Page 12 - Auto Sector

Tata Motors looks to drive into mid-SUV space with Curvv SUV Coupe

Curvv will be launched with the EV version, and within a month the ICE versions will come. EV customers also want a higher range

Ashok Leyland rallies 7% as management eyes solid growth post Q1 show

With healthy order wins in the buses segment in the recent past and stable growth trajectory, ICICI Securities said they are positive on the stock with long term investment horizon.

PLI for auto sector sees investment proposals worth Rs 67K cr: Eco Survey

The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated. So far 85 applicants have got approval under the scheme, it noted. The PLI scheme for automobile and auto components has a budgetary outlay of Rs 25,938 crore from FY23 to FY27. The scheme has been sub-divided into champion OEM incentive scheme and component champion incentive scheme. Besides, the government has approved the National Programme on Advanced Chemistry Cell (ACC) Battery Storage in May 2021 with a budgetary outlay of Rs 18,100 crore. The growth in the value of domestic production and consumption of automotive parts moderate

Budget 2024: Green tech, vehicle scrapping aid; auto sector's wishlist

Budget 2024: During the Interim Budget presentation, Nirmala Sitharaman had highlighted that the Centre is keen on expanding and strengthening the electronic-vehicle ecosystem

Auto component industry to see moderate growth this fiscal: ICRA

The Red Sea crisis is likely to impact the margins of the auto component industry over the next few quarters amid higher container rates and shipping time, credit ratings agency ICRA said on Thursday, projecting a moderate growth for the industry this fiscal. Close to two-thirds of the auto component exports are made to North America and Europe, and one-third of the imports is made from these regions, as per the ratings agency. "The disruption along the Red Sea route has resulted in a surge in container rates by 2-3 times in YTD (year-to-date) this calendar year compared to CY2023, while shipping time has also increased by around two weeks," ICRA said. The operating margins are set for a year-on-year improvement of around 50 basis-points in FY2025, benefitting from better operating leverage, higher content per vehicle, and value additions, while remaining exposed to any sharp volatility in commodity prices and foreign exchange rates, it said. Also, the industry's liquidity position

Registration fee waiver in UP to spur hybrid car sales? What Nomura says

Toyota, with its dominant market share in strong hybrids in India, analysts said, is anticipated to be a primary beneficiary of this policy change, followed by Maruti Suzuki (MSIL)

Rs 500-crore EMPS 2024: Only 3.6% vehicle sales target achieved so far

The decrease in participation in the scheme has led to low sales numbers for the EV industry, which had been experiencing sustained growth since the launch of FAME in 2015

Launch triumphs, JLR margin turn the ignition key to gains for Tata Motors

Some brokerages foresee growth via higher market share, prices, margins

Volkswagen launches first certified pre-owned store in Coimbatore

German automaker Volkswagen on Wednesday said it has launched its first brand store under its Certified Pre-Owned business segment here in Tamil Nadu. The company, in line with the brand's global transition has rebranded its used car business 'Das WeltAuto' to 'Volkswagen Certified Pre-Owned' cars. Witnessing more than 10 times of volume growth over the last five years, the auto major said the Pre-Owned vertical would continue to offer customers same high-quality, reliable vehicles backed by a comprehensive inspection processes and warranty coverage. Volkswagen India operates 139 touchpoints trading in certified pre-owned cars across the country, with 36 of these functioning as exclusive certified pre-owned outlets. Volkswagen plans to expand this footprint in a phased manner by March 2025, a company statement said here on Wednesday. The company's popular sedan 'Virtus' has been driving the sales volume and holds 30 per cent market share in the segment in Tamil Nadu. The strategi

Hindustan Zinc committed to partner with India's auto firms, says CEO

Vedanta group firm Hindustan Zinc on Wednesday said it is committed to partner with the country's auto companies to "unlock zinc potential" and drive India's mobility. Zinc's usage in the automotive sector, through galvanised steel, offers significant fuel and emission savings by providing high degree of corrosion resistance to lightweight steel bodies, ensuring durable, long-lasting vehicles with longer anti-perforation warranty against corrosion. "Our zinc solutions are not only cost-effective and adaptable for complex designs but also environmentally responsible, making zinc a key material for a cleaner and more sustainable tomorrow," Hindustan Zinc CEO Arun Misra was quoted as saying in a statement. The company -- the country's largest and the world's second-largest zinc producer -- recently showcased its extensive product offerings for the automotive sector at the fourth Automotive Component Manufacturers' Association (ACMA) Raw Material Conclave & Exhibition. The company ...

Tata Motors drives Tata group companies' finances to new high in FY24

Tata Motors' consolidated net profit was up more than 1,200 per cent to Rs 32,203 crore in FY24 from the Rs 2,351 crore in FY23

Electric scooter sales flatten while Ola, Bajaj garner more market share

The question is whether the two wheeler market will cross the one million registration mark which eluded the industry in the last financial year

M&M may surpass Tata Motors, Maruti Suzuki in PV segment in June: Nuvama

Raghunandhan NL, director at Nuvama, predicts a 13 per cent overall volume growth for M&M's automotive sector (including PVs, commercial vehicles, and three-wheelers), reaching 70,500 units

Schaeffler India's stock zooms on launch of gear system for hybrid vehicles

The company on Tuesday said that it has launched planetary gear system (PGS) from Schaeffler's Hosur Plant

CarTrade shares fell after Highdell, MacRitchie offload 13% stake

The company came out with a Rs 3,000-crore IPO in August 2021, where it sold shares at Rs 1,618 apiece

Demerger will help secure synergies in EVs, autonomous vehicles: TaMo chief

PV business will invest in vehicle platforms, products; CV business will focus on spares, smart mobility solutions to reduce the volatility of vehicle sales

More MNCs eye IPO route after passenger car major Hyundai Motor move

Investment bankers say early stage talks on with about half a dozen foreign firms

Tata Punch and Nexon score perfect 5 in first BNCAP EV crash test

The Ministry of Road Transport and Highways has introduced an indigenous star-rating system for crash-testing cars

Ather plugs into Maharashtra to roll out 1 million e2Ws every year

To bet Rs 1K cr on Aurangabad plant; capacity will hit 1.42 mn

Tractor sales harvest early monsoon benefits in FY25, shows revival signs

Companies report a buoyant sentiment among farmers with the onset of the monsoon