Page 4 - Automotive Industry

Trump's auto tariffs boost car rental demand; Hertz and Avis shares surge

The new levies could add thousands of dollars to the cost of an average vehicle in the United States

European automakers decry Trump's auto tariffs that will 'punish consumers'

European automakers, already struggling with tepid economic growth at home and rising competition from China, on Thursday decried the US import tax on cars as a heavy burden that will punish consumers and companies alike on both sides of the Atlantic. The new 25 per cent import tax announced by President Donald Trump on Wednesday will hurt global automakers and US manufacturing at the same time," the European Automobile Manufacturers' association said in a statement. The head of Germany's auto industry association, VDA, said the tariffs would weigh on car makers and every company in the deeply interwoven global supply chain "with negative consequences above all for consumers, including in North America. The consequences will cost growth and prosperity on all sides, Hildegard Mller said in a statement. The stakes are enormous for BMW, Volkswagen, Mercedes-Benz, Volvo, Stellantis and their vast network of suppliers, as well as the entire European economy. The US is the biggest expor

Uno Minda, Motherson Sumi, M&M: Top bets by Nuvama ahead of March'25 sales

According to analysts at Nuvama, the tractor industry volumes are expected to grow in double digits, with an approximately 16 per cent Y-o-Y increase in the domestic market

Tata AutoComp Systems acquires IAC Sweden to expand global operations

The acquisition is undergoing European regulatory approval, expected to be completed within two to three months

All green tech should have fair taxation: Toyota Kirloskar India head

Brazil's market-driven fuel pricing allows flexible fuel blending

GM, Hyundai in talks to share pickups, electric vans in North America

Both automakers also face geopolitical tensions heightened by tariffs being levied or threatened by US President Donald Trump, which could curtail their ability to use imported components

German carmakers weigh price, production shifts to soften tariff impact

Trump earlier in March agreed to exempt automakers for a month from his punishing 25 per cent tariffs on Canada and Mexico if they complied with existing free trade rules

Kia India to hike car prices by up to 3% from April to offset input costs

Kia India on Tuesday said it will hike vehicle prices up to 3 per cent from April in order to offset the impact of rising input costs. The price hike, effective from April 1, 2025, is primarily due to rising commodity prices and escalating supply chain-related costs, the automaker said in a statement. "As a brand committed to providing exceptional value and quality to our customers, we have always strived to offer the best vehicles at competitive prices," Kia India Senior Vice President (Sales and Marketing) Hardeep Singh Brar said. However, due to the rising costs of commodities and input materials, the automaker will be increasing up to 3 per cent price across all models, effective from April 1, he added. "While we understand that price adjustments can be challenging, this decision has been made to ensure we can continue delivering the high-quality, technologically advanced vehicles that our customers expect from Kia," Brar said. To minimise the impact on the customers, Kia is .

Moody's downgrades Volkswagen on sector headwinds, competition in China

Last week, Volkswagen forecast another challenging year of ramping up EV sales, cutting costs and navigating trade tensions amid fierce competition with cheaper and faster rivals in China

India's CV industry wholesale volumes to grow at 3-5% in FY26: Icra

Capital expenditure in the CV industry is also expected to rise significantly to Rs 58-60 billion in FY25 and FY26, up from Rs 34 billion in FY24

India's auto parts companies eye a bigger share of the export market

An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently

Microchip Technology to lay off 2,000 employees amid weak automotive demand

The company expects to incur between $30 million and $40 million of costs related to the layoffs, consisting of cash severance and related restructuring expenses

Govt singles out VW in $1.4 bn tax dispute, says Kia corrected course

India says Volkswagen used a clandestine scheme to import auto parts in separate shipments, to evade detection and cut taxes, instead of declaring items as "completely knocked down"

Tesla must price India models competitively as buzz around entry grows

Tesla has also ended its true low-cost Model 2 efforts a year ago, shifting its focus to robotaxi and robotics plans

Rich in cash, Japan's Toyota builds city to test futuristic mobility

Woven City near Mount Fuji is where Japanese automaker Toyota plans to test everyday living with robotics, artificial intelligence and autonomous zero-emissions transportation. Daisuke Toyoda, an executive in charge of the project from the automaker's founding family, stressed it's not a smart city. We're making a test course for mobility so that's a little bit different. We're not a real estate developer, he said Saturday during a tour of the facility, where the first phase of construction was completed. The Associated Press was the first foreign media to get a preview of the USD 10 billion Woven City. The first phase spans 47,000 square metres, roughly the size of about five baseball fields. When completed, it will be 2,94,000 square metres. Built on the grounds of a shuttered Toyota Motor Corp auto plant, it's meant to be a place where researchers and startups come together to share ideas, according to Toyoda. Ambitious plans for futuristic cities have sputtered or are unfinis

Number of operational EVs in India likely to cross 28 mn mark in 2030: IESA

The total number of operational electric vehicles (EVs) in India is likely to cross the 28 million-mark by 2030 fuelled by increasing demand and incentives, the India Energy Storage Alliance (IESA) said in a report. India continues to make significant and sustained inroads in its decarbonization journey, with rapid increase in sales of EVs, supported by demand and supply incentives, growing consumer demand, and a focus on developing charging infrastructure, IESA said in a statement. The outlook for electric vehicle sales continues to be positive, driven by increasing environmental awareness, customer interest, advancements in battery technology, and readily available and easily accessible EV charging infrastructure, it said. India's cumulative electric vehicle (EV) sales crossed 4.1 million units in the fiscal year 2023-2024. IESA, a leading alliance focussed on e-mobility, energy storage, and hydrogen, forecast that the cumulative number of EVs in operation will likely cross 28 ..

Govt mulls including charging infrastructure in EV investment mandate

The policy, announced in March last year, was widely seen as an attempt to woo Tesla

Hyundai India aims to be production hub for exports to emerging markets

Hyundai Motor India is looking to position itself as a manufacturing hub for exports for emerging markets like Africa and neighbouring nations, according to a top company executive. The company, which is looking to diversify its export markets as it continues to face challenges regarding shipments to regions like the Middle East due to the Red Sea and other geopolitical issues. "We are positioning the company as a production hub for emerging markets. We are manufacturing and exporting our cost-optimised vehicle to the emerging markets," Hyundai Motor India MD Unsoo Kim told PTI. He noted that the automaker has a balanced mix of domestic and export volume, which gives it not only good profit but also a natural hedge against any market fluctuation. "We have a very suitable product line up for emerging markets," Kim said. Hyundai witnessed growth in almost all regions like Africa, Mexico and Latin America, he said. "However, the Middle East continued to face headwinds due to the Red

Modification at Halol plant to increase output, meet demand: JSW Motor

JSW MG Motor India on Wednesday said it is undertaking facility modifications at its Halol plant to enhance output to meet demand for its all-electric crossover utility vehicle Windsor and to prepare for new products to be sold under its premium retail chain MG Select. The company, which has witnessed the Windsor cross production milestone of 15,000 units, said it anticipates a production slowdown this month due to the facility modifications. The Halol plant has an annual production capacity of over 1 lakh units and plans to take it up to 3 lakh units by around 2027. JSW MG Motor India is diversifying its portfolio with the all-electric roadster MG Cyberster and electric three-row limousine MG M9 to be launched in the first half of this year under 'MG Select', company's new 'accessible luxury' brand channel. The two new models were unveiled at the Bharat Mobility Global Expo 2025 held in January. "We are increasing the capacity of the facility at Halol to meet the rising demand for

'Matter of survival': Volkswagen to court in $1.4 bn tax demand case

Authorities alleged Volkswagen India imported almost entire cars in an unassembled condition - which attracts a 30-35% tax - but evaded levies by mis-classifying them as "individual parts"