Page 11 - Automobile Industry

Maruti shareholders approve appointment of Hisashi Takeuchi as MD and CEO

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said its shareholders have approved the appointment of Hisashi Takeuchi as Managing Director and CEO. In a regulatory filing, the auto major said 99.89 per cent of votes polled through a postal ballot were in favour of the appointment of Takeuchi as MD and CEO. Similarly, 93.10 per cent of votes polled favoured the appointment of Kenichi Ayukawa as a whole-time Director designated as Executive Vice Chairman till September 30, 2022. The company's board in its meeting held on March 24 this year had appointed Takeuchi as the MD and CEO with effect from April 1, 2022, consequent to the completion of the term of Kenichi Ayukawa on March 31, 2022. Takeuchi joined Suzuki Motor Corporation (SMC) in 1986. With vast experience in the international operations at SMC as well as in overseas markets, he had been on the Board of Maruti Suzuki since July 2019, as Joint Managing Director (Commercial) since April 2021.

Tata Motors shares jump over 8% after narrowing of net loss in Q4FY22

The stock jumped 8.30 per cent to Rs 403 on the BSE; at NSE, it zoomed 8.31 per cent to Rs 403.25 apiece

MG Motor India crosses 100,000 cumulative sales mark in nearly 3 yrs

MG Motor, which started selling its vehicles in India with the launch of Hector SUV in June 2019, currently has a portfolio including the electric SUV, ZS EV, premium SUV Gloster and compact SUV Astor

Real estate, auto companies to bear the brunt of interest rate hikes

Niranjan Hiranandani, managing director of Hiranandani Group, said the RBI had to ensure that inflationary pressure on the individual did not get exacerbated by higher rates on home loans

TVS Motor April sales rise 24% to 295,308 units; exports increase 6%

TVS Motorcycle sales grew by 4%, from 133,227 units in April 2021 to 139,027 units in April 2022

Hyundai Motor total sales decline 5% in April; exports up to 12,200 units

Hyundai Motor India on Sunday reported a 5 per cent decline in total sales at 56,201 units in April 2022.

Skoda Auto India sales zoom over five-fold to 5,152 units in April

Skoda Auto India on Sunday said its sales surged by over five-fold in April to 5,152 units compared to 961 units in the year-ago period.

Rising input costs, supply chain woes headwinds: MG Motor India prez

Increase in raw material costs and semiconductor prices, coupled with supply chain disruptions could become headwinds for the auto industry, says MG Motor India President Rajeev Chaba

Mercedes-Benz India posts 26% rise in sales at 4,022 units in FY 22Q1

Mercedes-Benz India on Friday reported a 26 per cent jump in sales at 4,022 units in the first quarter of 2022, riding on robust demand for both its SUVs and sedans

Maruti Suzuki to hike vehicle prices this month amid rise in input costs

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range

'India to see 48k more EV chargers with investment of Rs 14k cr in 3-4 yrs'

India is likely to see around 48,000 more electric vehicle chargers at an investment of around Rs 14,000 crore over next 3-4 years amid an expected healthy EV penetration in the country, a report said

Passenger vehicle retail sales dip 5% in March to 271,358 units: FADA

Domestic passenger vehicle retail sales in March declined by 4.87 per cent to 271,358 units, as compared to the same month last year, automobile dealers' body FADA said on Tuesday.

PV demand to witness moderate growth over next few quarters: Report

The demand for passenger vehicles (PVs) will witness moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas, according to Acuite Ratings & Research. However, it said the volumes may remain partly constrained due to the continuing supply challenges in semiconductors and also the sharp increase in retail fuel prices. The domestic PV sales registered a healthy growth of 14.7 per cent year-on-year in FY22 despite the supply challenges in semiconductors that led to longer waiting periods and production cuts for certain models, Acuite said in a statement. The growth print was also supported by a low base factor, given the protracted lockdown in FY21, it added. "Acuite believes that the demand for PVs will witness a moderate growth over the next few quarters with complete unlocking of the economy and revival of demand, particularly in the rural areas," it said. For two-wheelers, the rating agency said the .

Easing supply side constraints of semiconductors fuel March PV sales' rise

Easing supply side constraints of semiconductors as well as healthy demand led many passenger vehicle manufacturers to report healthy wholesales during last month.

Supply chain worries for auto sector to continue even as demand improves

Industry fears Russia-Ukraine war will further dent recovery prospects as supply chains will be disrupted further

Tata Motors total domestic sales rise 30% to 86,718 units in March

The company recorded the highest-ever annual sales of 3,70,372 units, registering a growth of 67 per cent over FY21

Mahindra & Mahindra total sales up 35% in March to 54,643 units

Mahindra & Mahindra (M&M) on Friday said its total sales increased by 35 per cent to 54,643 units in March as compared with the year-ago period. The Mumbai-based auto major had dispatched 40,403 units in March 2021. The company sold 27,603 passenger vehicles last month in the domestic market as compared with 16,700 units in March 2021. It sold 23,880 commercial vehicles in the domestic market last month as against 21,577 units in the year-ago period. "We continued our growth trajectory in March 2022 with overall sales of 54,643 vehicles, a growth of 35 per cent. Demand continues to be strong, even as we remain watchful of the global supply chain and take appropriate action, as required," M&M CEO (Automotive Division) Veejay Nakra said in a statement. The company's exports last month stood at 3,160 units, up by 49 per cent from 2,126 units in March 2021.

Commodity crisis: Toyota to raise prices by up to 4% from April

"As a committed and customer-centric company, TKM has made all conscious efforts to minimise the impact of rising costs on consumers," said TKM Spokesperson in a statement

Chip shortage forces General Motors to pause production at Indiana plant

The Ft Wayne plant will be closed the weeks of April 4 and 11

BMW India to hike vehicle prices by up to 3.5% from April

The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates, the German automaker said in a statement