Page 8 - Automotive Industry

Corporate India gears up to hedge China supply risk amid Covid surge

The sectors in India that import from China include pharmaceutical (pharma), automotive (auto), textile, engineering, and electronic goods

Severity of injuries worst among auto workers in Pune, shows SII report

Nearly 83 per cent incidents in Pune reported a loss of body part of the worker, as compared to 67 per cent in Haryana (Gurugram and Faridabad)

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

Broader markets, especially automobile stocks, may also react negatively going ahead

Electric two-wheeler maker WardWizard's sales jump over two-fold in Nov

Electric two-wheeler maker WardWizard Innovations and Mobility on Friday said its sales surged over two-fold to 7,123 units in November this year as compared with the same month last year. The company, which sells Joy e-bike, had sold 3,290 units in November last year. Last month's sales number is the company's best-ever monthly performance till date. "With improved supply chain and consistent market expansion, we have been able to reach maximum customers, achieving another sales milestone. Our robust product portfolio and market presence have supported us to add new customers to the family," WardWizard Innovations & Mobility Chairman & Managing Director Yatin Gupte said in a statement. As customer purchasing sentiments are inclining towards electric vehicles to meet their daily mobility needs, the company is confident of carrying the same sales momentum in the coming months, he added.

Will low exports pause the rally in auto stocks?

Easing chip shortage helped auto sales touch the 1 million-mark in Q2. As demand entered a slow lane amid weak exports in October, the rally in auto shares lost its steam. Will this trend continue?

Two-wheelers rev up for mid-size battles amid rising competition

Royal Enfield has made aggressive moves in the 250-350 cc segment that it dominates, but the competition is accelerating

Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY

The company has also achieved a market share of 32 per cent in Q2FY23

Strong SUV sales bump up M&M's Q2 net by 46% YoY to Rs 2,090 crore

Revenue during the period rose 57% to Rs 20,839 crore from Rs 13,314 crore

Mahindra & Mahindra September quarter profit up 44% at Rs 2,773 crore

Homegrown diversified group Mahindra & Mahindra on Friday reported 44 per cent increase in consolidated profit at Rs 2,773 crore for September quarter, boosted by robust sales across business verticals. The group had logged a net profit of Rs 1,929 crore in July-September last fiscal year, Mahindra & Mahindra (M&M) said in a regulatory filing. Revenue from operations during the quarter under review rose to Rs 29,870 crore from Rs 21,470 crore in the year-ago period, it added. M&M, on a standalone basis, reported revenue of Rs 20,839 crore in the second quarter, up 57 per cent from Rs 13,314 crore in the same period a year ago, the company said. Profit after tax increased 46 per cent to Rs 2,090 crore in September quarter, as compared to the year-ago period. The auto major said it sold a total of 1,74,098 vehicles in the second quarter, higher 75 per cent from 99,334 units in September quarter 2021-22. Tractor sales increased 5 per cent to 92,590 units in September ...

Pricol Ltd reports consolidated Sept quarter net profit of Rs 47.52 crore

Pricol Ltd has recorded a consolidated profit for the July-September 2022 quarter at Rs 47.52 crore, the company said on Friday. The city-based automotive technology company had registered consolidated profit at Rs 14.66 crore during corresponding quarter of previous year. For the half year ending September 30, 2022 the consolidated profit grew to Rs 68.12 crore from Rs 20.60 crore registered in same period of previous year, the company said. The consolidated total income during the quarter under review went up to Rs 516.46 crore from Rs 409.49 crore registered in same period of last year. For the six-month period ending September 30, 2022 the consolidated total income grew to Rs 962.90 crore as against Rs 729.41 crore registered in same period of last year. "Whilst the demand from the industry remains stable, the supply chain disruptions and chip shortages still continue to put a stress on our top-line and bottom-line. With our focused efforts to meet the customer demand despite

Maruti Suzuki may boost Manesar plant capacity by 100k units by April 2024

Maruti Suzuki India (MSI) may increase its Manesar plant production capacity by one lakh units to cater to the enhanced demand before its Sonipat facility commences operations in 2025, a senior company official said. The country's largest carmaker may also look at expanding production capacity at its Gurugram-based manufacturing facility to cater to the rising demand for its products. Currently, MSI has a cumulative production capacity of 15 lakh units per annum at both Manesar and Gurugram plants. It additionally has access to 7.5 lakh units from parent Suzuki Motor's facility in Gujarat. The company has already commenced work at the new facility in Kharkhoda in Haryana. The plant is expected to be operational by 2025 with an installed production capacity of 2.5 lakh units in the first phase. "As of now, we have about 22.5 lakh capacity in Haryana plus Gujarat...And in times to come, we are in process of working on the Kharkhoda plant, which will be up and running in the year ...

Maruti Suzuki's Q2 suggests a big bounce for auto sector stocks

Revenue and net profit both were ahead of consensus estimates

Auto sales up 57% during Navratri as all categories put up strong show

Overall sales were also 27% higher than Navratri 2020 and 16% above the pre-pandemic season in 2019; trend seen continuing till Diwali

Automobile sales revved up 11% in Sept amid festival fervour: FADA

October likely to be good, too, amid the festival season

House panel moots spl projects to fill 29 mn skill gap in automotive sector

Calls for involving the industry to bridge the huge gap

Relief for automakers as govt defers six airbags rule to Oct 2023

Nitin Gadkari cites 'global supply chain constraints' as reason for the shift in decision

Bharat Gears trades ex-date for 1:2 bonus; stock zooms 20%

The management is cautiously optimistic of growth in Indian markets for automotive components, agricultural machinery and construction equipment

Exide to invest Rs 6,000 crore in setting up lithium-ion unit in Karnataka

Exide Industries expects an annual revenue of Rs 10,000 crore- Rs 12,000 crore in the next 8-10 years from the lithium-ion cell business

Visteon to come up new mfg unit in India; sets sight on West and North

This is in addition to the expansion plans at its existing manufacturing unit in Chennai

Chipmaker Nvidia Corp launches new system for autonomous driving

DRIVE Thor would be able to replace numerous chips and cables in the car and bring down the overall system cost, although he did not give specific numbers on savings.