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
In Pics: Tata Motors, Bajaj Auto and more, check out which car and bike company has raised prices
Raw material cost surge and other inflationary pressure have forced automakers to hike prices yet again which are broadly in the range of 0.5% to 3%
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
July auto sales: Car demand grows robustly after ease of COVID-19 restrictions
Domestic sales volumes of ten carmakers rose 48 percent to 278745 units in July as against 188570 units sold in the same month last year
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.
BUSINESS
Maruti Suzuki plans Rs 4,500 capex in FY22, subject to market realities
Maruti Suzuki’s sales and capex had fallen sharply in FY21 but this year, bookings for July rose 20 percent over June and company executive say the booking rate is already at 80-85 percent of the Q4FY21 peak
BUSINESS
Tesla Duty Cut Row: Venu Srinivasan, Rajiv Bajaj, RC Bhargava weigh in on EV sops
Auto industry split down the middle on issue of duty cuts on fully built foreign cars
BUSINESS
Bajaj Auto to refocus on Qute quadricycle, revive partnership with Uber
After the successful pilot project in Bengaluru in collaboration with Uber, Bajaj Auto plans to revive the initiative in the city and expand to other metros such as Hyderabad. The company expects sales of Qute, India’s first quadricycle, to commence in Q4 FY22
BUSINESS
Auto firms mull another price hike as soaring input costs erode margins
Automobile makers are under pressure as steel has risen 50 percent in nine months and other costs are also soaring, although companies had earlier expected raw material costs to soften
BUSINESS
Tata Nexon EV demand now on par with diesel variant of the SUV
The Nexon EV saw its highest quarterly sales at 1,715 units in the April-June quarter on the back of an unabated rise in prices of diesel and petrol
