Browsing: Market Updates

Kubota Escorts, the renowned tractor manufacturer, has revealed an ambitious plan to establish a state-of-the-art greenfield manufacturing facility in Uttar Pradesh. This development marks a significant expansion of the company’s production capabilities, aligning with its future growth objectives.

Toyota Motor North America (TMNA) announced executive leadership changes as David Wilson, group vice president and president of TRD, U.S.A. (Toyota Racing Development), will retire on December 16 after 35 years with the organization. General Manager Tyler Gibbs will succeed Wilson as president of TRD, a subsidiary of Toyota Motor North America (TMNA).

Maruti Suzuki India Limited, India’s leading automobile manufacturing company, today commenced export of its ‘Made-in-India’ SUV Fronx to Japan. Fronx will be the first SUV from Maruti Suzuki to launch in Japan. The landmark milestone celebrates the spirit of ‘Make in India’ initiative and echoes national pride.

For nearly seven years, the teams have collaborated on research to make driving safer. The experiments automate a motorsports maneuver called “drifting,” where a driver precisely controls a vehicle’s direction after breaking traction by spinning the rear tires—a skill transferable to recovering from a slide on snow or ice. By adding a second car drifting in tandem, the teams have now more closely simulated dynamic conditions where cars must respond quickly to other vehicles, pedestrians, and cyclists.  

Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands ‘Joy e-bike’ and ‘Joy e-rik’, today announced its financial results for Q1 of FY’25 (April-June 2024). 

BMW Motorrad India has launched its first electric offering – the all-new BMW CE 04 – India’s first premium electric scooter. The urban electric scooter will be available as a Completely Built-up Unit (CBU) in select metropolitan cities in India. Deliveries will commence from September 2024.

The Automotive Component Manufacturers Association of India (ACMA), the apex body representing India’s Auto Component manufacturing industry today announced the findings of its Industry Performance Review for the fiscal year 2023-24. The turnover of the automotive component industry stood at Rs. 6.14 lakh crore (USD 74.1 billion) for the period April 2023 to March 2024, registering a growth of 9.8% over the previous year.

Invers enables car sharing operators to launch and operate fleets at scale with integrated hardware and  software solutions. As the inventor of automated vehicle sharing, Invers is developing and reliably  maintaining the fundamental building blocks to offer its customers cost-efficient and easily  implementable technical solutions. 

Norton Motorcycles, under TVS Motor Company’s ownership, is gearing up for global expansion with a significant investment of £200 million. This investment will fund new product development, state-of-the-art facilities, and research, marking a new phase for Norton. The company plans to introduce six new models over the next three years, with a focus on the USA, Germany, France, Italy, and India.

YS Chakravarti, MD & CEO of Shriram Finance Ltd. speaking about the June 2024 Mobility Bulletin said, “With the new government in place and with monsoon rain expected to gain strength, businesses are hopeful that policy action from the government will help push economic activity into a higher orbit. The slowdown across sectors including road transport, vehicle sales appears temporary.”