Page 27 - Automobile Industry

Fatal incident halts Hyundai's South Korean factory after retooling

Hyundai Motor Group Chairman Euisun Chung expressed deep condolences in a New Year's message on Monday

Tata Motors partners with Karnataka Bank for retail finance support

Tata Motors has signed a memorandum of understanding with Karnataka Bank to introduce financing offers for customers

Ford unveils 2021 line-up of compact SUV EcoSport; starts at Rs 7.99 lakh

Ford India on Monday introduced the 2021 line-up of its compact SUV EcoSport with features such as sunroof in the Titanium Trim, enhanced connectivity features and an enhanced warranty at a starting price of Rs 7.99 lakh. The SUV comes in five trims -- Ambiente, Titanium, Titanium +, Trend and Sports, according to a release. The American car maker, which recently called off its proposed partnership with domestic auto major Mahindra & Mahindra, had rolled out the sub-4 meter SUV EcoSport first time in the Indian market in June 2013. Ford's product portfolio in India currently comprises six cars -- Figo, Freestyle, Aspire, EcoSport, Endeavour and Mustang. In the tradition of bringing what consumers want and value, we are happy to bolster the EcoSport line-up and make every variant compelling in terms of features and value, said Vinay Raina, executive director Marketing, Sales and Service at Ford India. With the new line-up, we have not just addressed the customer feedback on making

Two-wheeler EV firms see growth in post-Covid demand for personal transport

SMEV data shows that two-wheeler EV sales between April and December stood at around 80,000 units - 3,000 units in Q1 (April-June), rising to 35,000 units in Q2 and 42,000 in Q3

Mahindra reports 10% decline in total sales for December

Mahindra & Mahindra (M&M) on Friday reported a 10.3 per cent decline in total sales at 35,187 units in December, 2020. The company had sold 39,230 units in December 2019, M&M said in a statement. In the domestic market, passenger vehicle sales were up 3 per cent to 16,182 units last month, compared to 15,691 units in December 2019. In the commercial vehicles segment, the company sold 16,795 vehicles in the domestic market last month, as against 21,390 units in December 2019, a drop of 21.48 per cent. Exports increased by 3 per cent to 2,210 units in December 2020, as against 2,149 units in the year-ago month. "Our overall sales have been affected due to the continuing supply chain challenges related to the constantly changing global environment, more specifically the supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs)," M&M Chief Executive Officer Automotive Division Veejay Nakra said. Demand continues to remain strong even ...

Toyota Kirloskar posts 14% growth in India sales at 7,487 units for Dec

Toyota Kirloskar Motor (TKM) on Friday reported 14 per cent growth in its domestic sales to 7,487 units in December 2020. The car maker had sold 6,544 vehicles in December 2019. "As we wrap up the year, we are happy to have registered a 14 per cent growth in wholesales in December 2020, when compared to sales in the same period in 2019," said Naveen Soni, Senior Vice President, Toyota Kirloskar Motor (TKM). He said customer orders have been rising significantly and retail sales (dealer's sale to customers) have also been very encouraging which gives the company confidence to embark upon a new target as it welcomes the New Year 2021. "We have also managed to retain more than 6 per cent growth in wholesales in the last quarter of calendar year 2020, when compared to the last quarter of 2019," he added. December witnessed a few adjustments in terms of production, due to new model launches as well as year model changes, Soni said, adding, "This also included our efforts to exhaust the

Ford Motor, Mahindra call off JV over global economic, business conditions

The latest move will not have any impact on its product plan, Mahindra and Mahindra said

MG Motor India says its sales increased 33% to 4,010 units in December

MG Motor India on Friday said its sales rose by 33 per cent to 4,010 units in December, 2020 as compared to 3,021 units in the same month a year ago

Maruti Suzuki sales rise 20 per cent to 160,226 units in December

The country's largest carmaker Maruti Suzuki India (MSI) on Friday reported a 20.2 per cent increase in sales to 160,226 units in December

Wholesales to grow on low base for all automobile segments: Motilal Oswal

Wholesale volumes in the automobile sector are estimated to grow at 14.4 per cent for two-wheelers on a low base and 5.4 per cent for passenger vehicles due to year-end sales, Motilal Oswal Financial Services said on Tuesday.However, commercial vehicle volumes are likely to decline by 2.8 per cent (LCV growth of 4.7 per cent but restricted by a decline of 11.6 per cent in M & HCVs).At the same time, said the Motilal Oswal report, wholesale volumes for tractors are expected to grow by 38.4 per cent year-on-year on robust demand and lower base.Discounts currently stand 50 per cent as compared to last year. Inventory is lower than normal for passenger vehicles and tractors, leaving headroom for higher inventory filling in the coming months.Wholesales are expected to grow on a low base in December, catering to the spillover demand from the festive season and inventory refilling (for passenger vehicles and tractors).Motilal Oswal said the two-wheeler inventory currently stands at 30 to

Indian auto industry expected to see stronger growth in 2021-22: Nomura

The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the COVID-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2023-24, it added. In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM). "After the devastating effects of the COVID-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said. As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2023-24 whereas .

Based on a next generation platform, Volvo S60 retains safety-first focus

Sporty with a muscular sedan-like look and kitted with a petrol engine, the S60 scores big on comfort as far as interiors go

Royal Enfield moves through the gears amid growing competition in market

Competition in the middleweight segment and a growing market for electric bikes pose challenges for dominant two-wheeler player

Indian auto industry expected to see stronger growth in 2021-22: Nomura

The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the COVID-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India. However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2022-23, it added. In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM). "After the devastating effects of the COVID-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said. As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2022-23 whereas .

Indian automakers fear container shortage to hit parts supply, output

A global surge in demand for certain goods during the pandemic has upended normal trade flows

Brakes on Civic, CR-V car models: How Honda lost the plot in India

Honda, which is shifting its entire manufacturing facility to Tapukara in Rajasthan, however, says this will help it to rationalise cost and have a better shot at profitability

Nissan to hike prices of all vehicles in India by up to 5% from January

Japanese automaker Nissan on Wednesday said it will hike prices of its vehicles in India by up to 5 per cent across models from next month to offset increased costs. The revised prices will be applicable across all available models for Nissan and Datsun, effective January 2021, Nissan Motor India said in a statement. The company sells a range of mass market vehicles under the Datsun and Nissan brands, including Datsun Redi-Go, newly launched SUV Magnite and Kicks, with prices in the range of Rs 2.89 lakh to Rs 14.15 lakh. Commenting on the price hike, Nissan Motor India Managing Director Rakesh Srivastava said, "In the current challenging market conditions, we are constrained to increase the price of all Nissan and Datsun models due to increased costs. The proposed price increase will be effective from January 2021." Other automobile makers like Maruti Suzuki India, Renault India, Honda Cars, Mahindra & Mahindra, Ford India, Isuzu, BMW India, Audi India and Hero MotoCorp have ...

Honda announces closure of decades-old Greater Noida manufacturing plant

Honda Cars India Ltd (HCIL) on Wednesday formally announced closure of manufacturing operations at its Greater Noida facility in Uttar Pradesh. The automaker said the decision to cease production at the plant, which came up in 1997, has been taken as part of realignment of manufacturing operations with the goal of improving business efficiency. With the closure of Greater Noida facility, HCIL has also discontinued CR-V and Civic models in the country.Both the models were being manufactured at the plant. "To maintain sustainability of operations by leveraging production and supply chain efficiencies, the company has decided to consolidate the manufacturing operations for vehicles and components at its Tapukara plant in Rajasthan with immediate effect for all domestic sales and exports", HCIL said in a statement. All head office functions, India R&D centre and spare parts operations (including warehouse) for automobile, two wheeler and power product business would however continue ..

Apollo Tyres launches portal to foray into online sales space

Apollo Tyres on Tuesday forayed into online sales space with the launch of an e-commerce portal that allows customers in India to buy car and two-wheeler tyres. This will work on the 'buy online, fit offline' model, where consumers can purchase their chosen tyre online and book an appointment with Apollo Tyres' dealer nearest to their location, to get the tyres fitted and serviced, the company said in a statement. The service will be initially available to customers in Delhi-NCR, Bengaluru, Mumbai and Kochi and will soon be expanded to other cities across the country, it added. Commenting on the launch of e-commerce portal, shop.apollotyres.com, Apollo Tyres President, Asia Pacific, Middle East & Africa (APMEA) Satish Sharma said the move symbolises the next step in the company's growth journey in India and its commitment to respond to customer needs. "This e-commerce platform will offer the consumers with a seamless online shopping experience, in addition to enabling an ...

Covid-19-battered auto sector drives into 2021 with cautious optimism

Already battered by an unprecedented slowdown before the coronavirus pandemic, the resilience of the Indian auto industry was tested severely when the nationwide lockdown was announced towards March