Page 21 - Automobile Industry

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

MHI draws up three proposals for FAME-III scheme budget firepower

Proposals range from Rs 12.6K-30K cr but FinMin reluctant to allocate more than Rs 10K cr

Changing gears: India's growing love for SUVs key to Hyundai's success

The SUV segment in India is expected to grow at a CAGR of 7% to 9% from FY24 to FY29

IPO-bound Hyundai India and its rivals in world's third-biggest car market

Hyundai Motor India sought regulatory approval on Saturday to list on the Mumbai stock market in what could be the biggest IPO in the South Asian nation

Up against 60 days' inventory, car dealers seek Siam's intervention

The 60-day inventory levels are close to the 2018-19 levels when inventory inventory days had neared 70 days, and around 282 passenger vehicle dealerships had shut shop

Cars could get costlier as automobile emission norms set to tighten

Under the third phase of the corporate average fuel efficiency standards, automakers must reduce carbon emissions by one-third in three years

Chinese auto manufacturers outsold US counterparts for first time last year

"Negligence from legacy automakers, which has resulted in consistently high car prices, has inadvertently driven consumers toward more affordable Chinese alternatives," Jato analyst Felipe Munoz said

Tesla expects to hike price of China-made Model 3 in EU due to tariff hike

The message, displayed on Tesla's website for countries including Germany, France, Ireland, Belgium, and Hungary, urged prospective buyers to place their orders in June

Mercedes Benz to invest Rs 3,000 crore in Maharashtra: Minister Samant

German car-maker Mercedes Benz will make an investment of Rs 3,000 crore in Maharashtra, state Industries Minister Uday Samant said on Thursday. In a post on X, Samant said while on a tour of Germany, he met top executives of Mercedes Benz on Thursday and discussed investment opportunities in the state. "Mercedes Benz will invest Rs 3,000 crore in Maharashtra this year. This will help create employment opportunities in the state," he said. The development could give a shot in the arm, ahead of assembly elections, to the Shiv Sena-BJP-NCP government which has been battling charges from the opposition that Maharashtra is losing big-ticket industrial projects to other states including Gujarat.

Mahindra Group to focus on delivering scale over next decade: MD Anish Shah

Farm equipment to aerostructure conglomerate Mahindra Group will focus on delivering scale with its businesses that it 'believes' will cover 70 per cent of India's growth over the next decade, according to its Managing Director and CEO Anish Shah. The group, which has completed exits from 15 companies in a variety of areas to become a much leaner and agile organisation, is also focusing on increasing the valuation of its newer businesses, what it calls 'growth gems' by five times in the next five years from the value of USD 4.2 billion as on March 2024. "Today, what we have is a set of companies that we feel are very strong, very well positioned in the market and each of them can be a scale company. For us now it is about delivering scale," Shah told PTI in an interview. When asked where he sees the Mahindra Group in terms of size and scale in the future, he said, "Our focus now is to deliver scale, focus on the businesses we have. These businesses cover what we believe is 70 per c

Future of Musk, Tesla on line this week as shareholders vote on pay package

If Tesla shareholders vote against restoring Elon Musk's USD 44.9 billion pay package Thursday, the CEO could deliver on threats to take artificial intelligence research to one of this other companies. Or he could even could walk away. If they approve the all-stock compensation package that was thrown out by a Delaware judge in January, it would almost guarantee he would remain at the company he grew to be the world leader in electric vehicles, shifting to AI and robotics including autonomous vehicles, which Musk says is Tesla's future. But even with reapproval at Thursday's annual shareholders' meeting, which many analysts say is likely, there would be uncertainty. Musk has threatened on X, his social medial platform, to develop AI elsewhere if he doesn't get a 25% stake in Tesla (He owns about 13% now). Musk's xAI recently received $6 billion in funding to develop artificial intelligence. Wedbush Analyst Dan Ives said he expects the package to be overwhelmingly reapproved, ending

Hyundai Motor India prepares for IPO filing, potential to raise $2.5 bn

Hyundai Motor India IPO: Indian unit of the Korean automaker is expected to file a DRHP with Sebi within the next two weeks

Norway sovereign fund opposes Elon Musk's $56 bn Tesla pay package

The vote at next week's AGM will be the second time Musk's pay package has been put before shareholders. A judge voided an initial vote that approved the package in 2018