Hyundai Motor India on Friday said its sales in the rural areas crossed one lakh-mark last year. The company said it has deployed its 100th Mobile Service Van (MSV) in Siliguri (West Bengal) to further strengthen its commitment to the rural markets. Hyundai Motor India Chief Operating Officer Tarun Garg said there was a growth of 17 per cent in the rural sales last year as compared to 2019. "We are confident that the company's growing rural network of over 600 outlets will act as a catalyst in enhancing customer peace of mind," he added. As upcountry customers demand more attention and care, the automaker has increased its rural manpower to over 5,000 in 2022, Garg said. Hyundai had commenced doorstep car care initiative with its first mobile service van in Meerut (Uttar Pradesh).
The Vehicle exports have witnessed an impressive growth during 2021-22. Export of the total number of automobiles increased from 41,34,047 in 2020-21 to 56,17,246 in 2021-22
The US-based car-sharing company Getaround has announced laying off about 10 per cent of its workforce with immediate effect
Ford Motor Co said quarterly profits fell and automaker predicted a difficult year ahead, sending its shares down after bell as investors were disappointed
The auto industry sold 346,000 units this January, compared to 295,000 a year ago
The automobile industry on Wednesday termed the Budget for 2023-24 as growth-oriented, saying the proposed measures will drive sustainable yet inclusive growth at a rapid pace. Automobile industry body Society of Indian Automobile Manufacturers President Vinod Aggarwal said a 33 per cent increase in capital outlay with an effective provision of Rs 13.7 lakh crore will spur growth in the economy, resulting in a positive impact on the domestic automobile industry. "Another appreciable feature of the budget is putting more money in the hands of the individuals by lowering effective personal income tax rates that should increase consumption and consequently lead to more demand," he added. All in all, this is a growth-oriented budget with a positive impact on the auto sector, Aggarwal said. Automotive Component Manufacturers Association President Sunjay J Kapur said the budget is a blueprint of a digitally enabled Aatmanirbhar Bharat, coupled with measures that will drive sustainable ye
Indian market is probably at its take-off point, says Vikram Pawah
Tata Motors on Friday said it will increase prices of its internal combustion engine-powered passenger vehicle range by 1.2 per cent on a weighted average basis from February 1. The company has been absorbing a significant portion of the increased costs on account of regulatory changes and a rise in overall input costs, and is hence passing on some portion through this hike, the auto major said in a statement. Effective February 1, 2023, the weighted average increase will be 1.2 per cent, depending on the variant and model, it added. The company sells various models like Nexon, Harrier, Safari and Punch in the domestic market.
Germany-based micro-mobility company Tier Mobility on Thursday announced that it will be laying off 7 per cent of its workforce amid restructuring
Hyundai Motor said on Thursday that its fourth-quarter net profit more than doubled from a year earlier on improved chip supplies, strong demand for its high-end SUVs and a weak won
With the West facing economic recession, job losses happening and while the Indian economy is predicted to grow, "Back to Bharat" is gaining ground in the executive placement segment, said CIEL
It also announces 100cc bike to compete with Hero MotoCorp, Bajaj Auto & TVS Motor in low-end segment
According to a report by Crisil recently, Brakes India derives 23 per cent of its total revenue from exports in the brakes and foundry divisions
The start-up had no track record developing technology and never confirmed how it would raise the £3.8 billion needed to start mass producing batteries, which reduces the average cost per battery
Automaker's rail share of logistics rises to 17 per cent
In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs
The Union government will give an additional Rs 2,000 crore to states under the Special Assistance for Capital Investment scheme to incentivise them to scrap old vehicles and also provide tax concessions to individuals for it. The government in 2022-23 Budget had introduced the 'Special Assistance to States for Capital Investment' scheme with an outlay of Rs 1.05 lakh crore. Under the scheme, financial assistance is being provided to state governments in the form of 50-year interest free loan for capital projects. Now, the Centre has earmarked an additional Rs 2,000 crore under the scheme to encourage states to scrap condemned government vehicles or those vehicles which are older than 15 years, besides providing tax concessions to individuals for scrapping old vehicles. In a letter to states last month, the finance ministry said that a new sector road transport has been identified for providing incentive tied to prescribed reforms by states under the scheme. Incentive for scrapping
People are curious to see the vehicles of future and also want to know which vehicles they will be able to use in the coming future, which have state-of-the-art facilities
To accelerate the global move toward sustainable vehicles, Toyota is suggesting simply replacing the inner workings of vehicles already on the roads with cleaner technology like fuel cells and electric motors. "I don't want to leave any car lover behind," Chief Executive Akio Toyoda said Friday, appearing on the stage at the Tokyo Auto Salon, an industry event similar to the world's auto shows. The message was clear: Toyota Motor Corp wants the world to know it hasn't fallen behind in electric vehicles, as some detractors have implied. Japan's top automaker, behind the Lexus luxury brands and the Prius hybrid, is highlighting its clout: It has all the technology, engineering, financial reserves and industry experience needed to remain a powerful competitor in green vehicles. Toyoda told reporters it would take a long time for all the cars to become zero emission, as they only make up a fraction of the vehicles being sold. Changing old cars to go green, or "conversion," was a better
He said that many people in the age group of 18-34 young people are losing their lives due to road accidents