Auto News
Tata Motors eyes 4-6% increase in PV market share by 2030
The introduction of new nameplates is expected to boost volumes and operating leverage and revenues across PV and EV, bumping up realisations at the portfolio level. It also sees softening of battery prices to drive higher profitability for EVs.
PV sales up in low-digits as growth pace moderated in May: SIAM
Passenger vehicle dispatches increased by 3.9% in May, setting a new record. Three-wheeler sales surged by 14.7%. Two-wheelers grew by 10.1%. The industry is optimistic about steady growth in 2024-25 due to expected good monsoon and economic development.
Tata Motors eyes 4-6% increase in passenger vehicle market share over the next 2 to 3 years
Tata Motors aims to boost its market share in India from 14% to 18-20% over the next 2-3 years. This growth is driven by new launches in both internal combustion and electric vehicle segments. The company also plans to expand its EV-exclusive showrooms and enhance the charging infrastructure significantly by 2030.
Domestic passenger vehicle sales up 4% in May at 3,47,492 units: SIAM
India's passenger vehicle wholesales increased by 4% YoY to 3,47,492 units in May, according to SIAM. The overall dispatches from companies to dealers reached 3,34,537 units. Two-wheeler sales rose 10% to 16,20,084 units, while three-wheeler dispatches rose 15% to 55,763 units.
Hyundai Motor gearing up to drive into Indian capital market
Hyundai has hired several investment banks to manage the IPO and is targeting a valuation of $22-28 billion. The IPO could lead to a rerating of the Indian automobile sector and benefit Hyundai's closest rival, Maruti Suzuki.
Vehicle registrations rise by a modest 3 per cent in May
Vehicle registrations increased by 3% to 2.09 million units last month, with delays in purchases due to election uncertainties and extreme heat. Passenger vehicle registrations slightly decreased by 0.96% to 303,358 units. Two-wheeler registrations rose by 2.48% to 1,534,856 units, three-wheelers by 20.09% to 98,265 units, and commercial vehicles by 4.07% to 83,059 units.
Discount deals: Tata cars drop prices by up to Rs 60,000; Tiago, Altroz, Nexon, and more on sale now
As the sun shines brighter and temperatures soar, Tata Motors is ushering in the summer season with irresistible discount deals on some of its most sought-after car models. For those contemplating a Tata vehicle purchase this month, the timing couldn't be more perfect – substantial savings await on popular models including the Tiago, Altroz, Nexon, Harrier, and Safari.
Epicor webinar: Industry experts traverse Cloud ERP tailored for the automotive sector
Vishal Raj Saini, Country Head of Epicor Software India and Indian Subcontinent, discussed 'Implementing Cloud ERP' with industry experts at a panel by The Economic Times and Epicor.
May auto retails impacted by heatwave and elections, dip 5.3% MoM: FADA
In May, auto retail sales dropped by 5.28% from the previous month, influenced by the heatwave and the recent Lok Sabha elections, according to FADA. However, annual figures showed a 2.6% increase. Two-wheelers and commercial vehicles saw year-on-year growth, while passenger vehicles and tractors slightly contracted.
PV exports rise by 2.68 lakh units in last 4 years; Maruti accounts for 70 pc of incremental shipments
Passenger vehicle exports from India increased by 2.68 lakh units in the last four fiscal years, with Maruti Suzuki India contributing to nearly 70% of the growth.
Toyota Kirloskar Motor looks to expand used car biz across key cities
Toyota Kirloskar Motor aims to expand its used car business in key cities with the inauguration of the first Toyota Used Car Outlet (TUCO) in New Delhi, targeting the growing Indian used car market.
Cloud ERP in Automotive: Insights from Epicor and Industry Experts
In a webinar presented by The Economic Times in collaboration with Epicor, Vishal Raj Saini, Country Head – India and Indian Subcontinent at Epicor Software, was joined by Ashish Sinha, Head Operational Excellence India Operations of Autoliv India and Parna Ghosh, CIO at Minda Industries, CIO, Uno Minda Group, to deliberate on the topic: ‘Implementing Cloud ERP: Best Practices and Case Studies in Automotive Manufacturing’. The experts shared incisive insights into the cutting-edge technology, dissecting its use, implementation, and challenges, and outlining a future-setting agenda for the sector.
Maruti announces limited edition ‘Dream Series’ models for select hatchbacks starting at Rs 4.99 lakh
Maruti Suzuki introduced 'Dream Series Limited Edition' models for Alto K10 VXI+, S-Presso VXI+, and Celerio LXI. The models will be available in June 202. The variants have model-specific enhancements for safety and utility features. Priced at Rs 4.99 lakh, the limited editions offer various conveniences such as reverse parking camera, security system, multimedia stereo, and more.
Tata Motors board okays to incorporate new wholly-owned unit
Tata Motors board approves setting up wholly-owned subsidiary TML Commercial Vehicles Ltd for commercial vehicles business.
Volkswagen India to offer 6 airbags across all variants Taigun and Virtus models
Volkswagen India announced that all variants of its Taigun and Virtus models, both rated 5-Stars by Global NCAP for safety, will now come equipped with six airbags. This move is part of Volkswagen's ongoing efforts to enhance its product offerings since the launch of its India 2.0 portfolio. The Taigun, a subcompact crossover SUV, debuted in September 2021, while the Virtus, a mid-sized sedan, was introduced in March 2022.
Demerger of biz to help commercial vehicle business capitalise on opportunities globally: Tata Motors
Tata Motors is planning to demerge its commercial vehicle (CV) and passenger vehicle (PV) segments into two separate listed entities to better capitalize on global growth opportunities. The CV business and related investments will be housed in one entity, while the PV business, including electric vehicles (EVs), Jaguar Land Rover (JLR) and its related investments, will come under a separate listed entity.
