After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. "We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty.
While offering discounts of up to Rs 1 lakh, Hyundai, Ford and Honda are also hiking prices by 1-2% from January, Swaraj Baggonkar/Business Standard reports from Mumbai.
The transaction - the second one in less than a year - is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.
India has exported passenger vehicles worth $268 million to the US in three months ended June
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
The new year will see a line of hatchbacks (including compact SUVs) hit the Indian roads. Rajesh Karkera/Rediff.com offers a peek.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
There is another common trend among these three players - they are all registering a volume decline in a market that is expanding at over 8 per cent
It manufactures cars ranging from entry-level hatchbacks to sedans to sport utility vehicles to vans to pick-up trucks. It also has a range of electric and hybrid vehicles
India's corporate honchos spent a considerable time and energy this year at deal tables and executed over thousand transactions involving sale or purchase of equity stakes in their companies. On an average, every single day of 2007 saw about three deals being announced. This included a total of 1,047 merger and acquisitions as well as private equity deals for a total value of $68.32 billion (about Rs 2,75,000 crore).
He says that while 30 per cent of parts must be locally sourced, the supply doesn't yet exist in India to support that
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
The company, which had launched the model last year, has so far sold more than 60,000 units of the SUV in the country.
The new financial year started on a mixed note for car makers.
Stunning cars from the Mumbai International Motor Show.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
The appliance maker seeks to buy Motorola's ailing cell-phone division to complement its telecom business; critics say it's not a good fit
"The small car will be our new model and it will be rolled out by early 2010," Ford India Executive Director Nigel E Wark told reporters in Kolkata. He said the company is yet to decide on the target segment of the small car, but added that it would not compete with small cars like Nano from Tata Motors' stable.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
If all goes well, Ford India will park its second manufacturing unit right next to Tata Motors' Nano factory at Sanand.
Tata Motors, India's largest commercial vehicle maker, has postponed plans for an overseas equity issue and sale of investments to repay the $3 billion bridge loan it took in June last year to acquire the Jaguar and Land Rover brands from Ford.
General Motors aims to grab at least 5 per cent market share in India within the next decade.
Auto maker Ford India on Thursday said it has hiked prices by 1-5 per cent on different models with immediate effect to offset rising input costs.
American auto giant Ford is likely to retain a stake and continue supplying engines and some of the components for Jaguar and Land Rover, even after the sale of the two British luxury brands, media reports said in the United Kingdom.
Sanand has catapulted into the big league of automobile industry hubs.
The revised prices enhances the accessibility of these outstanding products, which offer segment-first safety features and class-leading technologies
Maruti sold 191 units of SX4 sedan in January 2014.
China's biggest carmaker, which own brands like Maxus, MG, Roewe and Yuejin, plans to invest $1 billion in India manufacturing unit, reports Swaraj Baggonkar from Mumbai.
General Motors India on Thursday unveiled its new mid-size sedan Opel Vectra in the premium car segment with ex-showroom price of Rs 15.99 lakh (Rs 1.59 million) in Delhi and Rs 16.9 lakh (Rs 1.69 million) in Mumbai.
Nissan and Renault say they will compete with new models, especially small cars, and by growing their dealer network.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
Maruti Suzuki India (MSI) on Monday reported a 29.1 per cent rise in total sales in October.
However, notable absentees from the expo will be Honda, Toyota, Ford, BMW, Audi, Lexus, Volvo and Jaguar Land Rover along with two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Co.
Take out Maruti Suzuki and Honda, and the auto sector's prospects suddenly don't look all that rosy.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Many say Tata Motors has perhaps paid the price for being too ambitious.
The partnership will look to expand Ford's reach in the fast-growing Indian market and improve M&M's access to global markets
India is a market for low-priced cars with low running costs. The global majors don't have models that fit the bill; only Maruti and Hyundai have successful entry-level models, observes T N Ninan.
Clock 11% growth in the first 11 months of 2022.
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