Page 6 - Automobile

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, ...

Can Bhavish Aggarwal's ambitious plans for Ola Electric challenge Musk?

Whether Ola Electric succeeds or not, Aggarwal's admirers seem to agree that he has turbo-charged the EV market, pulling in millions of investment dollars

Toyota marks turnaround in India, reports highest profit in four years

The company has worked towards meeting the mobility needs of consumers

Bajaj Auto Q2 preview: Ebitda may rise up to 34% YoY, margins seen flat

Bajaj Auto Q2: Brokerages tracking the company expect it to report a double digit sequential growth in net profit on the back of healthy volume-based sales during the quarter

Jubilant Food, Bata: Consumption stocks get leg up amid festive boost

Nine-day Navratri festival saw retailers witness the highest footfalls in two-three years across segments such as automobiles, consumer appliances, and apparels

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

After initial frenzy, electric two-wheeler market consolidating

Just 7 companies accounted for 86% of all electric two-wheeler registrations in September

Kia recalls 44,174 units of Carens to inspect error in airbag software

Kia India on Tuesday said it is recalling 44,174 units of its latest model 'Carens' to inspect and fix any potential error in air bag control module software. As a responsible corporate, the company has decided to voluntarily recall the vehicles for inspection and if required, a software update will be provided free of cost, the automaker said in a statement. The voluntary recall campaign is being undertaken to inspect any potential error in air bag control module software in the Carens, it added. The company said it will directly reach out to the owners of the concerned vehicles to update them about this voluntary recall campaign. Customers of the affected vehicles would be required to get in touch with their respective Kia authorised dealers to schedule an appointment. Kia India had launched the model, which comes with six and seven seating options, in February this year. The Carens comes powered by a 1.5 petrol, 1.4 litre petrol, and 1.5 diesel powertrains mated with three ...

Two-wheeler sales in India rise 9% YoY, still below pre-pandemic levels

Honda emerged as the top two-wheeler seller in India in September, followed by Hero and TVS Motor. Ola Electric was the top EV seller

Tesla delivers 343,000 cars in third quarter, says lower than expected

The US electric automaker Tesla on Sunday (local time) announced the delivery and production numbers for the third quarter, stating that it is lower than expected, according to media reports

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

Is it the beginning of the end of diesel cars in India?

The price gap between petrol and diesel has been narrowing. And BS VI emission norms dealt another blow to the sales of diesel vehicles. So, what is the road ahead for diesel cars in India?

Automakers may seek time to install seat belt reminders for rear seats

The reason why the feature cannot be immediately implemented is that the three-point point seat belts are required to be anchored to a structural support, explained an official at a car company

Why are electric vehicles still so expensive? Blame the manufacturers

EVs are built with fewer parts than regular cars, and they're often sourced from other companies

Govt working on PLI schemes for more products to boost manufacturing: Goyal

The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others

Trade-off in safety norms: EV makers say Oct 1 deadline impossible to meet

Industry players are worried that any fresh accidents may lead to more investigations that would penalise the entire industry instead of errant manufacturers

Ola does a u-turn: Plans more experience centres to take count to 200

At present the company has 20 experience centres; move is in contrast to company's earlier gameplan to disrupt traditional auto distribution channels by selling directly to customers

Honda Cars eyes comeback with a slew of new SUVs across multiple segments

Firm kick-starts feasibility study on a pure electric model

Restructuring at Ola group likely to take away 200 engineering jobs

Aim is to minimize redundancy and centralise operations, says company

Mercedes Benz to roll out EQS 580 from Sept 30; here's what to expect

EQS 580 will be offered with a dual-motor set-up, one on each axle. It develops 516 bhp and 856 Nm of peak torque and is paired with a 4Matic all-wheel-drive system.