Page 37 - Auto Industry

Glida plans to set up 3,000 EV charging points pan-India by March 2025

Firm currently has 450 charging points in 15 states, most of which are in Delhi NCR and Hyderabad; 1,000 charging points to come up by end of FY24

Domestic automobile industry to log 17% revenue growth in June qtr: Report

Domestic automobile industry is expected to log a 17 per cent year-on-year revenue growth in the June quarter of FY24, a report said on Tuesday. This estimated growth will be led by healthy growth across segments, barring muted growth in battery companies, brokerage firm Emkay Global said in its report. The revenue growth projections are excluding Tata Motors, it said. Segment wise, the report said, the domestic two-wheeler industry's volumes are likely to have improved by around 10 per cent Year-on-Year (YoY) in Q1, primarily on account of continued and healthy demand from the urban/premium segment. However, the two-wheeler exports remained weak on a year-on-year basis while sequential improvement was recorded for larger volume players, it said. The overall revenue is expected to grow at 24 per cent, 19 per cent and 16 per cent amid volume growth of 10 per cent, 5 per cent and 21 per cent for Bajaj Auto, TVS Motors and Eicher Motor-Royal Enfield, respectively, Emkay Global said.

Commuter bike segment sees moderate growth in FY24 as challenges continue

High commodity costs, stringent rules and uncertainty about rural recovery remain major factors for this segment

Maruti's Jimny priced at Rs 12.74 lakh ex-showroom; check specifications

With Jimny, Maruti wants to achieve more than what it did with the Gypsy by making it a truly mass-market vehicle

Swaraj Tractors launches compact tractors; starts from Rs 5.35 lakh

Swaraj Tractors on Friday launched a new range of compact lightweight tractors with price starting from Rs 5.35 lakh (ex-showroom). The company said it will roll out two models -- Target 630 and Target 625 -- in 20-30 HP category under the new Target range. The Swaraj Target 630 model will first be available through its dealer network in Maharashtra and Karnataka, at price starting from Rs 5.35 lakh (ex-showroom), it said. The second model Target 625 will be introduced in due course, Swaraj Tractors, which is a part of the Mahindra Group, said. The Group had last week announced its plans to launch a new tractor platform. The new Swaraj Target range seamlessly combines power and advanced technology features, providing exceptional efficiency in spraying and various other applications, it said. "Introduction of Swaraj Target opens a new segment for growth of Swaraj Tractors and facilitates horticulture mechanisation, a fast-growing segment in Indian agriculture," said Hemant Sikka,

Maruti Suzuki's WagonR crosses 3 million sales milestone in 2 decades

Maruti Suzuki India on Tuesday said its hatchback WagonR has crossed 30 lakh milestone in over two decades. The model, which was introduced in the market in 1999, achieved 5 lakh sales mark in 2008; 20 lakh in 2017; 25 lakh in 2021 and 30 lakh milestone in 2023. "WagonR's continued success with over 3 million cumulative sales is a testament to its undisputed reign as one of the most iconic Indian hatchbacks," Maruti Suzuki India Senior Executive Officer (Marketing & Sales) Shashank Srivastava said in a statement. Since its launch, WagonR has constantly evolved and risen to the pulse of changing customer preferences, he added. The model has the highest percentage of repeat buyers as 24 per cent of its customers prefer to upgrade to a new WagonR, Srivastava said.

Tesla recalls 1.1 million electric cars from China over braking defect

Some 1.1 million electric cars that Tesla made at its Shanghai factory or imported into China between January 2019 and April this year will need to be fixed

Automotive firm Stellantis India names Aditya Jairaj as Deputy MD

Global automotive group Stellantis on Monday said it has appointed Aditya Jairaj as the Deputy Managing Director with effect from May 4. Jairaj will also lead the Jeep brand's operations in the country. Stellantis India CEO & Managing Director Roland Bouchara said Jairaj brings a proven track record of value creation. "The India strategy is a key pillar for the group as an important element of localisation efforts in the region and transforming the mobility landscape in India through our two-pronged brand approach," he added. Jairaj has more than 17 years of experience in the automotive sector. Before joining Stellantis, he served as the Head, EV Strategy and Transformation, for Nissan.

Commercial vehicles sales of Indian automakers slump by 50% MoM in April

India's wholesale commercial and passenger vehicle sales growth moderated in April, following a boost from the festive season

FAME-II 'defaulters': Hero Electric, Okinawa to get subsidy recovery shock

Notices to Ola Electric, Ather, TVS, Vida for 'breaching' ex-factory price cap

Indian car market to see new variants, facelifts, all-new vehicles soon

Arguably, the most-awaited, Maruti is expected to launch its all-new, five-door Jimny in May

Automaker Stellantis to offer buyouts amid electric vehicle transition

Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles. Stellantis on Wednesday said it's offering buyouts to groups of white-collar and unionized employees in the U.S., as well as hourly workers in Canada. The cuts are in response to today's increasingly competitive global market conditions and the necessary shift to electrification, the company said in a prepared statement. Stellantis said it's looking to reduce its hourly workforce by about 3,500, but wouldn't say how many salaried employees it's targeting. The company has about 56,000 workers in the U.S., and about 33,000 of them could get the offers. Of those, 31,000 are blue-collar workers and 2,500 salaried employees. Another 8,000 union workers in Canada also will get offers, the company said. Stellantis, formed in the merger of Fiat Chrysler and France's PSA Groupe, says in a statement that it's reviewing its North .

Bajaj Auto Q4 results: Revenue up 12%; PAT dips 2% to Rs 1,433 crore

'Export demand sluggishness may have bottomed out'

Maruti upgrades entire model range to conform to stricter emission norms

Maruti Suzuki India on Tuesday said it has upgraded its entire range of vehicles to meet the stricter emission norms under the BSVI regime. All company hatchbacks, sedans, MPVs, SUVs and commercial vehicles are now compliant with the new BSVI Phase-II real driving emissions (RDE) regulations, alongside being compatible with E20 fuel as well, the auto major said in a statement. The new RDE compliant Maruti Suzuki cars feature an enhanced on-board diagnostics (OBD) system to monitor emission control systems of the car in real-time and will notify drivers in case of any malfunction, it added. The products now also come equipped with an electronic stability control (ESC) system, MSI said. "At Maruti Suzuki, we are always finding new and innovative ways to reduce emissions from our vehicles..The Government's drive to incorporate the new BS6 Phase II norms will go a long way in controlling emissions from vehicles over their entire lifespan," Maruti Suzuki India Chief Technical Officer C

Results preview: Ebitda margins of auto cos to take the wheel in Q4, again

Analysts indicate that in future, gross margins might come under pressure

Passenger vehicle sales up 26.7% in FY23 as chip shortages ease: SIAM

Buying ahead of implementation of new fuel emission norms, and strong demand during the festival season also drove sales towards the end of the year

Stepping on the gas: CNG fuel of choice in green mobility quest

Though EVs have fast gained traction; CNG vehicle sales are up 82% in 5 years

Govt working to make India a global automobile manufacturing hub: Gadkari

The government is working towards making India a global automobile manufacturing hub and the domestic industry is expected to be worth Rs 15 lakh crore in the near term, Union Minister Nitin Gadkari said on Tuesday. Virtually inaugurating Tata Motor's vehicle scrapping facility in Jaipur, Gadkari said the automobile sector currently contributes to 7.1 per cent of the nation's GDP with the industry size at around Rs 7.8 lakh crore. "The auto sector gives direct and indirect employment to around 4 crore people and this number is expected to grow to 5 crore by 2025. I am working with a target to make India number one global automobile manufacturing hub and to take its size to Rs 15 lakh crore in the near future," he noted. Gadkari noted that the scrappage policy enables removal of older and unfit vehicles and introduction of new lesser polluting vehicles in a phased manner. "It is estimated that the automotive demand generated by the scrapping policy will lead to additional GST revenu

Bajaj Auto total vehicle sales fall 21% to 285,995 units in January

Bajaj Auto Ltd total vehicle sales fell 21 per cent at 2,85,995 units in January. The company's vehicle sales stood at 3,63,443 units in the year-ago period. Total domestic sales rose 16 per cent to 1,73,270 units in the previous month as against 1,49,656 units in January 2022. Exports declined 47 per cent year-on-year at 1,12,725 units, according to a company statement. Bajaj Auto had shipped out a total of 2,13,787 vehicles to various overseas markets in January 2022. Total two-wheeler sales dropped 25 per cent at 2,41,107 units in January 2023 compared to 3,23,430 vehicles sold in the same month previous year, with domestic sales rose 4 per cent at 1,40,428 units and exports declining a whopping 46 per cent at 1,00,679 during the period under review over 2022, as per the statement.

MG Motor India reports 4% fall in vehicle sales at 4,114 units in January

MG Motor India on Wednesday reported a 4 per cent fall in vehicle sales at 4,114 units in January over the same month last year. The company had retailed 4,306 vehicles in January 2022, MG Motor India said in a statement. The carmaker said production is regaining momentum with some improvement in the supply chain. However, select variants of its vehicles still remain impacted, MG Motor India added.