Page 31 - Automobile Manufacturer

British luxury carmaker Aston Martin to open new dealerships in India

Aston Martin currently sells about 10-15 cars per year in India through its official dealer Select Cars

20% cars sold in metros run on alternate fuels; sales doubled in last 3 yrs

Given the growing acceptance of hybrid and electric vehicles, the combined share of diesel and petrol vehicles has taken a hit and gone down by 8.27% and 4.64% in urban and rural markets, respectively

Tesla rival VinFast mulls setting up manufacturing plant in India

VinFast Auto became the world's third largest automaker by market capitalisation behind Tesla and Toyota in August

Skoda Auto Volkswagen India net profit up 49% in FY23 at Rs 309.5 cr

KODA AUTO Volkswagen India posted a 48.6 per cent rise in its standalone net profit at Rs 309.5 crore in the fiscal ended March 31, 2023 riding on strong revenue growth, according to financial data accessed by business intelligence platform Tofler. The company had posted a net profit of Rs 208.34 crore in the fiscal ended March 31, 2022. Revenue from operations was at Rs 17,041.72 crore in FY23, highest in the last five financial years, according to the data. In its regulatory filing, the company said the rise in revenue was due to increase in sales volumes in the domestic market. This was mainly due to the launch of new models under the India 2.0 project. In FY22, the company's revenue from operations was at Rs 12,410.48 crore; Rs 6,796.52 crore in FY21; Rs 9,300.06 crore in FY20 and Rs 7,062.71 crore in FY19. In terms of net profit, in the last five fiscals the company posted its highest in FY21 at Rs 756.97 crore. It was at Rs 261.39 crore in FY20 and Rs 198.06 crore in FY19.

Hyundai Motor India net profit jumps 62.3% to Rs 4,709.25 cr in FY23

Hyundai Motor India Ltd posted a 62.3 per cent jump in consolidated net profit to Rs 4,709.25 crore in the fiscal ended March 31, 2023 with the company breaching the Rs 60,000 crore revenue mark in the fiscal, according to financial data accessed by business intelligence platform Tofler. The company, which is the second largest passenger vehicles manufacturer in India, had posted a consolidated net profit of Rs 2,901.59 crore in 2021-22. Revenue from operations of the company increased to Rs 60,307.58 crore in FY23 as against Rs 47,378.43 crore in FY22. The company's total production in FY22-23 was at 7.27 lakh units over 6.06 lakh units in the previous year, an increase of 20 per cent. In terms of sales, Hyundai Motor India Ltd (HMIL) which sells popular SUVs such as Creta and Venue along with Alcazar, Tucson, sedans Verna and Aura, and hatchback Grand i10 NIOS, posted its highest ever sales in FY23. Domestic sales in FY23 were at 5.67 lakh units as compared with 4.81 lakh units

Auto dealers' satisfaction improves, policy concerns remain: Fada

The overall satisfaction of automobile dealers with regards to their relationship with manufacturers has improved but dealer viability and policy issues remain major concerns, Federation of Automobile Dealers Associations said on Wednesday. In its 'Dealer Satisfaction Study 2023' conducted in collaboration with PremonAsia, a consumer insights and advisory services firm, Federation of Automobile Dealers Associations (FADA) said at an aggregate industry level, the average dealer satisfaction score stood at 767 out of a maximum 1,000 points, an increase of 48 points from a year ago. Commercial Vehicle (CV) dealers were the most satisfied with 778 points, followed by mass market four-wheeler (4W) dealers at 769 points and two-wheeler (2W) dealers with 763 points. "The year-on-year improvements underscore the indispensable value of this annual study in identifying critical issues to fortify the auto OEM-dealer partnership. While auto dealers are increasingly optimistic, concerns related

Citroen C3 Aircross launched at an introductory price of Rs 9.99 lakh

Strap: The C3 Aircross is powered by a 1.2-litre turbo-petrol engine that returns 110hp and 190Nm of peak torque which comes mated with a six-speed manual gearbox

Tata Nexon facelift launched at an introductory price of Rs 8.10 lakh

In a segment first feature, Tata Nexon's instrument cluster also shows navigation-related information apart from on the touchscreen

Indian auto electronics market estimated to touch $70 billion by 2032

Safety controls have the highest demand in the country, accounting for 49% of total demand in 2022 followed by power electronics at 32%

Tesla looking at sourcing components worth $1.9 billion from India: Goyal

The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector

Toyota Kirloskar Motor expects record sales in bet on 'looks', high output

The company posted a net profit of Rs 1,404 crore in FY23, about 2.7 times more than its net profit in FY22

Alternative fuels to take center stage in the India's mobility sector

Coelho highlighted that Brazil started because of economic reasons but today it is the need to decarbonize the environment

M&M offering discount of up to Rs 1.25 lakh on XUV400, Bolero, XUV300

However, there are no discounts on Mahindra's more famous cars, such as Thar, Scorpio N, and XUV700

Industry needs to match govt steps taken in last 9 yrs: RC Bhargava

The government has taken several steps in the last nine years to resolve issues that were coming in the way of Indian industry and the latter needs to match what has been done, according to Maruti Suzuki India Chairman RC Bhargava. In order to grow faster and become globally competitive, the Indian industry also has to look at itself and see what could be done to improve overall efficiency, productivity and cost control, he told PTI. "The bigger opportunity for Indian industry has been created by what the government has been doing over the last nine-ten years. So many of the problems which are coming in the way of industry in the past have been resolved. Bhargava, however, acknowledged that there is much work to be done. He was responding to a query on what must the Indian industry do in order to cash in on the opportunity created by India's G20 Presidency. Bhargava further said, "I think Indian industry now needs to recognise that it cannot always keep blaming the government for

Volvo Car India expects 'good' festival season for domestic auto industry

With improved supply chain situation and positive economic sentiment, Swedish car maker Volvo expects the upcoming festival season to be "good" for India's automobile industry. A top executive of Volvo Car India has said that price parity is being slowly seen between electric cars and ICE (Internal Combustion Engine) cars. Volvo Car India on Monday launched its first ground up electric car C40 Recharge here at an introductory price of Rs 61.25 lakh (excluding taxes). "We have been through a pandemic (in the) last two years. Then we had supply (chain) challenges. This year, it looks normal... If you look at the overall economy, there is generally a very positive sentiment. I think it (festive season) should be really good," Volvo Car India Managing Director Jyoti Malhotra said. The luxury car segment sales are expected to return to the 2018 peak this year, after going through a rough road during the pandemic years, he said, adding that the supply chain situation has improved though

All kinds of green tech required to reduce dependence on fossil fuels: TKM

India needs all kinds of green technologies, including electric, hybrid and flex-fuel compliant powertrains in automobiles, in order to reduce dependence on fossil fuels, according to a senior executive of Toyota Kirloskar Motor. Aligning with the national goals, the automaker plans to go in for all kinds of powertrains in its cars as it looks to provide customers with a wide range of mobility options across multiple price points. "We need all the technologies to basically shift away from petrol and diesel fossil fuels. There is so much in terms of what needs to be done. Even if we have all these green technologies. there is still going to be a gap," Toyota Kirloskar Motor (TKM) Country Head and Executive Vice-President Vikram Gulati said in an interaction with PTI. TKM aims to offer wider clean energy technology choices, including hybrid, electric vehicles, fuel-cell electric and flex-fuel vehicles to align with the government's goal of reducing dependence on fossil fuels, he ...

BMW unwraps next-generation EV lineup to take on Tesla, China's BYD

The Vision Neue Klasse concept car, on display at next week's IAA show in Munich, shows off BMW's dedicated EV underpinnings due in 2025

Maruti Suzuki reports highest ever monthly sales of 189,082 units in August

Maruti Suzuki India on Friday reported its highest-ever monthly wholesales at 1,89,082 units in August. The auto major's dispatches to dealers last month were 14 per cent higher as compared to 1,65,173 units in August. Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 per cent, Maruti Suzuki India (MSI) said in a statement. Sales of mini segment cars, comprising Alto and S-Presso, declined to 12,209 units last month from 22,162 units in August 2022, it added. Dispatch of compact cars, including Baleno, Celerio, Dzire, Ignis and Swift rose to 72,451 units over 71,557 units in the year-ago period. Utility vehicles, consisting of Brezza, Grand Vitara, Jimny, Ertiga and XL6, clocked sales of 58,746 units last month as compared to 26,932 units in August last year. MSI said its exports last month stood at 24,614 units as against 21,481 units in the same month last year.

Hyundai Motor August sales grow 15% YoY, total dispatches at 71,435 units

Hyundai Motor India on Friday said its wholesales increased by 15 per cent year-on-year to 71,435 units in August. The automaker had dispatched 62,210 units to its dealers in August last year. Domestic sales rose 9 per cent to 53,830 units last month, from 49, 510 units in the year-ago period, the South Korean automaker said in a statement. Exports increased 39 per cent to 17,605 units last month from 12, 700 units in August 2022, it added. "The company's sales number of 71,435 units is a key indicator of an ever-growing acceptance of our products in both domestic and export markets," Hyundai Motor India COO Tarun Garg noted. The festival season in India has kicked off on a positive note with strong Onam sales in Kerala market and this is an indication of the festive fervour in other parts of the country in the coming months, he added. Demand for SUVs in the company's portfolio remains robust, contributing more than 60 per cent to domestic wholesales in August, Garg said.

Toyota records highest-ever monthly sales at 22,910 units in August

Toyota Kirloskar Motor (TKM) on Friday reported its best-ever monthly sales at 22,910 units in August. The company's total dispatches to dealers increased by 53 per cent last month to 22,910 units as compared with 14,959 units in August 2022. The company said it sold 20,970 units in the domestic market last month. Exports stood at 1,940 units last month, it added. "Strong sales volume and enhanced demand showcase customers' ever-growing affinity for the brand. Toyota Urban Cruiser Hyryder and Innova Hycross continue to register a strong demand," TKM Vice President of Sales, and Strategic Marketing Atul Sood said in a statement. The Innova Crysta, Fortuner and Legendar are witnessing sustained segment leadership, he added. "Encouraged by the overwhelming response to our entire portfolio, we are constantly working on expanding our product portfolio to offer customers wider choices. In-line with the same, we announced two new launches in the month of August," Sood said. The company