Page 7 - Automakers

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

China's SAIC Motor aims to slash jobs at GM, VW ventures, and EV unit

The state-owned automaker hopes to cut 30 per cent of employees at SAIC-GM, 10 per cent at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said

Manufacturers of electric vehicles lukewarm to new subsidy scheme

Short duration, stricter compliance pushes EV makers to consider selling vehicles sans subsidy

End of the road for FAME-II scheme for EVs drives up e2W, e3W demand

FAME-II scheme for electric vehicles to end on March 31

Ashok Leyland clocks three million vehicles production milestone

Ashok Leyland has been a driving force in the Indian and international commercial vehicle sector with technology at the forefront

Renault India partners BLS E-Services for enhancing sales in rural market

Automaker Renault India on Tuesday said it has partnered with technology-enabled digital service provider BLS E-Services to enhance availability and accessibility of its vehicles in rural India. The two partners have signed a memorandum of understanding (MoU) for enhancing the reach of Renault's 2024 range of Kwid, Triber and Kiger in the rural market, the company said in a statement. Under the collaboration, Renault India will leverage BLS E-Services' widespread network of approximately 1 lakh touchpoints, along with 1,016 digital stores to drive awareness and facilitate sales of Renault cars in rural and semi-urban regions across the country, it added. "Rural India holds great potential for us, and through our collaboration with BLS E-Services, we aspire to deepen our presence in these markets by introducing our made-in-India, made for the world cars that are designed to cater the unique preferences of our customers," Renault India Vice President of Sales and Marketing Sudhir ...

Mahindra & Mahindra's Q3 result: Profits up 60%, miss expectatios

The 'Scorpio' SUV-maker's standalone profit after tax rose 60.6 per cent to Rs 2,454 cr ($295 million) in the three months to Dec. 31, missing analysts' estimate of Rs 2,512 cr, per LSEG data

Force Motors plans to invest around Rs 2,000 cr in 3-4 years: MD Firodia

Automaker Force Motors plans to invest around Rs 2,000 crore in the next three to four years on various activities including sustainability drive and electric vehicle development, according to the company's Managing Director Prasan Firodia. The company, which sells a range of commercial and utility vehicles, is looking to bring electric versions of its vans' ranges step by step going forward. "At a company level we are looking at about Rs 2,000 crore investment over the next three to four years," Firodia told PTI in an interview. He was responding to a query on the company's overall investment plans. "The investment will be across conventional engines, EVs, upgrading further engineering facilities, creating a more sustainable environment. It is across the board and across the value chain," Firodia added. The company, which showcased its Traveller Electric, Urbania Diesel, and Traveller CNG at the Bharat Mobility Global Expo, has embarked on an electrification drive, although it wi

Ford reduces production of F-150 Lightning pickup truck as EV demand slows

The announcement is the latest sign of softening demand for EV trucks. General Motors in October postponed the opening of a $4 billion electric truck plant in Michigan for a year

Jaguar Land Rover reports best-ever sales at 3,582 units in Apr-Dec period

Luxury automaker Jaguar Land Rover on Thursday reported record sales at 3,582 units for nine months ended December 31, 2023. The company said its sales rose 93 per cent year-on-year as compared to the April-December period of the last fiscal. Range Rover and Defender continue to lead with a year-on-year (YoY) rise of 250 per cent, contributing to over 75 per cent of the current order book, the automaker said. In the October-December quarter, the company reported a 74 per cent YoY growth, achieving retail sales of 1,226 units, it added. The newly launched Range Rover Velar witnessed a YoY sales growth of 183 per cent in the quarter, JLR said. "Over the past nine months, JLR's progress in India has been characterised by consistent and substantial growth. Each quarter has shown an impressive year-on-year surge of nearly 100 per cent," JLR India Managing Director Rajan Amba said. The burgeoning order bank and continuous order intake signal a robust demand, underscoring promising futu

Automakers gear for moderate sales after 2023, ready for more EV launches

After posting record-breaking volumes in 2023, Indian automobile industry is driving into the new year aware of a lurking moderation in sales growth but ready to embrace green technologies, led by electric vehicles. Passenger vehicle sales are expected to cross 40 lakh units this year and prices are set to rise from January. Veteran industry leader and Maruti Suzuki India Chairman RC Bhargava said the sales are expected to moderate a bit next year compared to 2023. He noted that the revival of the small car segment is necessary for the faster growth of the industry. The share of entry-level cars in the passenger vehicle sales which stood at around 14 per cent in 2018-19 has reduced to around 4 per cent in the April-October period this year. "As far as Maruti Suzuki is concerned, I believe that we will have higher growth than the industry," Bhargava told PTI. While being positive on the growth of Electric Vehicle (EV) sales next year, he noted that the focus should be towards all

Nissan expands research ties in China as part of bid to regain market share

Nissan Motor Co. is expanding its research ties with a leading Chinese university as it and other foreign car companies try to claw back market share in the important Chinese market. The Japanese automaker announced Sunday that it would launch joint research next year with Tsinghua University on reaching Generation Z defined for this project as those born between 1995 and 2009 and on the social responsibility of automakers in battery recycling, charging stations and other electric vehicle-related issues. The major auto companies were caught flat-footed by a boom in electric vehicles in China that has given rise to new Chinese competitors that have gobbled up market share at home and are now moving into Southeast Asia, Europe and other overseas markets. Nissan's sales in China plunged 34% in the six months from April to September compared with a year earlier. Market conditions in China have become extremely tough, Masashi Matsuyama, the head of Nissan's Chinese investment company,

Divergent trends in consumer spending: Auto shines, FMCG stumbles on demand

The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023

Hyundai to install new plant in S Korea, to produce 200,000 EVs a year

Hyundai will invest 2 trillion won ($1.5 billion) building the plant, which will cover 548,000 square meters of land at a former motor racing circuit

Nissan, Honda get some relief as weak yen amplifies uptick in sales

It raised its full-year forecast by nearly 13% to 620 billion yen due to a favourable impact of a weak yen and improvements in global retail sales, excluding China

Toyota Kirloskar Motor reports 66% jump in sales in October to 21,879 units

Earlier this year, media reports stated that Japanese auto major Toyota is looking to set up a third manufacturing plant in India

M&M reports highest-ever SUV, commercial vehicle monthly sales in October

In the utility vehicle segment, Mahindra recorded the highest sales for the fourth consecutive month

1,200-km range, 10-min charge: Toyota near solid-state battery breakthrough

If successful, Toyota said that solid-state batteries will double the range of EVs up to 1,200 km, and the charging time will be 10 minutes or less