Page 46 - Automobile Industry

Gabriel India ties up with Inalfa to manufacture sunroofs for PVs

Auto component maker Anand Group on Tuesday said its unit Gabriel India has inked a technical collaboration with Netherlands-based Inalfa Roof Systems to manufacture sunroofs for the passenger vehicles. The newly formed Inalfa Gabriel Sunroof Systems (IGSS), which will initially be a wholly-owned subsidiary of Gabriel India, will produce sunroofs at a new plant in Chennai with operations set to commence in the first quarter of 2024 with an investment of around Rs 170 crore. The entities noted that the IGSS will be later converted into a joint venture with Inalfa holding 51 per cent shareholding. IGSS will have an installed production capacity of 2 lakh units in the first phase with first line catering to South Korean automakers Hyundai and Kia. "This partnership supports the government's AtmaNirbhar manufacturing drive; provides our OEM (Original Equipment Manufacturer) customers with a domestic and resilient supply chain for sunroofs," Anand Group Executive Chairperson Anjali Sing

FADA flags concerns over 2-wheeler sales by unauthorised multi-brand stores

Automobile dealers' body FADA on Tuesday said the illegal practice of unauthorised multi-brand outlets selling two-wheelers is making legitimate dealerships lose business and turn unviable. The Federation of Automobile Dealers Associations (FADA) said it has approached various authorities to take strict action against the practice. The multi-brand outlets (MBOs) are acquiring unregistered vehicles in bulk from dealers and reselling them to customers at discounted rates, higher than the prices offered by original equipment manufacturers (OEMs) through authorised dealers, without any commitment to after-sales service, FADA said in a statement. This has not only impacted the legitimate dealerships but has also shaken customers' confidence in the brand and dealer partners, it added. Furthermore, the outlets indulge in evasion of GST, income tax, issuance of fake/ undervalued insurance policies, delivery of vehicles without registration/ HSRP and helmets, resulting in revenue loss on ..

Overall connected vehicle technology grows 60% on year in Jan-Mar

Overall connected vehicle technology grew more than 60% (on-year) in first quarter of this year, with the electric vehicle market showing stupendous growth by 48% YoY, a report showed

Q4 earnings: India Inc's net profit growth slowest in 11 quarters

Slowdown in revenue growth, spike in interest expenses hit Q4 earnings

General Motors lays off several hundred full-time contract workers

The Detroit automaker did not immediately respond to a Reuters request for comment. GM shares were up about 2.5% to $33.86

TVS Motor's total sales sees 4% YoY uptick to 3.06 lakh units in April

TVS Motor Company on Monday reported a 4 per cent rise in total sales to 3,06,224 units in April 2023 compared to 2,95,308 units in the same month last year. Total two-wheeler sales grew by 5 per cent to 2,94,786 units last month as against 2,80,022 units in April 2022, with domestic sales rising to 2,32,956 units from 1,80,553 units in the year-ago period, TVS Motor Company said in a statement. Sales of electric scooter TVS iQube Electric were at 6,227 units in April 2023 as against sales of 1,420 units in the same month last year, it said, adding the production was constrained last month due to new battery safety norm AIS156 changeover and supply chain challenges. On the export front, the company said overseas shipments were at 71,663 units last month as against 113,427 units April 2022 with two-wheeler exports at 61,830 units, down from 99,489 units in the year ago-month. Three-wheeler sales were at 11,438 units in April 2023 as against 15,286 units in the same month last year,

To match Indian aspirations, carmakers to launch 81 new vehicles this year

Carmakers are looking at new sub-segments in the SUV space and trying to expand their offerings to lure in more and more customers

Maximum waiting period accelerates for India's best-selling cars

Only five of India's top 20 car models have seen a reduction in wait times over the past year

Govt releases regulations under PLI scheme for automobile industry

The Union government on Thursday announced the standard operating procedure of the production linked incentive scheme for automobile sector, whereby applicants can submit applications for testing and certification of advanced automotive technology products, which will help them qualify for incentives. Minister of Heavy Industries Mahendra Nath Pandey said his ministry is trying to align itself with the Prime Minister's vision of Aatmanirbhar Bharat, and these SOPs (standard operating procedures) will not only help achieve that but will also help in increasing the manufacturing foothold. With this, the ministry aims to boost the domestic manufacturing sector and reduce dependence on imports, thereby creating more job opportunities for Indians. Pandey also added that it would contribute to the overall economic growth of the nation. The scheme is expected to attract significant investments and help India become a global hub for automobile manufacturing, an official statement said. The

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