In a bid to mitigate the alarming build-up of unsold passenger vehicle (PV) inventory, the Federation of Automobile Dealers Associations (Fada) is set to formally approach banks and non-banking financial companies (NBFCs) with requests to exercise caution when disbursing funds to dealers. This comes after the dealers’ body wrote twice to the Society of Indian … Read more
Gliding on robotic haulers, a line of Ferrari frames maneuvers through a gleaming new factory in Northern Italy. At each station, engineers in cherry red uniforms add a component — an engine block, a dashboard, a steering wheel — as they transform the bodies into hybrid vehicles. Up next: fully electric. A lot is riding … Read more
Jaguar Land Rover owned by India’s Tata Motors, is set to commence the production of its iconic Range Rover and Range Rover Sport models in India. This marks the first time in the 54-year history of these models that they will be manufactured outside of the UK. Previously, both models were exclusively produced at Jaguar … Read more
The top US auto-safety regulator is again investigating Tesla Inc.’s Autopilot, this time over whether a fix deployed months ago did enough to stop people from misusing the system. The National Highway Traffic Safety Administration disclosed Friday that it’s opened a query into the Autopilot recall Tesla conducted in December. The agency is concerned as … Read more
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