Page 3 - Automobile Makers

Maruti's share in Suzuki's sales revenue jumps to a 7-year high

Suzuki holds a 56.37 per cent stake in Maruti Suzuki

French car maker Renault splits in five businesses to boost profit

Renault said it targeted operating margins of 8 per cent for 2025 and rising to more than 10 per cent in 2030, from 5 per cent expected this year

Maruti chalks out road to FY24 with 2.4-million production capacity

Maruti Suzuki chairman R C Bhargava says that each year the company, based on workers' suggestions, has saved around Rs 300 crore in costs

Nissan Motor likely to snub Renault revamp over sharing technology

While both sides appeared near a final agreement two weeks ago, Nissan's board and management have recently expressed concern over Renault's plans for the intellectual property

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

TVS Motor sales up by 2% in October, sells over 300,000 units

Domestic two-wheeler sales registered growth of 7 per cent increasing from 258,777 units in October 2021 to 275,934 units in October 2022

Impossible for any automobile company to be profitable in 1st yr: MG Motor

MG Motor India on Tuesday said it is impossible for any automobile company to be profitable in the very first year of its operations, in response to a notice from the Ministry of Corporate Affairs regarding why they have operational losses in the first year of operations 2019-2020. In a statement the company said it has received a "notice seeking clarifications primarily on why we have operational losses basis our annual report for the first year of operations 2019-2020". However, according to a report, the Ministry of Corporate Affairs has asked the company to explain irregularities and audit deficiencies of its financial records with its directors and auditor being summoned. "We fully cooperate with the government authorities on all issues and are in process of providing the desired records and information to the Registrar of Companies within the stipulated time frame," MG Motor India said. At the same time, it added, "we would also like to state that it is impossible for any ...

Mercedes-Benz India records Rs 441-cr PAT in FY23 after two years of losses

Luxury carmaker Mercedes-Benz India recorded a profit after tax of Rs 441.4 crore in the fiscal ended March 31, 2022, after two years of losses, according to financial data accessed by business intelligence platform Tofler. The company, which is not a publicly listed entity, had posted a loss after tax of Rs 107.1 crore and Rs 86.5 crore in 2020-21 and 2019-20 respectively. Revenue from operations in FY22 were at Rs 6,188.5 crore. This was the company's highest revenue after FY19 when it had clocked Rs 6,314.3 crore with a profit after tax of Rs 311.4 crore. In the fiscal ended March 31, 2021, the company's revenue from operations had dipped to Rs 3,639 crore with the pandemic impacting vehicle sales. In FY20, the company's revenue from operations was at Rs 4,819 crore, as per the Tofler data. Mercedes-Benz India's operating revenue in the year ended March 31, 2018 was at Rs 6,077.9 crore and it had posted a profit after tax of Rs 306.6 crore. In terms of unit volume sales, ...

Audi India retail sales up 29% to 2,947 units during Jan-Sept period

German luxury carmaker Audi on Friday reported a 29 per cent growth in retail sales at 2,947 units in the January-September period of this year in India. Audi India had retailed 2,291 units in the same period last year. The growth was driven by the new A8 and Q7, coupled with continued demand for the e-tron range, A4, A6, Q5 and the RS performance range, the company said in a statement. In addition, Audi Approved: plus, the company's pre-owned car business, has grown by 73 per cent in the first nine months of 2022, it added. "Our performance in the first nine months has laid the foundation for a positive performance in the remainder of the year. "Robust growth, despite the semiconductor shortage and global supply-chain issues reiterates the customers' enthusiasm around the brand and our wide product portfolio," Audi India Head Balbir Singh Dhillon said. In the ongoing festive season, the automaker is expecting good growth on the back of sustained demand, he added. The automker n

Mahindra reports best-ever monthly wholesales of 64,486 vehicles in Sept

Driven by strong demand for its sports utility vehicles, Mahindra & Mahindra on Monday reported the highest ever monthly wholesales of 64,486 vehicles in September, a two-fold jump as compared with the year-ago period. The Mumbai-based auto major had dispatched total 28,112 passenger and commercial vehicles in domestic and international markets in September 2021. Last month, the company posted its highest ever monthly sales of sports utility vehicles (SUV) at 34,262 units, a two-fold jump as compared with 12,863 units in September 2021. In an interaction with PTI, Mahindra & Mahindra President (Automotive Division) Veejay Nakra said, September turned out to be a record month for the company in terms of overall volumes as well as the SUV dispatches. He noted that the overall popularity of SUVs along with robust demand for the company's latest products led to the record dispatches for the automaker last month. "Even in the thick of COVID-19, while the passenger vehicle industry .

Tata Motors clocks record domestic monthly PV sales in Sept at 47,654 units

In September 2022, PV sales increased by 85 per cent. India's third largest carmaker sold 25,730 PV units in September 2021

India is the only growth market for autos globally: S&P Global Mobility

Moody's Investors downgrades global outlook for auto to negative from stable

Chinese automaker launches Tesla-inspired electric car at just $26,000

Chinese automaker Changan Automobile has unveiled a new electric vehicle that resembles the Tesla Model 3

Nitin Gadkari asks auto makers to be quality centric, not cost centric

Amid renewed public debate over road safety after the tragic death of Cyrus Mistry, Union Road Transport and Highways minister Nitin Gadkari on Thursday asked automobile manufacturers to be quality centric and not cost centric. Speaking at the 62nd annual session of the Society of Indian Automobile Manufacturers (SIAM), he said automobile manufacturers must adopt new technology to reduce costs, provide more comfort to customers, reduce imports and increase exports. "I tell my friends in the automobile sector that you should be quality centric, not cost centric. because choices of people are changing," said Gadkari, who is known for his frank views. Former Tata Sons chairman Cyrus Mistry was killed in a road accident on September 4 after his car hit a divider in Maharashtra's Palghar district. Referring to the vehicle scrappage policy, Gadkari said transport and steel ministries will again urge the finance ministry to considering reduction in Goods and Services Tax (GST). "Yesterda

Dealers and automakers have a tumultuous relationship, says FADA President

Says manufacturers' financial clout has led to inequitable contracts between the two

Maruti to enter mid-SUV segment to lift market share: Senior exec director

Leading automobile manufacturer Maruti Suzuki will consider the SUV segment as a key area to lift its overall market share in the country, a senior company official said on Wednesday. Presently, the company's overall market share is under 45 per cent and the target is to lift it to 50 per cent. Senior Executive Director of Maruti Suzuki Shashank Srivastava told reporters here that in the non-SUV segment, the company has a market share of more than 65 per cent while in the SUV segment is not big. The company's basic objective is to lift the overall market share to 50 per cent. Srivastava said "SUV is the largest and fastest growing segment and Maruti must have a good market share in this. In the entry level SUV segment, Maruti's share is 20 per cent of the 6.6 lakh cars which is being sold annually. But Maruti does not have a car in the mid-SUV segment whose size is 5.5 lakh." The official said although Maruti is a market leader in the entry-SUV segment, it has no presence in the ..

Slowdown bites industry in Haryana; demand down 80%, 95k lose jobs: Report

From Rohtak to Bahadurgarh and Sonipat to Panipat, production at industrial units badly hit, says a media report

Ola Electric suspends production at Tamil Nadu plant citing maintenance

Ola Electric has suspended its production of electric scooters at Tamil Nadu's Krishnagiri plant for almost a week, a news report said

Auto dealers' body expects array of launches ahead of festival season

Auto dealers' body FADA said it expects automakers to launch higher number of models this festive season compared to the last two years when Covid-19 pandemic overshadowed the festive cheer. Federation of Automobile Dealers' Association (FADA) president Vinkesh Gulati had termed 2021 festive season as the "worst" in a decade in terms of business of its retail partners. In an interaction with PTI, Gulati said this time the demand is "too good", except for the non-electric two-wheeler segment which remains the "biggest stress" on the industry owing to a host of factors. "If I compare with the last two years, you will find at least double the model launch during the festive season. Moreover, we are seeing a lot of electric vehicles being launched also. So you will find a lot of launches (ahead of the festive season)," Gulati told PTI. However, most of the new vehicle launches are expected to be in the compact SUV or SUV segment, he said and emphasised that "90 per cent of the launches

Mahindra & Mahindra reveals new Scorpio-N's automatic, 4WD prices

Mahindra will open bookings on July 30 and the prices are applicable only for the first 25,000 buyers