Page 10 - Automotive Industry

Ford India denies talks with Taiwan's Foxconn for selling Chennai unit

Automobile firm is finalising a severance package with 2,000 employees working at the factory

Hindustan Motors to sell 'Contessa' brand to SG Corporate Mobility

The company has executed a brand transfer agreement with SG Corporate Mobility Pvt Ltd on June 16, 2022 for an undisclosed sum

Ashok Leyland arm Switch Mobility to raise $300 mn, unveils e-bus platform

Firm currently has orders for over 600 buses, is betting big on govt tenders and sees market for e-buses growing 10x in next 2-3 years

Okinawa Autotech to invest Rs 1200-1,500 cr in e-two-wheelers in two years

This includes the JV with Tacita; company is in talks with PE firms

Front suspension of Ola Electric scooter broke while riding, claims user

Many other users too joined him with countless stories of quality issues, breakdowns and poor after-sales experiences on the same thread

Stellantis sees India as profitable auto mkt amid China, Russia challenges

Stellantis expects revenues in India to more than double by 2030 and operating profit margins to be in double-digits within the next couple of years.

Escorts lines up Rs 400 cr capex for FY23; eyes higher exports in 5-6 yrs

The company, which has started exporting electric tractors to markets like the US and Europe, expects it to contribute up to 15 per cent of its overall overseas shipments in the next five to six years

Bajaj Auto shares decline over 2% to Rs 3,804.80 on BSE after Q4 earnings

At the NSE, the stock dipped 2.57 per cent to Rs 3,805 apiece

Self Drive Nepal to be BYD electric vehicle's exclusive rental partner

A BYD service center will also be set up at Spark Group's facility in Guheshwori, Kathmandu, which is scheduled to be operational within May 2022

Skoda Auto India expands its pre-owned car biz to over 100 dealerships

Till date more than 2,500 used cars have been delivered through the company's Certified Pre-Owned network

Ashok Leyland total vehicle sales rise 17% to 20,123 units in March

Hinduja Group flagship Ashok Leyland on Friday reported a 17 per cent year-on-year growth in its total vehicle sales, including exports, at 20,123 units in March. The company had sold a total of 17,231 vehicles in March 2021, Ashok Leyland said in a statement. Total Medium and heavy commercial vehicle (M&HCV) sales spiked 26 per cent to 13,990 units in March 2022, as compared to 11,101 units in March 2021. Total LCV sales during the reporting month stood flat at 6,133 units, it stated. The company had sold a total of 6,130 light commercial vehicles (LCVs) in March 2021. Total domestic sales grew 18 per cent in the previous month to 18,556 units, as against 15,761 units clocked in March 2021, with M&HCV sales recording 29 per cent growth at 12,734 units, while the LCV sales declined 1 per cent at 5,822 units, as against 5,860 units sold in March 2021, as per the statement.

Maruti Suzuki: Genuine accessories available online in over 100 cities

The company said users can search accessories based on the vehicle model, variant and product category

Maruti Suzuki expects sales momentum to continue with better chip supplies

Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa said that the company could even reach the 2018-19 peak volume level if the chip supply remained adequate

Automotive industry to see more data-driven tech soon: Dell Technologies

The company has indicated that the transformation will be similar to that of the evolution that was seen in telecom and retail, which resulted in increased consumption of IT

French automotive supplier Faurecia cuts 2021 financial guidance

The company now forecast 2021 sales of between 15-15.5 billion euros and an operating profit margin of 5.5%, compared to a previous target of sales at 15.5 billion euros

Chip shortage: Ola electric scooter deliveries delayed up to one month

Schedule pushed back by two to four weeks after a meeting between its factory team and suppliers.

Aim to make Indian automobile sector no. 1 in world: Nitin Gadkari

Nitin Gadkari on Friday said his aim was to make the Indian automobile industry number one in the world

Motown in fast lane! Auto stocks eye up to 20% upside; MRF can hit Rs 1L

The NSE Auto index seems well placed to test its all-time high; Prominent auto stocks like Tata Motors, Bajaj Auto, Hero MotoCorp and TVS Motor can gain 3.5-10 per cent

Pure-play electric two-wheeler firms may fail to ride auto PLI scheme

Unsurprisingly, the maximum investment has gone into creating capacities for electric two-wheelers, followed by the rest

Chip shortage: What caused it and how will this impact you & industry?

In this podcast, we discussed why there is a semiconductor shortage and what are its impact