The first investigation completed on Monday resulted in a $16.375 million fine over Toyota's recall of nearly five million vehicles with accelerator pedals that could become entrapped by floor mats.
However, the company has not provided a timeline for the launch of the small electric car.
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.
Automobile companies are worried about challenges from electric mobility, automation and connected vehicles.
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
Workers had stopped production lines to protest a delay in salary hikes after 10 months of negotiations.
Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 in order to partially offset the impact of rise in input costs. The company, which is a joint venture between Japan's Toyota Motor Company and Kirloskar Group, sells a range of vehicles including Innova Crysta and Fortuner in the domestic market. The company will realign the prices of its models, with effect from October 1, 2021, TKM said in a statement.
Clock 11% growth in the first 11 months of 2022.
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
Toyota Motor Corporation, which runs its Indian operation through a joint venture -- Toyota Kirloskar Motor -- with the Kirloskar Group, is constructing the second plant at its Bangalore facility with an investment of Rs 3,200 crore (Rs 32 billion) to manufacture the small car.
The British auto industry is expected to witness 40,000 job losses over the next three years, mainly due to falling demand for cars, says a media report.
Overseas shipments at auto firms expanded at a brisk pace year-on-year (YoY) in March, bumping up the overall annual exports for FY22 and taking it to a record level for some like Maruti Suzuki India and Bajaj Auto. Amid a semiconductor shortage, a depreciating rupee and a strong demand in various export destinations, passenger vehicle makers diverted capacity meant for the local market in favour of the more-lucrative export market. Among the passenger vehicle makers, market leader Maruti Suzuki led the rally with its overseas shipments touching a record level of 238,376 units in FY22 - the highest for the company in any financial year.
Toyota Motor Corporation is recalling 1.43 million vehicles globally for defective air bags
Toyota Motor Corp is likely to have retained its position as the world's best-selling carmaker for the first nine months of the year, beating rivals General Motors Co and Volkswagen AG, company figures showed on Monday.
Toyota Kirloskar Motor (TKM) on Wednesday said it will recall 44,989 units of multi-purpose vehicle Innova manufactured between February 2005 and December 2008 in India to rectify a faulty cable on the steering wheel.
The Japanese multinational automaker's Lexus cars will be sold in India through an exclusive network of dealerships by 2013, executive vice-president Yukitoshi Funo said on Monday.
Carmakers, including Toyota, Honda, Nissan Motor Co and BMW, in 2013 recalled 3.6 million vehicles because of problems with the airbag inflator that could potentially explode and injure the driver or passengers.
High cost of acquisition due to a variety of reasons, including higher GST than all other major countries, is slowing down car demand in the country and unless the Centre and states take steps to reduce it, the industry is unlikely to experience reasonable growth, according to Maruti Suzuki India Chairman R C Bhargava. Addressing shareholders in the company's Annual Report for 2020-21, he said after the devastating second wave of the coronavirus pandemic hitting the first quarter of FY22, the performance in the next three quarters will largely depend on how effectively people get vaccinated and observe safety protocols.
BMW said in a statement 'binding agreements' signed with Toyota also foresee to jointly develop an architecture and components for sports vehicles.
The US on Tuesday slapped a record 17.35 million fine on the world's biggest automaker, Toyota Motor Corporation, for "failing" to report safety defects to regulators within five days as required by federal law.
They are recalling a total of about 3.4 million vehicles worldwide as a result of an airbag problem.
Models of the Yaris, known in Japan as the Vitz, that were made between November 2010 and March 2012, have been recalled.
Government policies and other uncertainties are holding it back from setting up a new diesel engine plant and launching more hybrids.
Camry is the highest grossing vehicle from the Toyota clan in the global market.
In a statement on Wednesday, Toyota had said it would take a one-time, $1.1 billion pre-tax charge against earnings to 'cover the estimated costs of the economic loss settlement and possible resolution costs of civil litigation brought in California by the District Attorney of Orange County and an investigation by a multi-state group of Attorneys General stemming from previous recalls.'
This is the third recall of the company to involve more than a million cars since 2009.
Boardroom shuffle in Toyota may lead Takeshi Uchiyamada to become chirman, speculate executives.
The company has exceeded the target president Akio Toyoda set two years ago: to make 1 trillion yen in annual operating profit, and do so with a 5 per cent margin.
The company has exceeded the target president Akio Toyoda set two years ago: to make 1 trillion yen in annual operating profit, and do so with a 5 per cent margin.
Another downgrade for Tokyo Olympics that have their pomp and public spectacle overshadowed by COVID-19
With sales sagging despite discounts, car makers are now looking at value-added services to attract customers.
Japanese chief cabinet secretary Katsunobu Kato declined to give details but said Japan would make every effort to protect the Games from possible hacking attempts.
Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.
This Sporty initiative by Japanese carmaker will definitely steal the hearts of numerous 'racing' enthusiasts across the country.
Most auto companies posted positive reults, while others saw a dip due to high interest rates, high fuel prices and other factors.
The proposed car is likely to be built on the platform the company developed for its much awaited sedan, Etios, launched last week in the country.
Media report says unfavourable excise structure, large investments are the main reasons
The overall market breadth in BSE remains positive with 1,723 shares advancing and 1,157 shares declining.
After learning lessons from market downturn and a series of product recalls, Japanese car maker Toyota on Wednesday said it will strengthen focus on emerging markets by increasing production, sales and developing models to suit local needs, as part of its global business plan till 2015.
Toyota Motor Corporation and Honda Motor Corporation plan to make India a hub for sourcing components of small cars.
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