Page 8 - Automakers

Looking to double turnover to Rs 1.68 trn by 2030-31: Maruti Suzuki CEO

Maruti Suzuki India is looking to double its turnover to around Rs 1.68 lakh crore by 2030-31 from FY22 level in line with parent Suzuki Motor Corporation's global growth strategy, company Managing Director and CEO Hisashi Takeuchi said on Wednesday. The company expects India to "play a very big role" in Suzuki Motor Corporation's goal to achieve a global turnover of Rs 4.32 lakh crore in FY30-31, which would be exactly double the turnover of Rs 2.16 lakh crore achieved in FY21-22, he said. "Yes, of course" because we would like to make our volume double the size, Takeuchi said when asked if Maruti Suzuki India was also looking to double its turnover like its parent Suzuki. He said, "We will invest for production facility, we will invest for human resources so that we will be able to handle such a big volume by 2030. So that is our plan." Maruti Suzuki India had clocked net sales of Rs 83,798 crore in 2021-22. Takeuchi was speaking at the sidelines of the company's launch of premiu

Domestic automakers accelerate employment of women in shop floors

Homegrown automakers Tata Motors, Mahindra & Mahindra, Ashok Leyland and Hero MotoCorp are accelerating the drive to employ more women in shop floors as they press hard on the pedal to enhance diversity. Once outsiders but no longer, thousands of women are now rolling out from two-wheelers to popular SUVs and heavy commercial vehicles across different factories of these companies. Tata Motors has over 4,500 women working in the shop floors across six manufacturing plants, including an all-women line at its Pune facility with over 1,500 of them producing popular SUVs such as Harrier and Safari. "We are an equal opportunity employer and believe a gender-balanced workforce leads to increased productivity, better decisions, enhanced collaboration, and more innovative ideas. Our focus is on enhancing diversity, especially on the shop floor and 25 per cent of all our new recruits are women," Tata Motors Chief Human Resources Officer (CHRO) Ravindra Kumar GP told PTI. He further said, ...

Maruti Suzuki reports 2% rise in retail sales at 159,418 units in June

The country's largest carmaker Maruti Suzuki India (MSI) on Saturday reported 2 per cent increase in total wholesales at 1,59,418 units in June. The company had dispatched 1,55,857 units to dealers in June 2022, MSI said in a statement. Last month, the company's domestic passenger vehicle sales rose 8 per cent to 1,33,027 units as against 1,22,685 units in the year-ago period, it added. Sales of mini cars, comprising Alto and S-Presso, fell marginally to 14,054 units as compared with 14,442 units in the same month last year. Similarly, sales in the compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, slumped 17 per cent to 64,471 units as against 77,746 cars in June 2022. Sales of mid-sized sedan Ciaz increased to 1,744 units as compared with 1,507 units in June last year. Utility vehicle sales, including Brezza, Grand Vitara and Ertiga, surged over two-fold to 43,404 units as compared with 18,860 vehicles in the year-ago month, MSI said. Exports dec

Hyundai Motor reports 5% rise in retail sales at 65,601 units in June

Hyundai Motor India Ltd (HMIL) on Saturday said its total wholesales increased 5 per cent to 65,601 units in June 2023. The automaker had dispatched a total of 62,351 units to dealers in June 2022. Domestic sales rose 2 per cent to 50,001 units last month from 49,001 units in the year-ago period, the company said in a statement. Exports in June rose 17 per cent to 15,600 units as compared with 13,350 units in the same month last year, it added. "There is a positive customer traction for all our products and Verna, Creta, and Tucson have attained leadership positions in their respective segments in the first half of CY23," HMIL COO Tarun Garg noted. The company is now looking forward to introducing Exter SUV in the market, he added.

Toyota Kirloskar reports 19% rise in retail sales at 19,608 units in June

Toyota Kirloskar Motor (TKM) on Saturday said its wholesales increased 19 per cent to 19,608 units in June as compared with 16,512 units in the year ago period. Domestic dispatches stood at 18,237 units while overseas shipments rose to 1,371 units last month. "Ever since the launch of Urban Cruiser Hyryder and Innova Hycross, we are witnessing continued high acceptance by our customers," TKM Vice President (Sales and Strategic Marketing) Atul Sood said in a statement. These along with a consistent performance by the entire product portfolio Camry Hybrid, Fortuner, Legender, Vellfire, Glanza and the newly introduced Hilux, are enabling the company to sustain the positive performance, he added. The commencement of three shift operations at the manufacturing plant has played a vital role in enhancing operational capabilities and addressing the growing demand for the products, Sood noted.

MG Motor India reports 14% increase in retail sales at 5,125 units in June

MG Motor India on Saturday reported 14 per cent increase in retail sales at 5,125 units in June 2023 as compared to the same month last year. The company had posted a retail sales of 4,504 units in June 2022, MG Motor India said in a statement. "Supplies were disrupted in the wake of cyclone Biparjoy though customer demand should now gain momentum following the monsoon as India gears up for a long festive season," it said. In the second quarter (April-June) of 2023 , the company said its sales were at 14,682 units as against 10,519 units in the year-ago period, a growth of 40 per cent.

Ford to cut hundreds of US salaried workers to boost profit, lower costs

The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial vehicles, said T.R. Reid, a company spokesman

Carlos Ghosn sues Nissan, connected individuals over his 2018 ouster

The arrest of Ghosn, 69, sent shockwaves through the global auto industry and unleashed turmoil within Nissan that continues to this day

Automakers to invest $10 billion for enhancing EV manufacturing capacity

The capital expenditure will be allocated towards building green-field plants for EVs, better research and investment in battery plants, and support for grid charging infrastructure

Maruti Suzuki to invest $5.5 bn by 2030 to double its capacity in India

It will invest Rs 45,000 crore to start eight assembly lines with an annual production capacity of 250,000 units each across two new facilities

Automakers to launch six new SUVs in India in next two years: Report

SUV market share in India is expected to rise from its current 43% by the end of 2024-2025 to 48%, industry estimates said

General Motors' 5,000 salaried workers take buyouts to leave company

GM will take a $1 billion charge in the first quarter, he said. The company had previously projected $1.5 billion in charges related to staff reductions

Semiconductor chip shortage may derail automakers FY24 production plans

Growth in sales and production in FY23 had come with some easing in the chip-supply situation and pent-up demand

Automaker SML Isuzu to raise prices to offset higher input costs

Chandigarh-based SML Isuzu also said its costs were rising due to fitting its buses with electronic stability control technology, which helps prevent losing control of a vehicle

Here's why turmoil in China's mega EV industry may spark a shake-up

The boost part, though, is looking a bit tenuous for both established and EV firms

Steelmakers press for higher auto contract prices after three quarters

Spot steel prices have been rising both globally and at home since December; a hike of over 12% in the domestic market would have been the basis of negotiations for the upcoming contracts

Nissan to develop new powertrains, may cut cost of hybrid cars by 30%

By enhancing the common parts that underpin a vehicle, the Yokohama-based automaker expects to be able to lower the cost of its hybrid cars to the same level as gasoline-powered cars by 2026

Kia India YoY sales increases by 36% in February at 24,600 units

Automaker Kia India on Wednesday reported a 36 per cent year-on-year increase in domestic wholesales at 24,600 units in February. The company had sold 18,121 units in the year-ago period. "With continued support from our esteemed customers, Kia has recorded another successful sales run in the month of February," Kia India National Head Sales & Marketing Hardeep Singh Brar said in a statement. Achieving 35.8 per cent growth against the industry's growth of 10 per cent shows the love and confidence the Indian consumers have for the brand, he added.

BMW increasing focus on India, sees growth potential amid low penetration

German luxury carmaker BMW is increasing its focus on India, buoyed by the best-ever annual sales in 2022 as it sees huge growth potential for market leadership here given the low penetration. Driven by the highest ever number of launches (26 ), and pent-up demand arising from the pandemic-induced lockdowns, BMW India sold 35 per cent more cars (BMWs and Minis combined) in 2022 at 11,981 units (of which 11,268 were BMWs), making it the highest ever deliveries in its history since its entry in 2007. Its two-wheeler brand Motorrad also had its best-ever sales delivering 7,282 units, a full 40 per cent growth on-year. Though India is likely to overtake Japan to become the third largest auto market in the world after China and the US in 2022 selling more than 4.25 million units, there is nothing to write home about the luxury segment which is just about 1 per cent. Of this, the car volume stood at 3.8 million in 2022, excluding the units sold by luxury carmakers Mercedes, BMW and Volvo,

South Korean electric vehicle battery players eye global top spot

The 6.28 million-square-meter construction site, unveiled to South Korean media on Jan. 8, is where South Korean battery producer SK On Co. and Ford Motor Co. are building EV battery plants