Page 46 - Automobile Industry

Uncertainty in Nigeria affects Indian auto, pharma, and consumer firms

Consumer companies like Godrej and Dabur too have significant exposure to Nigeria

Rajan Amba to take over as JLR managing director, succeeds Rohit Suri

Appointment comes at a time when JLR is facing supply chain issues hampering its production

Tesla now cheaper than average new car in the US, says report

Even before those cuts, it was the third best-selling SUV in the US last year, after the Toyota RAV4 and the Honda CR-V

Near-term demand worries in replacements biz cloud Apollo Tyres' outlook

There could be some margin relief on account of falling input costs

SAS' capex need is much lower than our traditional business: Motherson

SAMIL announced it is buying SAS Autosystemtechnik (SAS), which manufactures automobile cockpit modules, from French company Faurecia at an enterprise value of Rs 4,790 crore

Minda Corp set to focus on organic growth after 15.7% Pricol buy

Pricol is a major player in the connected vehicle solutions and telematics segment of the auto component industry

Semiconductor chip supply constraints put brakes on auto OEM ramp-up

Firms struggle to increase production as supplies yet to fully normalise

Japan's Nissan reports 55% jump in profits as chip shortages decline

Nissan reported a 55% jump in October-December profit Thursday, as the Japanese automaker seeks to embark on a less bumpy journey with its French alliance partner Renault. Profit for the quarter at Yokohama-based Nissan Motor Co. totaled 50.6 billion yen ($386 million), up from 32.7 billion yen the previous year. Quarterly sales surged 29% to 2.8 trillion yen ($21 billion), as a shortage of computer chips that has slammed the world's automakers gradually eased, according to Nissan. The crunch was caused by COVID-19-related lockdowns and other restrictions, which hindered Nissan's ability to deliver vehicles to customers. Some buyers were waiting for a year for their Z sportscar or Ariya sport utility vehicle, said Chief Operating Officer Ashwani Gupta. We really don't want our customers to wait this long, he told reporters. The rising cost of raw materials, inflation pressures and volatile currency exchange rates have added to the risks for the auto industry, including Nissan. N

India's Escorts Kubota posts 7.5% drop in Q3 profit on higher input costs

Indian tractor maker Escorts Kubota Ltd reported a 7.5% fall in quarterly profit on Wednesday, as margins were pressured from persistently high raw material costs

SUVs may rule but premium hatches, small cars drive volumes in India

While almost all cars that fell into that category cost less than larger sedans or even mid-size SUVs, the underlying truism led to two realities

Turning India into a green mobility hub

While almost all cars that fell into that category cost less than larger sedans or even mid-size SUVs, the underlying truism led to two realities

CNG, EVs, hybrid vehicles to comprise 30% of total auto sales: ICRA

CNG, EVs and hybrid vehicles may grab up to 30 per cent share in total auto sales in next five years even as petrol cars are likely to dominate passenger vehicle volumes in medium-term, a report said on Tuesday. Demand for Electric Vehicles (EVs) has increased exponentially in the last two years with the government's push, increasing awareness, and new launches, domestic rating agency Icra said in its report. However, the share of EVs in the overall PV (passenger vehicle) industry remains low, at 1 per cent currently, it stated. On the other hand, CNG vehicles have also gained prominence in recent years, aided by favourable running costs, improving penetration of CNG dispensing stations across the country, and enhanced product offerings by OEMs, Icra said and added, lower emissions in CNG vehicles would also help OEMs (original equipment manufacturers) comply with the impending Corporate Average Fuel Economy (CAF) norms. Noting that a cohesive approach from all stakeholders is ...

India's retail vehicle sales up 14% to 1.8 million units in January: FADA

This improvement would fuel growth in an already healthy passenger vehicle category, the automobile dealers' body said

Funding for electric vehicle sector up 117% in 2022, at $1.6 billion

The Budget exemption for Customs duty on capital goods and machinery for manufacture of EV batteries, and the duty cut on lithium batteries from 21 per cent to 13 per cent will lower prices

JK Tyre and Industries' Q3 profit up 24%, income rises 17% to Rs 3,622 cr

The company's total income during the quarter was seen up by 17 per cent to Rs 3,622.62 crore, as against Rs 3,083.95 crore during the third quarter of 2021-22

Hyundai Motor India's rural sales cross 100,000-mark in 2022

Hyundai Motor India on Friday said its sales in the rural areas crossed one lakh-mark last year. The company said it has deployed its 100th Mobile Service Van (MSV) in Siliguri (West Bengal) to further strengthen its commitment to the rural markets. Hyundai Motor India Chief Operating Officer Tarun Garg said there was a growth of 17 per cent in the rural sales last year as compared to 2019. "We are confident that the company's growing rural network of over 600 outlets will act as a catalyst in enhancing customer peace of mind," he added. As upcountry customers demand more attention and care, the automaker has increased its rural manpower to over 5,000 in 2022, Garg said. Hyundai had commenced doorstep car care initiative with its first mobile service van in Meerut (Uttar Pradesh).

Automobile exports record growth of 35.9% from 2020-21 to 2021-22

The Vehicle exports have witnessed an impressive growth during 2021-22. Export of the total number of automobiles increased from 41,34,047 in 2020-21 to 56,17,246 in 2021-22

Car-sharing firm Getaround lays off 10% of workforce with immediate effect

The US-based car-sharing company Getaround has announced laying off about 10 per cent of its workforce with immediate effect

Ford Motor Co posts lower profit, issues downbeat outlook; shares drop

Ford Motor Co said quarterly profits fell and automaker predicted a difficult year ahead, sending its shares down after bell as investors were disappointed

Steady demand pushes domestic PV sales up 17.4% in Jan despite price hikes

The auto industry sold 346,000 units this January, compared to 295,000 a year ago