Page 19 - Automakers

Automakers witness sales recovery in June as pandemic eases across states

The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May.

TVS Motor reports 51% jump in June sales to over 250,000 units

Total exports last month stood at 1,06,246 units as compared to 1,14,674 units in May.

Mahindra & Mahindra Ltd reports total tractor sales of 48,222 units in June

Mahindra & Mahindra Ltd on Thursday reported total tractor sales of 48,222 units in June, recovering from the disruptions induced by the second wave of the coronavirus pandemic. The company had sold a total of 36,544 tractors in June 2020, when sales were impacted by the nationwide lockdown imposed to curb the spread of the coronavirus pandemic although easing of restrictions had started by then. It had sold 24,184 units in May 2021, during the peak of the second wave of the pandemic. Domestic sales last month were at 46,875 units. It was at 35,844 units in June 2020, M&M said in a statement. Exports in June stood at 1,347 units. The company had exported 700 units in the same month last year. Commenting on the performance, Mahindra & Mahindra Ltd. President - Farm Equipment Sector Hemant Sikka said, "the sharp fall in COVID-19 cases and resultant easing of related restrictions, arrival of timely monsoon, increase in MSP rates for key kharif crops and continued strong ...

Ashok Leyland total dispatches in June increase to 6,448 units

Hinduja Group flagship firm Ashok Leyland on Thursday posted two-fold increase in total sales at 6,448 units as compared with 3,199 units in May this year. Total domestic vehicle dispatches to dealerships stood at 5,851 units last month as against 2,738 units in May, Ashok Leyland said in a regulatory filing. Medium and heavy commercial vehicles (M&HCV) sales in the domestic market stood at 2,364 units in June as against 1,513 units last month, it added. Light commercial vehicle sales in the domestic market last month stood at 3,487 units as compared with 1,225 units in May.

Nissan bets on UK 'renaissance' with battery plant and new vehicle

Facing the most profound technological shift in a century, the titans of the auto industry are racing to secure battery supply close to the factories where they will make the new cleaner electric vehi

Hyundai India total dispatches increase to 54,474 units in June

Hyundai Motor India Ltd (HMIL) on Thursday reported total sales of 54,474 units in June, up 77 per cent from 30,703 units in May, recovering from disruptions induced by the second wave of COVID-19. The automaker's domestic dispatches to its dealerships stood at 40,496 units last month, as compared to 25,001 units in May this year, the automaker said in a statement. Exports rose to 13,978 units in June, as against 5,702 units in May, it added. "With markets opening up and improvement in customer sentiments, the company is committed to deliver innovative and world class quality products and services meeting and exceeding customers aspirations," HMIL Director (Sales, Marketing & Service) Tarun Garg noted. The newly launched model Alcazar, has been receiving tremendous customer response setting some new benchmarks in the industry, he added.

ICRA expects 12-14 pc growth for two-wheeler sales this fiscal

Ratings agency ICRA on Thursday maintained its growth forecast for two-wheeler sales at 12-14 per cent for the ongoing fiscal

Tata Motors dispatches in domestic market rise to 43,704 units in June

Domestic sales increased by 78 cent from the prior month

Maruti Suzuki posts 3-fold rise in total sales at 147,368 units in June

Sales of mini cars, comprising Alto and S-Presso, rose to 17,439 units in June as against 4,760 units in May this year.

Shares of Bajaj Auto gain nearly 3% after big jump in June sales

Shares of Bajaj Auto on Thursday gained nearly 3 per cent after the company reported 24 per jump in its total sales in June 2021. The stock jumped 2.82 per cent to Rs 4,250 on BSE. On NSE, it gained 2.80 per cent to Rs 4,250. Bajaj Auto on Thursday reported 24 per jump in its total sales at 3,46,136 units in June 2021. The company had sold 2,78,097 units in the same month a year ago. Domestic sales in June this year were at 1,61,836 units as against 1,51,189 units, up 7 per cent, Bajaj Auto said in a regulatory filing. Total motorcycle sales stood at 3,10,578 units, an increase of 22 per cent, as compared to 2,55,122 units sold in June last year.

BMW boosts corporate venture investment pool to $900 million

BMW i Ventures, based in Mountain View, California, will manage the fund

French automaker Renault raises targets for share of electric vehicles

Renault Chief Executive Luca de Meo said Renault planned 10 new electric models by 2025

Motown gears up for fast-lane drive as second wave of Covid-19 abates

India Inc faltered in Q1 of this financial year due to the second wave of the pandemic. What do the prospects for Q2 look like? The first of a four-part series looks at the automobile industry

Nissan Motor CEO says performance for April, May better than expected

Nissan Motor Co's financial performance in April and May was better than expected, the automaker's president said at the annual general meeting (AGM) on Tuesday

Automakers initiate production ramp-up with easing of Covid restrictions

According to SIAM data, overall vehicle production in May declined by 57 per cent to 8,06,755 units

Maruti cuts Eeco ambulance price by Rs 88k as govt reduces GST

The GST rate on Eeco ambulance has come down to 12 per cent from the earlier rate of 28 per cent.

Amid Covid, foreign carmakers in India face tough investment choices

Premium carmakers hit hardest by pandemic in India; Higher taxes, export uncertainty add to challenges

Automaker Kia to expand sales of electric vehicles in Europe with Uber

Kia is planning to strengthen the partnership by offering electric cars to Uber drivers in 20 Europe countries.

Spain hopes to jumpstart electric car industry with European Union funds

Spain produced 2.2 million cars and trucks in 2020, second only to Germany in Europe. But only 140,000 of these were electric or hybrids

Hyundai to halt US plant for three weeks on chip shortage, maintenance

Hyundai Motor, South Korea's biggest carmaker by sales, said on Monday it will suspend its US plant for three weeks due to lack of semiconductors and routine maintenance