Automotive Industry

ACMA joins global right to repair movement to support automotive industry

Auto component industry body ACMA on Thursday said it has joined other global associations to lend support to the global right to repair movement. The Automotive Components Manufacturers Association of India (ACMA) said it has become party to the new right to repair position statement to support the automotive aftermarket. Across the globe, consumers are facing a significant threat to their right to repair their vehicles at the auto repair shop of their choice. With vehicles increasingly becoming like cellphones, connected wirelessly at all times. These connected vehicles collect thousands of data points on the health of vehicle systems and then transmit this to the automakers obstructing access to the independent repair shops. Globally, the automotive aftermarket keeps 1.5 billion vehicles on the road while contributing USD 1.8 trillion to the global economy. After vehicles exit their warranty period, independent repair shops perform 70 per cent of the repairs. "This vibrant ind

Persistent chip, logistics woes frustrate car delivery timelines

Persistent chip and logistics woes frustrate delivery timelines. Open order books in Feb breach 700K; wait period for some models exceed a year

From automotive to telecom, here's how the Budget affects key sectors

Financial sector identified as one of the priority sector as part of "Vision Amrit Kaal

Mumbai Airport plans to deploy over 100 EVs at facility by FY24: MIAL

Adani Group-owned Mumbai Airport has said it is looking to deploy more than 100 electric vehicles at the facility by FY24 to reduce its carbon footprint and promote sustainable transportation. As part of the plan, the airport operator on Wednesday rolled out 45 EVs at the facility, Mumbai International Airport Ltd (MIAL) said in a statement. The private airport operator also said it intends to replace all its ICE-powered vehicles with EVs as part of its Operational Net Zero mission by 2029. In addition to the 45 EVs being introduced in January, the airport is also exploring the deployment of 60 more EVs in the next fiscal year, including ambulances, forward command posts, security and airside operations and maintenance utility vehicles, it said. The remaining vehicles will be replaced in a phased-wise manner, the private airport operator added. Recently, the airport commissioned 12 DC fast EV charging stations at multi-level car parking and both Terminals 1 and 2, as well as the .

GoMechanic cooked the books, say investors as 70% staff is laid off

According to people in the know, investors may now ask GoMechanic founders to take leave of absence

India among top 3 auto mkts in the world, yet faces shortage of EV buyers

Over 4 million four-wheel vehicles were sold in India last year, surpassing Japan and coming in behind China and the US

Mahindra launches new versions of its sports utility vehicle 'Thar'

Mahindra & Mahindra on Monday launched new versions of its sports utility vehicle Thar with price starting at Rs 9.99 lakh (ex-showroom). The new range includes rear wheel drive variants (without 4 wheel drive capability) in two engine options with manual and automatic transmissions, the auto major said in a statement. The two diesel-powered manual rear wheel drive trims are priced at Rs 9.99 lakh and Rs 10.99 lakh while the petrol automatic variant is tagged at Rs 13.49 lakh. The 4WD (4-wheel drive) range now comes with an advanced electronic brake locking differential, the company said. "To make our offering even better, we listened to our customers and engineered the new range of the Thar with important enhancements," Mahindra & Mahindra President, Automotive Division Veejay Nakra noted. By offering the new rear wheel drive variants, the company has made it much more accessible for probable customers, he added. "Our additions on the 4WD variant have been designed to please .

Govt finalises rules for used car market, aims to resolve host of issues

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities

Corporate India gears up to hedge China supply risk amid Covid surge

The sectors in India that import from China include pharmaceutical (pharma), automotive (auto), textile, engineering, and electronic goods

Severity of injuries worst among auto workers in Pune, shows SII report

Nearly 83 per cent incidents in Pune reported a loss of body part of the worker, as compared to 67 per cent in Haryana (Gurugram and Faridabad)

RBI rate hike may halt rally in BFSI sector, pressure on bank NIMs seen

Broader markets, especially automobile stocks, may also react negatively going ahead

Electric two-wheeler maker WardWizard's sales jump over two-fold in Nov

Electric two-wheeler maker WardWizard Innovations and Mobility on Friday said its sales surged over two-fold to 7,123 units in November this year as compared with the same month last year. The company, which sells Joy e-bike, had sold 3,290 units in November last year. Last month's sales number is the company's best-ever monthly performance till date. "With improved supply chain and consistent market expansion, we have been able to reach maximum customers, achieving another sales milestone. Our robust product portfolio and market presence have supported us to add new customers to the family," WardWizard Innovations & Mobility Chairman & Managing Director Yatin Gupte said in a statement. As customer purchasing sentiments are inclining towards electric vehicles to meet their daily mobility needs, the company is confident of carrying the same sales momentum in the coming months, he added.

Will low exports pause the rally in auto stocks?

Easing chip shortage helped auto sales touch the 1 million-mark in Q2. As demand entered a slow lane amid weak exports in October, the rally in auto shares lost its steam. Will this trend continue?

Two-wheelers rev up for mid-size battles amid rising competition

Royal Enfield has made aggressive moves in the 250-350 cc segment that it dominates, but the competition is accelerating

Ashok Leyland posts Rs 199 crore net profit in Q2, revenue up 85% YoY

The company has also achieved a market share of 32 per cent in Q2FY23

Strong SUV sales bump up M&M's Q2 net by 46% YoY to Rs 2,090 crore

Revenue during the period rose 57% to Rs 20,839 crore from Rs 13,314 crore

Mahindra & Mahindra September quarter profit up 44% at Rs 2,773 crore

Homegrown diversified group Mahindra & Mahindra on Friday reported 44 per cent increase in consolidated profit at Rs 2,773 crore for September quarter, boosted by robust sales across business verticals. The group had logged a net profit of Rs 1,929 crore in July-September last fiscal year, Mahindra & Mahindra (M&M) said in a regulatory filing. Revenue from operations during the quarter under review rose to Rs 29,870 crore from Rs 21,470 crore in the year-ago period, it added. M&M, on a standalone basis, reported revenue of Rs 20,839 crore in the second quarter, up 57 per cent from Rs 13,314 crore in the same period a year ago, the company said. Profit after tax increased 46 per cent to Rs 2,090 crore in September quarter, as compared to the year-ago period. The auto major said it sold a total of 1,74,098 vehicles in the second quarter, higher 75 per cent from 99,334 units in September quarter 2021-22. Tractor sales increased 5 per cent to 92,590 units in September ...

Pricol Ltd reports consolidated Sept quarter net profit of Rs 47.52 crore

Pricol Ltd has recorded a consolidated profit for the July-September 2022 quarter at Rs 47.52 crore, the company said on Friday. The city-based automotive technology company had registered consolidated profit at Rs 14.66 crore during corresponding quarter of previous year. For the half year ending September 30, 2022 the consolidated profit grew to Rs 68.12 crore from Rs 20.60 crore registered in same period of previous year, the company said. The consolidated total income during the quarter under review went up to Rs 516.46 crore from Rs 409.49 crore registered in same period of last year. For the six-month period ending September 30, 2022 the consolidated total income grew to Rs 962.90 crore as against Rs 729.41 crore registered in same period of last year. "Whilst the demand from the industry remains stable, the supply chain disruptions and chip shortages still continue to put a stress on our top-line and bottom-line. With our focused efforts to meet the customer demand despite

Maruti Suzuki may boost Manesar plant capacity by 100k units by April 2024

Maruti Suzuki India (MSI) may increase its Manesar plant production capacity by one lakh units to cater to the enhanced demand before its Sonipat facility commences operations in 2025, a senior company official said. The country's largest carmaker may also look at expanding production capacity at its Gurugram-based manufacturing facility to cater to the rising demand for its products. Currently, MSI has a cumulative production capacity of 15 lakh units per annum at both Manesar and Gurugram plants. It additionally has access to 7.5 lakh units from parent Suzuki Motor's facility in Gujarat. The company has already commenced work at the new facility in Kharkhoda in Haryana. The plant is expected to be operational by 2025 with an installed production capacity of 2.5 lakh units in the first phase. "As of now, we have about 22.5 lakh capacity in Haryana plus Gujarat...And in times to come, we are in process of working on the Kharkhoda plant, which will be up and running in the year ...

Maruti Suzuki's Q2 suggests a big bounce for auto sector stocks

Revenue and net profit both were ahead of consensus estimates