Jose Munoz literally shattered the glass ceiling as he became the first non-Korean to become the global CEO and President of Korean automotive giant Hyundai in Jan 2025. A native of Spain and currently a US citizen, the 60-year-old Munoz now has his eyes firmly fixed on India, a market that he sees not just … Read more
Stellantis NV is planning to invest about $10 billion in the US as the troubled maker of Jeep sport utility vehicles and Ram pickups refocuses on the market that’s pivotal to its profits, according to people familiar with the situation. The carmaker may announce in the coming weeks about $5 billion in fresh money on … Read more
US President Donald Trump on Wednesday said he was placing 25 per cent tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains. “This will continue to spur growth. We’ll effectively be charging a 25 per … Read more
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
Bajaj Auto-backed Yulu, India’s largest shared electric mobility company, is eyeing international markets with its electric two-wheeler ecosystem around 2025-26. This expansion will be driven by a new product from Bajaj, alongside Yulu’s broader plans to grow its market presence and product offerings in India. The company aims to achieve profitability by 2024-25. Yulu is … 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
Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … 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
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