Page 72 - Automobile Industry

M&M to manufacture K2 tractor series in Telangana; to invest Rs 100 cr more

Mahindra & Mahindra Ltd (M&M) on Tuesday said it will manufacture its new tractor series K2 exclusively at its Zaheerabad facility in Telangana, where it will bring incremental investments of Rs 100 crore and double employment in the plant by 2024. The new K2 series is Mahindra's most ambitious light-weight tractor programme. It has four platforms and the company will introduce 37 models in various horsepower (HP) ratings for domestic and international markets, including the US, Japan and South East Asia, M&M said in a regulatory filing. The new tractor series has been developed through close collaboration between the engineering teams from Mitsubishi Mahindra Agricultural Machinery of Japan and Mahindra Research Valley, India. "The new series will enable Mahindra to introduce products across four new tractor platforms, in the sub-compact, compact, small utility and large utility tractor categories, covering 37 models across various HP points," it said. M&M Executive ..

Maruti launches round 5 of Mobility & Automobile Innovation Lab initiative

The country's largest carmaker Maruti Suzuki India on Tuesday announced the fifth round of its 'Mobility & Automobile Innovation Lab' (MAIL) initiative, inviting entries from early startups in mobility and automobile space. So far, the company has collaborated with 18 startups selected in the previous four rounds of the MAIL programme, Maruti Suzuki India (MSI) said in a statement. Commenting on the initiative, MSI Managing Director & CEO Kenichi Ayukawa said, "As a next step, in the fifth cohort, we look forward to engage with more startups with innovative ideas for the automobile industry. Entrepreneurs with disruptive ideas, especially in light of the ongoing pandemic situation, can apply for the fifth cohort of our MAIL initiative". The MAIL programme has completed two years of collaborating and promoting the startup fraternity, he said, adding "We have successfully engaged with 18 startups and have enabled 10 POCs (proof of concepts)". Launched in January 2019, MAIL ...

Govt to launch PLI schemes for 10 sectors in 45 days. Is it overambitious?

By setting a deadline of 45 days for extending the scheme to 10 industries, the government may be ignoring the critical demands of the targeted industries

Faster recovery in CV segment remains key for Ashok Leyland stock

Despite increase in freight rates, operator profitability yet to reach normal levels

CV sales pick up but analysts don't bet on manufacturers' optimism

The recovery in core industries and resultant manufacturing output have increased freight demand for transporters, which in turn has supported CV sales

Auto firms welcome PLI scheme as sector gets lion's share of incentives

Rs 57,000 cr provided to auto components and automobiles, as compared to other sectors like advanced cell chemistry battery, pharma, food products, and white goods

Passenger vehicle retail sales dip 9% in October on supply woes: FADA

Automobile dealers' body FADA said passenger vehicle retail sales in October witnessed a year-on-year decline of 8.8% to 249,860 units, as registrations slowed down owing to supply issues

Tata Motors aims to have widest portfolio of SUV in domestic market

The company is now gearing up to roll out two new models in the portfolio

Honda doubles full-year profit forecast, boosted by China rebound

Honda more than doubled its full-year operating profit forecast as its second-quarter earnings grew 28% amid a rebound in China after auto sales were squeezed by the impact of the coronavirus pandemic

Indian carmakers improve safety but yet to reach international levels

India wasn't applying widespread crash testing like foreign countries do, so manufacturers didn't see the need for an investment focus on safety

India doing well on climate change; on path to meet Paris Agreement targets

In recent weeks, three countries in Asia have announced their intention to move towards a "net-zero" emissions target: South Korea (2050), Japan (2050) and China (2060)

Automakers agree to offer discount of 1% if old vehicle scrapped

PMO bats for incentivising scrapping, not imposing it on owners of old vehicles

VECV registers a 11.9% increase in sales to 4,200 units in October

VE Commercial Vehicles, a Volvo Group and Eicher Motors joint venture reported an 11.9% rise in sales for October at 4,200 units

Ashok Leyland commercial vehicle sales rise 1% in October to 9,989 units

Hinduja flagship firm Ashok Leyland reported 1% increase in total commercial vehicle sales to 9,989 units in October

Covid-19 impact: Maruti Suzuki's price realisation at 7-quarter low

Firm attributes dip in average selling price to sales of more small cars and exit from diesel

TVS will grow faster than industry both in domestic and global markets: CEO

Company confident on maintaining EBITDA growth momentum on the backdrop of better product mix, cost management and exports

Pent-up demand, rural growth bring Maruti Suzuki back in recovery lane

The company remains cautious on full-fledged recovery, given concerns over a second wave of Covid-19

Japan automakers post 2.1% dip in Sep global sales on subdued demand

Japanese automakers saw a 2.1% drop in global vehicles sales in September compared with a year earlier as the coronavirus pandemic continued to hurt demand even as factories and dealerships reopen

VW recalls over 218,000 Jettas to fix fuel leaks that can cause fires

The recall covers certain cars from the 2016 through 2018 model years

Festive boom: Mercedes-Benz delivers 550 cars during Navratri, Dussehra

German luxury carmaker Mercedes-Benz on Monday said it delivered 550 cars during Navratri and Dussehra thus driving into a robust festive season. The deliveries were in Mumbai, Gujarat, Delhi NCR and other Northern markets. The festive season deliveries in the Delhi-NCR region stood at 175 units and there is anticipation of strong demand for upcoming Diwali and Dhanteras period, Mercedes-Benz India said in a statement. Commenting on the performance, Mercedes-Benz India Managing Director & CEO Martin Schwenk said, "the festive season this year has begun on a very strong note and we are glad to witness this positive customer sentiment." He further said, "this impressive number of deliveries makes us confident of a good festive season and firmly underlines the trust and confidence that luxury car buyers have on Mercedes-Benz brand and products." On the outlook, he said, "we are confident of further driving this momentum for the rest of the festive period and the quarter. We have an .