Automobile | Page 2

With a potential $3.5 billion Indian IPO on track for Hyundai, rival automobile companies, Tata Motors and Mahindra, eye the number two spot in the Indian market

Automobile wholesale volumes are expected to be mixed in June, with two-wheeler volumes expected to grow 5 per cent year-over-year (YoY), while passenger vehicle volumes are expected to rise 3 per cent YoY. Commercial vehicles are expected to see flat sales growth, while tractor sales are expected to dip.

In September, production of Mini and Compact cars stood at 101,554 as against 128,604 in September 2022. Similarly, in August 2023, a total of 98,056 units in Mini and Compact Sub-segment categories were produced compared with 105,973 units in August 2022

The company is eyeing a 30 to 40 per cent increase in sales during the upcoming festive season, says, Sanjay Thakker, promoter and executive Chairman, Landmark Cars Limited

In the first quarter ending June 30, 2023, Tata Motors reported a 5 per cent increase in its group global wholesales, including Jaguar Land Rover, at 3,22,159 units.

Companies such as BMW, Mercedes-Benz, Audi, Lexus see potential in emerging markets of Tier II and Tier III cities which are growing rapidly

The fund raised will help the company to expand into new geographies and enhance the tech stack for new car dealerships, unlocking significant value in used car transactions

In India McLaren has witnessed double-digit sales in FY23 with a market share of 25 per cent

As per reports, the luxury car manufacturer has hired consultants led by McKinsey & Co. to advise on the same

Compared to last year, the two-wheelers and three-wheelers too saw an uptick in sales

Amongst the overall vehicle sales, the passenger vehicle segment (PV), which achieved record sales in FY23, slowed down in April. While a few companies reported a decline in sales numbers others reported an overall growth, as per their April 2023 wholesales statistics

To promote EVs in UP, the Yogi government has decided to give up to 100% exemption on road tax and registration fee for three years

By 2030, Volkswagen reportedly expects 25-30% of its total sales in India to come from EVs and the rest from internal combustion engine vehicles

Lamborghini India Head Sharad Agarwal Agarwal stated that the company now has customers in places like Amritsar, Shillong, Lucknow, Udupi, and Ajmer as the demand is fairly spread out

The market estimates reported that as of 2022, India is the third largest automobile market in the world, surpassing Japan and Germany in terms of sales

Contributing 7.1 per cent to India's GDP and 49 per cent of the manufacturing GDP, the country's automobile sector is one of the fastest growing in the world.

Zero custom duty will be effective from April 1, 2023

According to Reuters, French car maker Renault and its Japanese partner Nissan Motor plan to formally unveil a deal to reshape their alliance in London

Chara is building a scalable, cloud-controlled, and rare-earth free platform for designing, building, and deploying electric motors for EV, HVAC and various other applications

Auto Expo 2023, India's largest automotive event, kicked off in Greater Noida on Wednesday. On the first day of the event, automobile giants such as Hyundai, Maruti Suzuki, Kia, MG Motors, among others, showcased their products

According to FADA numbers, the month saw an overall year-on-year sales growth of 26 per cent, boosted by festive sales and the wedding season