Page 15 - Auto Sector

Volume growth, softer commodity prices to drive Q4 margins of auto firms

26% volume growth seen in two-wheelers and 12% in passenger vehicles

Tata Motors: Positives fully priced in, analysts still upgrading the stock

Company expects to improve EV penetration and expand margins in CV segment

Nearly one in two luxury cars sold in March quarter was Mercedes Benz

Overall luxury car sales have grown 14% in first three months of 2024

Tata Motors and Shell partner to expand EV charging network in India

This collaboration is expected to address the challenge of limited charging infrastructure, which is a major hurdle for the wider adoption of electric vehicles in India

Muted exports for auto sector in FY25 amid weak overseas demand: Ind-Ra

A slowdown in demand from both domestic commercial vehicle manufacturers and subdued exports could limit revenue growth to a range of 6-8 per cent year-over-year

Maruti Suzuki adds new line, to boost manufacturing capacity by 4.5%

India's largest carmaker operates three manufacturing plants across the country

Musashi appoints Naoya Nishimura as CEO for India and Africa region

Previously, Naoya Nishimura was the global Chief Research & Development Officer at Musashi

Stocks to Watch today: TaMo, Axis Bank, RIL, Muthoot Microfin, auto shares

Stocks to watch on Tuesday, April 09, 2024: Tata Motors JLR sales rose 11% in Q4; Bain Capital to sell balance stake in Axis Bank; FADA warns of slower retail auto sales.

Govt asks Tesla to lay down investment plans for EV plant in India

Vietnamese automaker VinFast recently broke ground on an EV manufacturing facility in India's southern state of Tamil Nadu

EV push to create more jobs despite disruption to traditional roles: Report

The report also says that Pune, India's auto hub, should take the lead in a smooth transition to electric vehicles for Maharashtra

Despite subsidy cuts, EV sales zoom 41% in FY24; penetration at 6.8%

The e2W category contributed around 60 per cent in the overall EV sales

AMO Mobility launches a new Jaunty i Pro high-speed electric scooter

Plans to manufacture 30,000 vehicles by FY25

BMW Group, Tata Technologies partner for automotive software hub in India

The JV will deliver automotive software solutions for BMW's premium vehicles and digital transformation solutions for its business IT

Kia India looks to expand sales, service network to 700 touchpoints

Kia India on Friday said it is planning to have around 700 sales and service touchpoints in 300 cities by the end of the year. The automaker, which sells models like Seltos and Sonet, has 522 such touchpoints across 236 cities. The company said it is focussed on strengthening its presence in Tier-1 and Tier-2 markets, contributing 40 per cent to its total network strength. Kia India is also focused on expanding its touchpoints in the Tier-4 and upcountry markets, it added. "We have expanded our touchpoints network from 285 to 522 since starting our operations in India. As part of Kia's 2.0 strategy, we are aiming to close the year with over 700 touchpoints, thereby making Kia more accessible to our esteemed customers," Kia India National Head Sales & Marketing Hardeep Singh Brar said. The automaker is also committed to sustainability by introducing the green workshop concept and encouraging all its dealer partners to transition to eco-friendly workshops, he added. Kia India also

Volkswagen targets 2-3 times faster growth than Indian PV industry in 2024

The firm's India brand director, Ashish Gupta said Virtus itself is growing in its segment (sub-compact sedan) and its rising sales will also assist the company in reaching the 15% growth target

New scheme for electric vehicles may put global majors in fast lane

While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully

Initial cost of e2W may rise 10% due to reduced subsidy, says ICRA

Credit rating agency ICRA expects the initial cost of an electric two-wheeler (e-2W) to increase by 10 per cent due to the reduced subsidy

M&M posts 40% growth in SUV sales in Feb, overall production grows by 26%

The company has been increasing its production steadily and as of February 1, it had opened bookings for around 226,000 SUVs

First-time car buyers now choosing SUVs: Hyundai India COO Tarun Garg

Garg expressed his disagreement with concerns that the drop in hatchback sales implies that several first-time buyers are being edged out of the car market itself

Shut OLX Auto due to focus on profitable growth: CarTrade's Aneesha Menon

Our dominance in the consumer group is unparalleled, especially in the auto portal segment, said Aneesha Menon