Page 23 - Automobile Manufacturer

Northern Railways helps Maruti export Jimny cars to African countries

Maruti Suzuki India has collaborated with Delhi Rail Division of Northern Railway to transport its Jimny cars to western ports through freight trains, which will be further transhipped in vessels to African nations, an official statement said. According to the statement, Sukhvinder Singh, Divisional Railway Manager, flagged off the first freight train with 98 cars on Tuesday from Farukhnagar station in Gurugram to Pipavav Port (West Coast) in the presence of the senior officials of Maruti as well as Delhi Rail Division. "Delhi Division, Northern Railway has become the preferred partner of Automotive Industries and in a major boost to increase export of automobile, M/s Maruti Suzuki India Limited is now transporting Maruti Cars of Jimny model to Western ports, which are further being transhipped in vessels to African nations. "The first rake was loaded on January 23, 2024, from Farukhnagar station to Pipava Port. The rake composition consists of 25 NMG (New Modified Goods) type ...

Result preview: Auto Inc may ride on strong revenue growth in Dec qtr

Prabhudas Lilladher expects the companies under its coverage to report an aggregate revenue growth of 20 percent YoY (including Jaguar-Land Rover) and 16 percent (excluding JLR)

Passenger vehicle segment to see record 18-20% growth in FY24: Report

The Passenger Vehicles (PV) segment volumes are expected to log a record 18-20 per cent growth this fiscal as the pent-up demand levels off amid hike in vehicle prices, CareEdge said in a report on Tuesday. It also projected the PV sales volume to continue this growth momentum in the next fiscal, driven by factors such as strong order book and improvement in supply chain, the credit ratings agency said. The demand for premium variants is expected to remain healthy, while that of entry-level variants may remain muted due to high interest rates and an inflationary environment, according to CareEdge. The Electric Four-Wheeler (E4Ws) segment -- which contributes about 6 per cent to the total EV market sales -- volumes have grown significantly in the past few years, it said. Major Original Equipment Manufacturers (OEMs) have planned to introduce more EV models in the future, suitable for the domestic market that could boost their adoption and increase competition in the market, it ...

Hero forays into mid-weight category with Mavrick 440: Check price, specs

With Mavrick 440, HeroMotocorp entered the "upper-premium" segment in the Indian market on Tuesday. Here are all the specifications of the new flagship bike of Hero

Suzuki Motorcycle India, SMFG India Credit Co partner for vehicle finance

Suzuki Motorcycle India Pvt Ltd on Friday said it has partnered with SMFG India Credit Co Ltd (formerly Fullerton India Credit Co) to provide financing on purchase of its two-wheelers. The two companies have entered into an MoU for the same, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement. SMFG India Credit is registered as a Non-Banking Financial Company-Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of Sumitomo Mitsui Financial Group (SMFG), it added. "Considering our continuous growth in the Indian market, it becomes imperative for us to associate with financiers who can facilitate ease of purchasing Suzuki two-wheelers. The idea is to offer flexible, yet easy retail finance offers, keeping in mind the needs of our customers," SMIPL Managing Director Kenichi UMEDA said. "We are confident that our engagement with SMFG India Credit will be another step in enhancing our ability to cater to the needs of our growing customer base in

BNC Motors plans to expand dealership network to over 300 outlets this year

Electric bike maker BNC Motors on Monday said it plans to expand its dealership network to over 300 outlets this year. It also said that around 90 of these outlets will be set up in north India, mainly across Delhi-NCR, Uttar Pradesh, Punjab and Haryana. The company further said that it plans to launch two more products this year, including a scooter and a bike. The electric bike maker currently has 10 dealerships. As part of the plans for accelerating national growth with a strategic expansion, BNC Motors plans to add over 300 dealerships in its networks in India by this year, the company said. Of this, close to 90 new outlets are planned for northern part of India, mainly in Delhi-NCR, Uttar Pradesh, Punjab and Haryana, it said. "Our increased focus on expansion into north India is a response to the growing demand and inquiries from customers who want to experience the BNC quality," said Anirudh Ravi Narayanan, CEO of BNC Motors. After six months of focused efforts in southern

Tata Motors to commence EV production at Sanand plant from April 2024

Tata Motors plans to commence production of electric vehicles at the Sanand plant, acquired from Ford India, from April this year, as per a top company official. Tata Passenger Electric Mobility Ltd, a unit of Tata Motors, acquired the facility from Ford India for Rs 725.7 crore in January last year. "We are planning to commence electric vehicle production at Sanand with Nexon EV from April," Tata Motors Passenger Vehicles MD Shailesh Chandra told PTI. The company has already commenced production of internal combustion engine-powered versions of the Nexon at the manufacturing plant with an installed capacity of 3 lakh units per annum. It can be further scaled up to 4.2 lakh units per annum. Chandra said the company is also looking to produce upcoming models at the facility. When asked about the company's product pipeline, he said that Curvv EV would be introduced around the second or third quarter of this calendar year. "We are also hoping that by the fag-end of this year, we sh

Mahindra expects to sustain growth momentum in SCV segment in FY25

Mahindra & Mahindra expects to sustain growth momentum in the small commercial vehicles segment in the next fiscal, as it looks to keep refreshing the range as per customer needs, a senior company official said on Thursday. The company on Thursday introduced the new Supro Profit Truck Excel series, available in both diesel and CNG Duo variants, priced between Rs 6.61 and Rs 6.93 lakh, respectively. The Small Commercial Vehicles (SCVs) are designed to cater to the needs of last-mile connectivity. "We are expecting the industry to grow 5-10 per cent next fiscal and we would like to do better than that," Mahindra Auto Vice President and Head of Sales Baneshwar Banerjee told PTI. He said the company keeps working towards continuous interventions in its product range as per customers' requirements. As part of that, the company plans to introduce air conditioning in its pick-up range in the coming months, Banerjee said. He noted that while the industry has witnessed a 22 per cent dip

Electric 2W manufacturer Ather Energy to launch family scooter 'Diesel'

The Ola rival's new scooter is slated to be unveiled in mid-2024

Ola Electric gets domestic value addition certificate under auto PLI scheme

Ola Electric on Wednesday said it has received domestic value addition certificate under the production linked incentive scheme for the automobile and auto component industry. The company successfully met the domestic value addition (DVA) criteria of 50 per cent among others as mandated by the Union Ministry of Heavy Industries, under the Production Linked Incentive (PLI) scheme for automobile and auto component industry, Ola Electric said in a statement. The certification has been granted by the Automotive Research Association of India (ARAI) after testing of the product and checks on the localisation standards of the components, it added. The company claimed it has become the first Indian two-wheelers company to receive the DVA certificate under the PLI scheme. "The PLI certification is a testament to our vertically integrated manufacturing capabilities and a significant milestone in our quest to accelerate India's journey towards clean mobility," a spokesperson of Ola Electric .

EV industry sales growth to moderate to 40-45% this year: Tata Motors

Tata Motors expects the industry sales growth of electric vehicles in India to moderate to 40-45 per cent this year with the base becoming bigger, a top company official said on Wednesday. The company, which launched Punch.ev on Wednesday, plans to introduce four more EV models this year, Tata Motors Passenger Vehicles Ltd & Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said. It is expecting to grow faster than the industry EV growth rate, he added. "Two years back, EVs were growing on a very low base. In the last calendar year, it had a growth of nearly 100 per cent but now the base is getting bigger. By the end of this financial year, it will be around 90,000 to 1 lakh. On this high base, I think the growth (industry) would moderate to about 40 per cent to 45 per cent," Chandra said. As for Tata Motors, he said with five EV products lined up for launch, the company expects to beat the industry growth rate. When asked about EV penetration in the overall

Govt to examine demands for inclusion of more components in Auto PLI: Min

The government has constituted a committee to examine the auto industry's demand for including more components in the production-linked incentive scheme for automobile and auto components, Union Minister Mahendra Nath Pandey said. "A committee has been constituted to examine demands from stakeholders to include more (automotive) components in the scope of the PLI scheme as technology keeps evolving. It will be chaired by an Additional Secretary in the Ministry of Heavy Industries and have 11 members including those from testing agencies like ARAI and the auto industry," the heavy industries minister told PTI. The minister was speaking on the sidelines of a conference on Auto PLI here on Tuesday. Considering the need of the auto industry, the ministry has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year and incentive will be provided for determined sales for a total of five consecutive financial years, starting from th

Panel to examine industry's components inclusion demand in Auto PLI

The government has constituted a committee to examine the auto industry's demand for including more components in the production-linked incentive scheme for automobile and auto components, Union Minister Mahendra Nath Pandey said on Tuesday. "A committee has been constituted to examine demands from stakeholders to include more (automotive) components in the scope of the PLI scheme as technology keeps evolving. It will be chaired by an Additional Secretary in the Ministry of Heavy Industries and have 11 members including those from testing agencies like ARAI and the auto industry," the Heavy Industries Minister told PTI. The minister was speaking on the sidelines of a conference on Auto PLI here. Considering the need of the auto industry, the ministry has extended the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year and incentive will be provided for determined sales for a total of five consecutive financial years, starting from th

Hyundai expects SUVs to account for 65% of its total volumes in 2024

Hyundai Motor India expects sports utility vehicle sales to account for 65 per cent of its overall volumes in 2024, the company's COO Tarun Garg said. The company, which currently gets around 60 per cent of its overall volumes from SUV sales, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials declined to comment. On Tuesday, the company strengthened its SUV portfolio with the introduction of the new version of its mid-sized sports utility vehicle Creta priced between Rs 10.99 lakh and Rs 19.99 lakh (ex-showroom). The company also plans to commence production at the newly acquired manufacturing plant at Talegaon plant in Maharashtra next year, Hyundai Motor India COO Tarun Garg said.

Automobile major Maruti Suzuki hikes prices by 0.45% across models

Maruti Suzuki India on Tuesday said it has increased prices of its entire model range with immediate effect. An estimated weighted average of increase across models is 0.45 per cent, the auto major said in a regulatory filing. This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from January 16, 2024, it added. Maruti Suzuki India (MSI) sells a range of cars starting from Alto to Invicto, priced between Rs 3.54-28.42 lakh (ex-showroom).

Toyota aims to produce about 10.3 million vehicles globally in 2024

Toyota is preparing to increase production thanks to strong sales of hybrid vehicles. The shortage of automotive semiconductors and other components is also easing, the Nikkei said

Auto exports dip 21% in 2023 as markets abroad face monetary crisis: Siam

Automobile shipments from India declined 21 per cent last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5 per cent to 6,77,956 units last year from 6,44,842 units in 2022. However, other segments like commercial vehicles, two-wheelers and three-wheelers saw a decline in exports last year. Two-wheeler exports slipped 20 per cent to 32,43,673 units last year from 40,53,254 units in 2022. Similarly, commercial vehicle shipments declined to 68,473 units last year from 88,305 units. Three-wheeler exports declined 30 per cent to 2,91,919 units last year from 4,17,178 units. Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI that in 2023, passenger vehicle exports were driven by vehicle launches and pent-up demand in markets like South Africa and the Gulf region. "

Tesla gets $94 billion market cap reality check as EV winter sets in

The hit to Tesla's market capitalization to start the year is the biggest the company has seen over a similar period since it went public in 2010

Domestic two-wheeler sales zoomed 9% in 2023 fuelled by rural demand uptick

The 2023 sales are still much below the pre-pandemic peak observed in 2018 when 21.645 million units of two-wheelers were sold

Bombay High Court junks pleas challenging closure of Talegaon plant

The High Court upheld the decision of the Industrial Tribunal allowing GMI to close the plant after noting accumulated losses of Rs 9,656.87 crore as of 2021-22