Page 15 - Automobile

Maruti Suzuki India crosses 25 million cumulative production milestone

Maruti Suzuki India (MSI) on Wednesday said it has crossed 2.5 crore cumulative production mark. MSI started production in December 1983 and crossed the 10-lakh production mark in March 1994. It crossed 1- crore mark in March 2011 and 2-crore milestone in July 2018. Its first production facility came up in Gurugram, Haryana. The company now has two manufacturing plants in Gurugram and Manesar in Haryana, with an installed production capacity of 15 lakh units per annum. The company sells 16 passenger vehicles in the domestic market and also exports to around 100 countries. "2022 marks 40 years of Suzuki's partnership with the people of India. Crossing 25 million cumulative production milestone this year is a testimony of Suzuki's continued commitment and partnership with the people of India," MSI Managing Director and CEO Hisashi Takeuchi said in a statement. Going forward, the automaker will continue to introduce new products in the market, he added. "Anticipating growing deman

Overall commercial-vehicle volume to touch 1 mn units by FY24: Fitch

Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 the level of the last cyclical peak recorded in FY19, it said. According to Fitch, domestic CV sales volume are expected to grow in the mid-to high-teens over the next few years. Factors like rapid recovery in India's economic activity after the pandemic shock and the government's planned increase in infrastructure spending will help sustain an ...

Wheels India reports net profit at Rs 15.14 cr for July-September quarter

Wheels India Ltd, manufacturer of steel wheels for automobiles has reported net profit at Rs 15.14 crore during the quarter ending September 30, 2022, the company said on Tuesday. The company had reported net profits at Rs 21.2 crore during corresponding quarter previous year. For the half year ending September 30, 2022, the net profits of the company stood at Rs 25.8 crore as against Rs 31.3 crore registered in the corresponding period last year. Revenues for the quarter ending September 30, 2022 grew to Rs 1,109 crore as compared to Rs 911 crore registered in the same period last year. Revenues for the six-month period ending September 30, 2022 rose to Rs 2,166 crore as compared to Rs 1,586 crore recorded same period of last year. The revenue growth was driven by a good recovery in the domestic CV market. Exports have been impacted especially in retail segments in the United States and European Union, company Managing Director Srivats Ram said. The company has commenced product

India launches probe into MG Motor as scrutiny on Chinese firms widens

The company's top management, including directors, managing director and auditors have been summoned next month by the ministry seeking more clarification

China's Evergrande group starts delivering its first electric vehicles

China Evergrande New Energy Vehicle Group Ltd has started deliveries of its Hengchi 5 electric vehicle, with the first 100 customers getting their cars on Saturday

Hero MotoCorp partners with Terrafirma Motors to enter Philippines

Two-wheeler maker Hero MotoCorp on Wednesday announced its plans to enter the Philippines for which it has partnered with Terrafirma Motors Corporation for assembly and distribution of its vehicles. A part of the Columbian Group of Companies, Terrafirma Motors Corporation (TMC) will be the exclusive assembler and distributor of Hero MotoCorp motorcycles in the Philippines, the company said in a regulatory filing. TMC will set up an assembly facility of 29,000 square metres in its existing principal manufacturing facility situated in Laguna City and will start its operations in the second half of fiscal year 2024, it added. "In keeping with our R4 (recalibrate, revitalise, revolutionise and revive) strategy, we are always keenly exploring new opportunities in global markets. Our partnership with Terrafirma Motors Corporation to enter the Southeast Asian region is an integral part of this expansion strategy," Hero MotoCorp Head of Global Business Sanjay Bhan said. TMC Chairman ...

How Kia turned out to be a 'sweet price band' for upper middle class

Hyundai's sister concern has established a respectable presence in India despite a pandemic-year launch

Mercedes-Benz India records Rs 441-cr PAT in FY23 after two years of losses

Luxury carmaker Mercedes-Benz India recorded a profit after tax of Rs 441.4 crore in the fiscal ended March 31, 2022, after two years of losses, according to financial data accessed by business intelligence platform Tofler. The company, which is not a publicly listed entity, had posted a loss after tax of Rs 107.1 crore and Rs 86.5 crore in 2020-21 and 2019-20 respectively. Revenue from operations in FY22 were at Rs 6,188.5 crore. This was the company's highest revenue after FY19 when it had clocked Rs 6,314.3 crore with a profit after tax of Rs 311.4 crore. In the fiscal ended March 31, 2021, the company's revenue from operations had dipped to Rs 3,639 crore with the pandemic impacting vehicle sales. In FY20, the company's revenue from operations was at Rs 4,819 crore, as per the Tofler data. Mercedes-Benz India's operating revenue in the year ended March 31, 2018 was at Rs 6,077.9 crore and it had posted a profit after tax of Rs 306.6 crore. In terms of unit volume sales, ...

Can Bhavish Aggarwal's ambitious plans for Ola Electric challenge Musk?

Whether Ola Electric succeeds or not, Aggarwal's admirers seem to agree that he has turbo-charged the EV market, pulling in millions of investment dollars

Toyota marks turnaround in India, reports highest profit in four years

The company has worked towards meeting the mobility needs of consumers

Bajaj Auto Q2 preview: Ebitda may rise up to 34% YoY, margins seen flat

Bajaj Auto Q2: Brokerages tracking the company expect it to report a double digit sequential growth in net profit on the back of healthy volume-based sales during the quarter

Jubilant Food, Bata: Consumption stocks get leg up amid festive boost

Nine-day Navratri festival saw retailers witness the highest footfalls in two-three years across segments such as automobiles, consumer appliances, and apparels

Audi India retail sales up 29% to 2,947 units during Jan-Sept period

German luxury carmaker Audi on Friday reported a 29 per cent growth in retail sales at 2,947 units in the January-September period of this year in India. Audi India had retailed 2,291 units in the same period last year. The growth was driven by the new A8 and Q7, coupled with continued demand for the e-tron range, A4, A6, Q5 and the RS performance range, the company said in a statement. In addition, Audi Approved: plus, the company's pre-owned car business, has grown by 73 per cent in the first nine months of 2022, it added. "Our performance in the first nine months has laid the foundation for a positive performance in the remainder of the year. "Robust growth, despite the semiconductor shortage and global supply-chain issues reiterates the customers' enthusiasm around the brand and our wide product portfolio," Audi India Head Balbir Singh Dhillon said. In the ongoing festive season, the automaker is expecting good growth on the back of sustained demand, he added. The automker n

After initial frenzy, electric two-wheeler market consolidating

Just 7 companies accounted for 86% of all electric two-wheeler registrations in September

Kia recalls 44,174 units of Carens to inspect error in airbag software

Kia India on Tuesday said it is recalling 44,174 units of its latest model 'Carens' to inspect and fix any potential error in air bag control module software. As a responsible corporate, the company has decided to voluntarily recall the vehicles for inspection and if required, a software update will be provided free of cost, the automaker said in a statement. The voluntary recall campaign is being undertaken to inspect any potential error in air bag control module software in the Carens, it added. The company said it will directly reach out to the owners of the concerned vehicles to update them about this voluntary recall campaign. Customers of the affected vehicles would be required to get in touch with their respective Kia authorised dealers to schedule an appointment. Kia India had launched the model, which comes with six and seven seating options, in February this year. The Carens comes powered by a 1.5 petrol, 1.4 litre petrol, and 1.5 diesel powertrains mated with three ...

Two-wheeler sales in India rise 9% YoY, still below pre-pandemic levels

Honda emerged as the top two-wheeler seller in India in September, followed by Hero and TVS Motor. Ola Electric was the top EV seller

Tesla delivers 343,000 cars in third quarter, says lower than expected

The US electric automaker Tesla on Sunday (local time) announced the delivery and production numbers for the third quarter, stating that it is lower than expected, according to media reports

India is the only growth market for autos globally: S&P Global Mobility

Moody's Investors downgrades global outlook for auto to negative from stable

Is it the beginning of the end of diesel cars in India?

The price gap between petrol and diesel has been narrowing. And BS VI emission norms dealt another blow to the sales of diesel vehicles. So, what is the road ahead for diesel cars in India?

Automakers may seek time to install seat belt reminders for rear seats

The reason why the feature cannot be immediately implemented is that the three-point point seat belts are required to be anchored to a structural support, explained an official at a car company