Page 17 - Auto Sector

Is 2024 the year when electric cars finally come to the automotive party?

Most of the big carmakers are eligible for PLI. It will help them reduce their costs. Carmakers also see India as a potential hub for electric car exports

6x rise in demand for women apprentices in manufacturing sector: TeamLease

Auto, electronics sectors have become gender-agnostic in apprentices' recruitment for the shop floor: TeamLease

Ola Electric slashes prices of three S1 models by up to Rs 25,000

Besides Ola Electric, several EV players such as Ather, Okaya, and Bajaj have slashed the prices of their products to make electric vehicles more affordable and accelerate their adoption in India

Commercial vehicle sales likely to enter into a downcycle in 2024-25

Volumes are expected to dip by 4-7 percent

Automotive supplier ZF Group inaugurates new manufacturing unit in TN

With an Rs 1,800 crore project outlay, ZF plans to strengthen its manufacturing presence and expansion in India with investment realization by 2030

Auto components sector growth may ease to 5-7% in FY25, says ICRA

On the EV front, there is significant opportunity. At present, only 30-40 percent of the EV supply chain is localised

In the fast lane: Retail car sales hit a record in Jan on wedding demand

Concerns persist regarding PV inventory levels, which are now within the 50-55 day range

Hero MotoCorp Q3FY24 results: Profit rises 60% to Rs 1,073 crore

Indian consumers tend to splurge during the festival period, regarded as an auspicious time for big-ticket purchases such as cars, two-wheelers and electronic goods

Declining raw material prices help to boost tyre makers' profitability

Among raw materials used by the tyre industry, Brent crude oil prices saw a 6 per cent drop year-on-year

Tax implications likely to influence Hyundai's decision to list Indian arm

Hyundai Motor is exploring an initial public offering (IPO) of its Indian unit to raise around $3 bn (at a valuation of up to $30 bn), according to sources

Kinetic relaunches iconic Luna after 2 decades in electric avatar

Luna was launched in 1972 and it went out of production in 2000

GFCL EV to invest Rs 6,000 crore in indigenous EV battery supply chain

Vivek Jain, chairman of INOXGFL Group, said the investment highlights its pivotal role in shaping the future of the EV and ESS battery industry

Hybrid vehicles seen racing ahead in auto battle on possible tax sop

Hybrids, which combine a battery with an internal combustion engine (ICE), usually petrol, are cheaper and suffer no range anxiety while boosting the overall fuel efficiency.

Only 38% of Fame 2 subsidy used so far in FY24, shows govt data

In 2023-24, according to MHI, the budgeted allocation was Rs 5,171.97 crore

Ashok Leyland Q3 results: Net profit jumps 73% to Rs 608.85 crore

The company achieved a historic high commercial vehicle volume of 1,38,416 units in the first nine months of the fiscal year

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