Page 5 - Automobile Makers

Ultraviolette unveils India-made F77 electric motorcycle for Rs 3.8 lakh

Company says bike has the most advanced battery pack in the industry

Ather Energy takes on Ola, Okinawa, opens second manufacturing facility

Firm is in also in talks with various state govts to set up a third plant, which when completed, is likely to have a capacity of a million units a year

Volvo-Eicher looks to make most of post-pandemic recovery in bus market

Aims to disrupt intercity segment with fully-built luxury coaches

Electric sports bike firm Ultraviolette get funding from Qualcomm, Lingotto

Bengaluru-based start-up will launch motorcycle on November 24, aims to be in international markets

Jaguar Land Rover looks to hire laid off tech workers, says report

The carmaker on Friday announced a jobs portal for displaced tech workers to fill 800 roles

Bajaj Auto eyes south east Asia to take e-scooter space by storm

Bajaj's presence in this market in ICE vehicles has been limited till now because the region is essentially a step-through two-wheeler and scooter market

Mercedes-Benz slashes China EV prices by up to $33,000 as sales lag

The luxury automaker said in a statement on its website late Tuesday that it was reducing prices on certain models from its EQ range, effective Wednesday, and that it would provide subsidies

Brokerages see margin expansion at auto firms as outlook turns positive

Higher volumes and softer raw materials to drive expansion

Strong SUV sales bump up M&M's Q2 net by 46% YoY to Rs 2,090 crore

Revenue during the period rose 57% to Rs 20,839 crore from Rs 13,314 crore

Toyota Kirloskar forays into CNG segment; introduces 2 new models

Toyota Kirloskar Motor on Wednesday announced its foray into the CNG segment with the launch of Glanza and Urban Cruiser Hyryder trims with the environment-friendly powertrain. The two CNG trims of Glanza are priced at Rs 8.43 lakh and Rs 9.46 lakh respectively. The company, however, did not disclose the price of Urban Cruiser Hyryder CNG variants. Toyota Kirloskar Motor (TKM) Associate Vice President, Sales, and Strategic Marketing, Atul Sood said that being a customer centric company, the automaker believes in placing customers' interest at the forefront. "Our goal at Toyota has always been to serve the market needs with a clear focus on customers' aspirations, and by providing the most viable products and services to our customers. "With the same vision in mind, we are delighted to announce our foray in the CNG segment, driving in CNG variants for two of our much sought-after offerings, the Toyota Glanza and the Urban Cruiser Hyryder," he noted. With the latest addition, the .

Tata Motors to delist ADS, net loss in second qtr narrows to Rs 945 crore

The move will help simplify the company's financial reporting requirements and reduce administrative costs, it said

BMW India turns the corner, reports profit in FY22 due to high demand

The company posted its highest-ever revenue in India in FY22 at Rs 4,365.8 crore

Maruti's share in Suzuki's sales revenue jumps to a 7-year high

Suzuki holds a 56.37 per cent stake in Maruti Suzuki

French car maker Renault splits in five businesses to boost profit

Renault said it targeted operating margins of 8 per cent for 2025 and rising to more than 10 per cent in 2030, from 5 per cent expected this year

Maruti chalks out road to FY24 with 2.4-million production capacity

Maruti Suzuki chairman R C Bhargava says that each year the company, based on workers' suggestions, has saved around Rs 300 crore in costs

Nissan Motor likely to snub Renault revamp over sharing technology

While both sides appeared near a final agreement two weeks ago, Nissan's board and management have recently expressed concern over Renault's plans for the intellectual property

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

TVS Motor sales up by 2% in October, sells over 300,000 units

Domestic two-wheeler sales registered growth of 7 per cent increasing from 258,777 units in October 2021 to 275,934 units in October 2022

Impossible for any automobile company to be profitable in 1st yr: MG Motor

MG Motor India on Tuesday said it is impossible for any automobile company to be profitable in the very first year of its operations, in response to a notice from the Ministry of Corporate Affairs regarding why they have operational losses in the first year of operations 2019-2020. In a statement the company said it has received a "notice seeking clarifications primarily on why we have operational losses basis our annual report for the first year of operations 2019-2020". However, according to a report, the Ministry of Corporate Affairs has asked the company to explain irregularities and audit deficiencies of its financial records with its directors and auditor being summoned. "We fully cooperate with the government authorities on all issues and are in process of providing the desired records and information to the Registrar of Companies within the stipulated time frame," MG Motor India said. At the same time, it added, "we would also like to state that it is impossible for any ...

Mercedes-Benz India records Rs 441-cr PAT in FY23 after two years of losses

Luxury carmaker Mercedes-Benz India recorded a profit after tax of Rs 441.4 crore in the fiscal ended March 31, 2022, after two years of losses, according to financial data accessed by business intelligence platform Tofler. The company, which is not a publicly listed entity, had posted a loss after tax of Rs 107.1 crore and Rs 86.5 crore in 2020-21 and 2019-20 respectively. Revenue from operations in FY22 were at Rs 6,188.5 crore. This was the company's highest revenue after FY19 when it had clocked Rs 6,314.3 crore with a profit after tax of Rs 311.4 crore. In the fiscal ended March 31, 2021, the company's revenue from operations had dipped to Rs 3,639 crore with the pandemic impacting vehicle sales. In FY20, the company's revenue from operations was at Rs 4,819 crore, as per the Tofler data. Mercedes-Benz India's operating revenue in the year ended March 31, 2018 was at Rs 6,077.9 crore and it had posted a profit after tax of Rs 306.6 crore. In terms of unit volume sales, ...