Elon Musk Tesla | Photo: Bloomberg By Mihir Sharma Elon Musk’s long courtship of Indian officialdom may have finally paid off. Prime Minister Narendra Modi wanted him to open one of his Tesla “gigafactories” in the country, as part of its efforts to expand its long-moribund manufacturing sector; Musk, meanwhile, wanted India to… Continue reading Govt’s big bet on Musk’s Tesla ‘gigafactories’ in India might just work | Auto
Tag: auto
German carmaker Volkswagen to tap demand for performance-oriented vehicles | Auto
The growth of GT sales is not limited only in the metros and cities, he said, adding that “if I look at the GTs even in the Tier II and tier III towns, almost 20 to 25 per cent of my sales are the GTs”. German carmaker Volkswagen is seeking to cash in on… Continue reading German carmaker Volkswagen to tap demand for performance-oriented vehicles | Auto
Bajaj Auto to invest over Rs 3,000 crore in finance arm BACL: Official | Company News
Pune-headquartered two-wheeler and three-wheeler major Bajaj Auto is ramping up its wholly-owned captive finance subsidiary Bajaj Auto Credit Ltd (BACL) and plans to invest more than Rs 3,000 crore over financial years 2024-25 and 2025-26, a senior company official said. Rajiv Bajaj, managing director of Bajaj Auto Ltd, said that BACL has already… Continue reading Bajaj Auto to invest over Rs 3,000 crore in finance arm BACL: Official | Company News
Auto players line up array of new EV models in coming years on govt push | Auto
Maruti Suzuki India Executive Officer (Corporate Affairs) Rahul Bharti said the auto major is making serious investments in EVs | Photo: Bloomberg The Indian auto industry is gearing up to roll out an array of electric vehicle models over the next few years amid a renewed push by the government to encourage environment-friendly mobility… Continue reading Auto players line up array of new EV models in coming years on govt push | Auto
Domestic auto component industry reports highest turnover in FY23
The domestic auto component industry expects to log in double-digit sales growth in the current fiscal after having reported its highest-ever turnover in 2022-23, as demand is expected to remain robust. As per the Automotive Component Manufacturers Association (ACMA), the sector reported a turnover of Rs 5.6 lakh crore last fiscal, registering a… Continue reading Domestic auto component industry reports highest turnover in FY23
Auto retail sales up 10% in July y-o-y; three-wheelers at record pace: FADA
Staying with the growth momentum, automobile retail sales in July posted a 10 per cent year-on-year increase, with 1.77 million units sold. Three-wheelers took the lead with a record growth of 74 per cent, according to the Federation of Automobile Dealers’ Associations (FADA). However, sales declined by 5 per cent month-on-month (m-o-m) mainly due… Continue reading Auto retail sales up 10% in July y-o-y; three-wheelers at record pace: FADA
M&M Q1 PAT up 60% to Rs 3,508 cr on strong auto performance, revenue up 19%
Mahindra and Mahindra (M&M) reported a 60 per cent jump in its consolidated profit after tax (PAT) to Rs 3,508 crore, riding on a 19 per cent year-on-year (YoY) rise in its revenues to Rs 33,892 crore. On a quarter-on-quarter (QoQ) basis, PAT jumped 33 per cent while income from operations has grown… Continue reading M&M Q1 PAT up 60% to Rs 3,508 cr on strong auto performance, revenue up 19%
Oil & Gas, real estate, AI, Hospitality, auto see hiring spree in July
India’s IT sector saw the biggest drop in new jobs with a 46 per cent decline in July compared to the year-ago period, according to a report. Even ob postings for white collar hiring in July stood at 2,573, down 8 per cent compared to the previous month, and down 19 per cent compared… Continue reading Oil & Gas, real estate, AI, Hospitality, auto see hiring spree in July
Indian auto industry is driving sustainable mobility through 6 initiatives
As India shifts gears to meet its net-zero target by 2070, the transition towards clean energy and multiple decarbonisation initiatives will optimise the use of the country’s energy mix and reduce the proportion of fossil fuels over the long run. Since the Indian automotive industry has always been a key indicator of the… Continue reading Indian auto industry is driving sustainable mobility through 6 initiatives