Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
Tata Motors recently cut the sales forecast of its luxury car brand, JLR, due to chip shortages, scaling down its production numbers from the earlier 120,000 units to 60,000-65,000 units by September, and leading to an almost 10 per cent fall in the company's stock. In May this year, Bosch India, too, had stated that chip shortfalls would impact its production, as supply chains were getting disrupted.
'Jaguar Land Rover will manage the long-term impact and implications of this decision.'
Czech automaker Skoda on Thursday globally unveiled its all new SUV Kushaq which would take on the likes of Hyundai Creta and Kia Seltos in the fastest growing mid-sized SUV segment in the domestic market. The model is the first production car as part of the company's India 2.0 project. Under the lead responsibility of Skoda Auto, Volkswagen Group is investing 1 billion euros in its model campaign in the Indian subcontinent to strengthen its presence.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
To merge arms, sell stake in combined entity to CIE for Rs 770 cr; to use proceeds to buy 13.5% in Spanish firm for Rs 740 cr
From watches and sunglasses to trekking/fitness bicycles, online shoppers seem ready to loosen purse strings.
With only a handful of models by a few manufacturers including Tata Nexon, MG ZS, Hyundai Kona, among others, the segment has remained under tapped.
Kia has entered the Indian market at a time when the domestic automotive industry is facing the worst slowdown in more than two decades.
From trusted bureaucrat, to Wharton, MNC executive to businessman, and now politician, the man in charge of two weighty ministries is a unique all-rounder with specialist knowledge.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
Mukund Dange, 43, general manager-purchase in Chennai Tamil Nadu tells us how he is making the most of the lockdown.
Amid a slowdown in the automotive industry, the Automotive Component Manufacturers Association of India asked the government to continue providing export incentives to domestic manufacturers, while expressing concern over India's growing number of free trade agreements.
The Central Board of Secondary Education (CBSE) announced on Tuesday the schedule for classes 10 and 12 board exams which will begin on May 4.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
Under the deal that gives Fusion Automotive exclusive marketing and distribution rights within the country, it will first start with a range of commercial vehicles in the fourth quarter of 2013, according to media reports.
The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Sundram Fasteners is planning to grow the Chinese venture further expanding on its product range covering fasteners, bearing housings, machined castings.
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
During the meeting with Finance Minister Nirmala Sitharaman, the auto industry broadly presented factors such as issues regarding availability and affordability of financing, increasing cost of acquisition of vehicles and change in axle load capacity for commercial vehicles that have hurt demand.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
Its superior formability makes it suitable for creating relatively complex shapes.
The new car market is estimated at around 30,000 units a year in sales in a good year, whereas the used car market for luxury vehicles is estimated at around 60,000 cars annually.
Automotive aftermarket has touched the Rs. 33,000-crore mark, but fake spare parts are costing the government Rs. 2,200 crore a year.
'There is pent-up demand for cricket after last year when no tournaments were played on Indian soil due to the pandemic.'
The two companies will acquire 70.4 per cent stake in CarWale. They, however, declined to specify the investment being made.
The two companies will acquire 70.4 per cent stake in CarWale. They, however, declined to specify the investment being made.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Satyam Computer Services Ltd is launching an automotive development centre in Detroit to consolidate its base in the automotive industry.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
Production at every automotive facility, offices of information technology firms and retail establishments in the state remained shut on Tuesday as a mark of respect to the late chief minister.
Investors have been concerned about M&M's diversification into non-core businesses but the company is taking the right measures to build their confidence.
Lightning Logistics, Shreyas Shibulal's start-up, rents out electric scooters along with the riders for last mile delivery.
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