Page 28 - Auto Sector

Tesla Cyberquad will be the safest ATV in world, says CEO Musk

Musk commented on the Tesla Cyberquad for the first time at Tesla's shareholder's meeting

Govt to aim for 30% EV sales penetration for private cars by 2030: Gadkari

To fulfill everyday transport needs of a large population, he said his ministry is focusing on the development of efficient and affordable public transport systems

Honda rolls out festive offers ranging up to Rs 53,500 on its model line-up

Honda Cars India on Wednesday said it has rolled out festive offers, ranging up to Rs 53,500, on its entire model line-up till the end of this month. With the onset of the auspicious period of 'Navratri, customers can avail a host of attractive offers while purchasing Honda cars across all authorised company dealerships till October 31, 2021. The special offers for customers will be in the form of cash discounts, accessories, loyalty bonus and special exchange benefits, the automaker said in a statement. The company is offering festive offers worth Rs 53,500 on the 5th Generation City, up to Rs 22,000 on 4th Generation City, up to Rs 18,000 on Amaze, up to Rs 40,100 on WR-V and up to Rs 45,900 on Jazz, it added. "Festivals give us a reason to celebrate and always have a special place in our lives. This festive season we are delighted to provide exciting offers and promotions for our entire Honda product line to make car purchase more rewarding bringing the much-needed joy during th

Zoomcar sets up office in San Francisco ahead of US listing next year

Car sharing marketplace Zoomcar on Tuesday said it has opened an office in San Francisco ahead of its US listing next year. The new office in the US will further bolster Zoomcar's push to create a global car-sharing platform and prepare the company for its broader global marketplace, a statement said. "Recently appointed CFO Geiv Dubash based in San Francisco will be instrumental in helping Zoomcar with future capital markets transactions, including potential listing in public markets," it added. Zoomcar has expanded to Southeast Asia and the Middle East. Last month, Zoomcar had announced the launch of its operations in Indonesia and Vietnam. At Zoomcar, we're focused on becoming a public company in the next 12 months. As we continuously evaluate the best possible alternatives for a public listing, our new office in San Francisco will help the company for this next phase of growth as we expand the platform and brand globally," Zoomcar CEO and co-founder Greg Moran said. He added t

Mahindra reports 7% decline in September tractor sales

Mahindra & Mahindra Ltd on Friday reported a 7 per cent year-on-year decline in tractor sales to 40,331 units in September. The tractor manufacturer had sold a total of 43,386 units for the same period last year, a release said. The domestic sales in the previous month declined 8 per cent to 39,053 units, as against 42,361 units a year ago, Mahindra said. Exports in September, however, rose 25 per cent to 1,278 units as compared to 1,025 units in the same period last year. With initial crop production estimates indicating highest ever Kharif Crop, coupled with the upcoming festive season, we are optimistic of strong demand in the coming months. In the exports market, we have sold 1,278 tractors with a growth of 25 per cent over last year, said Hemant Sikka, President for Farm Equipment Sector at M&M Ltd. Strong revival in rainfall during September brought cheers to the farming community, with the entire rainfall deficit wiped off by September-end and monsoon achieving normal ..

TVS Motor reports 6% increase in sales for September

Total exports last month grew by 20 per cent at 1,02,259 units, against 85,163 units in September 2020.

A hot hatch, Hyundai i20 N Line could challenge Polo GT's dominance

The i20 N Line could challenge Polo GT's dominance in the segment

Ola Electric raises over $200 mn funding, valuation touches $3 bn

The funding for the EV maker was led by Falcon Edge, SoftBank and others

Auto shares trade mixed ahead of Sept sales data; here's what to expect

According to analysts at Emkay Global, commercial vehicles (CVs) should maintain positive momentum in September while passenger vehicles (PVs) volumes are likely to be hit by the chip shortages

Toyota Kirloskar Motor to raise vehicle prices from October

According to the auto manufacturer, the hike has been necessitated to partially offset the increase in input costs

PLI Scheme for auto sector to promote electric vehicles needs a relook

The government's PLI scheme for automobile makers might leave the electric two-wheeler industry, which has seen a lot of action recently, out in the cold. Let's delve into the details of the matter

World's highest EV charging station installed at Himachal's Spiti Valley

Pune-based EV charging infra startup goEgoNetwork has installed its electric vehicle charging facility at Kaza in the Spiti Valley, Himachal Pradesh

Ford India coercing dealers to sign non-disclosure agreement: Fada

Urges govt to set up task force to monitor compensation structure being worked out by Ford India for its dealer partners across the country

Restructuring plan: Ford India talks up compensation with dealer partners

As part of the restructuring plan, Ford will cease production of cars and sport utility vehicles at its plants and will sell vehicles only till stocks last

Hero Electric to raise capacity at Ludhiana plant to 500k units in 6 months

The company noted that it has been witnessing a robust demand after the COVID situation improved in the country.

Credit rating agency India Ratings downgrades Ford India's ratings

Credit rating agency India Ratings and Research, downgraded Ford India Private Ltd's long term issuer rating to 'IND A+' from 'IND AA-'.

India auto sector attractive for investing: Arun Goel on Ford plant closure

The Secretary, Ministry of Heavy Industries, said the country has seen investments of $34.5 billion in the past five years, to substantiate his point

VE Commercial Vehicles plans to tap auto PLI via electric vehicle route

Last week, the government had cleared the PLI scheme for the auto industry with an outlay of Rs 25,938 crore, slashed from the initial outlay of Rs 57,042 crore

Pure-play electric two-wheeler firms may fail to ride auto PLI scheme

Unsurprisingly, the maximum investment has gone into creating capacities for electric two-wheelers, followed by the rest

Another industrial policy misstep

PLI for auto sector goes in the wrong direction