Page 8 - Automobile Manufacturer

Demand revival in EMs drives 19% growth in automobile exports in 2024

Automobile exports from India rose 19 per cent year-on-year in 2024 led by a robust dispatch of two-wheelers, passenger vehicles and commercial vehicles, according to SIAM data. Overall shipments rose to 50,98,810 units last year, up 19 per cent from 42,85,809 units exported in 2023. "Last year saw revival in demand for the Indian automobiles from emerging markets like Latin America and Africa," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI when asked about reasons for exports growth last year. In 2024, passenger vehicle exports grew 10 per cent to 7,43,976 units as compared to 6,77,956 units in January-December period of 2023. Utility vehicle shipments rose 33 per cent year-on-year to 3,23,621 units while van shipments also jumped 14 per cent annually to 8,207 units. Passenger car dispatches, however, declined 4 per cent last year to 4,12,148 units as compared to 4,27,876 units in 2023. Two-wheeler exports rose 23 per cent to 39,77,162

MG M9 MPV debuts at Bharat Mobility Expo, launch set for March 2025

The MG M9, a premium electric seven-seater MPV, will be the second model sold through MG Select premium dealerships, launching in March 2025

India's share in global mobility supply chains growing: Piyush Goyal

India's share in the global mobility supply chains is increasing due to the sector's cost-competitiveness and focus on product quality, Commerce and Industry Minister Piyush Goyal said on Friday. Speaking at the Bharat Mobility Global Expo 2025 here, he said by the next year this expo will become the biggest auto show in the world and will emerge as the one-stop destination for the automobile sector for the world. At present, it is the second-largest automotive expo in the world. The expo, he said, will serve as a call to action for global partnerships, inviting international investors to tap into India's growing consumer base and business-friendly ecosystem. "Innovation and sustainability have become the focus of the mobility sector and India's share in the mobility global supply chains is also increasing. India's mobility sector is cost-competitive and is also focussing on product quality," he said. Goyal also said that electric vehicles are shaping the mobility sector and India

Will Bharat Mobility Expo 2025 rev up auto stocks? Analysts don't think so

Bharat Mobility Expo 2025, Auto Expo 2025: Analysts believe the automobile vehicle demand has been impacted by higher inflation and interest rates

Porsche to unveil Macan EV and 3 new models at Bharat Mobility Expo 2025

Porsche plans to showcase the new Macan electric, 911 GTS, Panamera GTS, and the refreshed Taycan facelift at the Bharat Mobility Global Expo 2025, marking their India debut

Tata Motors integrates artificial intelligence for vehicle safety

Company adopting a comprehensive approach that addresses safety before, during, and after accidents

Automobile dispatches grow 12% in 2024 driven by consumer sentiment: Siam

Automobile dispatches from companies to dealers rose 12 per cent last year compared to 2023 on the back of positive consumer sentiments which aided robust demand for two-wheelers, industry body SIAM said on Tuesday. Total wholesales across categories rose to 2,54,98,763 units in 2024 against 2,28,39,130 units in 2023, a growth of 11.6 per cent. "2024 has been reasonably good for the auto industry. Positive consumer sentiments and the country's macroeconomic stability helped in propelling reasonable growth for the sector across vehicle segments," Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra said in a statement. Last year, the growth was primarily driven by the two-wheeler segment which grew by 14.5 per cent in 2024 over a year ago, he added. Dispatches of scooters, bikes and models rose by 14.5 per cent to 1,95,43,093 units in 2024 compared to 1,70,75,432 units a year ago, the statement said. Scooter sales rose 20 per cent year-on-year to 66,75,231 u

Mercedes-Benz 2024 car sales fell 3% in a tough year for automakers

Annual sales of battery-electric cars (BEV) dropped by 23 per cent to 185,100 vehicles, adding pressure on the carmaker as new, harsher EU CO2 emission reduction targets take effect this year

Hyundai India updates variant range for Venue, Verna, and Grand i10 Nios

Hyundai India has updated the variants with new features. Key upgrades include wireless chargers, electric sunroofs, and enhanced infotainment systems across the lineup

Mahindra XEV 9e top-end Pack Three trim launched at Rs 30.50 lakh

Introductory prices of the entry-level Pack One trim were announced in November 2024, the company is yet to disclose prices of the mid-spec Pack 2 trim

Citi initiates coverage with 'Buy' on Hyundai Motor India; share up 3%

The rise in Hyundai India share came after global brokerage firm Citi Research initiated coverage with 'Buy' for target price of Rs 2,250

Auto majors end 2024 with positive sales growth driven by new launches

Riding on the back of new launches, major carmakers reported positive sales growth in Calendar Year 2024

Automotive leasing in India to account for 8% of sales in 5-8 yrs: ORIX

Mobility solutions and financial services provider ORIX Corporation India Ltd expects automobile leasing market in India to account for 7-8 per cent of the overall vehicle sales in the next 5-7 years, up from about 2 per cent currently with more younger people joining the workforce, its Managing Director and CEO Vivek Wadhera. With good traction in its business, the company expects 30-35 per cent higher profit this fiscal year compared to the last year, Wadhera told PTI in an interaction. "If you compare the Indian market to the western market, the overall leasing market in India is 1-2 per cent of the total number of automobiles sold," he said when asked how the automobile leasing market has been developing in the country. In 2024, passenger vehicle sales in India stood at 43 lakh units as per industry estimates. In the western market such as the US, or even Japan or China, the same percentage is 30-40 per cent, he added. There many customers don't buy vehicles but "Indians still

BMW 1 Series to return with a facelift, as the brand's entry point model

While BMW enthusiasts await the launch of the revamped 1 Series along with the 2 Series Gran Coupe this year, the limited edition Skytop concept is also expected to be available for Indian buyers

EV sales surge by 60% in UK as carmakers slash prices to dodge fines

The UK government is now reviewing the rules, which could result in increased flexibilities to help manufacturers meet them

Kia Sonet facelift hits 100,000 sales mark, petrol engine tops preferences

The updated Kia Sonet facelift went on sale in India in January 2024 and the Korean brand has sold more than 9000 units of the Kia Sonet facelift per month since its launch

Maruti Suzuki Dzire clocks three million production milestone in 17 yrs

Maruti Suzuki has manufactured more than three million units of the Dzire sedan since it was first launched in 2008, while has exported around 260,000 units to 48 countries

JSW MG Motor to unveil three new models at Bharat Mobility Global Expo 2025

MG Motor India confirmed showcasing three new models across three new categories, including the MG Cyberster electric sports car, at the upcoming Bharat Mobility Global Expo 2025

Mercedes-AMG CLE 53 Coupe to hit Indian roads in 2025 with sportier design

The new Mercedes-AMG CLE 53 will come with a wider stance and enhanced style, powered by the 'M256' 3.0-litre twin-turbo six-cylinder engine coupled with a 48V mild-hybrid system

M&M, TVS & Uno Minda among top picks by Nuvama ahead of December auto sales

Nuvama analysts said December is expected to bring encouraging results for the industry. PVs are predicted to achieve double-digit growth, propelled by strong performances from M&M, Maruti & Toyota