Page 29 - Auto Industry

Swedish automaker Volvo Cars abandons target of going all electric by 2030

Major automakers have seen slowing demand for EVs partly due to a lack of affordable models and the slow roll-out of charging points

FAME-III will be rolled out in next two months: Union minister Kumaraswamy

The minister mentioned that the government is taking a comprehensive approach to boost the EV ecosystem

Kia tops Fada's overall customer experience index in mass-market space

In the luxury segment, Audi takes the top spot

Maruti to drive deep into small towns via Arena Satellite showrooms

Banerjee said that in the digital era, there is no real divide between urban and rural. However, in Tier-II and Tier-III cities, there is an affinity for hatchbacks

TVS Motor sales up 13% in Aug at 391,588 units; exports grow by 13%

TVS Motor Company on Sunday said its total sales increased 13 per cent year-on-year to 3,91,588 units in August as compared with the same month last year. The company had dispatched 3,45,848 units to its dealers in the same month last year, TVS Motor Company said in a statement. Total two-wheeler sales last month stood at 3,78,841 units as against 3,32,110 units recorded in August 2023, a growth of 14 per cent. Two-wheeler sales in the domestic market grew 13 per cent year-on-year to 2,89,073 units last month from 2,56,619 units in August 2023. Total exports registered a growth of 14 per cent with sales increasing from 87,515 units in August last year to 99,976 units last month.

Maruti Suzuki total sales dip 4% year-on-year to 181,782 units in August

Maruti Suzuki India on Sunday reported a 4 per cent year-on-year decline in total sales in August at 1,81,782 units. The company had dispatched 1,89,082 units in the same month last year, Maruti Suzuki India (MSI) said in a statement. Total domestic passenger vehicle wholesales were at 1,43,075 units last month as compared with 1,56,114 units in the year-ago month, a dip of 8 per cent, it added. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis and Swift, declined 20 per cent to 58,051 units as compared with 72,451 units in the year-ago month. Utility vehicles, consisting of Grand Vitara, Brezza, Ertiga, Invicto, Fronx and XL6, clocked sales of 62,684 units last month as compared to 58,746 units earlier. Sales of Eeco were at 10,985 units last month as against 11,859 units in the year-ago period, while that of light commercial vehicle Supe

Bajaj Auto looks to pip TVS to second spot in electric 2-wheeler market

The Pune-based giant, which was trailing far behind TVS just two months ago in e-two-wheelers (e2Ws), has upped the ante

Italian carmaker Maserati banking on entrepreneurs to drive India story

Maserati, which currently operates just a single dealership in India, sold less than 50 cars in the country in 2023

Bullish on Indian market potential for super luxury cars: Aston Martin

British super luxury carmaker Aston Martin is bullish on the Indian market and is looking to expand its footprint to tap the growing demand which is coming even from Tier II and III cities, according to a company official. The company, which on Thursday launched its all-new Vantage model in India priced at Rs 3.99 crore, plans to continue to bring models to the country simultaneously with the global launch. "India is a very important and a promising market and hence you would see that they (Aston Martin) are launching all the models which are available globally in India as well," Aston Martin New Delhi Vice President - Operations, Anand told PTI here on the sidelines of the launch. Aston Martin New Delhi is the official importer of Aston Martin cars to India. "Next week, on September 2, we are launching (globally) our V12 flagship, which is going to be under wraps on what it is going to be called... And for the first time, that car will also be available immediately for the Indian

BS@50: Climate change of another kind in India Inc's 50-year journey

India Inc waded through a stifling 'external environment' and unbridled competition. But Big Govt refuses to go away

Auto majors to offer discount on new vehicles against scrappage certificate

Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry. "During this interaction, responding positively to the advice of the minister RT&H and recognising the importance of Fleet Modernisation and Circular Economy, multiple Commercial Vehicle Manufacturers and multiple passenger vehicle manufacturers have agreed to offer discounts for a limited period against a certificate of deposit (Scrappage Certificate)," the statement .

Will have 10 days' dealer stock by year-end: Maruti Chairman R C Bhargava

Currently, Maruti dealers hold inventory for 38 days

Japanese Pioneer plans to scale up biz with Indian automakers for future

Japanese car audio and entertainment system maker Pioneer on Tuesday said it is eyeing partnerships with automakers in India as part of its future growth strategy. The company globally works with various automakers as a supplier of automotive items like infotainment systems, speakers etc. In India, however, the company's focus till date has been primarily on the aftermarket business. "In India, honestly, so far in the last 16 years, the focus was never on the OEM side, and which I would say, is a major shift. "So, going forward, one of the main growth agendas is going to be getting established in the OEM (original equipment maker) world," Pioneer India MD Aniket Kulkarni told PTI in an interaction. The partnerships with automakers is going to be one of the focus areas going forward, because in terms of growth, it has huge potential, Kulkarni stated. He noted that the company is already in talks with various automakers but declined to share details. "So, there are very active pro

Rural two-wheeler sales race past urban markets in a first since Covid

Two-wheeler makers are betting on a rise in 'first-time buyers' and a rise in rural demand to drive growth in FY25

Maruti to talk CBG production expansion with Centre: Suzuki Motor

This contrasts with its total vehicle sales of 427,000 units in the first quarter of 2023-24, which grew 1.2 per cent Y-o-Y

Electric vehicle startup Rivian's production chief Fallon joins Stellantis

Fallon's exit comes at a time for Rivian, which is expanding its only facility in Normal, Illinois to produce the smaller and less expensive R2 SUV that many analysts see as critical to its success

EMPS progress: Achieves 60% of revised target, supporting 334,260 vehicles

Government sources credit the turnaround to the onboarding of new players and the addition of more models by existing companies, which has driven increased disbursement

I believe in creative destruction: Ola founder on new motorbike prices

Aggarwal said that people should already know how he is going to price the products and expressed confusion over why people are surprised

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

M&HCV sales likely to surpass pre-Covid-19 peak of 419,000 units in FY25

Sanjeev Kumar, president - MHCV, Ashok Leyland, said that the first quarter sales growth is currently around 8 per cent, driven by demand for buses