Page 33 - Automobile Manufacturer

Ramkrishna Forgings bags 8.25 million Euro order in South America

Home-grown Ramkrishna Forgings on Tuesday said it has bagged an order worth Euro 8.25 million, about Rs 73.65 crore, for the supply of equipment to a client in the South American market. The company will be supplying front and rear axle components for the next five years, it said in a statement. "This contract represents a significant step in our journey to expand and diversify our operations in the South American market," said Ramkrishna Forgings CFO Lalit Kumar Khetan. "We are honoured to be chosen for this partnership which signifies not only our prowess in providing high-quality components but also solidifies our commitment to fostering innovation and excellence in the automotive segment," he said. The Kolkata-based company is a leading supplier of rolled, forged, and machined products. It has formed a joint venture with Titagarh Railsystems to manufacture and supply 80,000 wheels to the Indian Railways. The company, which exports to over 50 countries, has a manufacturing faci

Growth of revenue, market share is top priority: Hero MotoCorp CEO

Achieving production target for FY24 is secondary right now, he added

TVS Motor revs up with strong outlook, market share gains, new launches

Two-wheeler company's margin gains among factors that should be monitored: Analysts

Maruti Suzuki plans to double production capacity to 4 mn over 8 years

The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at the annual general meeting of the carmaker

Toyota's 14 auto plants shut down due to computer issues in Japan

All 28 vehicle assembly lines at Toyota's 14 auto plants in Japan shut down Tuesday over a problem in its computer system that deals with incoming auto parts. The automaker doesn't believe the problem was caused by a cyberattack but the cause is still under investigation, said spokeswoman Sawako Takeda. It's unclear when the lines will be back up. Toyota declined to say what models being produced might be affected. The shutdown comes after a shortage of computer chips and other auto parts stalled production in Asian nations affected by social restrictions over the coronavirus pandemic. The chips shortage woes had only recently started to ease for Japan's top automaker, which makes the Camry sedan, Prius hybrid, Lexus luxury brand.

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