Page 10 - Auto Sector

M&M Q2FY25 results: PAT up 35% at Rs 3,171 crore on strong auto sales

The company stated that its auto and farm divisions delivered strong operating results, with profits up 23 per cent, while the financial services assets under management grew by 20 per cent

Auto Expo 2025 to be held under Bharat Mobility from Jan 17-22 at 3 places

India's flagship motor show Auto Expo will be held under the umbrella of Bharat Mobility, the government's initiative bringing all mobility-related trade shows under one platform, from January 17 next year here. The six-day Bharat Mobility Global Expo 2025 will be held between January 17 and 22 next year at Bharatmandapam; Yashobhoomi (India International Convention and Expo Center) Dwarka, and India Expo Center & Mart, Greater Noida, simultaneously. Bharat Mobility Global Expo is an annual event and it appears that now on Auto Expo is likely to be held every year. Auto Expo is a biennial event. Commerce and Industry Minister Piyush Goyal told reporters that this will be the second largest expo in the world in this segment and the industry should take it to the top position. Munich in Germany hosts the the world's largest auto show. Goyal urged the industry to involve sectors which are not yet represented such as chemicals, testing agencies, regional transport officers and ...

'Higher tariffs on Indian pharma, auto likely under Trump's America First'

With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies. The US is India's largest trading partner, accounting for over USD 190 billion of annual trade. Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said that Trump may extend tariffs beyond China to include India and other countries. Trump had earlier called India a "large tariff abuser" and in October 2020 labelled India as the 'tariff king'. These remarks suggest that Trump's second term could bring tougher trade negotiations. he said. "His America First agenda would likely push for protective mea

Maruti misses Street estimates, Q2 PAT slides 18% to Rs 3,102 crore

Shares of MSIL on Tuesday declined over 4 per cent to settle at Rs 11,010 apiece on the BSE. Intra-day, it slumped 6.42 per cent to Rs 10,744.10. At the NSE, it tumbled 4.16 per cent to Rs 11,005

Maruti Suzuki Q2 Preview: Revenue may jump up to Rs 37,811 crore YoY

In September 2024, Maruti Suzuki reported total sales of 184,727 units, comprising 148,061 units in domestic sales, 8,938 units sold to other OEMs, and 27,728 units in exports

JBM Auto Q2FY25 results: Net profit increases 11.45% to Rs 49.15 cr

Automotive and EV firm JBM Auto Ltd on Monday reported an 11.45 per cent growth in net profit to Rs 49.15 crore in the September quarter over the same quarter last year. The company had posted a net profit of Rs 44.10 crore in the July-September period of FY 24. Net sales, including other operating income for the second quarter stood at Rs 1,285.98 crore compared to Rs 1,231 crore in Q2FY24, a year-on-year increase of 4.47 per cent, the company said. EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 18.54 per cent at Rs 174.81 crore for the September quarter against Rs 147.47 crore in the corresponding quarter of Fy 24, JBM Auto said. The company said it delivered the highest ever Q2 sale in OEM business, adding that it also saw strong order book in OEM division and tool room division which will contribute in continuing the impetus growth of the company in FY25.

Nifty Auto skids below 100-DMA; Bajaj Auto, Hero Moto can dip another 9%

Two-wheeler stocks bore the brunt of the selling pressure in auto on Thursday, as the Nifty Auto index plunged below its 100-DMA for the first-time in 18 months; Tech charts suggest more pain ahead.

Siam, others hail Ratan Tata's contributions in automobile sector, society

Ratan Tata championed innovations that are helping build a better tomorrow, auto industry body SIAM said on Thursday while paying homage to the eminent industrialist who passed away on Wednesday night. "Indian automobile industry is deeply saddened with the passing away of Shri Ratan Tata, a towering figure, who has played a stellar role in bringing the Indian auto industry to the global stage," Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said in a statement. A great humanist, visionary and leader, he championed innovations that are helping build a better tomorrow, he added. Hero MotoCorp Executive Chairman Pawan Munjal termed Tata as a visionary leader and ethical statesman. "I am deeply saddened by the passing of Shri Ratan Tata. His unparalleled contributions as a visionary leader and ethical statesman have left an indelible mark on our nation," he stated. Munjal further said, "Tata's commitment to integrity and innovation not only transformed .

Auto major M&M debuts small commercial vehicle to bridge intracity gap

Priced at Rs 7.99 lakh for the entry-level product, M&M launched the diesel and CNG variants, and an electric version will come in the future

JSW MG Motor ranks highest in dealer satisfaction, says Fada survey

Hyundai, which was the topper last year, drops to third position

Mercedes-Benz to manufacture EQS SUV 580 in India, first outside the US

Luxury carmakers are focusing on bringing in more models that will be made in India

Statsguru: New schemes to boost EV adoption, align with climate goals

The schemes, PM Electric Drive Revolution in Innovation Vehicle Enhancement (PM E-DRIVE) and PM-eBus Sewa-Payment Security Mechanism (PSM) will replace existing EV subsidy schemes

Claims of ICE vehicle demise self-serving: Bajaj Auto's Rakesh Sharma

Sharma talks about Bajaj's mega electric vehicle play

Auto dealers can claim ITC on demo cars used for promoting sales: CBIC

Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law, the CBIC has said. However, no ITC would be available if demo cars are used by dealers for their own purpose during the course of the business. In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said authorised dealers are required to maintain demo vehicles at their sales outlet as per dealership norms which are used for providing trial runs and for demonstrating features of the vehicle to the potential buyers. These vehicles are purchased by the authorised dealers from the vehicle manufacturers against tax invoices and are typically reflected as capital assets in books of account of the authorized dealers. As per dealership norms, these vehicles may be required to be held by the authorized dealers as demo vehicle for certain mandatory period and may, thereafter, be sold by the dealer at a written down value and applicable tax is ..

Auto sector needs to focus on customer service, quality assurance: Gadkari

The Indian automobile industry is at the cusp of a revolution and it needs to focus on customer service, after-sales and quality assurance, Union Minister Nitin Gadkari said on Wednesday. In a video message to the Auto Retail Conclave organised by Federation of Automobile Dealers Associations (FADA), Gadkari, the Minister for Road Transport and Highways acknowledged that automotive dealers play a key role in realising the government's mission of a self-reliant India. "The automotive industry is at the cusp of the revolution, and as we look to the future, it is critical that the sector continues to innovate, especially in areas like customer service, after-sales and quality assurance," Gadkari said. The minister further said, "As a distributor of automobiles, you play a pivotal role in the government mission of 'make in India' and contribute significantly to realising our vision of self reliant India." Stating that the government deeply values the role that FADA and its members play

Fada seeks legislative safeguards to prevent OEMs exiting abruptly

Automobile dealer body FADA on Wednesday sought legislative safeguards to prevent companies from exiting the country abruptly in order to safeguard the interest of dealers and employees working at the dealerships. Speaking at the 6th Auto Retail Conclave here, newly appointed President of the Federation of Automobile Dealers Associations (FADA) C S Vigneshwar also asked the government to issue strong directives to state governments for the full implementation of the CMVR (Central Motor Vehicles Rules). Addressing Minister of Heavy Industries HD Kumaraswamy, Vigneshwar said, "We need your support, and hence we request legislative safeguards to prevent OEMs (Original Equipment Manufacturers) from exiting the country abruptly, leaving dealers, employees, and customers stranded." Various automotive OEMs like Ford, General Motors and Harley Davidson have ceased sales operations in India since 2017. As per FADA, it has resulted in layoffs of thousands of people working at ...

Will Maruti put India's EV mission on fast lane? MSIL MD & CEO believes so

Japanese carmaker wants 'sustainable' growth in electric car market by addressing three major concerns

With 45% growth, momentum expected to continue even in 2025: Toyota

TKM's sales boom comes at a time when other car companies are seeing a slowdown amid low demand and high inventory with dealers

Kia tops Fada's overall customer experience index in mass-market space

In the luxury segment, Audi takes the top spot

Auto parts manufacturer Kross' Rs 500 cr IPO to open on September 9

Auto parts manufacturer Kross Ltd is set to float its Rs 500-crore initial share sale on September 9 for public subscription. The three-day Initial Public Offering (IPO) will conclude on September 11 and the bidding for anchor investors will open for a day on September 6, according to the Red Herring Prospectus (RHP). Jamshedpur-based company's IPO is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer for Sale (OFS) aggregating up to Rs 250 crore by the promoters. Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate purposes. Founded in 1991, Kross is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide range of forged and precision machined high-performance safety critical parts for medium and heavy commercial vehic