Page 2 - Auto Industry

SIAM requests GoI to include auto spares in Line of Credit to Sri Lanka

India has recently announced $1-bn line of credit to Sri Lanka to help the country tide over the current economic crisis

Auto industry to reach pre-pandemic highs by FY2024, says FADA

FADA anticipates the auto industry to come out of the woods and reach pre-pandemic highs by FY2024

Maruti, Hyundai see dip in March sales; TaMo, Kia post highest-ever sales

The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic dispatches in March declined 7 per cent to 1,43,899 units from 1,55,417 units in the year-ago period. For the full financial year 2021-22, the company posted a total sales of 16,52,653 units, a growth of 13 per cent over 2020-21. "The shortage of electronic components had some impact on the production of vehicles in FY 2021-22. The company took all possible measures to minimise the impact. As the supply situation of electronic ...

India Ratings revises auto sector outlook to 'neutral' for FY23

Domestic automobile sales volume is expected to grow 5-9 per cent year-on-year in 2022-23, after three consecutive years of decline, and is likely to fall 5-8 per cent in 2021-22: India Ratings

Auto Industry fear shortage of semi-conductor due to Ukraine-Russia crisis

With omicron passing away without much impact and supplies showing signs of recovery, it looked as if Indian Auto Industry was at the cusp of recovery until Russia invaded Ukraine

Spinny acquires AI-powered car connectivity solutions' startup, Scouto

Founded by ex-racecar driver Akshay Gupta (CEO) and Shubham Sharma (CTO), Scouto has built an end-to-end connected car technology suite.

Chip crunch, pandemic, high costs drag Dec qtr auto sales to multi-year low

The auto industry body expects current quarter to be better but stops short of sharing any guidance owing to pandemic related uncertainties

China's auto sales fall for eighth straight month in Dec amid chip shortage

China's auto sales in December fell 1.6% from a year-ago period, the eight consecutive monthly drop, industry data showed

Volkswagen expects to double pre-owned car sales to 20,000 units this year

Volkswagen entered the used car market in 2012

Buyers may go for cars with lower running costs as fuel prices spike: Study

With fuel prices going up by 35% over the past 15 months, cars that have higher fuel efficiency and lower maintenance costs are expected to gain higher traction among buyers in India, a report said

Icra slashes growth forecast for auto parts industry to 17-20% for FY22

Icra cited the impact of semiconductor shortage on domestic vehicle manufacturers as well as on exports revenues

Bajaj Auto swaps stake in KTM to get a share in Pierer Mobility

PMAG ups stake in KTM AG from 51.7% to 98.2%; Bajaj Auto becomes indirect partner in all PMAG brands

Ford India head quits after company decides to stop making cars: Report

Anurag Mehrotra spent over a decade with Ford in India across multiple roles including marketing, sales and most recently as president and managing director

Octavia 2021: Skoda's premium but pricey sedan comes packed with features

Octavia 2021 punches above its weight

Semiconductor chip shortage: Industries face further output cuts and delays

Auto sector to be among the most affected by the crisis

The Morning Show, Ep 3: Troubled carmakers, retro tax headway, & T+1 cycle

Why do top global carmakers fail in India? Will Cairn settlement herald the end of India's retro tax migraine? What will T+1 settlement cycle change for Indian markets? Get answers in this episode

Revised PLI scheme would give the right impetus for the industry: TVS Motor

The revised PLI Scheme announced by the Centre on Wednesday would give the right impetus for auto industry to move faster towards future technologies, TVS Motor Chairman Venu Srinivasan said.

Chip shortage hits domestic auto wholesales in August; dispatches dip 11%

Automobile wholesales in India declined 11 per cent year-on-year in August, as the semiconductor shortage hit production processes across the industry, SIAM said on Friday.

Maruti Suzuki hikes prices by up to 1.9% due to increase in input costs

The country's largest carmaker Maruti Suzuki India on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect

Carmaker Mahindra warns of 20% dip in production due to chip shortage

Indian car maker Mahindra and Mahindra said on Thursday it expects a 20%-25% drop in September vehicle production at its automotive division due to semiconductor shortages