Luxury car sales in India scaled a record high of 42,731 units in 2023, up 20% year-on-year. Carmakers attributed the pickup in sales to a lifestyle change after Covid-19, making many younger professionals opt for high-end cars, and said the trend is expected to continue, citing rising disposable income levels. The growth potential of this […]
Automobile shipments from India declined 21% last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5% to 6,77,956 units last year from 6,44,842 units in 2022. However, […]
Automobile shipments from India declined 21 per cent last year as many overseas markets continued to face monetary and geopolitical crises, as per the latest SIAM data. Overall exports stood at 42,85,809 units last year compared to 52,04,966 units in 2022. Passenger vehicle shipments rose 5 per cent to 6,77,956 units last year from 6,44,842 […]
Hyundai unveils the ioniq-5-based ‘MOBION’ electric vehicle (EV) with ‘crab walking’ capabilities at the ongoing CES 2024. This prototype vehicle comes equipped with advanced ‘e-Corner System’ motion technology, allowing for lateral and diagonal movement, as well as pivots on spot. Hyundai claims that this ‘crab-walking’ capability might solve challenges with parallel parking.
British luxury carmaker McLaren Automotive on Friday said it is expecting the super sports car segment in India to register 30 per cent growth this year. McLaren is also looking to deliver about 20-odd cars to customers in India after witnessing a blip last year owing to supply chain issues. Earlier the company, which entered […]
India’s passenger vehicle sales surged past 4 million units for the first-time ever in calendar year 2023 buoyed by rising disposable incomes, an influx of new sport-utility vehicles, and attractive loan rates. More than 4.1 million cars, sedans and utility vehicles were sold in the domestic market last year, an 8.2% increase from the 3.79 […]
Kia Motors has revealed the prices for the highly anticipated facelifted Sonet compact SUV in India. The model is available at an introductory price starting from Rs 7.99 lakh for the base variant and going up to Rs 15.69 lakh for the top-of-the-line X-Line trim. The updated Sonet offers a total of 19 variants to […]
Biogas is the most viable fuel for small cars in India given the abundant availability of the bio waste in the country, RC Bhargava, chairman, Maruti Suzuki India, said. According to him, battery-powered vehicles at present have many limitations for users of small cars, including price and charging facilities, and are more suitable for those […]
Maruti Suzuki India Chairman RC Bhargava on Wednesday said the company is in discussion with the Gujarat government to get the appropriate land parcel for its second plant to be set up at an investment of Rs 35,000 crore. The country’s largest carmaker plans to produce 10 lakh units annually at the new plant as […]
Gandhinagar: Car market leader Maruti Suzuki India will invest a cumulative ₹38,200 crore in Gujarat as part of a broader plan to double the output to 4 million units by FY31. In his address, T Suzuki, representative director and president of Suzuki Motor Corp, said: “Compared to 10 years ago, we expect 1.7 times in […]
Kicking off the Vibrant Gujarat Summit, Japanese carmaker Suzuki Motors announced its intent to invest Rs 3,200 crore in a new production line in the existing Gujarat plant and Rs 35,000 crore towards a second plant in the state. Suzuki Motors’ President Toshihiro Suzuki said that the company will roll out the first electric vehicle […]
French carmaker Renault said it will continue to sell small cars in the Indian market as long as regulations permit, despite dwindling share of the segment in overall passenger vehicle sales citing revival of demand among consumers at the entry level. Renault India Operations Country CEO & Managing Director Venkatram Mamillapalle said, “It is true […]
As per industry sources, Ford aims to revive sales by bringing back the Endeavour, contemplating both local assembly in Chennai and direct imports. The company could import fully-built cars without homologation, staying competitive against rivals like the Toyota Fortuner while gearing up for local production in 2025.Ford’s Plant DilemmaHaving retained its Chennai factory despite earlier […]
The National Company Law Appellate Tribunal (NCLAT) on Friday dismissed Kesoram Industries’ appeal against the National Company Law Tribunal’s Kolkata ruling that had rejected its claim of being a financial creditor of Birla Tyres Ltd. The appellate tribunal held that Kesoram had failed to prove that the transaction was a deposit of money or a […]
Swedish car maker Volvo Cars on Friday said its total car sales in India witnessed a 31 per cent yearly jump at 2,423 units in calendar year 2023, driven by the XC60 model. Volvo Car India had retailed 1,851 cars in the domestic market in 2022 calendar year, the company said in a statement. The […]
How this Chinese EV maker pipped Elon Musk’s Tesla in sales
New Delhi: In a record year for car sales, only four companies – Hyundai, Tata Motors, Mahindra & Mahindra and Toyota – hit new highs, amid weak demand at the lower end of the market. Market leader Maruti Suzuki got to 1.71 million units, but that was still short of its pre-Covid record of 1.73 […]
New Delhi, Maruti Suzuki India on Wednesday said the Gujarat GST authority has upheld the tax demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore against its arm Suzuki Motor Gujarat Pvt Ltd and the subsidiary company will move the first appellate authority to challenge the order. The country’s largest passenger […]
Korean auto major Kia Tuesday announced the appointment of Gwanggu Lee as the new Managing Director and CEO of its India operations with immediate effect. Lee succeeds will Tae Jin Park, who is retiring after a 36-year journey with Kia Corporation and 4 years with Kia India. With over 30 years of experience in the […]
Mumbai: Two-wheeler maker Suzuki Motorcycle India on Tuesday said its vehicle sales increased 24 per cent year-on-year to 79,483 units in December. Suzuki Motorcycle India Pvt Ltd (SMIPL), a subsidiary of Suzuki Motor Corporation, had sold 63,912 vehicles in December, as per a company statement. “The company closed December 2023 with total sales of 79,483 […]
New Delhi: Sales of cars and utility vehicles posted strong growth last month, helping the 2023 volume to top 4 million units a year for the first time. As per industry estimates, about 4.1 million passenger vehicles were sold in the local market in the last calendar year, an increase of around 8.2% compared with […]
The centre has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by a year. A statement from the Ministry of Heavy Industries (MHI) said this decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). These amendments aim to provide clarity and flexibility to the scheme. […]
The growth of the automobile industry, which in normal times closely tracks the growth of the GDP, was adversely affected in 2019-20 by the switch to BS6 standards, then by the Covid pandemic and finally by the shortages of semi-conductors. It was in 2022-23 that the industry could finally cross the volume of sales reached […]
Mumbai: MG Motor India, the SAIC-owned British brand, plans to launch seven new models in the Indian market over the next couple of years, the company told a group of dealers invited to its headquarters in Shanghai within days of stitching a joint venture with the Sajjan Jindal-owned JSW Group. A spokesperson at MG Motor […]
Mahindra & Mahindra on Friday said it has been imposed a penalty of Rs 4.12 crore over input tax credit claim and education cess credit balance carry forward from pre-GST regime to GST regime in relation to its two-wheeler business. In a regulatory filing, Mahindra & Mahindra said it has received an order from the […]
Chennai: Hyundai Motor India has roped in popular Bollywood actress Deepika Padukone as its brand ambassador, the Korean automaker said on Friday. Her association adds a touch of star power, emphasising Hyundai’s commitment to style, performance and an unparalleled driving experience, the company said in a statement. “We are thrilled to onboard the incredibly talented, […]
Tata Motors on Wednesday said its SUVs Safari and Harrier have become the first recipients of the five-star rating for adult and child occupant protection as per the Bharat New Car Assessment Programme (Bharat-NCAP). Earlier in August this year, the government had launched the Bharat-NCAP, India’s very own and independent safety performance evaluation protocol for […]
Prominent electric vehicle maker Tesla’s plans to set up a plant in India will be made public in January during the Vibrant Gujarat Summit in the presence of its CEO Elon Musk, a report said on Thursday. The Ahmedabad Mirror reported that Gujarat fits in well with Tesla’s export-oriented approach which will cater to both […]
The centre will curb the import of substandard car and bike wheels come Friday as it implements the quality control order for automobile rims. The move comes with riders as some manufacturers are being allowed to import limited quantities of non-Bureau of Indian Standards (BIS) compliant wheel rims after the latest amendment to the quality […]
Toyota Kirloskar Motor on Wednesday said it expects to continue the strong momentum next year after closing 2023 with record sales as rising demand from tier II and III markets is slated to fuel further growth. The company is set for a record year in terms of sales in 2023. It has already clocked a […]
Mumbai: More than two dozen new car models will be unveiled or go on sale in 2024 as automakers ride on the momentum of the past two years and launch new battery-run vehicles as part of the transition to electric. This will be the highest number of new model introductions in the non-luxury segment in […]
Automaker giant Tata Motors on Tuesday announced that it has bagged an order to supply 1,350 units of diesel bus chassis from the Uttar Pradesh State Road Transport Corporation. The order is for the company’s Tata LPO 1618 diesel bus chassis that has been developed for intercity and long-distance travel, the company said in a […]
Indians’ love for larger, feature-rich vehicles, coupled with a concerted push to deepen local content, is turning into a boon for auto parts makers with domestic component sales rising 6.5%, on a high base, to a whopping $36.1 billion in the first half of this financial year. The shift in consumer preference is driving up […]
Passenger vehicle (PV) makers are estimated to have taken a sharp correction in dispatches to dealers in December, indicating that sales in Asia’s third largest auto market are beginning to lose steam. Easing of demand post festivals that had pushed up inventory coupled with last year’s high base impact nudged automakers to cut dispatches. December […]
After posting record-breaking volumes in 2023, Indian automobile industry is driving into the new year aware of a lurking moderation in sales growth but ready to embrace green technologies, led by electric vehicles. Passenger vehicle sales are expected to cross 40 lakh units this year and prices are set to rise from January. Veteran industry […]
In a remarkable feat, India’s largest carmaker Maruti Suzuki has swiftly emerged as the leading SUV manufacturer, surpassing its initial goal set in 2022. With an ambitious plan to capture the numero uno spot in the SUV market by the end of FY 2023-2024, Maruti Suzuki not only met but exceeded expectations, doubling its overall […]
Maruti Suzuki India (MSI) on Friday said it has inked a pact with the Haryana government to set up second Japan-India Institute for Manufacturing (JIM) in the state. The new institute would come up at Kansala in Rohtak, Haryana and will be operational next year. Spread over five acres, the existing ITI Kansala will be […]
Commercial vehicle major Ashok Leyland on Thursday said it has bagged an order to supply 552 buses from Tamil Nadu State Transport Corporation (TNSTC). The ultra-low entry (ULE) buses would be used for public transport, the company said in a statement. Ashok Leyland has been a long-standing supplier of buses to TNSTC, having supplied over […]
Mumbai: Strong growth in the construction equipment and mining segments will be “a shot in the arm” for the tyre industry, in addition to continuing firm demand in the passenger vehicle market, JK Tyre & Industries chairman and managing director Raghupati Raj Singhania said. All the three segments — construction and mining where the vehicles […]
Tata Motors, India’s third-largest passenger vehicle maker, expects next year – both calendar and fiscal – to be the best on record in terms of sales volume for the company’s passenger vehicles business, driven by the new models it plans to launch with electrical and conventional powertrains. In addition to launching the electrified versions of […]
Five Indian companies featured among the top 30 tyre manufacturers globally, according to a report by Automotive Tyre Manufacturers’ Association (ATMA). In the ‘Tire Business Magazine’s 38th Global Tire Report’ by ATMA based on revenue in 2022, Apollo, MRF, JK Tyre, CEAT, and Balkrishna Industries (BKT) from India featured in the top 30 list. As […]
Ford Motor Co. unexpectedly abandoned plans to sell its Tamil Nadu plant, its sole remaining factory site in the country, after finalising a deal with the Sajjan Jindal-led JSW Group recently, said people with knowledge of the matter. The decision fuelled speculation that the US company may be considering a re-entry into the world’s third […]
The Union Minister for Road Transport and Highways in India, Nitin Gadkari, has once more expressed his reservations about the idea of driverless cars in the country. He has consistently held this stance, emphasizing that he won’t permit these vehicles in India. Gadkari’s primary argument against driverless cars stems from the potential job losses they […]
2024 is going to be a significant year for Maruti Suzuki in India as they have a series of new launches planned. Among them is the much-awaited next-gen Swift, which was recently introduced in Japan and will soon make its way to Indian roads. Additionally, Maruti Suzuki will also be unveiling the highly anticipated eVX […]
Ahmedabad: Gujarat’s automobile sector took off in 2009 when Tata Motors set up its Nano manufacturing plant in Sanand, about 50 km from Ahmedabad, and the state has been attracting some big ticket investments from both domestic and international players since then. Now, with the global shift tending towards electric mobility, the Gujarat government seeks […]