Page 5 - Automakers

Registration tax waiver on hybrid cars to remain: UP govt to auto companies

The state govt has announced full waiver of registration fee for strong hybrids to boost use of eco-friendly cars

Honda posts 23% Q1 profit jump, aided by sales of hybrid vehicle

The company maintained its full-year operating profit forecast of 1.42 trillion yen, while slashing its sales outlook for China by 220,000 vehicles for that period

Rural two-wheeler demand roars back to life in first half of 2024

Favourable monsoon, govt initiatives may sustain the trend, say experts

Indian auto component industry growth to moderate in FY25, says ICRA

ICRA also expects the industry to invest Rs 20,000-25,000 crore in FY2025 for capacity expansion and technological advancements

Japan auto safety test scandal widens, Toyota halts some shipments

The ministry ordered Toyota, Mazda and Yamaha to suspend shipments of some vehicles. It said it will conduct an on-site inspection at Toyota's central Aichi prefecture headquarters on Tuesday

M&M May wholesales surge 17% to 71,682 units, exports increase 2%

Mahindra & Mahindra on Saturday said its total wholesales increased 17 per cent year-on-year to 71,682 units in May. The company's total dispatches to its dealers stood at 61,415 units in May 2023. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose 31 per cent to 43,218 units last month against 32,886 units in May 2023, it said in a statement. Exports rose 2 per cent year-on-year to 2,671 units last month from 2,616 units in May 2023. Mahindra's Farm Equipment Sector (FES) reported 9 per cent increase in total tractor sales at 37,109 units as against 34,126 units for the same period last year. "Coupled with timely arrival of southwest monsoon in Kerala and northeast states and forecast of an above normal monsoon has improved the on-ground sentiments of farmers," Mahindra & Mahindra President, Farm Equipment Sector Hemant Sikka said. Land preparation activities for Kharif crops are expected to begin on time, which is likely to boost tractor ...

Car dealers may be staring at inventory stockpile exceeding 400,000 units

Automobile manufacturers said a record inventory of 400,000 vehicles valued at Rs 44,000 crore can be expected by the end of May due to less demand

Automakers Toyota, Subaru, and Mazda commit to developing new engines

The announcement is the latest example that showcases Toyota's close ties with Subaru and Mazda

Sundram Fasteners Q4 results: Net profit surges to Rs 134.41 crore

Auto component maker Sundram Fasteners Ltd has reported its highest ever consolidated net profit for the March 2024 quarter at Rs 134.41 crore on account of strong operational performance. The Chennai-based company had registered consolidated net profit of Rs 127.47 crore, during the corresponding quarter of last year. For the year ending March 31, 2024 the net profit surged to Rs 525.64 crore, as compared to Rs 500.35 crore registered a year ago. Total revenue during the quarter under review grew to Rs 1,477.70 crore, as compared to Rs 1,451.46 crore registered in the same period of last year. For the year ending March 31, 2024, the consolidated revenues remained flat at Rs 5,720.47 crore as against Rs 5,707.60 crore registered in the same period of last year. In a statement on Friday, the company said it reported highest ever profit after tax, EBITDA for the financial year ending March 31, 2024. The Earnings Before Interest, Depreciation and taxes for the year ending March 31, 202

Centre's new electric vehicle policy to be open to all companies

The policy primarily aimed to boost EV manufacturing in the country by top global players such as Tesla, VinFast, BYD among others

M&M Q4 Preview: Profit may decline despite up to 8% rise in revenue

The automaker may register 4-6 per cent decline Y-o-Y in its adjusted profits, falling in the range of Rs 1,808 crore to Rs 1,980 crore, according to brokerage estimates

Honda Motors sees full-year profit rising 2.8%, after it exceeded estimates

Japan's second-largest automaker by volume forecast full-year operating profit would rise to 1.42 trillion yen compared with an average profit estimate of 1.39 trillion yen

Huawei's new mobile carries latest version of advanced made-in-China chip

Huawei has enjoyed a resurgence since Mate's August debut, riding a wave of celebration around its ability to realize sophisticated semiconductor manufacturing despite escalating US tech export curbs

General Motors beats quarterly results targets, raises annual forecast

"Our consumer has been remarkably resilient in this period of higher interest rates," GM Chief Financial Officer Paul Jacobson said

Renault Q1 sales lifted by financing arm, 2024 profit rises 2% at $12.5 bn

The Renault group sold 549,099 units during the first quarter, up 2.6% from the same period in 2023

Automakers from GM to Volvo eye cuts as 2-way EV charging becomes real

For many years V2G remained largely theoretical, as the Nissan Leaf was the sole EV capable of it

Mobileye set to ship at least 46 million new assisted driving chips

In an effort to differentiate themselves amid rising competition, automakers have been adding an array of more basic driver-assistance features

German premium car manufacturers struggle to revive demand in China

Carmakers are facing a challenging year, forecasting stable or lower returns and slower sales growth as they invest in revamping their line-ups to tackle growing competition

Safety issue: Toyota to oversee model certification at subsidiary Daihatsu

Japanese automaker Toyota will oversee model certification at its subsidiary Daihatsu to regain trust among dealers, customers and workers after a safety testing scandal, Daihatsu's new president said Monday. Toyota Motor Corp. will take a leadership role in various areas, including product development and procurement, said Masahiro Inoue, who took the helm of Daihatsu in March. I have been spending each and every day, vowing to revive Daihatsu, said Inoue, who previously oversaw Toyota's business in South America. His predecessor at Daihatsu resigned after the allegations of widespread cheating on safety testing surfaced last year. A third-party review found violations, such as testing just one side of a car instead of both, had persisted for decades. Production at Daihatsu Motor Co was halted by a government order until proper tests can be done and a system set up to prevent a recurrence. Only some production has since resumed. Daihatsu is known for smaller kei" cars and off-road

Toyota Kirloskar looks to introduce more premium models in India: Official

Toyota Kirloskar Motor is looking to drive in more premium models in the country with customers gradually moving towards bigger-sized vehicles in the market, according to a senior company executive. The company, which sells models like Innova and Fortuner, on Wednesday expanded its range in the country with the introduction of entry-level SUV Urban Cruiser Taisor. In an interaction with PTI, Toyota Kirloskar Motor Deputy Managing Director Tadashi Asazuma (Sales and Marketing) said the company aims to cater to the diverse customer requirements in the market. He noted that the company also plans to have models with diverse powertrains, including hybrid and battery electric vehicles in its portfolio in the country. Asazuma said customers are shifting from small cars to bigger cars gradually and that is one reason the company is even expanding its production capacity with a new manufacturing plant to offer new models. When asked if the company would look at bringing in more premium ca