Page 5 - Automotive Industry

Stock of this auto ancillary company has zoomed 142% in last five months

The stock of the auto ancillary company has turned ex-date for a stock split in ratio of 1:5 i.e. 1 stock of face value of Rs 10 each into 5 shares of face value of Rs 2 per equity share

Auto industry Q2 preview: Product mix, commodity tailwinds to aid margins

Brokerages expect marginal drop in two-wheeler volumes

Auto workers shut down Ford's largest factory, threaten Stellantis

The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. In a surprise move on Wednesday night, 8,700 members left their jobs at Ford's Kentucky truck plant in Louisville. And Thursday morning, union President Shawn Fain hinted at further action against Stellantis. Here's to hoping talks at Stellantis today are more productive than Ford yesterday, Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The vehicles made at the plant generate USD 25 billion per year in revenue, the company said in a statement. Fain said in a statement that the union has waited long enough but Ford hasn't gotten the message to bargain for a fair contract. If they can't understand that after four weeks, the 8,700 workers shutting dow

Pricol announces technology, supply partnership with China-based firm

Automotive technology firm Pricol Ltd on Wednesday announced a partnership with China-based Heilongjiang Tianyouwei Electronics for Driver Information System (DIS), including e-cockpit, heads up display, for vehicle segments. The company said it has entered into a co-operation agreement for technology and supply of parts and systems with the overseas firm, which will support it exclusively on the projects identified for such collaboration. The company said it will source components and/or sub-assemblies from Heilongjiang Tianyouwei Electronics as part of the supply arrangement. "We are confident that our efforts will help in providing state-of-the-art solutions in the DIS space, where Pricol has a dominant position in the Indian market. "Pricol's domain expertise combined with Heilongjiang Tianyouwei Electronics's technological prowess marks a significant step towards achieving a vision of enhancing the driving experience for Indian customers," Pricol Ltd Managing Director Vikram .

India can become $1 trn export-led automotive hub by 2035: Report

India is the fourth-largest global automotive market, generating $250 billion in FY23 and contributing 7.3 per cent to the national GDP

Amara Raja Batteries rebrands as Amara Raja Energy & Mobility Ltd

The name change aims to better reflect the expansion of the organisation and encompass the range of solutions and products offered such as renewable energy storage solutions and EV chargers

Cheap cash to tax breaks: Here's how China subsidises its EV sector

Essentially, subsidies and support for any industry in China are usually a mix of payments and benefits at local, provincial and national levels

Generative AI, data analytics, automative design are skills most in demand

Sectors such as IT and BFSI showed the highest tech-focused intent-to-hire in Q1FY24.

Centre extends PLI scheme for automotive sector by 1 yr until FY28

The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years. "The scheme is being extended by one year," the Heavy Industries Minister told PTI, after reviewing the performance of the scheme with stakeholders here. Speaking with reporters on the sidelines earlier, he shared that the ministry has also accepted other suggestions made by auto industry stakeholders pertaining to the scheme including quarterly disbursement of subsidies and increasing the number of agencies testing domestic value addition

Indian automotive industry poised to rank number 3 in world by 2030: Govt

India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector's growth, the government said on Monday. Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production Linked Incentive -Auto Scheme. The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey. The event shall have special focus on understanding the opportunities available through this scheme. "MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme," the ministry stated. The stakeholders expected to be present in the meeting include PLI-Auto applicants, test agencies etc, who will share their knowledge and experiences and address concerns and challenges. "The cascading effect of these schemes will lead to the growth of automotive industry and it is poi

PM's I-Day speech lays blueprint for India to become developed by 2047: CII

Prime Minister Narendra Modi's Independence Day speech outlined the notable achievements of his government in the last decade, which have laid the blueprint for India becoming a 'Viksit Bharat' by 2047, industry body CII said on Tuesday. India is at a decisive turning point and has the strength to shape the new world order that was emerging in the aftermath of the COVID pandemic, Modi said on August 15 and assured the countrymen of a "New India" with a bright future in next five years. CII is confident that the prime minister's vision of seeing India emerge as the third largest global economy will be easily fructified in the next five years, its Director General Chandrajit Banerjee stated. Modi's address from the ramparts of Red Fort on 77th Independence Day would further the national resolve to become a developed country by 2047 while it is marching fast to be amongst the third largest economies of the world, ASSOCHAM Secretary General Deepak Sood said. CII's Banerjee said: "The .

Passenger vehicle sales set to cross 1 mn mark in festive period this year

Domestic passenger vehicle sales are expected to cross 10 lakh mark in the festive period this year with demand remaining robust, especially for utility vehicles. The 68-day festive period this year falls between August 17 and November 14. Few days in between are not considered auspicious for buying. In an interaction with PTI, Maruti Suzuki India Senior Executive Officer (Marketing and Sales) Shashank Srivastava said that usually the festive season sales account for around 22-26 per cent of the overall sales during a year. "With the overall passenger vehicle sales expected to be in the range of 40 lakh units this fiscal, the festive season is expected to witness sales of around 1 million units," he said. Srivastava said the industry has witnessed strong sales this year and the same is expected to continue in the coming months as well. "We have seen the best ever April, May, June and July in terms of sales this fiscal. July witnessed the second highest sales ever in a month at aro

Indian auto component industry saw highest-ever jump at 33% in FY23: ACMA

Revenues share from EV makers more than doubles to 2.7%

TVS Motors July sales: Total 2W sales up 4% YoY, exports down 20%

The company's total exports registered a 20% YoY dip with sales of 89,213 units in July 2023 as against 112,032 units in July 2022

Maruti Suzuki sales up 3.2% to 181,360 vehicles in July, thanks to SUVs

Utility vehicles (UV) of Maruti Suzuki include Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-cross, and XL6

M&M July sales: Total sales up 18% YoY to 66,124 units, exports down 9%

The automaker reported its highest-ever sales of SUVs at 36,205 units in July 2023 which is 30 per cent up from July 2022

Tata Motors July sales: Total sales down 1.41% YoY, CV sales down 4%

Domestic sales did not see any noticeable change with a difference of only 134 vehicles YoY

Bajaj Auto July sales: Total sales down 10% YoY, 2W sales dip 14%

2W exports were also down 16% YoY which came down from 150,670 in July 2022 to 126,850 in July 2023

Mahindra to unveil Thar EV concept on August 15: All you need to know

Continuing with the Thar's off-road character, the concept electric vehicle will also have a 4X4 set-up

Honda begins production of mid-size SUV Elevate; to go on sale in September

The sale for Honda Elevate is scheduled to begin in September 2023 along with the deliveries. Pre-launch bookings for the car have already begun