Page 20 - Automobile Industry

Mid-sized cities to be big demand centre for electric vehicles: Report

The gap in demand for electric vehicles between large and mid-sized cities in the country is shrinking and the Tier-II 2 cities are likely to emerge as the next big demand centre for EVs, a report said on Tuesday. An analysis of the electric two-wheeler and car sales by strategic research provider BloombergNEF (BNEF) from 207 cities across 10 states also suggests that the electric two-wheeler sales in some tier 2 markets have surpassed metropolitans while within tier 2 cities, state capitals generally leading the growth in electric car sales. India's electric vehicle sales are growing rapidly but vary considerably across the country's 36 states and union territories. While wealthier, populous and more developed tier 1 cities are the current hubs of India's EV demand, adoption in tier 2 cities is growing, BloombergNEF said in its report. The states covered under the report include Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Uttar

Car sales stay on growth track in H1 despite poll, heatwave roadblocks

Maruti Suzuki's domestic PV wholesales during the month increased by 3 per cent year-on-year to 137,160 units in June, compared to 133,027 units during the same month in 2023.

In a first, Tesla deliveries expected to dip 6% for second straight quarter

Tesla has hit a speed bump after years of rapid growth that helped make it the world's most valuable automaker

Tata Motors reports 8% decline in June domestic wholesales at 74,147 units

Tata Motors on Monday reported an 8 per cent decline in total domestic wholesales to 74,147 units in June. The company's domestic wholesales stood at 80,383 units a year ago. Sales of passenger vehicles, including electric vehicles, in the domestic market, were lower by 8 per cent at 43,624 units in June as compared with 47,359 units in the year-ago month, it added. "Going forward, we foresee recovery of demand, as enquiries have remained strong despite low retails in the past two months. This strong enquiry pipeline, in addition to the onset of festive season from August, augurs well for the industry," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra said in a statement. The automaker is fully geared up to leverage this growth opportunity on the back of strong demand for SUV portfolio, especially Punch and Nexon, as well as new launches in the coming months, he added. In the April-June quarter, passenger vehicle dispatches stood at 1,38,682 units compared with ..

Audi India reports 6% decline in June quarter retail sales at 1,431 units

Audi India on Monday reported a 6 per cent dip in retail sales at 1,431 units during the April-June quarter this year. The German luxury carmaker had sold 1,524 units in the year-ago period. "While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance," Audi India Head Balbir Singh Dhillon said in a statement. "We are confident that our supplies will normalise during the second half of this year, and we will be able to better serve customer demand," he said. Further, Dhillon said, it is important to emphasise that demand remains strong for the company's product portfolio. "We are optimistic about long-term growth of luxury mobility in India, including this year," he added.

From US to Japan, here's how strongest car unions deal with EV job losses

In South Korea, Hyundai Motor Co. and Kia Corp.'s moves toward electrification are provoking similar anxieties in that country's highly active and organised labour movement

Toyota to launch EV with advanced self driving system for China in 2025

GAC Toyota is developing the system with Momenta Global, a startup that develops autonomous driving software for automakers including Mercedes-Benz

M&M may surpass Tata Motors, Maruti Suzuki in PV segment in June: Nuvama

Raghunandhan NL, director at Nuvama, predicts a 13 per cent overall volume growth for M&M's automotive sector (including PVs, commercial vehicles, and three-wheelers), reaching 70,500 units

Amara Raja signs licensing agreement with GIB EnergyX for Li-ion cells tech

Amara Raja Advanced Cell Technologies Pvt Ltd on Monday said it has signed a licensing agreement with GIB EnergyX Slovakia s.r.o., for lithium-ion cells technology. As part of the agreement, GIB EnergyX, a subsidiary of Gotion High-Tech Co Ltd, will license Gotion's 'LFP technology' for lithium-ion cells to Amara Raja Advanced Cell Technologies (ARACT), a wholly-owned arm of Amara Raja Energy & Mobility Ltd (ARE&M), the company said in a statement. "This comprehensive agreement enables Amara Raja to manufacture world-class LFP cells in both cylindrical and prismatic form factors," it added. The scope of licensing provides access to cell technology IP, support in establishing gigafactory facilities conforming to the latest generation process technologies, integration with Gotion's global supply chain network for critical battery materials, and customer technical support for solution deployment, the statement said. "We firmly believe that India will be one of the fastest growing

Steelbird Hi-Tech eyes 30% revenue growth this year on high domestic demand

World's largest helmet maker Steelbird Hi-Tech India is eyeing over 30 per cent revenue growth this fiscal owing to the increased domestic demand for branded helmet and potential mandatory helmet usage regulations, the company's Managing Director Rajeev Kapur has said. Kapur also said Steelbird has plans to launch 36 new helmet models for the premium segment at the Motor Show (EICMA) in Milan this year besides launching a super high-end model. "At present only 30 per cent of riders wear helmets and only 10 per cent pillion riders do so. The helmet demand in the country is expected to grow manifold. "Currently, 50 million helmets are being produced in the country -- 45 million branded and five million fake... These (fake) manufacturers are going to be out of business and that demand is going to come to us (branded companies)," Kapur told PTI. He said the company sold eight million helmets in FY24 and is expecting to sell 10 million this fiscal and 15-million by March 2026. "Last ye

TaMo announces third price hike for CVs in 2024 amid rising commodity costs

This hike will be applicable across the entire range of commercial vehicles, with variations depending on individual models and variants

Tata Motors-owned JLR drives up plan to invest Rs 1.9 trn till FY28

In FY24, the company had invested 3.3 billion pounds, and in FY25, it aims to invest 3.5 billion pounds. In FY25, the automaker expects to be net cash-positive

Auto industry grew 19% in value in FY24 as SUVs become popular: Report

Despite high volume of registrations, average price of vehicles in India is cheaper compared to advanced economies

As demand for electric vehicles dwindles, what are startups doing about it?

US EV startups are lowering manufacturing costs, laying off workforce, and racing to develop cheaper models to navigate a slump in demand due to steep borrowing costs

Demand revival may keep rally going for ball bearing industry majors

The Q4FY24 period saw volume and revenue expansions for most domestic players and many also registered margin expansions

Plans for Hyundai Motor India IPO boosts share price in South Korea

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd

Taking pole position: Auto, BFSI dominated Q4 corporate earnings circuit

Operating margins put the pedal to the metal on corporate earnings, fuelled by sector-wide Ebitda margin gains, driving net profits to victory in five straight quarters

Toyota shareholder meeting: Focus remains on level of support for chairman

Toyoda's approval rating fell to 85 per cent last year from 96 per cent in 2022 but he only needs a majority to be re-elected and scandals aside, business has been good

As vehicle sales hit brakes, manufacturers seek extended financing

Auto dealerships are grappling with a 60-day stockpile of four-wheeler inventory, which is imposing a financial burden due to the additional interest costs incurred during the extended holding period

Hyundai Motor, Suppliers Shares Rise in Seoul as India Unit Files for IPO

Hyundai has been locked in competition with rivals including Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd