Page 17 - Auto Sector

Nearly Rs 41,000 crore unspent from govt's Rs 1.97 trillion PLI fund

This means that 80 per cent of the total allocated amount or Rs 1.56 lakh crore will be used to pay incentives to companies eligible to claim benefits over the next few years

Tata Motors Q3 results: Net profit jumps 137% to Rs 7,025, revenue up 25%

The company remains upbeat on all three auto businesses and expects to do better in Q4

PLI will be among biggest sources of funds for EV biz next yr: Tata Motors

Balaji said that PLI benefits would range from 13 to 18 per cent of revenue for vehicles that are approved by the government for PLI

More people choosing lower EV variants, 'range anxiety' improves: TaMo

People realising they are going to use electric cars in the city, says a senior executive

Auto parts firm Sundram Fasteners Q3 profit rises 10% to Rs 118.07 cr

Company plans capex of Rs 300 cr in FY24, has got orders to serve large electric vehicles

Automakers post highest ever monthly passenger vehicle wholesales in Jan

The preceding peak occurred in October 2023, with domestic sales by automakers reaching 391,811 units in India during the festive period

Bharat Mobility Global Expo 2024: Venue, dates, tickets details here

The expo is poised to draw attendees from domestic stakeholders and international participants across 47 countries. Here is everything you need to know about India's global mobility expo

Mercedes-Benz launches its most affordable SUV in India: Check price here

Mercedes-Benz GLA is available in three trims - GLA 200, GLA 220d 4Matic and GLA 220d 4Matic AMG Line

Maruti Suzuki Q3 results: PAT up 33% at Rs 3,207 cr amid high SUV sales

The company sold 501,207 units in the third quarter of this year, which was 7.6 per cent more than in the corresponding period of the last financial year

Maruti Suzuki Q3: Analysts expect profitability to weaken QoQ; here's why

Maruti Suzuki news: Analysts expect Q3 earnings to take a hit on a sequential basis on the back of adverse product mix and higher discounts offered during the December quarter.

Olectra Greentech Q3 results: Net profit rises 77% to Rs 27.11 cr

Electric vehicles maker Olectra Greentech on Monday reported a 77 per cent rise in its net profit to Rs 27.11 crore for the December 2023 quarter on the back of higher revenues. "The PAT (net profit) stands at Rs 27.11 crore (in the October-December quarter), compared to Rs 15.30 crore in the previous fiscal year up by 77 per cent," a company statement said. Its revenue surged 33 per cent in Q3 FY2023-24 to Rs 342.14 crore, it said, adding that the significant revenue growth was recorded due to higher deliveries. The company has delivered 1,615 electric vehicles to date. Strong demand continues with the total number of bus orders on hand at 8,088 units, it added. During the quarter under review, Olectra delivered 178 electric vehicles, against 142 in 2022-23, an increase of 25 per cent. Olectra Greentech Managing Director KV Pradeep said, "We are pleased to report strong growth in our consolidated revenue and profitability for the Q3 and 9 Months FY23-24. Our focus continues on ..

Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities

The company plans to deploy 10,000 e-vehicles across Bengaluru, Delhi and Hyderabad over 2 months

Mercedes-branded $1 billion tower is Dubai's latest bet on super rich

Last year, Binghatti broke ground on a tie-up with Bugatti Automobiles SAS on a project that will include elevators to transport cars to penthouses

Loans for purchasing cars a rising trend in India, finds Jato Dynamics

Fleet sales, which comprise car sales to companies, organisations, and government entities that own a fleet of cars, have also seen a significant increase

Bajaj Auto Q3 net profit up 38% at Rs 2,032 cr on good domestic biz

No.3 in electric 2-wheeler market riding on Chetak, clocks 10K units-pm volumes

TVS Motor Q3 net profit up 59% to Rs 479 cr amid rise in two-wheeler sales

During the quarter under review, the company's revenue from operations increased by 25 per cent to Rs 10,113.94 crore, while it was seen at Rs 8,066.13 crore during the third quarter of 2022-23

Result preview: Auto Inc may ride on strong revenue growth in Dec qtr

Prabhudas Lilladher expects the companies under its coverage to report an aggregate revenue growth of 20 percent YoY (including Jaguar-Land Rover) and 16 percent (excluding JLR)

Ather Energy announces its new family-oriented electric scooter 'Rizta'

Despite the shift towards a family-centric approach, Mehta assured customers that the Rizta will uphold the quality and reliability synonymous with the Ather brand

Ford reduces production of F-150 Lightning pickup truck as EV demand slows

The announcement is the latest sign of softening demand for EV trucks. General Motors in October postponed the opening of a $4 billion electric truck plant in Michigan for a year

Retrofitting saves 29% for buses, 24% for trucks compared to new EVs

According to the findings, retrofitting extends the lifespan of vehicles by 8-10 years and offers a faster payback compared to new electric vehicles (EVs)