Page 44 - Automobile Industry

Don't see growth in small car segment in this fiscal year: R C Bhargava

With rising commodity prices and increasing inflation, the cost of acquisition for small cars has increased significantly during the last few years

Maruti Suzuki Q4 net profit up 42.6%; firm declares dividend of Rs 90/share

The automaker also declared a dividend of Rs 90 per share

Mahindra & Mahindra to increase LCV production capacity as demand rises

As per the SIAM data, M&M's domestic sales of LCVs in this segment reached 198,121 units in 2022-23, indicating that production capacity is almost fully utilized

Is Apple's focus on India as momentous as Suzuki's entry 40 yrs ago?

The full measure of Apple's success in India will depend on its becoming more than a phone company. Still, this promising start is sufficient for the moment, writes T N Ninan

Jaguar Land Rover raises EV drive bill to £15 bn to catch up with peers

Jefferies, in a report this month, noted that JLR had been focusing on improving profit and cash flow with an emphasis on selling higher-margin SUVs

Discounts are back to 2019 levels; is this a good time to buy a car?

Dealers across brands are slashing prices by Rs 20,000 to over Rs 1 lakh, depending car model

Unpaid subsidies worth Rs 1,200 cr leading to liquidity crisis: SMEV

Call for the industry and the government to work together to solve the issues

Two-wheel rides saddle up: Growth recovery, valuations to kick-start gains

Eicher hot on the trail of TVS, which is a top pick of most brokerages

Convenient and economical: Why car leasing is catching up in India

Automobile manufacturers report a growing interest in non-ownership options for vehicles

Tata Motors joins rivals, will hike PV prices from May 1 by 0.6%

Company earlier raised prices of its commercial vehicles by 5% as auto industry transitions to new emission norms

Hyundai to launch Tata Punch rival micro-SUV Exter in Aug; details here

The Exter is expected to get a split-headlamp treatment, similar to what Hyundai offers in Creta, Venue, and Alcazar

Four months in waiting, Mahindra Thar to cost up to Rs 1.05 lakh more

The price for the base variant of the Mahindra Thar, which stands at Rs 13.49 lakh (all prices are ex-showroom), remains unchanged

High-interest rates make auto industry cautious about growth prospects

Unseasonal rains impacting rural demand, high-interest rates on auto loans and increased costs due to new regulatory norms are making the automotive industry cautious about the growth prospects in the current fiscal. The industry --- which witnessed the first full year without any impact of COVID-19 in FY23 after a gap of two years with double-digit growth of 21 per cent in overall retail sales -- is now set to clock tapered growth in the low single-digit due to a high base, according to the Federation of Automobile Dealers Associations (FADA). As per data shared by the dealers' body, the total domestic vehicle retail sales stood at 2,21,50,222 units in FY23 against 18,3,27,326 units in FY22. Maruti Suzuki India Senior Executive Officer, Marketing and Sales, Shashank Srivastava said the unseasonal rains in March and early April could have a dampening effect on the sentiment in the rural areas. "Because this is the harvest time and these rains are not so good (for the rural sales),"

Maruti eyes doubling SUV sales in FY24; aims top position with 25% share

The country's largest car maker Maruti Suzuki India aims to more than double its SUV sales this year and take the leadership position in the fast-growing segment with a market share of over 25 per cent, according to a senior company official. The auto major sold 2.02 lakh sports utility vehicles (SUVs) last financial year with a market share of around 13 per cent. In the current fiscal year, the company aims to sell around 5 lakh units. The SUV segment is currently the fastest-growing vertical in the domestic passenger vehicle industry. The SUV contribution to the overall passenger vehicle market has grown from 24 per cent in 2018 to 43 per cent in 2022. In an interaction with PTI, Maruti Suzuki India Senior Executive Officer (Sales & Marketing) Shashank Srivastava said the doubling of the market share in the SUV segment would also help the company in its bid to again surpass the 50 per cent market share mark in the domestic passenger vehicle industry. "This fiscal year we expect

Realty, auto firms expect demand to remain intact after RBI holds rate

Central bank outlook reflects 'sense of optimism' about business and demand growth, says one CEO

EV sales on the rise in March; industry needs policy clarity, says FADA

The industry body says while EV segment as a whole grew by 157% during FY23, govt policy should be clear on how much manufacturers can get and how to encash on the subsidy

Automobile retail sales up 14% in March; post 21% YoY growth in FY23

All vehicle categories, except tractors, post double-digit growth for March and the full financial year

Isuzu Motors names Rajesh Mittal as new head of India operations

Isuzu Motors India on Tuesday said it has appointed Rajesh Mittal as the new President. Mittal, the first person of Indian origin to head the country operations, succeeds Wataru Nakano who takes over as a Head of Isuzu operations in Vietnam. Mittal joined the company's top management team as President of Isuzu Engineering Business Centre India (IEBCI) and as Deputy President at Isuzu Motors India (IMI) in February 2022. Since then, he has focused on consolidating the business and steering key projects while fostering a culture of excellence and collaboration, the automaker said in a statement. Isuzu Motors India also named Yasuhito Kondo as Deputy President.

Automobile industry to log single digit growth in FY24, says Fada

The two-wheeler segment fell to seven years low with total retails of 15.9 million during the year. EV penetration in this category during the year was at 4.5 per cent

Street cheers auto volume data amid interest rate, chip crunch concerns

Rural consumption will be crucial in the near-term for two-wheelers, while tractor sales have been healthy due to higher crop prices and adequate water reservoir levels