Page 62 - Automobile Industry

Salaries rise for promoters of auto firms even as business faces headwinds

Experts suggest that promoter executives should take compensation as dividend to share risk and reward of the business with other shareholders

Mercedes-Benz launches AMG GLE 63 S 4MATIC+ Coupe at Rs 2.07 crore

German luxury carmaker Mercedes-Benz on Monday launched its all-new performance car 'AMG GLE 63 S 4MATIC+ Coupe' priced at Rs 2.07 crore (ex-showroom all India). The model is powered by a 4-litre engine, which produces a power of 612 hp. It is the 12th model available in India from the AMG performance car range of the company, Mercedes-Benz India said in a statement. Commenting on the launch, Mercedes-Benz India Managing Director & CEO Martin Schwenk said, "AMG portfolio remains the fastest-growing segment for us and the launch of the 'AMG GLE 63 S 4MATIC+ Coupe' reinforces our strong presence in the luxury performance segment". The model is also equipped with a 48-volt hybrid system that produces an additional 22 hp of output. The all-wheel-drive vehicle is capable of accelerating from 0-100 km/hr in just 3.8 seconds and can reach a top speed of 280 km/hr, the company said. It has safety features like airbags all around the cabin, blind spot assist, active brake assist, 3-stage .

Tata Motors to launch mini SUV 'Punch' this festive season

Homegrown auto major Tata Motors on Monday said it will launch its mini SUV Punch in the ongoing festive season. Punch is based on the H2X concept, which Tata Motors had showcased at the Auto Expo 2020. It will be positioned below the company's compact SUV Nexon and is expected to hit the market around Diwali this year. Slated for "national launch this festive season", Tata Motors in a statement said Punch will offer a mix of "tough utility with sporting dynamics". It, however, did not disclose further details. Tata Motors President Passenger Vehicle Business Unit Shailesh Chandra said, "Tata PUNCH, as the name suggests, is an energetic vehicle with a capability to go anywhere". He further said, "True to the SUV genes of all Tata Motors' products and catering to the needs of customers, who are looking for a compact city car with pure SUV characteristics, Punch will be the fourth addition to our SUV family, widening the range of options for all to choose from". It is the first SUV

Honda Cars ties up with Canara Bank to offer finance options to customers

Honda Cars India Ltd (HCIL) on Monday said it has joined hands with Canara Bank to offer retail finance schemes to customers. The partnership facilitates HCIL customers to avail easy financing options and hassle free car loans from Canara Bank for purchase of models like Amaze, City, Jazz and WR-V, the company said in a statement. Special schemes for the auspicious festivities have also been offered to make this buying season even more attractive and rewarding, it added. The automaker said it has been partnering with multiple banks to offer such schemes across the country with a special focus on semi-urban to rural regions. The partnership with Canara Bank is an extension of our efforts towards enabling easy and convenient financing solutions for our customers. We always endeavour to enhance customer experience right from the point of purchase through years of car ownership. "We are confident that the tie-up with Canara Bank will help us meet the diverse finance requirements of ou

Covid-fuelled semiconductor crunch chips away at carmakers

After being forced to close plants last year as the pandemic took hold, carmakers are now facing stiff competition from the sprawling consumer electronics industry for chip deliveries

HMSI drives in all new bike CB200X, tagged at Rs 1.44 lakh

Honda Motorcycle and Scooter India (HMSI) on Thursday launched an all-new model CB200X in the country, tagged at Rs 1.44 lakh (ex-showroom Gurugram). The new model is a carefully crafted machine for everyday usage as much as it is for exploring the roads less travelled, the two-wheeler major said. "Keeping in mind the evolving lifestyle of the Indian youth, the urban explorer - CB200X gives today's youngsters a riding experience that pushes them to explore more. Built to excite riders, CB200X offers a perfect riding companion for their daily city rides and short weekend getaways beyond the cityscapes," HMSI Managing Director, President & CEO Atsushi Ogata said. The bike comes powered by a Bharat Stage-VI compliant advanced 184 cc engine. Other features include an all-LED lighting setup, fully digital liquid crystal meter, and split seat, among others. HMSI Director, Sales & Marketing, Yadvinder Singh Guleria said the CB200X is a classic urban explorer at heart developed for ...

Volkswagen says might have to cut production further due to chip shortage

Volkswagen may need to cut production further due to a semiconductor supply bottleneck, the German carmaker said on Thursday.

High fuel prices shifting demand for diesel models: Hyundai official

Leading automaker Hyundai India on Wednesday said that skyrocketing prices of fuel in the country is increasing the demand for diesel models for the company. Director (sales and marketing) of Hyundai India Tarun Garg said diesel models are 30 per cent more fuel-efficient than the petrol versions which is causing the rise in demand in favour of the former. Speaking to reporters at Domjur in Howrah district, Garg said "Hyundai is concerned about the rise in fuel prices. But since diesel models are 30 per cent more fuel-efficient than petrol versions, there is a hike in demand for the former". He said though 2021 faced the second wave of the pandemic, sales are now back to normal to pre-Covid levels. However, the company is wary of a possible third wave, the official said Garg said that demand for SUVs is going up and Hyundai's share of this category to overall sales is 47 per cent. According to him, Hyundai's market share last year was 17.4 per cent, the highest ever in the company

Honda drives in new Amaze with price starting at Rs 6.32 lakh

Honda Cars India on Wednesday said it has launched an updated version of its compact sedan Amaze in the country, priced between Rs 6.32 lakh and Rs 11.15 lakh (ex-showroom Delhi).

Court asks Renault-Nissan to pay workers $9.5 million interim dues

Workers at the Renault-Nissan plant in Chennai filed an industrial arbitration suit demanding 20,000 rupees as a monthly interim settlement after the expiry of a previous wage agreement in March 2019

Tata Motors lines up new models, looks to enhance sales infrastructure

Tata Motors plans to drive in new models, expand sales network as it aims to maintain its double digit market share in the highly competitive domestic market, as per a top company company official

Vehicle scrappage policy will promote circular economy, says PM Modi

Modi launched the National Automobile Scrappage Policy and said the initiative will promote a circular economy and make the process of economic development more sustainable and environment-friendly

Passenger vehicle sales in India rise 45% in July to 264,000 units: SIAM

Passenger vehicle wholesales in India increased by 45 per cent to 2,64,442 units in July against 1,82,779 units in the same month last year, auto industry body SIAM said on Thursday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches from the OEMs to dealerships declined by 2 per cent to 12,53,937 units in July, compared to 12,81,354 units in the year-ago period. Motorcycle sales were at 8,37,096 units last month as against 8,88,520 units in July 2020, down 6 per cent. Scooter sales increased 10 per cent to 3,66,292 units from 3,34,288 units. Similarly, three-wheeler sales surged 41 per cent to 17,888 units last month as against 12,728 units a year ago. The total sales across categories, excluding commercial vehicles, stood at 15,36,269 units compared to 14,76,861 units in July last year.

Mahindra recalls 29,878 pick up vehicles to replace faulty fluid pipe

Mahindra & Mahindra (M&M) on Tuesday said it is recalling 29,878 units of its pick up vehicles to replace faulty fluid pipe amid suspicion of improper assembly. The company has announced a proactive inspection and replacement of a fluid pipe in some of the pick up vehicles manufactured between January 2020 and February 2021 for suspicion of improper assembly, M&M said in a regulatory filing. The recall is limited to a batch of 29,878 vehicles and is keeping in line with the company's customer-centric approach, it added. "The inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company. In an endeavour to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity," the auto major said. The action is also in compliance with voluntary code on vehicle recall. Last month, the company announced undertaking a proactive inspection and replacement of diesel

MG Motor launches seven-seater Gloster trim tagged at Rs 37.28 lakh

MG Motor India on Monday launched a seven-seater version of its SUV Gloster Savvy tagged at Rs 37.28 lakh (ex-showroom). The new variant of the SUV would strengthen the Gloster range and provide customers with the power to choose from a broader range of variants. The automaker currently sells the model with six-seat configuration. "We are introducing the Gloster Savvy with a 7-seater configuration in response to requests from our customers. With this addition to the existing Gloster Savvy with 6-seater configuration, we are offering our customers the power to choose a vehicle as per their needs and preferences," MG Motor India Chief Commercial Officer Gaurav Gupta said in a virtual launch event. Under the hood, the new Gloster Savvy trim, like its six-seat counterpart, comes with a two-litre twin turbo diesel engine generating 200 PS power and 480 Nm of peak torque. It features multiple driving modes enabled with Advanced Driver Assistance System (ADAS) and a BorgWarner Transfer c

CarTrade Tech IPO: Here's why brokerages suggest subscribing to the issue

CarTrade is an electronic exchange focusing on auto sector and thus there is no peer company having similar business operations

500 EV models now: Two-thirds of global car sales will be electric by 2040

If any country is going to meet its net-zero emissions targets in the next 30 years, more needs to be done to clean up road transportation

As technology evolves, flying cars finally get ready to take off

The interest in such vehicles is driven by e-commerce penetration and the popularity of ride-hailing. The pandemic has also led to a new focus on personal transport

Volvo Car India commences 24x7 customer support service across country

Volvo Car India on Thursday said it has initiated a 24x7 customer support service for its customers in the country

You won't see Teslas in India anytime soon: Elon Musk will tell you why

The country's age-old, protectionist instincts have kept out international auto companies for decades.