PVs (passenger vehicles) continue to witness healthy recovery, whereas two-wheelers and CVs (commercial vehicles) are subdued New Delhi: Automobile demand recovery has been weaker than expected post the lifting of second lockdown in June 2021, said Motilal Oswal Financial Services Limited (MOFSL). Accordingly, while PVs (passenger vehicles) continue to witness healthy recovery, whereas two-wheelers and… Continue reading Auto demand recovery weaker than expected: MOFSL
Author: Economic Times of India Online News
Dollar softens for fourth straight day after US payrolls miss
The dollar has been subdued on uncertainty over the path of Fed policy. NEW YORK: The dollar fell for a fourth straight day against a basket of other major currencies on Friday after a much weaker than expected US payrolls report that is likely to keep the Federal Reserve at bay in scaling back its… Continue reading Dollar softens for fourth straight day after US payrolls miss
Mexico adopts firm stance on auto dispute ahead of U.S. talks
MEXICO CITY – Mexico expects the United States to comply with automotive rules in the new North American trade pact, a senior official said, taking a firm line ahead of high-level talks next week clouded by a dispute over the future of the car industry in the region. Mexico and Canada have been at odds… Continue reading Mexico adopts firm stance on auto dispute ahead of U.S. talks
India revamps incentives for autos to boost EVs, hydrogen fuel cells -sources
This is a significant shift from the government’s original plan to incentivise auto and auto part maker to build mainly gasoline vehicles and their components for domestic sale and export, with some added benefit for electric vehicles (EVs). By Aditi Shah NEW DELHI: India has revised its proposed $8 billion scheme for the auto sector… Continue reading India revamps incentives for autos to boost EVs, hydrogen fuel cells -sources
Porsche to open Malaysia factory, first outside Europe
The manufacturing site in the northern state of Kedah will carry out final assembly of specific models for the local market, the company and Malaysian officials said. Kuala Lumpur: German luxury carmaker Porsche will open its first factory outside Europe next year in Malaysia, officials said Friday, seeking to meet strong demand in the Southeast… Continue reading Porsche to open Malaysia factory, first outside Europe
Mahindra Electric gives up office space in Bangalore, moves sales & marketing team to Mumbai
Mahindra’s EV business is clearly at an inflection point, with EV passenger vehicle sales down to a trickle. Mahindra Electric (ME), the electric arm of Mahindra & Mahindra has in a quiet move, given up space in its corporate office in Bengaluru. Informed sources told ET that the company had given up a floor of… Continue reading Mahindra Electric gives up office space in Bangalore, moves sales & marketing team to Mumbai
Solution for shipping containers crunch within a week, assures Commerce Secretary Subrahmanyam
New Delhi: Commerce Secretary BVR Subrahmanyam on Thursday assured that the Central government will come up with a solution to the ongoing shipping container crunch within a week and said the government is working for short term solution. Commerce Secretary further said that a long term solution will require the production of containers to increase,… Continue reading Solution for shipping containers crunch within a week, assures Commerce Secretary Subrahmanyam
GM,Ford halt some production as chip shortage worsens
Ford will stop making pickups at its Kansas City Assembly Plant for the next two weeks. Shifts will be cut at two more truck plants in Dearborn, Michigan, and Louisville, Kentucky. DETROIT :The global shortage of computer chips is getting worse, forcing automakers to temporarily close factories including those that build popular pickup trucks. General… Continue reading GM,Ford halt some production as chip shortage worsens
Daimler sees Q3 hit to Mercedes sales from chip shortage
The auto industry is facing renewed strains after a recovery in demand stretched supply chains earlier this year, with COVID-19 outbreaks in Asia hitting both chip production and operations at commercial ports. BERLIN: German luxury carmaker Daimler expects significantly lower sales at its Mercedes unit in the third quarter compared to the previous one due… Continue reading Daimler sees Q3 hit to Mercedes sales from chip shortage
How the Chinese tycoon driving Volvo plans to tackle Tesla
The businessman, Li Shufu, had a company with less than half Volvo’s sales and a flagship model, King Kong, almost unknown outside China. He was politely shown the door of the “Glass House,” Ford’s iconic headquarters near Detroit, according to two people who were at the meeting. Ford’s Leclair did not respond to requests for… Continue reading How the Chinese tycoon driving Volvo plans to tackle Tesla