Page 4 - Auto Makers

'Panel to examine auto firms' requests for more incentives under PLI'

A government-formed panel will examine requests from auto manufacturers seeking quarterly incentive payouts and inclusion of more components under the production-linked incentive scheme, according to an official on Monday. "This year, the incentive (under Auto PLI) will be given annually but a committee has been formed in the ministry that will look into the requests of OEMs (Original Equipment Manufacturers). "One of the requests is that certain (Advanced Automotive Technology) AAT components be included. We have only 103 components," Additional Secretary in the Ministry of Heavy Industries Hanif Qureshi said. In January, Union Heavy Industries Minister Mahendra Nath Pandey told PTI that the government constituted a committee to examine the auto industry's demand for including more components in the PLI scheme for automobile and auto components. The committee will be chaired by an Additional Secretary in the Ministry of Heavy Industries and will have 11 members, including those fr

Tata Motors reports 8% wholesales increase in February at 86,406 units

Tata Motors on Friday reported an 8 per cent rise in its total wholesales to 86,406 units in February as compared with 79,705 units in the same month last year. The total domestic sales stood at 84,834 units last month against 78,006 units last month, a growth of 9 per cent, Tata Motors said in a regulatory filing. Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 51,321 units as compared to 43,140 units in the year-ago month, up 19 per cent, it added. Total commercial vehicle sales declined by 4 per cent last month to 35,085 units from 36,565 units in February 2023, it added.

Sona BLW shifts gear with order boost from electric vehicle space

Firm's efforts to broaden portfolio, scale-up, and diversify customer base will lead to strong earnings growth: Analysts

CV growth worries, sustainable margin gains key concerns for Bosch

While localisation efforts and margin improvement are medium-term positives, the immediate trigger is the healthy Q3 show

Ashok Leyland's shareholding in UK-based Optare Plc increases to 92.59%

In November last year, Ashok Leyland announced that it would invest Rs 1,200 crore in its electric vehicle arm Switch Mobility, through Optare Plc

Result preview: Auto Inc may ride on strong revenue growth in Dec qtr

Prabhudas Lilladher expects the companies under its coverage to report an aggregate revenue growth of 20 percent YoY (including Jaguar-Land Rover) and 16 percent (excluding JLR)

Bombay High Court junks pleas challenging closure of Talegaon plant

The High Court upheld the decision of the Industrial Tribunal allowing GMI to close the plant after noting accumulated losses of Rs 9,656.87 crore as of 2021-22

Toyota's global output surges 11% in Nov, sees record high on strong demand

Domestic sales for the month shot 27% higher, sales in both the United States and China increased by 17%, while those in Europe climbed 15%

Auto, financial services stocks record highest selling by FPIs in November

Chokkalingam said buying in healthcare and consumer services is a hedging strategy by FPIs ahead of the state election results

Oct auto retail sales dip 8% due to Shraddh period; Navratri sales up 18%

Navratri of 2023 marked a milestone, with retail sales soaring by 18 per cent year-over-year, surpassing the figures of Navratri 2017

Explained: How UAW's drive to 'end tiers' will change GM Detroit

The contract will largely unwind a strategy the automaker has used for years to hold down labor costs, UAW officials have said

Auto workers shut down Ford's largest factory, threaten Stellantis

The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. In a surprise move on Wednesday night, 8,700 members left their jobs at Ford's Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain hinted at further action against Stellantis. Here's to hoping talks at Stellantis today are more productive than Ford yesterday, Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The vehicles made at the plant generate USD 25 billion per year in revenue, the company said in a statement. Fain said in a statement that the union has waited long enough but Ford hasn't gotten the message to bargain for a fair contract. If they can't understand that after four weeks, the 8,700 workers shutting dow

Ashok Leyland launches the new ecomet Star 1915 truck with 18.49T GVW

The latest truck by the company is suited for long-distance applications, designed for fuel efficiency and faster turnaround time

Tata Motors to upskill 50% of employees with new age auto tech in 5 years

Tata Motors on Thursday said it plans to equip over 50 per cent of its overall workforce with new-age auto tech capabilities within five years as part of its strategy to develop skilled and future-ready staff focused on electric vehicles and other emerging technologies in the auto industry. The company, which has over 57,000 employees across different functions, has collaborated with organisations such as ARAI, Bosch, Mathworks, SAE, and Tata Technologies, among others to provide its employees with professional certification programmes in connected, electric, shared and safe (CESS) through its upskilling programme. "A dynamically evolving industry like ours mandates consistent upskilling and training to remain ahead of the curve and future ready," Tata Motors Vice President HR, Passenger Vehicles and Electric Vehicles, Sitaram Kandi said. The company has specially curated training modules to address the requisite developmental needs of all -- from shopfloor technicians to line ...

Gabriel India gains 7% to hit new high; up 60% in 2 mths on strong outlook

Operating margins are seen around 8-9%; the improvement is likely to be driven by stable RM prices, positive operating leverage benefits and cost optimization measures by the firm, said CRISIL

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

Tamil Nadu firms shine in India's 1 mn EV sales; contribute over 40%

State expects investments worth Rs 50,000 cr in EV manufacturing by 2025

$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

Defence business to drive growth for auto component major Bharat Forge

The company had won a new export order of Rs 280 crore in the quarter taking its total order book to Rs 2,300 crore

Hyundai signs deal to acquire General Motors' Talegaon manufacturing plant

Facility in Maharashtra has annual production capacity of 130,000 units