Page 36 - Auto Industry

Auto component suppliers to log 8-10% revenue growth this fiscal: ICRA

Auto component suppliers are expected to log an 8-10 per cent growth in revenue this fiscal driven by healthy domestic original equipment manufacturers (OEMs) and pent-up demand from the aftermarket even as headwinds persist on the exports front, credit ratings agency ICRA said in a report. For the first half of the current fiscal, the industry reported a year-on-year growth of 29 per cent, ICRA said on Monday, based on projections from 49 auto ancillaries with aggregate annual revenues of close to Rs 3,00,000 crore. The export orders have slowed down in the last few months, impacted by inflationary pressures, geopolitical tensions, and supply-chain issues. "Domestic original equipment manufacturer (OEM) demand constitutes almost 50 per cent of sales for the Indian auto component industry. This is likely to remain healthy in FY2023, with double-digit growth expected in both passenger vehicle and commercial vehicle segments," said Vinutaa S, Vice President and Sector Head at ...

Chinese carmaker BYD drives into Indian e-SUV segment with Atto 3

Atto 3 can be charged from 0 per cent to 80 per cent within 50 minutes, and it has a range of 521 km. It can reach 0 to 100 km/h acceleration in 7.3 seconds

Macro issues not impacting demand: Mercedes India CEO Martin Schwenk

With the launch of the EQB by year-end, Mercedes will have a portfolio of four EVs. It expects a fourth of its sales in India to come from electric in the next five years

PM Modi stresses on auto industry's push for greener alternatives

Those scrapping old vehicles must get discount on new purchase: Gadkari

Auto industry expects car sales on fast lane on back of new launches

Auto industry expects car sales to be on the fast lane this festive season on back of new launches and improved production but is cautiously optimistic on the road ahead once the festivities peter out

How the Right to Repair rule can cut short your visit to the service centre

The tech and auto industry expects the 'Right to Repair' policy to provide recognition to the largely unorganised third-party repairs sector through increased availability of original spares

Swapping batteries: How India is moving ahead with adoption of EVs

Across the Indian capital's dense localities, battery swapping stations are becoming a frequent site at local provision stores and small retail outlets

Two-wheeler stocks ready to roll on pick-up in mobility

The spurt in mobility after the pandemic has brightened prospects for auto companies in India, especially the two-wheelers. Take a look at the likely tailwinds for two-wheeler companies.

200 brands of electric scooters but industry shadowed by bad reputation

Despite all the attention they command, e-scooters are used for only about one one-thousandth of all trips made in the world's cities.

Electric vehicles to drive auto capex up by Rs 70,630 crore in 5 years

The auto component industry, which has traditionally relied on engine parts for the bulk of its business, is ready for the electric shift

Top headlines: Auto sector under chip shortage, GST mop-up hits record high

Here are the top headlines of the day on Monday

SIAM requests GoI to include auto spares in Line of Credit to Sri Lanka

India has recently announced $1-bn line of credit to Sri Lanka to help the country tide over the current economic crisis

Auto industry to reach pre-pandemic highs by FY2024, says FADA

FADA anticipates the auto industry to come out of the woods and reach pre-pandemic highs by FY2024

Maruti, Hyundai see dip in March sales; TaMo, Kia post highest-ever sales

The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic dispatches in March declined 7 per cent to 1,43,899 units from 1,55,417 units in the year-ago period. For the full financial year 2021-22, the company posted a total sales of 16,52,653 units, a growth of 13 per cent over 2020-21. "The shortage of electronic components had some impact on the production of vehicles in FY 2021-22. The company took all possible measures to minimise the impact. As the supply situation of electronic ...

India Ratings revises auto sector outlook to 'neutral' for FY23

Domestic automobile sales volume is expected to grow 5-9 per cent year-on-year in 2022-23, after three consecutive years of decline, and is likely to fall 5-8 per cent in 2021-22: India Ratings

Auto Industry fear shortage of semi-conductor due to Ukraine-Russia crisis

With omicron passing away without much impact and supplies showing signs of recovery, it looked as if Indian Auto Industry was at the cusp of recovery until Russia invaded Ukraine

Spinny acquires AI-powered car connectivity solutions' startup, Scouto

Founded by ex-racecar driver Akshay Gupta (CEO) and Shubham Sharma (CTO), Scouto has built an end-to-end connected car technology suite.

Chip crunch, pandemic, high costs drag Dec qtr auto sales to multi-year low

The auto industry body expects current quarter to be better but stops short of sharing any guidance owing to pandemic related uncertainties

China's auto sales fall for eighth straight month in Dec amid chip shortage

China's auto sales in December fell 1.6% from a year-ago period, the eight consecutive monthly drop, industry data showed

Volkswagen expects to double pre-owned car sales to 20,000 units this year

Volkswagen entered the used car market in 2012