Page 13 - Automobile Industry

Renault Kiger earns 4-star adult safety rating in Global NCAP crash test

Automaker Renault on Tuesday said its sub-four metre compact SUV Kiger has received four-star safety rating for adult occupant safety by Global NCAP, the foremost global car assessment programme.

PLI for auto to create 7.5 lakh additional jobs in 5 years, says official

The Production Linked Incentives Scheme for the automobile and auto components sector will lead to creation of 7.5 lakh additional jobs and incremental production worth Rs 2,31,500 crore over the next five years, a top official said on Monday. Ford, Tata Motors, Suzuki, Hyundai, Kia and Mahindra & Mahindra are among the 20 companies that will be eligible for receiving incentives under the Production Linked Incentives (PLI) Scheme for the automobile and auto components sector, PTI reported last week. The applicants have been approved under the Champion Original Equipment Manufacturers (OEM) Incentives scheme. "The 20 companies we selected have committed an investment of more than Rs 45,000 crore. So as per our scheme target, our scheme is of Rs 25,938 crore, so we expect this will lead to incremental production of Rs 2,31,500 crore," Secretary in the Heavy Industry Ministry Arun Goel told PTI in an interview. Highlighting that the scheme gives incentives only on such products which

Eicher Motors net profit drops 14% at Rs 456 crore in Q3 as sales drop

The company had posted a consolidated net profit of Rs 532.59 crore in the December quarter of 2020-21

Motherson Sumi shares decline nearly 5% after 80% fall in Q3 PAT

The stock tanked 4.82 per cent to settle at Rs 171.70 on BSE, it declined 4.54 per cent to close at Rs 172.15 on NSE

Ford reconsiders India after halting production, this time for EVs

In a statement on Friday, the company said it was 'exploring the possibility of using a plant in India as an export base for EV manufacturing'

Auto components major Motherson Sumi Q3 net dips 80% to Rs 226 crore

Total revenue from operations stood at Rs 16,117.51 crore in the quarter under review against Rs 17,092.44 crore in the year-ago period

Maruti Suzuki Q3 results: Net profit skids 48% on global chip shortage

Expects no demand let-up; targets production ramp-up in Q4

Budget 2022: FADA seeks GST rate cut on two-wheelers to 18% to spur demand

Automobile dealers' body FADA has urged the government to reduce GST rates on two-wheelers to 18 per cent in order to generate demand in the segment.

Kia India garners 7,738 bookings for its latest model Carens on first day

Automaker Kia India said it has received 7,738 bookings of its upcoming model Carens on the first day of commencing the order process

Tesla isn't in India yet due to 'challenges with govt', says Elon Musk

Disagreements over a local factory and the country's import duties of as much as 100% have led to an impasse between the company and the administration.

Implement uniform 18% GST rate on all auto components: ACMA

Industry body Automotive Component Manufacturers Association (ACMA) has urged the Centre to implement a uniform GST rate of 18 per cent on all auto components.

Top headlines: Govt to allow FDI in LIC, auto firms stare at muted Q3

Nifty50 firms' combined net profit seen rising 25% in third quarter. More in today's top headlines

Change your car's colour with an app: BMW unveils colour-changing car

The concept car, called the BMW iX Flow, uses electronic ink technology normally found in e-readers to transform the car's exterior into a variety of patterns in gray and white

EV may become dominant form of transport in India in near future

More stringent statutes for the adoption of EVs will give a big push to electric mobility.

Electric vehicles sales in India to touch 1 million units this year: SMEV

Sales of total electric vehicles in India are expected to be around 10 lakh units this year, equal to what was sold collectively in the last 15 years, SMEV said

Japan's car sales fall but at slower pace as supply constraints ease

Auto sales are among data closely watched by analysts for clues on how quickly Japan's output and consumption can recover from last year's pandemic-induced slump

Analysts cautious on auto stocks amid uneven recovery

Passenger vehicle OEMs' attempt to catch up to the demand was impacted by production cuts, while demand for two-wheelers and PVs remain weak. Find out if you should chase the rally in auto stocks

Ashok Leyland sales slip 2% to 12,518 units in December 2021

Hinduja flagship firm Ashok Leyland on Monday reported a 2 per cent decline in total commercial vehicle sales to 12,518 units in December 2021. The company had sold 12,760 units in the same month in 2020, Ashok Leyland said in a statement. Domestic sales were down 3 per cent at 11,493 units in the month under review, as against 11,855 units in December 2020, it added. However, medium and heavy commercial vehicle sales were up 9 per cent at 6,752 units in December 2021, compared to 6,173 units in the year-ago month. Sales of light commercial vehicles in the domestic market were down 17 per cent at 4,741 units, as against 5,682 units in December 2020, the company said.

Tata Motors, Eicher, Maruti: Will auto shares breakout for bigger gains?

Automobile shares may breakout after crossing significant resistances

Lamborghini looks to deliver consistent growth in India during 2022

Italian super sports car maker Lamborghini is driving into 2022 looking to deliver consistent growth in India building on the momentum of a record year achieved in 2021