Page 7 - Automotive Industry

Hindustan Zinc launches Asia's first low-carbon zinc brand, EcoZen

The automotive industry is a significant consumer of zinc, primarily for galvanisation to protect steel from corrosion

Tesla veteran Jay Vijayan's startup Tekion secures $200 million funding

Automotive software platform gets backing of Dragoneer Investment Group at a valuation of $4 billion

Budget 2024: Green tech, vehicle scrapping aid; auto sector's wishlist

Budget 2024: During the Interim Budget presentation, Nirmala Sitharaman had highlighted that the Centre is keen on expanding and strengthening the electronic-vehicle ecosystem

Automobile exports from India rise 15.5% in June quarter, shows Siam data

Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year. Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal. Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year. Two-wheeler exports stood at 9,23,148 units in the first quarter, up 17 per cent as against 7,91,316 units in the year-ago period. Commercial vehicle shipments rose 8 per cent year-on-year to 15,74

India's car exports grow by 18.6% in Q1; domestic sales remain flat

The auto industry body sought incentives to promote EVs in Budget

'No link between XUV700 price cuts and UP EV policy': Mahindra & Mahindra

The automobile manufacturer said that the announced price cut of XUV700 is a business strategy that was pre-decided in a February meeting

Xiaomi to showcase its first electric car SU7 EV on June 9 in India

Chinese technology company Xiaomi might not proceed with launching SU7 EV in the Indian market just yet, reports suggest. It aims to gauge the interest of Indian consumers in its electric cars

M&M may surpass Tata Motors, Maruti Suzuki in PV segment in June: Nuvama

Raghunandhan NL, director at Nuvama, predicts a 13 per cent overall volume growth for M&M's automotive sector (including PVs, commercial vehicles, and three-wheelers), reaching 70,500 units

As vehicle sales hit brakes, manufacturers seek extended financing

Auto dealerships are grappling with a 60-day stockpile of four-wheeler inventory, which is imposing a financial burden due to the additional interest costs incurred during the extended holding period

Hyundai Motor India files draft papers to raise around $3 bn through IPO

If the listing proceeds as planned, this transaction would become the largest IPO in India's corporate history, surpassing the previous record set by the state-owned LIC's $2.7 billion listing in 2022

The green journey: Cleaner fuels driving one-fifth of PVs sold in India

Auto original equipment manufacturers (OEMs) have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs

Govt to allow JVs with Chinese firms if Indian partner holds majority stake

The central government may relax its stance on Press Note 3 of 2020, which requires companies from countries sharing a land border with India to obtain government clearance before investing

Hyundai Motor India prepares for IPO filing, potential to raise $2.5 bn

Hyundai Motor India IPO: Indian unit of the Korean automaker is expected to file a DRHP with Sebi within the next two weeks

Uno Minda zooms 18% after deal with Inovance Automotive for e-4W expansion

Uno Minda's stock rose following its announcement of a technical licence agreement (TLA) with Suzhou Inovance Automotive Co, Ltd, China

ARAI to invest Rs 500 cr over next 4-5 yrs to enhance H2ICE testing infra

The agency already has testing capabilities for ethanol 20 fuel-compliant vehicles

Popular Vehicles & Services Q4 results: PAT rises 40% to Rs 20 crore

Automotive dealership firm Popular Vehicles & Services Ltd on Wednesday reported 40 per cent year-on-year increase in Profit After Tax (PAT) at Rs 20.1 crore for the March quarter. The Kochi-headquartered company had posted a PAT of Rs 14.3 crore in the fourth quarter of FY23, according to a statement. Total income grew 4.6 per cent at Rs 1,372 crore as against Rs 1,311 crore in Q4 FY23, it said. The company said the total vehicles retailed during March quarter FY24 declined 10.2 per cent to 11,116 units as against 12,372 units in the year-ago period. The company, which is the country's second listed auto dealership chain, also said that out of net IPO proceeds of Rs 230 crore, Rs 192 crore, supposed to be used for debt reduction, has already been deployed in FY24. Popular Vehicles & Services got listed on exchanges on March 19 this year. "In FY24, the sales volume, excluding service business de-grew by 4 per cent, however the revenue increased by 14 per cent. The growth was ..

Indian small car exports thrive as domestic demand shifts to SUVs

Maruti Suzuki, Hyundai, Kia, Citroen, Volkswagen, Honda, Nissan, and Renault are finding markets abroad

Toyota reports booming profit, vows to invest to keep growth going

Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan's top automaker. Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday. The results exceeded than Toyota's own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9.4 million vehicles from 8.8 million vehicles in the previous fiscal year. Sales of hybrids performed well, although Toyota stressed it was working hard to offer various kinds of electric vehicles, including battery EVs, plug-ins and fuel cell models. A weak yen worked as a big plus for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. The U.S. dollar cost an average of 145 Japanese yen during the last fiscal year, up from 135 yen in the year before, according to

Election uncertainty could hurt Indian auto sales in May, says Fada

Analysts say concerns around how a new government's financial policies could affect peoples' income, and could discourage consumers from buying vehicles

Five per cent someone: What kind of ride is Tesla likely to have in India

Initially, Elon Musk's Tesla will address only 5-6% of India's light vehicles market. What kind of ride is it likely to have?