Page 13 - Automobile Manufacturer

Tata Motors-JLR project in Tamil Nadu to get going in two months

Over 400 acres zeroed in at Panapakkam, 90 km from Chennai

Auto industry wants CVs to be a part of FAME scheme: Dheeraj Hinduja

Hinduja talks about the Red Sea crisis, the Faster Adoption and Manufacturing of Electric (And Hybrid) Vehicles (FAME) scheme, and industry growth this fiscal year

Ford slips as higher costs, EV segment take a toll on profit growth

Analysts at Piper Sandler cited these 'unwelcome warranty headwinds' as the reason for the stock slump

Auto component industry turnover up 10% at Rs 6.14 trn in FY24: ACMA

The turnover of the automotive component industry rose by 9.8 per cent year-on-year to Rs 6.14 lakh crore for the fiscal ended March 31, 2024, industry body ACMA said on Thursday. The industry had reported a turnover of Rs 5.59 lakh crore in the 2022-23 financial year. Component supply to OEMs (original equipment manufacturers) in the domestic market grew by 8.9 per cent to Rs 5.18 lakh crore, with supply to the EV manufacturing industry accounting for 6 per cent of the total component production in the country, the Automotive Component Manufacturers Association of India (ACMA) stated. Exports grew by 5.5 per cent year-on-year to USD 21.2 billion in the last fiscal while imports grew by 3 per cent to USD 20.9 billion, thus resulting in a trade surplus of USD 300 million, it stated. The aftermarket, estimated at Rs 93,886 crore, also witnessed a growth of 10 per cent in FY24, ACMA said. "It is pertinent to note that apart from an increase in vehicle production, higher value additio

Tata Motors' market capitalisation crosses Rs 4 trillion for the first time

Tata Motors is currently the second-most valuable company in the salt-to-software Tata Group after Tata Consultancy Services

Ashok Leyland Q1 result: PAT dips 6% to Rs 509 cr, total income up 10%

Hinduja group flagship Ashok Leyland on Thursday reported a 6 per cent year-on-year fall in its consolidated net profit to Rs 509 crore in the June 2024 quarter. The company posted a net profit of Rs 544 crore in the April-June quarter of the previous fiscal. Total income increased to Rs 10,754 crore in the first quarter against Rs 9,735 crore in the year-ago period, Ashok Leyland said in a regulatory filing. Ashok Leyland Chairman Dheeraj Hinduja said the commercial vehicle industry continues to maintain the growth momentum, contrary to the expectations at the start of the year. Industry volumes for the first quarter were at comparable levels to the previous peak of Q1FY19, he stated. "The company's Q1 performance has beaten all expectations, we have been able to post excellent results with focused market performance while reining in costs," Hinduja stated. Through Switch Mobility, the company is geared to participate in the growing EV market with a clear road map, he added. Wi

Nissan's profits wiped out by deep US discounts; shares plunge 7%

The US and China are Nissan's two biggest markets, accounting for half of global sales in the year through March and 51 in the first quarter of this financial year

Tata Technologies Q1 result: Profit falls 15% on declining services revenue

Tata Technologies' profit fell 27% in the quarter ended March 31 due to similar reasons

Leadership rejig may be on cards for Bajaj Auto, hints MD Rajiv Bajaj

Addressing shareholders at Bajaj Auto's 17th Annual General Meeting in Pune on Tuesday, Rajiv Bajaj highlighted that the automobile manufacturer needs a younger Managing Director

India's automobile retail sales post 9.4% growth in Q1, shows FADA data

The overall sales were seen at 6.19 million during the quarter under review, compared to 5.66 million during the first quarter of 2023-24

Automobile exports from India rise 15.5% in June quarter, shows Siam data

Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year. Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal. Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year. Two-wheeler exports stood at 9,23,148 units in the first quarter, up 17 per cent as against 7,91,316 units in the year-ago period. Commercial vehicle shipments rose 8 per cent year-on-year to 15,74

Hyundai Motor rules out any special worker share allocation despite stir

Hundreds of workers at the company's main Indian plant at Sriperumbudur near Chennai demonstrated this week to demand a share allocation in the upcoming record $3 billion listing

Budget 2024: Fada seeks vehicle depreciation benefits for income tax payers

Automotive dealers body FADA on Friday urged the government to introduce vehicle depreciation benefits for individual taxpayers, saying it will not only expand the taxpayer base but also ignite automobile demand. In its pre-budget wishlist, the Federation of Automobile Dealers Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and partnership firms. "We urge the finance ministry to introduce the benefits of claiming depreciation on vehicles for individuals paying income tax," FADA President Manish Raj Singhania said in a statement. Allowing individuals to account for depreciation will not only increase the number of income tax filers but also ignite automobile demand, he reasoned. Singhania also recommended reduction of corporate tax for LLPs, proprietary, and partnership firms. "While the government has already reduced corporate tax to 25 per cent for private limited companies with a turnover of up to Rs 400 crore, extending this ..

After launch of Bajaj Freedom 125, TVS may roll out its own CNG bike

The CNG fuel option in the commuter segment offers a reduced fuel bill for the consumer

Can Bajaj's CNG bike Freedom 125 revolutionise the two-wheeler market?

Can Bajaj's CNG bike disrupt the 12 million units a year motorcycle market?

'No link between XUV700 price cuts and UP EV policy': Mahindra & Mahindra

The automobile manufacturer said that the announced price cut of XUV700 is a business strategy that was pre-decided in a February meeting

Registration fee waiver in UP to spur hybrid car sales? What Nomura says

Toyota, with its dominant market share in strong hybrids in India, analysts said, is anticipated to be a primary beneficiary of this policy change, followed by Maruti Suzuki (MSIL)

Hybrids emit less carbon than battery-powered electric cars: R C Bhargava

R C Bhargava talks on the battle between electric and other alternative technologies to reduce carbon emissions

Honda two-wheeler share increases after on-board norms compliance

Sales gap with Hero narrows to 45,000 units in June

Maruti, TaMo, M&M: How to trade auto stocks post UP govt hybrid car offer

Auto stocks in focus: Maruti down 6 per cent in last 2 months; trading strategies for Maruti, Tata Motors and M&M as UP government waives-off registration fee on hybrid cars.