Page 12 - Automobile Industry

Top headlines: Supply chain hit due to Ukraine; FMCG increase products rate

Joe Biden will announce new sanctions against Russia on Thursday while in Brussels. More on that story in our top headlines.

'Humble and hidden' auto suppliers driving electric vehicle revolution

The shift to electric cars may pose an existential threat to suppliers of combustion engines but for auto parts firms such as TE Connectivity the challenge is keeping up with demand

Auto Expo to be held from January 13-18 next year

It was supposed to take place in February this year at Greater Noida but was postponed due to the worsening COVID-19 situation

Mahindra & Mahindra to increase stake in Carnot Technologies to over 53%

Mahindra & Mahindra Ltd on Wednesday said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet connected devices for monitoring performance of vehicles and equipment, the company said in a regulatory filing. The company will make a primary infusion of approximately Rs 2.5 crore for subscription of 1,613 Series C CCCPS (cumulative compulsorily convertible preference shares) of Carnot of Rs 100 each at a premium of Rs 15,391.65 per CCCPS. Further, it will have a secondary purchase for approximately Rs 11.5 crore of 7,423 equity shares of Rs 10 each at a premium of Rs 15,481.65 per equity share, the filing added. On the reasons for the acquisition, M&M said, "Carnot is expected to support the company's strategy by developing information technology solutions for its ...

Two-wheeler companies target nine-fold increase in electric vehicles

Top Indian two-wheeler companies are ramping up new capacity to hit over six million per annum by the calendar year 2023 to meet the anticipated demand for electric vehicles

Automobile dispatches decline 23% as supply-side challenges continue: SIAM

Wholesale of domestic passenger vehicles, two-wheelers and three-wheelers declined 23 per cent to 1,328,027 units last month, compared with 1,735,909 units in February 2021

Automobile dispatches dip 23% in Feb as supply challenges continue: SIAM

Automobile dispatches from factories to dealerships declined 23 per cent in February, as various supply-side challenges, including semiconductor shortage, industry body SIAM said

Chinese automaker SAIC's MG Motor India to raise funds for EV push: Report

'MG Motor India has yet to finalise how much money it plans to raise, which will depend on the valuation of the Indian business and its growth plans'

Japan's Renesas, Tata Elxsi partner in EV design centre

The centre in Bangalore will be a new hub for the two companies to develop crucial EV systems, such as battery management systems and motor control units

Ford set to announce plans to run EV, ICE as separate businesses: Report

The two units will have separate names but will remain under the Ford corporate umbrella.

Chip woes continue to hobble auto dispatches in Feb; TaMo, M&M buck trend

Leading carmakers Maruti Suzuki, Hyundai, Toyota and Honda witnessed a drop in vehicle dispatches to dealers last month as the global semiconductor shortage continued to impact production. Tata Motors, Mahindra & Mahindra, Skoda and MG Motor, on the other hand, reported an increase in wholesales in February as compared to the same month last year. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021. "The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact," the auto major noted. Sales of the company's mini cars, comprising Alto and S-Presso, fell 17.81 per cent to 19,691 units last month as compared to 23,959 in the same month last year. Similarly, dispatch of compact models like Swift, Celerio, Ignis, Baleno and Dzire dipped 3.38

M&M total sales jump 89% in Feb to 54,455 units, PV sales rise 80%

Mahindra & Mahindra (M&M) on Tuesday said its total sales increased by 89 per cent to 54,455 units in February. The company's total sales stood at 28,777 units in February 2021. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 80 per cent to 27,663 units last month as against 15,391 units in February last year, the auto major said in a statement. Commercial vehicle sales increased to 23,978 units last month as compared with 11,559 units in February 2021. The company said its exports last month stood at 2,814 units as against 1,827 units in the same month last year. "All segments showed robust growth including SUVs at 79 per cent, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. "We continue to closely monitor the semiconductor-related parts supply and take corrective action as appropriate," M&M Automotive Division CEO Veejay Nakra noted.

Hyundai Motor Feb sales fall 14% to 53,159 units, exports down 10.7%

The company had sold 61,800 units in the same month last year, Hyundai Motor India said in a statement

Automakers oppose six airbag rule, cite constraints on domestic capacity

Industry is now in discussion with MoRTH to reconsider the rule pointing out that there is no country where such a regulation is mandated

Ford recalls nearly 250,000 heavy-duty pickups over drive shaft issue

The recall covers certain F-250 and F-350 Super Duty pickups from the 2017 through 2022 model years. The trucks have gasoline engines and aluminum drive shafts

Two-wheeler sales volume to fall for third straight fiscal year: Crisil

'Three consecutive years of decline will take two-wheeler sale volumes back to the fiscal 2014 level and it may take 3-4 years to reclaim the peak sales volume of 2.11 crore seen in 2019'

Bosch acquires 26% stake in B2B e-commerce firm Autozilla Solutions

The Hyderabad-based, Autozilla Solutions specialises in the development of electronic parts catalogues for spare parts

Renault launches limited edition Triber at Rs 7.2 lakh amid sales milestone

To mark the milestone, Renault India has also launched a limited edition of the Triber priced at Rs 7.24 lakh

India wants Tesla to buy $500-mn local auto parts for tax break: Report

While it could start at a lower base, Tesla would need to agree to ramp up Indian parts purchases by around 10% to 15% a year until a satisfactory level was achieved, says a source

1 in every 4 cars will have 5G connectivity by 2025, says Report

One in 4 cars will have 5G connectivity by 2025 that will make better use of real-time data transfer and fast cloud-car communication, among other improvements, a new report has shown.