Page 12 - Automotive Industry

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

April auto retail sales drop of 4% on decline in two-wheeler demand

The two-wheeler and passenger vehicle categories experienced YoY degrowth of 7% and 1%, respectively

The rise and fall: Auto LPG runs on fumes, sales down 82% since FY19

The sales of LPG cars have seen a steep decline of 82 per cent in the past five years. In the financial year 2023 (FY23), only 23,618 units were registered as against 1,28,144 units registered in FY19

Kia focuses on utility vehicle segment in India for long-term growth

South Korean automaker Kia is focussing on the utility vehicle segment in the Indian market as it remains bullish on the long-term growth potential of the vertical in the country, according to a senior company official. The automaker, which sells products like Seltos, Sonet and Carens in the market, also plans to keep on offering diesel trims on its models with demand remaining robust for such variants in the fast-growing sports utility vehicle (SUV) segment. Buoyed by its presence in the utility vehicle segment, the company expects its sales to grow by around 10 per cent this year. It sold 2,54,556 units in 2022. "Our focus firmly remains on multi-purpose vehicles and sports utility vehicles," Kia India National Head- Sales and Marketing Hardeep Singh Brar told PTI in an interaction. The company remains bullish on the SUV and MPV segments and does not have any plans to introduce sedans in the market, he noted. Brar noted that the contribution of the SUV segment in the overall ..

Musk says Tesla likely to launch full self-drive technology this year

"I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call

ACMA joins global right to repair movement to support automotive industry

Auto component industry body ACMA on Thursday said it has joined other global associations to lend support to the global right to repair movement. The Automotive Components Manufacturers Association of India (ACMA) said it has become party to the new right to repair position statement to support the automotive aftermarket. Across the globe, consumers are facing a significant threat to their right to repair their vehicles at the auto repair shop of their choice. With vehicles increasingly becoming like cellphones, connected wirelessly at all times. These connected vehicles collect thousands of data points on the health of vehicle systems and then transmit this to the automakers obstructing access to the independent repair shops. Globally, the automotive aftermarket keeps 1.5 billion vehicles on the road while contributing USD 1.8 trillion to the global economy. After vehicles exit their warranty period, independent repair shops perform 70 per cent of the repairs. "This vibrant ind

Persistent chip, logistics woes frustrate car delivery timelines

Persistent chip and logistics woes frustrate delivery timelines. Open order books in Feb breach 700K; wait period for some models exceed a year

From automotive to telecom, here's how the Budget affects key sectors

Financial sector identified as one of the priority sector as part of "Vision Amrit Kaal

Mumbai Airport plans to deploy over 100 EVs at facility by FY24: MIAL

Adani Group-owned Mumbai Airport has said it is looking to deploy more than 100 electric vehicles at the facility by FY24 to reduce its carbon footprint and promote sustainable transportation. As part of the plan, the airport operator on Wednesday rolled out 45 EVs at the facility, Mumbai International Airport Ltd (MIAL) said in a statement. The private airport operator also said it intends to replace all its ICE-powered vehicles with EVs as part of its Operational Net Zero mission by 2029. In addition to the 45 EVs being introduced in January, the airport is also exploring the deployment of 60 more EVs in the next fiscal year, including ambulances, forward command posts, security and airside operations and maintenance utility vehicles, it said. The remaining vehicles will be replaced in a phased-wise manner, the private airport operator added. Recently, the airport commissioned 12 DC fast EV charging stations at multi-level car parking and both Terminals 1 and 2, as well as the .

GoMechanic cooked the books, say investors as 70% staff is laid off

According to people in the know, investors may now ask GoMechanic founders to take leave of absence

India among top 3 auto mkts in the world, yet faces shortage of EV buyers

Over 4 million four-wheel vehicles were sold in India last year, surpassing Japan and coming in behind China and the US

Mahindra launches new versions of its sports utility vehicle 'Thar'

Mahindra & Mahindra on Monday launched new versions of its sports utility vehicle Thar with price starting at Rs 9.99 lakh (ex-showroom). The new range includes rear wheel drive variants (without 4 wheel drive capability) in two engine options with manual and automatic transmissions, the auto major said in a statement. The two diesel-powered manual rear wheel drive trims are priced at Rs 9.99 lakh and Rs 10.99 lakh while the petrol automatic variant is tagged at Rs 13.49 lakh. The 4WD (4-wheel drive) range now comes with an advanced electronic brake locking differential, the company said. "To make our offering even better, we listened to our customers and engineered the new range of the Thar with important enhancements," Mahindra & Mahindra President, Automotive Division Veejay Nakra noted. By offering the new rear wheel drive variants, the company has made it much more accessible for probable customers, he added. "Our additions on the 4WD variant have been designed to please .

Govt finalises rules for used car market, aims to resolve host of issues

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities

Corporate India gears up to hedge China supply risk amid Covid surge

The sectors in India that import from China include pharmaceutical (pharma), automotive (auto), textile, engineering, and electronic goods

Severity of injuries worst among auto workers in Pune, shows SII report

Nearly 83 per cent incidents in Pune reported a loss of body part of the worker, as compared to 67 per cent in Haryana (Gurugram and Faridabad)

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

Broader markets, especially automobile stocks, may also react negatively going ahead

Electric two-wheeler maker WardWizard's sales jump over two-fold in Nov

Electric two-wheeler maker WardWizard Innovations and Mobility on Friday said its sales surged over two-fold to 7,123 units in November this year as compared with the same month last year. The company, which sells Joy e-bike, had sold 3,290 units in November last year. Last month's sales number is the company's best-ever monthly performance till date. "With improved supply chain and consistent market expansion, we have been able to reach maximum customers, achieving another sales milestone. Our robust product portfolio and market presence have supported us to add new customers to the family," WardWizard Innovations & Mobility Chairman & Managing Director Yatin Gupte said in a statement. As customer purchasing sentiments are inclining towards electric vehicles to meet their daily mobility needs, the company is confident of carrying the same sales momentum in the coming months, he added.

Will low exports pause the rally in auto stocks?

Easing chip shortage helped auto sales touch the 1 million-mark in Q2. As demand entered a slow lane amid weak exports in October, the rally in auto shares lost its steam. Will this trend continue?

Two-wheelers rev up for mid-size battles amid rising competition

Royal Enfield has made aggressive moves in the 250-350 cc segment that it dominates, but the competition is accelerating

Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY

The company has also achieved a market share of 32 per cent in Q2FY23