Maruti Suzuki, India's leading car manufacturer, recently celebrated the inauguration of its 500th Nexa outlet
For vehicles that have been confirmed to have defects after inspection, BMW will replace the driver's front airbag free of charge to eliminate safety hazards, the statement said
Amara Raja Energy & Mobility (ARE&M) has posted about 26 per cent rise in consolidated net profit at Rs 249.12 crore for June quarter FY25. It had reported a net profit of Rs 198.31 crore for April-June period of 2023-24, the company said in an exchange filing on Saturday. Revenue from operations rose to Rs 3,263.05 crore from Rs 2,796.27 crore in the year-ago quarter. Revenue growth was aided by year-on-year healthy volumes registered in the automotive after-market, OEMs (original equipment manufacturers), and export markets, the company said in a statement. "In the quarter, we have seen good traction from our international operations. This was spearheaded by the offtake of our indigenously designed AGM (Absorbed Glass Mat) batteries. We are betting big on growing this space in the coming months," Harshavardhana Gourineni, Executive Director, Automotive & Industrial Batteries said. The company will continue to build its product range, cater to newer segments, and ...
TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100 per cent purchase of Roberto Nuti Group by TVS Mobility indirectly, through its wholly-owned Indian subsidiary, SI Air Springs Private Limited and investments appropriate to the full re-launch of the company, TVS Mobility group said in a statement. It also said that both companies will continue to operate normally during the integration period. TVS Mobility has a well-established presence in Europe with some of the other businesses that are part of the group such as TVS Supply Chain Solutions and TVS Srichakra Ltd. Following this collaboration, the Bologna (Italy)-based group will now operate on a more international scale, benefiting from the market and product leadership of TVS Mobility, it said. "T
Automotive dealership firm Popular Vehicles & Services Ltd on Wednesday reported 40 per cent year-on-year increase in Profit After Tax (PAT) at Rs 20.1 crore for the March quarter. The Kochi-headquartered company had posted a PAT of Rs 14.3 crore in the fourth quarter of FY23, according to a statement. Total income grew 4.6 per cent at Rs 1,372 crore as against Rs 1,311 crore in Q4 FY23, it said. The company said the total vehicles retailed during March quarter FY24 declined 10.2 per cent to 11,116 units as against 12,372 units in the year-ago period. The company, which is the country's second listed auto dealership chain, also said that out of net IPO proceeds of Rs 230 crore, Rs 192 crore, supposed to be used for debt reduction, has already been deployed in FY24. Popular Vehicles & Services got listed on exchanges on March 19 this year. "In FY24, the sales volume, excluding service business de-grew by 4 per cent, however the revenue increased by 14 per cent. The growth was ..
Mahindra XUV 3X0 will start accepting bookings tomorrow, days after being launched in India. The bookings will officially begin on May 15. Here's all you need to know
FMCG sells short on hope; auto stocks rev up for profit pullback
Govt's sequential approach targets mature nodes, foreseeing a conservative $100 billion chip demand in five years
Bhan mentions that sectors such as automotive (auto), pharmaceutical (pharma), and industrials have performed particularly well in the ongoing result season
The company, which owns the Amaron battery brand, aims to penetrate into two-wheeler EV market first with chargers and eventually through battery packs as it expands its so-called 'new energy' segment
India has become a major 'centre of gravity' for global automotive major Stellantis as it expands internationally, especially with digital and software hubs in the country supporting the organisation's technological future, according to a senior company official. Stellantis, which came into existence after the merger of Fiat Chrysler Automobiles and the French PSA Group in 2021, currently sells its Jeep and Citroen brands in the country. It has three manufacturing plants, two R&D centres and two ICT hubs in India. "We have got 4,000 employees in the region (India and the Asia Pacific), and the vast majority of those employees are right here in India. We're creating jobs here, two R&D centres and two IT centres. It's not only creating for India, but it's also creating for the world," Stellantis, India and Asia Pacific (IAP) Region, Head of Sales, Marketing and Regional Operations, Billy Hayes told PTI. The validation for the vehicles sold outside of India is done here, given ...
With this deal, the combined entity now has a total of 3.31 million vehicles managed worldwide
For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022
Analysts indicate that in future, gross margins might come under pressure
In addition to volumes, margins, too, are expected to expand
Car sales black, grey, blue, red, green, and gold rose by a few percentage points in 2022
Higher raw material prices had punctured sequential margins of major tyremakers
Bengaluru-based start-up will launch motorcycle on November 24, aims to be in international markets
Calls for involving the industry to bridge the huge gap
The management is cautiously optimistic of growth in Indian markets for automotive components, agricultural machinery and construction equipment