Page 36 - Automobile Manufacturer

India produces 27 mn vehicles, valued at $108-bn in FY23: Report

The Indian automobile industry produced a whopping 2.7 crore vehicles across segments and types, worth around USD 108-billion (Rs 8.7-lakh crore) in FY23, with passenger vehicle segment accounting for 57 per cent at Rs 5-lakh crore in the total value, a report said on Wednesday. Also, in the total 2.7 lakh crore vehicles churned out last fiscal, the commercial vehicle segment, which includes small 4-wheel carrier with less than 2-ton capacity to large tractor trailers and specialty vehicles like tippers, share stood at 10-lakh vehicles, generating a value of Rs 1.7-lakh crore, management consulting services firm Primus Partners said in its report. The CV segment accounted for 4 per cent in the total volume and 19 per cent in value terms, it said. According to Primus Partners, the production of two-wheelers is closely matched by China, with 20-million two-wheelers coming out of the manufacturing facilities in the country, accounting for 77 per cent of the volume share. The overall .

K'taka invites Tesla to invest, says ready to provide necessary facilities

The Karnataka government on Friday invited Tesla Inc, the world's largest electric car maker, to invest in the state, saying it is the ideal destination for the company's expansion into India, and that the authorities here are ready to support the company and its ventures and provide the necessary facilities. Tesla said earlier this week that it is looking to make a significant investment in India. After meeting Prime Minister Narendra Modi in the US, Tesla chief Elon Musk said he saw India as holding more promise than any other large country around the globe. He said he plans to pay a visit to the country in 2024. "I am confident that Tesla will be in India and we will do so it as soon as humanly possible," Musk told reporters after the meeting. "We don't want to jump the gun on an announcement, but I think it's quite likely that it will be a significant investment, a relationship with India." India, the world's third-largest energy consumer, is pitching as an alternate ...

Triumph launches its Street Triple; prices start at Rs 10.17 lakh

The Triumph Street Triple comes powered with a liquid-cooled, 765cc, three-cylinder engine which produces 120hp and 80 Nm of peak torque

M&M launches XUV700 in Australia at AUD 36,990; no diesel variant on offer

The XUV700 sold in Australia will come with only a turbo-petrol engine, the 2.0-litre mStallion that returns 200 bhp and a peak torque of 380 Nm

Corporate affairs ministry orders investigation into Hero MotoCorp

Shares of Hero were down as much as 4.2% in Thursday afternoon trade

Maruti sitting on 100,000 plus pending deliveries as MPV market expands

The challenge is more pronounced for the CNG variants of these vehicles

Toyota plans EV with 1,200-km range that fully charges in 10 mins

The batteries will deliver quicker charging and around 1,000 km (620 miles) of range, putting Toyota's vehicles ahead of the competition

Renault India reaches 1 mn production milestone at Tamil Nadu plant

France-based automaker Renault has reached a milestone by producing 10 lakh vehicles at its Tamil Nadu plant, a top official said here on Wednesday. Renault India Pvt Ltd is a fully owned subsidiary of Renault S.A.S France and has a manufacturing facility in association with Nissan Automotive India Pvt Ltd at Oragadam, located around 45 kilometres from here. Renault has a production capacity of about 4.80 lakh units per year. "We have nine lakh customers totally across India... Yesterday, we reached a key milestone. We rolled out the one millionth vehicles at the plant...," Renault India Operations Country CEO and Managing Director Venkatram Mamillapalle told reporters. A red colour KIGER marked the 10,00,000th rollout from the assembly line that was formally flagged off by senior company officials including Mamillapalle at the facility. The company has made substantial investments in manufacturing, technology, and talent, creating a robust production infrastructure ensuring the .

EVs to play significant role in closing on record sales this year: Volvo MD

Swedish luxury carmaker Volvo Cars expects electric cars to play a significant role in its bid to close in on record sales in India this year, a senior company official said on Wednesday. The company unveiled its all-electric SUV C40 Recharge in India, which will be launched in August and deliveries to start September onwards. The vehicle will be the company's second electric offering in India after its fully-electric XC40 Recharge launched last year. "2023 has started on a very promising note and we believe that we will do much better this year as compared to the last few years. Since the pandemic I think the market was a bit slow and then we had supply issues. "Supply issue is still around us but I believe that we should go back close to the 2018 number which was our peak," Volvo Car India Managing Director Jyoti Malhotra told PTI here. In 2018, Volvo Car India had sold 2,600 units. Last year it sold around 1,800 units in the domestic market. Asked if the company could cross re

Commercial vehicle industry to record moderate 8-10% volume growth: Report

The commercial vehicle (CV) industry is likely to record moderate volume growth of around 8-10 per cent this fiscal, with the pent-up demand levelling off, a report said on Tuesday. The growth will come amid increased government thrust on infrastructure spending despite expected muted exports on account of the uncertain global environment amid inflationary concerns, Care Edge Ratings said in its report. This growth is also expected to come on the back of the strong upcycle that the industry is witnessing despite the high base effect. Noting that the demand remains strong across all the segments, while the medium and heavy commercial vehicles (MHCV) are expected to grow by 10-12 per cent in FY24, the light commercial vehicles (LCV) are likely to grow by 6-8 per cent aided by last-mile connectivity demand boosting e-commerce activities, it stated. "With tailwinds like healthy replacement demand, increased freight movement and increasing government infra spending and a continued boom

Maruti to launch its new MPV 'Invicto' next month: What we know so far

Toyota and Suzuki have agreed to leverage each other's products to multiply their sales

Robust demand pushes passenger vehicle sales up 13.5% YoY in May: Siam

Total vehicle dispatches across categories were at 1,808,686 units in May 23, Siam data shows

Hyundai to utilise $5.9 bn in overseas operations' money for EV investments

Hyundai Motor Group said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward planned investments in domestic EV plants

Rs 25,938-cr Auto PLI scheme: Centre considers paying incentive quarterly

Incentives for FY23 yet to be disbursed as OEMs yet to furnish requisite documents, say officials

Jaguar evolution into all-electric brand on track: Chandrasekaran

The transformation of Jaguar into an all-electric luxury brand is on track with first new vehicles to be launched in 2025, according to Jaguar Land Rover Chairman N Chandrasekaran. Addressing shareholders in the company's Annual Report for 2022-23, he noted that the British automaker is set to transform into a modern luxury vehicle business. Jaguar Land Rover (JLR) has been a wholly-owned subsidiary of Tata Motors since 2008. Chandrasekaran noted that the brand faced a difficult business environment last fiscal with several headwinds like shortage of electronic components. The British brand had to contend with the shortage of semiconductors and challenges in energy supplies in the aftermath of the war in Ukraine, leading to a battle against inflationary pressures, Chandrasekaran said. "In this context, I am pleased that the company is progressing well in its transformation journey and is set to become a modern luxury vehicle business, with sustainability at its heart," he informed

SMEV seeks Rs 3k cr rehabilitation fund to revive ops of e2W makers

Society of Manufacturers of Electric Vehicles (SMEV) has asked the government to create a Rs 3,000 crore fund to revive and sustain operations of OEMs which have been badly affected by the recent FAME subsidy blocks. In a letter to the Finance Minister, the industy body has noted that the total amount of subsidies withheld and still due to various electric two-wheeler OEMs (Original Equipment Manufacturers) amounts to over Rs 1,200 crore and that the industry has been awaiting the funds for over 18 months exclusive of the interest. "The cumulative effect of the subsidy blockade, the claim on older subsidies and the refusal to allow future sales has been devastating on startups and first movers in the electric two-wheeler segment," SMEV Director General Sohinder Gill said. Many of these companies will not be able to come out of the financial stress caused by these actions, he added. "In fact, their post-resolution existence is also a matter of time. It is therefore our considered, .

Volkswagen launches new trims of Virtus, Taigun with 1.5 ltr TSI EVO engine

Volkswagen Passenger Cars India on Thursday said it has launched new trims of its mid-sized sedan Virtus and Taigun sports utility vehicle. The company has introduced the Virtus with a six-speed manual transmission on the GT Plus variant, priced at Rs 16.89 lakh (ex-showroom). Besides, the automaker said it has introduced two new variants of Taigun -- GT DSG and GT Plus, at an introductory price of Rs 16.79 lakh and Rs 17.77 lakh, respectively (ex-showroom). "With its strong legacy of fun-to-drive, the GT badge was introduced on the Performance Line (1.5l TSI EVO engine) variants of Taigun and Virtus. Today, we are taking a step further and democratizing the GT badge by introducing newer variants for customers to choose from," Volkswagen Passenger Cars India Brand Director Ashish Gupta said in a statement. The new variants of Taigun and Virtus will be available across the 161 sales touchpoints in 121 cities in India, the company said.

In a bid to drive volumes, Triumph to launch its 400cc bike on July 5

The pricing will play a crucial role in terms of the challenge Triumph can pose to the market leader, Royal Enfield

Ford Motor issues recall notice for 125,000 vehicles that could catch fire

The recall applies to Escapes from 2020 to 2023, Mavericks from 2022 to 2023, and Corsairs from 2021 to 2023, the report mentioned

Maruti's Jimny priced at Rs 12.74 lakh ex-showroom; check specifications

With Jimny, Maruti wants to achieve more than what it did with the Gypsy by making it a truly mass-market vehicle