(Reuters) – Lucid Group reported second-quarter deliveries above market expectations on Monday, as price cuts helped boost demand for its luxury electric sedans.
Demand for electric vehicles has grown at a slower-than-expected pace in the past year, pressured by high borrowing costs, economic uncertainties and consumer preference for hybrid alternatives. Continue reading “EV maker Lucid beats quarterly deliveries estimates helped by price cuts”
(Reuters) – A group of Hyundai Motor dealers has sued the South Korean automobile giant in Chicago federal court for allegedly inflating sales numbers for electric vehicles while punishing franchises that would not participate in the ruse.
The lawsuit, filed on Friday by Napleton Aurora Imports in Illinois and affiliated franchises, said Hyundai Motor America Corp (HMA) pressured dealers to misuse inventory codes meant for “loaner” vehicles to exaggerate their sales figures. Continue reading “Lawsuit accuses Hyundai of faking US sales data for electric cars”
Source : PTI | New Delhi: German luxury carmaker Mercedes-Benz has reported a 9% growth in its sales in India for the first half (H1) of 2024, reaching 9,262 units, the highest ever for the company in this period. This increase is attributed to strong demand across categories and the availability of volume models. The company’s sales had been 8,528 units in the same period of 2023.
Mercedes-Benz India plans to introduce six new products in the second half of 2024.
Continue reading “Mercedes-Benz India records 9% growth Y-o-Y with 9,262 units sold in H1 FY25”
New Delhi, 8th July 2024: Kia India, one of the fastest-growing premium carmakers in the country, is refreshing its trim line-up for Seltos and Sonet with the introduction of 5 new variants and X-Line in a new avatar. The vehicles now have 21 and 22 variants, respectively, with the addition of 4 GTX variants in Petrol DCT and Diesel AT powertrain and transmission options. Customers now also have the option to buy a Sonet with a turbo petrol engine under 10 Lakh with the introduction of Smartstream G1.0 HTK iMT. Continue reading “Kia refreshes its product line-up, introduces 5 new trims in Seltos and Sonet”
Efficiency is what every OEM strives for and with the advancements in technology and increasing vehicle complexity, it has become essential to ensure operations run smoothly. The competition is rising today and OEMs bring innovative ideas to ensure their operations run without any bottlenecks. To ensure the dealer network is working at the utmost potential, there should be little or no order errors. This makes a dent in customer satisfaction in a major way. Dealers have to order many parts in a day and it becomes essential for them to receive the right parts. A delay in the parts or wrong parts will cause further delays in the repair process or maintenance of the vehicles. Continue reading “Necessity of Spare Parts Catalog Software for OEMs”
Source : PTI | The Department of Consumer Affairs (DoCA) held a meeting with automobile associations and companies on Saturday to encourage their participation in the newly launched Right to Repair Portal India, aimed at empowering consumers with easier access to product repair information. The meeting, chaired by DoCA Secretary Nidhi Khare, focused on addressing consumer concerns about restricted access to repair tools, high costs, and service delays in the automotive sector, an official statement said.
Khare emphasized the need to “democratize repair manuals and videos” and foster a robust ecosystem for third-party repair services. She also suggested introducing a “repairability index” for vehicles to inform consumers about product lifespan and ease of repair. Continue reading “Govt meets auto industry to onboard firms on Right to Repair Portal”
Source : PTI | Electric two-wheeler makerAther Energy is hopeful of increasing its market share as it forays into the family scooter segment, a company official said on Friday. The Bengaluru-based firm has so far been manufacturing sporty scooters.
“The company has now entered the family scooter segment to capture a larger share of the market. Ather Energy’s market share at the moment is around nine% in the sporty scooter segment, which is 14% of the overall market,” Chief Business Officer Ravneet Singh Phokela said. Continue reading “Ather Energy aims to raise market share with foray into family scooter segment”
Source : PTI | Bajaj Auto Managing Director Rajiv Bajaj on Friday suggested that the government review GST rates on vehicles powered by clean fuels. At the launch of the first integrated motorcycle Freedom 125 here, Bajaj also voiced concerns about the use of “unsustainable subsidies” to promote electric vehicles (EVs).
Earlier, he, along with Union Minister for Road Transport and Highways Nitin Gadkari, launched the world’s first CNG-run bike in three variants at a starting price of Rs 95,000 (ex-showroom).
Continue reading “Govt should review GST rates on vehicles powered by clean fuels: Rajiv Bajaj”
Source : PTI | New Delhi: Delhi Transport Minister Kailash Gahlot has directed the department officials to take strict action, including suspension of their licence, against any car dealer if they do not hand over the registration certificate to the private car buyer at the time of purchase of the vehicle. In 2021, the Delhi government had begun the facility of the buyers getting a registration certificate (RC) for their vehicles directly from the dealers. There are dealers that have self-registration facility.
Gahlot has taken cognisance of complaints from private vehicle buyers in Delhi regarding delays in receiving the RC on the same day at the time of purchase, despite a mandate by the Delhi government, an official statement from his office said. Continue reading “Delhi transport minister directs strict action against car dealers over delay in giving RCs”
BRUSSELS, (Reuters) – The European Union has resisted calls from some industries and countries to delay its flagship policy to fight deforestation, a letter seen by Reuters on Friday showed.
The deforestation law will, from Dec. 30, require companies selling soy, beef, coffee, palm oil and other products in the 27-nation bloc to prove their supply chains do not contribute to the destruction of forests. Equally, EU companies will be banned from exporting products cultivated on deforested land. Continue reading “EU resists calls to delay deforestation law, letter shows”
BERLIN, (Reuters) – Germany’s coalition government is set to overhaul the way renewable energy is subsidised so that power producers would get one-off support for their investment costs instead of a guaranteed price for power they produce, a finance ministry document showed on Friday.
A shift to investment subsidies would mark a significant change in Germany’s renewables market and would seek to make the industry less dependent on government support. Continue reading “Germany set to overhaul subsidy regime for renewable energy- document”
China’s EV battery giants CATL and BYD are eyeing the growing market for stationary energy storage.
Here are the numbers behind their energy storage business:
CATL has ranked first globally in terms of battery deliveries for energy storage since 2021 with more than 40% of the global market share, according to its annual report. It counts among its major clients state-owned power companies such as Huaneng as well as top energy storage system manufacturers including Sungrow Power Supply. Continue reading “How China’s EV battery makers stack up in energy storage”
BEIJING, (Reuters) – China’s SAIC Motor will request a hearing from the European Commission on the extra duties it faces, the company said on Friday, as the European Union’s provisional tariffs on made-in-China EVs took effect.
“The European Commission overlooked some of the information and counter-arguments submitted by SAIC during the investigation,” the state-owned automaker said in a statement. Continue reading “China’s SAIC Motor seeks European Commission hearing on EV tariffs”
Summary
BEIJING, (Reuters) – China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect. Continue reading “China steps up pressure with EU brandy probe hearing as EV tariffs begin”
TOKYO, (Reuters) – Toyota Motor did not find any new cases of wrongdoing in the certification applications of its car models beyond the ones it had already reported last month, the Japanese automaker said in a statement on Friday.
The world’s top-selling automaker said it reported its findings to Japan’s transport ministry after completing its investigation into the certification process for all domestic models for the past 10 years. Continue reading “Toyota finds no new wrongdoing in certification investigation”
MILAN, (Reuters) – China’s Chery Auto is starting sales in Italy with a petrol version of its Omoda 5 crossover SUV, priced from 27,900 euros ($30,182), as the automaker assesses its options to expand its manufacturing capacity and sales in Europe.
One of several Chinese companies bringing budget cars to Europe, mostly electric, Chery began European sales in Spain earlier this year. Continue reading “Chery launches 28,000 euro crossover SUV in Italy as it plans Europe expansion”
Source : PTI | Commerce and industry minister Piyush Goyal has directed PESO to formulate template of safety measures to allow petrol pumps to operate in areas with habitation within 30-50 metres. Petroleum and Explosives Safety Organisation (PESO), a subordinate office under DPIIT, plays a pivotal role in administering regulatory frameworks established under the Explosives Act, 1884 and Petroleum Act, 1934.
The minister also announced 80% concession for women entrepreneurs and 50% for MSMEs in licensing fees for licences granted by PESO. Continue reading “PESO to formulate safety norms to allow petrol pumps within 30-50 mtrs of habitation: Piyush Goyal”
(Reuters) – Oil prices for Brent crude hit their highest level since April on Thursday, holding above $87 after data the previous day showed a decline in U.S. inventories.
Brent crude futures were up 21 cents, or 0.2%, at $87.55 a barrel by 1922 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 18 cents at $84.06 in trade thinned by the U.S. Independence Day holiday. Continue reading “Brent crude trades above $87, sets highest levels since April”
INDIA
Automotive Warranty Management – Setbacks, Solutions & Opportunities for OEMs WAF
Volkswagen India announces the start of Autofest, Mega Exchange Carnival 2024 WAF
JSW-MG Motor readies five new cars, to focus more on EVs, hybrid vehicles moneycontrol Continue reading “WAF Auto News | The Auto World This Week (5th July 2024)”
Summary
BRUSSELS, (Reuters) – The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet. Continue reading “China-built EVs hit with duties in biggest EU trade case yet”
Source : PTI | Lithium-ion battery pack manufacturer and recycling company Lohum on Wednesday announced it will invest INR 1,000 crore in the next three years to develop and manufacture manganese-based lithium-ion batteries. Further, the company said it has roped in Tesla veteran Chaitanya Sharma to help in the new project.
Sharma has worked at two of North America’s first gigafactories, Tesla and IM3NY, leading the latter as its CEO.
Continue reading “Lohum to invest INR 1,000 cr in manganese-based battery production”
Source : PTI | New Delhi: Vedanta group firm Hindustan Zinc on Wednesday said it is committed to partner with the country’s auto companies to “unlock zinc potential” and drive India’s mobility. Zinc’s usage in the automotive sector, through galvanised steel, offers significant fuel and emission savings by providing high degree of corrosion resistance to lightweight steel bodies, ensuring durable, long-lasting vehicles with longer anti-perforation warranty against corrosion.
“Our zinc solutions are not only cost-effective and adaptable for complex designs but also environmentally responsible, making zinc a key material for a cleaner and more sustainable tomorrow,” Hindustan Zinc CEO Arun Misra was quoted as saying in a statement. Continue reading “Hindustan Zinc committed to partner with India’s auto firms: CEO”
“Technology is not just a tool; it is the foundation of modern customer experience.” – Brian Chesky, Co-Founder of Airbnb
The prowess of technology in building credibility among customers is simply unmatched. It is the ultimate gateway for thriving companies to optimize their market outreach and obtain efficiency in operations. From product evolution to service expansion, a tech suite can enhance many aspects of business growth.
However, it plays the most pivotal role in streamlining complex internal processes which is why leading automotive enterprises are starting to digitize their operations, including the process of warranty management. From spare part identification and defect analysis to warranty approval, everything can be managed using software applications. Continue reading “Automotive Warranty Management – Setbacks, Solutions & Opportunities for OEMs”
Mumbai: Volkswagen Passenger Cars India announced the commencement of its Autofest Mega Exchange Carnival 2024 that offers customers a chance to upgrade to a new Volkswagen car with exciting benefits and deals available from 3rd July to 20th July 2024. Volkswagen also announced the rebranding of its used car business Das WeltAuto. to ‘Volkswagen Certified Pre-Owned’, in a move that aligns with the Brand’s global positioning. Continue reading “Volkswagen India announces the start of Autofest, Mega Exchange Carnival 2024”
RAYONG, Thailand, (Reuters) – China’s BYD opened an electric vehicle plant in Thailand on Thursday, the automaker’s first factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player.
“Thailand has a clear EV vision and is entering a new era of auto manufacturing,” BYD CEO and President Wang Chuanfu said at the opening ceremony. “We will bring technology from China to Thailand.” Continue reading “China’s BYD opens EV factory in Thailand, first in Southeast Asia”
COPENHAGEN, (Reuters) – Volvo Cars’ sales in June rose 8% to 71,514 cars from a year earlier, underpinned by strong performances in Europe and Latin America as well as for its new fully electric model EX30, the Sweden-based automaker said on Thursday.
Volvo Cars, which is majority-owned by China’s Geely Holding, said in a statement that sales of fully electric and plug-in hybrid models were up 41%, and also account for 48% of its global car sales. Continue reading “Volvo Cars’ June sales rise on fully electric model boost”
SHANGHAI, (Reuters) – Tesla’s best-selling Model Y was included in a list of electric and plug-in hybrid models that a local government in China can purchase as a service car, according to the official Chinese media outlet the Paper on Thursday.
It was the first time Tesla’s cars have been made eligible for government purchases in China, the Paper added. Continue reading “Tesla cars for first time on Chinese government purchase list”
BRUSSELS/LONDON, (Reuters) – EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. Continue reading “EU governments hesitant on Chinese EV tariffs as trade spat escalates”
(Reuters) – Ford on Wednesday joined Detroit peer General Motors in reporting slower sales growth for the second quarter as the U.S. auto industry reels from a cyberattack that impaired a key software system used across dealerships.
The outage at CDK in late June, a crucial selling period, took down its dealer management system at more than 15,000 retail locations, becoming the latest roadblock for U.S. automakers recovering from supply-driven challenges. Continue reading “Ford sales growth slows as CDK cyberattack rattles auto industry”
(Reuters) – General Motors will pay a $145.8 million penalty and forfeit credits worth hundreds of millions of dollars after a U.S. government investigation found excess emissions from approximately 5.9 million GM vehicles, government agencies said on Wednesday.
The Environmental Protection Agency said GM has agreed to give up approximately 50 million metric tons in carbon allowances after the multi-year investigation found vehicles from the 2012-2018 model years were emitting more than 10% higher carbon dioxide on average than GM’s initial compliance reports claimed. Continue reading “GM to pay $145.8 million penalty after US finds excess emissions”
LOS ANGELES, (Reuters) – Opponents of California’s ambitious targets for electric car adoption to lower greenhouse gas emissions took their case to the U.S. Supreme Court this week, the latest salvo against the state’s campaign to fight climate change.
Energy companies, corn growers and industry associations have long opposed strong environmental rules in California, for decades the only state with power to request a waiver from the Environmental Protection Agency (EPA) to set its own vehicle emissions regulations that are more stringent than the federal standard. Continue reading “Foes of California’s electric car targets take their case to US Supreme Court”
Source : PTI | New Delhi: Automotive Tyre Manufacturers’ Association on Wednesday said its members are witnessing a ‘severe crunch’ in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of natural rubber (NR), its availability has shrunk, Automotive Tyre Manufacturers Association (ATMA) said, expressing apprehension that some “sections of natural rubber producing interests or trade are withholding the material in anticipation of an increase in the NR prices worsening the availability”.
The “tyre industry has been experiencing tightness in domestic availability of natural rubber for some time. However currently a severe crunch is being witnessed despite the fact that NR prices have touched a multi-year high. The paucity of natural price needs to be addressed at the earliest so that tyre production processes are not disrupted,” ATMA Director General Rajiv Budhraja said in a statement.
Continue reading “Tyre industry facing natural rubber supply crunch, ATMA urges action”
SHANGHAI/BEIJING, (Reuters) – With the clock ticking for the European Commission to impose provisional tariffs on electric vehicles made in China, automakers are bracing for billions of dollars in new costs that analysts expect will slow their European expansion.
The bloc is set to confirm on Thursday extra duties of up to 37.6% aimed to prevent a flood of subsidised China-built EVs into the European market, despite last-ditch efforts to strike a deal. Continue reading “China EV makers brace for tariffs as Beijing, EU engage in talks”
BERLIN, (Reuters) – Germany’s VDA auto association has urged the European Commission to drop its planned tariffs on China-made electric vehicles in a last-ditch effort to influence negotiations ahead of the tariffs which take effect on Thursday.
The association said in a statement on Wednesday the tariffs would hurt European and U.S. carmakers exporting from China and risked retaliation by China with counter-tariffs, which would hit the German industry hard given its high volume of exports to China. Continue reading “German car industry urges EU to drop tariffs on China-made cars”
(Reuters) – The U.S. auto safety regulator on Wednesday closed a recall query covering 420,072 Volkswagen vehicles after the automaker acted to fix a potential fuel leak.
The recall covered certain VW Golf, Jetta and GTI models and the Audi A3 manufactured between 2015 and 2020. It was initially issued in 2016 for a defective suction jet pump inside the fuel tank, which could cause a leak. Continue reading “NHTSA closes recall query into about 420,000 Volkswagen vehicles”
BEIJING, (Reuters) – China’s industry ministry has selected 20 localities, including Beijing and Shanghai, as participants in a pilot programme for application of “vehicle-road-cloud integration” for intelligent connected vehicles.
The country aims to build a unified and shared standard system for “vehicle-road-cloud integration” – aimed at putting smart connected vehicles on the road – by 2026, the ministry said in a statement on Wednesday. Continue reading “China designates pilot areas for ‘vehicle-road-cloud integration’ for smart cars”
BANGKOK, – Thai authorities are investigating BYD’s dealers after a consumer complaint over aggressive discounting in a key international market for the Chinese EV giant that has left some buyers upset with how much they paid for their cars.
The office of the Thai Prime Minister instructed the country’s consumer protection agency to launch the probe. Continue reading “Thailand investigates EV giant BYD’s dealers over unfair discounting complaint”
BRUSSELS, (Reuters) – EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels’ challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.
Germany, whose carmakers made a third of their sales last year in China, wants to stop the tariffs, according to a government source, while France has been among the firmest backers. Continue reading “EU governments waver over Chinese EV tariffs as trade spat escalates”
Source : PTI | EV and energy storage startup Matter Group on Wednesday announced securing USD 35 million in the ongoing Series B funding round led by the US-based problem-solving organisation Helena. The capital will accelerate the company’s efforts in scaling up manufacturing, supply chain, marketing and retail expansion to meet the growing demand for sustainable, high-performance mobility solutions, Matter said in a statement.
The other investors, who participated in this round, include Capital 2B, Japan Airlines, Translink Innovation Fund, Saad Bahwan Investment Management Company (SB Invest) as well as other institutional investors and Family Offices, the EV manufacturer said. Continue reading “Matter Group raises USD 35 mn from US-based Helena, others”
BMW Group India has reported its highest-ever half-yearly car sales, showcasing strong performance in the first half of 2024 (January – June). The company delivered a total of 7,098 cars (BMW and MINI) and 3,614 motorcycles (BMW Motorrad), with BMW alone accounting for 6,734 units and MINI for 364 units. This marks a significant +21% increase in car sales (BMW + MINI) compared to the same period last year.
In the first half of 2024, the company sold 397 units of fully electric BMW and MINI cars. The BMW i7 emerged as the top-selling BMW EV in this period, highlighting the growing interest in sustainable mobility among high-end consumers. Continue reading “BMW Group India Achieves Record Half-Yearly Sales”
