Automotive Industry News - Latest Updates & Headlines
India's automotive component production to reach $145 bn by 2030: NITI Aayog
New Delhi, April 11: The country's automotive component production is set to grow to $145 billion by 2030, with exports tripling from $20 billion to $60 billion, while generating 2-2.5 million new employment opportunities, a NITI Aayog report projected on Friday.
British PM pledges support for auto industry, warning profound economic fallout from US tariffs
London, April 8: British Prime Minister Keir Starmer warned that newly imposed US tariffs on UK goods pose a serious threat to both the global economy and Britain's industrial base. He pledged urgent support for the domestic automotive sector in response to what he described as a changing world marked by "global instability."
S. Korea set to inject $2 billion in emergency aid for tariff-hit car industry
Seoul, April 6: The South Korean government plans to inject 3 trillion won ($2 billion) in emergency aid into the local car industry to cushion the blow from new 25 percent US tariffs, officials said on Sunday.
US auto tariff threat stokes fears over GM Korea's possible exit
Seoul, April 2: The United States' plan to impose 25 per cent tariffs on imported automobiles starting this week has ignited concerns over the long-term stability of GM Korea, the South Korean unit of General Motors (GM), raising the possibility of its potential withdrawal from South Korea, industry observers noted on Wednesday.
Hyundai Motor India Limited record sale of 7,62,052 units in FY 24-25
New Delhi, April 1: Hyundai Motor India Limited (HMIL) recorded total sales of 7,62,052 units in FY 24-25, the company said in its filing to the exchanges on Tuesday.
Tata Motors registered total sales of 252,642 units in Q4 FY25
New Delhi, April 1: Tata Motors Limited sales in the domestic & international market for Q4 FY 2024-25 stood at 252,642 units, compared to 265,090 units during Q4 FY 2023-24, as per the data released by the company on Tuesday.
Trump's 25% tariff on auto components import may divert orders to India: FIEO
New Delhi, March 27: US President Donald Trump's latest tariff move to impose 25 per cent tariffs on auto and auto component imports could potentially reshape the international automotive supply chain. The Federation of Indian Export Organisations (FIEO) sees this as a potential opportunity for India.
US tariffs on imported cars to weigh heavily on S. Korean carmakers
Seoul, March 27: US President Donald Trump's recent announcement to levy 25 per cent tariffs on all imported vehicles next month is expected to deal a heavy blow to South Korean carmakers, which largely depend on shipments to the United States, analysts said on Thursday.
South Korea to hold emergency meeting on US auto tariffs
Seoul, March 27: The government will hold an emergency meeting with local automotive companies on Thursday to discuss the possible impact of the US administration's plan to start imposing auto tariffs next week, the industry ministry said.
European Union regrets Trump's car tariffs: EU Chief
Brussels, March 27: European Commission President Ursula von der Leyen expressed deep regrets about the United States' decision to impose tariffs on imported European cars.
Maruti Suzuki to invest Rs 7,410 crore to set up 3rd factory at Haryana's Kharkhoda
New Delhi, March 26: India's largest carmaker, Maruti Suzuki Ltd, on Wednesday announced an investment of Rs 7,410 crore to build a third factory at Kharkhoda in Haryana, to expand production capacity to meet the rising domestic demand as well as exports.
Tamil Nadu benefits the most from PLI scheme, says FM Sitharaman
Chennai, March 23: Union Finance Minister Nirmala Sitharaman has said that Tamil Nadu has emerged as one of the biggest beneficiaries of the Production-Linked Incentive (PLI) scheme.
Aston Martin eyes expansion in India with Vanquish launch, focus on growing SUV market
By Shivani Sharma, New Delhi, March 22: Aston Martin launched its highly anticipated Vanquish in India, and Greg Adams, the company's president (Asia Pacific), expressed his enthusiasm.
Mahindra announces up to 3 pc price hike across SUV and CV range effective April 2025
Mumbai, March 21: Automobile manufacturer Mahindra & Mahindra on Friday announced a price increase of up to 3 per cent on its SUV and commercial vehicle (CV) range, effective from April 2025.
Mahindra & Mahindra to hike SUV, commercial vehicle prices from April
Mumbai, March 21: With several automakers set to increase prices due to rising costs, leading SUV manufacturer Mahindra & Mahindra (M&M) on Friday announced a price hike of up to 3 per cent for its sport utility vehicle (SUV) and commercial vehicle (CV) range.
Renault India to increase car prices by up to 2 pc from April
New Delhi, March 20: Automaker Renault India on Thursday announced that it will raise the prices of all its car models by up to 2 per cent, starting April.
Hyundai Motor CEO highlights need to tackle challenges amid Trump tariff woes
Seoul, March 20: Jose Munoz, the chief executive officer (CEO) of Hyundai Motor, on Thursday highlighted growing trade tensions and protectionism as key challenges for the global automotive industry in 2025, urging strategic adaptability to maintain the company's growth momentum.
Hyundai Motor announces raising car prices following other auto manufacturers
New Delhi, March 19: Hyundai Motor India will raise car prices by 3 per cent effective April 2025, the carmaker announced Wednesday.
Exports of auto components from India see robust growth in last 2-3 years
New Delhi, March 19: Showcasing India's growing role in the global supply chain, exports of auto components have shown robust growth in the past couple of years.
After Tata Motors and Maruti Suzuki, Kia announce price hike from April
New Delhi, March 18: After Tata Motors and Maruti Suzuki, Kia India has now decided to raise car prices across its entire product range. It announced a 3 per cent price hike in a statement on Tuesday.
Auto exports in S. Korea hit fresh high in Feb on hybrid models
Seoul, March 18: South Korea's car exports jumped 17.8 per cent from a year earlier last month to reach a record high for any February, driven by solid demand for hybrid cars, data showed on Tuesday.
Maruti Suzuki India announces up to 4 pc price hike from April
New Delhi, March 17: Leading automaker Maruti Suzuki India Ltd on Monday announced its third price hike this year — up to 4 per cent which is effective from April — to offset rising input costs amid moderating sales.
Automaker Kia appoints CEO Song Ho-sung for 3rd term
Seoul, March 14: Automaker Kia on Friday appointed Song Ho-sung to the company's chief executive officer (CEO) position for another three-year term through an approval at the company's shareholders' meeting in Seoul.
Automaker Kia appoints CEO Song Ho-sung for 3rd term
Seoul, March 14: Automaker Kia on Friday appointed Song Ho-sung to the company's chief executive officer (CEO) position for another three-year term through an approval at the company's shareholders' meeting in Seoul.
Passenger Vehicles made record sales in Feb, two-wheelers showed 9% decline in sales: SIAM
New Delhi, March 13: The Society of Indian Automobile Manufacturers (SIAM) has released the performance report for the Indian auto industry of February 2025, which shows a mixed trend across different vehicle segments, with passenger vehicles and three-wheelers posting growth, while two-wheelers recorded a decline.
S. Korea to devise response measures to US auto tariff plan next month
Seoul, March 7: The government will come up with measures next month to respond to the United States' plan to impose tariffs on auto imports, the industry ministry said on Friday, as the new U.S. tariffs are expected to deal a severe blow to the South Korean automotive industry.
Trump grants one-month exemption to big three automakers from Mexico, Canada tariffs: White House
Washington, March 6: The White House has said that US President Donald Trump is granting a one-month exemption to three major automakers from the newly imposed 25-per cent tariffs on Mexico and Canada.
Hyundai has big plans for EV exports from India
New Delhi, March 5: India will play a key role as a manufacturing hub in achieving Hyundai Motor Company's aim of selling 20 lakh electric vehicles in the global market by 2030, according to the company's president and CEO Jose Munoz.
India's auto component exports can hit $100 billion amid changing global trade dynamics
New Delhi, March 4: India's auto component industry can target $100 billion in exports, as global original equipment manufacturers (OEMs) reassess their supply chains and manufacturing strategies, presenting India with an optimal opportunity to establish itself as a top global destination, according to a report on Tuesday.
Kia CEO expresses confidence in new opportunities despite global trade risks
Seoul, March 4: Song Ho-sung, president and chief executive officer (CEO) of Kia, on Tuesday expressed confidence in turning increasing global trade and business uncertainties for the South Korean automaker into opportunities for further growth.
Mahindra clocks 19 pc growth in SUV sales in Feb, tractor sales also up 19 pc
Mumbai, March 1: Mahindra & Mahindra on Saturday announced that its overall auto sales for the month of February stood at 83,702 vehicles, a growth of 15 per cent, including exports.
South Korea's exports rebound to $52.6 bn in Feb on automobiles, computers
Seoul, March 1: South Korea's exports increased 1 per cent last month from a year earlier, rebounding from a decrease the previous month, thanks to an increase in overseas sales of computers and automobiles, data showed on Saturday.
South Korea's auto parts exports to US hit record high in 2024
Seoul, Feb 23: South Korea's exports of auto parts to the United States hit a record high last year, data showed on Sunday, as experts weigh the potential impact of incoming auto tariffs from the United States.
Centre likely to modify new EV policy as Tesla gears up to enter India
New Delhi, Feb 21: As Tesla prepares to enter India this year, the government is likely working on to modify the terms of a new policy that promotes manufacturing of electric vehicles (EVs) in the country.
India auto component industry revenues to expand 8-10% in 2025-26: ICRA
New Delhi, February 20: Revenue in the Indian auto component industry is expected to expand by 8-10 per cent in the upcoming financial year 2025-26, according to rating agency ICRA.
Trump to announce tariffs on cars, chips, pharmaceuticals 'over the next month or sooner'
Washington, Feb 20: US President Donald Trump has said that he will announce tariffs on cars, semiconductors, and pharmaceuticals "over the next month or sooner" as he is pushing for new levies to shrink America's trade deficits, boost domestic manufacturing and achieve other policy goals.
Hyundai, Samsung brace for hefty US tariffs
Seoul, Feb 19: South Korean automotive and chip companies are devising strategies to deal with looming hefty tariffs on their US exports, industry observers said on Wednesday, after US President Donald Trump announced his intention to impose auto duties of around 25 per cent and similar levels on chips.
Yokohama India boosts local production as road infra improves, consumption surges
New Delhi, Feb 19: Driven by surging popularity of luxury SUVs, growing premium segment and improved road infrastructure, Yokohama India on Wednesday said it has bolstered local manufacturing capabilities at its state-of-the-art facility in Bahadurgarh, Haryana.
Elon Musk's Tesla kicks off hiring in India amid strengthening ties with government
Mumbai, February 18: Elon Musk owned Electric car maker Tesla Inc. has officially begun its hiring process in India, marking a significant step towards its long-anticipated entry into the domestic market.
Hyundai crosses 37 lakh unit exports from India, to make more cars for the world
Gurugram, Feb 15: Hyundai Motor India Limited (HMIL), one of the country's leading automobile manufacturers, has completed 25 years of exports from India, reinforcing its position as the largest exporter in this segment.