Car Market

Initial estimates valued the car at $7.5 million to $9.5 million, a spokesperson for Sotheby’s confirmed — an elite sum that won’t surprise anyone who pays attention to the obscure world of decommissioned race cars.

China 2016 auto sales surge at fastest in three years

The world's second-largest economy is crucial to global auto manufacturers, but the market took a hit from slowing economic growth in 2015.

FAW-Volkswagen reports record Audi sales in China in 2016

The company said its Audi car sales increased 3.73 percent over that in 2015, accounting for nearly one third share of the domestic luxury car market. Of the Audi cars sold in 2016, 539,000 were made in China, an increase of 5.23 percent year on year.

Operating Lease to Drive the Growth of Fleet Leasing in India, Finds Frost & Sullivan

The company car market and the vehicle leasing market in India is at an emerging stage, but has shown potential for high mid-term growth. Fleet ...

Volkswagen boss quits over diesel emissions scandal

Volkswagen CEO Martin Winterkorn said he was shocked by events of the past few days, above all that misconduct on such a massive scale was possible at the company.

Volkswagen says 11 mn cars hit by scandal, probes multiply

The world's largest automaker said it would set aside 6.5 billion euros (USD 7.3 billion) in its third-quarter accounts to help cover the costs of the biggest scandal in its 78-year-history, blowing a hole in analysts' profit forecasts.

Luxury carmaker Jaguar launches first offroader

Sister brand Land Rover has long built SUVs but Jaguar's first foray into the market with its crossover F-PACE marks the latest stage of an investment programme launched by Indian owner Tata, which bought both brands in 2008.

Global carmakers reengineer India strategy to grow sales

Automakers like General Motors, Nissan Motor Co and Renault SA have over the past weeks announced hundreds of job losses. Some have already reduced output, and industry analysts expect more to come.

Tata Capital, Carwale.com launch online car loan store

The car loan portal offers customised loans with flexi EMI options like step-up, step-down, bullet and balloon payments for the entire range of cars, SUV, MUVs, cross-over vehicles and premium cars, including over 20,000 used cars.

BMW says weak China demand could hurt full-year earnings

Chief financial officer Friedrich Eichiner said the world's most populous country, a robust source of growth for German car manufacturers in recent years, was now a riskier market.

Toyota falls behind VW in world's biggest automaker race

Toyota has fallen behind Volkswagen in the race for the world's biggest automaker title, figures showed on Tuesday, as the German giant outsold its Japanese rival in the first half of the year.

JLR appoints new China sales head after Q1 drop

Mark Bishop, former managing director of Porsche China, will oversee sales and marketing for Jaguar, Land Rover and cars made through JLR's joint venture with China's Chery Automobile in the country, the automaker said in a statement.

Maruti Alto retains slot as best selling car in FY15

Maruti Suzuki India continued its hold on the country's car market in 2014-15 with its models Alto, Swift, Dzire and WagonR retaining the top four positions. According to SIAM, Maruti's Alto sold 2,64,492 units in 2014-15 as against 2,58,281 units in the previous fiscal, retaining its numero uno position for the 10th year in succession.

Audi braces for stagnation in Europe: CEO

Germany's Audi is bracing for long stagnation in Europe, though trusts that continued growth in China will help offset slumping auto demand in its core region, its CEO said on Saturday.

Honda's Amaze set to debut next week

With the Indian car market veering towards diesel, Honda has had its share of trouble in India over the past couple of years. But the company is finally ready to jump on the diesel bandwagon, with its first compact sedan. The Amaze will debut next week.

Ditching JVs, carmakers drive alone in India

Japanese automaker Honda Motor Co's Indian marriage is on the rocks. Accusations by its local partner of "inappropriate" corporate governance and a tussle over future investment have exposed the perils of operating in a business model that has run out of gas for foreign automakers in India's booming car market.

Nissan: 'Sunny' days are here

CNBC-TV18’s Swati Khandelwal Jain reports that Nissan Motor India has entered the fast-growing c-segment passenger car market with its sedan – Sunny.

Asian, European car makers look to 2011 growth

South Korean automakers predicted rising 2011 sales on US and Chinese growth, while France's car market ended a negative 2010 on a high note, with drivers flocking to use scrapping bonuses before they ran out.