Page 5 - Auto Industry

Royal Enfield moves through the gears amid growing competition in market

Competition in the middleweight segment and a growing market for electric bikes pose challenges for dominant two-wheeler player

GM scripts last lap of India journey, to cease manufacturing ops on Dec 24

The company rolled out the last model off its assembly line on October 31 for exports

Price hikes to dampen recovery prospects for Indian automakers: Fitch

Hikes come at a time when boost in some categories from pent-up demand and festive spending fades, and the economic impact from the pandemic reasserts itself, rating agency says

Maruti Suzuki's production in November rises 6% to over 1,50,000 units

The company had produced nearly 1,42,000 units in the same month last year.

Honda posts 55% rise in domestic sales in November at 9,990 units

Honda Cars India on Tuesday reported a 55 per cent increase in domestic sales at 9,990 units in November. The company had sold 6,459 units in the domestic market in November 2019, Honda Cars India Ltd (HCIL) said in a statement. Exports stood at 31 units last month, it added. "The festive season this year was good for us with sales improving by 55 per cent in November and contributing to overall industry growth. "With new and refreshed model line-up along with lucrative offers for consumers, we were able to leverage festive demand and register good sales," HCIL Senior Vice President and Director (Marketing & Sales) Rajesh Goel said. While the Amaze continues to show strong market performance, the all new City has been fuelling the demand in the mid-size sedan segment since its launch and maintaining its leadership position month after month, he added. "Although there are continuing challenges of pandemic and its impact on overall consumer sentiment, the rise in personal mobility

US agency opens probe into 115,000 Tesla vehicles over suspension issue

The auto safety regulator said it was opening a preliminary evaluation into 2015-2017 Model S and 2016-2017 Model X vehicles

Skoda India's plea to quash FIR for alleged use of cheat device dismissed

On November 4, the SC had reserved the verdict on the plea saying as to why should not the investigation go on in the case.

Passenger cars brightest spot in auto industry on high festive demand

Maruti and Tata Motors witnessed a strong demand.

Ashok Leyland floats new subsidiary to manufacture bus bodies, coaches

The new company will manufacture bus bodies and coaches

Tata Motors, M&M stocks see significant gains on improved demand outlook

While M&M closed at Rs 705.6 a piece, up 10.8 per cent - the highest in 18 months, Tata Motors' shares ended at Rs 173.6, a piece up 9.8 per cent-the highest in 33 months

Maruti Suzuki India sells more than 200,000 cars through online channel

The country's largest carmaker Maruti Suzuki India on Monday said it has sold over two lakh cars through the online channel. The company, which initiated its online sales platform around two years back, said the digital channel now covers nearly 1,000 dealerships across the country. "Since the introduction of this new digital channel in 2018, we have witnessed three times increase in digital enquiries and recorded sales of over 2 lakh units since April 2019. This digital channel has helped to generate over 21 lakh customer enquiries," Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava said in a statement. Citing 'Google Auto Gear Shift India 2020 Report', he said nearly 95 per cent of new car sales in India are digitally influenced as per the customers first research online and then buy at the physical dealerships. While online experience provides the complete spectrum of information to the customers, at the last mile the customers seek assurance of the

As demand outpaces supply, Oct tractor sales up 9 per cent over last year

Good monsoon followed by good crop have given a fillip to demand for tractors

Nissan Motor looking to sell its 34% stake in Mitsubishi, says report

Nissan is looking to sell some or all its 34% stake in Mitsubishi, Bloomberg News reported, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault

Tata Motors consolidated net loss widens in Q2 on weak operational show

However, the quarter reflected strong sequential recovery with positive pre-tax profit and major positive free cash flows following restart of production and reopening of global retailer network

Hyundai misses mkt estimates, posts qtrly loss as engine snag hit earnings

The automaker said it booked 2.1 trillion won to cover charges related to engine defects that increased the risk of stalling and fire

Out of the driving seat

We may have to wait till 2022-23, or even 2023-24 before sales climb back to the levels attained in 2018-19 and, as mentioned above, even those numbers were not inspiring

Auto dealers looking at rationalisation of infrastructure, manpower: FADA

Kia Motors and Toyota Kirloskar Motor met expectations of their dealers better than other companies in the passenger vehicle segment during the Covid-19 lockdown, FADA said

At up to 50%, cars in India suffer among the highest tax rates globally

Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%

Tax, high interest rates hurdles for growth of auto industry: Force Motors

The company, which makes commercial vehicles under the Traveller brand and utility vehicle Trax, said the situation calls for a very detailed and thorough reform

Suzuki Motor ups stake in Maruti to 56.37%, buys 284,322 equity shares

Prior to the transaction, Suzuki held a 56.28 per cent stake in Maruti Suzuki