Page 16 - Auto Sector

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

Chennai brains to lead Ford's global AI drive; Group on hiring spree

Ford Business Solutions to hire 3,000 more for its city unit, taking total staff strength to 15,000

Tata Motors to split CV, PV businesses into separate listed companies

Analysts feel move will allow them to fetch better valuation for PV business that houses the EV biz

SUVs power best ever car sales for February; two-wheeler sales rise

During February alone, the share of SUVs in sales was around 51.5 per cent. Rural growth cumulatively in 2023-24 was 11.7 per cent against urban growth of 8 per cent

Gensol says it has approval for its flagship two-seater electric car

Vehicle approved by Automotive Research Association of India will have driver assistance feature

Bringing a plug-in-hybrid for India makes no sense for Skoda: Senior exec

Automakers have to be 'flexible and agile' to act according to customers' wishes and government regulations, says Martin Jahn

Skoda Auto India to drive in Brezza, Sonet rival in first half of 2025

Plans four EVs for India over next few years

Electric vehicles set to corner a third of Volvo Car India's 2024 sales

Volvo has also officially confirmed its plans to introduce two additional electric vehicles in the Indian market by 2025

Driving an industry

R C Bhargava's latest book is a step-by-step recounting of the Maruti story, but its real value lies in the many lessons that the story holds both for policymakers as well as manufacturers

Govt hits 79% of revised EV targets under FAME II as of February 18

Based on segments, the target achieved in electric two-wheelers is 78 per cent, for electric three-wheelers 88 per cent, and for electric four-wheelers much lower at 56 per cent

DRI initiates inquiry against Maruti Suzuki over incorrect HSN code

Maruti Suzuki India on Wednesday said the Directorate of Revenue Intelligence has initiated an inquiry against it over incorrect HSN (Harmonized System of Nomenclature) code of an imported component. In a regulatory filing, Maruti Suzuki India said it has received a communication regarding the inquiry from the Directorate of Revenue Intelligence (DRI), Hyderabad Zonal Unit, on February 20, 2024. "As perI inquiry, the imported good 'Shaft Assy Propeller' is imported under incorrect HSN code as per explanatory notes of WCO (World Customs Organisation). Also, IGST (Integrated Goods and Services Tax) has been paid on few automobile parts at the rate of 18 per cent whereas the correct IGST is 28 per cent...," the company said. The company will file a suitable reply toI, the filing said adding, that there is no major impact on financial, operation, or other activities due to this inquiry.

JSW Group, Volkswagen begin talks to set up electric vehicle joint venture

Talks with JSW came within days of the German carmaker announcing it would supply components for EVs and battery cells to Mahindra & Mahindra

EV startup Vidyut raises $10 million, aims to expand to 40 cities

Vidyut to deploy new funds to scale its new offerings include EV insurance, lifecycle management, and EV resale

40% consumers want EV range to be above 400 kms per charge: Deloitte survey

The preference for an internal combustion engine-run vehicle fell to 49 per cent in 2024 from 53 per cent in 2023. In India, the survey polled 1,000 consumers