Excluding motor vehicle and parts, retail sales were up 0.4% from June, said the Commerce Department. Retail sales in the United States soared past analyst expectations in July, according to government data released Thursday, helped by the autos segment and bringing some relief to policymakers. US consumption has remained resilient despite high interest rates, and… Continue reading US retail sales beat expectations on autos boost
Author: Economic Times of India Online News
Stellantis shareholders sue automaker in US after disappointing earnings
Last week, Stellantis announced a potential 2,450 layoffs at a suburban Detroit truck assembly plant, where production of the Ram 1500 Classic truck is ending. Stellantis has been sued by shareholders in the United States who said the European-American automaker defrauded them by concealing rising inventories and other weakness, before posting disappointing earnings that caused… Continue reading Stellantis shareholders sue automaker in US after disappointing earnings
Shriram Finance in talks with climate-based funds to raise capital for EV financing
He expects the EV lending portfolio to be INR 5000 crore over the next two to three years. Shriram Finance, the country’s largest auto-focused, non-bank lender, has begun an initial round of discussions with climate focused private equity funds to raise capital for financing electric vehicles. Currently, the share of EVs in the INR 2.33… Continue reading Shriram Finance in talks with climate-based funds to raise capital for EV financing
UAW union launches pro-Harris campaign to mobilize workers across US
On Tuesday, the UAW filed complaints with the National Labor Relations Board against Trump and Tesla CEO Elon Musk citing attempts to threaten and intimidate workers. The United Auto Workers is launching a U.S-wide effort to mobilize its one million active and retired workers to vote for Kamala Harris in the Nov. 5 election, it… Continue reading UAW union launches pro-Harris campaign to mobilize workers across US
EVs gain momentum in India, market to reach USD 250 bn by 2030
This growth is anchored in both passenger and commercial vehicles, including two-wheelers and four-wheelers. India’s electric mobility sector is set to transform into a USD 250 billion market by 2030, driven by substantial investments in sustainable transportation. The ELECTRIFY30 report by Praxis Global Alliance forecasts a significant rise in electric vehicle (EV) adoption across various… Continue reading EVs gain momentum in India, market to reach USD 250 bn by 2030
As India celebrates 77 years of freedom, her automakers have cause for cheer too
However, what is really gratifying that it is an Indian company — Tata Motors — which is truly leading the way in electrification of cars. New Delhi: Way back in 1947, a battered and bruised India was still recovering from the traumatic aftermath of Partition. Today, two-thirds of her population is under the age of… Continue reading As India celebrates 77 years of freedom, her automakers have cause for cheer too
Metalman Auto DRHP filing with SEBI: All you need to know
The equity shares offered through the Red Herring Prospectus are proposed to be listed on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). New Delhi: Metalman Auto Limited has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company aims to… Continue reading Metalman Auto DRHP filing with SEBI: All you need to know
Texas sues GM for allegedly violating drivers’ privacy
The technology was allegedly installed on most GM vehicles starting with the 2015 model year. General Motors has been sued by the state of Texas, which accused the automaker of installing technology on more than 14 million vehicles to collect data about drivers, which it then sold to insurers and other companies without drivers’ consent.… Continue reading Texas sues GM for allegedly violating drivers’ privacy
Domestic PV sales dip 2.5% to 3.41 lakh units in July, says SIAM
Three-wheeler wholesales also showed an upward trend, rising by 5.1% to 59,073 units Y-o-Y, up from 56,204 units in July last year. Passenger vehicle wholesales in India saw a 2.5% decline year-on-year to 3,41,510 units in July, according to the Society of Indian Automobile Manufacturers (SIAM). The overall passenger vehicle dispatches from companies to dealers… Continue reading Domestic PV sales dip 2.5% to 3.41 lakh units in July, says SIAM
Six Sense Mobility raises seed round from Piper Serica VC
Six Sense Mobility is positioned to contribute significantly to India’s evolving mobility and transportation sector, aligning with the government’s implementation of new technologies. Smart mobility company Six Sense Mobility has successfully raised INR 6 crore in a seed round from Piper Serica VC, an angel investment firm in Mumbai. Previously, the company had received funding… Continue reading Six Sense Mobility raises seed round from Piper Serica VC