Automobile / The Economic Times
Indian Army Chief General Upendra Dwivedi addressed the Indian Air Force Commanders' Conference, emphasizing the importance of modernization and jointness for a future-ready force. He highlighted the success of the 'Sanyukt Vimochan 2024' exercise, showcasing India's disaster response capabilities and collaboration with international partners.
The Nifty Auto index was trading 0.02 per cent at 22918.50.
Volkswagen Group, eyeing India's growth potential, plans to expand its product portfolio with or without a local partner, says Piyush Arora, MD & CEO, Skoda Auto Volkswagen India. Despite exploring collaborations, the group remains committed to the Indian market and aims to achieve over 5% market share by leveraging local manufacturing for both domestic sales and exports to regions like South Asia and Africa.
The funeral of 10 Kuki-Zo youths killed in an alleged gunfight with security forces in Manipur has been postponed. The Indigenous Tribal Leaders' Forum is demanding the release of post-mortem reports before proceeding with the burial. The incident has heightened tensions in the state, which has been grappling with ethnic violence.
India's festive season saw a 12% surge in auto sales compared to last year, driven by strong rural demand for two-wheelers. Despite heavy rains impacting sales in some regions, dealers sold 4.3 million units, falling slightly short of the 4.5 million target.
The Stellar Blade x Nier Automata DLC releases worldwide on November 20, 2024. It features a collaboration bringing new items and outfits from both games.
A Bengaluru woman shared a recent auto ride experience. She felt a presence behind her and was initially scared. It turned out to be the driver's sleeping child. This incident, along with another user's shared experience, emphasized the need to avoid hasty judgments. These stories serve as reminders to approach situations with a clear and unbiased perspective.
Ten tribal organizations in Manipur, including the ITLF, are urging people to boycott the upcoming Autonomous District Council (ADC) elections. They argue that holding elections amidst ethnic violence is manipulative and that the HAC's resolution to do so lacks Kuki-Zo representation. These groups see the elections as a tactic to undermine their pursuit of separate administration.
Former One Direction singer Liam Payne died last month in Buenos Aires. He was 31. Payne died from injuries sustained during a fall from a hotel balcony. Authorities ruled out suicide. A toxicology report revealed multiple substances in Payne's system. Three individuals are facing charges related to his death. The investigation is ongoing.
The Delhi government is planning to implement an AI-powered traffic violation detection system. The government will partner with a private company to install ANPR cameras at 500 traffic junctions. The cameras will detect various violations, including speeding, signal jumping, and lane violations. The system will use an e-challan system for penalties.
Indian exporters may face higher tariffs on goods like textiles and pharmaceuticals as Donald Trump's 'America First' agenda prioritizes protectionist measures. While this could negatively impact key Indian exports, a tougher stance on China might open new opportunities.
Schaeffler, a German auto parts manufacturer, announced 4,700 layoffs across Europe, primarily in Germany, citing a challenging market environment and the shift to electric vehicles. The company's operating profit fell nearly in half in the third quarter, reflecting struggles in the European auto industry with high costs, falling demand, and competition from China.
Bajaj Automobiles' domestic two-wheeler sales decreased by 8 per cent in October compared to last year. However, the company's overall two-wheeler sales rose by 2 per cent due to strong exports, which grew by 22 per cent. Domestic commercial vehicle sales also saw a decline. The overall performance was balanced by the robust export growth.
Japan's Mitsubishi Corporation and Nissan Motor Co. have decided to create a joint venture, according to the Yomiuri newspaper. This new company will focus on providing services related to autonomous driving and using electric vehicle batteries as storage batteries.
Sean Diddy Combs is being lodged in jail on alleged charges of sex trafficking and sex racketeering and is currently awaiting trial. In a recent development it is being known that another famous celebrity, Jennifer Lopez left an autograph signing session pretty abruptly when she was asked questions about Sean Diddy Combs.
Geopolitical tensions will challenge the energy sector, but consumer goods, automotive, and healthcare sectors are expected to grow in 2025. Fossil fuel markets face risks, while renewable energy investments remain strong. Financial sector sees mixed outlook with regulatory easing. Retail volumes will grow, stricter online retail regulations will be enforced, and the automotive sector will see record new-vehicle sales.
The second phase of the Xiaomi Intelligent Manufacturing Industrial Base is scheduled to be completed on June 15, according to a report by the National Business Daily citing a person familiar with the project.
An autorickshaw driver in Bengaluru, Ajmal Sultan, created a pamphlet to help passengers learn basic Kannada phrases during their ride. The pamphlet went viral after being shared on social media, gaining praise for its creative solution to language barriers. It also includes a QR code for pronunciation demos.
In the first six months of the current fiscal year, India's automobile exports increased by 14 per cent year-on-year. This growth was driven by higher shipments of passenger vehicles and two-wheelers. Key markets like Latin America and Africa have contributed to the rebound. Passenger vehicle exports rose 12 per cent, while two-wheeler exports increased 16 per cent.
CCPA has ordered Ola to let customers choose between a bank account refund and a ride coupon. Providing only a coupon was deemed unfair. Ola must now offer invoices for auto rides. The changes include improved grievance redressal, clear cancellation policies, fare breakdowns, proper driver instructions, and prompt payment to drivers.
Tesla CEO Elon Musk unveiled the new robotaxi called Cybercab, an AI-powered vehicle without steering wheels or pedals. Musk projected availability by 2026, despite concerns over the reliability of Tesla's Full Self-Driving technology. Competitors like Waymo and Cruise are already deploying similar autonomous vehicles, adding pressure on Tesla.
Stellantis announced CEO Carlos Tavares will retire in 2026 and revealed changes to its senior management to counter competitive pressures and improve US operations. Doug Ostermann takes over as CFO, replacing Natalie Knight. A headhunt for Tavares's replacement is already in progress, concluding by late 2025.
Experts from AIIMS Kalyani conducted an autopsy on the minor girl who was raped and murdered in Jaynagar. The post-mortem was ordered by the Calcutta High Court, with videography and the parents virtual presence. Villagers and BJP workers continue protesting for justice. Union Minister Majumdar urges central intervention for safety in the area.
The Calcutta High Court directed a post-mortem at AIIMS Hospital in Kalyani for a minor allegedly raped and murdered in South 24 Parganas. The autopsy must involve an AIIMS expert and be videographed, with the victim's parents virtually present. A judicial magistrate from Baruipur is also to be present.
The ongoing strike at 14 major ports in the US is causing significant delays in unloading and processing shipments from India. This impacts goods like textiles, pharmaceuticals, and auto parts. The strike could lead to higher costs and longer transit times for Indian exporters who are already facing challenges. The backlog is expected to increase further.
A video of a woman dancing with a group while stuck in Bengaluru traffic is gaining attention on social media, amassing 1.4 million views. Encouraged by a friend, she joined the street dancers spontaneously, delighting onlookers. The video, shared by Sharanya Mohan, showcases Bengaluru's unique and heartwarming spirit, earning widespread praise for the carefree act.
A manager discovered a flaw in his company's applicant tracking system, which was automatically rejecting all job candidates, including his own test application. This led to the firing of half the HR department. The issue stemmed from a filter error that dismissed candidates lacking outdated AngularJS skills instead of the required Angular expertise.
A Bengaluru auto driver has gone viral for using an office swivel chair as his driver's seat. Another driver also gained attention for presenting a QR code via his smartwatch for contactless payments. The post, shared on social media platform X, received over 27,000 likes and was acknowledged by minister Ashwini Vaishnaw.
India is emphasizing strict 'Rules of Origin' in FTA talks with the UK to protect its automobile sector. Commerce Secretary Sunil Barthwal stated that these rules should not negatively impact Indian automakers. The government also aims to maintain the benefits of its production linked incentive scheme during these negotiations.
A PIL has been filed in the Supreme Court seeking the establishment of an autonomous body to monitor and regulate content on OTT platforms in India. The plea highlights concerns over unregulated content, citing a Netflix series as an example. The petitioners urge the creation of a board to ensure proper oversight.
Prime Minister Narendra Modi has urged the automotive industry to adopt global best practices and focus on green and clean mobility. Addressing the Society of Indian Automobile Manufacturers, he emphasized the sector's role in driving economic growth and sustainable development, while highlighting India's progress in creating future-ready infrastructure.
The Indian automotive industry has surpassed Rs 20 lakh crore in FY24, contributing 14-15 per cent of the total GST collected. The sector is also a major source of employment and aims to reduce import dependence by increasing local production of critical components. The industry is focusing on advanced technologies and cleaner vehicles.
Volkswagen is considering closing some factories in Germany for the first time in its history to meet cost-cutting goals. The company needs to save 10 billion euros by 2026 due to a smaller European car market and high costs. This has caused outrage among workers and concern among politicians.
An Ola autorickshaw driver, R Muthuraj, was arrested by Magadi Road police for slapping and threatening a college student after she cancelled a ride. The incident, captured on video, led to charges under Bharatiya Nyaya Sanhita Sections 74 and 352. Muthuraj faces legal expenses exceeding Rs 30,000 and potential suspension of his driving licence. Authorities emphasize the seriousness of such offenses.
Two college students in Bengaluru faced a distressing incident when an autorickshaw driver, angered by a canceled ride, verbally abused and slapped one of them. The altercation, captured on video, went viral and led to the driver's arrest. Ola has since responded to the incident, calling it alarming.
New vehicle sales in the U.S. are expected to rise by over 4% in August, aided by the Labor Day weekend, resulting in expected sales of 1,437,954 units. Despite this, sales on a seasonally adjusted annualised rate basis are likely to remain flat. Rising discounts and falling transaction prices are contributing factors, while the industry faces challenges from reduced leasing activity three years ago.
At the CII India Africa Business Conclave, Commerce secretary Sunil Barthwal said that the African Continental Free Trade Area (AfCFTA) has identified four potential sectors - automobiles, agriculture and agro-processing, pharmaceutical and transportation and logistics- where the two sides can collaborate.
The RBI announced on Thursday that auto replenishment of balances in FASTag and NCMC, which trigger whenever the balance drops below a customer-defined threshold, will now be covered under the existing e-mandate framework.
Auto unions in Delhi-NCR staged a strike on August 22 and 23, protesting the impact of app-based services like Ola and Uber on their earnings. The unions, involving over 15 major auto and taxi driver groups, urged government action and also raised concerns about alleged smuggling and illegal activities linked to these services.
DNA evidence linked Sanjay Roy to the rape and murder of a trainee doctor at RG Kar Hospital. The autopsy showed the victim had struggled before succumbing to smothering and throttling. Previous rumors about semen traces from multiple individuals and a broken pelvic bone were debunked. The CBI has begun assessing the accused psychologically.
Retail sales in the US surpassed expectations in July, boosted by a rebound in auto sales after a June cyber-attack, reaching $709.7 billion, up 1.0 percent from June. Excluding motor vehicles and parts, sales climbed 0.4 percent. This resilience in consumer spending provides some relief to policymakers despite continued high interest rates.
The autopsy of the woman doctor found dead at RG Kar Medical College revealed multiple injuries and sexual assaults. The report confirmed her death was homicidal and antemortem, with multiple penetrations and extensive injuries. It indicated she was throttled and smothered to death. The Calcutta High Court has transferred the investigation to the CBI. The details underscore the brutality of the crime and suggest involvement by more than one person.
In a hit-and-run incident at Versova beach in Mumbai, an auto-rickshaw driver, Ganesh Yadav, was killed and his friend, Bablu Shrivastava, was injured when an SUV ran over them while they slept. The SUV driver, Nikhil Jawle, and another occupant, Shubham Dongre, fled the scene without aiding the victims.
Last year, the 14 IPEF nations inked a supply chain resilience agreement to reduce dependence on China and shift production of critical sectors and key goods to member countries. The IPEF includes India, Australia, the US, Japan, Fiji, South Korea, New Zealand, Singapore and Thailand, representing 40% of global gross domestic product and 28% of the global trade in goods and services.