The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March.
Auto major Mahindra & Mahindra said it has decided not to acquire the over 95 per cent stake in the beleaguered PSU firm Scooters India at present, as it has "various things" to do.
Mercedes-Benz plans to sell more compact cars.
Automobile dealers' body FADA has urged the government to formulate a task force to monitor the compensation structure being worked out by Ford India for its dealer partners across the country. In a letter to Heavy Industries Minister Mahendra Nath Pandey, FADA president Vinkesh Gulati also requested the government to instruct Ford India to keep the industry body in the loop regarding the compensation structure for the dealerships. "We humbly request your Ministry's intervention... Create a task force which takes day-to-day updates from Ford India to monitor the compensation plan for automobile dealers and dealership employees," Gulati said in the letter.
On Thursday, the prime minister is scheduled to hold one-on-one meetings with top five American CEOs. Two of them are Indian Americans -- Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The three others are Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.
Four XUV700s entered the challenge and all four recorded over 4000 km in 24 hours, says Rajesh Karkera.
While the latest, fourth-generation Swift makes no pretence of being a performance car or the last word in luxury, what it does stand for is amply evident, notes Pavan Lall.
Spoilt for choice? More car brands heading this way.
The Indian automotive industry has the potential to reach a size of $33 to 40 billion by 2015 from the current $6.7 billion, chairman of 'CII Auto SCM India 2004,' M Lakshminarayanan, said in Chennai on Friday.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
India and China will be among the top five destinations for merger and acquisition activities across diverse sector over the coming year, according to a report by global consultancy Ernst & Young.
With the Indo-Pak dialogue in tatters and the respective armies exchanging fire across the Line of Control, an unexpected opportunity has presented itself for boosting trade between the two countries.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
Jaguar and Land Rover, the UK based carmakers, are to set up dealership networks in India soon as they seek to use ties with Tata Motors, their new owner, to find new markets.
After the latest spike in crude oil prices, petrol prices could potentially go up to around Rs 90 a litre making a dent in the consumer's wallet. This, the analysts fear, will push the cost of vehicle ownership in the country, further reducing the demand potential for the industry.
However, the group, which had earlier planned to invest Rs 2,000 crore (Rs 20 billion) for expanding operations, is still putting that on hold as the VAT refund issue with the Maharashtra government remains unresolved.
PSA Peugeot Citroen, Europe's second-largest car producer, will soon take a final call on its India plans, as senior teams from the company hold talks with state governments for a manufacturing facility.
Auto manufacturers are planning for global premiere of 15 cars at the Indian Auto Expo 2014.
Glass company Asahi India Glass Ltd on Friday said it would invest Rs 50 crore (Rs 500 million) in setting up a plant to manufacture automotive safety glass in Chennai.
Market research firm GfK Automotive's Barometer of Automotive Awareness and Imagery Study found that Chinese and Indian auto-makers could face a similar purchase consideration curve to Korean vehicles when they launched in the US.
Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
With investments of $3 billion and a new national testing-R&D facility, the city is putting India on the global auto map.
The company is developing a new model in its research and development centre in the United Kingdom, which will primarily address the defence needs of most countries around the globe, including India, said a senior executive from Land Rover.
The new hires will work in cutting-edge domains of artificial intelligence, machine learning, IoT, natural language processing, camera technology and 5G networks.
Kizashi, Suzuki's first entry into the all-wheel-drive sport sedan segment, arrived in dealer showrooms of North America in December last year and the company has so far sold about 300-400 units in the country.
The exports of passenger cars from India rose 27.88 per cent in April, while that of motorcycles zoomed by 95.71 per cent as the country's automakers continued to cash in on the recovery in the global automotive market.
Among the cars unveiled at the Auto Expo on Wednesday was Mahindra and Mahindra's e-KUV for Rs 8.2 lakhs ex-showroom Delhi. With a single charge range of 150 km and a 55 min fast charging upto 80 pc, it was both a head-turner and a conversation-starter.
Hyundai Motor India Ltd will hire NRI's and expatriates in executive positions as part of a new recruitment policy that aims at tapping global talent in the automotive industry, the company said on Tuesday.
Starting as a maker of hydraulic pumps, the Bengaluru-based company graduated to components for automakers like BMW and Audi, and then Airbus and Boeing
A UK government-funded organization British Midland, dedicated to attracting international businesses to the region comprising East Midlands and West Midlands, is eyeing around 40 investors from India across various sectors in the next three years.
This would impact Vento, Jetta and Passat sedan cars, Polo hatchback and Polo Cross crossover in India.
In its report 'India Automotive 2020: The Next Giant from Asia', JD Power said the country's ambition to become a global small car production base confronts some serious manpower related obstacles such as lack of skilled labour force, high labour cost and workers' low efficiency and productivity.
Former managing director of Maruti Suzuki India, Jagdish Khattar, passed away on Monday morning following a cardiac arrest, according to people close to him. Khattar (79), a former bureaucrat, was considered as one of the most high profile leaders of the Indian automotive industry, laying the foundation for Maruti's future growth after the government began its disinvestment in 2002 and gradually exited from its joint venture with Suzuki Motor Corporation (SMC). He had joined the then Maruti Udyog Ltd in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
The defence ministry on Thursday sealed a contract to procure 118 main battle tanks Arjun for the Indian Army at a cost of Rs 7,523 crore, in a major move to boost its combat capabilities.
With the automobile marking booming in India, vehicle makers are likely to set base here.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
For Hero MotoCorp, India's largest two-wheeler company, it's a calculated gambit to revive Harley-Davidson whose ride in India has been anything but easy since it got here.When automotive firms embark on alliances, it's a roll of the dice on how such marriages will play out.
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