Page 21 - Auto Sector

Auto industry Q2 preview: Product mix, commodity tailwinds to aid margins

Brokerages expect marginal drop in two-wheeler volumes

Two-wheeler sales back on track; analysts expect 8-12% growth in FY24

Industry experts are hoping for better numbers during the festive period's sweet spot, set to unfold over the next 42 days

Indian auto sales surge 20% in September, despite slump in tractors

Positive market sentiment fuelled by favourable monsoon leads to growth in most categories, but high inventory levels raise concerns for dealers as festive season approaches, FADA data shows

Automobile industry capable of becoming export-led $1 trn by 2035

The Indian automobile sector has the potential to become an export-led USD 1 trillion industry by 2035, according to a report. The industry can achieve the size enabled by manufacturing, innovation and technology leadership, as per a report by Arthur D Little. Arthur D Little Managing Partner (India & South Asia) Barnik Chitran Maitra noted that India's automotive industry can become a global hub for design, development, and production, appealing to international markets. To achieve this, players across the industry must upgrade their capabilities for reliable and competitive global manufacturing, he added. "India's strength in automotive software and ER&D (engineering research and development) can thrive by offering solutions aligned with emerging trends like zonal architecture and Advanced Driver Assistance Systems (ADAS). India has the potential to be an automotive innovation leader, with a thriving well-funded startup ecosystem," Maitra said. This highlights the increasing

Indian auto sector to see 70-80% rise in demand for apprentices: Report

The anticipated boom in apprentice recruitment can be attributed to the auto sector's robust performance, which is influenced by macroeconomic factors and positive industry sentiments

Maurti Suzuki gains 3% to hit fresh lifetime high in a weak market

The stock of automobile major quoted higher for the fourth straight day, surging 6 per cent during the period

Economy on growth path; auto, pharma, tourism sectors to add new jobs: PM

Prime Minister Narendra Modi on Monday said the Indian economy was on the path of rapid growth which had led to creation of big opportunities for employment of the youth. Addressing a Rozgar Mela where he distributed over 51,000 appointment letters to the youth, he said automobile, pharma, tourism and food processing sectors were expected to grow at a rapid pace and open up employment opportunities for the youth. Modi addressed the Rozgar Mela virtually as the new appointees in central paramilitary forces, Narcotics Control Bureau and the Delhi Police joined in from 45 locations across the country. The prime minister said India had emerged as the fastest growing economy and would soon be among the top three economies in the world during this decade and bring benefits to the common man. "For any economy to grow, it is imperative that every sector develops. From the food sector to pharmaceuticals, from space to start-ups, when every sector grows the economy will move ahead," he said

Atul Auto zooms 19% on heavy volumes, hit highest level since May 2018

A combined 3.33 million shares, representing 12.8 per cent of total equity of Atul Auto, changed hands on the NSE and BSE till 12:05 PM

Buckling up: India launches first car crash test programme 'Bharat NCAP'

30 models already submitted for testing under BNCAP, says Gadkari

Mahindra looks to scale up global play; unveils new pickup concept

Mahindra & Mahindra on Tuesday said it aims to bolster its presence globally as it unveiled a pickup concept, which it plans to introduce in the international markets. The auto major, which also showcased the electric version of its sports utility vehicle Thar, noted that it plans to sell its Born Electric (BE) products in markets like Europe and the UK. The company said its products are doing well in the domestic market and it is now time to scale up business in overseas geographies. "We are going to go global...We are off course a strong brand in India, we believe our products are able to compete with the best in the world," M&M Executive Director and CEO (Auto and Farm Sectors) Rajesh Jejurikar said here. Elaborating further, Mahindra & Mahindra President (Automotive Sector) Veejay Nakra said the automaker is a leader in various segments in the domestic auto market. "We intend to add new potential markets like the UK and Europe and when we bring the global pickup, we ...

Mercedes-Benz drives in new SUV GLC in India, eyes double-digit sales

Luxury auto maker Mercedes-Benz on Wednesday launched the latest version of its premium SUV GLC in India with price starting at Rs 73.5 lakh (ex-showroom). The second generation GLC comes with petrol and diesel power trains tagged at Rs 73.5 lakh and Rs 74.5 lakh, respectively. The auto maker said the company has received over 1,500 bookings for the model since the start of the booking process. In an interaction with PTI, Mercedes-Benz India Vice-President (Sales and Marketing) Lance Bennett said the company is looking at a double-digit sales growth this year with GLC sales expected to account for 15 per cent of the company's total sales. "We've got some really good demand in the first couple of weeks of order taking. The GLC is a very important product for us," he said. Bennett said Mercedes-Benz has sold over 13,000 units of the previous generation GLC in India and expects robust demand for the new GLC as well. Locally assembled at the company's manufacturing plant at Chakan in

Tata Motors to remain focused on profitability, cash flows: Chandrasekaran

Tata Motors on Tuesday said it will continue to remain focused on executing its strategy to deliver growth, profitability and free cash flows consistently. Addressing virtually Tata Motors shareholders at the company's 78th AGM here, chairman N Chandrasekaran also said that the domestic business is expected to achieve the 'zero debt' target by this fiscal while the subsidiary company JLR will achieve it in the calendar year 2024. "We have an exciting journey ahead of us and the management teams are very committed and focused towards accelerating our journey towards this transformation," Chandrasekaran told shareholders. "Tata Motors will continue to remain focused on executing its strategy to deliver growth, profitability and free cashflows consistently," he said. Looking ahead, he said, all three businesses of the company - commercial vehicles, passenger vehicles and electric vehicles -- and Jaguar Land Rover are all geared for growth as well as leadership in each of their ...

Hyundai Motor preparing for new group leadership position for EVs in India

South Korean automotive group Hyundai Motor is preparing for a "new Group leadership position in EVs" in India given that the country will be a competitive electric vehicle battleground in the years to come, the company said on Tuesday. The group also plans to make its R&D centre in Hyderabad a hub for future mobility research, including electrification and autonomous driving, while it is lining up five electric vehicles to be introduced in India by 2032. In a mid-to-long-term mobility strategy review of the Indian market during the visit of Hyundai Motor Group Executive Chair Euisun Chung to the country, the group said it has discussed the preparations for a "new Group leadership position in EVs" given that India will be a competitive EV battleground in the years to come. The group expects the Indian passenger car market to exceed 50 lakh units by 2030 with SUVs estimated to account for 48 per cent while EVs are expected to reach 10 lakh units. During his two-day tour, Chung ...

Maruti expected to launch 10 new models in next 8 years: Bhargava

"We expect the demand for exports to continue to grow and export volumes are projected at 750,000-800,000 cars by FY31," he mentioned

M&M Ltd Q1FY24 result: Consolidated net profit up 56% YoY to Rs 3,683 cr

The revenue from operations for Q1FY24 came in at Rs 33,406.44 crore, compared to Rs 28,412.38 crore year-on-year

Maruti Q1 revenue likely to be flat QoQ; high RM costs may contract margins

On the bourses, shares of Maruti Suzuki surged 16 per cent so far this calendar year (CY23), as against a 9 per cent jump in the S&P BSE Sensex

Bajaj Auto posts 41% jump in Q1 net profit on strong domestic sales

Its export volumes improved sequentially by 12 per cent amid the continued macro challenges in overseas markets

After Centre's demand, Tesla agrees to set up vendor base in India: Report

After relocation to India, vendors will be required to form joint ventures with Indian companies as India does not support 100% Chinese investments post-2020 Galwan clashes

Tesla discusses incentive scheme for auto sector with Indian officials

Tesla Inc asked how it could take part in domestic incentives in India related to car and battery manufacturing

PV dispatches highest ever in April, grow 13% YoY, shows SIAM data

2W dispatches up 15% YoY, auto body says all segments have posted growth this April, indicating smooth shift to BS VI Phase 2 emission norms