Page 10 - Automobile Industry

Supply chain constraints to continue to affect auto sector: Mercedes-Benz

The semiconductor shortage issue and supply chain constraints that have plagued the auto industry are unlikely to be resolved this year, said Mercedes-Benz India MD and CEO Martin Schwenk

When the chips are down: Why vehicle prices in India keep increasing

The primary reason is the supply chain bottlenecks arising due to a shortage of semiconductors

Nissan Motor India opens booking for Magnite RED edition, launch on July 18

The new edition is based on the model's XV variant and comes with various features like 8-inch touchscreen with Wifi connectivity

Vehicle sales up 27% in June, still away from pre-Covid levels: FADA

However, the overall automobile retail sales declined 8.68% compared with the corresponding month in June 2019, indicating that the broad-based recovery has yet to kick in

Govt mulls penalising companies for EV fire as voluntary recall begins

Nearly 7,000 e-two-wheelers taken off the roads; show-cause notice to companies sent based on findings of a report by a DRDO laboratory

Ashok Leyland reports 125% growth in total sales; 14,351 units sold in June

Commercial vehicle maker Ashok Leyland on Friday reported 125 per cent growth in total sales at 14,351 units in June as compared to the year-ago period. The company had registered a total sales of 6,448 units in June 2021, Ashok Leyland said in a statement. The total M&HCV sales, including exports, rose 238 per cent at 9,354 units in June 2022 as against 2,764 units in June 2021. The LCV total sales during the period under review stood at 5,177 units, which was 41 per cent higher compared to 3,684 units in the same month of 2021, it said. M&HCV domestic sales, including buses, grew 255 per cent at 8,399 units. The same stood at 2,364 units in the preceding year.

Audi clocks 49% sales growth at 1,765 units in January-June period

Audi India had retailed 1,181 units in the same period last year

SUVs to tractors: M&M not taking foot off pedal, on recovery road

Favourable agri macros, improving SUV demand, and easing commodity prices augur well for automaker

Sundram Fasteners says it will invest around Rs 400 cr in next 2 years

Government's production linked incentive scheme will be good for the automotive sector, says firm

Tech Mahindra CEO C P Gurnani's pay rises 189% to Rs 63.4 cr in FY22

Tech Mahindra managing director and chief executive CP Gurnani's remuneration for FY22 jumped 189 per cent to Rs 63.4 crore, the fifth-largest IT exporter said on Wednesday. In its annual report for the fiscal, Tech Mahindra said Gurnani's remuneration, including salary, stock compensation benefits and post-employment benefits was Rs 21.9 crore in the year-ago period. Among Gurnani's peers, TCS chief Rajesh Gopinathan saw a 26 per cent rise in his compensation to Rs 25.75 crore in FY22, while Infosys' Salil Parekh witnessed a 43 per cent jump to Rs 71.02 crore. Gurnani's salary was 1,188.74 times the median salary of Rs 5.27 lakh in Tech Mahindra. The median salary declined by 1.04 per cent during the fiscal. Shareholders of the company will be voting on a proposal to re-appoint Gurnani for over one year at the company's forthcoming AGM, the annual report said. The current term of Gurnani, who has been at the helm since 2012, expires in August and will be retiring on December 19,

Bajaj Auto to buy back shares worth Rs 2,500 crore at Rs 4,600 each

Two-wheeler giant Bajaj Auto to take back 5.43 mn shares at Rs 4,600 a piece

TVS to bet on electric vehicles; to come up with 5-25-kW products

TVS Motor Company is coming up with multiple products in the two- and three-wheeler segments

Are you planning to buy a car? Check out their NCAP ratings here

The Global NCAP crash-tests cars and rates them according to their safety levels. Here is what it found.

How the economic crisis in Sri Lanka is affecting Indian businesses?

Sri Lanka's economy is in a free fall. But some spillover of the Lanka crisis is hurting Indian businesses too, like the auto sector. We try to gauge the overall effect of the crisis on India

About 50% of Ford's Chennai employees agree to restart production: Official

Unions refute claim, say only 350-odd employees are heading back to shopfloor

EVs catching fire because of 'mad rush' to get into business: Rajiv Bajaj

'Upstarts and not start-ups have entered the sector'

Carmakers feel chip crisis easing as global economic growth slows

Mercedes Benz AG, Daimler Truck Holding AG, and BMW AG are among carmakers now getting enough of the high-tech components to produce at full capacity after experiencing crippling outages for months

Mahindra & Mahindra to launch fully electric version of XUV 300 in Q1 2023

Home-grown auto major Mahindra & Mahindra (M&M) on Monday said it is planning to launch the fully electric version of its XUV 300 SUV in the market in the first quarter of next year. The company also announced that it will unveil its electric vehicle business strategy, 'Born Electric Vision' of EV concept in August this year. The Mumbai-headquartered company has recently partnered with Volkswagen to explore the use of the latter's modular electric drive matrix (MEB) components that can be used in its electric cars. MEB electric platform and its components allow car manufacturers to build their portfolio of electrified vehicles, quickly and cost-effectively. "We will be launching the electric version of XUV 300, which we hope to have in the first quarter of the next calendar year," M&M executive Director Rajesh Jejurikar said at a media conference on Monday. He said that though it is called the electric version of XUV 300, it is a 4.2 meter in length vehicle and not sub-4 ..

When it comes to EVs, raising funds seems easier than building them

Stocks of EV upstarts, from New York-listed, Chinese firms such as Nio, Xpeng and Li Auto to their American peers Rivian Automotive and Lordstown Motors, have lost their sheen in recent weeks

Hindustan Motors plots a comeback; talks on for JV with European co for EVs

MoU signed, due diligence expected to start soon and conclude in 2-3 months; project will start two-wheelers and then add four-wheelers