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Maruti bets on new-gen models to race past industry growth
Maruti Suzuki India is aiming to sell about 2 million vehicles in the current fiscal, an 8.1% increase, outpacing the domestic industry. The company is betting on the launch of new models to drive growth, targeting a 10% rise in production. Maruti also plans to step up exports significantly and invest INR 1.25 lakh crore by 2030 to double output. The company's aggressive strategy aims to regain market share lost to rivals in recent years.
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VECV to invest around INR 1000 cr on multiple alternative fuel technologies for new-age CVs
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Auto Industry ramps up C-suite hiring amid post-pandemic sales surge
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M&M launches XUV 3XO at aggressive prices, aims to be among top 2 in category by 2027
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M&M’s Europe biz CEO Gurpratap Boparai steps down
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Govt looks to revisit funding support for automotive testing agencies, says Dr. Hanif Qureshi
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Prices can't dampen EV sales as it steps on leasing pedal
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For Tesla, India can perhaps wait for now
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Cost of hybrid tech is high, Suzuki Japan working to make it affordable for India, says RC Bhargava
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Wayne Burgess, VP, Design, Ola Electric, steps down after 3 years
His contribution to Ola Electric comprises the construction of Future Factory during the first 6 months of his tenure. He was also involved in launching the S1 scooter and its subsequent derivatives and creating the e-motorcycle concepts like ‘Diamondhead’.
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Suzuki Motorcycle India domestic sales increase 31% to 88,067 units in April
Its total sales for April 2024 closed at 99,377 units, up by 12% from 88,731 units sold in April’23, the company said.
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APAC auto turbochargers market to dip at 2% CAGR over 2023-28: GlobalData
The growth of electric vehicles (EVs) is significantly reducing the demand for ICE engine vehicle cars, and also turbocharger demand.
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Royal Enfield domestic sales up 9% to 75,038 units in April 2024
The company exported 6,832 motorcycles during the month as compared to 4,255 during the same period last year.
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Exide Industries Q4 Results: Firm beats profit view on higher demand
Exide, which earns two-thirds of its revenue from the automotive market, plans to deepen its presence in the sector as it aims to start making lithium-ion cells by the current fiscal year.
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EV maker Polestar to delay fourth-quarter results for a second time
Polestar also requires more time to complete work related to the internal control of its financial reporting as per the Sarbanes-Oxley Act of 2002, the spokesperson said.
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Automakers report higher car, two-wheeler sales in April
Indian automakers posted record sales volumes in fiscal 2024 and the momentum is expected to continue in the current financial year.
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Petrol sales up 12.3%; diesel slides 2.3% in Apr
While petrol sales were up mostly due to an increase in the use of personal vehicles on the back of a price cut, crop harvesting season and the onset of summer, which will increase the demand for air conditioning in cars as well as the electioneering holds out hope for reversing the trend in diesel demand.
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Exports of eco-friendly cars drop amid slowing EV shipments in S. Korea
South Korean exports of environment friendly vehicles fell for the first time in the first quarter after reporting on-year increases in the past 12 quarters, an industry association said on Wednesday.
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Why vintage cars are running on empty
While acquiring classic wheels is an expensive hobby, with no mechanics and spares, maintaining them is a bigger challenge
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TVS Motor sales increases 25% to 383,615 units in April 2024
The company recorded electric vehicle sales of 17,403 units in April 2024, indicating continued robust demand. Electric vehicle sales last year in April 2023 were at 6,227 units.
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India woos foreign investors for big push to critical minerals sector
Invest India on Tuesday highlighted the huge business opportunity for critical mineral processing in the country to foreign investors with details of fiscal and non-fiscal incentives being offered to push growth in the sunrise sector.
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In the driver's seat of driverless cars
China has amassed a ferocious pack of EV-makers, led by the world's top producer BYD, that are not only forcing price cuts but are also pushing the envelope on autonomous vehicles. This is helped by the fact that some of its EV-makers such as Huawei started out as smartphone manufacturers and have been quite adept at making cars smarter.
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Chipmaker AMD narrowly beats first-quarter revenue estimates
Enterprises rushing to adopt generative AI have prioritized spending on AI server chips, hitting demand for traditional server semiconductors, which constitute a large portion of AMD's revenue. These processors cannot effectively handle the complex tasks associated with AI.
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Graphite miners lobby US govt to impose levy on China-sourced EV material
The U.S. government is set to decide in May whether to bring graphite into the list of minerals that attract the higher Section 301 tariff.
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Rupee ends slightly higher on day, little changed on month
The rupee closed at 83.4250 against the U.S. dollar, mildly stronger from its close of 83.47 in the previous session. The local unit was little changed month-on-month.
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China’s EV and solar exports are powering ahead as prices slide
Overseas sales of those three products — identified by Beijing as vital for future economic growth — surged above USD 150 billion last year, an increase of more than one-fifth, according to a new report from Australia’s Griffith Asia Institute.
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Coal India production rises 7% in April
Coal India Ltd (CIL) reported a 7.3% increase in coal production to 61.8 million tonnes (MT) in April compared to 57.6 MT in the same period last year. CIL, which contributes over 80% of domestic coal production, also saw a 3.2% rise in coal offtake to 64.3 MT. Despite producing 773.6 MT in FY24, CIL fell short of its target of 780 MT.
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Aston Martin losses balloon ahead of new model ramp up
Aston Martin, which has launched several new cars over the past year including its next generation sports cars the DB12 and Vantage, stopped production of old models ahead of the ramp up in production of fresh models later this year.
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Ola Electric retains E2W market lead with over 52% share in April 2024
In April, one in every two E2Ws registered in India was an Ola S1, the company said.