With much sadness, so many of us woke up to the news that Vikram Kirloskar, vice-chairperson of Toyota Kirloskar Motor, had passed away late Tuesday. As I reminisce on the nearly 40 years I have known him, I can unequivocally say that he had such a rare and deep understanding and passion for automotive manufacturing that it would make Toyota, which pioneered the Toyota Way, proud. Many of us know Vikram as the man who brought the iconic Japanese carmaker Toyota to India. But few know the back story and hard work that went into creating a system of manufacturing that was everything Toyota could have hoped for and then some more because it was perfectly calibrated for manufacturing in India.
From the Sensex pack, Zomato jumped over 7 per cent. ICICI Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, Asian Paints, Titan, Kotak Mahindra Bank and State Bank of India were among the gainers. However, Bajaj Finserv, Bharti Airtel, Tech Mahindra and Reliance Industries were the laggards.
Amid challenging market environment, Maruti Suzuki India and Mahindra & Mahindra reported an increase in vehicle dispatches to dealers last month while Tata Motors and Hyundai saw a year-on-year drop in sales.
Toyota Kirloskar Motor on Tuesday said it has lifted the lockout at its Karnataka (Bidadi)-based manufacturing plants.
Car market leader Maruti Suzuki India cut production of its passenger cars by 16 per cent last month but increased those of utility vehicles by 33 per cent compared to October 2023, according to a regulatory filing by the company. Its passenger cars production stood at 89,174 units last month against 1,06,190 units in October 2023, down 16 per cent, Maruti Suzuki India said in the filing.
From the Sensex pack, Adani Ports, Tata Steel, Power Grid, Mahindra & Mahindra, NTPC, Tech Mahindra, Tata Motors, ITC, Nestle India, HCL Technologies, Bharti Airtel, State Bank of India, Asian Paints and Kotak Mahindra Bank were the gainers. Bajaj Finance, IndusInd Bank, HDFC Bank, and Zomato were the laggards.
Among Sensex shares, Mahindra & Mahindra, Bharti Airtel, Bajaj Finance, Zomato, Nestle, Bajaj Finserv, Maruti and Titan were the biggest gainers. Sun Pharma, Power Grid, Tata Consultancy Services, Tech Mahindra, Asian Paints and Tata Motors were among the laggards.
Sluggish urban demand, a high base effect, and weak sales of hatchbacks and sedans weigh down passenger vehicle sales in FY25.
618 companies were part of the billion dollar club when the markets reached all-time highs on September 26, 2024. That number has fallen to 500 following a $1 trillion wipeout in India's market capitalisation amid relentless selling by FPIs.
Equity benchmark indices Sensex and Nifty rallied for the third session on the trot, helped by a rally in global markets after lower-than-expected consumer inflation in the US ignited hopes of more rate cuts by the Federal Reserve. The 30-share BSE index climbed 318.74 points or 0.42 per cent to revisit 77,000 level at 77,042.82.
We are upbeat on the opportunities in India, says Vikram Kirloskar.
Amid slowing volume sales among India's major automakers, Toyota Kirloskar Motor (TKM) has defied the trend with strong growth, driven by demand for hybrid vehicles and a reliable product line up. The company expects this momentum to continue in 2025. "The overall response to our cars has been fabulous. So, we foresee the same momentum in 2025 as well," Sabari Manohar, vice-president, sales-service-used car business, TKM, said.
Firm asks workers to sign undertaking; refuses to revoke suspension of 17.
'The balance Zakir Bhai created between rhythm and execution...his maths during his performances were perfect, and yet he was a fountain of improvisation.'
'He was deeply committed to nurturing young talent and encouraging interdisciplinary collaboration.'
Toyota Kirloskar Motor (TKM) on Tuesday said the labour strike at its Bidadi-based manufacturing plant in Karnataka has come to an end. In November last year, the automaker had to declare a lockout at the facility following workers' union members resorting to a sit in strike at the factory premises to protest against the suspension of a worker.
The new proposal comes close on the heels of six measures introduced by Sebi to curb frenzy in index derivatives.
Indian passenger vehicles market registered record wholesales of 43 lakh units in 2024, with companies like market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales. The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry better the previous best of nearly 41.1 lakh units posted in 2023.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
The meltdown in Dalal Street that wiped out investor wealth to the tune of 44 trillion in 2025 also seems to be having a ripple effect on the country's vibrant automobile retail sales.
Industrialist Vikram Kirloskar on Monday said he would begin negotiations with the Japanese automaker Toyota in March next to increase his stake in their joint venture Toyota Kirloskar Motor Pvt Ltd
The company said that as it expands in India, the team needs to take new roles and responsibilities.
Car-maker Toyota Kirloskar Motor today reported an 89.34 per cent increase in sales to 17,395 units in January, driven by robust demand for its latest 'Etios' and 'Liva' models.
Toyota Kirloskar Motor is expecting a 58 per cent jump in revenues and a 3.6 per cent rise in sales for the current fiscal.
Auto majors report positive sales figs for November.
Kirloskar Oil Engines to consider the scheme of amalgamation of Kirloskar Power Supply with the company.
Kirloskar Oil Engines nods swap ratio for amalgamation
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.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported decline in wholesales in August as the companies curtailed vehicle dispatches amid drop in demand and to cut inventories at dealer level. Market leader Maruti Suzuki India said its total domestic passenger vehicle wholesales were at 143,075 units last month as compared to 156,114 units in the year-ago month, registering a dip of 8 per cent. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago.
Auto majors Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
'Though one cannot paint the entire microcap basket with the same brush, investors need to be careful now as to what they're buying.'
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
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