Page 61 - Automobile Industry

Automakers expect better festive season even as chip shortage lingers on

Leading automakers Maruti Suzuki, Toyota Kirloskar Motor and Mahindra & Mahindra expect sales to be better this festive season compared to last year even as the chip shortage continues to make situation challenging with companies struggling to sustain production schedules. The festive season, which began with Onam, culminates with Diwali celebrations in November. Automakers have witnessed robust demand so far and are now looking to spruce up supplies to dealers in order to serve customers during the peak of festive period in October. "At the moment demand looks ok. It is slightly better than last year. If we look at the bookings, enquiries, retails, these are robust. On the supply side of course we may have some adverse effects, we are monitoring that," Maruti Suzuki India (MSI) Senior Executive Director Shashank Srivastava told PTI. The company would intend to build sufficient inventory before Navaratras to serve the spike in demand, but of course it all depends on the ...

Riding on robust sales, iconic Royal Enfield hits the global road

After facing shareholder heat last month, how has Lal's gamble to take the brand international fared?

Govt revamps incentives for autos to boost EVs, hydrogen fuel cells: Report

India has revised its proposed $8 billion scheme for the auto sector which will now focus on incentivising companies to build electric and hydrogen fuel-powered vehicles

Royal Enfield launches all new Classic 350 tagged at Rs 1.84 lakh

Royal Enfield on Wednesday said it has launched an all new version of Classic 350 motorcycle in the country with price starting at Rs 1.84 lakh (ex-showroom Chennai). In 12 years and more than three million motorcycles later, the Classic has built a legacy of its own, and the new Classic 350 is all set to take this legacy ahead, the company, which is a part of Eicher Motors, noted. "The Classic 350 launched in 2008, was a modern and capable motorcycle that symbolized the timeless post-war styling from the heydays of the British motorcycle industry. "Its captivating design language and simplicity coupled with dependability, catapulted the Classic to global popularity, and it went on to redefine the middleweight (250-750cc) motorcycle segment," Eicher Motors MD Siddhartha Lal said. The company so far has been consistent in its pursuit to build timeless, classic, beautiful motorcycles that are great fun to ride, and the new Classic 350 does just that, he added. "Built ground-up, on o

Skoda Auto India posts nearly four-fold jump in sales at 3,829 units in Aug

Skoda Auto India on Wednesday reported a nearly four-fold jump in sales at 3,829 units in August 2021. The company had sold 1,003 units in the same month last year, Skoda Auto India said in a statement. While the newly launched SUV Kushaq has fueled the growth for the brand in India, other models such as Superb, Octavia and Rapid have also contributed to the increase in sales volumes, it added. Commenting on the sales performance, Skoda Auto India Brand Director Zac Hollis said, "Our August sales have grown significantly and reflect the increasing popularity of the Skoda brand in India. This market is important for the global growth ambitions of the brand and we have a detailed strategy to strengthen our presence here." He further said, "Along with our focused product strategy, we have taken several measures towards building a strong bond with our customers and improving the overall brand experience." The company said with the roll out of its 'India 2.0' strategy, which began with

Hyundai Motor India reports 12% rise in sales in August at 59,068 units

Hyundai Motor India Ltd (HMIL) on Wednesday reported a 12.3 per cent increase in total sales at 59,068 units in August.

Maruti Suzuki to slash output in September by 60% over chip shortage

Closure of Bosch plant in Malaysia hurt production in September

Maruti Suzuki sees production impact from semiconductor shortage

India's top car maker Maruti Suzuki expects production at its plants in the states of Haryana and Gujarat to be impacted in September due to a shortage of semiconductors, it said on Tuesday.

'It'll be mandatory for automakers to offer biofuel vehicles in 6 months'

Union Minister Nitin Gadkari on Tuesday said India will make it mandatory for auto manufacturers to offer vehicles running 100 per cent on bio-fuels in the next six months

30 kph max: Paris shrinks speed limit to protect climate

It's the latest initiative by a city trying to burnish its climate credentials and transform people's relationship to their vehicles

Pent-up demand to push auto dealer volumes up by 10-15% in FY22: CRISIL

Festive season sales and pent-up demand along with new launches are expected to push automobile dealers' volumes up by 10-15 per cent in FY22, even as they see a patchy recovery this fiscal: CRISIL

Maruti Suzuki to hike prices across models from Sept as input costs rise

The country's largest carmaker Maruti Suzuki India on Monday said it will hike prices across models from next month amid rising input costs.

Indian Motorcycle expects to garner 25-30% share in India's premium segment

Indian Motorcycle is seeking to replicate the growth in India which it has witnessed in other global markets, and expects to garner 25-30 per cent market share in the premium motorcycle segment

Automobile industry stuck in a low gear

The Indian automobile industry is going through a rough patch. And the crisis seems to run deep. Get the real picture of the state of affairs through this video. Watch it

Auto parts industry may see 20-23% jump in revenue this fiscal: Report

The auto components industry is expected to log 20-23 per cent revenue growth during this fiscal, supported by recovery in the domestic automobile sector and robust exports, with all segments (passenger vehicles, two-vehicles and commercial vehicles) likely to report healthy double-digit growth in 2021-22, credit ratings agency ICRA said on Thursday. However, prices of key commodities and shortage of semi-conductors remain the key concerns for the industry, it said. The domestic auto component industry has seen a smart recovery during the first quarter of this fiscal, driven by strong exports and revival of domestic demand in June, ICRA said in a statement. Most domestic automobile segments, especially passenger vehicles (PVs) and tractors, continue to witness strong demand and are almost at pre-COVID-19 levels. Even the M&HCV (medium and heavy commercial vehicle) segment, which was impacted during the April quarter, is also now showing signs of recovery, it said. ICRA's sample ..

India offers huge opportunities for vehicle manufacturers: Nissan COO

India offers huge opportunities for vehicle manufacturers and electrification is the pillar that could transform the country's automotive industry, Nissan Motor Corporation COO Ashwani Gupta said

Boost localisation of automotive parts, reduce import dependency: Kant

The Indian automobile and components industry must eliminate its import dependence on China for a host of automotive parts and must focus on localisation of such items, Niti Aayog's Amitabh Kant said

R C Bhargava, Venu Srinivasan face off with govt on auto GST rate

Sales of commercial vehicles in FY21 were the worst in 11 years; for three-wheelers, they were the lowest in 19 years

Nitin Gadkari urges vehicle makers to discourage diesel engines

Union Road Transport and Highways Minister Nitin Gadkari on Wednesday asked vehicle manufacturers to discourage production and sale of diesel engine vehicles, and urged them to promote other technologies. Addressing industry body SIAM's annual convention virtually, Gadkari said the government is committed to delivering vehicles with flex engines that give the users an option to run a vehicle on either 100 per cent petrol or 100 per cent bio-ethanol. "I appeal the vehicle manufacturers to discourage the production and sale of diesel engine vehicles. Diesel-based pollution is extremely hazardous to the environment and human health. "The industry must promote alternative fuel technologies and fund R&D (research and development) for alternative fuels," he said. The minister said he is looking forward to the industry for quick roll-out of E20-compatible vehicles. E20 is a blend of 20 per cent ethanol and 80 per cent petrol. "This will be immensely helpful in cutting our import bill an

Keep pace with changing technology: Revenue Secretary to automakers

Tarun Bajaj asked automakers to do a deeper analysis on why car sales are not going up even though income levels of people are rising, and exhorted the industry to keep pace with changing tech