Page 5 - Carmakers

Kia India eyes 10% sales growth this calendar yr as chip supplies improve

Automaker Kia India expects its sales to grow by 8-10 per cent this year as compared with 2022 on the back of improved chip supplies and introduction of the updated Seltos in the market, according to a senior company official. The South Korean carmaker, which sells models like Carens, Sonet and Seltos in the Indian market, sold a total of 3.4 lakh units in the domestic and export markets last year. "So last year our domestic sales were about 2.54 lakh units while exports stood at around 80,000 units. So we did about 3.34 lakh units overall. So this year we are looking at about 8-10 per cent growth," Kia India National Head (Sales and Marketing) Hardeep S Brar told PTI in an interaction. He noted that the company has outpaced the overall passenger industry growth in the first half of the year and expects to do the same in the second half as well. "For the first six months industry has grown at 10 per cent. We have grown at 12 per cent. So like every other year we have outpaced the .

What has become of Western carmakers' Russia assets after Ukraine invasion

Here is an overview of the fate of foreign carmakers' assets in Russia

Ford to cut hundreds of US salaried workers to boost profit, lower costs

The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial vehicles, said T.R. Reid, a company spokesman

Climate laws could price Americans out of EV market, BYD executive warns

BYD Co., China's homegrown company that's now become the world's hottest maker of electric vehicles, has a warning for the US

Foreign automakers get a second chance as India transitions to EVs

But with the advent of EVs, firms like MG Motor India Pvt, the local unit of China's SAIC Motor Corp., Renault SA, Nissan Motor Co. and Volkswagen AG may finally gain a better foothold

BMW launches its 2023 Z4 Roadster at Rs 89.30 lakh for Indian market

BMW will offer the Z4 in its M Performance trim, M40i. The car comes with a standard two-year warranty with unlimited kilometres

Trade deal: India's carmakers back zero duty on limited British imports

India is one of the most protected automobile markets where import taxes are among the highest in the world of any major car making nation

China's SAIC Motor plans to sell its stake in MG Motor to domestic entities

SAIC is in the advanced stages of talks with investors from different Indian companies, which include Reliance, Hero Group, Premji Invest, and JSW Group for equity sale

Electric bikes are breaking through in Germany, Europe's carmaking capital

Battery-powered two-wheelers will outsell traditional bikes in Germany for the first time in 2023, according to projections from the country's industry group

To match Indian aspirations, carmakers to launch 81 new vehicles this year

Carmakers are looking at new sub-segments in the SUV space and trying to expand their offerings to lure in more and more customers

Expect India to be Citroen's biggest growth driver outside Europe: CEO

French automaker Citroen expects India to be its biggest growth driver outside Europe as it looks to have 30 per cent of its total sales coming from international markets outside the continent by 2025, its global CEO Thierry Koskas said on Thursday. The company, which unveiled its all-new mid-sized SUV C3 Aircross, will introduce another new product next year as it seeks to have a presence in the core segments of the Indian market. "India is a key pillar of the Citroen strategy. It is a market that could very soon reach 5 million units (annually). We want to grow 30 per cent of our sales outside Europe (by 2025). India is a key pillar for that amongst other regions, like for example Latin America," Koskas told PTI here in an interview. At the moment, he said, "It (India) is a very significant operation and probably that will become more and more significant in the years to come". When asked about the sales targets in India, he said, "We do not communicate on numbers, but I can tell

South Korean carmakers' global market share falls to 7.3% in 2022

Local automakers accounted for 7.3 per cent of vehicle sales in the world's eight major markets last year, down from 7.7 per cent in 2021

Cobalt's battery-powered boom in 2022 on EV demand surge busts

Pound for pound, the batteries used in laptops, phones and tablets contain much more cobalt than EV batteries, and demand from the industry has fallen about 30% to 40% over the past year

Mercedes-Benz to drive 10 new models into India in 2023: MD & CEO

The company on Friday launched this year's first top-end vehicle: convertible AMG E53 Cabriolet 4MATIC+ that is priced at Rs 1.30 crore (ex-showroom) and can sprint up to 100 km/hour in 4.5 seconds

Carmakers may end up paying penalties for missing emissions targets: Report

CAFE scores are designed to encourage carmakers to focus on technologies that reduce CO2 emissions

Top Headlines: Double-digit growth for carmakers, Google-CCI tussle & more

Business Standard brings you the top headlines at this hour

Hyundai becomes 3rd largest carmaker, set to overtake Toyota, Volkswagen

While Toyota Motor Corp. and Volkswagen AG vie each year for pole position atop the global automobile industry, Hyundai has quietly slipped in behind them, surpassing General Motors Co., Nissan Motor

Elon Musk's Tesla loses 2 years of gains amid Twitter saga, demand fears

The stock closed down 7.2% at $177.59 in New York on Wednesday, dropping to its lowest since November 2020

Passenger vehicle makers cheer as sales jump in month-long festival season

Deliveries of market leader Maruti Suzuki India rose to 190,000 units compared to 130,000 units last year

Nissan lines up three SUVs for India entry; X-Trail launch confirmed

Juke, which was also showcased on Tuesday, is currently being evaluated for the Indian market