Page 59 - Automobile Industry

M&M Q2 standalone net surges over 8-fold to Rs 1,432 cr; revenue rises 15%

Homegrown auto major Mahindra & Mahindra (M&M) on Tuesday reported an over eight-fold increase in its standalone profit after tax (PAT) at Rs 1,432 crore for the second quarter ended September 30, 2021, riding on the back of robust sales. The Mumbai-based company had posted a standalone PAT of Rs 162 crore in the July-September period of previous fiscal. Revenue for the second quarter rose by 15 per cent to Rs 13,305 crore as against Rs 11,590 crore in the year-ago period, M&M said in a regulatory filing. The company said it sold 99,334 vehicles during the period under review, up 9 per cent from 91,536 units in the second quarter of last fiscal. M&M tractor sales however declined by 5 per cent to 88,920 units in the second quarter as against 93,246 units in the year-ago period. On a consolidated basis, the Mahindra Group reported a PAT of Rs 1,929 crore as compared with Rs 615 crore in the Q2 of 2020-21. Revenue rose to Rs 21,470 crore in the second quarter as ...

On track to record high double-digit sales growth in 2021: Hyundai

The shift towards personal mobility has really helped, Hyundai Motor India Ltd (HMIL) Director (Sales, Marketing, Service) Tarun Garg told PTI in an interaction

European automakers say magnesium shortage not a problem, for now

Part manufacturers supplying automakers with key components are heavily reliant on magnesium, which can be used by itself or combined with aluminium to reduce the weight of cars

Persistent increase in commodity prices to hurt margins: Apollo Tyres

Firm says it needs 20-25 per cent price hike to offset increase in input costs

Current festive season worst in decade: Automobile dealers' body FADA

The industry body said the chip shortage situation has impacted offtake in the passenger vehicle segment

Volvo India MD Interview: Kamal Bali on glide path to net-zero target

How does Volvo India plan to reduce emissions and achieve the net-zero target? In this exclusive interview with Jyoti Mukul, Volvo India MD Kamal Bali talks about this and more

High taxes hampering growth of luxury car segment in India: Audi

A high taxation regime is restricting growth of the luxury car segment in India and the government should look at lowering the levies in order to help the sector grow, according to automaker Audi

Toyota Kirloskar reports 1% increase in October domestic wholesales

Toyota Kirloskar Motor (TKM) on Sunday reported a 1 per cent increase in domestic wholesales at 12,440 units in October as compared to the year-ago period

Registration of electric vehicles picking up pace in Delhi: Officials

Adoption of electric vehicles is picking up pace in Delhi with the count of such vehicles surpassing the total number of registrations of CNG and hybrid-fuel vehicles in the city in the recent months

Mercedes-Benz rolls out new format of retailing cars in India

German luxury carmaker Mercedes-Benz on Friday rolled out its new format of retailing cars in India with a 'direct to customer' model, under which it will own now the entire stock of new cars for sale

Astor clocks 5,000 orders in 20 minutes of opening bookings: MG Motor India

MG Motor India on Thursday said it has sold out its new SUV Astor for this calendar year clocking 5,000 orders within 20 minutes of opening bookings.

BMW drives in 5 Series M Sport Carbon Edition tagged at Rs 66.3 lakh

Locally produced at the company's Chennai-based manufacturing plant, the new variant can be booked online from today onwards.

Tata Punch goes on sale from today, will soon get an electric version too

The latest model aims to wean buyers off hatches and compact sedans

Navratri sales: Chip shortage dents PV retails, 2-wheelers see weak demand

High acquisition cost dissuades motorcycle and scooter buyers this festive season, while carmakers have been unable to cater to the demand owing to chip shortage

Tata Motors: In advanced stages to raise $1 billion for EV biz - Report

Tata Motors fund raising has attracted multiple private equity funds from the US, Middle East and Southeast Asia for for EV business.

Auto registrations drop 5.27% YoY in Sept, decline sharper over 2019: FADA

YoY decline during the month was mainly due to an 11.5% and 23% drop in two-wheelers and tractor sales, respectively

Mahindra XUV 700 gets 25,000 bookings in 57 minutes, equaling 6-mth output

Fastest for any four-wheeler model, claims M&M; bookings to restart at 10am on Friday

BMW group sales cross 100,000 units sales since entry 14 years ago

Despite challenges from second Covid wave, BMW India has sold 70 per cent more luxury vehicles at over 9,600 units at group level across its three brands during first nine months of year

India to introduce flexible fuel vehicles soon to increase ethanol use

India will introduce flexible fuel vehicles soon as the country is aiming to achieve 20% ethanol-blending with gasoline by 2025, transport minister Nitin Gadkari told the Reuters Impact conference

A hot hatch, Hyundai i20 N Line could challenge Polo GT's dominance

The i20 N Line could challenge Polo GT's dominance in the segment