Page 23 - Automobile Industry

TVS Motor Q4 result: Net profit up 15% to Rs 387 cr, revenue jumps 25%

TVS Motor Q4 result: The company's revenue from operations jumped to Rs 10,042 crore in Q4FY24 compared with Rs 8,031 crore in the fourth quarter of FY23

US seeks info from Tesla on how it verified if autopilot recall worked

The agency said it will evaluate whether driver warnings are adequate, especially when a driver-monitoring camera is covered

Tesla's China manufactured electric vehicle sales decline 18% in April

The sharp slide contrasts with rising EV sales in the world's largest auto market, albeit at the slowest pace in a year in the first quarter, amid slowing demand and a ferocious price war

Tesla lays off more staff in software, engineering, service teams: Report

The EV maker has been under pressure from dropping sales and an intensifying price war among automakers as elevated interest rates have slowed the adoption of electric vehicles

Tesla vs Tesla: US carmaker sues Indian namesake for trademark infringement

During the hearing, the Indian company, Tesla Power India Pvt Ltd, argued its main business is to make "lead acid batteries" and it has no intention of making electric vehicles

Expect India to become 2nd largest market for Citroen in 5 years: CEO

French automaker Citroen expects India to become its second biggest market after home country in the next five years, for which it will accelerate network expansion besides introducing new products, company global CEO Thierry Koskas said on Thursday. The company will be incorporating learnings from the past few years of its presence in India to attract more consumers besides looking to rope in a brand ambassador to push the brand's visibility in India. "India is an important market for Citroen and in a few years, it will become the second biggest market for us after our home market France," Koskas told PTI here in an interview. At the moment, India is "probably in the top 10 markets for Citroen, more towards the 10th rather than upwards", he said, adding, "So, there is a lot of room for improvement, but I think it's absolutely possible." Asked by when Citroen expects India to become its second biggest market, he said, "To become the number two, I think it's absolutely doable in the

Musk fires Tesla EV charging team, blindsiding automobile manufacturers

General Motors, Ford and other automakers which struck deals last year to give customers access to the network said they are not changing their plans

Maruti Suzuki expects reincarnation of small car segment by 2026-end

Maruti Suzuki India expects a revival of the small car segment in the domestic market by 2026-end or 2027, after suffering from affordability issues and onslaught from SUVs, according to a senior company official. The small car segment, which had once dominated the Indian total passenger vehicles market, accounts for less than 30 per cent at present. The company is hopeful that the resurgence seen in the two-wheeler market, which has also witnessed decline since 2018-19, will have a positive impact on small car sales as well. "The SUV segment's contribution has gone up to 53.6 per cent of total (passenger vehicle) industry as a result of which the contribution of the small (car) segment has gone down a little bit further," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee said in a virtual interaction. There has been a "steep increase in the prices of hatchbacks" due to a variety of reasons, including regulations related to safety and emissions ...

Hyundai's India unit, Tata Motors post higher April sales, Eicher sales dip

The sales numbers are seen as a key indicator of private consumption in India. The auto sector has more than 50% weightage in calculating the country's economic growth

Toyota's April 2024 wholesales rise 32% to 20,949 units, exports at 1,794

Toyota Kirloskar Motor on Wednesday said its wholesales increased 32 per cent year on year to 20,494 units in April. The automaker had dispatched 15,510 units to its dealers in April 2023. The growth momentum was sustained despite a week-long maintenance shutdown from April 6 for upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety, the company said in a statement. Last month, the company said its domestic sales accounted for 18,700 units while exports totalled to 1,794 units. "Our product strategy resonates the strong connect with the market thanks to the diversified portfolio," Toyota Kirloskar Motor Vice President, Sales-Service-Used Car Business Sabari Manohar said.

US to introduce mandatory emergency braking systems in new cars by 2029

The rule requires that systems detect pedestrians in both daylight and at night. Some small-volume manufacturers will be allowed to comply by September 2030

Statsguru: Record run for electric cars globally, lower pickup in India

The value-conscious nature of the Indian consumer is playing a role. The cost of ownership over the lifetime of the vehicle is significantly lower for electric two-wheelers and three-wheelers

Tesla's plan for affordable cars follows playbook of its Detroit rivals

Tesla said the change would allow the company to launch low-cost vehicles swiftly but would result in smaller cost reduction than had been expected and modest volume growth

Donald Petersen, CEO who pulled Ford out of 1980s crisis, dies at 97

Under Petersen, Ford's ad slogan became 'Quality is Job One'

VinFast chief plans to invest $1 bn more from his fortune in EV maker

Pham Nhat Vuong also said Vingroup was considering listing its hospitality unit Vinpearl this year

Hero MotoCorp opens assembly facility with 75,000 units capacity in Nepal

Two-wheeler major Hero Motocorp on Sunday said it has opened an assembly facility in Nepal in partnership with its distributor CG Motors. The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region, Hero MotoCorp said in a statement. Four products - - Xpulse 200 4V, Super Splendor, Splendor+ motorcycles and Xoom 110 scooter -- which have been launched in the country - - will be assembled locally at the new assembly facility located in CG Industrial Park in Nawalparasi, it added. "This is an exciting development for us, CG Motors and for Nepal. The state-of-the-art assembly unit will ensure that our world-class products will now be made in Nepal and available to customers across the country," Hero Motocorp Chief Business Officer - Global Business Unit, Sanjay Bhan said. He further said, "The rapid expansion of the sales and service network will enable us to entrench the market with our world-class products and

Tesla to recall 3,878 Cybertrucks to fix faulty accelerator pedal

A trapped accelerator pedal could cause the vehicle to accelerate unintentionally, increasing the risk of a crash, the auto safety regulator said in a notice

Tesla's Musk likely to unveil $2-3 billion India investment during visit

Musk's visit comes as Tesla battles slowing sales in the major markets of the United States and China, and has this week announced layoffs affecting 10% of its workforce

Daimler India to enter battery electric segment with new gen eCanter

Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. "The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio," Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added. "A long-term plan like ours hinges on many complex external factors, some of which are, the availability of a charging and refuelling infrastructure, the availability of green energy, cost parity and wide-scale customer acceptance," Arya .

Automobile exports from India dip 5.5% in FY24 due to monetary crisis

Automobile exports from India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. Commenting on the drop in overseas shipments last fiscal, SIAM President Vinod Aggarwal said the situation remains volatile in various overseas markets. "Some of the countries, where we are very strong with commercial vehicle and two-wheeler exports, have been facing foreign exchange-related issues," he noted. The last fiscal saw a sizeable drop in commercial vehicle, two-wheeler and three-wheeler shipments, although passenger vehicles grew marginally. However, in the January-March quarter this year, we have seen good recovery, especially for two-wheelers, indicating better potential for the rest of the year, he said. "We are very hopeful that going forward, the situation will improve," Aggarwal added. In the ..