Page 3 - Automotive Industry

ARAI to invest Rs 500 cr over next 4-5 yrs to enhance H2ICE testing infra

The agency already has testing capabilities for ethanol 20 fuel-compliant vehicles

Popular Vehicles & Services Q4 results: PAT rises 40% to Rs 20 crore

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 ..

Indian small car exports thrive as domestic demand shifts to SUVs

Maruti Suzuki, Hyundai, Kia, Citroen, Volkswagen, Honda, Nissan, and Renault are finding markets abroad

Toyota reports booming profit, vows to invest to keep growth going

Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favorable exchange rate lifted results for Japan's top automaker. Toyota Motor Corp.'s annual profit totaled 4.9 trillion yen ($31.9 billion), up from 2.45 trillion yen the year before, while its sales jumped 21% to 45 trillion yen ($290 billion), the company said Wednesday. The results exceeded than Toyota's own projection for a 4.5 trillion yen ($29 billion) profit, as its global sales surged to 9.4 million vehicles from 8.8 million vehicles in the previous fiscal year. Sales of hybrids performed well, although Toyota stressed it was working hard to offer various kinds of electric vehicles, including battery EVs, plug-ins and fuel cell models. A weak yen worked as a big plus for Toyota, which makes the Camry sedan, Prius hybrid and Lexus luxury models. The U.S. dollar cost an average of 145 Japanese yen during the last fiscal year, up from 135 yen in the year before, according to

Election uncertainty could hurt Indian auto sales in May, says Fada

Analysts say concerns around how a new government's financial policies could affect peoples' income, and could discourage consumers from buying vehicles

Five per cent someone: What kind of ride is Tesla likely to have in India

Initially, Elon Musk's Tesla will address only 5-6% of India's light vehicles market. What kind of ride is it likely to have?

Tata Motors-owned JLR India sales rise 81% at 4,436 units in FY24

Tata Motors-owned Jaguar Land Rover (JLR) on Wednesday reported an 81 per cent jump at 4,436 units in its retail sales in India in the fiscal ended March 31, 2024. The year-on-year growth of 81 per cent represents one of the best performances in the market since the company's launch in India in 2009 and its highest in the last five years, JLR India said in a statement. Retail sales of SUVs, Range Rover, and Defender continued to grow with year-on-year increases of 160 per cent and 120 per cent respectively, it added. The newly launched 2024 model year 'Discovery Sport' and 'Range Rover Evoque' grew by 50 per cent and 55 per cent year-on-year respectively, the company said. JLR India Managing Director Rajan Amba said during the past year, JLR India achieved a series of retail sales records, resulting in a strong full year position for the year ended March 31, 2024. "We remain confident in our strategy and vision for the years to come. The positive gains we have made in the last yea

BMW, Tata Technologies to form JV for developing automotive software

The two firms have signed an agreement to form a joint venture (JV) with the aim to establish an automotive software and IT development hub in Pune, Bengaluru, and Chennai

Hi-Tech Gears hits new high; surges 26% in 2 days on healthy outlook

In the past six weeks, the stock of Hi-Tech Gears has soared 56 per cent; while, thus far in the financial year 2024, it has zoomed 159 per cent

Charging Ahead: A Deep Dive into the Tata Tiago EV Price, Performance, and Affordability

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Domestic passenger vehicle sales rise 11% in February, shows Siam data

Two-wheeler sales jump 34%; PV exports up 20%

Auto retail sales jump 13%, PV sales scale record high in February

PV sales moved up by 12 per cent to 330,107 units as compared to 293,803 units in February last year

Car leasing player Avyens eyes 8-10 per cent fleet growth in 2024

Indian car leasing market comprises of approximately 90,000 vehicles. Projection of Ayvens aligns with rising trend of car leasing as businesses seek more flexible & cost-effective mobility solutions

Female workforce grows in automotive manufacturing as tech adoption surges

Automation, skilled talent requirements, along with active measures to improve gender representation drive female hiring in the automobile industry

Mitsubishi to enter Indian car market with over 30% stake in TVS Mobility

Leveraging TVS Mobility's existing network of approximately 150 outlets, the new venture will also establish dedicated stores for each car brand

Automotive supplier ZF Group inaugurates new manufacturing unit in TN

With an Rs 1,800 crore project outlay, ZF plans to strengthen its manufacturing presence and expansion in India with investment realization by 2030

Bosch Q3 results: Profit up 62% driven by high sales in automotive segment

Overall product sales of the automotive segment have increased by 16.8 per cent compared to the same quarter of the previous year

Bridgestone appoints Hiroshi Yoshizane as head of India operations

Japanese tyremaker Bridgestone on Monday announced the appointment of Hiroshi Yoshizane as its new Managing Director for India. He succeeds Stefano Sanchini, who will be moving into the role of VP of Consumer Replacement for Europe, Bridgestone India said. Yoshizane, who moves to the new role from Bridgestone Japan, is the third MD of Bridgestone's India operations in a little over one year. Sanchini had in January last year assumed the position from then-incumbent Parag Satpute. Earlier, Yoshizane served as executive vice president of solution business, retail, and service business in Bridgestone Tire Solution Japan Co Ltd, the company said. "India is a strategic, evolving, and growth market for Bridgestone, with a unique set of opportunities and challenges, as the country's automotive sector is poised for major advances both in terms of numbers and technology," said Yoshizane. The development follows Bridgestone Corporation's recent announcement regarding the global reorganisat

Toyota Motor hikes annual profit forecast after Q3 beats expectations

TOKYO (Reuters) -Toyota Motor raised its full-year operating profit forecast by nearly 9% on Tuesday, after higher sales volumes and a weaker yen boosted its third-quarter results

Bharat Mobility Global Expo 2024: Venue, dates, tickets details here

The expo is poised to draw attendees from domestic stakeholders and international participants across 47 countries. Here is everything you need to know about India's global mobility expo