Page 49 - Automobile Industry

Ather Energy, Greaves Cotton exit EV association SMEV, choose Siam

SMEV was set up primarily for electric two-wheeler players and start-ups in this space. Its membership restricts the entry of companies that have ICE operations and use petrol

TaMo, M&M: Price rise unlikely to put auto stocks in top gear, charts show

Automobile stocks like Tata Motor, M&M, HeroMoto Corp, and TVS motors need to cross significant hurdle to rally further

Maruti Suzuki recalls 9,125 vehicles to fix possible defects in seat belts

Maruti Suzuki India on Tuesday said it is recalling 9,125 units of its models Ciaz, Brezza, Ertiga, XL6 and Grand Vitara to fix possible defects in a part of the front row seat belts. The affected vehicles were manufactured between November 2-28, 2022, Maruti Suzuki India said in a regulatory filing. "It is suspected that there is a possible defect in one of the child parts of shoulder height adjuster assembly of front row seat belts, which in a rare case, may lead to seat belt disassembly," it said. The company said it has decided to recall the suspected vehicles for inspection and replacement of the faulty part, free of cost. "Affected vehicle owners will be receiving communication from the company's authorised workshops for immediate attention," it said.

Kia India records 69% increase in total sales at 24,025 units in Nov

Kia India on Thursday reported a 69 per cent rise in total sales at 24,025 units in November this year. The company had sold 14,214 units in the same month last year, Kia India said in a statement. Flagship SUV Seltos led the sales with 9,284 vehicles with Sonet, Carens, and the Carnival recorded sales of 7,834, 6,360 and 419 units, respectively last month, it added. Kia India said it also delivered 128 units of EV6 in the domestic market, taking the total EV6 deliveries to 296 units. The company has been able to post healthy sales figures throughout this year due to improved customer sentiment and pent-up demand, Kia India Vice President and Head of Sales & Marketing Hardeep Singh Brar said. The commencement of the third shift at the company's Anantapur Plant earlier this year and gradually improving supply chain has also helped streamline the delivery period and meet customer expectations, he added. "However, we will remain observant of dynamic market conditions," Brar added.

Skoda India reports two-fold increase in November sales at 4,433 units

Skoda Auto India on Thursday reported two-fold increase in sales for November 2022 at 4,433 units. The company had sold 2,196 units in the same month last year. "We have doubled our annual sales this year, over 2021, with a big month of December still to go," Skoda Auto India Brand Director Petr Solc said in a statement. Cumulatively, from January to November 2022, the automaker sold 48,933 units, which is more than double of the 23,858 cars sold in 2021.

Bajaj Auto total sales in November decline 19% YoY to 306,552 units

Bajaj Auto on Thursday reported a 19 per cent decline in total sales at 3,06,552 units in November, compared to 3,79,276 units in the same month a year ago. Total sales in the domestic market stood at 1,52,716, down 4 per cent from 1,58,755 units in the same month last year, the company said in a regulatory filing. Bajaj Auto said its exports last month were down 30 per cent at 1,53,836 units, as against 2,20,521 units in the same month last year.

Vikram Kirloskar remade Indian manufacturing; his legacy is everlasting

Vikram Kirloskar, vice chairperson of Toyota Kirloskar Motor, passed away at age 64 on Tuesday

Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar passes away at 64

Vikram Kirloskar, a pioneer of India's automotive industry, played a key role in bringing Japan's Toyota Motor Corp to India in the late 1990s

Ola Electric on track to open 200 experience centres by end of 2022

The experience centres will enable customers to touch and feel Ola scooters, clarify their queries, and avail support both before and after purchase

Reducing taxes on automobiles can benefit economy: Vikram Kirloskar

A roadmap to reduce taxes on automobiles by half over a 10-year period to make the Indian auto industry more competitive globally and provide large scale employment to benefit the economy needs consideration, according to Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar. Although at the moment India cannot afford to slash the tax rate on automobiles drastically, he said a plan to reduce cess on the industry can be looked at considering the sector's contribution to the overall GDP of the country. "The auto industry is highly taxed. If we look at a car by the time it's produced and by the time it's sold, in most cases it is 30 to 50 per cent more than the ex-factory prices (after adding) GST and all the other taxes, including road taxes," he told PTI in an interview. He further said, "We as an industry are very competitive. I think in the world, cost wise, quality wise, we have become quite competitive. So I think a plan to reduce taxes over a period of time will really benefit t

Pravaig launches electric SUV Defy at Rs 39.5 lakh; deliveries next year

Electric mobility startup Pravaig Dynamics on Friday launched a sports utility vehicle Defy, tagged at Rs 39.5 lakh (ex-showroom) to compete with the likes of Audi e-tron and Mercedes Benz EQC . The Bengaluru-based company has commenced the bookings of the model and deliveries are expected to begin from the third quarter of next year. The company aims to produce 10 lakh units by 2028 and cater to both domestic and international markets. "At the beginning we will try to address the domestic market and will look at exports in 2024," Pravaig Chief Strategy Officer Ram Divedi told PTI in an interaction here. In the long run 70 per cent of the production would go into the overseas markets, he added. Divedi said Defy is more affordable to own than other competing products in the market. The SUV comes with a driving range of around 500 km and 402 BHP power, he added. Pravaig, which has a manufacturing plant in Bengaluru, plans to commence production with a few thousand units and scale

Castrol to pick up 7.09% stake in TVS family's Ki Mobility for Rs 488 cr

With this deal, which is Castrol's largest all-cash transaction, the firm aims to expand its presence in service and maintenance of ICE vehicles and EVs

Toyota Kirloskar Motor focussing on hybrid vehicles: VC Vikram Kirloskar

Toyota Kirloskar Motor will bring electric vehicles in India in future, but at the moment it is focussing on hybrid vehicles keeping in mind the objective of meeting holistic carbon reduction, company Vice Chairman Vikram Kirloskar said. The company, which on Friday unveiled Innova Hycross -- the new hybrid version of its popular multi-purpose vehicle Innova -- also expects full capacity utilisation at its two manufacturing units in Bengaluru by the middle of next year. "I think the country's objective is to reduce carbon (emission). You have to look at it holistically and (on a) scientific basis and that's what we are doing," he told PTI here, when asked about Toyota Kirloskar Motor's strategy of focussing on hybrids at a time when electric vehicles (EVs) have started gaining traction in India. Kirloskar argued that considering the current low level of renewable energy sources in India, EVs do not necessarily serve the purpose of reducing carbon emissions. He cited a recent study

Pre-owned segment likely to narrow value gap with new cars by FY27: Study

Shift to UVs from sedans, vans, and small cars to drive the trend

Volvo-Eicher looks to make most of post-pandemic recovery in bus market

Aims to disrupt intercity segment with fully-built luxury coaches

Indian techies writing 35% of 100 mn lines of code for the driverless car

Global auto Tier-1 firms already have 50,000-55,000 software engineers working in India, OEMs have another 25,000

Inflows in Tata Motors stock may surge as it replace Dr Reddy's in Sensex

Change effective from Dec 19, but adjustment will take place on Dec 16. After DRL's deletion, Sun Pharma will be the only healthcare stock in the index

Jaguar Land Rover looks to hire laid off tech workers, says report

The carmaker on Friday announced a jobs portal for displaced tech workers to fill 800 roles

Bajaj Auto eyes south east Asia to take e-scooter space by storm

Bajaj's presence in this market in ICE vehicles has been limited till now because the region is essentially a step-through two-wheeler and scooter market

Harley back in saddle: Rides with Hero for 'most affordable' bike

The mid-segment bike will be the first among several models planned, will be sold separately by both companies under their own brands