Page 37 - Automobile Manufacturer

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

Honda to unveil its midsize SUV Elevate on June 6: Glimpses inside

Honda will place the Elevate in the fiercely competitive midsize SUV segment that has established players like Hyundai Creta and Kia Seltos

US factories production surges in April as motor vehicles output rises

Capacity use for the manufacturing sector increased 0.7 percentage point to 78.3% in April. It is 0.1 percentage point above its long-run average

India ripe target for EV companies but domestic take up slow: Report

India is a ripe target for electric vehicle firms as the third-largest auto market in the world but due to slow domestic takeup, no Indian company is likely to have a meaningful global share of electric vehicles in the foreseeable future, according to a report by S&P Global Ratings. Asia is set to keep its place as the world's biggest producer of, and market for electric vehicles (EVs), EV batteries, and EV battery materials and the continent will be at the centre of the EV era, it said. "As the world's third-largest auto market, India is a ripe target for EV firms. Sales of EVs more than doubled last year in the country. This was, however, off a low base. EV sales represented less than 2% of the total light-vehicle sales in the last 12 months," the report said. Moreover, it said 90 per cent of the EVs in India are in the two- and three-wheeler segment. "While there is strong growth potential, the development of adequate charging infrastructure will be key to EV adoption. Given ...

Expect sales to be higher than industry growth this fiscal: Suzuki Motor

Suzuki Motor Corporation on Monday said it expects its automobile sales in India to be higher than the 5-7 per cent annual growth projected for the domestic market this fiscal. The Japanese automaker, which has a 56.4 per cent stake in the country's leading carmaker Maruti Suzuki India, on Monday reported a consolidated 30.1 per cent year-on-year increase in net sales at 4,641.6 billion yen for FY 2022 (April 2022- March 2023). In a statement, Suzuki stated that it aims to recover its market share in India by introducing sports utility vehicles. It also noted that the automaker will focus on multiple technological pathways like CNG and hybrid cars and not solely depend on battery electric cars to contribute to carbon neutrality in the Indian market. "We want to contribute to carbon neutrality through a 'multi-path' that includes CNG vehicles, HEVs, etc., rather than focusing solely on BEVs," Suzuki Motor Corp said in a statement referring to the Indian market. The Japanese automak

Maruti rolls out first Jimny out of Gurugram plant, deliveries next month

Maruti hopes to rival Mahindra Thar with its simple, practical and no-nonsense off-roader which is based on a ladder-frame chassis giving it a traditional SUV character

PV dispatches highest ever in April, grow 13% YoY, shows SIAM data

2W dispatches up 15% YoY, auto body says all segments have posted growth this April, indicating smooth shift to BS VI Phase 2 emission norms

myTVS parts division on expansion spree, to add one store a day in FY24

Under Ki Mobility, two brands are functioning at present, which includes myTVS for the automobile service business and myTVS Partsmart for the parts business

MG Motor 3.0 to push for Indianisation, green tech, capacity expansion

MG entered the Indian market in September 2017 by taking charge of General Motors' old plant in Halol. The plant has acted as MG's manufacturing hub for the last four to five years

Gabriel India ties up with Inalfa to manufacture sunroofs for PVs

Auto component maker Anand Group on Tuesday said its unit Gabriel India has inked a technical collaboration with Netherlands-based Inalfa Roof Systems to manufacture sunroofs for the passenger vehicles. The newly formed Inalfa Gabriel Sunroof Systems (IGSS), which will initially be a wholly-owned subsidiary of Gabriel India, will produce sunroofs at a new plant in Chennai with operations set to commence in the first quarter of 2024 with an investment of around Rs 170 crore. The entities noted that the IGSS will be later converted into a joint venture with Inalfa holding 51 per cent shareholding. IGSS will have an installed production capacity of 2 lakh units in the first phase with first line catering to South Korean automakers Hyundai and Kia. "This partnership supports the government's AtmaNirbhar manufacturing drive; provides our OEM (Original Equipment Manufacturer) customers with a domestic and resilient supply chain for sunroofs," Anand Group Executive Chairperson Anjali Sing

Automakers to launch six new SUVs in India in next two years: Report

SUV market share in India is expected to rise from its current 43% by the end of 2024-2025 to 48%, industry estimates said

To match Indian aspirations, carmakers to launch 81 new vehicles this year

Carmakers are looking at new sub-segments in the SUV space and trying to expand their offerings to lure in more and more customers