BUSINESS
RC Bhargava of Maruti, TVS’ Venu Srinivasan face off with govt on auto GST rate
Maruti Chairman RC Bhargava says green mobility will not take off unless question of affordability is addressed. TVS Motor Chairman Venu Srinivasan says two-wheelers being taxed at the same level as luxury cars. Industry asks govt to reconsider higher taxation.
BUSINESS
Volkswagen production ramp-up hinges on chip availability
The company is counting on allocation of semiconductors from its German parent to operate the plant near Pune 24x7 by November
BUSINESS
With occupancy rising, luxury hotel room rates are back at 2019 levels
With more people holidaying, occupancy has risen to 55-60% across destinations from around 25-30% a few months ago. Higher occupancy drives a gradual uptick in room revenue
BUSINESS
Exclusive | Maruti Suzuki developing self-charging hybrid cars with Toyota
Inadequate charging facilities have been a major roadblock for adoption of electric vehicles, and Maruti is going for hybrid cars until the infrastructure improves
BUSINESS
Surge in travel and stay as vaccination drive picks up sparks optimism for hoteliers
Leisure travel has been on the rise since June as Covid-19 restrictions were eased in various states. Business travel is expected to pick up in September-October
BUSINESS
Honda Motorcycle and Scooter India anxious over electric vehicle mania
HMSI, which is the country’s second largest two-wheeler maker with popular products under brands such as Activa, Shine and Unicorn, has not announced any EV plans thus far, prompting Honda’s dealers to raise questions
BUSINESS
Shifting gears to electric vehicle: A look at India’s key milestones and road ahead
From just a couple of products across segments five years ago, the electric vehicles bouquet in India has grown to more than 50 models now. Here’s a look at where brands are standing today
BUSINESS
Bharat Forge to enter electric vehicle space with 2-wheelers and 3-wheelers
Associate company Tork Motors has developed an electric motorcycle while most others including Ola Electric, Ather Energy, Okinawa, Ampere Vehicles and Hero Electric have electric scooters in their portfolio
BUSINESS
Nair family lose managerial control of Hotel Leela
This is the first time since the formation of the company in 1986 that none of the Nair family members, who are part of the company’s board, are holding a managerial position at the same time
BUSINESS
Don’t call our SUVs entry-level, please: Mahindra after XUV700 launch
M&M attempting to redefine position in core SUV segment. Company wants customers to choose it for its authentic SUV feel, over much else. For this, M&M is shedding its image of an entry-level brand and is focusing on making it a premium offering
BUSINESS
Mahindra & Mahindra accelerates electric two-wheeler run in Europe
The initiative is part of the Rs 3,000 crore, multi-segment, electric vehicle push being made by the Mumbai-based utility vehicle specialist.
BUSINESS
Eicher Motors lines up Rs 500 crore capex for FY22 but warns of chip shortages
Though it has a strong order book, Eicher's Royal Enfield division will not be able to deliver bikes in time for the festive season because of the semiconductor shortage. Other automakers, including Mahindra & Mahindra, Renault, Nissan, Ford and a third-party manufacturer for Maruti Suzuki, have also been forced to cut production due to the chip shortage.
BUSINESS
Scrappage policy for personal cars from 2024, heavy trucks from 2023
The government needs more time to set up vehicle testing facilities and scrapyards before private cars can become eligible for incentives.
BUSINESS
M&M’s departure from ‘no frills’ strategy in personal EV dents its market share in upcoming e-mobility space
M&M is without a regular electric passenger car as its sole EV, the eVerito, is produced only against confirmed orders, with the last one being produced in December 2020. But the company has lined up a plan to unveil a full-fledged EV portfolio in 3-5 years. The only EV space it has a serious presence in is commercial vehicles, where Mahindra is the leader with its three-wheelers
BUSINESS
Govt-backed CESL to launch online marketplace for electric two-wheelers
The state-run company wants to be the electronic supermarket for electric two-wheelers, which it will buy in bulk from manufacturers and offer them for sale or leasing to customers
BUSINESS
Want to make M&M No. 1 in core SUV segment: Anand Mahindra
From being the leader, the Mumbai-based company saw a freefall in market share with the renewed entry of Hyundai, Maruti Suzuki, Tata Motors, and Kia
BUSINESS
Waiting period to get longer, margins to come under pressure: Mahindra & Mahindra
The festive days which begin with Onam in Kerala and Ganesh Chaturthi in Maharashtra, Goa, Karnataka and Gujarat typically generate more than 40 percent of passenger vehicle demand for a year.
BUSINESS
Bike makers roll out offers to entice buyers amid demand slowdown
The offers are aimed at reviving demand weeks ahead of the festive season even as inventories with dealers are climbing to unsettling levels.
BUSINESS
Used cars demand surges amid COVID scare
The demand for used cars has risen so much that there is a supply crunch in major markets such as Maharashtra, Karnataka and Delhi-NCR.
BUSINESS
Hotels cut back on staff, redeploy manpower to cut costs
Luxury properties under the Oberoi, Trident, Taj, SeleQtions, Vivanta, JW Marriott, Renaissance and The Westin banners have rationalised staff strength amid the challenging business environment.
BUSINESS
Honda Cars India hikes prices of City, Amaze and others by Rs 16,000
While the petrol variants of Amaze, Jazz, WR-V and City saw an increase of Rs 9,000 to Rs 16,000 some diesel versions saw a steeper hike
BUSINESS
TVS Motor increases FY22 capex 33% in boost for electric vehicles
TVS Motor Company plans to spend an additional Rs 200 crore this year to increase its EV production capacity and introduce new products
BUSINESS
Tata Motors to look at fund raising for EV business, charts 25% sales from battery-powered cars
The Mumbai-based company will launch one or two electric vehicles every year to have a portfolio of 10 such vehicles before 2025.
BUSINESS
Remain committed to zero debt target by FY24: Tata Motors Chairman N Chandrasekaran at AGM
Though Tata Motors managed to reduce its net automotive debt at the consolidated level in FY21, the same ballooned up to Rs 61,300 crore by end of Q1FY22.
