Page 55 - Automobile Industry

Supply chain worries for auto sector to continue even as demand improves

Industry fears Russia-Ukraine war will further dent recovery prospects as supply chains will be disrupted further

Tata Motors total domestic sales rise 30% to 86,718 units in March

The company recorded the highest-ever annual sales of 3,70,372 units, registering a growth of 67 per cent over FY21

Mahindra & Mahindra total sales up 35% in March to 54,643 units

Mahindra & Mahindra (M&M) on Friday said its total sales increased by 35 per cent to 54,643 units in March as compared with the year-ago period. The Mumbai-based auto major had dispatched 40,403 units in March 2021. The company sold 27,603 passenger vehicles last month in the domestic market as compared with 16,700 units in March 2021. It sold 23,880 commercial vehicles in the domestic market last month as against 21,577 units in the year-ago period. "We continued our growth trajectory in March 2022 with overall sales of 54,643 vehicles, a growth of 35 per cent. Demand continues to be strong, even as we remain watchful of the global supply chain and take appropriate action, as required," M&M CEO (Automotive Division) Veejay Nakra said in a statement. The company's exports last month stood at 3,160 units, up by 49 per cent from 2,126 units in March 2021.

Commodity crisis: Toyota to raise prices by up to 4% from April

"As a committed and customer-centric company, TKM has made all conscious efforts to minimise the impact of rising costs on consumers," said TKM Spokesperson in a statement

Chip shortage forces General Motors to pause production at Indiana plant

The Ft Wayne plant will be closed the weeks of April 4 and 11

BMW India to hike vehicle prices by up to 3.5% from April

The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates, the German automaker said in a statement

Top headlines: Supply chain hit due to Ukraine; FMCG increase products rate

Joe Biden will announce new sanctions against Russia on Thursday while in Brussels. More on that story in our top headlines.

'Humble and hidden' auto suppliers driving electric vehicle revolution

The shift to electric cars may pose an existential threat to suppliers of combustion engines but for auto parts firms such as TE Connectivity the challenge is keeping up with demand

Auto Expo to be held from January 13-18 next year

It was supposed to take place in February this year at Greater Noida but was postponed due to the worsening COVID-19 situation

Mahindra & Mahindra to increase stake in Carnot Technologies to over 53%

Mahindra & Mahindra Ltd on Wednesday said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet connected devices for monitoring performance of vehicles and equipment, the company said in a regulatory filing. The company will make a primary infusion of approximately Rs 2.5 crore for subscription of 1,613 Series C CCCPS (cumulative compulsorily convertible preference shares) of Carnot of Rs 100 each at a premium of Rs 15,391.65 per CCCPS. Further, it will have a secondary purchase for approximately Rs 11.5 crore of 7,423 equity shares of Rs 10 each at a premium of Rs 15,481.65 per equity share, the filing added. On the reasons for the acquisition, M&M said, "Carnot is expected to support the company's strategy by developing information technology solutions for its ...

Two-wheeler companies target nine-fold increase in electric vehicles

Top Indian two-wheeler companies are ramping up new capacity to hit over six million per annum by the calendar year 2023 to meet the anticipated demand for electric vehicles

Automobile dispatches decline 23% as supply-side challenges continue: SIAM

Wholesale of domestic passenger vehicles, two-wheelers and three-wheelers declined 23 per cent to 1,328,027 units last month, compared with 1,735,909 units in February 2021

Automobile dispatches dip 23% in Feb as supply challenges continue: SIAM

Automobile dispatches from factories to dealerships declined 23 per cent in February, as various supply-side challenges, including semiconductor shortage, industry body SIAM said

Chinese automaker SAIC's MG Motor India to raise funds for EV push: Report

'MG Motor India has yet to finalise how much money it plans to raise, which will depend on the valuation of the Indian business and its growth plans'

Japan's Renesas, Tata Elxsi partner in EV design centre

The centre in Bangalore will be a new hub for the two companies to develop crucial EV systems, such as battery management systems and motor control units

Ford set to announce plans to run EV, ICE as separate businesses: Report

The two units will have separate names but will remain under the Ford corporate umbrella.

Chip woes continue to hobble auto dispatches in Feb; TaMo, M&M buck trend

Leading carmakers Maruti Suzuki, Hyundai, Toyota and Honda witnessed a drop in vehicle dispatches to dealers last month as the global semiconductor shortage continued to impact production. Tata Motors, Mahindra & Mahindra, Skoda and MG Motor, on the other hand, reported an increase in wholesales in February as compared to the same month last year. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021. "The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact," the auto major noted. Sales of the company's mini cars, comprising Alto and S-Presso, fell 17.81 per cent to 19,691 units last month as compared to 23,959 in the same month last year. Similarly, dispatch of compact models like Swift, Celerio, Ignis, Baleno and Dzire dipped 3.38

M&M total sales jump 89% in Feb to 54,455 units, PV sales rise 80%

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89 per cent to 54,455 units in February. The company's total sales stood at 28,777 units in February 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 80 per cent to 27,663 units last month as against 15,391 units in February last year, the auto major said in a statement. Commercial vehicle sales increased to 23,978 units last month as compared with 11,559 units in February 2021. The company said its exports last month stood at 2,814 units as against 1,827 units in the same month last year. "All segments showed robust growth including SUVs at 79 per cent, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. "We continue to closely monitor the semiconductor-related parts supply and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra noted.

Hyundai Motor Feb sales fall 14% to 53,159 units, exports down 10.7%

The company had sold 61,800 units in the same month last year, Hyundai Motor India said in a statement

Automakers oppose six airbag rule, cite constraints on domestic capacity

Industry is now in discussion with MoRTH to reconsider the rule pointing out that there is no country where such a regulation is mandated