Page 21 - Auto Sector

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

Eicher Motors Q4 results: Consolidated net profit rises 49% to Rs 906 cr

Total revenue from operations rose to Rs 3,804 crore for the fourth quarter as compared with Rs 3,193 crore in the year-ago period

April auto retail sales drop of 4% on decline in two-wheeler demand

The two-wheeler and passenger vehicle categories experienced YoY degrowth of 7% and 1%, respectively

Maruti Suzuki to boost capacity to keep up with passenger vehicle demand

Indians bought a record 4 million passenger vehicles in fiscal year 2022-23, led by demand for sports utility vehicles

Discounts are back to 2019 levels; is this a good time to buy a car?

Dealers across brands are slashing prices by Rs 20,000 to over Rs 1 lakh, depending car model

Guruprasad Mudlapur appointed as Managing Director of Bosch Group in India

Auto components major Bosch Ltd on Wednesday announced leadership changes with Guruprasad Mudlapur appointed as its Managing Director, and President of the Bosch Group in India with effect from July 1, 2023. He will succeed Soumitra Bhattacharya who will be retiring from Bosch India effective June 30, 2023, after 28 years of service in various capacities, the company said in a regulatory filing. Further, Bosch said from July 1, 2023, Sandeep Nelamangala, currently, Executive Director at Bosch Ltd and Executive Vice-President, Mobility Solutions at Bosch India, will be appointed as Joint Managing Director of Bosch Ltd. Mudlapur will be responsible for the strategic growth and overall performance of the business in the region. At the same time, he will continue to be chief technology officer for Bosch Ltd, it added. He has more than 15 years of experience in the Bosch Group and has held various positions in engineering and business management. Most recently, he was joint managing ...

Amid rise in production cost, Hero MotoCorp to hike prices by up to 2%

Hero MotoCorp on Wednesday said it will increase prices of its model range by around 2 per cent from next month in order to offset the impact of rise in production cost in order to conform to stricter emission norms. The company will make an upward revision in the ex-showroom prices of its select motorcycles and scooters, effective from April 1, 2023, the country's leading two-wheeler maker said in a statement. The price revision will be around 2 per cent and the exact quantum of increase will vary by specific models and markets, it added. The price revision has been necessitated mainly due to cost increases on account of OBD 2 (on-board diagnostics) transition, the company said. Hero MotoCorp will continue to provide innovative financing solutions in order to cushion the impact on the customers, it added. The Indian automobile industry is currently working to make their products meet the second phase of BSVI. From April 1, vehicles will need to have an on-board self-diagnostic d

Escorts, Bajaj-Auto: Trading strategies for auto stocks post Feb sales nos

Auto index trades with a sluggish bias, may lose grip if falls below its 200-DMA