Page 71 - Automobile Industry

Indian auto industry expected to see stronger growth in 2021-22: Nomura

The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the COVID-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2023-24, it added. In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM). "After the devastating effects of the COVID-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said. As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2023-24 whereas .

Based on a next generation platform, Volvo S60 retains safety-first focus

Sporty with a muscular sedan-like look and kitted with a petrol engine, the S60 scores big on comfort as far as interiors go

Royal Enfield moves through the gears amid growing competition in market

Competition in the middleweight segment and a growing market for electric bikes pose challenges for dominant two-wheeler player

Indian auto industry expected to see stronger growth in 2021-22: Nomura

The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the COVID-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2022-23, it added. In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM). "After the devastating effects of the COVID-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said. As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2022-23 whereas .

Indian automakers fear container shortage to hit parts supply, output

A global surge in demand for certain goods during the pandemic has upended normal trade flows

Brakes on Civic, CR-V car models: How Honda lost the plot in India

Honda, which is shifting its entire manufacturing facility to Tapukara in Rajasthan, however, says this will help it to rationalise cost and have a better shot at profitability

Nissan to hike prices of all vehicles in India by up to 5% from January

Japanese automaker Nissan on Wednesday said it will hike prices of its vehicles in India by up to 5 per cent across models from next month to offset increased costs. The revised prices will be applicable across all available models for Nissan and Datsun, effective January 2021, Nissan Motor India said in a statement. The company sells a range of mass market vehicles under the Datsun and Nissan brands, including Datsun Redi-Go, newly launched SUV Magnite and Kicks, with prices in the range of Rs 2.89 lakh to Rs 14.15 lakh. Commenting on the price hike, Nissan Motor India Managing Director Rakesh Srivastava said, "In the current challenging market conditions, we are constrained to increase the price of all Nissan and Datsun models due to increased costs. The proposed price increase will be effective from January 2021." Other automobile makers like Maruti Suzuki India, Renault India, Honda Cars, Mahindra & Mahindra, Ford India, Isuzu, BMW India, Audi India and Hero MotoCorp have ...

Honda announces closure of decades-old Greater Noida manufacturing plant

Honda Cars India Ltd (HCIL) on Wednesday formally announced closure of manufacturing operations at its Greater Noida facility in Uttar Pradesh. The automaker said the decision to cease production at the plant, which came up in 1997, has been taken as part of realignment of manufacturing operations with the goal of improving business efficiency. With the closure of Greater Noida facility, HCIL has also discontinued CR-V and Civic models in the country.Both the models were being manufactured at the plant. "To maintain sustainability of operations by leveraging production and supply chain efficiencies, the company has decided to consolidate the manufacturing operations for vehicles and components at its Tapukara plant in Rajasthan with immediate effect for all domestic sales and exports", HCIL said in a statement. All head office functions, India R&D centre and spare parts operations (including warehouse) for automobile, two wheeler and power product business would however continue ..

Apollo Tyres launches portal to foray into online sales space

Apollo Tyres on Tuesday forayed into online sales space with the launch of an e-commerce portal that allows customers in India to buy car and two-wheeler tyres. This will work on the 'buy online, fit offline' model, where consumers can purchase their chosen tyre online and book an appointment with Apollo Tyres' dealer nearest to their location, to get the tyres fitted and serviced, the company said in a statement. The service will be initially available to customers in Delhi-NCR, Bengaluru, Mumbai and Kochi and will soon be expanded to other cities across the country, it added. Commenting on the launch of e-commerce portal, shop.apollotyres.com, Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said the move symbolises the next step in the company's growth journey in India and its commitment to respond to customer needs. "This e-commerce platform will offer the consumers with a seamless online shopping experience, in addition to enabling an ...

Covid-19-battered auto sector drives into 2021 with cautious optimism

Already battered by an unprecedented slowdown before the coronavirus pandemic, the resilience of the Indian auto industry was tested severely when the nationwide lockdown was announced towards March

Covid-19: Auto sector suffered Rs 2,300-cr loss a day, says par panel

The Parliamentary Standing Committee On Commerce, chaired by Telangana Rashtra Samithi (TRS) MP Keshav Rao, has also suggested a slew of measures for attracting investment in the automotive

Audi India gears up to launch new version of A4 sedan next month

The company has already started production of the new car at its Aurangabad plant

Festive demand lifts Nov domestic passenger vehicle sales by nearly 5%: SIAM

India's passenger vehicle sales posted a 4.6 per cent rise in November as the festive season saw a pick up in demand, industry body SIAM said on Friday as it corrected its earlier projection of a shar

Fiat CEO Manley in pole position for top job at Ferrari: Report

Italian newspapers have since speculated on a raft of possible successors

Tata Motors floats VRS scheme to rein in fixed costs; its third in 4 years

The scheme announced on Friday is applicable to all the permanent employees and those employed at the plants

Auto manufacturers stare at supply outages amid shortage of semi-conductors

Mahindra and Mahindra is one of the firms that Bosch counts as a key customer. In a late evening notification to the stock exchange

Ford India to increase prices of vehicles by 1-3% from January

Maruti Suzuki India also announced a planned hike in prices on Wednesday

Long, steady auto demand depends on economy, Covid situation: Maruti Suzuki

Passenger vehicle retail sales in November witnessed a year-on-year rise of 4.17 per cent to 2,91,001 units as Diwali-Dhanteras period led to rise in vehicle registrations

Magnite could be the game changer Nissan is looking for in India

Nissan's latest launch, the Magnite SUV, could potentially redefine its business here

TVS Srichakra to invest Rs 1,000 cr to expand manufacturing capacity

Tyre maker TVS Srichakra Ltd on Tuesday announced a Rs 1,000 crore investment over a period of three years to ramp up its manufacturing capacity. The capital expenditure of Rs 1,000 crore will be used to ramp up manufacturing at its Madurai and Pantnagar plants, the company said in a statement "This investment is planned to be made over a three-year period. The investment, when fully made, will result in an increase in two and three-wheeler tyre capacity by 25-30 per cent and doubling of off-highway tyre capacity from current levels," it added. TVS Srichakra has manufacturing facilities at Madurai in Tamil Nadu and Pantnagar in Uttarakhand with a production capacity of over 3 million tyres a month. Commenting on the planned investment, TVS Srichakra Limited Director S Ravichandran, said, With a wide distribution network in India, growing international presence and building state-of-the-art capabilities in R&D and product development, we are further strengthening our manufacturing .