As competition heats up in the multi-utility vehicle (MUV) segment, the country's leading utility vehicles player Mahindra and Mahindra (M&M) plans a flexible manufacturing line for its latest launch the compact SUV Quanto to capture market share.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Rajesh Jejurikar had quit M&M to join Zee Entertainment Enterprise.
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
The different tax structures for smaller and larger vehicles in the Indian market have resulted in the emergence of a unique category of compact sub-four-metre sedans and utility vehicles that are gaining favour among consumers. Come mid-2013, half-a-dozen sub-four-metre vehicles will be on road.
The different tax structures for smaller and larger vehicles in the Indian market have resulted in the emergence of a unique category of compact sub-four-metre sedans and utility vehicles that are gaining favour among consumers. Come mid-2013, half-a-dozen sub-four-metre vehicles will be on road.
Workers at utility vehicle major Mahindra & Mahindra's Nashik facility on Tuesday issuing a notice to the management to go on strike on or after March 11, if their demands for higher wages were not settled by the company.
While some carmakers are lowering their sales targets, Maruti Suzuki DZire, M&M XUV500 and Renault Duster are selling strong.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
Higher disposable incomes, rural push and infra push to boost auto sector
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
Volkswagen, which has two heavy-duty truck brands, Scania and MAN, is eyeing an equity stake in Navistar to gain a stronger foothold in the US commercial vehicle market, according to international media reports.
Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
While retail sales at dealerships have suffered the full impact of demonetisation, the growth in wholesale volumes comes as dealers had relatively lower inventory after Diwali in October.
Tata said it was a matter of "great shame" that the company allowed Mahindra & Mahindra to get ahead of it to claim the number three spot in passenger vehicle production.
Ruural markets contribute a significant chunk of SUV sales and there was a slowdown in demand from semi-urban and rural areas.
Investor sentiment got a big push after Brent crude, the international benchmark, dropped below the USD 73-mark to quote at a seven-month low of USD 72.65 by falling 3.48 per cent, traders said.
All BSE sectoral indices ended in the red, with oil and gas, bankex, capital goods and finance falling up to 3.04 per cent.
The broader NSE Nifty also settled lower by 23.10 points, or 0.19 per cent, at 11,922.80.
Top losers include Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent.
An expected drop in sales may prompt Mahindra & Mahindra to cut scheduled capacity expansion plans, if the government goes ahead with the imposition of additional tax on diesel vehicles, according to the country's biggest maker of sports utility vehicles.
Auto firms are likely to perform better in coming months.
Corporate affairs ministry sending notices seeking details of fund disbursal
Pawan Goenka did not offer any details on the new models or launch dates.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
Yes Bank and Tata Motors were the biggest losers in the Sensex pack, slumping 8 per cent.
More than a dozen corporates, including big names such as Aditya Birla Group, M&M, L&T, as well as state-owned PFC, LIC and India Post, are likely to apply to the Reserve Bank for licence to open banks.
The company, in a BSE filing, said "the matter was resolved amicably through mutual dialogues and the matter has also been withdrawn by them from the conciliation officer, Mohali."
Buses that run on battery, trucks that purr on LNG, and more from the stables of Tata Motors, Mahindras and Ashok Leyland. The Auto Expo 2018 had these and more.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
On Tuesday, one of the longest serving chairmen of India Inc decided to step down from his post, which he held for 49 years.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
The fire broke out in the Scorpio unit of the company, early morning, which was brought under control with the help of 25 fire tenders of the Nashik Municipal Corporation as well as the company's own firefighting unit.
The Mumbai-based entity has yet to apply for a re-certification for federal emissions with the Environmental Protection Agency of the American government.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Tata now occupies the fourth slot with the incremental volumes from the Tiago
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
India's largest utility vehicle maker is also planning to take it own products to the Korean market next year, said Pawan Goenka, M&M president, automotive and farm equipment sector.
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