India’s passenger vehicle industry is set to lose 500,000-600,000 units in production and more than $5 billion in revenue this fiscal year due to the global shortage of semiconductors, say industry executives.
Tag: passenger vehicle
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Chip shortage may reduce India’s auto volume growth: Crisil
The ongoing chip shortage is likely to moderate passenger vehicle sales growth to 11-13% this fiscal, down from the earlier volume growth forecast of 16-17 per cent, delaying the industry recovery as the waiting period is increasing amid strong demand due to production curbs, says a Crisil report.
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India’s automotive electronics market to cross $18 bn by 2027: Report
Automotive electronics sales will triple, driven by rising income levels and increasing customer preference for in-vehicle digital experience. Telematics penetration remains low compared to global standards.
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Tata Motors launches XPRES brand for fleet customers
Tata Motors has announced the launch of a new brand ‘XPRES’ for its fleet customers. Under this, the company will introduce offering related to fleet-specific needs of safety, passenger comfort, and low ownership cost.
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FADA: Demand for passenger vehicles beneficial for auto industry
According to the data generated by FADA, the auto industry is back in recovery mode after experiencing troubling times in the month of April and May.
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Skoda Auto’s Kushaq SUV launched in India starting at Rs 10.49 lakh
Kushaq SUV will compete with cars in the mid-size SUV segment like Hyundai Creta and Kia Seltos. Kushaq is available with only petrol powertrain option and not the usual petrol and diesel engines.
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Volkswagen to get $351 million for Dieselgate settlement
Volkswagen reported that it will be receiving $351 million as compensation as part of its settlement terms with former executives for the dieselgate scandal.
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Kia lines up new models to attain long-term growth in India
The company also plans to upgrade sales networks and increase production in the country. It intends to introduce a new MPV early next year after India recovers from the second wave of COVID-19 impact.
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Hyundai suspends production at Sonata-making unit due to parts shortage
Hyundai is planning to suspend production in its Asan plant for two days next week, owing to the lack of electronic parts. The company had already suspended operations on Monday and Tuesday last week.
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Coronavirus disrupts forging and auto component industries in India
The Association of Indian Forging Industry (AIFI), the apex body of the Indian Forging Industry, has observed that the disruption caused by the Coronavirus (Covid-19) has hit the automotive industry and thus also affected the automotive component and forging industries.