Page 40 - Auto Industry

Auto retail sales up 10% in July; three-wheelers at record pace: Fada

Month-on-month, sales down for all vehicle categories, except three-wheelers, mainly due to rains

Maruti 3.0: To add 2 mn units per annum capacity in 9 yrs, says RC Bgargava

Maruti Suzuki India is kicking off 'Maruti 3.0' targeting to add another 20 lakh units production capacity in nine years with about 28 different models in the market by FY31, according to the company's Chairman R C Bhargava. As SUV sales continue to gain momentum in India with no prospects of demand for the smaller entry-level car market recovering to the growth rates of the past, the company, known for its small cars, is now restructuring its production facilities to "conform to the realities and what we are projecting for the future", he said in his address to the company's shareholders in the Annual Report for 2022-23. Bhargava also said while the Indian car industry is not expected "to grow in double digits, like what happened in China in the past, we do expect that a 6 per cent growth rate will be maintained till FY 2030-31". Highlighting the steps taken by the company to meet future demand, he said, "What is now being planned can be said to be the start of 'Maruti 3.0'. Our ..

Indian auto industry is driving sustainable mobility through 6 initiatives

Companies have demonstrated the sector's commitment to the country's green growth

Ford recalls 870K F-150 pickups in US, parking brakes turn on unexpectedly

Ford is recalling more than 870,000 newer F-150 pickup trucks in the US because the electric parking brakes can turn on unexpectedly. The recall covers certain pickups from the 2021 through 2023 model years with single exhaust systems. Ford's F-Series pickups are the top-selling vehicles in the US. The company says in documents posted by government safety regulators on Friday that a rear wiring bundle can come in contact with the rear axle housing. That can chafe the wiring and cause a short circuit, which can turn on the parking brake without action from the driver, increasing the risk of a crash. Drivers may see a parking brake warning light and a warning message on the dashboard. Ford says in documents that it has 918 warranty claims and three field reports of wire chafing in North America. Of these, 299 indicated unexpected parking brake activation, and 19 of these happened while the trucks were being driven. The company says it doesn't know of any crashes or injuries caused b

Volkswagen takes steps to boost China biz as 1st-half earnings fall by 20%

Volkswagen saw after-tax earnings fall by 20 per cent in the first half of the year, to 8.5 billion euros (USD 9.45 billion), as the automaker tries to engineer a rebound in China. The decline from the same period last year was due in part to a 2.5 billion euro non-cash loss on raw materials hedging in financial markets. Companies use such market strategies to offset risk and insure themselves against rapid changes in the prices of raw materials. Volkswagen said operating earnings, excluding the hedging effect, rose 13 per cent to 13.9 billion. Chief Financial Officer Arno Antlitz said the company achieved solid financial results in the first six months of the year and that with changes in the China business, we will improve the competitive business of the Volkswagen Group even further. The company said its business in Western Europe was strong, given an order book of 1.65 million vehicles, including 200,000 battery-only electric cars, demonstrating stable customer demand. Volksw

Royal Enfield's Hunter 350 crosses the two lakh sales mark in 11 months

Hunter 350 crossed two lakh sales in less than a year since its launch last year. The Hunter 350 is the most affordable and compact bike from Royal Enfield, priced from Rs 1.50 lakh to Rs 1.75 lakh

Ashok Leyland embarks on cross-country expedition marking 75th anniversary

Commercial vehicle manufacturer Ashok Leyland has embarked on a 'Dream Drive' expedition that would cover cities and dealerships across the country marking its 75th anniversary celebrations, the company said on Monday. As many as 10 vehicles would be traversing across cities including Bengaluru, Mumbai, Leh, Kolkata, Dibrugarh, on five different routes commemorating the occasion. The Hinduja Group company is headquartered in Chennai. "As we embark on the 'Dream Drive' to mark the 75th year anniversary celebrations of Ashok Leyland, we reflect upon the journey that has run parallel to the development of our nation," company executive chairman Dheeraj Hinduja, who flagged off the event on Sunday, said in a company statement. "The 'Dream Drive' represents our renewed pledge to further shape the future of the CV industry to support India's economic development for years to come," he added.

India's electric vehicle revolution has already begun, says Nitin Gadkari

Union minister of road transport and highways Nitin Gadkari spoke to Nivedita Mookerjee in a fireside chat to talk about the road ahead for EVs

Bharat NCAP right step to encourage production of safe cars: Auto Cos

Auto majors Mahindra & Mahindra, Maruti Suzuki and Toyota have termed the upcoming Bharat New Car Assessment Programme (BNCAP) as a bold step in the right direction for the domestic industry. While welcoming the initiative, the automakers noted that it would encourage the production of safer cars in the country. "We at Mahindra believe it is one of the bold steps by the Ministry of road transport and we welcome the implementation of Bharat NCAP," Mahindra & Mahindra President, Automotive Technology and Product Development Velusamy R told PTI. This initiative of MoRTH will generate equal opportunities and create healthy competition among OEMs to make safer models for Indian customers, he added. "It is also expected that the government should give some benefits to OEMs that make safer cars to encourage them to continue to do so. This will encourage OEMs to make their cars much safer and offer them to Indian customers at reasonable prices," Velusamy R stated. Maruti Suzuki India .

Results preview: Price hikes, lower input costs to aid auto firms' Q1

Most auto OEMs have increased their prices in the past few months and analysts feel that higher average selling price on a YoY basis would aid margins

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