This was being expected for long but couldn’t happen before as individual businesses were not stabilised and needed to support each other. Finally, given Tata Motors’ (TML) significant turnaround across businesses in the last 2-3 years, it is separating the Commercial Vehicles (CV) and Passenger Vehicles (PV) businesses. all the CV business and its related … Read more
Car wholesales remained strong in February as the industry races to a record 42-lakh-plus mark for first time in a financial year in 2023-24. All top players, including Maruti Suzuki, Tata Motors and Mahindra & Mahindra, despatched healthy numbers to retail outlets as industry inventory remains at moderate level of around a month of sales. … Read more
Maruti Suzuki India expects to invest around Rs 45,000 crore to double its production capacity to 40 lakh units annually in the next eight years, company Chairman RC Bhargava said on Tuesday. The company will also take up suggestions by shareholders for a stock split to its board for consideration, he said while speaking at … Read more
Cartrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s automotive business. It’s an all cash deal Cartrade is paying Rs 537.43 crore for the transaction Olx Auto financials Revenues: FY 22 – Rs 1,110 cr FY 21 – Rs 592 cr FY 20 – … Read more
Currently, such imports attract 5 per cent or 12 per cent IGST The GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) for levy of 22 per cent compensation cess over and above the 28 per cent GST rate, sources said. The Council is expected … Read more
Tata Motors is planning to double the share of CNG vehicles in its overall sales in the financial year 2023-24, an ETAuto report said. This comes on the back of healthy consumer demand for CNG vehicles, which have grown in popularity because of the high prices of petrol and diesel. Moreover, an increase in the … Read more
Kevin O’Leary said Tesla’s Cybertruck has a “really ugly look” but demand is high. He also told Yahoo Finance that the forthcoming vehicle has strong potential margins. “I want one. I think they’re nuts. And I think it will be a lot of fun to drive a tank,” O’Leary said. “Shark Tank” star Kevin O’Leary … Read more
Along with it’s Q4 FY 23 results, Maruti has informed about the Board’s approval for additional 1 mn units capacity expansion. The decision has been taken to capitalize on the anticipated growth in the domestic and overseas market. This is in addition to the already under progress capacity expansion at Sonipat. In Sonipat also, the … Read more