Page 2 - Auto Makers

Automakers clash over CAFE relief for LCVs, small cars at Siam meet

Automakers debate exemption proposals for light commercial vehicles and small passenger vehicles under CAFE-3 and CAFE-4 norms at a heated SIAM meeting

China shows signs of tackling price wars taking toll on its EV industry

The Chinese government is signalling enough is enough when it comes to the fierce competition in the country's electric car market. China's industrial policy has engineered a remarkable transformation to electric vehicles in what is the world's largest auto market. In so doing, it has spawned far more makers than can possibly survive. Now, long-simmering concerns about oversupply and debilitating price wars are coming to the fore, even as the headline sales numbers soar to new heights. Market-leader BYD announced this week that its sales grew 31 per cent in the first six months of the year to 2.1 million cars. Nearly half of those were pure electric vehicles and the rest were plug-in hybrids, it said in a Hong Kong Stock Exchange filing. The company phased out internal combustion engine cars in 2022. BYD came under thinly veiled criticism in late May when it launched a new round of price cuts, and several competitors followed suit. The chairman of Great Wall Motors warned the indus

Hero Motors files draft papers for ₹1,200 cr IPO; looks to reduce debt

The company will issue fresh shares worth up to ₹800 crore while its existing shareholders will sell shares worth up to ₹400, the draft prospectus showed

Auto part makers may lose Rs 4.5K crore due to trade tariffs: Icra

Leading auto component manufacturers could take a revenue hit of up to Rs 4,500 crore in the current fiscal due to dip in overseas shipments stemming from the tariff-related impact, ratings firm Icra said on Monday. Icra expects the revenue growth of Indian auto component industry, represented by sample of 46 auto ancillaries with aggregate annual revenues of over Rs 3 lakh crore in FY2024, to ease to 6-8 per cent in FY2026, against 8-10 per cent projected earlier, if there is mid-to-high single-digit revenue decline in exports to the US, stemming from the tariff-related impact, it said in a statement. The steep increase in import tariffs imposed recently by the US is estimated to burden the entire supply chain with an incremental cost of around Rs 9,000 crore, which will need to be borne by the US consumers, US importers, and Indian exporters, it said. The extent to which the Indian auto component exporters share the cost burden will be contingent on their competitiveness and the .

Hero MotoCorp halts production at 4 plants to navigate supply alignment

Hero MotoCorp on Thursday said it will suspend production at four of its plants from April 17 to April 19 in order to undertake short-term supply alignment. The company will utilise the period to carry out maintenance activities at the facilities. "We would like to inform you that production will be temporarily paused from April 17 to 19, 2025, at four of our manufacturing plants, Dharuhera, Gurugram, Haridwar, and Neemrana, as we navigate a short-term supply alignment," the country's largest two-wheeler maker said in a statement. During this planned pause, the company is taking the opportunity to carry out maintenance, upkeep, and facility enhancements to further strengthen operations, it added. Production will resume on April 21, 2025, the company said. "Our Tirupati and Halol plants will continue to operate during this time," it noted. The production pause will not impact the company's ability to meet retail demand across domestic and international markets, Hero MotoCorp said.

Indian auto parts makers in Canada, Mexico see no major impact of tariffs

Indian auto component makers having manufacturing facilities in Canada and Mexico will face no significant impact of US President Donald Trump's latest tariff war as the two countries have been exempted from additional duties. Due to the existing order under the International Emergency Economic Powers Act (IEEPA) related to fentanyl and migration, the White House confirmed that the new tariffs announced on Wednesday will not apply to Canada and Mexico. Subsequently, US-Mexico-Canada Agreement (USMCA) compliant goods from both the countries will attract zero duty while non-compliant items will face a 25 per cent tariff. Indian auto component makers such as Samvardhana Motherson International Ltd have already stated that with a significant part of their products being USMCA-compliant, Trump's orders may not have any material impact. "A significant part of the products supplied by the company and/or its subsidiaries to its various customers in the US are either manufactured in the US

Auto-parts companies tap electronics as new growth avenue: Report

By 2030, electronics are expected to account for over 25 per cent of vehicle cost, analysts tracking the sector noted

Tata Motors, Motherson Sumi, others slip upto 7.5% on Trump 25% auto tariff

The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically

Demand dip: Switch Mobility UK likely to shut down its Sherburn plant

The company is expecting to double its bus sales from around 450 this financial year to around 1,000 next financial year, owing to a rise in demand in the Indian market

Mahindra SA inks MoU to explore auto production feasibility in South Africa

Mahindra South Africa, the local subsidiary of the Indian automative giant, has signed a Memorandum of Understanding with the Industrial Development Corporation (IDC) to undertake an in-depth feasibility study on the potential establishment of a Completely Knocked Down (CKD) vehicle assembly facility in the country. Mahindra South Africa is also in the process of increasing its productive capacity at its assembly facility operation by AIH Logistics in KwaZulu-Natal province as it enters a third decade in the country, which it often refers to as "Mahindra's second home." Reaching the milestone of our 25,000th locally assembled Pik Up is (a) testament to Mahindra's growing footprint and long-term commitment to South Africa," said Rajesh Gupta, CEO of Mahindra South Africa. "As we continue to strengthen our operations, this MoU allows us to explore the feasibility of expanding our local assembly capabilities. This study will provide valuable insights into the potential for deeper ...

Hyundai India completes 25 years of exports; crosses 3.7 million mark

The company began exports in 1999 and has covered over 150 nations. It currently exports to more than 60 countries

Support for green tech, consumer spending boost: Automakers' Budget list

Automakers want the government to provide merit-based policies to support a full range of green technologies and alternative fuels besides allocations to facilitate electric vehicle ecosystem like charging infrastructure to further accelerate sustainable mobility in the upcoming Union Budget. With the automobile industry showing early signs of growth slowing down, they said budgetary initiatives to boost the disposable income of consumers are necessary to support robust growth. "We request the government for appropriate merit-based policies that support and help in popularising full range of greener technologies and alternative fuels thereby helping in faster and greater adoption of multiple sustainable mobility solutions," Toyota Kirloskar Motor Country Head and Executive Vice President - Corporate Affairs and Governance - Vikram Gulati said. Further, he said measures to encourage the scrapping of old vehicles through the budget will also boost demand for newer generation vehicles

Bharat Mobility Expo 2025: List of top 5 SUVs showcased, launched in India

In the presence of other prominent figures, such as Union Ministers Nitin Gadkari and Piyush Goyal, PM Modi officially inaugurated the Auto Expo 2025 on January 17, 2025. Here are the top 5 cars

E2w space has matured, our entry not late: Suzuki Motorcycle India

The initial demand for electric scooters was given a fillip by the subsidy under the central government's FAME scheme

Indian mobility market set to double by 2030, exceeding $600 bn: Report

The Indian mobility industry is expected to double and surpass USD 600 billion by 2030, a report by Google and Boston Consulting Group said on Saturday. According to the Think Mobility Report, emerging revenue pools such as electric, shared, and connected mobility are poised to contribute USD 100 billion to the total market by 2030 while a majority of the revenue will come from classic revenue pools comprising classic components, sale of new ICE (internal combustion engine) vehicles, finance and insurance etc. "The Indian mobility industry is charting its unique course, poised to double and cross USD 600 billion by 2030," the report said. Share of four-wheeler (4W) electric vehicles (EV) is expected to grow in the range of 15-17 per cent by FY'30 from 2.2 per cent in FY'24 while 2-wheeler (2W) EV share is estimated to grow to 35-40 per cent from 5.4 per cent during the reported period. Around 51 per cent of respondents in the study, expressed concern on non-availability of EV charg

Will Bharat Mobility Expo 2025 rev up auto stocks? Analysts don't think so

Bharat Mobility Expo 2025, Auto Expo 2025: Analysts believe the automobile vehicle demand has been impacted by higher inflation and interest rates

Toyota wants salaried staff in office four days a week starting Sept 2

Toyota said in the memo that staff can continue to work from home on Fridays 'subject to business needs'

Mahindra looks to scale up biz globally, eyes more markets with new models

Having consolidated its position in the domestic market, Mahindra & Mahindra is now looking at ways to expand its presence across international markets, as per a top company executive. The Mumbai-based auto major is looking to scale up its automotive business globally in a phased manner with plans to leverage its existing distribution channels in various overseas markets in the first phase. In an interaction with PTI, Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar said new products like the under-development lifestyle pickup truck and the new range of electric models would allow it to enter new international markets. He noted that the automaker already has a strong presence in countries like South Africa, Australia, New Zealand, Morocco, and Chile with an established distribution network. "A lot of these geographies started for us as markets where we sold Scorpio pick-up. Now these markets are enabling us to launch models ...

JSW MG Motor India reports 55% increase in sales at 7,516 units in Dec 2024

JSW MG Motor India on Wednesday reported a 55 per cent increase in sales at 7,516 units in December 2024, as compared to the year-ago month. The company recorded its highest-ever EV sales in December and NEV (new energy vehicle) sales accounted for over 70 per cent of the total sales with its crossover utility vehicle Windsor alone clocking 3,785 units, JSW MG Motor India said in a statement. Reflecting on 2024, a company spokesperson said it was a year of transformation with the successful launch of the joint venture (between JSW and China's SAIC) and refreshed brand identity, reaffirming commitment to India's automotive evolution. "Going forward, we will maintain our growth momentum while driving continuous disruption and innovation. We are committed to introducing new products every six months, alongside delivering exceptional customer service," the spokesperson added. JSW MG Motor India plans to build on this momentum into 2025 with a slew of innovations and products lined up f

GM to retreat from robotaxis, stop funding Cruise autonomous vehicle unit

General Motors has said it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit. Instead the Detroit automaker will focus on development of partially automated driver-assist systems like its Super Cruise, which allows drivers to take their hands off the steering wheel. GM on Tuesday said it would get out of robotaxis given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market. The company said it will combine Cruise's technical team with its own to work on advanced systems to assist drivers. GM bought Cruise automation in 2016 for at least USD1 billion with high hopes of developing a profitable fleet of robotaxis. Over the years GM invested billions in the subsidiary and eventually bought 90 per cent of the company from investors. GM even announced plans for Cruise to generate USD1 billion in annual revenue by 2025, but it scaled back spending on t