Automobile News

Billionaire Elon Musk's Tesla is recalling some 2021-2024 Model 3, Model S, Model X, and 2020-2024 Model Y vehicles because the hood latch assembly may fail to detect an unlatched hood after it has been opened

We are going ahead with our EV investments in a phased manner: Amara Raja Executive director

The Hyderabad-based firm will begin the first phase of the 5 GWh battery pack assembly unit in the near term, says Harshavardhana Gourineni.

Tata Motors in legal clash with EPFO over pension fund transfer: Report

Government sources indicate that while the EPFO is willing to facilitate the transfer of the provident fund corpus, it is specifically requesting detailed information regarding the pension scheme.

Mitsubishi Motors joins Honda-Nissan alliance amidst major auto industry shift: Report

The driving force behind this alliance is the urgent need to adapt to a rapidly changing auto industry, marked by the shift from internal combustion engines to EVs.

The Ride Report: Royal Enfield Guerrilla 450

Royal Enfield’s all-new, sporty roadster is dripping with character, street presence and contemporary tech, ushering-in a new era for Royal Enfield.

Hero Motocorp attributes a loss of Rs 390 crore in investee company Ather Energy

In FY24, Ather reported a consolidated revenue of Rs 1,789 crore as against Rs 1,773 crores in FY23. The firm's losses widened to Rs 1,059 crore in FY24, up nearly 22.5 percent year-on-year (YoY)

In Budget 2024, catalysts introduced to augment growth for auto sector

India's auto sector has received a major boost from the government's recent policies which focus on encouraging local manufacturing and lessening regulatory constraints

Hero Moto's appeal upheld, tax tribunal sets aside Rs 2,337 crore tax demand

The ITAT verdict upholds Hero Moto's appeal against the reassessment order and rules it invalid, rejecting the tax addition.

Indian auto component industry logs 9.8% growth in topline at $74.1 bn in FY24, EVs’ share rises to 6%

Component supply to OEMs in the domestic market increased by 8.9 percent to $62.4 billion (Rs.5.18 lakh crore), with supply to the EV manufacturing industry accounting for 6 percent of the total component production in the country

Ashok Leyland's Q1 net profit declines 9% to Rs 526 crore

The net profit for the quarter under review has declined significantly from the March quarter profit, which came in at Rs 900.41 crore.

BMW India has no immediate plans to build EVs locally, banks on subsidies to perk up numbers

BMW Group India revealed that 397 units of fully electric BMW and MINI cars were sold in the first six months of this year

BMW launches new 5 Series sedan, Mini Countryman electric SUV in India

It may be recalled that MINI had started accepting pre-bookings for the new-generation Countryman E electric SUV.

Porsche India retail sales grow 40% in Jan-June period

The company saw robust sales of Cayenne and Macan models during the period under review, the luxury sports carmaker said in a statement

Nissan looks to rev up India ops; lines up product launches over next 30 months

The company, which is selling just one model in the country currently, is planning to drive in two mid-size SUV models (one five-seater and one seven-seater), one electric SUV and a refreshed version of its compact SUV Magnite

Ola Electric's $740 mn IPO likely in August, targeting $4-4.25 billion valuation

The proposed listing, first ever by an Indian EV two-wheeler maker, would be a landmark moment for India's auto sector and may encourage value unlocking among peers.

Budget 2024: FM leaves out direct doles for auto sector; duty cut on critical minerals to help EVs

Industry stakeholders reckon that improved infrastructure is a boon for the auto sector, facilitating better logistics and enhancing the overall consumer experience.

Electric Mobility Promotion Scheme to support up to 3.72 lakh EVs: Govt

Electric Mobility Promotion Scheme (EMPS) 2024 will provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country

The Drive Report: 2024 Nissan X-Trail

The CVT is quick and decisive, mimicking the mannerisms of a regular torque converter rather effectively. This is a truly impressive engine

Customs duty waiver on critical minerals like lithium, cobalt for EV battery

Industry players reckon that the move by the Finance Minister is pivotal and will substantially lower the production costs of battery cells, directly translating into more affordable electric vehicles (EVs) for consumers

Auto sector looks for big bang reforms to sustain its growth momentum and propel country’s economy

Auto sector looks for big bang reforms to sustain its growth momentum and propel country’s economy

EV Industry looks for tax rationalisation, sops and subsidies to power up its volumes

While many of them anticipate targeted incentives like FAME 3.0, some are looking for more support for local battery production and innovation, which are critical for the sustainability and cost-effectiveness of EV

Vehicle sales in rural areas recovered since pandemic, says Economic Survey

Citing the FADA data, the latest survey revealed that close to 40 percent of Passenger Vehicle retails were in the countryside at 14,73,403 units

Economic Survey 2024: Auto PLI schemes attract Rs 67k-crore investment, FAME-II and ACC battery storage policy to boost industry

The automobile industry was helped by multiple government schemes in the fiscal year 2024 (FY24) during which the country produced around 49-lakh passenger vehicles, 9.9-lakh three-wheelers, 214.7-lakh two-wheelers, and 10.7-lakh commercial vehicles; the survey pointed out.

Hero MotoCorp plans to roll out affordable EVs this fiscal

The country's largest two-wheeler maker is also hopeful of the debut of its electric range in the international markets.

Mahindra to unveil 5-door version of popular Thar SUV on August 15, to be called...

The Thar Roxx will be offered with the same set of engines as the standard model, which include a 2.0-litre turbo-petrol and a 2.2-litre diesel engine paired with, either a 6-speed manual or a 6-speed automatic transmission

Budget 2024: Auto sector foresee key policy measures to drive growth, innovation and sustainability

Auto sector is keen on the government’s long-term roadmap on EV adoption, promoting domestic value addition, supply chain challenges, R&D, infrastructure development, etc

Tata Motors unveils SUV Coupe Curvv in ICE and EV variants, launch next month

The car is being positioned for the aspirational mid-SUV category, aimed at families, and offers the practicality of an SUV with in a coupe design, Tata Motors added.

CEAT Q1 net profit rises 7% to Rs 154 crore

The homegrown tyremaker’s total expenses were higher at Rs 3,003.56 crore as compared to Rs 2,739.14 crore in the corresponding quarter a year ago

Current GST rate for PVs outdated; needs a relook: JSW MG Motor India CEO Emeritus

The government should consider the overall perspective of vehicular emissions, reduction of import bill, sustainable local supply chain and total cost of ownership while formulating policies on the auto sector, he added

TVS Motor-owned Norton Motorcycles plans 6 new products, earmarks 200 mn pounds for product development

Norton announces plans for increased sales through sales partners in USA, Germany, France, Italy and India

Citroen bags order for 500 e-C3 units from Refex Green Mobility

The French carmaker has inked a memorandum of understanding (MoU) with Refex Green Mobility for the same, it said in a statement

Royal Enfield launches premium roadster Guerrilla 450 starting at Rs 2.39 lakh

The new model will be available in three variants – Analogue (at Rs 2.39 lakh), Dash (Rs 2.49 lakh) and Flash (2.54 lakh)-all ex-showroom-and will be offered in five colour option

Expect domestic two-wheeler sales to reach peak levels of FY19 latest by Q1 FY26: Bajaj Auto

Our expectation is that the two-wheeler market should grow around 6-8 per cent this year,” Bajaj Auto Executive Director Rakesh Sharma told reporters

Bajaj Auto Q1 results beat estimates as net profit soars 18% on-year to Rs 1,988 crore; shares gain

Bajaj Auto Q1 FY25 results exceeded analysts’ expectations, aided by better product mix, higher selling prices, and robust sales.

UP govt extends EV subsidy policy till 2027; Rs 5,000 for 2-wheelers, Rs 1 lakh for 4-wheelers

The government has kept aside Rs 100 crore for two-wheelers with a target of subsidizing 200,000 vehicles, while for 4-wheelers it has a budget of Rs 250 crore

Automobile exports rise by 15.5% in June quarter

Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.

Mercedes-Benz likely to explore increased EV assembly in India to meet sustainability goals: Report

When asked about future EV models for local assembly in India, Iyer hinted at upcoming surprises similar to the EQS, suggesting a potential expansion of Mercedes-Benz's localized EV lineup in the near future.

Vietnam's VinFast delays US electric car plant amid market slowdown

VinFast, founded by Vietnam's richest man Pham Nhat Vuong in 2017 and which turned to making fully electric vehicles in 2022, said it would now deliver 80,000 vehicles this year, down from the initially planned 100,000.

South Korea's SK On in talks to supply prismatic EV batteries as it seeks turnaround

SK On, a unit of energy group SK Innovation, which supplies EV batteries to Ford Motor, Hyundai Motor, Volkswagen among others, is speaking to multiple automakers that are looking to line up prismatic battery supply deals, SK On chief spokesperson Ko Chang-Kook said.

Carmakers will take corrective action to cut inventory levels at their dealers: SIAM

FADA had earlier retail body stated that PV inventories have reached levels of 65-67 days of sales.

FADA seeks vehicle depreciation benefits for income tax payers

In its pre-budget wishlist, the Federation of Automobile Dealers Associations (FADA) also asked the finance ministry to reduce corporate tax for LLPs, proprietary, and partnership firms.

The Drive Report: 2024 Range Rover Evoque

Can token visual upgrades elevate the baby Range Rover’s design to best-in-class levels?

Automobile sales continue to move upwards, jump 16.4% to 6.4 mn units in Q1: SIAM

Total automobile sales include 10,26,000 units of PVs, up by 3 percent from 9,96,565 units in Q1 FY24, as per the data shared by auto industry body

Carmakers resort to discount offers and price cuts to revive volumes

Discounts and other benefits were already being offered on compact cars and sedans, and they have recently been extended to hot-selling SUVs

BMW recalling more than 390,000 vehicles due to airbag inflator issue

The original steering wheel may have been replaced with a sport or M-sport steering wheel equipped with a Takata inflator, the agency said

In a boost for Toyota, UP government cuts levies on hybrid cars

The government of India's most populous state will also waive the registration tax on some hybrid car sales, it said in a July 5 notification

MC Exclusive: Hybrid Cars could see a budget boost with potential cess cut

The proposal, if implemented, will provide a strong boost to sales of hybrid cars in the country, as it will reduce the tax differential between hybrids and electric cars.

Budget wish list: ATMA asks govt to restrict import of waste tyres

The import of waste/scrap tyres into India has increased by more than five times since FY20-21, ATMA said in its pre-budget submission to the finance ministry

Mahindra & Mahindra reduces top XUV 700 model's price to Rs 19.49 lakh for 4 months

The SUV, which recently achieved the milestone of producing 200,000 units, will be available in the special price only for a period of four months starting July 10, the company said.

Auto stocks in huge demand; Maruti jumps nearly 7%

Shares of Maruti jumped 6.60 per cent to settle at Rs 12,820.20 on the BSE. During the day, it soared 7.72 per cent to Rs 12,955