Page 14 - Automobile

Ashok Leyland expands LCV offering in bid be among top-10 global CV players

The CV major has said that LCV will be one of the three major levers to drive company's future growth

Auto retail sales down by 26.8% in August, jump in tractor segment by 28.7%

Dealers said that the overall demand is still not back to pre-Covid levels as banks and NBFCs continue to have a cautious approach towards funding

Maruti Suzuki India posts 11% rise in production to 123,769 units in August

The country's largest carmaker Maruti Suzuki India said its total production in August increased by 11 per cent to 123,769 units

SIAM appoints Maruti Suzuki India CEO Kenichi Ayukawa as its new president

The executive committee of Society of Indian Automobile Manufacturers (SIAM) has elected Kenichi Ayukawa as its new President.He has been the Managing Director and Chief Executive Officer of Maruti Suzuki India Ltd since 2013.Ayukawa who was earlier the Vice President of SIAM succeeds Rajan Wadhera, Senior Advisor at Mahindra & Mahindra Ltd.The members of SIAM also elected Vipin Sondhi, Managing Director and Chief Executive Officer of Ashok Leyland Ltd, as the next SIAM Vice President.Vinod Aggarwal, Managing Director and Chief Executive Officer of Volvo Eicher Commercial Vehicles Ltd, will continue as the Treasurer.SIAM is a not-for-profit apex national body representing all major vehicle and vehicular engine manufacturers in India. It works towards supporting sustainable development of the Indian automobile industry with the vision that the country emerges as a destination of choice for design and manufacture of automobiles.

Auto firms moving facilities out of China to cover geopolitical risks: SIAM

Many companies in China are relocating plants in other countries to cover geopolitical risks and the auto and components sector must bring those investments or tie up with them to produce in India

Auto industry facing tough times, needs govt support: Kenichi Ayukawa

The Indian auto industry is facing one of the toughest times in history and needs government support through reduction of GST and incentive-based scrappage policy, Kenichi Ayukawa said

Hyundai, Kia recall over 600,000 vehicles for leaks that can cause fires

Korean automakers Hyundai and Kia are recalling over 600,000 vehicles in the U.S. and Canada to fix a brake fluid leak that could cause engine fires.

Bajaj Auto posts 9% fall in total sales in August with 356,199 units sold

Bajaj Auto on Wednesday reported a 9 per cent fall in its total vehicle sales at 3,56,199 units in August

Escorts Ltd posts best-ever August sales; domestic tractor sales shoot 80%

The company's domestic sales rose to 6,750 units from 3,763 units

Two-wheeler makers' shares surge after Sitharaman's comment on GST cut

Shares of two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Company soared after Nirmala Sitharaman's comment that the GST Council will consider the proposal to cut GST on two-wheelers

Top-end bike maker Harley-Davidson may exit India due to poor sales: Report

Harley-Davidson India sold fewer than 2,500 units in the last financial year and only about 100 bikes between April-June 2020

Ashok Leyland shares up 13% post Q1 nos; expects Q3 and Q4 to be better

The company reported a consolidated net loss of Rs 388.82 crore for the first quarter ended June 30 (Q1) as against a net profit of Rs 274.96 crore in Q1FY20

Honda Amaze crosses 400,000 cumulative sales milestone in India

Honda Cars India Ltd said its compact sedan Amaze has crossed 4-lakh cumulative sales mark in the country

Kia Motors Corp unveils compact SUV Sonet; plans to launch next month

South Korean automaker Kia Motors Corporation on Friday globally unveiled its sub four meter compact SUV Sonet which it plans to launch in India next month.

Tata Motors introduces subscription model for compact SUV Nexon EV

Customers can select the tenure of their subscription from a minimum period of 18 months, 24 and 36 months

Toyota ekes out weakest Q1 profit in 9 years as pandemic halves car sales

Toyota's operating profit plunged 98% to 13.9 billion yen ($131.73 million) for the three months ended June

US auto sales recovery amid pandemic continues as Toyota decline slows

The Japanese automaker said its sales in July fell 19% versus the same month in 2019, to 169,484 units

Tractor sales grow as monsoon, govt help for farmers lift rural economy

Companies expect to reach full capacity in August after fixing supply chains that collapsed in the months-long lockdown to contain the coronavirus

Two-wheeler sales show recovery in July; firms dispatch 769,045 units

The year-on-year decline also narrowed to 4.4% in July from the high double-digit decline in the previous month

FCA India recalls 547 units of MY20 Jeep Compass for fixing 'brace nut'

Automobile maker FCA India said it is recalling 547 units of its 'MY20 Jeep Compass' model to rectify fitment of a 'brace nut' which is used in wiper assembly as a precautionary exercise.