Page 9 - Auto Sector

Steel firms expect pick-up in domestic demand from July, led by auto sector

Housing sector demand yet to get back with construction activity being impacted by lockdowns and migration of workers

India to require 400,000 charging stations for 2 mn EVs by 2026: Report

As per EV industry body - Society of Manufacturers of Electric Vehicles - there are 1,800 charging stations in India as of March 2021

Talbros Automotive's profit rise multifold to Rs 12.7 cr in Mar quarter

Auto component maker Talbros Automotive on Tuesday reported a multifold rise in consolidated profit to Rs 12.7 crore for the March 2021 quarter, backed by product mix and higher capacity utilisation.

Second wave to limit commercial vehicle volume growth to 23-28%: Crisil

As lockdowns ease from the second quarter, freight demand and rates could normalise, aiding demand for CVs.

After a washed-out May, can auto sales rebound anytime soon?

Analysts expect the 'pent-up demand' story to play out from the second quarter of the financial year 2021-22 (Q2FY22) as states unlock

M&M slips 7% as firm expects slower tractor sales growth in FY22

While growth in tractors is slowing down after robust growth in FY21, M&M's auto segment is expected to see strong momentum in both LCVs and SUVs, brokerage MOSL said

Local lockdowns to dent automobile month-on-month wholesale numbers

In May inquiries were significantly lower than normal levels, except in 'Tractors': Report

Mahindra lines up Rs 17,000 cr to steer growth over next three years

Mahindra & Mahindra is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses, a top company official said on Friday. The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical under its Project K2 by 2024-25. Addressing reporters in a virtual earnings call conference, Mahindra Group Managing Director and CEO Anish Shah said out of the Rs 17,000 crore planned to be deployed in the next three years, capital expenditure is at Rs 12,000 crore. It includes Rs 6,000 crore for conventional automotive, Rs 3,000 crore for electric vehicles (EVs) totalling Rs 9,000 crore for the automotive sector. While for the farm equipment sector, capex is at Rs 3,000 crore, he added. "So a total capex of Rs 12,000 crore (in three years). The remaining Rs 5,000 crore is ...

Renault-Nissan, Hyundai face shutdowns in India over workers' Covid fears

The workers have alleged their Covid-related safety demands have not been met

Hero MotoCorp gains 3% on resumption of production at all facilities

A healthy monsoon and harvest season along with a rebound in GDP should aid the industry's recovery from Q2 onwards, Hero MotoCorp management said

Icra downgrades growth peg of various auto segments due to second wave

Unlike the first wave, which was largely limited to urban clusters, the second wave has seen deeper and wider penetration, including rural hinterlands

Second coronavirus wave dents auto sector's recovery momentum: Icra

The second wave of Covid-19 has dented the recovery momentum of automobile sector's Original Equipment Manufacturers (OEMs) and auto-ancillaries, says ratings agency Icra

Tata Motors is vulnerable to near-term headwinds, say analysts

Its net worth has shrunk again; leverage ratio is up to a decade high

Hyundai extends free service, warranty period amid Covid-19 second wave

Hyundai Motor India on Saturday said it has extended warranty and free service timelines by two months for its customers who are unable to avail services due to lockdown conditions in their cities or states. The initiative has been taken in line with the automaker's support to customers across the country during these challenging times, the company said in a statement. "During these challenging times, the company has initiated multiple programs to expedite relief to people across the country by delivering lifesaving equipment. Also, we have announced the extension of warranty, extended warranty and free service to our customers by 2 months to ensure adequate support during these challenging time," Hyundai Motor India Director (Sales, Marketing & Service) Tarun Garg said. The automaker would continue to stand by its customers and ensure seamless support through its 24X7 road side assistance program thereby ensuring help in case of any emergency, he added.

Moody's upgrades outlook on Tata Motors to 'Stable' on sustained recovery

Recovery is from the trough hit Q1 of FY21, is expected to sustain over next 12-18 months, while the firm's credit metrics strengthen as well

CarDekho appoints Mayank Jain as the CEO of its new auto business

Automotive platform CarDekho Group has appointed media industry professional Mayank Jain as the CEO of its new auto business.

Covid-19: Maruti Suzuki extends free service, warranty period till June 30

The country's largest carmaker Maruti Suzuki India said it has extended free service and warranty period up to June 30, 2021, in the wake of the second wave of the coronavirus pandemic

Mercedes-Benz rejigs sales, marketing unit; appoints new marketing head

German premium car maker, Mercedes-Benz rejigged its sales and marketing unit and brought in Pradeep Srinivas as head of the marketing and customer services, replacing the incumbent Amit Thete

Hyundai undertakes six-day maintenance shutdown at manufacturing plant

Hyundai Motor India has commenced annual maintenance shut down at its Chennai-based manufacturing facility for six days starting May 10 amid the second wave of coronavirus pandemic.

Chip shortage in focus as Japan automakers ready to report profit drop

Japan's biggest automakers report what analysts expect to be depressed earnings this week