Automotive Industry

In growth lane: Exports of passenger vehicles, 2-wheelers surge in 2024

Over 14% of passenger vehicles and 16% of two-wheelers manufactured in the country were exported between January and November

Mumbai leads in trend of tech roles rising among non-tech sectors: Study

Analysis highlighted that Mumbai recorded a 17 per cent growth in October 2024, making it a frontrunner among cities witnessing the expansion of tech roles into non-tech sectors

Audi expects sales to recover next year; anticipates 8-10% growth in 2025

Luxury carmaker Audi India expects sales to be back on track next year after witnessing supply chain disruptions that hampered its performance in 2024, a top company executive said on Thursday. The German carmaker, which on Thursday introduced a new version of its flagship SUV Q7, expects its sales to grow by 8-10 per cent next calender year, recovering from supply chain challenges it faced in the first two quarters of this calender year. "We anticipate luxury car industry growth next year to be in the range of 8-10 per cent. For Audi also we expect similar kind of growth," Audi India Head Balbir Singh Dhillon told PTI in an interaction. He noted that the industry sales growth has tapered down after witnessing huge growth in the last three years. In January-September this year the industry growth has been around 5 per cent, down from over 30 per cent year-on-year growth witnessed in the last three years. "Still we believe that the luxury car industry will cross the 50,000 unit-mar

Can't address pollution without cutting fossil fuels import: Gadkari

India cannot address the problem of pollution without reducing import of fossil fuels, Union Minister Nitin Gadkari said on Wednesday. Addressing 'Times Drive Green Conclave & Awards 2024' event, Gadkari further said a bio-fuel economy is very import today and it is in good position in India. He said 40 per cent of air pollution in the country is because of the transport sector. "Pollution is a big concern in India.. without reducing import of fossil fuels, we cannot reduce pollution in the country. In the transport sector, we need to find out alternative for fossils fuels... We need to develop sustainable development model," Gadkari said. The road transport and highways minister also noted that India is facing problems in the agriculture sector due to surplus production of wheat, rice and sugar. In this context, he said the government has taken decision to diversify agriculture into energy sector. "Today there are 400 projects in Punjab, Haryana, and Maharashtra where they are ..

Shanghai Automotive workers protest layoffs, clash with police on severance

This dispute is part of a growing wave of visible labour conflicts amid China's struggling post-lockdown economy. A quarterly report from Freedom House, based in Washington DC, revealed a 27 per cent

Industry needs to drive in more EVs to enhance adoption: Advisor to PM

The automotive industry needs to do more in terms of driving in new electric cars to enhance customer response enabling higher adoption of such models, Advisor to Prime Minister at PMO Tarun Kapoor said on Tuesday. Speaking at the FICCI National Conference on Electric Vehicles here, he noted that the government on its part will look at all aspects, including taxation issues so that the industry remains viable. "In four-wheelers, what I think is that industry itself has to play a much, much larger role than the government because we need more products. We need better products, and we need more publicity," Kapoor said. He noted that the government is working towards enhancing charging infrastructure with even the PM-E Drive scheme laying a lot of emphasis on it. "But on product and on getting more customer satisfaction and to give more choice, the industry has to plan a much bigger role," Kapoor said. On taxation issues, he stated: "So from the government, we can't really commit ...

Mahindra & Mahindra, Skoda-Volkswagen clash over joint venture terms

M&M, with a stronger position in the domestic market, is reluctant to compromise with the two sides facing disagreements over issues related to development costs and sourcing

Hyundai bets on CNG vehicles, sees rising demand in rural and urban India

Hyundai Motor India Ltd is betting big on CNG fuel option with sales of models equipped with the technology witnessing increasing demand across rural and urban markets in the country, according to a top company official. The company, which currently offers CNG option in its three models -- Grand i10 NIOS, AURA and EXTER -- has seen an increase in contribution of the CNG models to its domestic sales to 11.4 per cent in FY24 from 9.1 per cent in FY22. So far in the April-October period this fiscal, the contribution of CNG models to the company's domestic sales has risen to 12.8 per cent. Its overall vehicle sales across different fuel options stood at 3.54 lakh units in the domestic market during the period. "At present, India already has more than 7,000 CNG stations and aim is to have approximately 17,500 CNG stations by 2030 which will further fuel the CNG demand," HMIL Whole-time Director and COO Tarun Garg said on the reasons behind the company's bullishness on CNG models. With a

BMW sales drop due to China's EV, CEO asks to cancel new fossil ban plan

Demand in China, the world's biggest auto market, is suffering from a flagging economy, while foreign carmakers face stiff competition from local manufacturers offering cheaper models, especially EVs

BYD hopes for ease in investment rules as it aims to build cars in India

BYD, in partnership with a local firm, submitted a $1 billion investment proposal last year to build electric vehicles in India. But New Delhi is yet to approve the plan

BFSI sector valuation discount to overall market at a record high

Valuation re-rating has been much sharper for non-BFSI companies

About 83% of Indian buyers will consider new energy vehicles by 2030: Study

Driven by the Centre's efforts, India's EV sector shows promise but challenges remain. At present, EV adoption in the country stands at 2% for passenger vehicles and 6% aross all categories

Auto dealers can claim ITC on demo cars used for promoting sales: CBIC

Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law, the CBIC has said. However, no ITC would be available if demo cars are used by dealers for their own purpose during the course of the business. In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said authorised dealers are required to maintain demo vehicles at their sales outlet as per dealership norms which are used for providing trial runs and for demonstrating features of the vehicle to the potential buyers. These vehicles are purchased by the authorised dealers from the vehicle manufacturers against tax invoices and are typically reflected as capital assets in books of account of the authorized dealers. As per dealership norms, these vehicles may be required to be held by the authorized dealers as demo vehicle for certain mandatory period and may, thereafter, be sold by the dealer at a written down value and applicable tax is ..

Auto sector needs to focus on customer service, quality assurance: Gadkari

The Indian automobile industry is at the cusp of a revolution and it needs to focus on customer service, after-sales and quality assurance, Union Minister Nitin Gadkari said on Wednesday. In a video message to the Auto Retail Conclave organised by Federation of Automobile Dealers Associations (FADA), Gadkari, the Minister for Road Transport and Highways acknowledged that automotive dealers play a key role in realising the government's mission of a self-reliant India. "The automotive industry is at the cusp of the revolution, and as we look to the future, it is critical that the sector continues to innovate, especially in areas like customer service, after-sales and quality assurance," Gadkari said. The minister further said, "As a distributor of automobiles, you play a pivotal role in the government mission of 'make in India' and contribute significantly to realising our vision of self reliant India." Stating that the government deeply values the role that FADA and its members play

Fada announces appointment of C S Vigneshwar as new president for 2024-26

The Federation of Automobile Dealers Associations (FADA) on Wednesday announced the appointment of C S Vigneshwar as its President for 2024-26 period. The decision was taken at the 315th Governing Council Meeting, held immediately after the 60th annual general meeting, FADA said in a statement. Vigneshwar is the Managing Director of Anaamalais Toyota based out of Coimbatore, Tamil Nadu, and has other dealerships of Volvo Eicher Commercial Vehicles (VECV) and Ather Energy, it added. He has been a council member of FADA for the last 12 years. Besides, Vigneshwar has been a member of the Apex Consultative Committee of VECV for the last 16 years and a part of the Toyota Dealer Council for 11 years and served as the Head of the Toyota India Service Dealer Council for 7 years, the statement said. FADA said its governing council also elevated Sai Giridhar, MD of Saisha Motors Pvt Ltd (Dealer for Skoda Volvo Cars & MG Motors) based out of Jaipur, as Vice President and Amar Jatin Sheth, ..

BMW brake recall, VW job threat deepen German automobile industry crisis

BMW shares plunged after the company disclosed the spiraling cost of a recall affecting 1.5 million vehicles due to faults with their Continental AG braking systems

Hyundai Motor adds two new variants under EXTER portfolio

Automobile major Hyundai Motor India has rolled out two new variants on its popular entry level sports utility vehicle EXTER, the company said on Friday. The S(O)+ variant, equipped with manual transmission is priced at Rs 7,86,300 (ex-showroom) while S+ variant is an automated manual transmission (AMT) offered at Rs 8,43,900 (ex-showroom). Some of the key features of the newly added variants include smart electric sunroof, digital cluster with Colour TFT multi-information display, an 8" touchscreen infotainment system with Android Auto and Apple CarPlay, rear air-conditioner vents among others. In a company statement, Hyundai said the new EXTER variants come with six air bags, 3-point seatbelts for all seats, tyre-pressure monitoring system, Electronic Stability control among others. Hyundai Motor India, in August, reported a 12 per cent year-on-year decline in its sales to 63,175 units as compared to 71,435 units sold in the same month of last year.

Automotive players gear up for festive season with dealership expansion

Maruti Suzuki, India's leading car manufacturer, recently celebrated the inauguration of its 500th Nexa outlet

EU new car sales flat in July as battery EVs lose market share, says ACEA

Improvements in the Belgian, Dutch and French electric-vehicle (EV) markets failed to offset a drop of almost 37 per cent in sales

Craftsman Automation surges 13%, hits record high on healthy outlook

The stock of the auto components and equipment company is trading higher for the fifth straight day, surging 23 per cent during the period.