Page 8 - Automobile

Inflection Point Ventures announces full exit from Koovers at 47% IRR

Founded in 2016, Koovers is a B2B e-commerce platform specializing in supplying auto parts to independent workshops and the aftermarket sector

Nitin Gadkari moots extra 10% GST on diesel vehicles, then clears air

Stocks of auto companies take a hit

Toyota Kirloskar Motor expects record sales in bet on 'looks', high output

The company posted a net profit of Rs 1,404 crore in FY23, about 2.7 times more than its net profit in FY22

Development of sustainable mobility ecosystem need of the hour: PM to Siam

PM Modi also said that India's auto industry has been both a catalyst as well as a beneficiary in its value-creation cycle

Domestic passenger vehicle wholesales up 9% in Aug, exports rise: Siam

Highest ever August sales for passenger vehicles and three-wheelers, says report

Honda launches new SUV Elevate priced at Rs 10.99L to reach H2 target

Honda had unveiled Elevate in June and opened bookings then. For some variants, the SUV already has a waiting period of as long as 5-6 months

Indian automotive industry poised to rank number 3 in world by 2030: Govt

India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector's growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey. The event shall have special focus on understanding the opportunities available through this scheme. "MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme," the ministry stated. The stakeholders expected to be present in the meeting include PLI-Auto applicants, test agencies etc, who will share their knowledge and experiences and address concerns and challenges. "The cascading effect of these schemes will lead to the growth of automotive industry and it is poi

Stop seizing parked old vehicles for scrapping: Delhi minister to officials

Delhi Transport Minister Kailash Gahlot on Monday directed the department secretary-cum-commissioner to stop seizing parked vehicles that have completed their stipulated life on the road and scrapping those, officials said. According to court orders, petrol vehicles that have completed 15 years since registration cannot ply on Delhi roads. Diesel vehicles older than 10 years are also not allowed on the roads. Owners of such vehicles are fined if these are found plying on the roads. The minister said in a note that it is "unfortunate" that the transport department is continuing its drive to seize old vehicles, even if found parked on the road, and sending those for scrapping. He cited "serious concerns" raised by Delhi High Court in the matter while hearing petitions of people whose vehicles were seized by enforcement teams of the transport department. Gahlot cited an office memo issued by the department dated June 27, saying the drive was not approved by the government. "It must

Gautam Singhania rests Rs 3.65 cr Maserati in garage fearing for his life

In late-2021, Maserati bought its latest supercar, the MC20, to the country, offering Indians to own the mean machine that can do over 325 kmph. Industrialist Gautam Singhania has been one of the buyers, but instead of revving on the city roads, notorious for potholes and humps, the car has been cooling-off in the garage of his home in a tony south Mumbai locality. Speaking to reporters on the sidelines of a company event, Singhania, a car enthusiast, called it the worst car he has ever driven in his life and cautioned anybody thinking of driving it, calling it as dangerous. "Frankly speaking, I paid for a Maserati but I got a lemon instead," Singhania said, adding the company blamed the Indian road conditions for the football-like bouncing he has faced while on the wheels. Singhania has taken to the microblogging website X to vent his ire two days ago, and has asked the company to appoint an independent test driver to check on the safety of the model. However, the industrialist ..

Top four electric two-wheeler makers give refund of Rs 10 crore to buyers

An investigation by the Centre found that some electric two-wheeler manufacturers were billing their charger separately to their electric scooters to cut the reported sale price of their products

Citroen plans to launch C3 Aircross SUV in Indian market by October

The company is also set to come with a new vehicle on the C-cubed platform by early next year

Indian auto industry is driving sustainable mobility through 6 initiatives

Companies have demonstrated the sector's commitment to the country's green growth

Tata Motors Q1FY24 results: Auto giant records net profit of Rs 3,202 crore

The commercial vehicle volumes were lower by 15% over the prior year due to the transition to BS-VI Phase-2

Ford slashes prices on electric version of F-150 truck by up to 17%

The cuts reverse price hikes Ford implemented over the last year that had raised the starting sticker price on its debut battery-powered truck by 50%.

Maruti Suzuki launches CNG trim of compact SUV Fronx at Rs 8.41 lakh

Maruti Suzuki India (MSI) on Wednesday said it has launched a CNG trim of its compact SUV Fronx with price starting at Rs 8.41 lakh (ex-showroom). The two trims -- Sigma and Delta -- are tagged at Rs 8.41 lakh and Rs 9.27 lakh, respectively. The CNG variants come mated with a 1.2 litre petrol engine with a power output of 77.5PS and a fuel efficiency of 28.51 km/kg. "In 2010, we introduced our first CNG-equipped model, and since then, we have sold more than 1.4 million S-CNG vehicles in the country, which is a true testament to our customers' trust and faith in our technology," MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said in a statement. The company is confident that the Fronx S-CNG will increase the share of S-CNG cars in its overall sales, and further strengthen the green mobility portfolio, now consisting of 15 models which is the best in the industry, he added.

Volvo Car's sales in India increased by 33% in January-June period

Volvo Car India on Wednesday said its sales grew 33 per cent year-on-year to 1,089 units in the January-June period. The company had delivered 818 units in the corresponding period of last year. The growth was primarily driven by the XC60, which experienced a substantial 35 per cent increase resulting in 376 deliveries, the automaker said in a statement. Additionally, the locally assembled all-electric XC40 Recharge performed exceptionally well, with sales of 289 units in the first half of the year, accounting for 27 per cent of the total volume, it added. "The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes," Volvo Car India Managing Director Jyoti Malhotra noted. With the upcoming launch of electric model C40 Recharge in August, the aim is to surpass its best ever year, he added. The introduction of the C40 Recharge aligns with Volvo's commitment to achieve a fully electrified vehicle

Vehicle loans outstanding rise 22% in May despite high interest rates

Vehicle loans outstanding increased by 22 per cent year-on-year to Rs 5.09 lakh crore in May, notwithstanding the Reserve Bank's rate hike spree in 2022-23. As per the latest RBI data, the total vehicle loan outstanding climbed from Rs 3.65 lakh crore in May 2021 to Rs 4.16 lakh crore in May 2022, and further to Rs 5.09 lakh crore as of May 19, 2023. The annual rise in loan outstanding was only 14 per cent in May 2022. The RBI started raising the interest rate in May last year to check inflation in the wake of the Russia-Ukraine war and cumulatively increased the repo rate (benchmark interest rate) by 250 basis points in six tranches before pressing the pause button at the beginning of the current fiscal. The retail sales data collected by the Federation of Automobile Dealers Associations (FADA) also reflects rising sales of vehicles across various categories in June. According to FADA, the auto retail sales in June demonstrated a 10 per cent year-on-year growth, encompassing posi

China's car sales shrink 2.9% in June as big-ticket spending falters

Car sales in June totalled 1.91 million units, down 2.9% from last year, CPCA data showed. It was the first monthly contraction since January

Auto retail sales touch 1.86 million in June, 10% more than last year: FADA

'New model introductions, festive promotions, seasonal factors couldn't markedly boost sales'

Safety features top concern for buyers while purchasing car: Survey

Car safety rating and number of airbags were the top two features driving the consumer car purchase decisions, findings of a survey has revealed. Fuel-efficiency, one of the popular aspects while buying a car, occupied third place as per the survey commissioned by Skoda Auto India and conducted by NIQ BASES. The study revealed a heavy inclination among customers towards the safety features of the car with 9 out of 10 customers who thought all cars in India should have a safety rating, the survey noted. As per the findings, car's crash rating was the top driver of customer car purchase decision with an importance score of 22.3 per cent followed by number of airbags with a score of 21.6 per cent. When it comes to crash rating for cars, maximum customer preference of 22.2 per cent was observed for a 5-star safety rating followed closely by 21.3 preference for a 4-star rating. Crash rating of zero is the least preferred with only 6.8 per cent score, as per the survey. Fuel efficiency