Page 16 - Automotive Industry

Hero MotoCorp to restart plant operations in staggered manner from May 17

Hero MotoCorp plans to restart plant operations in a staggered manner from May 17 after vaccinating 90 per cent of employees above the age of 45 years

Chip shortage to cost automakers $110 bn in revenues in 2021: AlixPartners

The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, consulting firm AlixPartners said, as it forecast the crisis will hit the production of 3.9 million

Passenger vehicle sales dip 10% in April due to Covid led restrictions

Passenger vehicle wholesales in India declined by 10 per cent to 2,61,633 units last month as compared to March this year, auto industry body SIAM said on Wednesday

April auto registrations fall 32% due to Covid surge, local lockdowns: FADA

Automobile registrations across the country dropped by 32 per cent last month as compared to April 2019 with passenger vehicles showing a decline of over 11 per cent, FADA said on Monday

Ashok Leyland scales down production across plants as demand dips

Hinduja group flagship Ashok Leyland on Monday said it has curtailed production at its manufacturing plants due to dip in demand with second wave of Covid-19 sweeping across the country.

We want to reimagine mobility, be the leader: KPIT Chairman Ravi Pandit

In this interview, Pandit talks about the shift the auto sector is seeing due to the pandemic, the rising demand for autonomous vehicles, and KPIT's trajectory on global automakers' digital road map

Kia lines up new model for Indian market; plans to ramp up sales network

South Korean auto maker Kia plans to introduce new models, enhance sales network and also ramp up production capacity to reduce the waiting period on the existing product range

Auto companies may see sharp increase in prices for steel contracts

Some have temporarily shut down units in the wake of rising Covid cases, but at least three major suppliers to the auto industry said the move was unlikely to impact negotiations

Chip shortage casts shadow on China's auto industry recovery: Details here

Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China

Ford details new production cuts due to global chip shortage: Details here

Ford said in March it expected the semiconductor shortage to cost between $1 billion and $2.5 billion

SIAM hails government's decision to extend FAME II certificate validity

Auto industry body SIAM on Wednesday termed the government's move to extend the FAME II certification validity by one year as a step in the right direction

Online used car retailing platform Spinny raises $65 mn in funding round

Spinny, an online platform for selling pre-owned cars, has raised $65 million in a funding round, led by Silicon Valley-based venture capital firm General Catalyst

PV retail sales rise 28% YoY, 2-wheeler registrations dip 35% in Mar: FADA

Automobile dealers body on Thursday said PV retail sales in March witnessed a growth of 28.39% to 2,79,745 units, as compared to year-ago period which saw disruptions due to Covid-19 led lockdown

Steady rise in metal prices is a big risk for the automotive industry

Analysts expect more pain for automakers since prices of steel and non-ferrous metals, such as copper, aluminium, and zinc, have increased further in three months

Thyssenkrupp raises annual outlook for first time in nearly four years

German conglomerate Thyssenkrupp AG raised its full-year outlook for the first time in nearly four years, citing turnaround efforts as well as improved demand for automotive components and materials

Govt asks automakers not sell vehicles with downgraded safety standards

Road Transport and Highways Secretary Giridhar Aramane also noted that only a few manufacturers have adopted vehicle safety ratings system and that too used only for their high-end models

Budget 2021-22 wishlist: Here are the key challenges in automotive sector

The sector accounts for a major share of the retail financing and is key to driving sales in the commercial vehicle segment

Lumax Group to ramp up production capacity at two key plants in 2021

A positive outlook for the overall passenger car market in the next fiscal year encouraged the firm to move ahead with its plans, said Vineet Sahni, group CEO, Lumax

M&M expects drop in production, sales at auto division over supply shortage

Mahindra and Mahindra (M&M) is expecting reduction in production and sales volume at its automotive division and in its wholly-owned subsidiary in the last quarter of the current fiscal due to global supply shortage of micro-processors. M&M said it is engaging closely with its auto components supplier Bosch and assessing likely production loss. "The operations of the company in the automotive sector will be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control unit (ECUs) which is supplied by Bosch," Mahindra said in a regulatory filing. Mahindra said this is estimated to result in reduction in production/ sales volume of the company (automotive division) and Mahindra Vehicle Manufacturers (MVML), a wholly-owned subsidiary of the company, in the last quarter of financial year 2020-2021. "The company is engaging closely with Bosch and assessing likely production loss for the last quarter of FY 2020-2021 on account of this supply .

Manufacturing, retail, auto hold highest potential of 5G adoption: Report

The report titled 'TMT Industry CEO Outlook: Smart. Secure. Sustainable' was launched at the ongoing India Mobile Congress 2020.