Page 18 - Automobile Manufacturer

Tesla plans to lay off more than 10% of its staff amid softening demand

The world's largest automaker by market value had 140,473 employees globally as of December 2023, its latest annual report shows

BP's electric vehicle charging arm reduces over a tenth of workforce

The move comes as automakers across the world tighten their belts amid a slower than expected uptake of EVs

Honda Motors commences work for new warehouse facility in Karnataka

Japanese firm Honda on Monday said it has commenced work for a spare parts warehouse facility in Doddaballapura near Bengaluru, Karnataka. Managed by Honda Cars India, the new facility will support the spare parts operations for all Honda businesses, including Honda Cars India, Honda Motorcycle & Scooter India, and Honda India Power Products, the company said in a statement. The upcoming facility, which will be operational by the first quarter of FY26, will play an important role in the faster availability of spare parts at Honda dealerships, it added. "This is in line with our commitment towards our customers for providing timely and quicker availability of spare parts for their Honda products," Honda Cars India President and CEO Takuya Tsumura stated. The new facility will not only enhance spare parts accessibility in the southern region of the country but also pave the way for future requirements amid rapid electrification, he added. The development project of the facility will

EVs head for junkyard as mechanic shortage inflates repair costs in UK

Once there are more fully trained EV technicians, repair rather than replace becomes a more viable proposition, an expert said

US govt opens investigation into Ford recall for Bronco gasoline leaks

The US government's auto safety agency has opened an investigation into a Ford recall for gasoline leaks from cracked fuel injectors that can cause engine fires, saying in documents that the remedy doesn't fix the leaks. The National Highway Traffic Safety Administration said in documents posted on Friday that the probe will evaluate the adequacy and safety consequences of the remedy that Ford specifies in the recall. The agency moved with unusual speed, posting documents detailing the recall query just two days after the recall was made public. The recall covers nearly 43,000 Ford Bronco Sport SUVs from the 2022 and 2023 model years, and Escape SUVs from 2022. All have 1.5-litre engines. NHTSA said that fuel injectors can crack, causing gasoline or vapours to leak at a high rate onto hot surfaces in the engine compartment. The Associated Press reported on Wednesday that Ford's remedy for the leaks is to add a drain tube to send the gas away from hot surfaces, and a software updat

Passenger vehicle wholesales up 8.4% at 4,218,746 units in FY24: Siam

Passenger vehicle wholesales in India rose by 8.4 per cent year-on-year to 42,18,746 units in financial year 2023-24, industry body SIAM said on Friday. The overall passenger vehicle dispatches stood at 38,90,114 units in fiscal year 2022-23. Two-wheeler sales were up 13.3 per cent last fiscal at 1,79,74,365 units, as compared to 1,58,62,771 units in the financial year 2022-23. Vehicle sales across categories rose by 12.5 per cent to 2,38,53,463 units in the period under review, as against 2,12,04,846 units in fiscal year 2022-23.

BMW EV sales surge in Q1 even as rivals struggle with weak demand

Customer deliveries of battery-powered models such as BMW's i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday

Muted exports for auto sector in FY25 amid weak overseas demand: Ind-Ra

A slowdown in demand from both domestic commercial vehicle manufacturers and subdued exports could limit revenue growth to a range of 6-8 per cent year-over-year

Govt approves 11 EV manufacturers for receiving incentives under EMPS

EMPS scheme offers subsidies for e2W and e3W to sustain the growth in EV sales in the country

Tata Motors-owned JLR India sales rise 81% at 4,436 units in FY24

Tata Motors-owned Jaguar Land Rover (JLR) on Wednesday reported an 81 per cent jump at 4,436 units in its retail sales in India in the fiscal ended March 31, 2024. The year-on-year growth of 81 per cent represents one of the best performances in the market since the company's launch in India in 2009 and its highest in the last five years, JLR India said in a statement. Retail sales of SUVs, Range Rover, and Defender continued to grow with year-on-year increases of 160 per cent and 120 per cent respectively, it added. The newly launched 2024 model year 'Discovery Sport' and 'Range Rover Evoque' grew by 50 per cent and 55 per cent year-on-year respectively, the company said. JLR India Managing Director Rajan Amba said during the past year, JLR India achieved a series of retail sales records, resulting in a strong full year position for the year ended March 31, 2024. "We remain confident in our strategy and vision for the years to come. The positive gains we have made in the last yea

China's EV makers order record number of ships to support car exports

BYD alone exported over 240,000 cars in 2023, about 8 per cent of its global sales, and plans to export up to 400,000 this year

Tesla investors brace for potential back-to-back vehicle sales decline

The carmaker faces a tough year-ago comparison in the current period, Ben Kallo, who rates Tesla's stock the equivalent of a buy, said in a note published Tuesday

Cruise to resume 'robotaxi' tests with safety drivers in Phoenix, Arizona

The company is set to announce and begin the testing as early as Tuesday, the report said, citing people familiar with the matter

India's consumption story gets a facelift as rural demand shows promise

FMCG companies have also witnessed a pick-up in rural areas.

BMW Group India begins Q1 2024 with 51% sales growth to 3,680 units

Luxury Class cars also performed well, with a 152 per cent growth for BMW. Models like the 7 Series, X7, and the new XM played a key role in this achievement

BMW Group reports highest-ever first quarter car sales at 3,680 units

BMW Group India on Monday reported its highest-ever first quarter car sales at 3,680 units in the three months to March 2024. The company sales rose 51 per cent in the first quarter of this fiscal as compared to 2,440 units in the January-March quarter of 2022-23. Besides, BMW Motorrad sales stood at 1,810 units in the first quarter. "Our key car models are at the top of their game and with significant new launches in the pipeline, we will raise the heat in luxury market," BMW Group India President Vikram Pawah said in a statement.

Honda Cars India names Ryuto Shimzu as new director of marketing-sales

Honda Cars India on Thursday said it has appointed Ryuto Shimizu as the company's new Director (Marketing & Sales). He replaces Yuichi Murata who has moved to Honda Mexico as President. Shimizu has been associated with Honda for over 25 years and has worked across several international markets during the span of his career including Japan, China and Thailand, the automaker said in a statement. He has worked across the domain of marketing & sales including product planning, overseas operations, and business planning, among others, it added. Prior to joining Honda Cars India, he was in-charge of the Business Planning Office at Honda Automobile (Thailand) Co Ltd from 2021-2023.

Yulu partners with Yuva Mobility to launch its e2W service in Indore

Yulu is partnering with local businesses through their Yulu Business Partner (YBP) initiative to expand to other cities

Tesla misses sales estimates in first drop since 2020, shares decline 5.5%

Shares of Tesla fell 5.5% to $165.54 as of 9:33 a.m. in New York. The stock is down about 33% this year

HMSI reports 81% surge in domestic sales at 358,151 units in March

Honda Motorcycle and Scooter India on Tuesday reported an 81 per cent year-on-year jump in domestic wholesales at 3,58,151 units in March. The company had dispatched 1,97,542 units to its dealers in March 2023. Exports increased 95 per cent to 28,304 units last month from 14,460 units in March 2023, Honda Motorcycle & Scooter India (HMSI) said in a statement. The total sales rose to 3,86,455 units last month against 2,12,002 units in the same month last year, it added. Besides, the grew 12 per cent to 48,93,522 units in FY24 compared to 43,50,967 units in FY23, HMSI said.