Page 31 - Auto

Luxury carmaker Mercedes-Benz India reports best ever retail sales in FY24

The automaker said it plans to introduce nine new models this year in the country, including three new battery electric vehicles (BEVs)

German premium car manufacturers struggle to revive demand in China

Carmakers are facing a challenging year, forecasting stable or lower returns and slower sales growth as they invest in revamping their line-ups to tackle growing competition

BMW EV sales surge in Q1 even as rivals struggle with weak demand

Customer deliveries of battery-powered models such as BMW's i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday

Muted exports for auto sector in FY25 amid weak overseas demand: Ind-Ra

A slowdown in demand from both domestic commercial vehicle manufacturers and subdued exports could limit revenue growth to a range of 6-8 per cent year-over-year

Govt approves 11 EV manufacturers for receiving incentives under EMPS

EMPS scheme offers subsidies for e2W and e3W to sustain the growth in EV sales in the country

China's EV makers order record number of ships to support car exports

BYD alone exported over 240,000 cars in 2023, about 8 per cent of its global sales, and plans to export up to 400,000 this year

Truck rentals remained flat in March 2024: Shriram Mobility Bulletin

According to industry sources, truck rentals were stable as corporates were seen rushing in March year-end to fulfil their targets

Tesla investors brace for potential back-to-back vehicle sales decline

The carmaker faces a tough year-ago comparison in the current period, Ben Kallo, who rates Tesla's stock the equivalent of a buy, said in a note published Tuesday

Electric vehicle retail sales grow across segments in FY24, says Fada

Tata Motors led the segment with registrations of 64,217 units, up 66 per cent over 38,728 units in the 2022-23 financial year

BMW Group India begins Q1 2024 with 51% sales growth to 3,680 units

Luxury Class cars also performed well, with a 152 per cent growth for BMW. Models like the 7 Series, X7, and the new XM played a key role in this achievement

BMW Group reports highest-ever first quarter car sales at 3,680 units

The company sales rose 51 per cent in the first quarter of this fiscal as compared to 2,440 units in the January-March quarter of 2022-23

China commerce minister begins Europe trip defending Chinese EV sector

Wang reiterated Beijing's stance that Chinese EV makers did not depend on subsidies to gain a competitive advantage, according to a statement published by the commerce ministry on Monday

Tata Motors reports 11% increase in JLR Q4 sales to 114,038 units

Full-year sales for the financial year 2024 also climbed 22% to 431,733 units, the company said in a statement

Safety issue: Toyota to oversee model certification at subsidiary Daihatsu

Toyota Motor Corp. will take a leadership role in various areas, including product development and procurement, said Masahiro Inoue, who took the helm of Daihatsu in March

Hyundai, Kia partner with Exide Energy for EV battery localisation in India

Hyundai Motor and Kia aim to localise their EV battery production, specifically focusing on lithium-iron-phosphate (LFP) cells

High on SUVs: India records all-time high passenger vehicle sales in FY24

2023-24 also witnessed a high demand for sports utility vehicles (SUVs), which, for the first time in India, now hold a market share of 50 per cent in total PV sales

Electric two-wheelers surge in March: Has the tipping point indeed arrived?

The new EMPS, valid for four months, halved the subsidies per KWH (kilowatt hour, a measure of battery capacity) to Rs 5,000 per vehicle

EV sales to rise 66% this year after nearly doubling in 2023: Report

The rapid growth in sales comes at a time when EV growth in other key markets such as the United States and China are slowing

Telangana govt holds discussions with Tesla to set up electric car plant

Minister's comments came after BRS leader K T Rama Rao in a post tagged a news report suggesting that Tesla Motors will send a team to India to scout for locations for a proposed electric car plant

Govt asks Tesla to lay down investment plans for EV plant in India

Vietnamese automaker VinFast recently broke ground on an EV manufacturing facility in India's southern state of Tamil Nadu