Page 25 - Automobile Manufacturer

HMSI sees increase in sales by 27% to 317,123 units in December 2023

Honda Motorcycle and Scooter India on Wednesday reported a 27 per cent increase in total sales at 3,17,123 units in December 2023 as compared to 2,50,171 units in the year-ago period. Domestic sales were at 2,86,101 units last month, as compared to 2,33,151 units in December 2022, at a growth of 22.71 per cent, Honda Motorcycle and Scooter India (HMSI) said in a statement. Exports were at 31,022 units as against 17,020 units in the year-ago period, it added. In the calendar year 2023, the company sold 43,84,559 units, the statement said.

All about upcoming car and bike launches in January 2024; details inside

Here is the list of every upcoming car and bike which are expected to launch in India in January 2024. The famous upcoming vehicles incorporate Mercedes-Benz GLE, and others

Maruti Suzuki production falls 2.96% at 1,21,028 units in Dec 2023

Maruti Suzuki India on Tuesday reported a 2.96 per cent decline in total vehicle production at 1,21,028 units in December 2023. The company had produced 1,24,722 units in December 2022, Maruti Suzuki India said in a regulatory filing. Total passenger vehicle production last month stood at 1,19,518 units as against 1,24,135 units in December 2022, down 3.72 per cent, it added. Production of light commercial vehicle Super Carry was, however, higher at 1,510 units as compared to 587 units in the year-ago month. Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava had on Monday stated that the company had cut down on production in December to reduce stocks at dealerships ahead of the year-end.

Tesla deliveries beat estimates in Q4 as year-end sales push pays off

The automaker delivered a record number of vehicles in the fourth quarter and hit its 2023 target of 1.8 million, helped by increasing discounts on key models

Kia India appoints Gwanggu Lee as MD and CEO with immediate effect

Lee will be replacing Tae Jin Park, who has been the India head of the South Korean carmaker for the last four years. The company said that Park is retiring after his 36-year-long journey with Kia

Kia India appoints Gwanggu Lee as MD and CEO, succeeds Tae Jin Park

Kia India on Tuesday said it has appointed Gwanggu Lee as the new Managing Director and CEO with immediate effect. Lee succeeds Tae Jin Park, who retires after a 36-year journey with Kia Corporation including a four year stint with Kia India, the automaker said in a statement. Lee has held leadership positions in various capacities in both developed and developing economies, including roles in the US, Canada, Italy, Mexico, Kia Headquarters in Central and South America, and Kia Europe Headquarters in Germany. His recent role as President at Kia Mexico played a pivotal role in the company's substantial growth and establishment as a production and export hub, the company said. With two segment-breaking updates -- the new Seltos and the new Sonet, and a host of more innovative products on the way, Kia India is surely on the right path to sustainable business growth, Lee stated. "My vision is to unlock the next phase of growth through inspiring Kia brand experiences thereby creating m

Consumers moved away from diesel vehicles in 2023; EV, hybrid sales rise

SUVs, on the other hand, are likely to grow up to 54-55 per cent from a current level of 48.7 per cent. It has already grown from 42 per cent in 2022 to nearly 49 per cent in 2023

Eicher Motors gets Rs 130 cr tax demand notices, company to challenge

Eicher Motors has been served demand notices of over Rs 130 crore from three different authorities over issues related to GST, according to a regulatory filing by the company. The company has received a demand order for an aggregate amount of Rs 129.79 crore, including a penalty of Rs 11.8 crore and applicable interest from the office of the Principal Commissioner of CGST and Central Excise, Chennai, Eicher Motors said in a regulatory filing. The officer has disallowed certain GST credit and raised GST demand, largely on account of the difference in GST credit mismatch between the company's GST availment and details reported by suppliers in their GST returns, it added. Besides, the turnover difference as declared in GSTR-3B with GSTR-1 return and non-reversal of input tax credit on material returned instead of output tax liability paid by the company have also been cited as reasons. Eicher Motors further said a demand order for Rs 70.9 lakh, including a penalty of Rs 3.2 lakh, has

PV sales touch record high in 2023 at 4.1 mn, SUVs continue strong growth

Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023. "If you look at January to December 2023, wholesales crossed 41.08 lakh. This is the first time the industry has ever crossed the 4 million mark. That, I think is a huge milestone in the history of the Indian passenger vehicles (PV) industry," Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava told reporters in a call. He further said, "This is against wholesales of 37.92 lakh units for the calendar year 2022. Therefore, there is a .

Honda Cars India domestic sales rise 12% to 7,902 units in December

Honda Cars India Ltd on Monday reported a 12 per cent rise in domestic sales at 7,902 units in December as compared to 7,062 units units in the same month a year ago. Exports stood at 3,749 units last month as against 1,388 units in December 2022, Honda Cars India Ltd (HCIL) said in a statement. "The sales momentum in December has been extremely positive for us in both factory despatches and retail as our network maximised the deliveries for the new SUV Elevate to our customers," HCIL Director, Marketing and Sales, Yuichi Murata, said. He said the company is looking forward to 2024 "with tremendous positivity and optimism" with strong sales momentum and growing market potential, backed by a robust business plan.

Automobile major VECV sales grow over 11% to 8,026 units in Dec 2023

Eicher Motors Ltd on Monday said its arm VE Commercial Vehicles Ltd posted an 11.1 per cent growth in total sales at 8,026 units in December 2023. VE Commercial Vehicles (VECV), a joint venture of the Volvo Group and Eicher Motors, had sold 7,221 units in December 2022, Eicher Motors said in a regulatory filing. December 2023 sales included 7,789 units of the Eicher brand and 237 units of the Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 7,468 units last month as compared to 6,671 units in December 2022. Exports of Eicher branded trucks and buses were down 3.3 per cent at 321 units as against 332 units in December 2022, it added.

Maruti saw biggest jump in average revenue earned per car in 2023 at 13%

In 2022, MSIL had experienced an 11.98 per cent Y-o-Y increase in average revenue per car

Year ender 2023: Top auto launches of the year and what to expect in 2024

In 2023, Maruti Suzuki launched the Baleno-based crossover, Fronx, Brezza's facelift, and an all-new Grand Vitara in the SUV space and grabbed more than 50% share of the segment

Chinese automaker BYD's first car factory in Europe planned in Hungary

Chinese automaker BYD said on Friday that it plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion. Hungary will be the centre for its European operations, BYD said in a notice on its Weibo social media account. BYD, based in the southern Chinese city of Shenzhen, said it plans to create thousands of jobs in creating a local green ecosystem for manufacturing its electric vehicles. The factory will have an advanced production line and will be built in phases, it said without giving details on the amount of money to be invested. BYD is among EV manufacturers making fast inroads into Europe, to the extent that European regulators have begun a probe into Chinese government support for the industry. The company, whose name stands for Build Your Dreams, began direct EV sales in Hungary in October. The company says it plans to launch three new models in Europe within the coming year in addition to the five models it

Tata Curvv to Harrier EV: Here are cars Tata Motors will launch in 2024

Tata Motors will add two more electric cars to its portfolio, along with a facelift variant of Altroz

Tata Motors expects best sales in 2024 on back of fresh portfolio

Automaker plans to have 10 EV models by 2026 including the upcoming Harrier EV and Punch EV: MD Shailesh Chandra

Toyota's Daihatsu to halt all vehicle shipments, in widening safety scandal

Toyota Motor's Daihatsu unit will halt shipments of all of its vehicles, Japan's biggest automaker said on Wednesday, after a safety scandal investigation found issues involving 64 models

Why Maruti remains big on small cars, even when India shifts to larger cars

MSIL, the quintessential maker of small cars, has not fallen short of taking a bet on small hatchbacks even when there seems to be a structural shift in the Indian market towards larger cars

US opens probe into over 450,000 Nissan vehicles on engine failure concerns

The Japanese automaker has looked to address main bearing and L-link damage or seizures on the engines by introducing multiple manufacturing process changes over time, the regulator said

Maruti Suzuki's 2024 launches: Know about new cars, prices, specs, and more

Maruti will also join the EV bandwagon with its first born-electric SUV, the eVX, which is slated to be launched in India towards the end of 2024