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To date, the automaker has exported one lakh units of CKD vehicles since it began shipments in June 2020 from its manufacturing facility at Anantapur in Andhra Pradesh.
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While the company’s franchisee partners started retailing the electric variants of Punch, Tiago, Tigor and Nexon at its EV outlets, it recently accommodated Currv EV (also available in the ICE version) since November
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While Pune leads in CNG sales (35,144 units), Delhi is second with 31,529 units, followed by Mumbai at 24,056 units (January-September ‘24).
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The two electric brands - XEV and BE - are debuting their flagship products, next week. Mahindra has in the past stated the objective of making India a hub of EV manufacturing.
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The company's range of locally produced cars includes the 2 Series Gran Coupe, 3 Series Long Wheelbase, 5 Series Long Wheelbase, 7 Series Long Wheelbase, X1, X3, X5, X7 and M340i.
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Two electric brands - XEV and BE - will be based on this INGLO architecture, set to be unveiled on November 26 in Chennai.
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The Pawan Munjal-led firm had earlier said that it is looking to sharpen its focus on ICE and e-scooters, and also widen its portfolio in the premium motorcycles space.
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Belrise Industries IPO | The IPO consists solely of fresh issue by the company, with no offer-for-sale component.
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The US company is the latest automaker after Nissan, Stellantis and GM to cut costs as the industry struggles with growing competition from Chinese rivals in Europe, waning demand in China, and the challenges of shifting to EVs that remain too expensive for most consumers to buy.
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While no carmaker has officially announced any price cuts, a FADA source said buyers can expect 20-30 percent discount on ex-showroom price of most models until December 31
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Vingroup also said it will convert all existing loans of about $3.3 billion to VinFast Vietnam into dividend-entitled preferred shares, a move that will help address the "short-term financial pressure" on the EV maker.
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This would be for the second consecutive year that the estimated revenue growth for the tyre manufacturer will be in single digit (albeit nearly double than that of last fiscal) and after logging a compound annual growth rate of 21 per cent between fiscals 2021 and 2023, Crisil Ratings said.
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As per FADA data, festive demand helped PV retail sales rise 32 per cent year-on-year (YoY) to 4,83,159 units in October.
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Most of the layoffs will affect staff in North America, said the people, who asked to not be identified because they weren’t authorized to speak publicly
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Per data provided by SIAM, the sales of small cars declined 15.5 percent to 66,000 units between April-September 2024.
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Price protection valid until December 31st for all the existing and future bookings of cars that are currently not in stock, the company said
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'We could have fully met or even exceeded our targets of 45 lakh units if not for the unseasonal heavy rains in South India,' says FADA
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FADA said it anticipates passenger vehicle inventory to reduce further from October levels, and has asked OEMs to liquidate 2024 stock further, so dealers can enter 2025 with the "ideal FADA-recommended 21 days of inventory".
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As per a Government Resolution (GR) issued on Tuesday, these old vehicles will have to be scrapped only through registered vehicle scrapping facilities before January 31, 2025.
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Seemingly referring to Hyundai, the minister said the auto industry is sitting on high margins and should look at more competitive pricing
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The Pawan Munjal-led company registered an 11 percent year-on-year increase in revenue at Rs 10,463 crore
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Goyal also highlighted government incentives like EV Policy and PM e-Bus Seva Yojana, which underscore India’s commitment to sustainability and move towards carbon neutrality
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The vehicle scored 31.09/32 in adult occupant protection (AOP) and 45/49 in child occupant protection (COP), setting a new benchmark in safety.
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The overall passenger vehicle dispatches to dealers stood at 3,89,714 units in October 2023.
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Hyundai India sold a total of 1,91,939 units of Passenger Vehicles (PVs) during Q2, out of which export volumes stood at 42,300 units. The automaker had sold a total of 2,09,777 units in the year-ago period
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The company, which launched all-new version of its compact sedan Dzire priced between Rs 6.79 lakh and Rs 10.14 lakh (ex-showroom Delhi), is bullish on enhancing its share in the sedans category despite the fast growth of SUVs and asserted that it would continue to cater to all segments to preserve its high market share in the domestic market.
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The storied British brand is going dormant until 2026, when it will re-emerge selling only higher-end electric vehicles. Until then, Tata Motors Ltd.-owned Jaguar Land Rover won’t ship any new Jaguars to UK dealers.
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In the mid- to long-term, the company expects a sustained demand momentum in the industry and will continue to focus on quality of growth by maintaining an optimum balance between volume, market share and margins.
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In order to fulfil its objective of selling six lakh units of cars that are run on clean fuel, the country’s largest carmaker is banking on the CNG-driven variants of new-generation Swift hatchback and Dzire sedan
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The entry-level sedan will be taking on Tata Tigor, Honda Amaze, Hyundai Aura, and others in the sub four-metre category, and will be sold in four variants namely LXI, VXI, ZXI, and ZXI+
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Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners.
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Electric four-wheeler passenger vehicles registered for commercial purposes or public transport used to get incentives under FAME II scheme which concluded on March 31, 2024.
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The automaker has earmarked Rs 9,000 crore for the Tamil Nadu unit, which is expected to generate about 5,000 jobs
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The homegrown automaker is now looking to up its zero-emission game beginning with the unveil two new electric SUVs-the XEV 9e and BE 6e, at the on November 26, 2024. Jejurikar reaffirmed that e-SUVs will account for 27 percent of M&M's total passenger vehicle sales in the next three years.
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Mahindra & Mahindra reported a rise in second-quarter profit, helped by higher sales of its SUVs and a recovery in tractor demand.
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In the domestic market, the company hopes to enhance its share in the sedan market amid the passenger vehicles market shifting towards SUVs (Sports Utility Vehicles), with the new Dzire which is slated for launch next week
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Speaking at the global premiere of its first sub-four meter SUV, Kylaq, here, Skoda Auto CEO Klaus Zellmer also said India's domestic potential as the world's third-largest car market is huge and the introduction of a new model in the domestic market will help Skoda achieve its target of selling 10,000 cars annually by 2026
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With the Kylaq, Škoda Auto India will now offer three SUVs including Kodiaq and Kushaq. The new model is based on the MQB-A0-IN platform, which also underpins the Slavia sedan and Kushaq SUV
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At least 7-8 launches across various segments beginning at Rs 8 lakh (ex-showroom) and going up to Rs 2.10 crore (including import duty)
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The emergence of subcompact SUVs has shifted consumer preferences away from traditional hatchbacks primarily because of a heftier price tag for small cars
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Balaji could be appointed as a unifying executive of both the entities to ensure effective capital allocation, the report said citing sources.
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The company clocked retail sales of 2,02,402 units last month, which is its highest for any October month on the back of festive sales, breaking the previous record of 1,91,476 units posted in October 2020.
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The auto major had sold a total of 1,99,217 units in the same month last year, Maruti Suzuki India (MSI) said in a statement
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New energy vehicles (NEVs) remain a significant part of its overall sales, contributing over 70 percent to the total volume in October, JSW MG Motor India said in a statement
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Domestic sales were up marginally at 55,568 units last month as compared to 55,128 units in October 2023, the newly listed firm said in a regulatory filing
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The firm has a market share of 30 percent, dominating the EV 2W segment in India, according to the statement
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It stood at 84,435 units in the year-ago period, according to a filing.
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The Mumbai-based auto major had dispatched 80,679 units to dealers in October last year
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Total domestic sales were marginally up at 80,839 units last month against 80,825 units in the year-ago period, Tata Motors said in a regulatory filing.
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During last month, TVS Motor reclaimed the second spot at 28,267 units as the Chennai-based automaker’s MoM sales went up by nearly 55.15 percent from 18,218 units
