Page 66 - Automobile Industry

Low base, recovery in demand to drive up auto firms' Q4 earnings

Recovery in the African and Latin American markets should help exporters post better growth than the domestic market

Financiers buy into India's used car business amid uptick in demand

An expansion of demand driven by economic uncertainty has accelerated the plans of organised players to tie up with banks and NBFCs

India auto sales down 13%, industry retreats by six years in pandemic

Companies sold a total of 18,615,588 of automobiles in FY21, lowest since FY15: Association.

Can EV manufacturer Tesla win India? Most US carmakers have failed

Most American car-makers have failed in making their gambit one to watch

Mahindra to invest Rs 3,000 cr on electric vehicle business in next 3 years

Mahindra & Mahindra Ltd will put in fresh investments to the tune of Rs 3,000 crore on its electric vehicles business in the next three years, while it looks for more alliances and partnerships in the vertical, according to a top company official. M&M is working on developing on an EV platform by combining capabilities of its operations across the globe, including Detroit and Italy. "So, for EVs we are going to invest Rs 3,000 crore additional to what we have talked about," Mahindra Group Managing Director and CEO Anish Shah told PTI. Mahindra & Mahindra Ltd had earlier said it was investing Rs 9,000 crore in auto and farm sectors in the next five years. The company, which has set a goal of putting 5 lakh electric vehicles on Indian roads by 2025, has already invested Rs 1,700 crore in the EV business in India with another Rs 500 crore on a new research and development (R&D) centre. While it has already opened its electric technologies plant in Bengaluru that produces .

French carmaker Citroen drives into India with Rs 29.9-lakh C5 Aircross SUV

In a first, company to deliver car at customer's doorstep from the factory

Steady rise in metal prices is a big risk for the automotive industry

Analysts expect more pain for automakers since prices of steel and non-ferrous metals, such as copper, aluminium, and zinc, have increased further in three months

Best of BS Opinion: The GST puzzle, infecting public health, and more

Here's a selection of Business Standard opinion pieces for the day

Citroen C5 Aircross SUV set to launch today: Here's all you need to know

The 5-seater premium SUV can be ordered online or through Citroen's dealership.

Brake on diversification

M&M must focus on reviving its core automotive division

Triumph Trident 660 set for India launch today: Check details here

The booking for Triumph's middle-weight street bike started in November 2020 and it will be available in India roads after April 6

Low base, recovery in demand drive March auto sales into fast lane

Maruti Suzuki, India's largest carmaker, reported a near 100 per cent jump in sales in March at 167,014 units against just 83,792 units last year

Honda Motorcycle & Scooter India posts 395,037 unit domestic sales for Mar

Honda Motorcycle & Scooter India (HMSI) on Thursday reported domestic sales of3,95,037 units in March this year. The company had sold 245,716 units in the same month last year when sales were impacted by coronavirus-induced lockdown. Exports stood at 16,000 last month, HMSI said in a statement. The company said it closed FY21 with total sales of 4,073,182 two-wheelers, including domestic sales of 38,65,872 units and exports of 2,07,310 units. HMSI Director (Sales and Marketing) Yadvinder Singh Guleria said, "FY2020-21 was a year of unprecedented uncertainties. Honda resiliently overcame challenges from lockdowns to unlocks.

Volkswagen confirms it will rebrand its US unit as 'Voltswagen'

The revised name takes effect in May and the announcement came after several outlets on Monday reported on a draft release mistakenly posted on the automaker's US website.

TVS Automobile Solutions revs up for the automobile aftermarket

With the acquisition of Mahindra First Choice, the subsidiary is driving its pan-India presence with tech solutions and tie-ups

India a potential market for Panamera sedan: Porsche

Luxury sports car maker Porsche has said India is a potential market for its recently-launched new-generation Panamera sedan even as its focus will remain on all models across segments. Porsche India also said the launch of the new-format showrooms in Delhi and Mumbai in a short span of three months exhibits investors' confidence in its business here despite the pandemic. The company, part of the German auto giant Volkswagen group, last month rolled out the 2021 edition of Panamera in four variants -- Panamera, GTS, Turbo S, and Turbo S E-hybrid, priced between Rs 1.45 crore and Rs 2.43 crore (both ex-showroom). After setting up its first Porsche Studio in Delhi in January, the company opened another one in Mumbai earlier this week under a new dealer partner Infinity Cars Pvt Ltd, a luxury car dealership group, which represents a variety of marquee brands across different cities. "For sure, India can also become a Panamera market in future. It is also one important segment which we

Car buyers in India moving up value chain despite salary cuts, job losses

Maruti Suzuki India (MSIL), the market leader, has seen the contribution of mid- and top-end variants as the percentage of a model's sales mix goes up

Toyota Kirloskar to hike vehicle prices from April to offset input cost

The increase is necessitated to offset the substantial increase in input costs, it added

Tesla's Chinese rival Nio suspends production on chip shortage

Top automakers such as Ford, Honda, GM and Volkswagen were caught off guard by the shortage even as auto demand picked up during the Covid-19 pandemic

Used car market sees a continued interest from buyers amid Covid-19

2020 saw incremental growth for 1st-time car buyers, category up 3% for Maruti