Page 32 - Auto Sector

Wait for car models gets longer as chip shortage deepens in industry

Car dealers are losing 20 per cent of their monthly sales as models can't be supplied on time, says industry association.

Nissan India to increase vehicle prices for all models from April

The price hike is effective from April 1

Scrappage policy to give fillip to automobile industry volumes: ICRA

Vehicle Scrappage policy will provide a fillip to automotive industry volumes and spur demand for new vehicles, rating agency ICRA said

Auto giant Tata Motors forays into company and economy ambulance segment

Tata Motors on Friday said it has launched a patient transport ambulance, designed specifically for healthcare mobility in the economy ambulance segment. The Magic Express ambulance is designed to support medical and health related services, which assumes significance especially during the COVID-19 pandemic, Tata Motors said in a statement. The compact dimensions of the vehicle enables easy manoeuvrability on Indian roads, resulting in speedy movement of patients requiring emergency care, thereby saving lives, it added. With the introduction of the Magic Express Ambulance, Tata Motors fulfils its commitment to provide the best healthcare mobility solutions. The company has been working closely with the medical fraternity to understand the requirements, and we have tailor-made a vehicle that perfectly ticks all the boxes when it comes to patient transportation," Tata Motors Vice President, Product Line (SCV & PU) Vinay Pathak said. With the introduction of the new segment, the ...

Transport Ministry issues draft rules for vehicle scrapping policy

The union government proposed to offer a road-tax rebate of up to 25 per cent for personal vehicles and up to 15 per cent for commercial vehicles

Shuchi partners with HPCL to set up EV charging points across fuel pumps

Shuchi Anant Virya on Wednesday announced its partnership with Hindustan Petroleum Corporation Limited (HPCL)

Volkswagen looks to electric vehicles, cost cuts for profit recovery

Preferred shares in the company rose as much as 5% to their highest level since July 16, 2015

Billionaire Elon Musk is now 'Technoking' of Tesla, new filing shows

Musk has reportedly changed his official title at Tesla to 'Technoking', according to a new filing issued to the US SEC

Royal Enfield aims to become a $5 billion global company: Report

Royal Enfield is targeting a 10 per cent market share in mid-size bikes in the export market

Ind-Ra revises outlook of auto sector to improving for FY22 from negative

The rating agency said it expects auto volumes to rebound at 16-20 per cent year-on-year (y-o-y) in 2021-22 after recording an estimated decline of 14-18 per cent YoY in financial year 2021

Posco's steel plant in India faces disruption, hampers auto supply chain

Supply of steel from Posco's Maharashtra plant has been seriously affected and production for carmakers "is likely to come to a standstill"

Tata Motors expects its CV sales to grow by over 36-38% in FY22

New launches, economic recovery and government spending on infrastructure to drive growth, says Girish Wagh

Passenger vehicles likely to see higher revenue growth next fiscal: Report

Passenger vehicles and two-wheeler dealers in the country are expected to see higher revenue growth and profitability in the next fiscal, the report said

Car sales rise but 2-wheelers drag sector into the red: FADA data

According to FADA data, two-wheeler numbers dropped 16% in February, while passenger vehicles' grew 10.5%

Junk your old car and get 5% rebate from automakers on new buy: Gadkari

There is good news for consumers who are going to junk their old vehicles

EV rollout will require huge investments in strained US power grids

Extreme weather events add additional layers of difficulty

Gadkari asks automakers to build indigenous flex engine vehicles

Gadkari on Tuesday asked automakers to build flex-engine vehicles for using alternative fuel

Tough eligibility may limit benefits to large cos under PLI for auto sector

The government will soon come out with detailed scheme to offer production linked incentive (PLI) to automobile and auto components industry

Mahindra total sales dip over 11% in February to under 29,000 units

Mahindra & Mahindra (M&M) on Monday reported an 11.38 per cent decline in total sales at 28,777 units in February. The company had sold 32,476 units in February 2020, M&M said in a statement. Passenger vehicles sales increased by 41 per cent to 15,391 units last month, as compared with 10,938 units in the year-ago period. In the commercial vehicles segment, the company sold 11,559 vehicles in the domestic market last month, as against 19,699 units in February 2020, a drop of 70.42 per cent. Exports declined by 1 per cent to 1,827 units last month, as against 1,839 units in the year-ago month. "Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3 to 4 months," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Going forward, the company will continue to monitor the situation and closely work

Tata Motors total sales surge 51% at 61,365 units in February

The auto major reported a 21 per cent increase in total commercial vehicle sales