Page 23 - Auto Sector

Gujarat attracting big investments since automobile sector took off in 2009

Gujarat's automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks to position itself as a leading electric vehicles (EV) manufacturing hub. To this effect, it signed an MoU with the Tata Group worth Rs 13,000 crore in June this year. The 10th edition of the Vibrant Gujarat Global Summit will be held from Jan 10 to 12, 2024 in Gandhinagar. The biennial summit serves as a platform for businesses and governments to explore investment opportunities and establish partnerships. Experts believe that future-ready infrastructure such as the Dholera Special Investment Region and the Delhi-Mumbai industrial corridor are bound to change the state's outlook in the auto sector. Ratan Tata, former chairperson of the Ta

The new @UTO Motto: Why makers of 2-wheelers, cars are embracing ecommerce

Dealerships remain the primary point of sale, but this is a fast-evolving scenario, catalysed by both Amazon as well as Flipkart introducing the auto category last year

Luxury carmaker Lamborghini's Revuelto sold out in India, globally for 2026

The strong demand for Revuelto is being driven by a growing number of new customers, including a 20 per cent increase in first-time buyers in India

Higher production, festival season drive domestic car sales in November

Companies like MSIL and Tata Motors have announced price increases from January 1

Hinduja's Ashok Leyland witnesses 3% decline in total sales in November

Hinduja Group flagship company Ashok Leyland has witnessed a 3 per cent decline in its sales in domestic and overseas markets by selling 14,053 units in November, the company said on Friday. The city-based commercial vehicle maker sold 14,561 units during the corresponding month of last year. Sales of medium and heavy commercial vehicles slipped by 10 per cent in domestic and overseas registering 8,500 units in November 2023, as against 9,474 units sold in the same month of last year. However, the total number of light commercial vehicles sold in domestic and overseas grew by 9 per cent to 5,553 in November this year from 5,087 units sold in November 2022. The cumulative sales till November 2023 rose by 7 per cent, to 1,22,092 from 1,14,370 units sold in the same month of last year. The cumulative sales of medium and heavy commercial vehicles as of November grew by 8 per cent to 76,936 units as compared to 71,356 units sold in the same month of last year. Light commercial vehicl

Tariff tussle: UK delegation reaches out to Siam to quell FTA doubts

Holds meets with industry representatives; agreement at advanced stage

From Bajaj to TVS, two-wheeler makers hit full throttle on growth prospects

While demand woes continued to plague the export market, growth was largely on the back of domestic demand

Low-paid, migrant workers more prone to injuries in automobile sector

The report Crushed 2023 is the fifth annual study on the state of worker safety in the Indian auto sector

Carmakers shift into overdrive with extended festival season deals

An industry source added that the sector is fearing lower sales in November and December

TVS Motor Company joins hands with Emil Frey for key European markets

This partnership signifies a significant step towards global expansion for TVS Motor Company, leveraging Emil Frey's extensive distribution network and deep market insights in Europe

Lotus Cars makes India debut with Eletre electric SUV at Rs 2.55 crore

India is currently considering a proposal to lower import taxes on British luxury EVs as part of the ongoing India-UK free trade agreement discussions

Full charge ahead: Kerala becomes the new electric two-wheeler hub

Reasons include customer awareness and government incentives

Renault cuts Nissan stake to 15% from about 43%; now on equal footing

"This next chapter of the alliance will build on the foundations of the longstanding partnership and will maximise value creation for each alliance member," the statement said

Chinese auto sales surged 10% in Oct, records fastest growth since May

Sales of passenger cars rose 10.2% in October over a year earlier, an industry association said Wednesday, as makers ramped up promotions and customers opted for electric and hybrid vehicles. Sales of electric and hybrid vehicles climbed 37.5% from a year earlier, accounting for 767,000 of the 2.03 million vehicles sold in October, the China Passenger Car Association said. Exports of passenger cars jumped nearly 50% to 391,000 units in October and have risen 66% this year, to just over 3 million units. The robust improvements partly reflect slow growth a year earlier, when China was grappling with factory shutdowns and other disruptions from the COVID-19 pandemic. Demand for vehicles also tends to be stronger in September and October, which are dubbed the nine silvers and 10 golds," the report said. So far this year, auto sales in China have climbed 3.2% to just under 17.3 million units. The report said Tesla delivered 47,164 Model Y vehicles and 24,951 Model 3s made at its Shangh

Tata Motors Q2 result: Auto major reports net profit of Rs 3,764 crore

Tata Motors said it remains optimistic about its performance due to a strong product pipeline, a seasonally stronger H2 and continued focus on cash accretive growth

CarDekho's FY23 revenue rises 46% to Rs 2,331 cr, Rupyy drives growth

The company said that it has controlled the losses despite maintaining a steady growth whereby it recorded a loss of Rs 562 crore in FY23 against Rs 535 crore in FY22

Uneven monsoon's impact on rural demand a concern: ICRA on auto sector

India's domestic automobile industry is expected to record moderate growth in volumes in FY24, but a sustained recovery in demand sentiments remains to be seen, amid concerns over the impact of an uneven monsoon on rural demand, ratings agency ICRA said on Tuesday. The industry has been on a comeback trail over the past two years, aided by a recovery in economic activities and increased mobility although the pace of revival across the various automotive segments has been somewhat mixed, ICRA said in a statement. The passenger vehicle segment reached all-time high volume levels in FY23, aided by preference for personal mobility and stable semiconductor supplies and the demand sentiments are expected to remain healthy in the segment, 6-9 per cent year-on-year (YoY) growth in FY2024, it added. Similarly, the commercial vehicle industry's overall industry volumes are expected to approach pre-pandemic highs, even as the growth is expected to remain at modest levels in FY24, 2-4 per cent

Record sales drive up Maruti Suzuki India profit 78% to all-time high

India's largest carmaker reported a 6.3 per cent year-on-year (Y-o-Y) increase in domestic passenger vehicle (PV) sales, at 482,731 units, in Q2 of FY24

Hybrid vehicles take lead in realm of eco-friendly mobility solutions

Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in CY22 to 7.2 per cent this year

Chip supplies reallocating from computers, mobiles to automobiles: CRISIL

It added that the chip shortage is easing but the demand-supply dynamics are expected to be more balanced by 2025-26