single digits across regions even as rural sales have remained muted, a brokerage firm said in a report on the automobile sector on Thursday. The report by Motilal Oswal Financial Services also said that during the last week of October, inquiries and bookings are seeing a slight improvement for passenger vehicle OEMs (original equipment makers) especially for Maruti Suzuki and Tata Motors. "We observed varied demand trends in October, with two-wheelers and tractors showing positive momentum and passenger and commercial vehicles witnessing moderate demand. A better monsoon is helping drive positive sentiment in rural regions, though the sustainability of this demand remains to be seen," the brokerage firm said. Overall, two-wheelers performed better, with festive growth expected at 4-5 per cent year-on-year partially constrained by a high base, it said. At the same time, passenger vehicles may see a fall in the festive season ...

EKA Mobility lands Rs 3,000 cr deal to manufacture 1,500 electric buses

Plans to expand operations with Rs 650-cr outlay

Volkswagen AG workers brace for fallout from years of dereliction

The manufacturer plans to close at least three German factories, shrink all other remaining sites in the country and slash wages by 10 per cent for around 140,000 workers

Riding high: Bajaj Auto's CNG motorcycle races ahead with record sales

Registrations highest since Freedom 125 was launched in July this year

Deferred tax pulls down Honda Cars's net profit by 53% to Rs 661 crore

During the two Covid-affected years of FY20 and FY21, the company's net loss stood at Rs 1,672.2 crore and Rs 1,587.5 crore, respectively, according to documents

Uber Auto and Moto services to drive Rs 36k cr in economic activity in 2024

In 2024, a report compiled by consultancy Public First, estimates that driver-partners earn an additional 60% a year in higher income through Uber, relative to their next best alternative type of work

Hyundai Motor India confirms plans to launch hybrid vehicles soon

Also plans to expand EV portfolio and production capacity

VW, BMW and, Mercedes getting left behind in auto race by China's EVs

The latest warning signs came last week, when all three German manufacturers reported slumping third-quarter sales in China

SUV makers hit with Rs 10,000 cr tax notices: Row over GST cess explained

The GST authorities have sent notices to most automakers for the alleged non-payment of the SUV sales cess between the financial years 2018 and 2022

Passenger vehicle sales growth expected to be below 5% in FY25: Siam Prez

May and June affected us badly, says Shailesh Chandra

Despite exit, Ford gives a tough ride to peers in the used car market

Now, three years since Ford's exit, the used car market is seeing higher demand for Ford vehicles

Why Samir Arora thinks investing in Auto industry is a 'Ridiculous Trade'?

Ahead of the opening of the much-awaited Hyundai Motor India IPO, Samir Arora of Helios Capital has shared his outlook on the auto industry. Here's what the market expert thinks

MHI seeks ARAI's comments on consumer grievances against Ola Electric

The notice from CCPA came in response to 9,948 consumer complaints registered against Ola Electric between September 1, 2023, and August 30, 2024, on the National Consumer Helpline

Passenger vehicle sales drops 19% in September, inventory hits record high

Fada, however, said that the near-term outlook for automobile retail is cautiously optimistic as both Navratri and Diwali fall in the same month, creating strong expectations for a surge in sales

Festival fillip: Car dealerships see four-fold increase in footfall

Dealer sources claimed that even enquiries and bookings are up by 3-4 times when compared to the last 2-3 months

China's loss may be Indian companies' gain in electric vehicle race

Li-ion cells may become cheaper after punitive tariffs imposed by the US

BMW India targets to double electric vehicle penetration by next year

BMW Group India has achieved its best-ever year-to-date car sales, with a 10 per cent growth in the first nine months of calendar year 2024

Nissan studies hybrid and CNG market in India, no immediate launch plans

Nissan previously announced that it is going to launch an "affordable" EV by 2026

Carmakers expand dealerships to boost sales: Do they have right products?

India's passenger vehicle market is the third largest in the world now, at more than 4 million units a year, but car ownership remains low