Page 32 - Auto Industry

FAME subsidy needed for 3-5 years: Kinetic Green founder and CEO

Motwani spoke about the need to have subsidies under Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) for three-five year

Festive season auto sales scale record high in 2023, up 19%, says FADA

Significant growth was observed in the two-wheeler, three-wheeler, commercial vehicle and passenger vehicle segments, with a rise of 21%, 41%, 8%, and 10%, respectively

Suzuki Motor's stake in Maruti Suzuki to rise to 58.19% from 56.48%

The board of Maruti Suzuki approved the allotment of 12,322,514 equity shares to Suzuki having a face value of Rs 5 each at a price of Rs 10,420.85 per equity share

Carmakers shift into overdrive with extended festival season deals

An industry source added that the sector is fearing lower sales in November and December

Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch

Auto companies, especially makers of electric two-wheelers, say that in such cases the government has been withholding the subsidy for months, without offering any resolution on the issue

PV wholesales touch all-time high for October even as car sales dip

The growth of the Passenger Vehicle (PV) segment is coming from the utility vehicles which clocked a Y-o-Y growth of 40 per cent to 198,356 units in October

GoMechanic 2.0: New Founders secure $6 mn funding from marquee investor

A brainchild of four friends -- Kushal Karwa, Amit Bhasin, Rishabh Karwa and Nitin Rana -- the original GoMechanic firm was founded in 2016

Electric three wheelers' sales pick up speed but a mixed bag overall

NITI Aayog FY26 goal: question marks on E2Ws, e-buses and passenger cars

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

Navratri of 2023 marked a milestone, with retail sales soaring by 18 per cent year-over-year, surpassing the figures of Navratri 2017

Tyre demand to remain robust amid positive environment: JK Tyre CMD

Demand for tyres in the domestic market is expected to remain robust going ahead as the automobile industry continues to scale new highs amid a positive economic environment, JK Tyre Chairman and Managing Director Raghupati Singhania said. In an interaction with PTI, the veteran industry leader said that robust Gross Domestic Product (GDP) growth and the government's focus on infrastructure development, is expected to fuel growth for the automobile sector as well as the tyre industry. "We see that the domestic demand will continue to be robust due to the healthy macroeconomic factors as well as the investments in infra and of course, overall feel good economic environment that we are running through," he said. Elaborating on some positive factors, Singhania said freight availability remains consistent, helping the commercial vehicle segment. Besides, robust GDP growth and more disposable income is helping in the enhanced offtake of cars, he noted. "So, we foresee that car demand w

Maruti to boost flexibility in mfg to roll out vehicles as per mkt demand

Maruti Suzuki India is looking to bring in more flexibility in its production processes in order to produce vehicles as per the evolving market scenario, according to a senior company official. The country's largest carmaker is looking to strengthen the production of high selling utility vehicles while curtailing the roll out of the entry level cars. "Diverging demand patterns between utility vehicles and the small car segment is continuing. The company is working on increasing the flexibility in operations to produce vehicles as per the evolving market demand," Maruti Suzuki India Executive Officer Corporate Affairs Rahul Bharti said in an analyst call. He noted that the automaker has discovered that one of the reasons for the recent dip in the margins is because it was producing "some slow-moving cars". "And we did not have sufficient production capacity for the cars that had demand. If we had the flexibility of both, whether it is semiconductor supplies or in-house production, w

Hero MotoCorp rides on robust Q2 performance and better prospects

Markets give thumbs up to the two-wheeler major's performance, analysts bullish on stock

TPEM's Avinya series of vehicles will be manufactured at Sanand 2 facility

The Sanand 2 plant would be operational by the fourth quarter of FY24

Jaguar Land Rover, CVs take Tata Motors net profit to Rs 3,764 crore

During the quarter under review, the company's revenue from operations increased by 32 per cent to Rs 105,128 crore, up from Rs 79,611 crore during the July to September period of 2022-23

Three-wheelers dominate Indian roads, sales exceed 100K mark in Sept, Oct

This is a significant increase compared to the pre-Covid numbers of just 58,485 units in September and 63,042 units in October, 2019

CarDekho's FY23 revenue rises 46% to Rs 2,331 cr, Rupyy drives growth

The company said that it has controlled the losses despite maintaining a steady growth whereby it recorded a loss of Rs 562 crore in FY23 against Rs 535 crore in FY22

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

TVS Motor posts marginal rise in Q2 consolidated net profit to Rs 386 crore

During the quarter under review, the company's revenue from operations increased by 16 per cent to Rs 9,932.82 crore as against Rs 8,560.76 crore in the July to September quarter of FY23

Cars24 reports revenue of Rs 5,535 cr in FY23, 8% increase from FY22

The company reported profit before tax (loss) of Rs 467.8 crore in FY23 compared to Rs 1093.1 crore in FY22

PV industry expecting zero growth in volume sales in FY25: R C Bhargava

In the first half of FY24, sales in the Indian passenger car segment, which comprises small and compact cars, witnessed a year-on-year (Y-o-Y) decline of 7.9 per cent