BUSINESS
It’s been 10 years without profits; time we changed that: Renault India MD
Under its five-year ‘Renaulution’ programme, the French carmakerwill scale up its brand image globally, and shift focus to larger, more premium (C and D segment) and fully electric cars that will bring in better margins. The French carmaker hopes to make all local units profitable by 2023 with India also being part of this plan.
BUSINESS
Tata Motors looks for partner to help synchronize Jaguar’s electric shift
The mismatch in product offerings and below par customer satisfaction levels has impacted the British global vehicle brand, leading to low volumes
BUSINESS
TVS Motor Company lines up capex of Rs 500 crore for FY22
The Chennai-headquartered two-wheeler maker has lined up several new products and a range of electric vehicles for launch next year as it looks to keep the good momentum for its products going
BUSINESS
India rolls red carpet to Elon Musk for a Tesla factory, but what can it offer?
Govt is promising lower costs. One analyst says since India’s EV market is very small, Tesla will have to heavily depend on exports. This is possible only if incentives are aimed to drive up exports. Gadkari’s hospitality comes at a time when Chinese regulators are questioning Tesla on many issues.
BUSINESS
No subsidy: Will Delhi government’s action hit Tata Nexon sales?
The subsidy would have brought down the on-road price of the SUV by around Rs 3 lakh. The other two electric SUVs in the country – the MG ZS EV and Hyundai Kona – don’t enjoy any subsidy in the state as they are priced above Rs 20 lakh.
BUSINESS
Bharat Forge identifies two new ‘growth drivers’ for the next five years
Senior executives of the company said the company plans to build components for electric vehicles and make lightweight, primary parts that go into making the shells of vehicles. To this end, Bharat Forge has even set up an engineering and solutions centre for lightweight parts in North America.
BUSINESS
This week in Auto: 7-seater SUVs catch people’s fancy; GM India warns workers; Osamu Suzuki announces retirement and more
Here is a complete wrap of all the top stories of the week
BUSINESS
Exclusive | We’ll have a double-digit market share in FY22, says Shailesh Chandra, Tata Motors’ passenger vehicles czar
Tata Motors, once a laggard in the auto industry when it came to car sales within India, is suddenly firing on all cylinders. In just ten months, and with just five models, it has managed to script a surge in turnover, with Nexon sales doubling to 8,200 units a month. We look under the bonnet to find out what changed at the carmaker in such a short time
BUSINESS
Auto industry seeks Govt's support to set up semiconductor production in India
Government’s support is needed since investments required for localisation of semiconductor is large and the beneficiaries include companies from the non-auto sectors also
BUSINESS
Osamu Suzuki: The Number 1 carmaker for India decides to retire at 91
When Maruti was scouting for a partner in the 80s, the Indian govt was not in favour of Suzuki. The Japanese firm eventually won the deal, and Osamu Suzuki made Maruti Suzuki a household name in India. The Indian operations later even surpassed sales in the company’s home market.
BUSINESS
Suzuki targets over 50% passenger car market share in five years
Suzuki Motor Corporation, as part of its mid-term management plan lasting five years beginning April 2021, also plans to launch hybrid and electric vehicles, boost its presence in the SUV segment, and add several mini showrooms in the rural pockets of India.
BUSINESS
Holiday hotels see rise in occupancy levels, but industry not cheering
Many hotels renting rooms below standard rates cites as main reason. Hotels say leisure destinations, not metros, are the main revenue-earners now. In fact, hotels lobby body FHRAI says occupancies and room rates, pan-India, are still low.
BUSINESS
General Motors union rejects ultimatum to accept severance packages, meet Maharashtra labour minister
General Motors India had told employees in a letter dated February 19 that they have time till February 23 to either accept the voluntary separation package or face a lawsuit
BUSINESS
Explainer: What has gone wrong at General Motors India plant?
General Motors has sent a letter to its employees asking them to accept the voluntary separation package issued by it or be ready to face a lawsuit.
BUSINESS
This week in Auto: Hyundai's silver jubilee in India; Renault Kiger launch; Hero MotoCorp capex plans; and more
Here is a wrap of all the important news in the automotive space this last week
BUSINESS
Maruti’s switchover to Rupee-based royalty pay to Suzuki running 2 years late
Maruti does not provide reasons for the delay. Royalty payment is computed every quarter by MSIL and shared publicly. Rupee-denominated payment formula was envisaged to escape the adverse risk of the yen-rupee fluctuations.
BUSINESS
Long wait beyond 1-2 months forcing auto dealers to reject customer bookings
Be it Maruti, Tata, Hyundai or Nissan, carmakers are not able to meet demand because production lines are either running at full capacities or they are facing a semiconductor shortage. Dealers are facing unusually low inventory levels and the waiting period for some models are stretching up to six months.
BUSINESS
Hero MotoCorp raises capex for FY22 to up to Rs 1,000 crore
Move follows better-than-expected recovery in demand in recent months. From an average 2.61 lakh units per month during April-July, Hero MotoCorp sales touched 5.91 lakh units a month in the September-January period. Company ready to make provisions for more spends if demanded by the market.
BUSINESS
Marc Llistosella: The kickboxer from Germany who has boarded a Tata bus
He takes over as CEO and Managing Director of Tata Motors from July 1. In his new role, the company’s commercial vehicle division will need most of his attention. His success at Daimler India and the establishment of the Bharat Benz brand are among his achievements.
BUSINESS
This week in Auto: Scrappage policy in Budget; semiconductors a pain point; Hero Moto’s Harley-Davidson plan, and more
Here is a quick look at what made headlines in the auto sector last week
BUSINESS
Hero aims to benefit from Harley brand image, joint product development on track
Earlier this week both companies announced the setting up of a new business unit that would be tasked to sell Harley-Davidson bikes in India through a network of 11 dealers.
BUSINESS
Demand boom: Carmakers have a problem that they aren't losing sleep over
Decadal low auto loan rates, attractive finance options and robust demand from non-urban pockets have helped affect a spectacular turnaround in market sentiments
BUSINESS
Bajaj Auto to enter electric three-wheelers in FY22, working on electric Qute too
The COVID-19 pandemic became the biggest reason for the delay in its launch, but things are looking up with the reopening of schools, offices and commercial spaces like shops and malls
BUSINESS
Budget 2021: Pawan Goenka says investment cycle is about to begin
New investments in the auto sector could flow in for setting up new factories as well as for resumption of new product launches that got severely disrupted because of the COVID-19 pandemic
