Page 38 - Auto Industry

As auto shipments to US, Europe climb, Japan's exports rise, imports drop

Japan's exports climbed 4.3% in September from a year earlier as shipments of vehicles, machinery and electronics rose while imports of oil and gas fell sharply, the government said Thursday. Exports totaled 9.2 trillion yen ($61 billion) in September while imports fell 16.3% from the year before to 10.9 trillion yen ($72 billion), according to provisional customs data released Thursday. That left a positive balance of 62.4 trillion yen ($410 billion), the first monthly trade surplus in three months. September's increase in exports was the biggest gain since March and was stronger than analysts had expected. The figures suggest strong activity in Japan's vital manufacturing sector despite faltering global demand. Economists said the drop in imports was mainly due to base effects from the year before. In the first half of Japan's fiscal year, from April-September, exports edged up just 1.4% from a year earlier, to a record 50.2 trillion yen ($330 billion) while the trade deficit sh

Bajaj Auto Ltd Q2FY24 results: PAT up 17.5%, riding on better product mix

After Diwali, Bajaj Auto plans to introduce six new products and upgrades in the 125 cc plus category

Auto industry Q2 preview: Product mix, commodity tailwinds to aid margins

Brokerages expect marginal drop in two-wheeler volumes

Rush hour: Why automakers are pouring Rs 1.75 trn into their factories

One reason for the rush to increase capacity is that automakers do not want to miss the bus on electric vehicles

Auto retail sales up 9% in H1FY24; PVs, three-wheelers steal the show

Both three-wheelers and passenger vehicles witnessed their record H1 numbers during the period

Centre's panel wants car ratings tied to improved connectivity: Draft

"Most sensors do not work well in these scenarios and V2X fills the gap," it added, referring to the connected car technology commonly known as vehicle-to-everything (V2X)

Tata Motors' luxury vehicles arm JLR posts 21% rise in retail sales in Q2

Sequentially, both wholesales and retail sales increased

Sajjan Jindal's firm, SAIC Motor to take over MG Motor India: Report

There will be no JSW Group companies involved in the deal and Jindal will participate through his private company

20% cars sold in metros run on alternate fuels; sales doubled in last 3 yrs

Given the growing acceptance of hybrid and electric vehicles, the combined share of diesel and petrol vehicles has taken a hit and gone down by 8.27% and 4.64% in urban and rural markets, respectively

Tesla rival VinFast mulls setting up manufacturing plant in India

VinFast Auto became the world's third largest automaker by market capitalisation behind Tesla and Toyota in August

Won't be difficult for firms to fully give up diesel vehicles: R C Bhargava

Mahindra & Mahindra, Hyundai, Tata Motors, Toyota Kirloskar and Kia are major players in the diesel car market. Maruti stopped producing diesel-run cars in the financial year 2019-20

$5 bn opportunity for auto parts industry in material circularity: Report

Business practice could increase companies' top line by 10-20 per cent, it says

Centre will not make six airbags mandatory for cars: Nitin Gadkari

No deadline for BS7 implementation but industry should make the transition

Nitin Gadkari moots extra 10% GST on diesel vehicles, then clears air

Stocks of auto companies take a hit

Honda launches new SUV Elevate priced at Rs 10.99L to reach H2 target

Honda had unveiled Elevate in June and opened bookings then. For some variants, the SUV already has a waiting period of as long as 5-6 months

CSM Tech, IIT-M to build autonomously driven electric race car by 2025

CSM Tech is backing Raftar, a motorsports team run by the students of IIT Madras, which has won the Formula Bharat thrice, more than any other peer

US auto sales to rise in August on increased vehicle supply, strong demand

For 2024, global light-vehicles sales are expected at 90.2 million units

PNB, Tata Motors Finance sign agreement to co-source commercial vehicles

Punjab National Bank (PNB) on Thursday said it has signed a memorandum of understanding with Tata Motors Finance Solutions for co-sourcing of commercial vehicles. The co-sourcing arrangement will provide simple and seamless financing solutions to fleet owners and commercial vehicle operators while expanding and scaling MSME businesses across geographies, PNB said in a statement. The memorandum of understanding was signed by PNB Managing Director Atul Kumar Goel and Tata Motors Finance Solutions Ltd MD Samrat Gupta.

M&M expects to produce 200K EVs from upcoming Chakan plant by 2029: Nakra

Mahindra & Mahindra expects electric vehicle production at its upcoming plant in Chakan in Maharashtra to hit peak production mark of 2 lakh units per annum between 2027 and 2029, according to company President -Automotive Sector Veejay Nakra. The company estimates that EVs would account for 30 per cent of the overall volumes by 2030. In January this year, the auto major received an approval from the Maharashtra government to set up a Rs 10,000-crore electric vehicle plant in Chakan near Pune. The company, through its subsidiary, will make this investment over a period of 7-8 years for setting up the manufacturing facility, development and production of its upcoming Born Electric (BE) models. "We are looking at doing a number of 2 lakh units (at Chakan plant) between 2027 and 2029," Nakra said here. The first product under the BE range is expected to hit the markets by end of next year and the production at Chakan plant is expected to begin 4-5 months prior to that, he ...

Hero MotoCorp misses Q1FY24 profit view on reduction in sales volume

India's largest motorcycle maker Hero MotoCorp on Thursday missed first-quarter profit estimates, hurt by a drop in sales volume