Page 23 - Automobile Manufacturer

M&M January sales: Total vehicle sales rise 15%, reach 73,944 units

Mahindra & Mahindra Ltd on Thursday said its total vehicle sales grew 15 per cent year-on-year to 73,944 units in January. The utility vehicle sales stood at 43,068 units in the previous month as against 32,915 vehicles sold in January last year, growing 31 per cent year-on-year, M&M Ltd said. The commercial vehicle domestic sales during the month under review stood at 23,481 units, a growth of 8 per cent over 21,724 units in January 2023. Its three-wheeler domestic sales, including electric three-wheelers, fell 14 per cent to 5,649 units compared to 6,562 vehicles sold in the year-ago period, the company said.

Working on portfolio of CNG bikes, first launch in FY25: Bajaj Auto

Bajaj Auto is developing a portfolio of CNG motorcycles, and the first such bike will hit the market next fiscal under a new brand, Bajaj Auto Executive Director Rakesh Sharma said on Wednesday. The company wants the government to consider lowering GST on such CNG bikes -- which will serve as a bridge to full electrification -- to around 12 per cent as it seeks to replicate the success it has witnessed in the CNG three-wheelers to the motorcycle segment as well. "We are putting our money where our mouth is. We feel CNG is a great option for the country, for the society and for the riders. We have proven this in three-wheelers and now we want to extend this into two-wheelers," Sharma told PTI in an interview. "It will not be only one vehicle but it will be a range of vehicles across segments. We will fill up the portfolio, we may not present it in one go but the idea is to have a portfolio of CNG motorcycles." Asked about the timeframe for the CNG bikes to hit the roads, he said, "I

India should not cut customs duty on auto sector in any pact: GTRI

India should not cut import duties for the automobile sector under free trade agreements (FTAs) with countries like the UK as it will adversely impact the sector and may result in closure of companies here, economic think tank GTRI said in a report on Wednesday. The Global Trade Research Initiative (GTRI) said India has not given tariff or duty reductions for cars in its free trade agreements with ASEAN (Association of Southeast Asian Nations), Japan, and Korea. "Do not cut auto (including electric vehicles) tariffs through FTAs. This will adversely impact auto majors who have invested billions of dollars in India and force them to wind up," it said. It added that there is no reason to offer these concessions to the UK either, as the UK mostly assembles cars with parts imported from the EU (European Union), and China. It said if India offers duty concessions to the UK, it might face pressure to do the same for other free trade agreement partners like Japan and Korea. "This could l

Incumbents strike back: How will electric 2W game play out for Ola, others?

There is indeed a lot of the race left. Electric, for all the hype, is just about 15 per cent of the scooter market. So, what is on the cards?

Test cheating probe Toyota plant raided on 11.2 mn vehicles sales claim

Japanese transport officials raided the plant of a Toyota group company on Tuesday to investigate cheating on engine testing, as the company reported it kept its status as the world's top automaker in 2023, selling 11.2 million vehicles. Hours after the probe began at Toyota Industries Corp.'s plant in Hekinan, Aichi Prefecture, central Japan, Toyota Chairman Akio Toyoda vowed to steer the company out of scandal and ensure the Japanese automaker sticks to making good cars. My job is to steer the way for where the overall group should go, Toyoda said. He apologised, bowing deeply, and stressed the group vision was rooted in the Toyoda founding family's ideas of empowering the genba, or the workers on the plant floor, to make good cars that lead to people's happiness. The testing scandal comes at a time of otherwise stellar performance for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. Its group global vehicle sales for 2023 were a record 11.22 million uni

Toyota chief apologises for cheating on testing at group company again

Toyota chief Koji Sato apologized Monday to customers, suppliers and dealers for flawed testing at a group company, following a series of similar problems in recent years. The apology came a day before Chairman Akio Toyoda is to announce a global vision for the Toyota Motor Corp. group. The latest woes at Japan's top automaker involve testing required for Japanese government approval at Toyota Industries Corp., which makes diesel engines. False results were found for certification testing and other sampling inspections for engines which claimed the products met standards when they actually didn't, according to Toyota. We will do our utmost to resume production as soon as possible, Sato said at a hastily called news conference late Monday at Toyota's Tokyo office. Management was not able to fully comprehend and keep track of the details of what was happening on the ground, he said. Skirting of required tests surfaced last year at Daihatsu Motor Corp., which makes small cars and is

60 battery, EV infra cos to participate in Bharat Mobility Global Expo

More than 60 battery, recycling, and electric vehicle infrastructure firms will participate at Bharat Mobility Global Expo to be held from February 1 to 3, to showcase their innovations, a statement said on Monday. Industry body India Energy Storage Alliance (IESA) is organizing a dedicated pavilion on battery technologies, recycling, and EV infrastructure as part of this global expo, an IESA statement said. More than 60 leading companies including Amara Raja, LivGuard, GODI Energy, Epsilon Advanced Materials, Bhilwara Group, Replus, Himadri Speciality Chemical, Trontek Group, and Battrix are participating in the event. "India is at the forefront of a transformative mobility revolution, and this expo serves as a testament to the nation's commitment to sustainable transportation," Rahul Walawalkar President, IESA and CES (Customized Energy Solutions) India said in the statement. The expo will showcase the diversity and innovation propelling emobility landscape, he added. "Central t

Hybrid vehicles practical solution for decarbonisation drive: Report

Hybrid vehicles are a practical medium-term solution for India's decarbonisation drive as the country moves towards eventual electrification, according to a report by HSBC Global Research. Under the current circumstances, the total carbon emissions (well to wheel) from hybrid cars is lesser than that of electric vehicles (EVs) and it may take 7-10 years for EV and hybrid emissions to converge. "Hybrids are critical not just from a cost of ownership perspective, but also for India's de-carbonisation drive," the report said. Hybrids are much less polluting than EVs, it said, adding that the "total carbon emissions i.e. Well to Wheel (WTW) from an EV is currently 158 g/km vs 201 g/km for diesel, 176g/km for petrol, and 133 g/km for hybrid". This means that hybrids are 34 per cent, 25 per cent, and 16 per cent less polluting than diesel, petrol, and a proportionate EV, respectively, it added. Total emissions include both vehicle emissions -- tank to wheel (TTW) and crude mining/refini

Ola's mobility business made profit in FY23: Goal to serve 1 bn Indians

Hemant Bakshi, a former top Unilever executive, to lead Ola Mobility as CEO, with an aggressive growth focus

Mass mobility

FAME-III will drive low-emission public transport

Bajaj Auto Q3 net profit up 38% at Rs 2,032 cr on good domestic biz

No.3 in electric 2-wheeler market riding on Chetak, clocks 10K units-pm volumes

Passenger vehicle volumes expected to log 8-10% growth in FY24: Report

The Passenger Vehicles (PV) segment volumes are expected to log a record 8-10 per cent growth this fiscal as the pent-up demand levels off amid hike in vehicle prices, CareEdge said on Wednesday. Earlier on Tuesday, the credit rating agency said the segment was likely to see 18-20 per cent growth in PV sales. The rating agency said there is "a correction in the numbers mentioned for passenger vehicles industry in the outlook, which is likely to record a volume growth of around 8-10 per cent in FY24 as the pent up demand levels off amid hike in vehicle prices". The PV industry domestic sales grew 7.4 per cent year-on-year in the April-December period of FY24, it said in the revised statement. In its earlier report, the ratings agency had said the domestic passenger vehicles sale grew 25 per cent year-on-year during this period. It also projected that the PV sales volume will continue this growth momentum in the next fiscal, driven by factors such as strong order book and improvemen

Bajaj Auto Vice Chairman Madhur Bajaj steps down due to health reasons

Bajaj Auto Ltd on Wednesday said its Vice Chairman Madhur Bajaj has resigned due to health reasons. In a regulatory filing, Bajaj Auto said Madhur Bajaj has tendered his resignation from his position in the company with effect from the close of business hours on January 24, 2024. In his resignation letter, Bajaj said considering his age and current health and after being associated with the company for 44 years he wished to step down as the Vice Chairman and non-executive Director of Bajaj Auto. "I believe now is the time for me to pursue my other interests and commitments," he added. Further, Bajaj Auto said its independent director Lila Poonawalla has expressed her desire not to seek a second term when her first term ends on March 31, 2024. The board has approved re-appointment of Pradip Shah as an independent director for the second five-year term effective from April 1, 2024 and also recommended to the shareholders, the appointment of Vinita Bali as an independent director for

TVS, Bajaj Auto forecast lingering challenges to recovery of exports

On top of festive season, Bajaj Auto also benefited from strong demand for its premium motorcycles, led by the two Triumph models

TVS Motor Q3 net profit up 59% to Rs 479 cr amid rise in two-wheeler sales

During the quarter under review, the company's revenue from operations increased by 25 per cent to Rs 10,113.94 crore, while it was seen at Rs 8,066.13 crore during the third quarter of 2022-23

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