General Motors is looking at introducing an entry-level car to be positioned below the Chevrolet Spark, to drive up volumes in the Indian market.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
The race to commercialise driverless cars is far from over with experts predicting that a fully autonomous car will not hit the market until 2020 or later
GM will join a very short list of S&P 500 companies, including Hershey Co and American Water Works Co, with women serving as CEO and CFO.
Tata Motors has halved the volume outlook for its UK subsidiary Jaguar Land Rover Automotive (JLR) and warned of lower earnings as it sees the semiconductor shortage deepening in the September quarter of the current financial year, according to a notification issued by the company to the stock exchanges on Tuesday. The announcement caught investors unawares. They were hoping for a quicker recovery. Tata Motors' stock tanked 13 per cent (on July 6) from the day's high of Rs 358.10 and hit the lower circuit (Rs 311.45) in intra-day trades.
Leading automakers Maruti Suzuki India, Hyundai Motor, Kia Motors and Tata Motors reported sales growth in the domestic market in November, aided by robust offtakes amid the festival season. While Maruti Suzuki India reported marginal growth, Hyundai logged in its highest ever monthly sales in November. Others like Honda Cars India, Toyota Kirloskar Motor, Mahindra & Mahindra and MG Motor India also reported sales growth in November as compared with the same month last year.
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
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