Page 5 - Automotive Industry

Analysts bullish on Maruti Suzuki post Q3, positive on CNG, EV growth

The Maruti Suzuki's e-Vitara electric vehicle (EV) is expected to fuel long-term growth, especially with strong export potential, analysts said.

JBM Auto Q3FY25 results: Net profit rises 8% to Rs 52 crore, sales up 4%

JBM Auto on Wednesday said its consolidated net profit increased 8 per cent to Rs 52 crore in the December quarter. The company had recorded a net profit of Rs 49 crore in the year-ago period, JBM Auto said in a statement. Sales, including other operating income, stood at Rs 1,396 crore in the third quarter of the current fiscal year, up 4 per cent compared to Rs 1,346 crore a year ago. The company said its board of directors in a meeting on October 28 last year, recommended the sub-division of existing equity share having a face value of Rs 2 each into equities with face value of Rs 1 each. This sub-division has been approved by the company's shareholders. Shares of the company on Wednesday ended 2.7 per cent up at Rs 1,401.05 apiece on the BSE.

Tata Motors Q3 results: Net profit falls 22% to Rs 5,451 cr on discounts

The company's profit fell to Rs 5,451 cr ($630 million) in the quarter from Rs 7,025 crore a year before

Bajaj Auto gets mixed reactions from brokerages after muted Q3 results

Despite the strong export performance, the overall Q3 results were seen as somewhat lacklustre, leading to mixed reactions from brokerages

Hyundai Q3 results: PAT falls 19% to Rs 1,161 cr, revenue at Rs 16,648 cr

Hyundai Motor Company on Tuesday said its consolidated profit after tax declined 19 per cent to Rs 1,161 crore for the third quarter ended December 31, 2024. The auto major had reported a profit after tax (PAT) of Rs 1,425 crore in the October-December period of last fiscal. Total revenue from operations declined to Rs 16,648 crore in the third quarter as against Rs 16,875 crore in the year-ago period. Shares of the automaker were trading 0.24 per cent down at Rs 1,639.55 apiece on BSE.

Maruti Suzuki Q3 preview: Profit may climb up to 23%, revenue by 17% YoY

On the bourses, at 12:45 PM, Maruti Suzuki share was trading 0.21 per cent lower at Rs 11,965.15 per share. In comparison, BSE Sensex was trading 1.01 per cent higher at 76,128 levels

Bharat Mobility Show ends, govt to seek view on making it annual affair

Bharat Mobility Global Expo 2025 came to a close on Wednesday after witnessing around 200 product unveils across automotive, components and technology, with the government planning to seek industry views to make it an annual affair. As per the organisers, the second edition of the event saw participation from over 1,500 exhibitors and footfalls of over 8 lakh people, making it one of the largest mobility events globally. "We saw over 200 product unveils over a period of five days which is a record in itself," Department of Commerce Additional Secretary Rajesh Agrawal told reporters here. Prime Minister Narendra Modi inaugurated the Expo at Bharat Mandapam on January 17 in the presence of Union ministers Nitin Gadkari, H D Kumaraswamy, Jitan Ram Manjhi, Manohar Lal, Piyush Goyal and Hardeep Singh Puri, and leaders of the automobile sectors. Electric vehicles hogged the limelight during the Auto Expo at Bharat Mandapam with passenger vehicle market leaders Maruti Suzuki and Hyundai .

Future of mobility belongs to India: PM Modi at Bharat Mobility Expo

Prime Minister Narendra Modi on Friday said future of mobility belongs to India that saw an unprecedented sale of 2.5 crore vehicles a year, and attracted USD 36 billion foreign direct investment in just four years. Addressing a gathering after inaugurating the Bharat Mobility Global Expo 2025 at Bharat Mandapam here, the prime minister also emphasised that India stands as an outstanding destination for every investor looking to shape one's future in the mobility sector. The five-day expo which is being held across three venues -- Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida -- is expected to witness over 100 new launches across automobiles, component products and technologies. India's largest auto expo, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and ...

PM Modi inaugurates Bharat Mobility Global Expo; over 100 launches expected

Prime Minister Narendra Modi on Friday inaugurated the Bharat Mobility Global Expo 2025, the largest mobility expo in India, which is expected to witness over 100 new launches across automobiles, component products and technologies. The five-day expo is being held across three venues: Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida. Modi inaugurated the Expo at Bharat Mandapam in presence of Union ministers Nitin Gadkari, H D Kumaraswamy, Jitan Ram Manjhi, Manohar Lal, Piyush Goyal and Hardeep Singh Puri, and leaders of the automobile sectors. The Bharat Mobility Global Expo 2025, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers -- under a single umbrella. With a theme "Beyond Boundaries: Co-creating Future Automotive Value Chain", aiming

Surpassed Japan, now aim is to become no 1 in auto segment: Gadkari

Union minister Nitin Gadkari on Thursday highlighted the growth of the country's auto sector in the past few years, during which it became the third biggest player in the segment, and said the aim is to become number one. "...our number was seventh in the world but we are third in the automobile sector... we surpassed Japan and now our number is third," Union Road Transport and Highways Minister said while addressing a function at National Automotive Test Tracks (NATRAX) here. "The size of the USA automobile sector at the top (of the table) was Rs 78 lakh crore industry size, while that of China was Rs 47 lakh crore," Gadkari said. "When I took charge of the minister. The size of the industry was Rs 7.5 lakh crore and today its size is Rs 22 lakh crore. And this is the industry, which has created 4.5 crore jobs till now -- the highest in the country. "This is the automobile industry, which is giving maximum revenue as a part of GST to the state government and Bharat Sarkar," he ...

After record sales in 2024, Mercedes plans to open 20 new outlets in India

Rapid economic growth in India has wrought a fundamental shift in attitude towards luxury purchases among its younger generations

Budget 2025: IESA asks govt to tax all new tech batteries at 5% GST

India Energy Storage Alliance on Wednesday said batteries, irrespective of technology type, must be uniformly taxed at 5 per cent GST like electric vehicles to support the emerging sector. Ahead of the Union Budget, India Energy Storage Alliance (IESA) President Debi Prasad Dash told PTI that the government may consider protecting domestic cells and battery component manufacturers in the wake of an increase in imports of lithium-ion cells, which has risen to Rs 24,000 crore in FY24 from Rs 18,000 crore in FY23, especially from China. There is a disparity in the tax structure of batteries, he said, adding GST for lithium-ion batteries is 18 per cent, but other chemistries, like lead acid, sodium, and flow batteries and others, are at 28 per cent. On the other hand, for electric vehicles, the GST is 5 per cent. "So, as an industry, we need support to this emerging sector, and all new technologies must be taxed at 5 per cent, and there should not be any difference between different ...

Advik to acquire German braking system manufacturer Powersports MTG

Global automotive components maker Advik on Tuesday said it will acquire German mechanical and hydraulic braking system manufacturer Powersports MTG for an undisclosed sum. The acquisition will create additional expertise for Advik in premium motorcycle safety components, which will also drive technologies in the large segment of ICE (internal combustion engine) and electric-powered commuter motorcycles and scooters, it said. The buyout brings Advik into the list of advanced brake system suppliers, aligning with its growth trajectory, and would help the company establish its footprint in Europe, from where it can expand and service its customers at its doorstep, Advik said. Besides, the acquisition will also expand its product range and customer base, said Advik, which is aiming to enhance the development of next-gen braking solutions. "This acquisition of the two-wheeler braking system of MAGURA, not only brings advanced technology for hydraulic braking and clutch systems to a lar

NXP could make up to 10% of revenue from India by 2030, says country head

NXP India head Hitesh Garg said that India's growing automotive and industrial sectors are expected to boost the company's sales in the region

Tender bottlenecks apply brakes on India's electric bus transition

E-bus penetration witnesses minuscule increase last year despite subsidies

Assembly lines adopt flexible robotics to meet rising consumer expectations

These systems can be deployed across various industries ranging from pharmaceuticals, and consumer goods to the automotive sector

M&M, TVS & Uno Minda among top picks by Nuvama ahead of December auto sales

Nuvama analysts said December is expected to bring encouraging results for the industry. PVs are predicted to achieve double-digit growth, propelled by strong performances from M&M, Maruti & Toyota

Osamu Suzuki, who brought the Japanese automaker to India, dies at 94

Suzuki, who died on Christmas Day of lymphoma, played a key role in turning India into a flourishing auto market

China's BYD slams reports of poor conditions at Brazil's factory site

A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at smearing China and Chinese brands. Earlier in the week, a task force led by Brazilian prosecutors said it had rescued 163 Chinese nationals it said were working in slavery-like conditions at the site. A video from the Labour Prosecutor's Office of dorms housing the workers showed beds with no mattresses and rudimentary cooking facilities. A BYD spokesperson, Li Yunfei, vehemently objected in a statement posted Thursday on his Weibo social media site. In the matter of smearing Chinese brands, smearing China, and attempting to undermine the friendship between China and Brazil, we have seen how relevant foreign forces maliciously associate and deliberately smear, it said, also criticizing media reports about the situation. BYD, which stands for Build Your Dreams, is one of the world's largest produc

GST on old used cars only when sale price higher than depreciated value

A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said. The GST Council in its meeting last week decided to prescribe a single rate of 18 per cent on sale of all old and used vehicles including EVs, earlier leviable at different rates. If an individual sells old and used car to another individual, GST would not be applicable. Sources said where the registered person has claimed depreciation under Section 32 of the Income Tax Act 1961, GST is payable only on the value representing the margin of the supplier, that is the difference between consideration received for the supply of such goods and the depreciated value of such goods on the date of supply. "Where such margin is negative, no GST is payable," a source said. For example, if a registered person is selling an old and used vehicle to any person at Rs 10 lakh, whe