Page 58 - Automobile Industry

Tata Motors, Ducati to hike prices from Jan to offset rising input costs

Tata Motors on Friday said it will hike prices of its entire passenger vehicle range from January in order to offset the impact of rising input costs.

Citroen to hike C5 Aircross SUV price by up to 3% from January

Automaker Citroen India on Tuesday said it will increase price of its premium SUV C5 Aircross by up to 3 per cent from January next year to offset the impact of rising input costs. The effective price increase will be up to 3 per cent on the existing ex-showroom prices of the Feel and Shine variants of the model, the automaker said in a statement. A continued rise in the cost of commodities and ocean freight costs has necessitated this price increase of the vehicle, it added. The price of C5 Aircross currently starts at Rs 31.3 lakh (ex-showroom Delhi). Some carmakers have already announced a hike in vehicle prices from next month such as Maruti Suzuki and luxury automakers Audi and Mercedes-Benz. The country's largest carmaker Maruti Suzuki informed that the price hike planned for January 2022 will vary for different models, while Mercedes-Benz said its hike will be on select models by up to 2 per cent due to feature enhancement and rising input costs. Audi will increase the pri

Supply crisis, market share loss in SUV put Maruti's stock under pressure

Margin improvement for market leader in passenger vehicles may take time, say analysts.

Prolonged waiting period due to chip crunch can harm demand: Maruti Suzuki

Longer waiting periods with semiconductor shortage affecting production can have a negative impact on car demand, although the supply constraints of chips have gradually improved over the last few months, according to a senior official of car market leader Maruti Suzuki India. The company currently has a pending order of around 2.5 lakh units with demand in the market continuing to be buoyant, while its production was over 80 per cent of normal in November. "The bookings show that the demand continues to be quite robust, both in terms of inquiries and the bookings, but now availability is an issue and waiting periods have gone up," Maruti Suzuki India Ltd (MSIL) Senior Executive Director (Marketing & Sales) Shashank Srivastava. He further said, "So we are a little bit afraid that the longer waiting periods will affect the demand pattern and it can have a negative impact." Depending on models and variants the waiting period can range from weeks to months in the domestic passenger ..

India's biggest car dealer Popular plans $100 million listing: Report

Popular is set to be the first Indian auto dealership in a highly fragmented market to list

Honda Cars India reports 31% dip in total sales at 6,904 units in Nov

Honda Cars India Ltd (HCIL) on Wednesday reported a 31 per cent decline in total sales at 6,904 units in November 2021. The company had sold a total of 10,021 units in the same month last year. Domestic sales were at 5,457 units in November 2021 as compared to 9,990 units in the same month last year, HCIL said in a statement. Exports were at 1,447 units last month as against 31 units in the year-ago month, it added. Commenting on the sales performance, HCIL Senior Vice-President and Director-Marketing & Sales, Rajesh Goel said despite consistent demand in the market, supply-side issues owing to the global chip shortage remain a concern. "The company had to resort to non-production days in November 2021 because of the same. We have been selling our entire production stock during the last few months and making all efforts to meet the market demand as much as possible," he added.

Supply chain constraints to dent Maruti Suzuki production levels in Dec

The country's largest carmaker Maruti Suzuki India on Tuesday said its production in December could only be up to 85 per cent of the normal, owing to supply constraint of electronic components

Automobile sales affected in past 2 years due to Covid-19: Govt informs LS

Automobile sales have been affected in the last two years due to the spread of the COVID-19 pandemic, said the Ministry of Heavy Industries in a written reply in Lok Sabha on Tuesday."Sales of automobiles have been affected in the last two years due to the spread of the Covid-19 virus in the country. Production and sales of automobiles have been impacted due to lockdown imposed to contain the spread of the infection," the ministry said.This came after Chellakumar (MP) asked the ministry whether manufacturing of automobiles has been reduced and the automobiles sales have also declined due to the spread of the COVID-19 virus in the country.In a written reply to the measures being taken by the Government to tackle this situation, the ministry said, "The Government, as a policymaker, always attempts to sustain and improve the momentum of the economy through a package of measures for comprehensive and continued development of the sector.""The Government has notified the Production Linked ..

Global automotive sensor market to reach $92 bn by 2026: Report

Driven by sensors that enable automated vehicles and ADAS, the global automotive sensors market is set to grow to over $92 billion by 2026 -- a 30 per cent increase over 2021, a new report showed

Carmakers rethink production strategies to deal with global chip shortage

The shortage, due to supply problems and a surge in demand for consumer electricals during the pandemic, has hit the auto industry hard

UK reports lowest car output since 1956 amid semiconductor chip shortage

A total of 64,729 cars rolled off British production lines, data from the Society of Motor Manufacturers and Traders (SMMT) showed.

Target is to take turnover of auto sector to Rs 15 trn in 5 years: Gadkari

Union Road Transport Minister Nitin Gadkari on Tuesday said that the Centre's mission is to increase the turnover of the automobile industry to Rs 15 lakh crore within the next five years."The current turnover of the automobile sector of the country is Rs 7.5 lakh crore, out of which Rs 3 crore is export. My aim is to make the auto industry to the volume of Rs 15 lakh crore within the next five year, " Gadkari said as he inaugurated Maruti Suzuki and Toyota Tsusho Group's government-approved scrapping in Greater Noida.Recently, Prime Minister Narendra Modi at the COP26 summit said India is aiming for net zero carbon emissions by 2070.Gadkari said that for this purpose, the government was encouraging the usage of CNG, LNG, green hydrogen, ethanol fuels and electric vehicles."Our current import of fossil fuel is currently Rs 8 lakh crores and it will reach Rs 25 lakh crores in the next five years. We are working constantly on the diversification of agriculture towards energy and power ..

Domestic two-wheeler volume to shrink 1-4% YoY this fiscal: ICRA

Domestic two-wheeler (2W) volume is expected to shrink by 1-4 per cent year-on-year this fiscal, impacted by relentless increase in 2W prices as well as record high petrol cost, ICRA has said

Kerala-based Popular Vehicles and Services plans entry in west, north

The company said it will focus more on the services segment of the business rather than sales, going ahead

With supply short, Ford Motor dips toe into computer chip business

Ford Motor Co. is in talks with a computer chip maker to shore up its semiconductor supplies and avoid a repeat of this year's auto factory shutdowns caused by semiconductor shortages.

Tata Motors 'punches' its way to pole position in SUV market in October

Riding on new SUV Punch, it zips past M&M, Hyundai and Kia

Automobile marketplace Droom files Rs 3,000-cr IPO papers

Droom Technology, an online marketplace for automobiles, has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,000 crore through an initial share-sale

Suzuki Motor expects automobile sales in India to decline 6%

Japan's Suzuki Motor Corporation on Thursday said it expects its automobile sales in India to decline 6 per cent year-on-year and has cut its overall global sales forecast for the ongoing fiscal

Maruti Suzuki India to bolster SUV segment, begins work on new models

The company currently sells Vitara Brezza and S-Cross in the SUV segment

Maruti Suzuki drives in all-new version of Celerio at Rs 4.99 lakh

Maruti Suzuki India (MSI) on Wednesday launched the all-new version of its premium hatchback Celerio in the country, priced between Rs 4.99 lakh and Rs 6.94 lakh (ex-showroom Delhi)