Page 13 - Auto Sector

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

Maruti to drive deep into small towns via Arena Satellite showrooms

Banerjee said that in the digital era, there is no real divide between urban and rural. However, in Tier-II and Tier-III cities, there is an affinity for hatchbacks

Italian carmaker Maserati banking on entrepreneurs to drive India story

Maserati, which currently operates just a single dealership in India, sold less than 50 cars in the country in 2023

Japanese Pioneer plans to scale up biz with Indian automakers for future

Japanese car audio and entertainment system maker Pioneer on Tuesday said it is eyeing partnerships with automakers in India as part of its future growth strategy. The company globally works with various automakers as a supplier of automotive items like infotainment systems, speakers etc. In India, however, the company's focus till date has been primarily on the aftermarket business. "In India, honestly, so far in the last 16 years, the focus was never on the OEM side, and which I would say, is a major shift. "So, going forward, one of the main growth agendas is going to be getting established in the OEM (original equipment maker) world," Pioneer India MD Aniket Kulkarni told PTI in an interaction. The partnerships with automakers is going to be one of the focus areas going forward, because in terms of growth, it has huge potential, Kulkarni stated. He noted that the company is already in talks with various automakers but declined to share details. "So, there are very active pro

Principal scientific advisor bats for inclusion of e-trucks in FAME-III

Outlines comprehensive plan to transition India's trucking sector to zero-emission vehicles

TVS launches new Jupiter 110; targets over 12% growth in scooter segment

At present, the industry is growing at a rate of 8 per cent, and TVS Motor is growing at a rate of 12 per cent

EMPS progress: Achieves 60% of revised target, supporting 334,260 vehicles

Government sources credit the turnaround to the onboarding of new players and the addition of more models by existing companies, which has driven increased disbursement

Waning demand expected to hit breakneck rally in India's auto stocks

India's NSE Nifty Auto Index is down 4.1 per cent in August, more than double the decline in the Nifty 50 Index

M&HCV sales likely to surpass pre-Covid-19 peak of 419,000 units in FY25

Sanjeev Kumar, president - MHCV, Ashok Leyland, said that the first quarter sales growth is currently around 8 per cent, driven by demand for buses

Thar ROXX launch boosts M&M stock price by 3%; up 16% in 3 months

The surge in the stock price followed the company's announcement of the launch of Thar ROXX, its latest sports utility vehicle (SUV).

Hero MotoCorp Q1 results: Net profit rises 47.3% to Rs 1,032 crore

Crosses Rs 10,000 crore revenue mark for the first time; posts highest ever Q1 profit

In a first: CNG passenger vehicles ride past diesel in sales race

The share of CNG in the overall passenger vehicle market increased from 13.63 percent in June 2023 to 18.5 percent in June 2024

As EV subsidies transition from FAME to EMPS, how is the industry coping?

The industry witnessed a decline after the expiry of FAME-II, despite the introduction of EMPS

Tata Motors Q1 FY25 results: Net profit jumps 74% to Rs 5,566 crore

The revenue from operations for the April-June quarter was up 5.7 per cent to Rs 107,316 crore

Tata Motors' board approves proposal to demerge into two listed companies

The transaction is subject to necessary shareholders, creditors, and regulatory approvals, which can take around 12-15 months to complete

Ashok Leyland falls 4% after July sales disappoint. Check details here

The fall in the share price came after the automotive manufacturer reported disappointing July 2024 sales numbers.