The Supreme Court has sought a report from the Uttar Pradesh Police regarding allegations that Ashish Mishra, son of Union Minister Ajay Mishra, influenced witnesses in the Lakhimpur Kheri violence case. The court directed the Lakhimpur Kheri superintendent of police to file the report after a complaint was made by advocate Prashant Bhushan, representing the complainants. Bhushan claimed to have an audio recording of an attempt to influence witnesses and alleged that Mishra attended a public meeting in violation of his bail conditions. Mishra, through his lawyer, denied the allegations and stated that he was being targeted unnecessarily. The court has also asked for the authenticity of the material presented to be verified.
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
Audi plans to focus the Indian market, including deepening market penetration and increasing sales volume.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
However, the company has not provided a timeline for the launch of the small electric car.
MSIL, which currently has a subscription service that allows customers to lease its petrol-run and strong hybrid vehicles on a flexible, long-term basis without ownership commitments, will introduce a leasing service as well.
The Supreme Court on Monday gave bail to ex-Union minister Ajay Mishra's son Ashish Mishra in the case related to the 2021 Lakhimpur Kheri violence that claimed eight lives, and restricted his movement to Delhi or Lucknow.
Auto majors report positive sales figs for November.
'IndiGo's position in this argument will depend on whether it has registered '6e' as a trademark.'
The company is eyeing sales of 8,000 units per month for the Kylaq, which starts at Rs 7.89 lakh (ex-showroom) and boasts 96 per cent localisation.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
After a successful tie up in traditional ICE and strong hybrid models, Suzuki and Toyota are now set to take their partnership to the next level: the electric vehicle segment. Both the Japanese auto giants recently announced a plan to produce Suzuki eVX-based SUV which will be sold under Toyota brand across the globe. This electric SUV, bearing Toyota's logo, will go for production at Suzuki Motor Group (SMG) facility in Hansalpur, Gujarat beginning the spring of 2025, marking the first EV launch for both companies in India.
Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27 (FY27). Over the next three years, the company will deploy Rs 37,000 crore, including its auto business, farm business (Rs 5,000 crore), and service business (Rs 5,000 crore).
Maruti Suzuki India is targeting markets like UAE, Saudi Arabia, Chile, Mexico and other Latin American countries with its upcoming new version of compact sedan Dzire to accelerate exports as it eyes over 3 lakh units of overseas shipments this fiscal, a senior company official said on Wednesday. In the domestic market, the company hopes to enhance its share in the sedan market amid the passenger vehicles market shifting towards SUVs (Sports Utility Vehicles), with the new Dzire which is slated for launch next week. "We have been growing (exports) at a rate of about 11.9 per cent in the first seven months of the financial year and we hope to continue on that momentum.
Maruti Suzuki India on Tuesday said it has commenced export of its sports utility vehicle Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat's Pipavav port, the country's largest carmaker said in a statement. Fronx will be the first SUV from Maruti Suzuki stable to be launched in Japan, it added.
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 'MG Select' showrooms in the next six months.
Honda Cars India (HCIL) net profit dropped by 52.8 per cent year-on-year (Y-o-Y) to Rs 661.4 crore in 2023-24 (FY24), primarily due to deferred tax of Rs 359.8 crore, according to the annual results submitted to the Registrar of Companies (RoC) and reviewed by Business Standard. In FY24, the company's production increased by 16 per cent Y-o-Y to 134,807 units.
Compact sedans (Maruti Dzire, Hyundai Aura, Tata Tigor)' share in the overall sedan category grew from 68% in 2021 to 74.6% in 2024. Mid-sedans' (Honda City, Maruti Ciaz, Volkswagen Virtus) share declined from 26.2% in 2021 to 20.2%.
Passenger vehicle wholesales in India rose 11 per cent year-on-year in February, as sports utility vehicles continued to steer demand in the market, industry body SIAM said on Tuesday. The total passenger vehicle dispatches to dealers last month stood at 370,786 units, as compared to 334,790 units in the year-ago period.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
As there is a moderation in car sales, dealer stock levels across the entire industry have surged to alarming heights. However, the situation is under control at HMIL.
From attractive EMIs to assured buyback guarantees, luxury carmakers have lined up a slew of offers to woo customers this festival season to address dwindling sales amid rising inventories.
'We participate in the design/development of components and systems for electric vehicles, internal combustion engines, and hybrid vehicles.'
Toyota Kirloskar Motor (TKM) has reported a consolidated net profit of Rs 4,787 crore for 2023-24 (FY24) - more than three times the earnings recorded the previous year. This growth can be attributed to robust demand for its vehicles, particularly hybrid models and cross-badged cars from the Toyota-Suzuki alliance.
'We will have multiple engine options -- electric vehicle and internal combustion engine in diesel and petrol.'
'A lot of players such as Maruti and Hyundai are entering the market in the first and the second quarters of 2025.'
Stepping up the competition in the electric vehicle (EV) market, JSW MG Motor on Wednesday launched its electric crossover sport utility vehicle (SUV) Windsor with a new and 'aggressive' pricing model, an assured buyback plan, a lifetime battery warranty, and free public charging for one year. Under this new battery-as-a-service (BaaS) pricing model, customers can purchase the Windsor at a starting price of Rs 9.99 lakh (ex-showroom) and then pay a battery usage fee of Rs 3.5 per kilometre (km).
Automobile (auto) retail sales in India grew by an impressive 14 per cent in July compared to the same period last year, driven by a surge in the rural economy, good product availability, and product launches. While passenger vehicles (PVs) saw a 10 per cent increase during this period, inventory levels have surged to a historic high of 67-72 days in PVs, equating to Rs 73,000 crore worth of stock, according to the Federation of Automobile Dealers Associations (Fada). This poses a risk to dealer sustainability. Inventory levels in July 2023 were only 50-55 days, equating to a stock worth Rs 49,833 crore. In June 2024, inventory was between 62 and 67 days, with a stock value of Rs 60,000 crore.
Mahindra is coming up with the Thar Roxx. MG Motor India announced a third electric vehicle Windsor. Hyundai and Kia are expected to introduce updated versions of the Alcazar and Carnival respectively.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
The rise of startups and a thriving entrepreneurial culture in Tier-II and Tier-III cities is contributing to the increasing sales of high-end cars.
'The customer is fast changing, and she demands newer experiences that wealth can buy.'
Passenger vehicle retail sales rose to a record high in January driven by robust demand for sports utility vehicles, dealers' body FADA said on Tuesday. Passenger vehicle (PV) sales rose to 3,93,250 units last month, registering a jump of 13 per cent from 3,47,086 units sold in January 2023. "SUV demand along with the introduction of new models, greater availability, effective marketing, consumer schemes and the auspicious wedding season underpinned this strong performance," Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
The Punch.ev achieved the highest score point ever recorded by any vehicle to date, scoring 31.46 out of 32 for adult occupant protection and 45 out of 49 for child occupant protection.
Nearly one in two luxury cars sold in India in the first three months of 2024 was a Mercedes Benz, which achieved its best ever quarter (January-March), selling 5,412 units, up 15 per cent year-on-year (Y-o-Y) from 4,697 units in the previous year.
Toyota Kirloskar Motor on Tuesday said it is recalling around 994 units of its recently launched mid-sized sports utility vehicle Urban Cruiser Hyryder to fix a faulty seat belt part. In a statement, the company said it has initiated a voluntary recall campaign for certain Urban Cruiser Hyryder units to investigate for a possible issue with front seat belt shoulder height adjuster plate assembly. Around 994 vehicles of the specified models may have been impacted by this concern, Toyota Kirloskar Motor (TKM) said in a statement.
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