KPIT, a leading partner for developing software-defined vehicles, reported its net profit growing by 41.79 percent to Rs 85.43 crore during Q1FY23 as against Rs 60.25 crore during the corresponding period of Q1FY22 and 6 percent on sequential basis to Rs 80.5 during Q4FY22 led by growth in electric powertrain, architecture and middleware domains. According to Kishor Patil,… Continue reading Electric powertrain growth power KPIT’s Q1 profit
Author: Autocar_Professional India Online News
EV share in auto parts to be 9-11% by FY2027: CRISIL
The automotive component manufacturing industry will be the beneficiary of growing demand for electric vehicles in India. Recent FADA retail sales data reveals that cumulative EV sales across four segments – cars, two- and three-wheelers and commercial vehicles – soared by an estimated 686% to 211,398 units in the April-June 2022 period (Q1 FY2022: 26,833… Continue reading EV share in auto parts to be 9-11% by FY2027: CRISIL
Volvo India launches 414km-range XC40 Recharge at Rs 55.90 lakh
Volvo Car India today launched its pure electric XC40 Recharge SUV, which will be the first locally assembled luxury electric vehicle in India. Priced at Rs 55.90 lakh (ex-showroom), it is Rs 11.40 lakh more expensive than its petrol-engined sibling. The Volvo XC40 Recharge gets a 78kWh battery capable of 150kW DC fast charging that… Continue reading Volvo India launches 414km-range XC40 Recharge at Rs 55.90 lakh
Bajaj Auto Q1 profit up 11 percent on better margins
Bajaj Auto has posted Q1FY23 standalone profit of Rs 1,173 crore, up 11 percent YoY from Q1FY22 profit of Rs 1,061 crore. The Q1 revenues from operations rose 8 percent YoY to Rs 8,005 crore compared to Rs 7,386 crore in the same quarter last year. On a sequential basis, the revenue from operations was flat compared… Continue reading Bajaj Auto Q1 profit up 11 percent on better margins
Eaton is bullish on e-mobility
Eaton, the New York Stock Exchange listed intelligent power management company expects its e-mobility business to become the new DNA going forward while co-existing with its current vehicle business. Shailendra Shukla, Managing Director, Vehicle Group, Eaton India told Autocar Professional that e-mobility is being treated with separate focus at product and other levels by virtue of the apparent shift in demand towards it. “We… Continue reading Eaton is bullish on e-mobility
Group Landmark’s VW dealerships enter records books
Group Landmark-owned Volkswagen dealerships in Gujarat has etched its name in the Asia Book of Records (ABR) and India Book of Records (IBR) for ‘maximum single model Volkswagen vehicles sold by a dealer in a single day’. Landmark Group in a statement noted that deliveries of the new Volkswagen Virtus across India commenced last month.… Continue reading Group Landmark’s VW dealerships enter records books
Audi India opens pre-owned car facility in Coimbatore
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EV funding in the fast lane
EV sales are picking up at a fast and a furious pace and if there is another aspect of EVs that’s able to keep track, it is no doubt the investment in EVs. While retail sales of EVs hit their highest in FY2022 and just Q1 sales of FY23 account for 49 percent of FY22’s… Continue reading EV funding in the fast lane
Okinawa targets EV demand in Maharashtra, to open showroom in Navi Mumbai
Electric scooter manufacturer Okinawa Autotech is expanding its retail footprint in Maharashtra, a state which is seeing growing adoption of electric vehicles. The company, which has a range of high- and low-speed e-scooters, set to inaugurate a new Galaxy showroom in Nerul, Navi Mumbai. In what is now a trend, particularly among two-wheeler EV OEMs,… Continue reading Okinawa targets EV demand in Maharashtra, to open showroom in Navi Mumbai
Tata Motors in tie-up with Indian Bank for car loans
Tata Motors has announced that it has entered into a partnership with Indian Bank to facilitate financing for its passenger vehicle customers. This strategic partnership aims to provide customised loans from across over 5,700 branches of Indian Bank across India, the company said in a statement. As per a press note, the financing will be available at… Continue reading Tata Motors in tie-up with Indian Bank for car loans