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GM to retreat from robotaxis, stop funding Cruise autonomous vehicle unit

General Motors has said it will retreat from the robotaxi business and stop funding its money-losing Cruise autonomous vehicle unit. Instead the Detroit automaker will focus on development of partially automated driver-assist systems like its Super Cruise, which allows drivers to take their hands off the steering wheel. GM on Tuesday said it would get out of robotaxis given the considerable time and resources that would be needed to scale the business, along with an increasingly competitive robotaxi market. The company said it will combine Cruise's technical team with its own to work on advanced systems to assist drivers. GM bought Cruise automation in 2016 for at least USD1 billion with high hopes of developing a profitable fleet of robotaxis. Over the years GM invested billions in the subsidiary and eventually bought 90 per cent of the company from investors. GM even announced plans for Cruise to generate USD1 billion in annual revenue by 2025, but it scaled back spending on t

Cars set to get expensive from January as OEMs announce increase in price

Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Carmakers cite an increase in input costs and operational expenses as the main reason to implement price increases from the next month. Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units. "We have seen a few cycles of price increase in India. It happens at the beginning of the calendar year and financial year, but few OEMs pick the timing based on their planned launches as well," Deloitte India Partner Rajat Mahajan said. While there could be multiple factors for the price increase, the key one is due to a decline in profitability of a few large auto OEMs in the second quarter, he added. "Due to the festive .

Honda to launch three new models in India in 2026-27: CEO Tsumura

The electric car market is set to become increasingly competitive in 2025, with several carmakers, including Mahindra & Mahindra, Maruti Suzuki, Hyundai, and Kia, planning to launch their EVs

Skoda Auto looks to drive change with Kylaq's 8K monthly sales target

Targeting to treble Skoda's India sales riding on this vehicle

Kia India aims to double CKD exports by 2030; eyes West Asia, Africa

Kia India on Monday said it is eyeing markets in the Middle East and Africa as it aims to double the export of completely knocked down (CKD) units by 2030. To date, the automaker has exported one lakh units of CKD vehicles since it began shipments in June 2020 from its manufacturing facility at Anantapur in Andhra Pradesh. Kia India is one of the key export hubs for the South Korea-based Kia corporation, accounting for 50 per cent of the its CKD exports worldwide. In a statement, Kia India Chief Sales Officer Joonsu Cho said the automaker is grateful for the government's export-friendly policies, which have played a crucial role in strengthening country's position within the global automotive value chain. "Looking ahead, we aim to expand our CKD footprint to the Middle East and Africa, to double our export volume by 2030," he noted. The company is looking to export over 38,000 CKD units across Uzbekistan, Ecuador, and Vietnam markets this year, the automaker said. Cumulatively, t

Apple supplier TDK partners with McLaren Racing in bid for EV push

The speed of the broader transition from gasoline vehicles is debated, with Toyota chairman Akio Toyoda believing the global share of EVs will peak at 30 per cent.

Gujarat: 7 dead, 14 injured as bus jumps divider, hits 3 vehicles

The injured were rushed to a hospital in Khambhalia town and are currently treated there, they added

JSW MG to launch 4 luxury cars in 2 years, to be sold through new channel

The first luxury car will be launched in the first quarter of 2025, and the company plans to open 12 MG Select showrooms

Xiaomi will swallow EV losses for now to join Tesla, BYD in big leagues

We're more focused on our growth than profitability at this point, said Lam, a trained engineer and former Credit Suisse banker who orchestrated some of Xiaomi's biggest bets

Siam to address soaring inventory concerns in executive committee meeting

As inventory levels have surged to a high of 67-72 days, equating to Rs 73,000 crore worth of stock, the situation is raising alarms about the financial stability and sustainability of dealerships

India may lead global growth in light-vehicle production: S&P Global

As of 2023, India is the fourth-largest light vehicle producer with 5.4 million vehicles, upstaging Germany (4.3 million) and South Korea (4.2 million)

Delhi govt raises pollution under control certificate fees after 13 yrs

The revised fees for pollution under control certificates are Rs 80 for two and three-wheelers running on petrol, CNG, or LPG; Rs 110 for four-wheelers and larger vehicles using petrol, CNG, or LPG

Salaried professionals drive up sales of pre-owned cars in Q2 of 2024

The most popular car models among buyers included the Hyundai Grand i10, Maruti Suzuki Swift, and Baleno

Tata Motors drives Tata group companies' finances to new high in FY24

Tata Motors' consolidated net profit was up more than 1,200 per cent to Rs 32,203 crore in FY24 from the Rs 2,351 crore in FY23

Maruti Suzuki India sees 2% drop in sales to 174,551 units in May

Maruti Suzuki India on Saturday reported 2 per cent year-on-year dip in total wholesales at 1,74,551 units in May 2024. The company had dispatched a total of 1,78,083 units to its dealers in the same month last year, Maruti Suzuki India (MSI) said in a statement. Total domestic passenger vehicle sales rose marginally to 1,44,002 units last month from 1,43,708 units in the year-ago period, it added. Sales of mini segment cars, comprising Alto and S-Presso, declined to 9,902 units from 12,236 units in May 2023. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, also fell to 68,206 units from 71,419 units in the year-ago month. Utility vehicles, including Brezza, Grand Vitara, Ertiga, S-Cross and XL6, clocked sales of 54,204 units last month as against 46,243 units earlier. Sales of vans were at 10,960 units in May 2024 as against 12,818 units a year ago, while that of light commercial vehicle Super Carry stood at 2,692 units as against 2,888 un

Hyderabad man spends Rs 25 lakh on fancy number plate: What it'll cost you

Often referred to as 'VIP' numbers, fancy registration numbers are chosen for their unique combinations or sequences of digits and alphabets

Mahindra XUV 3XO bookings to start tomorrow; check features, safety, price

Mahindra XUV 3X0 will start accepting bookings tomorrow, days after being launched in India. The bookings will officially begin on May 15. Here's all you need to know

Toyota Motors to get an earnings lift from hybrids as EV hype cools

As global demand for battery-powered EVs has slowed, Toyota has cashed in by selling more hybrids, which come with relatively higher margins than regular gasoline cars

Car dealers may have to pay 18% GST on sale of demonstration cars

The ruling has evoked sharp criticism from experts who say it may lead to litigation