Top Indian Automobile Industry News & Updates - 05 Aug 2023,Saturday

🏢 Industry

📝  M&M Q1 consolidated PAT up 60% to INR 3,508 cr
📝  M&M board approves merger of three subsidiary companies
📝  M&M gives 3 reasons for investing Rs 400 crore in RBL Bank
📝  Won't increase stake in RBL unless the reasons are compelling enough: Mahindra Group MD & CEO
📝  Royal Enfield and VECV sales drive Eicher Motors Q1 profit up 50%
📝  China’s ambitions alarming, India offers the counterbalance: Anand Mahindra
📝  M&M Q1 Results: Profit nearly doubles to Rs 2,774 crore; revenue jumps 22% YoY
📝  Ola expands Prime Plus premium service to Mumbai, Pune, Hyderabad
📝  Open to collaborate for EV biz with OEMs in India and overseas, says M&M
📝  If EVs, hybrids are bought from outside UT, no road tax waiver
📝  Mahindra Group’s recent strategies have paid off: Anand Mahindra at AGM
📝  Preview: M&M seen reporting good PAT, revenue numbers in June quarter on price hikes, sales volumes
📝  Savi Soin appointed President of Qualcomm India, Rajen Vagadia takes global role
📝  India’s most expensive MUV launched at starting price of Rs 1.19 crore, check details of new Toyota Vellfire
📝  Hyundai Motors takes stake in AI semiconductor firm
📝  Mahindra & Mahindra puts RBL Bank stake purchase plan on hold
Read More >>

🎤 Interviews & Features

📝  As new taxis, auto rickshaws hit the road, the lumbering ride ends for both commuters and automakers
📝  Honda Elevate: Raising the bar
📝  Car review: Can the Honda badge elevate it ?
Read More >>

🚗 Cars / SUVs

📝  Maruti Suzuki leads the market with 8 vehicles in the top 10 list
📝  Tata Motors launches Punch CNG, price starts at INR 7,09,900
📝  Robust SUV sales help M&M post 60% rise in Q1 profit
📝  Hyundai Creta Adventure and Alcazar Adventure teased ahead of launch
📝  Mahindra not keen on CNG or hybrid in SUV space, but will explore flex fuel
📝  Maruti Suzuki Invicto gets new safety feature on base Zeta+ variant, price hiked
📝  Tata Punch iCNG to launch today: What to expect?
📝  Maruti's share in parent Suzuki's revenues reached highest ever in Q1FY24
📝  Honda cars get discounts of up to Rs 73,000 in August: Check details
📝  Maruti Suzuki Alto becomes India’s highest selling car, 45 lakh units sold
Read More >>

Electric-Cars / SUVs

📝  MG Comet EV Gamer Edition launched with new styling kits
📝  Green Mobility. More and more people in small cities warm up to electric cars
Read More >>

🚗 Luxury Cars

📝  Many buyers of Lamborghini in Indian Diaspora: CEO Stephan Winkelmann
📝   We are aiming 25% of our sales coming from EVs by 2027': Lance Bennett, VP, Sales & Marketing Mercedes-Benz India
Read More >>

⛟ Commercial Vehicles

📝  Vijayanand Travels to buy 550 Volvo, Eicher buses
Read More >>

🏍 2/3 Wheelers

📝  BMW Motorrad launches new colours for G 310 motorcycle range
📝  Best-selling two-wheeler brands in July 2023: Suzuki beats Royal Enfield
📝  Royal Enfield plans to launch its first electric bike in two years
📝  Triumph Speed 400 deliveries begin in India: Price, specs of Harley-Davidson X440 rival
Read More >>

🚲 Electric 2/3 Wheelers

📝  Odysse to supply 10,000 e-scooters to 2-wheeler MaaS player Bud-e
📝  Royal Enfield’s maiden electric motorcycle still two years away: Siddhartha Lal
📝  TVS teases upcoming electric two-wheeler, is it Creon?
📝  Yulu announces plans to foster local e-mobility businesses
📝  Hiving off EV biz not our approach, says Royal Enfield
📝  How Indian EV startups are democratising e-performance motorcycling in India
📝  TVS Jupiter ZX Drum SmartXonnect launched at Rs 84,468: What's new
Read More >>

⚙ Components

📝  Minda Corporation Q1 FY24 PAT at INR 45 cr
📝  Domestic, pre-buy demand drives Cummins India profits to Rs 415 crore in Q1 FY2024
Read More >>

🌇 Allied Industries

📝  JK Tyre Q1 FY24 PAT at INR 159 crore
📝  India's MRF reports five-fold jump in Q1 profit on cooling rubber prices, higher demand
📝  CG Power plans capex of over Rs 500 cr for capacity expansion in next two years
📝  MRF stock hits new high on solid Q1, but there is caution ahead
Read More >>

🌢 Fuels, Lubricants & Charging Stations

📝  Oil prices set for sixth weekly gain as producers pledge output cuts
📝  B2B and Infra demand drive Gulf Oil Q1 profit up 23%
📝  India insulated itself from rising fuel prices; enhancing refining capability: Oil Minister Hardeep Singh Puri
Read More >>

💸 Finance & Insurance

📝  TORK Motors partners with HDFC Bank to offer easy finance options
📝  M&M’s investment in RBL Bank was to understand banking business: Anish Shah
📝  Maruti Suzuki Smart Finance achieves 1 million customer milestone
📝  Altigreen partners with Axis Bank to offer tailored financial solutions
📝  Maruti Suzuki Smart Finance achieves 1 million car loans milestone
📝  Maruti Suzuki Smart Finance achieves 1 million car loans milestone
Read More >>

📖 Magazines News

📝  Mahindra order backlog currently stands at over 2.8 lakh SUVs
📝  Hyundai Creta, Alcazar Adventure editions teased
📝  Maruti Suzuki Alto crosses 45 lakh sales milestone
📝  SAIC announces global partnership with Audi to develop EVs
📝  Tata Tiago, Tigor CNG with twin-cylinder tanks launched
📝  Tata Punch CNG launched at Rs 7.10 lakh
📝  Mahindra Bolero Neo+ launch by September 2023
📝  Electric vehicles core to our future, says Royal Enfield’s Siddhartha Lal
📝  “Not worried about competitors, we’re ahead of them”: Royal Enfield MD Lal
📝  Tata Group likely to procure battery from global supplier Envision AESC
Read More >>

📰 International News

📝  Tesla faces California class action on its EV range claims
📝  Nikola gets required shareholder votes for share increase proposal
📝  US should extend EV tax benefits to Vietnam, says business lobby
📝  Fisker cuts output forecast on lingering supply chain woes; loss narrows
📝  Magna lifts annual forecasts as results beat estimates on parts demand
📝  Oil India is now Maharatna, OVL is Navratna
📝  Auto parts maker Vimercati to open USD 200 mn plant in Mexico, says state governor
📝  London's mayor widens car scrappage incentives to calm clean air zone outcry
📝  Russian car sales rebound in July as Putin touts domestic vehicles
📝  Toyota, Pony.Ai to set up robotaxi JV with USD 139 mln investment
📝  BMW closes in on EV target but 'too soon' to call end of combustion engines
📝  Cummins misses profit expectations on high manufacturing costs
📝  GM's Cruise says it's reached the robotaxi industry's first union agreements
📝  Fisker unveils electric pickup truck even as supply chain bottleneck lingers
📝  France to grant 1.5 bn euros for Taiwanese EV battery factory
📝  Hyundai, Kia recall 91,000 vehicles in US over damaged electrical component
📝  GM vows to boost jobs next year despite EV shift
Read More >>


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