Page 31 - Automobile Manufacturer

Samvardhana Motherson misses Q1 profit view as higher costs weigh

The company also benefited from a recovery in vehicle production volumes in its key markets of China, Europe and North America

US auto sales to rise in August on increased vehicle supply, strong demand

For 2024, global light-vehicles sales are expected at 90.2 million units

Nitin Gadkari to launch Bharat NCAP today, here's all you should know

Union minister of road transport and highways Nitin Gadkari will launch Bharat New Car Assessment Programme (NCAP) today to boost the safety standards of motor vehicles

Mahindra to inspect over 100,000 XUVs for potential risk of wiring damage

XUV is among SUVs such as Scorpio and Thar manufactured by Mahindra, India's second-largest maker of such vehicles by volume

Hyundai signs deal to acquire General Motors' Talegaon manufacturing plant

Facility in Maharashtra has annual production capacity of 130,000 units

US factory output up first time in 3-months on surge in vehicle production

Total industrial production, which includes mining and utilities, jumped 1%, the most since the start of the year

Sunil Munjal to exit Hero MotoCorp as part of family agreement in 2016

The management and control of listed entity vested with the family Group and Sunil Kant Munjal resigned as joint managing director in the listed entity

Sedan demand strong despite surge in SUV growth: Mercedes Benz India MD

Sedans are still holding strong for Mercedes Benz India despite the demand for SUVs soaring in the overall Indian passenger cars market, according to company Managing Director and CEO Santosh Iyer. Although the company expects the share of SUVs to its overall sales will be slightly skewed after the recent launch of its new GLC SUV, he said the demand for its sedans continues to be very strong. "Fortunately our portfolio is a balanced sedan-SUV portfolio. We have the A Class, the B Class, the E Class and the S Class in sedan and then we have mirrored that in the SUV portfolio with a GLA, GLC, GLE and GLS. Right now the share of sedan versus SUVs is almost 48:52," Iyer told PTI. However, he admitted with the launch of the GLC, the share of SUVs to the company's overall sales could inch up to 55-57 per cent. Yet, Iyer said the demand for sedans for Mercedes-Benz is still strong in India. "A 50 per cent share of around 8,500 (total) in the first half, I would say nearly 4,500 customer

IEMC demands continuation of incentives for EV sector to maintain sales

Industry body IEMC on Thursday demanded continuation of incentives given to electric vehicle sector and cautioned that the withdrawal of sops would reduce EV sales to 37 million units by 2030 from estimated 125 million. According to India Electric Mobility Council (IEMC), India Energy Storage Alliance (IESA) has estimated that on discontinuation of the demand incentives, the electric vehicles (EV) sales in India will reduce from estimated 125 million units to 37 million units by 2030. The central government launched the FAME (faster adoption and manufacturing of hybrid and electric vehicles) scheme in 2015, under which subsidies are given to electric vehicle manufacturers and the benefit is passed on to buyers. The second phase of the scheme FAME II was launched in 2019. The scheme, which also provides incentives for setting up battery charging stations in the country, is likely to end in March next year. "...to ensure sustained growth of EV adoption in India, more than 80 EV ...

Strong market demand may return best-ever car sales this festive season

The festive season starts around August with Onam and Rakhshabandhan and concludes with Diwali in November

Toyota Motor's quarterly profit tops estimates, shares hit all-time high

Net sales for the fiscal first quarter rose 24 per cent to ¥10.6 trillion, topping the prediction for ¥9.8 trillion. For the full year, Toyota kept the revenue outlook at ¥38 trillion

Bajaj Auto July sales: Total sales down 10% YoY, 2W sales dip 14%

2W exports were also down 16% YoY which came down from 150,670 in July 2022 to 126,850 in July 2023

Mahindra to unveil Thar EV concept on August 15: All you need to know

Continuing with the Thar's off-road character, the concept electric vehicle will also have a 4X4 set-up

Honda begins production of mid-size SUV Elevate; to go on sale in September

The sale for Honda Elevate is scheduled to begin in September 2023 along with the deliveries. Pre-launch bookings for the car have already begun

Institutional investors vote against Siemens's sale of motors business

Nearly 78.5 per cent of the public institutional investors voted against the deal

BYD tells India partner it wants to drop $1 bn EV investment plan: Reports

BYD and its partner, privately held Megha Engineering and Infrastructures submitted a proposal to the Indian govt in April to jointly build electric cars in India, Reuters reported earlier this month

Ford recalls 870K F-150 pickups in US, parking brakes turn on unexpectedly

Ford is recalling more than 870,000 newer F-150 pickup trucks in the US because the electric parking brakes can turn on unexpectedly. The recall covers certain pickups from the 2021 through 2023 model years with single exhaust systems. Ford's F-Series pickups are the top-selling vehicles in the US. The company says in documents posted by government safety regulators on Friday that a rear wiring bundle can come in contact with the rear axle housing. That can chafe the wiring and cause a short circuit, which can turn on the parking brake without action from the driver, increasing the risk of a crash. Drivers may see a parking brake warning light and a warning message on the dashboard. Ford says in documents that it has 918 warranty claims and three field reports of wire chafing in North America. Of these, 299 indicated unexpected parking brake activation, and 19 of these happened while the trucks were being driven. The company says it doesn't know of any crashes or injuries caused b

Servotech Power to make EV components with initial investment of Rs 30 cr

Servotech Power Systems on Friday announced an initial investment of Rs 30 crore to manufacture EV charger components and lithium-ion batteries. The initial investment will be made along with the company's subsidiary Techbec Green Energy Pvt Ltd and another Rs 300 crore by March 2025. In a statement, Servotech Power said the initial investment will be utilized to procure testing equipment, manpower, machinery, and cutting-edge technology and supporting other allied activities. To take the plans forward, a facility spanning 40,000 square feet has been bought in Sonipat, Haryana where EV charger components like power modules, connectors, control cards, and PLC modules will be manufactured along with lithium-ion batteries. Company's founder and MD Raman Bhatia said the initial investment of Rs 30 crore will be allocated towards acquiring testing equipment, hiring skilled manpower, obtaining advanced machinery and technology, and supporting other related activities. "Our new subsidiar

A new Harrier and Safari! TaMo to revamp line up this festive season

Tata Motors has planned an investment of Rs 8,000 crore in FY24

Royal Enfield's Hunter 350 bike sales cross 200K-mark in 11 months

'Most popular' product launched in mid-size motorcycle segment, says company