Page 76 - Automobile Industry

Covid-19 impact: Hero MotoCorp Q1 net profit falls 95% to Rs 58 crore

The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal

Maruti Suzuki's Alto crosses cumulative sales milestone of 4 million units

The country's largest carmaker Maruti Suzuki India Ltd (MSIL) on Thursday said its entry level small car Alto has crossed the cumulative sales milestone of 40 lakh units. Launched in September 2000, Alto has been the best most selling car for 16 consecutive years in India, the company said in a statement "Alto is the preferred choice of Indian car buyers with 76 per cent of Alto customers choosing it as their first car," it added. Commenting on the feat, MSIL Executive Director (Marketing & Sales) Shashank Srivastava said,"Alto has been ranked as the No 1 selling car in India for 16th year in a row and we are immensely proud to announce another remarkable milestone of 40 lakh cumulative sales. This has become a sales record never achieved by any other Indian car." Over the years, he said, the brand Alto has established a strong emotional connect with the customers and has become a strong symbol of pride. "Alto is India's first entry level car to become BS-VI compliant coupled with

Signs of gradual recovery visible across different sectors in July

Retail sales of passenger vehicles and two-wheelers have touched almost 85% and 60% of pre-Covid levels, from a situation of zero sales in April

FADA to hold elections for the first time to elect state representatives

Federation of Automobile Dealers Associations (FADA) is taking this step so that the members can elect the best candidates from the states to represent their issues, it said in a statement

Skoda Auto India plans to ramp up reach, expand to 50 new cities in 3 years

The Czech auto manufacturer said in statement that under the purview of its 'INDIA 2.0' project, it will have at least twice as many sales and service touchpoints by 2022, as compared to now

Auto firms brace up for the festive season with slew of new launches

Automakers hope to make up for the loss of sales in previous months, but exercise caution

Shift in sales towards cars priced below Rs 5 lakh: Maruti's R C Bhargava

It is nowhere near the company's average sales in a month. We are producing vehicles that constitute only 60% of our capacity in Gurgaon and Manesar, Bhargava said

Car sales far from normal monthly numbers: Maruti chairman R C Bhargava

The auto major is currently producing vehicles at 60 per cent of its installed capacity in the Gurugram and Manesar plants, Bhargava pointed out during an interview

Auto companies may face 10-12% price increase for half-yearly contracts

Auto executives confirmed that negotitations between steel companies and major automakers - Maruti Suzuki, Hyundai and Mahindra & Mahindra - are in final stages

Slow Jaguar Land Rover recovery will weigh on Tata Motors profits

While operational gains will continue, firm may not turn profitable this year

TVS Motor plans Rs 300-crore capital expenditure amid Covid-19 pandemic

The company said it was planning to commercialise some of the intellectual properties (IPs) to be built by start-ups through the company's Singapore subsidiary.

Covid-19 impact: Honda Cars India comes up with voluntary retirement scheme

It's a voluntary scheme for associates over 40 years of age or who have completed 5 years of service

Maruti Suzuki reports net loss of Rs 249 crore in Q1 as Covid-19 takes toll

The company posted a pre-tax loss of Rs 370 crore, as compared with a profit of Rs 1,853 crore in the year-ago quarter

Going local a bigger challenge than expected for the automobile industry

Weaning the auto-components industry off Chinese imports will be a bigger challenge than what the government expects

Maruti Suzuki plans digitised financing options amid growing online demand

The country's largest car maker that sells on an average one out of every two cars sold in the country has seen digital enquiries spike to over 45 per cent during the lockdown months

Bajaj Auto plans to cut entry-level motorcycle models by a third

Move aimed at sharpening product amid high demand for cheaper bikes

CVs run into Covid-19, sales to shrink 30-35% this fiscal: Report

The industry is staring at further de-growth in fiscal year 2021 as Covid-19-led economic downturn adds to the negative sentiment

Amazon joins hands with Acko to offer automobile insurance in India

Amazon Pay on Thursday said it has tied up with Acko General Insurance Ltd to offer two- and four-wheeler insurance policies in India

Spurt in demand for pre-owned personal vehicles during April-July: Report

Pre-owned passenger vehicles market has seen steady recovery and growth in April-July period this year with demand for such vehicles growing by around 25 per cent this month as compared to February

Tesla picks Texas for $1.1 billion assembly plant, to create 5,000 jobs

This will be one of the largest economic development projects in Austin's history