Tata Motors on Tuesday said TML Securities Trust, has sold 1.14 crore new ordinary shares (NOS) on the exchanges today for distribution of fractional share entitlement as well as towards tax liabilities. Earlier, the auto major received clearance from the National Company Law Tribunal (NCLT) for its scheme of arrangement which involves reducing share capital … Read more
Mahindra & Mahindra, which leads India’s pick-up truck market with a 51% share, is looking to enter Southeast Asia and step up presence in South Africa with its latest Veero range. “We have been selling the Scorpio pick-ups in several markets including mature markets like South Africa. The Veero will give us access to many … Read more
Mumbai: The Indian car market’s adoption of alternative fuels continues to be driven by CNG-run vehicles. Hybrids, too, are outpacing electric vehicles in the country at a time when the global EV market shows signs of stagnation. Sales of CNG cars grew 46% year on year during January-August followed by hybrids at 19% while electric … Read more
Micro SUVs are gaining traction in India, becoming a bright spot for the domestic car industry battling a sales slowdown this year. The rush for such small SUVs underscores a broader shift towards SUVs from traditional cars in the world’s third-largest automobile market. Sales of small SUVs such as Hyundai Motor India’s Exter and Tata … Read more
Ford on Friday said it has submitted a Letter of Intent (LOI) to the Government of Tamil Nadu outlining the company’s intention to utilise its Chennai plant for manufacturing for export. “The decision follows multiple meetings with the Tamil Nadu Government, including one I had last week with the Honorable Chief Minister of the Government … Read more
Carmakers are offering deeper discounts in a desperate push to entice buyers and clear inventory as sales remain sluggish. Starting this month, the level of discounts has risen to 12-14% of the average selling price (ASP) of a vehicle from 10-12% in August. For some models, total discounts offered are well over ₹3 lakh which … Read more
Good morning! It’s Wednesday, September 11, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Karen Fukuhara Is A Very Happy Jeep Owner 1st Gear: Harris, Trump Battle Over Auto Industry On September … Read more
Expanding portfolio in country, Maruti Suzuki on Thursday launched S-CNG variant of its popular Swift with fuel-efficiency of 32.85 km/kg# at an ex-showroom price of Rs 8.19 lakh, said company’s press release. With the new launch, the company is expecting to cements its position as India’s most fuel-efficient premium hatchback in its segment. “With the … Read more
JSW MG Motor India, the recently formed joint venture between MG Motor and Sajjan Jindal-promoted JSW Group, is looking at moving away from conventional internal combustion engine petrol and diesel vehicles and focus on new energy vehicles for the future, Parth Jindal, Director, JSW MG Motor India said. The company, which launched cross-over utility vehicle … Read more
Investors have only little doubt on Persistent System’s (PSYS) growth momentum, a sentiment which is also echoed by domestic brokerage firm JM Financial as they have a target price of Rs 6,030 on the stock, signaling an upside potential of 13.4%. The strength of PSYS’ recent deal wins is so robust that simply maintaining current … Read more
