Page 2 - Automotive

India major centre of gravity for automotive major Stellantis: Co official

India has become a major 'centre of gravity' for global automotive major Stellantis as it expands internationally, especially with digital and software hubs in the country supporting the organisation's technological future, according to a senior company official. Stellantis, which came into existence after the merger of Fiat Chrysler Automobiles and the French PSA Group in 2021, currently sells its Jeep and Citroen brands in the country. It has three manufacturing plants, two R&D centres and two ICT hubs in India. "We have got 4,000 employees in the region (India and the Asia Pacific), and the vast majority of those employees are right here in India. We're creating jobs here, two R&D centres and two IT centres. It's not only creating for India, but it's also creating for the world," Stellantis, India and Asia Pacific (IAP) Region, Head of Sales, Marketing and Regional Operations, Billy Hayes told PTI. The validation for the vehicles sold outside of India is done here, given ...

ALD Automotive completes acquisition of LeasePlan, makes local mgt changes

With this deal, the combined entity now has a total of 3.31 million vehicles managed worldwide

High inflation, lower-demand drive car sales in Pakistan down by 84% YoY

For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022

Results preview: Ebitda margins of auto cos to take the wheel in Q4, again

Analysts indicate that in future, gross margins might come under pressure

Improving outlook, upgrades to keep wheels turning for auto companies

In addition to volumes, margins, too, are expected to expand

Non-white car sales see marginal rise, but white still top choice in India

Car sales black, grey, blue, red, green, and gold rose by a few percentage points in 2022

Better grip on future for tyre stocks: Tread on easing input cost, demand

Higher raw material prices had punctured sequential margins of major tyremakers

Electric sports bike firm Ultraviolette get funding from Qualcomm, Lingotto

Bengaluru-based start-up will launch motorcycle on November 24, aims to be in international markets

House panel moots spl projects to fill 29 mn skill gap in automotive sector

Calls for involving the industry to bridge the huge gap

Bharat Gears trades ex-date for 1:2 bonus; stock zooms 20%

The management is cautiously optimistic of growth in Indian markets for automotive components, agricultural machinery and construction equipment

Visteon to come up new mfg unit in India; sets sight on West and North

This is in addition to the expansion plans at its existing manufacturing unit in Chennai

Dealers and automakers have a tumultuous relationship, says FADA President

Says manufacturers' financial clout has led to inequitable contracts between the two

Vehicle sales up 8% in Aug, two-wheelers cause for concern: FADA

Tractor sales decline 32% despite good monsoons; three-wheelers do modestly compared to 2019

Financials lead earnings in Q1; metal & mining, IT firms among laggards

BFSI companies together accounted for 48 per cent of the incremental growth in corporate profits on a year-on-year (YoY) basis in the quarter

Looking at domestic flows, peak pessimism hasn't reached yet: ICICI Sec CIO

'Foreign institutional investment (FII) is expected to reverse when these macro headwinds stabilise for a few months'

Vehicle sales up 27% in June, still away from pre-Covid levels: FADA

However, the overall automobile retail sales declined 8.68% compared with the corresponding month in June 2019, indicating that the broad-based recovery has yet to kick in

Auto service firm GoMechanic launches Rs 30 cr partner stock option scheme

Programme, which covers workshops, retailers, distributors and consultants pan-India, will have a 4-year vesting duration with yearly vesting at 25% and a cliff period of a year

Volkswagen drives in Polo Legend Edition to mark 12 years of hatchback

The Polo Legend edition is priced at Rs 10.25 lakh (ex-showroom) onwards

Confident of retaining leadership position in SUV segment in 2022: Hyundai

Hyundai Motor India looks to maintain its leadership in the segment this year as demand for its models like Creta and Venue continues to be robust

Battery-powered vehicles to concept cars: Wild wheels at IAA Mobility Show

Auto brands were already questioning the relevance of car shows before the novel coronavirus arrived