Page 12 - Auto Sector

Tough eligibility may limit benefits to large cos under PLI for auto sector

The government will soon come out with detailed scheme to offer production linked incentive (PLI) to automobile and auto components industry

Mahindra total sales dip over 11% in February to under 29,000 units

Mahindra & Mahindra (M&M) on Monday reported an 11.38 per cent decline in total sales at 28,777 units in February. The company had sold 32,476 units in February 2020, M&M said in a statement. Passenger vehicles sales increased by 41 per cent to 15,391 units last month, as compared with 10,938 units in the year-ago period. In the commercial vehicles segment, the company sold 11,559 vehicles in the domestic market last month, as against 19,699 units in February 2020, a drop of 70.42 per cent. Exports declined by 1 per cent to 1,827 units last month, as against 1,839 units in the year-ago month. "Demand continues to remain buoyant for our range of SUVs and Pick-ups and we have a robust order pipeline. However, supply of semiconductors, as we all know, is a global issue and it is likely to continue for another 3 to 4 months," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Going forward, the company will continue to monitor the situation and closely work

Tata Motors total sales surge 51% at 61,365 units in February

The auto major reported a 21 per cent increase in total commercial vehicle sales

Need to promote decent and sustainable work in automotive industry: ILO

There is an urgent need to invest in education, training and life-long learning for all in the automotive industry, ILO said

Uber, Amazon Pay partner to install safety screens in 40,000 autos

Initiative will cover seven cities

Tube Investments ropes in Korean firm for 3-wheeler EV technology

Company will start making and selling the vehicles by December 2021 or January next

Japan's Suzuki Motor bets big on India for its record sales target

Intends to sell 3.7 mn units globally by 2025, with 67% contribution from Asia

Margin pressures may offset volumes gains for Schaeffler

Higher content per vehicle, steady aftermarket and exports are growth drivers

Expect domestic PV industry growth in double digits in FY22: Tata Motors

Tata Motors expects domestic passenger vehicles industry to grow in double digits in 2021-22 on the back of continued robust demand momentum

Tata Motors consolidates SUV portfolio, brings new Safari at Rs 14.69 lakh

Homegrown auto major Tata Motors is gearing up to cast a wider net in the segment

Maruti Suzuki weighing its options on launching Jimny in India

The carmarker is evaluating the feasibility of launching its off-roader Jimny in the domestic market

OLX Autos unveils new product platform for pre-owned car trade

The firm unveiled a new web as well as a mobile platform designed to bring a new level of innovation and convenience to pre-owned car trading in India

FADA initiates annual study to identify gaps between OEM, dealers

Automobile dealers' body FADA on Wednesday said it is initiating an annual dealer satisfaction study

Auto parts major Bharat Forge's third quarter net loss at Rs 210.45 crore

The firm reported a consolidated net loss of Rs 210.45 crore in the third quarter ended December 31, 2020

Toyota hikes profit forecast 54%, shrugs off global chip supply issues

Toyota Motor Corp said on Wednesday it has an up to four-month stockpile of chips

Honda, Nissan to sell a qtr of a million fewer cars due to chip shortage

Asian chipmakers including Taiwan Semiconductor Manufacturing Co are expanding production to make up for shortages, but have warned that it may take some time to crank up output

PV retail sales dip 4% in Jan as semiconductor shortage impacts vertical

Automobile dealers' body FADA on Tuesday said passenger vehicle (PV) retail sales in January witnessed a year-on-year decline of 4.46 per cent to 2,81,666 units

Vehicle registrations in January declines over 9% from last year

Vehicle registrations in January 2021 declined 9.66 per cent on a year-on-year (YoY) basis

M&M rallies 10%, nears record high on strong operational performance in Q3

M&M expects the industry to log around 20 per cent YoY volume growth in the tractor segment for FY21E

EU electric and plug-in hybrid car sales jump to over 1 million in 2020

Sales of fully-electric vehicles more than doubled from last year