'We will continue to refine our operating model to drive more simplicity and nimbleness.'
Home-grown auto major Mahindra and Mahindra on Monday unveiled a new visual identity, including a brand-new logo, exclusively for its SUV portfolio, ahead of the launch of its much awaited SUV, XUV700. The new brand identity is in tune with the company's focus to be makers of sophisticated and authentic SUVs. It heralds the strategic shift across Mahindra's SUV portfolio, where we are putting the building blocks in place for a new world with a range of authentic SUVs, the company said in a release.
Automobile companies are worried about challenges from electric mobility, automation and connected vehicles.
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According to industry body Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, with demand continuing to be low and factories not operating at full scale, this may lead to temporary excess overheads.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
The latest additions will bring the total number of UK manufacturing jobs announced by JLR over the last three years to almost 11,000.
Auto sector has nothing to look forward to in the Budget.
Union Minister Nitin Gadkari on Tuesday launched the country's first crash testing programme Bharat NCAP aimed at improving road safety standards of motor vehicles up to 3.5 tonnes. Bharat New Car Assessment Programme (Bharat NCAP) is India's own crash testing programme and is cheaper than tests conducted abroad, Gadkari said, adding that the star ratings will help buyers understand the quality of the product and make an informed purchase decision. Bharat NCAP will be implemented from October 1, 2023.
Companies have also managed to find talent created by frequent exits.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV sales.
Volkswagen is looking at ways to cut costs and boost cash flow.
Unemployment rate in the country has zoomed to a high of 8.3 per cent in December, the highest in 2022, according to data from Centre for Monitoring Indian Economy (CMIE). The unemployment rate during November was at 8 per cent, while in September it was the lowest at 6.43 per cent and was at the second highest level during the year at 8.28 per cent in August, the CMIE data stated. While the urban unemployment rate was at 10 per cent during the last month of 2022, rural joblessness stood at 7.5 per cent during December.
After lagging behind other segments in the automotive (auto) space over the past few years, two-wheelers are expected to reverse their volume underperformance. After witnessing a 36.3 per cent volume decline over the 2018-19 (FY19) through 2021-22 (FY22) periods, the sector staged a recovery in 2022-23 (FY23), with volumes rising 17 per cent. While volumes are still a quarter lower than the FY19 peak of 21 million units, a double-digit growth trajectory is expected to prolong.
The reimposition of sanctions on Iran will have major impact on countries like India, with which it has traditional and historic trade relationship.
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.
'There are a lot of companies that have been struggling really hard expecting to do better year after year.' 'All these people will think now, "Let me not fight any more. Let me end this".'
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The government is considering the option of inviting fresh applications to bid for the fourth slot which fell vacant after one of the initial candidates who qualified, Hyundai Global Motors, exited from the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage with a capacity of 20 GwH. Earlier, stakeholders had expected that the vacant slot would be offered to waitlisted players ranked on their technical and financial offer. A final decision will be taken soon.
The industry said if the policy was announced, it would have taken 28 million vehicles bought before March 2005 off the road.
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
'India seems to be on a relatively better wicket compared to other emerging markets.'
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
The Indian automobiles and auto components industry is likely to create additional employment for 25 million people by 2016, said experts at an auto industry conference in in Ahmedabad.
In the two-wheeler segment, Bajaj Auto reported 31 per cent jump in total sales at 357,883 units in February against 273,513 units in the same month last year.
The auto component industry caters to automobile industry through a whole gamut of auto parts such as engine parts, body & chassis, electrical parts, drive transmission & steering parts, braking, suspension etc.
'The idea is to invest where there is opportunity.'
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
Strong performance of past IPOs spurred investors' interest, with 87 small and medium enterprises (SMEs) garnering Rs 1,460 crore through initial share-sales in the first nine months of the year. This was way higher than 56 companies that had raised Rs 783 crore through initial public offering (IPO) in the entire 2021, the industry data showed. Further, the remaining part of the year 2022 can see more mature companies accessing the platform.
Last year, there was almost 16 per cent increase in hiring by the Global Capability Centres in India.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
Market linking of petrol and diesel prices has helped the industry.
'By leveraging the immense talent, passion and drive for innovation held by all members of the F1 community, we hope to make a significant positive impact on the environment and communities in which we operate'
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
'If you want Aatma Nirbhar, your policies should favour self-reliance, but your policies do not help the idea.' 'How are we going to be self-reliant if you make things difficult for us?'
Mahindra group and Ford Motor Co will jointly develop new SUVs and a small electric vehicle as part of several initiatives to take forward their collaboration pact signed last year.
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
'EV-charging is the next big opportunity after fuelling'
Apart from such advisory, IT biggies such as TCS, Infosys and HCL Tech among others have been pursuing 'remote working' model to overcome the situation.
