Page 39 - Auto Industry
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
 "Auto Industry fear shortage of semi-conductor due to Ukraine-Russia crisis")
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.
 "Spinny acquires AI-powered car connectivity solutions' startup, Scouto")
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
 "Chip crunch, pandemic, high costs drag Dec qtr auto sales to multi-year low")
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
 "China's auto sales fall for eighth straight month in Dec amid chip shortage")
Volkswagen expects to double pre-owned car sales to 20,000 units this year
Volkswagen entered the used car market in 2012
 "Volkswagen expects to double pre-owned car sales to 20,000 units this year")
Buyers may go for cars with lower running costs as fuel prices spike: Study
With fuel prices going up by 35% over the past 15 months, cars that have higher fuel efficiency and lower maintenance costs are expected to gain higher traction among buyers in India, a report said
 "Buyers may go for cars with lower running costs as fuel prices spike: Study")
Icra slashes growth forecast for auto parts industry to 17-20% for FY22
Icra cited the impact of semiconductor shortage on domestic vehicle manufacturers as well as on exports revenues
 "Icra slashes growth forecast for auto parts industry to 17-20% for FY22")
Bajaj Auto swaps stake in KTM to get a share in Pierer Mobility
PMAG ups stake in KTM AG from 51.7% to 98.2%; Bajaj Auto becomes indirect partner in all PMAG brands
 "Bajaj Auto swaps stake in KTM to get a share in Pierer Mobility")
Ford India head quits after company decides to stop making cars: Report
Anurag Mehrotra spent over a decade with Ford in India across multiple roles including marketing, sales and most recently as president and managing director
 "Ford India head quits after company decides to stop making cars: Report")
Octavia 2021: Skoda's premium but pricey sedan comes packed with features
Octavia 2021 punches above its weight
 "Octavia 2021: Skoda's premium but pricey sedan comes packed with features")
Semiconductor chip shortage: Industries face further output cuts and delays
Auto sector to be among the most affected by the crisis
 "Semiconductor chip shortage: Industries face further output cuts and delays")
The Morning Show, Ep 3: Troubled carmakers, retro tax headway, & T+1 cycle
Why do top global carmakers fail in India? Will Cairn settlement herald the end of India's retro tax migraine? What will T+1 settlement cycle change for Indian markets? Get answers in this episode
 "The Morning Show, Ep 3: Troubled carmakers, retro tax headway, & T+1 cycle")
Revised PLI scheme would give the right impetus for the industry: TVS Motor
The revised PLI Scheme announced by the Centre on Wednesday would give the right impetus for auto industry to move faster towards future technologies, TVS Motor Chairman Venu Srinivasan said.
 "Revised PLI scheme would give the right impetus for the industry: TVS Motor")
Chip shortage hits domestic auto wholesales in August; dispatches dip 11%
Automobile wholesales in India declined 11 per cent year-on-year in August, as the semiconductor shortage hit production processes across the industry, SIAM said on Friday.
 "Chip shortage hits domestic auto wholesales in August; dispatches dip 11%")
Maruti Suzuki hikes prices by up to 1.9% due to increase in input costs
The country's largest carmaker Maruti Suzuki India on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect
 "Maruti Suzuki hikes prices by up to 1.9% due to increase in input costs")
Carmaker Mahindra warns of 20% dip in production due to chip shortage
Indian car maker Mahindra and Mahindra said on Thursday it expects a 20%-25% drop in September vehicle production at its automotive division due to semiconductor shortages
 "Carmaker Mahindra warns of 20% dip in production due to chip shortage")
Toyota Kirloskar domestic sales surge two-fold to 12,772 units in August
Toyota Kirloskar Motor on Wednesday reported over two-fold increase in domestic wholesales in August at 12,772 units as compared with August 2020
 "Toyota Kirloskar domestic sales surge two-fold to 12,772 units in August")
Bajaj Auto reports 5% increase in sales at 373,270 units in August
Bajaj Auto on Wednesday reported a 5 per cent increase in total sales at 3,73,270 units in August 2021.
 "Bajaj Auto reports 5% increase in sales at 373,270 units in August")
Top headlines: Auto industry protests taxes; FM seeks to boost PSB lending
The government is looking at modifying its Faceless Assessment Scheme for solving tax disputes.
 "Top headlines: Auto industry protests taxes; FM seeks to boost PSB lending")
Words alone won't help auto industry; concrete actions needed: RC Bhargava
A lot of statements were made by government officials supporting the automobile industry, but when it comes to taking actual steps nothing has really happened, Maruti Suzuki India Chairman said
 "Words alone won't help auto industry; concrete actions needed: RC Bhargava")