Within five months of its launch, General Motor India on Tuesday rolled out a 1.6-litre model of its premium mid-size sedan Chevrolet Optra as part of strategy to double sales to 30,000 units next year.
The company also plans to launch luxury sedan Chevrolet Cruze in September and a mini car by the end of this year. Earlier this week, the company had said its India operations will remain unaffected despite its parent filing for bankruptcy protection, but it is currently facing difficulties in raising funds for completing its engine manufacturing plant at Talegaon in Maharashtra.
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
Tata Motors' 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) results were better than Street estimates, with strong showing across Jaguar Land Rover (JLR), as well as commercial and passenger vehicle businesses in the domestic market. The company posted its highest consolidated top line and operating profit, with growth of 35 per cent and 46.5 per cent, respectively, over the year-ago quarter. While the top line was aided by a 49 per cent growth in the JLR unit, all key segments reported margin expansion.
The car is powered by a 1-litre petrol engine.
Fuel price hike will impact demand going forward.
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.
Dynamics of auto business will change if the government ends diesel subsidy to passenger vehicles.
GM has also exited from four other international markets, including Russia and Europe.
The judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.
ISRO's vendor policy and quality control processes are under scanner.
RIL is also more profitable than Tata Motors.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
With the domestic auto market going on a downhill slide, Tata Motors and Maruti Suzuki have cut production as the automobile industry braces up for a single digit sales growth this fiscal.
Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 3,47,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. Overall passenger vehicle (PV) dispatches from companies to dealers stood at 334,537 units in May 2023.
Segment has been rather sluggish due to high fuel and input costs coupled with high interest rates and negative market sentiments.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
Senior officials with the multinational car manufacturer say there is a need to improve the brand perception and are revising an earlier after-sales package to spruce it up.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
In more than one way, it's a setback for the DMK and Chief Minister Stalin in political terms. The electoral fall-out, if any, will have to wait until the next summer, only when assembly elections are due in the state, explains N Sathiya Moorthy.
The GM-SAIC tie up follows GM India-Reva collaboration to launch electric vehicles in the market.
Powerful cars like the Camaro and Corvette might be sold via special boutiques in small numbers.
The car has a more powerful engine compared to its competitors and give a mileage of 18kmpl.
Kudankulam will house the largest nuclear power plants in India and the flagship project of Russian-Indian technological and energy cooperation.
Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. The export plans will coincide with the commercial launch of the Curvve - an electric SUV concept that broke cover on Wednesday, in two years from now, Shailesh Chandra, MD, Tata Motors PVs and Electric Mobility, told Business Standard. "We are actively thinking of the international markets and we would like to go with a portfolio of products. "We have identified a few markets and in a couple of years, we should commence the same," said Chandra.
'The PAYD model adjusts the premium based on your driving habits. If you drive less, you pay less.'
Health insurance premium growth has slowed after touching record highs during the Covid-19 pandemic due to tapering demand from retail consumers amid affordability issues. According to General Insurance Council data, health insurance premiums grew by 10.44 per cent year-on-year (Y-o-Y) in the Apr-Jan period of FY25 in comparison with 20.79 per cent in the year-ago period. It was around 23.57 per cent in FY23, and 25.89 per cent in FY22.
Contrary to expectations that car sales dip in December, auto majors Maruti Suzuki and Hyundai Motor India are poised to grow 30 per cent in sales (the two companies control 72 per cent of the domestic market). General Motors is looking at 70-80 per cent increase in sales.
GM president and managing director Lowell C Paddock said the company is bullish on passenger vehicles with some commercial applications and is open to opportunities in the space.
The version is GM India's first clean-burning liquefied natural gas car in India, built at company's plant at Talegaon in Maharashtra.
Karl Slym was affable, gregarious and always motivated. Even in moments of crisis, Slym's sense of humour remained intact.
Multi-purpose vehicle segment has seen some serious activity in the past one year.
Contrary to the General Motors India's expectations of starting work at its beleaguered Halol plant from Monday, the deadlock over wage revision seems far from over.
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
The engine of this car is now Bharat Stage IV compliant.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
