Page 18 - Automobile Industry

TVS Motor Q1FY25 results: PAT rises 23.5% to Rs 577 cr on strong demand

TVS Motor's earnings before interest, taxes, depreciation and amortization margin rose to 11.5 per cent from 10.6 per cent a year ago

Toyota, Maharashtra set wheels in motion for Rs 20,000 crore plant

Plan to roll out 400,000 electric, hybrid cars a year

Bajaj Auto, TVS lead the charge in electric two-wheeler sales surge

The volume push was led by Bajaj, which saw its vehicle registrations go up by a staggering 79 per cent to hit 16,269 in July over the previous month

Among top 10 most-valued auto firms globally, TaMo drives into elite club

Earlier this year, Tata Motors announced that it would form two separate companies, with one housing the commercial vehicles business and the other passenger vehicles businesses, including JLR

Try pay-as-you-drive insurance cover if driving under 10K km annually

A standard motor insurance plan has no cap on the number of kilometres (kms) a customer can drive. "In a PAYD plan, customers opt for a predefined number of kilometres

Electric 2W player Ola Electric sets IPO price band at Rs 72-76 per share

Volume growth, vertical integration would be the main pillars for improving its margins, founder and CEO Bhavish Aggarwal told reporters on Monday

India may lead global growth in light-vehicle production: S&P Global

As of 2023, India is the fourth-largest light vehicle producer with 5.4 million vehicles, upstaging Germany (4.3 million) and South Korea (4.2 million)

Bajaj Auto-powered electric mobility company Yulu eyes global ride

It plans to pedal overseas with a Bajaj product and accelerate into India's e-commerce space with a high-speed two-wheeler

Tata Motors-JLR project in Tamil Nadu to get going in two months

Over 400 acres zeroed in at Panapakkam, 90 km from Chennai

Ola Electric to launch IPO next week, valuation seen at around $4.4 billion

Ola is planning the IPO at a lower valuation to ensure higher participation from investors bidding for the IPO shares

Govt extends Electric Mobility scheme, increases outlay to Rs 778 crore

The scheme was launched by the Ministry of Heavy Industries in March this year and aims to boost the adoption of electric vehicles (EVs) across the country

Nissan's profits wiped out by deep US discounts; shares plunge 7%

The US and China are Nissan's two biggest markets, accounting for half of global sales in the year through March and 51 in the first quarter of this financial year

South Korea's Hyundai Motor posts record Q2 profit on strong US sales

The automaker, however, warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers

India should keep its focus on EVs with regard to incentives: BMW Group

The German automobile company sells 24 models in India - one plug-in hybrid car, six EVs, and 17 internal combustion engine (ICE) cars

Porsche India retail sales increase 40% to 489 units in Jan-June period

Porsche India on Wednesday said its retail sales increased 40 per cent year-on-year to 489 units in the January-June period. The company saw robust sales of Cayenne and Macan models during the period under review, the luxury sports carmaker said in a statement. "The desire to own a Porsche in India continues to grow and we are elated to see that the first half of 2024 has been our best ever," said Manolito Vujicic, Brand Director, Porsche India. This reflects what has been a solid, continuous growth of sales right across each model line for Porsche in India over the past few years, he added. "It bodes well for the remainder of 2024 with a brace of more exciting new models set to launch in conjunction with further expansion of the Porsche network across the country," Vujicic said. The second half of 2024 will see three exciting new models arrive in India, the Cayenne GTS, 911 sports coupe and Panamera GTS, the company said. Deliveries for these models are planned to commence from

General Motors beats quarterly revenue expectations, raises profit forecast

The Michigan automaker is leaning heavily on its gasoline-engine offerings to fuel its profits through a slower-than-anticipated transition to electric vehicles

Customs duty exemption on lithium, cobalt to aid EV sector growth: Auto Inc

The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday. Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25 proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them. "This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors," she noted. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications, and high-tech electronics, Sitharaman stated. Auto industry body SIAM President Vinod Aggarwal said the exemption of customs duty on import of lithium, cobalt and other rare minerals and

Porsche tones down EV ambitions, says mobility transition will take 'years'

"The transition to electric cars is taking longer than we thought five years ago," Porsche said in a statement

Suzuki expects India's automobile market to grow fivefold by 2047

A total of 4.2 million passenger vehicles were sold in India in the fiscal year ended in March, according to the Society of Indian Automobile Manufacturers

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

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