Mahindra & Mahindra (M&M) and Skoda Auto Volkswagen India (SAVWIPL), the Volkswagen Group’s wholly owned India subsidiary, are in advanced stages of forming a 50:50 joint venture to share costs, technology and vehicle platforms for future product development. While the scope of the JV will also include fossil fuel-based models, it will largely focus on … Read more
Maruti Suzuki, Hyundai Motor India and Toyota Kirloskar Motor are among automakers gearing up to introduce more than half a dozen seven-seater utility vehicles over the next year to capitalise on surging demand for larger passenger vehicles, with buyers opting to travel more with families since the pandemic. While first of the block will be … Read more
Mumbai: Sluggish sales and high dealer inventory have not stopped carmakers from gearing up for a major product offensive in the upcoming festival season. As many as 20 new passenger vehicle models – including 12 entirely new offerings – are set to hit Indian roads by October end, with automakers pinning their hopes on the … Read more
India’s top three carmakers by sales, on Thursday, reported a drop in car sales to domestic dealers in July as pent-up demand from last year began to taper off. Hyundai Motor India’s sales to dealers dropped 3.3% in July, the first decline in the fiscal year that started in April. Tata Motors’ sales slid by … Read more
Srikumar Krishnamurthy, Vice President & Co-Group Head, Corporate Ratings, ICRA, says the recovery or the bounce back post-COVID was pretty significant in the PV segment in particular and even compared to the global markets, we were outgrowing. There is some amount of elevated base that has crept in. So, factors like the pent-up demand and … Read more
Amid weakening demand and rising inventory, leading automakers Tata Motors and Mahindra & Mahindra (M&M) on Tuesday announced heavy discount on purchase of their select and popular SUVs. Mahindra XUV700 approaches its three-year anniversary in the Indian market, M&M has announced celebratory discounts of over Rs 2 lakh on its range-topping AX7 variants for the … Read more
Tata Motors Ltd. and Mahindra & Mahindra Ltd. are closing in on Hyundai Motor Co.’s No. 2 position in India, putting pressure on the South Korean automaker just as it prepares for a record $3.5 billion listing of its local unit. While Hyundai has long wrestled with Tata Motors for the second spot, Mahindra — … Read more
Passenger vehicle sales in India stayed in the slow lane for the third straight month in June mainly due to a high base and easing of post-pandemic pent-up demand. June sales rose 3.7% from a year earlier but fell marginally from May. As per industry estimates, 340,784 cars, sedans and utility vehicles were sold last … Read more
MUMBAI: Passenger vehicle sales are projected to grow at a moderate 3-5 per cent this financial year on account of a high-base effect of FY24, shrinking order book and subdued demand for entry-level variants, a report said on Monday. According to the report by credit ratings agency CareEdge, following robust growth of 90 per cent … Read more
The Indian unit of Korea’s Hyundai Motor is likely to file a draft red herring prospectus (DRHP) with market regulator Sebi over the next two weeks, initiating the process for an initial public offering, said people familiar with the matter.If successful, this would mark the first IPO by an automaker in India in more than … Read more
