Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May on the back of strong demand for passenger vehicles across regions, even as the global semiconductor shortage continued to impact production. Mahindra & Mahindra, Kia India, Toyota Kirloskar Motor, Honda Cars and Skoda also witnessed strong demand for their models last month. The month of May also witnessed Tata Motors race ahead of Hyundai in terms of domestic wholesales.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
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The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
Hyderabad will be the first time a major international racing event
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
Paytm CEO Vijay Shekhar Sharma said on Wednesday that the company's share market performance has been in line with that of global peers in the sector over the past six months due to macroeconomic factors. "Macro factors like quantitative easing, free money due to US monetary policy and other parameters led to a spook in the market in terms of pricing the IPO. "Paytm's shares have received a similar response to that of global peers in the last six months...But that is not a complete reasoning.
Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through 'Hyperpure' and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company's annual general meeting, Dutta said the move was part of strategy to focus "only on areas that have the potential to become meaningfully large businesses ten years from now". In FY22, he said Zomato was able to achieve strong top line growth while keeping its "adjusted EBITDA burn under control", despite multiple challenges such as disruptions due to Covid-19 pandemic, macro-economic uncertainty, rising inflation, fuel prices, among others.
State School Education Minister Anbil Mahesh Poyyamozhi said he and Public Works Department Minister EV Velu consoled the parents of the girl whose body was found in the school hostel on July 13.
A statue of late Tamil Nadu Chief Minister MG Ramachandran was on Tuesday found damaged in Thanjavur, with the opposition All India Anna Dravida Munnetra Kazagam strongly condemning the incident and calling for action against the "anti-social elements" behind the vandalism.
What technologies do you fancy in your new car? Here are some popular cars in India with the most sought after technologies.
There is also lack of mandate from the government on adoption of electric mobility after ambitious talks of moving all new automobile sales to electric by 2030
Maharashtra is looking for potential investment from the US electric car major Tesla in the state and has held discussions with the company, weeks after Tesla revealed its plans to enter the Indian market.
Tata Motors on Monday said its subsidiary and Ford India have inked a pact with the Gujarat government to acquire FIPL's Sanand vehicle manufacturing plant. Tata Passenger Electric Mobility Ltd (TPEML) -- a subsidiary of Tata Motors -- and Ford India Pvt Ltd (FIPL) have today signed a memorandum of understanding (MOU) with the Gujarat government for the potential acquisition of FIPL's Sanand vehicle manufacturing facility, including land, buildings, vehicle manufacturing plant, machinery and equipment, Tata Motors said in a regulatory filing. The MoU also includes the transfer of all eligible employees of FIPL Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, it added.
M&M was the top gainer in the Sensex pack, zooming over 5 per cent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel. Nifty rallied 169.80 points to 18,161.75.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 retails when compared to May 2019 reveal that sales are still not on a growth trajectory as overall retails were down by 10 per cent.
The government has initiated a process to define standards and guidelines for electric charging stations.
The company, which unveiled its compact multi-purpose vehicle Triber in India, is bringing the MPV only in petrol engine option as part of the strategy even as it prepares to introduce electric vehicles in the near future.
US hedge fund Tiger Global and Japanese investment giant SoftBank have trimmed their investments in Indian start-ups by over a third - from $3.8 billion in the second half of 2021 to a mere $1.08 billion in H1 2022, according to data from Venture Intelligence. While SoftBank's investments in India dropped from $1.9 billion in H2 2021 by more than a fifth to only $0.33 billion in H1 2022, that of Tiger Global fell from $1.92 to $0.74 billion in the same period. Private equity (PE) fund trackers point out that this year most of the deals that Tiger Global has invested in are in the early stage (up to series D), and only a few are in the series E and above.
German Car maker Audi plans to offer cars that can do 400 km on a single charge, says Ajay Modi.
Upon completion, the factory will create almost 10,000 jobs and will initially have an annual capacity of 2 million units.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
German luxury car maker Audi on Thursday launched three all-electric SUVs under its e-tron range with prices starting from Rs 99.99 lakh kicking off its electrification journey in the country. The three all-electric SUVs -- e-tron 50, e-tron 55 and e-tron Sportback 55 -- are priced at Rs 99.99 lakh, Rs 1.16 crore and Rs 1.18 crore respectively (all prices ex-showroom), Audi India said in a statement. Commenting on the launch of the e-tron brand in India, Audi India Head Balbir Singh Dhillon said, "we are launching not one, but three electric SUVs that begin our electrification journey." The three electric SUVs are "the perfect confluence of luxury, zero emissions, performance and everyday usability", he added.
The trend is expected to gain momentum as global vehicle makers in India, particularly from Japan, ride on hybrids to meet the more stringent fuel efficiency norms that take effect in 2022.
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
Eyes investments of Rs 31,000 cr in research and manufacturing of electric vehicles
Customers of MG's upcoming mid-size SUV will benefit from Jio's widespread internet outreach, along with the connectivity, not only in metros but also in small towns and rural areas, MG Motor said in a statement. "Technology and innovation are leading the connected car space in the automobile industry.
It takes a while to get used to the constant and instant supply of power that is the case with EVs, and handling the S1 Pro when it takes a corner or makes a turn can be tricky, says Pavan Lall.
In doing so, Bajaj has become the first internal combustion engine two-wheeler company to launch an all-electric two-wheeler in India.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
Do not trust any incoming phone calls or mails that ask you to install any file or programme, warns Niranjan Upadhye, general manager-fraud risk management, Worldline India.
Suzuki will produce EVs for the Indian market and will supply some of them to Toyota, which will provide technical support.
Future strategy will not just revolve around EVs: Maruti Suzuki's Ayukawa. Maruti Suzuki's MD&CEO says electric vehicles cannot be a solution outside the cities.
IT major Tata Consultancy Services (TCS), in its Q4FY22 results, said the company's banking, finance services and insurance (BFSI) crossed the $10 billion milestone. This includes revenue from financial products, services and platforms. For Suresh Muthuswami, who recently took over as Chairman of North America, one of the focus will be to grow this percentage going ahead. The first step to grow the US market is hiring. Muthuswami said that the company will be hiring more in the US, especially from the campuses. In FY22 TCS hired over 7,000 people in the US and going ahead too the numbers will be similar.
During the six-day-long event, automakers have planned 10 global launches, 26 India specific launches, six concept vehicles, seven facelifts and 21 vehicle unveilings.
'What volumes will we have with a Rs 1 lakh product?' 'As a company, we will not restrict it to a segment.'
'Markets are not prepared for a slowdown as the current expectation is of the continuation in earnings momentum.'
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
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