Page 9 - Automakers

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

With 75 new models on display, Auto Expo to attract 1,00,000 visitors today

People are curious to see the vehicles of future and also want to know which vehicles they will be able to use in the coming future, which have state-of-the-art facilities

Puri asks automakers to start introducing green vehicles in market

Puri said India is a place where it's not just economies of scale but where "when we do something hundreds and thousands of people will follow"

Auto Expo 2023 | Lexus LF-30 with 110-kWh battery pack unveiled

#AutoExpo2023 #Electriccars #autoexpo At the Auto Expo 2023, Lexus India showcased the LF-30 Concept car.

India's Mahindra named fastest-growing brand in South Africa for 2022

The Indian auto manufacturer Mahindra has been named the fastest-growing brand in South Africa for the year 2022 as the company's local subsidiary set several records in the last year, according to a report by the National Association of Automobile Manufacturers of South Africa (NAAMSA). The report said that 'Mahindra SA' increased its sales volume by a massive 78 per cent compared to 2021, the highest of all the vehicle brands that report their sales to NAAMSA and more than five times the market average. The sales report further shows that Mahindra grew its total sales in the passenger vehicle market by 80 per cent to 4 027 vehicles in 2022 and its light commercial sales (that of its popular Pik Up and Bolero ranges) by 77 per cent to 8,885 vehicles. The company hit an average monthly sales figure in excess of 1,000 units per month, breaking through the magical 10,000 unit per annum mark for the first time and reaching close to 14,000 total sales for the year, it said. This is al