Page 5 - Automobile

Ford slashes prices on electric version of F-150 truck by up to 17%

The cuts reverse price hikes Ford implemented over the last year that had raised the starting sticker price on its debut battery-powered truck by 50%.

Maruti Suzuki launches CNG trim of compact SUV Fronx at Rs 8.41 lakh

Maruti Suzuki India (MSI) on Wednesday said it has launched a CNG trim of its compact SUV Fronx with price starting at Rs 8.41 lakh (ex-showroom). The two trims -- Sigma and Delta -- are tagged at Rs 8.41 lakh and Rs 9.27 lakh, respectively. The CNG variants come mated with a 1.2 litre petrol engine with a power output of 77.5PS and a fuel efficiency of 28.51 km/kg. "In 2010, we introduced our first CNG-equipped model, and since then, we have sold more than 1.4 million S-CNG vehicles in the country, which is a true testament to our customers' trust and faith in our technology," MSI Senior Executive Officer (Marketing and Sales) Shashank Srivastava said in a statement. The company is confident that the Fronx S-CNG will increase the share of S-CNG cars in its overall sales, and further strengthen the green mobility portfolio, now consisting of 15 models which is the best in the industry, he added.

Volvo Car's sales in India increased by 33% in January-June period

Volvo Car India on Wednesday said its sales grew 33 per cent year-on-year to 1,089 units in the January-June period. The company had delivered 818 units in the corresponding period of last year. The growth was primarily driven by the XC60, which experienced a substantial 35 per cent increase resulting in 376 deliveries, the automaker said in a statement. Additionally, the locally assembled all-electric XC40 Recharge performed exceptionally well, with sales of 289 units in the first half of the year, accounting for 27 per cent of the total volume, it added. "The performance in the first half serves as a promising indicator, instilling confidence that the upcoming months will yield even better outcomes," Volvo Car India Managing Director Jyoti Malhotra noted. With the upcoming launch of electric model C40 Recharge in August, the aim is to surpass its best ever year, he added. The introduction of the C40 Recharge aligns with Volvo's commitment to achieve a fully electrified vehicle

Vehicle loans outstanding rise 22% in May despite high interest rates

Vehicle loans outstanding increased by 22 per cent year-on-year to Rs 5.09 lakh crore in May, notwithstanding the Reserve Bank's rate hike spree in 2022-23. As per the latest RBI data, the total vehicle loan outstanding climbed from Rs 3.65 lakh crore in May 2021 to Rs 4.16 lakh crore in May 2022, and further to Rs 5.09 lakh crore as of May 19, 2023. The annual rise in loan outstanding was only 14 per cent in May 2022. The RBI started raising the interest rate in May last year to check inflation in the wake of the Russia-Ukraine war and cumulatively increased the repo rate (benchmark interest rate) by 250 basis points in six tranches before pressing the pause button at the beginning of the current fiscal. The retail sales data collected by the Federation of Automobile Dealers Associations (FADA) also reflects rising sales of vehicles across various categories in June. According to FADA, the auto retail sales in June demonstrated a 10 per cent year-on-year growth, encompassing posi

China's car sales shrink 2.9% in June as big-ticket spending falters

Car sales in June totalled 1.91 million units, down 2.9% from last year, CPCA data showed. It was the first monthly contraction since January

Auto retail sales touch 1.86 million in June, 10% more than last year: FADA

'New model introductions, festive promotions, seasonal factors couldn't markedly boost sales'

Safety features top concern for buyers while purchasing car: Survey

Car safety rating and number of airbags were the top two features driving the consumer car purchase decisions, findings of a survey has revealed. Fuel-efficiency, one of the popular aspects while buying a car, occupied third place as per the survey commissioned by Skoda Auto India and conducted by NIQ BASES. The study revealed a heavy inclination among customers towards the safety features of the car with 9 out of 10 customers who thought all cars in India should have a safety rating, the survey noted. As per the findings, car's crash rating was the top driver of customer car purchase decision with an importance score of 22.3 per cent followed by number of airbags with a score of 21.6 per cent. When it comes to crash rating for cars, maximum customer preference of 22.2 per cent was observed for a 5-star safety rating followed closely by 21.3 preference for a 4-star rating. Crash rating of zero is the least preferred with only 6.8 per cent score, as per the survey. Fuel efficiency

Kia India recalls over 30k units of Carens for software update

Kia India on Monday said it is recalling over 30,000 units of its model Carens for a software update. The automaker is recalling a total of 30,297 units of the model manufactured between September 2022 and February 2023. The company conducts regular checks and rigorous testing of components, governed by brand's global standard, Kia India said in a statement. The company has initiated the recall campaign for vehicle inspection and, if required, a free-of-cost software update is also provided, it added. "The recall campaign has been initiated to inspect any potential error in the cluster booting process that may cause the cluster to go blank," the automaker stated. During this campaign, the company will take utmost care to minimise inconvenience to customers, it added. The company will directly reach out to the owners of the concerned vehicles to update them about this voluntary recall campaign, it noted. The customers of the affected vehicles would be required to contact their ..

Volkswagen prepping its 7-seater SUV Tayron, India launch likely in 2025

The Tayron will replace the seven-seater Tiguan AllSpace which is set to retire after its current generation

Two-wheeler OEMs' revenue likely to rise 13-14% this fiscal: Crisil Ratings

Two-wheeler OEMs' revenue is likely to rise 13-14 per cent this fiscal despite modest volume growth, driven by increasing preference for executive and premium motorcycles that yield higher realisations, Crisil Ratings said on Tuesday. The two-wheeler original equipment makers (OEMs) topline had grown 19-20 per cent last fiscal, as per the credit ratings agency. Motorcycles above 110 cc fall under the executive and premium segment. Overall, two-wheeler sale volumes are expected to rise around 8 per cent year-on-year this fiscal to around 20.6 million units, driven by around 11 per cent growth in the domestic markets (81 per cent of overall volumes in fiscal 2023), it said. Exports, on the other hand, will remain impacted for the second year in a row due to economic challenges and continuing high inflation in key markets of Africa, Latin America, Bangladesh and Sri Lanka, Crisil Ratings said. While this would be the third straight year of volume growth (in two-wheelers), it would st

Nearly half of FAME electric 2-wheeler sales based on false claims: Report

An investigation done by ARAI found several firms depending on imports for key parts such as electric motors, controllers, and onboard chargers

CNG cars could account for 25% of industry by end of decade: Tata Motors MD

It is a 'decade of transition' for the industry and companies will have adapt to changes quickly: Shailesh Chandra

Eicher Motors Q4 results: Consolidated net profit rises 49% to Rs 906 cr

Total revenue from operations rose to Rs 3,804 crore for the fourth quarter as compared with Rs 3,193 crore in the year-ago period

Hyundai signs deal with Tamil Nadu for Rs 20,000 cr investment in EV space

Car manufacturer will set up battery pack assembly unit with an annual capacity of 178,000 units

Connected vehicles market grew 60% in quarter ended March: CMR

The market for EVs in India grew 48% during the period

Automotive firm Stellantis India names Aditya Jairaj as Deputy MD

Global automotive group Stellantis on Monday said it has appointed Aditya Jairaj as the Deputy Managing Director with effect from May 4. Jairaj will also lead the Jeep brand's operations in the country. Stellantis India CEO & Managing Director Roland Bouchara said Jairaj brings a proven track record of value creation. "The India strategy is a key pillar for the group as an important element of localisation efforts in the region and transforming the mobility landscape in India through our two-pronged brand approach," he added. Jairaj has more than 17 years of experience in the automotive sector. Before joining Stellantis, he served as the Head, EV Strategy and Transformation, for Nissan.

April auto retail sales drop of 4% on decline in two-wheeler demand

Fall in passenger vehicle sales after eight months was another factor behind the overall decline

Maruti Suzuki India's sales jump 6.5% in April, exports drop by 8%

The total domestic sales were up from 132,248 units in April last year to 143,558 units this year

Taiwanese firm Gogoro eyes India as hub for making electric two-wheelers

The top 50 cities where Gogoro wants to operate account for 25 per cent of all the two wheelers - around 60 million

JSW Group in talks with MG Motor, BYD India for electric vehicle push

MG Motor India unveiled its compact EV Comet, which has a range of 230 km per charge, last Wednesday