Page 50 - Automobile Industry

Maruti chalks out road to FY24 with 2.4-million production capacity

Maruti Suzuki chairman R C Bhargava says that each year the company, based on workers' suggestions, has saved around Rs 300 crore in costs

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

Switch Mobility aims to be in EV markets around the globe: CEO

Markets will come back after geopolitical turbulence and each company will have to make its own strategy, says Mahesh Babu

Passenger vehicles get a festive high in October; sales see sharp rise

Availability of semiconductor chips, rising consumer confidence contribute to the growth

MG Motor India logs 53% rise in retail sales at 4,367 units in October

MG Motor India on Tuesday reported 53 per cent rise in retail sales at 4,367 units for October 2022. The company had sold 2,863 units in the same month last year, MG Motor India said in a statement. During the month, the company also achieved its highest ever production monthly milestone at 5,008 units, which included 784 units of electric vehicle (MG ZS EV), it added. The company, which had earlier been plagued by chip shortage, said it was able to enhance production due to "some improvement in semiconductor supplies through localisation initiatives". The production uptick has made the commencement of the deliveries of the company's SUV Astor in both continuously variable transmission (CVT) and automatic transmission (AT) variants possible, it added. "The coming weeks should hopefully see some more improvement," it said.

Key Indian auto executives don't understand compliance obligations: Report

Key management personnel in Indian automobile companies have a poor understanding of compliance obligations that can range from several hundred acts to thousands of rules depending on the size of the business, according to a report by TeamLease Regtech. A small automobile manufacturing company operating in a single state in India deals with at least 900 one-time and ongoing compliances in a year. As the company grows its geographical footprint, the number of compliances multiply. In its report 'Simplifying compliance management for automobile industry', TeamLease RegTech, a regulatory technology solutions firm, said with applicability of compliances changing based on location of manufacturing units, use of specific equipment and end-products, most organisations in India find it really challenging to track adherence to the mandatory requirements. "...it was discovered that the KMPs (key management personnel) in Indian automobile companies have a poor understanding of compliance ...

Automakers to double spending on EVs, batteries to $1.2 trillion by 2030

Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis

Automakers to double spending on EVs, batteries to $1.2 trillion by 2030

The world's top automakers are planning to spend nearly $1.2 trillion through 2030 to develop and produce millions of EVs, along with the batteries and raw materials to support that production

Smartphone maker Foxconn unveils electric SUV for Taiwan brand Yulon

The company that assembles smartphones for Apple Inc. and other global brands unveiled an electric SUV on Tuesday that will be produced for a Taiwanese automaker under a similar contract model. Foxconn Technology Group said the SUV will be sold by Yulon Motor as the Luxgen n7 starting next year. It said the five-seat vehicle should be able to travel 700 kilometers (440 miles) on one charge. No price was announced. Foxconn, also known as Hon Hai Precision Industry Co., plans to produce electric cars and buses for brands in China, North America, Europe and other markets. It said clients can modify their appearance and features. The venture adds to a crowded global market with electrics offered by almost every established automaker and dozens of ambitious startups. Hon Hai will certainly redefine the EV industry, company founder Terry Gou said in a statement. Foxconn, headquartered in New Taipei City, Taiwan, is the world's biggest contract assembler of smartphones and other consumer

India's passenger vehicle exports up 2% in Q2, Maruti Suzuki leads: SIAM

Passenger vehicle exports from India increased 2 per cent in the second quarter, with Maruti Suzuki India leading the segment with dispatches of over 1.31 lakh units, as per the latest data by Society of Indian Automobile Manufacturers. The total passenger vehicle (PV) exports stood at 1,60,590 units in the July-September period as compared with 1,57,551units in the same period a year ago. Passenger car shipments saw a 5 per cent dip at 97,300 units while utility vehicle exports rose 16 per cent at 63,016 units during the period under review, data by the Society of Indian Automobile Manufacturers (SIAM) showed. Export of vans declined to 274 units in the September quarter as compared with 297 units in the same period last fiscal year. Maruti Suzuki India (MSI) led the segment during the period, followed by Hyundai Motor India and Kia India at the second and third positions, respectively. MSI, the country's largest carmaker, exported 1,31,070 PVs in the period under review, as comp

Automobile sales in entry level segments remain lukewarm, says SIAM

The sales of two wheelers in Q2 in FY23 at 4,674,000 units still remained below its FY17 levels. But, when compared to Q2 of FY22, it was 13 per cent high

Passenger vehicle wholesales surge 92% in Sep on robust festive demand

Riding on the back of strong festive season demand, passenger vehicle wholesales in India increased 92 per cent to 3,07,389 units last month, as compared to the same month last year, auto industry body Society of Indian Automobile Manufacturers said on Thursday. Passenger vehicle (PV) dispatches from factories to dealerships in September 2021 stood at 1,60,212 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose 13 per cent to 17,35,199 units, as compared to 15,37,604 vehicles in September 2021. Motorcycle sales rose 18 per cent to 11,14,667 units, as against 9,48,161 units in September 2021. Scooter sales were up 9 per cent to 5,72,919 units, from 5,27,779 vehicles a year ago. In the September quarter, PV sales increased by 38 per cent to 10,26,309 units, as against 7,41,442 units in the similar period of the last fiscal. Similarly, total two-wheeler sales rose 13 per cent to 46,73,931 units, as compared with 41,36,4

Bajaj Auto Q2 preview: Ebitda may rise up to 34% YoY, margins seen flat

Bajaj Auto Q2: Brokerages tracking the company expect it to report a double digit sequential growth in net profit on the back of healthy volume-based sales during the quarter

Results preview: Strong operational show to drive Q2 for auto firms

Easing chip supply, demand for premium models and price hikes at play

Auto sales up 57% during Navratri as all categories put up strong show

Overall sales were also 27% higher than Navratri 2020 and 16% above the pre-pandemic season in 2019; trend seen continuing till Diwali

Nissan Motor pushes partner Renault to sell down stake, may raise funds

Asks French firm to cut stake to 15%

Domestic PV sales see record jump in Sept with onset of festival season

The sales figures released by the top nine carmakers saw a jump of 89.6 per cent to 306,211 units

Maruti Suzuki's domestic sales more than doubles to 148,380 units in Sept

The sales of Maruti Suzuki's utility vehicles -- Brezza, Ertiga, S-Cross, XL6 and Grand Vitara -- have increased from 18,459 units in September 2021 to 32,574 units in September 2022

Kia clocks highest ever monthly sales in India in Sept at 25,857 units

The Korean company said its 2021 domestic sales had been surpassed in the first nine months of 2022

Why is it not a good time to buy a car?

Indian auto sector has shrugged off the pandemic blues with fancy models, especially SUVs. But if you are planning to book your car during this festive season, think again. This report tells why