While some carmakers are lowering their sales targets, Maruti Suzuki DZire, M&M XUV500 and Renault Duster are selling strong.
Among the Sensex firms, ITC, NTPC, Axis Bank, Larsen & Toubro, Bajaj Finance, Asian Paints and Tata Steel were the major gainers. Mahindra & Mahindra, Wipro, Maruti, IndusInd Bank, Kotak Mahindra Bank and HDFC Bank were among the laggards.
New projects will boost investment in India, says Anand Mahindra.
Mahindra-Renault, a joint venture between Mahindra & Mahindra and Renault, plans to source engines from the French firm's proposed plant in Chennai as it looks to increase localisation of its sedan Logan.
The still-unnamed sports utility vehicle (SUV), slated for launch this June, will be in line with its heritage, says Force Motors managing director Prasan Firodia.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
"Three acquisitions are underway in India and another two abroad," M&M vice-chairman and managing director Anand Mahindra said at the Tenth Asia Pacific Automotive Industry Roundtable.
The deal size ranges from $200 million to $300 million. The 27-year-old S P Metal Forgings has been a large exporter to Europe, the UK and Israel for over three years. It provides parts for BMW, Peugeot and Renault and also services the after-market and non-automotive companies.
The French carmaker wants to erase the Logan memory by opting for a premium play before going down the value chain.
Finance Minister Pranab Mukherjee on Friday announced raising of excise duty to 12 per cent from 10 per cent at present.
Kinetic Motor's assets bought for Rs 110 crore.
The monthly sales of its bread-and-butter Ambassador slipped to just around 800 in the April-February period.
Renault and M&M had planned to bring the seven-seater MPV through their JV under which the French company's mid-sized sedan 'Logan' is manufactured and sold in India. The MPV was displayed at the Auto Expo held earlier this year.
NITIE, Mumbai, invites students and working professionals for Samiksh, a panel discussion on VAT: Implications On India Inc.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
When Jawa Motorcycles owner Jiri Gerle sold the legendary but defunct brand to Classic Legends (part-owned by Mahindra & Mahindra), he had one request to the new owners: Please do bring the brand back to its homeland -- the Czech Republic.
The deadlock between Mahindra & Mahindra and over 4,400 workers at the company's Nashik plant hardened on Friday, with the union saying it was appointing a lawyer to appeal to the Bombay High Court against an industrial court-imposed 48-hour deadline for workers to return to work. The deadline ended today.
The muted expectation of dealers come at a time when vehicle manufacturers such as Maruti Suzuki, Hyundai Motor, Mahindra & Mahindra and others reported a double-digit fall in wholesale dispatches to dealerships in July and August.
Passenger vehicle sales continue to drop in June; Maruti, Hyundai, Tata Motors, Toyota witness decline. Mahindra & Mahindra, however, reported a 4 per cent growth.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
The Mahindra group's Igatpuri plant becomes the first in India to be declared carbon-neutral. Ashish Narsale / Rediff.com finds out how this was achieved.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
As Mahindra readies to unveil its latest version of the Jeep that is so beloved of adventure enthusiasts, the urban crowd as well as the countryside, Rajesh Karkera/Rediff.com traces the vehicle's journey through the decades.
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.
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.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
From the Sensex pack, Larsen & Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
