Page 40 - Automobile Industry

M&M August sales up 19% overall, automaker reports 26% growth in SUVs

Farm equipment sales see 3% growth, while exports drop by 26% YoY; 3-wheeler sales up 47%

Mahindra Logistics to provide Flipkart with heavy commercial vehicles

Companies announce collaboration to improve e-commerce firm's line haul transportation

Maruti Suzuki reports highest ever monthly sales of 189,082 units in August

Maruti Suzuki India on Friday reported its highest-ever monthly wholesales at 1,89,082 units in August. The auto major's dispatches to dealers last month were 14 per cent higher as compared to 1,65,173 units in August. Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 per cent, Maruti Suzuki India (MSI) said in a statement. Sales of mini segment cars, comprising Alto and S-Presso, declined to 12,209 units last month from 22,162 units in August 2022, it added. Dispatch of compact cars, including Baleno, Celerio, Dzire, Ignis and Swift rose to 72,451 units over 71,557 units in the year-ago period. Utility vehicles, consisting of Brezza, Grand Vitara, Jimny, Ertiga and XL6, clocked sales of 58,746 units last month as compared to 26,932 units in August last year. MSI said its exports last month stood at 24,614 units as against 21,481 units in the same month last year.

Toyota records highest-ever monthly sales at 22,910 units in August

Toyota Kirloskar Motor (TKM) on Friday reported its best-ever monthly sales at 22,910 units in August. The company's total dispatches to dealers increased by 53 per cent last month to 22,910 units as compared with 14,959 units in August 2022. The company said it sold 20,970 units in the domestic market last month. Exports stood at 1,940 units last month, it added. "Strong sales volume and enhanced demand showcase customers' ever-growing affinity for the brand. Toyota Urban Cruiser Hyryder and Innova Hycross continue to register a strong demand," TKM Vice President of Sales, and Strategic Marketing Atul Sood said in a statement. The Innova Crysta, Fortuner and Legendar are witnessing sustained segment leadership, he added. "Encouraged by the overwhelming response to our entire portfolio, we are constantly working on expanding our product portfolio to offer customers wider choices. In-line with the same, we announced two new launches in the month of August," Sood said. The company

Bajaj Auto total vehicle sales fall 15% to 341,648 units in August

Bajaj Auto on Friday said its total vehicle sales, including sale of commercial vehicles, declined 15 per cent to 3,41,648 units in August. The company had reported total sales of 4,01,595 vehicles in August last year. The total domestic sales dropped 20 per cent to 2,05,100 units in the previous month as compared to 2,56,755 units sold in August 2022, Bajaj Auto Ltd said in a statement. Total vehicle exports fell 6 per cent year-on-year to 1,36,548 units in August from 1,44,840 units shipped to the overseas markets in the year-ago period, it said. Its total two-wheeler sales declined 20 per cent to 2,85,031 units in the previous month from 3,55,625 units sold in August 2022. Two-wheeler exports, however, increased 2 per cent to 1,24,211 units in August 2023 as against 1,21,787 units in the same month last year.

As Indian mkt matures, global automakers aim to make India an export hub

Global automakers are looking to turn India into an export hub, as people are shifting from local demand to pricier vehicles and that may spur more 'India-first' models

Ramkrishna Forgings bags 8.25 million Euro order in South America

Home-grown Ramkrishna Forgings on Tuesday said it has bagged an order worth Euro 8.25 million, about Rs 73.65 crore, for the supply of equipment to a client in the South American market. The company will be supplying front and rear axle components for the next five years, it said in a statement. "This contract represents a significant step in our journey to expand and diversify our operations in the South American market," said Ramkrishna Forgings CFO Lalit Kumar Khetan. "We are honoured to be chosen for this partnership which signifies not only our prowess in providing high-quality components but also solidifies our commitment to fostering innovation and excellence in the automotive segment," he said. The Kolkata-based company is a leading supplier of rolled, forged, and machined products. It has formed a joint venture with Titagarh Railsystems to manufacture and supply 80,000 wheels to the Indian Railways. The company, which exports to over 50 countries, has a manufacturing faci

TVS Motor revs up with strong outlook, market share gains, new launches

Two-wheeler company's margin gains among factors that should be monitored: Analysts

Arnab Roy to be Maruti Suzuki's new CFO from January 1, Ajay Seth to retire

Ajay Seth, current CFO of the company, will step down from his post on December 31 on account of superannuation

Maruti Suzuki plans to double production capacity to 4 mn over 8 years

The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker

BYD reports its weakest revenue as auto price war takes a toll in China

Revenue rose 67 per cent to 140 billion yuan ($17.8 billion) in the three months ended June, the smallest gain since the first quarter of 2022, according to Bloomberg calculations

Toyota launches Rumion MPV at Rs 10.29 lakh; booking starts at Rs 11,000

The Rumion costs about Rs 51,000-61,000 more than the Ertiga (the car it is based upon), which varies according to the variant one decides to buy

Samvardhana Motherson misses Q1 profit view as higher costs weigh

The company also benefited from a recovery in vehicle production volumes in its key markets of China, Europe and North America

Ashish Kacholia buys 1 mn shares of this auto company; stk up 43% in 2 days

Ace investor Ashish Rameshchandra Kacholia bought 1.03 million shares os Universal Autofoundry on Thursday

Revolt Intellicorp returns Rs 50 cr claimed under FAME for flouting rules

Revolt Intellicorp, one of the seven companies accused of violating phased manufacturing programme guidelines under the Rs 10,000-crore FAME-II scheme, has repaid the subsidy claimed, along with interest, amounting to Rs 50.02 crore to the government. Joint Secretary in the Ministry of Heavy Industries Hanif Qureshi confirmed the repayment and said the ministry will give "a few weeks more" to six other companies found violating the Phased Manufacturing Programme (PMP) norms. He said while notices were issued to the firms after giving them a hearing, more time will be given as some of them maintain that they have not violated norms and will be required to submit documents validating their claims. Apart from Revolt Intellicorp, the six other companies found violating the norms were Hero Electric, Okinawa Autotech, Ampere Vehicles (Greaves Cotton), Benling India, Amo Mobility, and Lohia Auto. "We'll give them a few weeks more. Still giving them 2-3 chances in case they want to furnish

SMEV appoints Yulu Bikes co-founder R K Misra as new President for 2023-24

Society of Manufacturers of Electric Vehicles (SMEV) on Thursday said it has appointed R K Misra, Co-Founder of Yulu Bikes and Director at Magna Yuma, as its new President for 2023-24. The electric two-wheeler body also named Akshay Kashyap, Umesh Balani and Anadi N Sinha as Vice President, Secretary and Treasurer, respectively. Kashyap is Managing Director of Greenfuel Energy Solutions; Balani is Managing Director of Rotomag Group; Sinha is Director, Group Corporate Affairs at UNO Minda. Last month, SMEV had temporarily suspended its present constitution while appointing former BJP spokesperson Sanjay Kaul as its Chief Evangelist to help revise the agenda of the association. Kaul will continue in his role as Chief Evangelist.

Will unveil 100% ethanol-fueled Toyota's Innova car on August 29: Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Wednesday said he will unveil a 100 per cent ethanol-fueled variant of Toyota's Innova car on August 29. The Union minister, who has been exhorting automakers to come out with alternative fuel-powered and green vehicles, had last year launched a hydrogen-powered car, Toyota Mirai EV. "On August 29, I am going to launch the popular (Toyota) Innova car on 100 per cent ethanol," Gadkari said while addressing the Mint Sustainability Summit here. This car will be World's first BS-VI (Stage-II), electrified flex-fuel vehicle. Gadkari said that he started taking interest in biofuels in 2004 after the petrol price hike in the country and visited Brazil for this purpose. He opined that biofuels can do wonders and save a lot of forex which is being spent on the import of petroleum. "If we want to become Atamnirbhar (self-reliant) we have to bring this oil import to zero. At present it is Rs 16 lakh crore. This is a big loss to the

Revolt Motors launches limited edition RV400 electric motorcycle: Details

The limited edition RV400 is available in stealth black colour and comes with high-end golden upside-down front forks

Atul Auto zooms 19% on heavy volumes, hit highest level since May 2018

A combined 3.33 million shares, representing 12.8 per cent of total equity of Atul Auto, changed hands on the NSE and BSE till 12:05 PM

Electricity usage by EVs in Maha rises to 14.44 mn units in July: MSEDCL

The power usage for electric vehicles (EVs) rose more than three-fold from 4.56 million units in September last year to 14.44 million units in July 2023, the Maharashtra State Electricity Distribution Company Limited said on Monday. State-run MSEDCL, also called Mahavitaran, is the nodal agency for providing charging stations for EVs, as well as other works like helping the private sector come up with such infrastructure, and assisting the government in policies regarding the sector, an official release said. Quoting MSEDCL CMD Lokesh Chandra, the release said the power usage for EVs in Maharashtra was 4.56 million units in September 2022, which rose to 6.10 million units in March and further to 14.44 million units in July this year. The sale of power for EVs took place from 3,214 public and private charging stations statewide, it said, adding that the sale of EVs in Maharashtra increased from 4,643 in 2018 to 1,89,698 in 2022 and 2,98,838 as on March 31 this year. Two-wheelers ...