India Auto MNCs

Hyundai Motor India is looking to position itself as a manufacturing hub for exports for emerging markets like Africa and neighbouring nations, according to a top company executive. The company, which is looking to diversify its export markets as it continues to face challenges regarding shipments to regions like the Middle East due to the Red Sea and other geopolitical issues. "We are positioning the company as a production hub for emerging markets. We are manufacturing and exporting our cost-optimised vehicle to the emerging markets," Hyundai Motor India MD Unsoo Kim told PTI. He noted that the automaker has a balanced mix of domestic and export volume, which gives it not only good profit but also a natural hedge against any market fluctuation. "We have a very suitable product line up for emerging markets," Kim said. Hyundai witnessed growth in almost all regions like Africa, Mexico and Latin America, he said. "However, the Middle East continued to face headwinds due to the Red

The customs department on Monday told the Bombay High Court that it has not, and will not, stop any consignment of Skoda Auto Volkswagen India pursuant to a September 2024 show cause notice issued to the German firm seeking USD 1.4 billion in tax. The company last month filed a petition in the HC challenging the notice, terming it as "arbitrary and illegal". The tax demand notice relates to the firm allegedly importing car parts as individual units rather than as completely knocked down (CKD) units, which attract higher import duties. A division bench of Justices B P Colabawalla and Firdosh Pooniwalla heard the matter extensively on Monday and said it would continue the hearing on February 20. The bench questioned what if the company imports all components of the car except one item and then says they are only parts and not a CKD unit. "You (petitioner) bring in all the components except for one - let's say the gear box. You would still fall under the parts component and submit ..

Authorities alleged Volkswagen India imported almost entire cars in an unassembled condition - which attracts a 30-35% tax - but evaded levies by mis-classifying them as "individual parts"

Tax officers sent a confidential notice to Kia's Indian unit in April 2024, flagging alleged tax evasion of Rs 1,350 crore

Japan's Honda Motor Co Ltd on Tuesday said it is within reach of achieving the number one position in the Indian two-wheeler market and will introduce a variety of products, including scooters and EVs, to solidify its position. The company, which parted ways in 2011 with erstwhile partner Hero MotoCorp -- the current market leader, said it will also strive to capture the largest market share in the electric two-wheeler segment in India, where it will begin operating a dedicated electric two-wheeler production plant in 2028. "We have launched highly competitive products of all kinds... With the advantage of the strength of 6,000 dealers and service networks covering all the geographies of India, we have increased the unit sales. Now, the number one position is well within our sight," Honda Motor Co Executive Officer, Chief Officer, Head of Motorcycle and Power Products Operations, Motorcycle Business Unit, Minoru Kato said in a news conference in Tokyo. "Going forward, we will ...

(Reuters) - India's Exicom Tele-Systems, a supplier for car makers such as Mahindra & Mahindra and MG Motor, expects its electric vehicle charger business to bring in half of its annual revenue by 2030, its chief executive told Reuters.

Japanese carmaker Honda plans to introduce three new models by the 2026-27 fiscal in India as it looks to tap growth opportunities in the robustly growing SUV segment, according to a top company executive. The company, which is present in India through a wholly-owned subsidiary, currently sells just one SUV model -- Elevate -- in the market with the other two products being Amaze and City sedans. "We plan to introduce three new models, with hybrid and electric powertrains by the 2026-27 fiscal thus expanding the company's presence in the SUV segment," Honda Cars India President and CEO Takuya Tsumura told PTI in an interaction. The new models would encompass both hybrid and battery electric powertrains, he added. The Sports Utility Vehicle (SUV) segment now accounts for over 50 per cent of sales in close to 40 lakh domestic passenger vehicle segments. Tsumura noted the carmaker continues to develop models, like hybrid and battery electric vehicles, that suit the Indian market. Ho

India's domestic automakers are concerned about the possibility of Tesla entering the market - and government plans to give incentives to Tesla and other global carmakers

He said that more electric car models at different price points -- between Rs 8 lakhs and Rs 30 lakhs -- have to come in the Indian market so that people have more options

Average selling price of tyres will 'slightly move up', he says in interview about where industry is headed

Each two-wheeler manufacturer is also permitted to import a maximum of 70,000 units of two-wheeler automotive wheel rims for manufacturing 35,000 vehicles

While demand woes continued to plague the export market, growth was largely on the back of domestic demand

The action comes several months after the ministry instructed 13 companies to reimburse improperly claimed subsidies

Auto companies, especially makers of electric two-wheelers, say that in such cases the government has been withholding the subsidy for months, without offering any resolution on the issue

Aston Martin's decision to expand its footprint in South India reflects a strategic choice, due to the region's growth in the sports car segment

During the quarter under review, the company's revenue from operations increased by 16 per cent to Rs 9,932.82 crore as against Rs 8,560.76 crore in the July to September quarter of FY23

Moody's Investors downgrades global outlook for auto to negative from stable

Companies list a semiconductor shortage and possible third wave of Covid-19 as challenges that could hurt sector.

About 15,000 workers, mostly temporary and casual, out of work in auto making firms over past 2-3 months, 200,000 heads roll across dealerships

In an Interview with Pavan Lall, Audi new India head Balbir Singh Dhillon talks about his company's plans to increase its market share