Page 35 - Automobile Manufacturer

Automakers post robust sales of passenger vehicles riding on SUV demand

Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra, Toyota Kirloskar Motor on Thursday reported robust wholesales of passenger vehicles in the domestic market in May riding on strong demand for SUVs. Other manufacturers such as Tata Motors, Kia and MG Motor India also reported increase in their dispatches to dealers during the month. Market leader Maruti Suzuki India (MSI) reported a 15 per cent rise in total domestic passenger vehicle sales at 1,43,708 units as compared with 1,24,474 units in the same month last year. The company's sales of mini cars, comprising Alto and S-Presso, fell 30 per cent to 12,236 units as compared with 17,408 units in the year-ago period, while compact cars sales, including models such as Swift, Celerio, Ignis, Baleno and Dzire, increased 5 per cent to 71,419 units as against 67,947 units in May 2022. On the other hand, utility vehicle sales, including those of Brezza, Grand Vitara and Ertiga, rose 65 per cent to 46,243 units as ...

Tata Motors posts 1.62% decline in total sales at 74,973 units in May

Tata Motors on Thursday reported 1.62 per cent decline in total sales at 74,973 units in May as compared to the same month last year. The company had posted a total sales of 76,210 units in May 2022, Tata Motors said in a statement. Total domestic sales were down 2 per cent at 73,448 units as against 74,755 units in the year-ago month, it added. Domestic passenger vehicle sales were up 6 per cent at 45,878 units as compared with 43,341 units in May last year, Tata Motors said. Sales of passenger electric vehicles, including international business, were at 5,805 units as against 3,505 units in the same month a year ago, a growth of 66 per cent. The company said its total commercial vehicle sales stood at 28,989 units last month, down 12 per cent from 32,818 units in May 2022. Similarly, domestic commercial vehicle sales were down 12 per cent at 27,570 units as against 31,414 units in the corresponding month last year.

Ashok Leyland total sales decline 1% on-year at 13,134 units in May

Commercial vehicles maker Ashok Leyland on Thursday reported a 1 per cent decline in total sales at 13,134 units in May. The company had posted total sales of 13,273 units in May 2022, Ashok Leyland said in a statement. Domestic sales were lower by 1 per cent last month at 12,378 units as against 12,458 units in the year-ago period, it added. Exports were at 756 units as compared with 815 units in May last year, down 7.23 per cent.

Automaker Kia total wholesales increased 3% in May at 24,770 units

Automaker Kia India on Thursday said its total wholesales increased 3 per cent to 24,770 units in May. The company undertook a plant maintenance shutdown from May 15-20. It had dispatched 24,079 units to dealers in May 2022. While the overall domestic sales stood at 18,766 units, exports accounted for 6,004 units in May 2023. Sonet sales stood at 8,251 units last month, while Seltos and Carens dispatches stood at 4,065 and 6,367 units, respectively. The company also reported sales of 83 units of its electric offering EV6. "Although we faced some production limitations due to our plant annual maintenance shutdown for a week in May which impacted our numbers, we are confident of strong performance in coming months," Kia India National Head (Sales & Marketing) Hardeep Singh Brar said in a statement. The company is witnessing a growing demand for the iMT range, he added. "This month, iMT has contributed 38 per cent of our total sales," Brar said.

M&M's passenger vehicle sales up by 22% on-year in May at 32,886 units

Mahindra & Mahindra Ltd on Thursday reported a 22 per cent increase in passenger vehicle sales at 32,886 units in May, as compared to the same month last year. The company had posted a total passenger vehicle sales of 26,904 units in May 2022, Mahindra & Mahindra (M&M) said in a regulatory filing. Utility vehicles sales last month were at 32,883 units, as against 26,632 units in the year-ago period, a growth of 23 per cent, it added. Sales of cars and vans were at 3 units as compared to 272 units in May last year. "We continue our growth trend, backed by strong demand in SUVs," M&M President, Automotive Division Veejay Nakra said. He, however, said, "The sales volume for both SUVs and 'Pik-Ups' were restricted by a short-term disruption in engine-related parts at the supplier-end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too." Total exports were at 2,616 units last month, up 29 per cent from 2,028 units in May .

Ola announces price hikes for its electric scooters, to cost Rs 15k more

The reduction in subsidies is expected to trigger a wave of price hikes in electric scooter prices across the industry

Kia Seltos facelift spotted in X Line variant, check design updates

Speaking of the exterior styling, the new Seltos is likely to get a redesigned grille up front, a new set of LED headlights with a split treatment along with a new bumper

Mahindra is readying an updated five-door Thar, to be launched next year

This comes at a time when Maruti is all set to begin the sale of its own off-road SUV, Jimny, which Maruti has launched with five doors and comes with better seating space than the three-door Thar

Give us a road map and timeframe for local supply chain: India tells Tesla

At present, most of Tesla's vendors are Chinese, and they will need to establish joint ventures with Indian firms to operate in the country

Maruti Suzuki expects production loss in Q1; anticipates relief from July

Maruti Suzuki India expects production loss to continue in the first quarter with some relief anticipated in the July-September period as it continues to grapple with the shortage of electronic components, according to a senior company official. The country's largest carmaker has been facing a shortage of chips for a while which has impacted its supplies to cater to the market demand. "We lost 1.7 lakh units last fiscal. Our loss in the third quarter of the last financial year was around 45,000 units. Similarly, we lost around 38,000 units in the fourth quarter," Maruti Suzuki India (MSI) Senior Executive Officer (Sales and Marketing) Shashank Srivastava said in an interaction. With demand outpacing supply, the auto major has seen its pending order book stretch to over 4 lakh units with Ertiga leading the pack with close to 1 lakh bookings. Srivastava noted that with the current supply situation, the company incurred a production loss in April and anticipates a similar situation to

Tesla Superchargers may become the standard for EV charging: Ford CEO

Farley told CNBC that General Motors and other automakers are going to "have a big choice to make" in selecting between Tesla's EV chargers and the Combined Charging System

Moody's upgrades rating outlook on Tata Motors to positive from stable

Moody's Investors Service on Friday said it has upgraded its rating outlook on Tata Motors to positive from stable. Moody's has also affirmed the company's B1 corporate family rating (CFR) and its B1 senior unsecured ratings. "The rating affirmation and outlook change to positive reflect our expectation that the substantial improvement in Tata Motor's credit profile over the past few quarters will sustain over the next 12-18 months," Moody's Senior Vice President Kaustubh Chaubal said in a statement. Steadily growing volumes and profitability will support the company's earnings and free cash flow expansion, enabling debt reduction even as its capital expenditure stays elevated, he added. Tata Motors is pursuing a net-zero automotive debt target by March 2025. Moody's said it estimates that the auto major will reduce its gross debt by almost 40 per cent by March 2024 from March 2022 levels, having already reduced debt by a quarter at March-end 2023. Moody's said it expects a susta

Tata Motors inaugurates Guj's largest automobile showroom Pragati Vehicle

Tata Motors Inaugurates South Gujarat's Largest Automobile Showroom, Pragati Vehicle in Surat and Bardoli

Indian armed forces express interest in buying Maruti's five-door Jimny

Unlike the Thar, which is also sold in two-wheel drive, Maruti Suzuki will offer the Jimny only in a four-wheel drive arrangement

Royal Enfield starts delivery of E20 compatible Hunter bikes; an overview

Compared to the Bullet and the Meteor, which appear more substantial in their stance, the Hunter packs a more deceptive look and may not come across as having the same engine as the former two

Ashok Leyland Q4 results: Profit falls 17% to Rs 751 crore, revenue up 33%

The company's consolidated revenue from operation rose by 32.95 per cent to Rs 11,626 crore for the March quarter

Automakers to invest $10 billion for enhancing EV manufacturing capacity

The capital expenditure will be allocated towards building green-field plants for EVs, better research and investment in battery plants, and support for grid charging infrastructure

Will stop competing in over-served markets, instead play big bets: Ford

Ford Motor Co. CEO Jim Farley says the company will stop competing in over-served market segments and instead will place big bets on connected vehicles and digital services. The days of Ford being all things to all people are over, Farley said in a statement ahead of the company's capital markets day event on Monday. He says Ford will be competing differently, going for tailored ownership experiences rather than jockeying for slivers of market share with complex vehicles in over-served market segments. The company is expected to detail how it will accomplish this at the daylong event near its headquarters in Dearborn, Michigan. Executives are to explain how Ford will get to a 10 per cent pretax profit margin in 2026. It reiterated 2023 full-year guidance of USD 9 billion to USD 11 billion in adjusted pretax profits. Ford has split itself into three business units, Ford Blue for gasoline-powered and hybrid vehicles, Ford Model e for electric vehicles and digital products, and Ford

Tata Altroz CNG launched at a starting price of Rs 7.55 lakh; check details

The Altroz CNG comes with Tata's dual-cylinder set-up and is the only CNG car to be sold with a sunroof

Wheels India plans capital expenditure Rs 200 cr to ramp up production

Wheels India is looking at double digit growth to come back this year, though there is uncertainty in the overall global environment