Author: Central Desk

Skoda is actively pursuing a local partner to better navigate India’s highly competitive car market. The company aims to balance cost efficiency with the quality European cars are known for. Thomas Schäfer, Skoda’s CEO, acknowledges the challenges faced in India due to over-engineering vehicles to meet internal expectations, which has driven up costs and weakened their competitive edge. He highlights the need for engineering ingenuity that balances cost and quality, citing their sub-4 meter car as an example of significant cost reductions without sacrificing quality. This approach will be applied to future models to enhance market appeal. Strategic Local Partnership…

Industry experts foresee a seismic shift in the global auto landscape, predicting Chinese automakers will command one-third of global car sales by 2030. Currently at a 21% market share, Chinese brands are on track for remarkable growth, fueled by domestic market expansion. Market Expansion Despite obstacles such as new tariffs and challenges entering the Japanese market, Chinese automakers are set for significant gains worldwide. Analysts predict their market share in Europe will double from 6% to 12% by 2030. In Russia, dominance is expected to surge from 33% to an impressive 69%. Substantial growth is also anticipated in emerging markets…

Leading global energy and chemicals company Aramco has signed definitive agreements through a subsidiary to acquire a 10% equity interest in HORSE Powertrain. Formed on May 31, 2024, by Renault Group and Geely, HORSE Powertrain Limited is based in London, UK. This acquisition places Aramco alongside Renault Group, Zhejiang Geely Holding Group, and Geely Automobile Holdings. The transaction involves Aramco purchasing equal shares from Renault Group and Geely, who will each retain a 45% stake. The investment, based on a €7.4 billion enterprise valuation, is pending regulatory approvals and standard closing conditions. Aramco’s investment aims to advance more efficient mobility…

California’s annual classic car auctions concluded with an unprecedented $350 million in sales, highlighted by the $38.1 million Ferrari 250 GTO Berlinetta. Bonhams, Gooding & Co, and RM Auctions hosted the events across Carmel, Monterey, and Pebble Beach, attracting collectors worldwide. The standout was the crimson Ferrari 250 GTO, setting a new record at $38.1 million, surpassing last year’s $29.7 million. “The market is the highest it’s ever been, noted McKeel Hagerty, CEO of Hagerty. “There are new buyers from Europe, Asia, Latin America, and some from the Middle East.” By Saturday, 702 lots were sold out of 1,192, totaling…

Hyundai has introduced its latest electric vehicle, the Inster EV SUV. This new entry-level model is set to make a major impact globally with its compact size and affordability Built on the popular Casper SUV platform, the Hyundai Inster EV emerges as the brand’s smallest and most economical electric vehicle. Designed to bridge the gap between traditional A-segment sub-compact city cars and larger B-segment compact models, it offers an attractive option for urban drivers and budget-conscious consumers. With a length of 3.8 meters, the Inster EV features a versatile cabin, a stylish design, and a comprehensive feature list. Its unique…

CDK Global has initiated the restoration of its core dealer management system (DMS) to a select group of dealerships following a recent ransomware attack. The incident, occurring on June 19, resulted in a widespread system shutdown impacting thousands of car dealerships globally. A recorded message for customers on Thursday revealed, “Once validation is completed, we will then begin phasing in other dealerships on the core DMS, accounting, parts, service, sales, [finance and insurance], user management, and document management.” Austin, Texas-based CDK anticipates the recovery process to extend through the weekend, targeting June 30 for full system restoration. The cyberattacks on…

ZF’s Commercial Vehicles Solutions (CVS) division is pioneering the future of commercial vehicle technology by introducing the TraXon 2 Hybrid, a groundbreaking hybrid transmission designed to hasten the path toward decarbonized mobility. As part of the renowned TraXon family, this new transmission enables commercial vehicle operators to reduce carbon emissions without sacrificing the performance benefits of a combustion engine. Building on its extensive experience in hybrid technology for passenger cars, ZF leverages its R&D capabilities to create practical solutions for the commercial vehicle sector. The firm’s capacity to drive technological advancements across various mobility applications allows the CVS division to…

Volvo has shifted the U.S. launch date of its EX30, the company’s smallest and most affordable electric vehicle (EV), to 2025. Originally expected by the end of this year, the delay is attributed to a production ramp-up at Volvo’s Belgian facility. This move follows major changes in the global automotive landscape. President Biden recently announced a 100% tariff on Chinese EV imports, citing ‘unfair practices’ and artificially low-priced exports. The European Union has also revealed plans for additional tariffs on Chinese EV imports, impacting companies like Geely, Volvo’s parent company. Bjorn Annwall, Volvo’s deputy CEO, expressed disappointment over these trade…

Singapore-origin SingAuto unveiled its premier global electric vehicle (EV) brand this Wednesday, redefining the commercial vehicle prospect. The event, hosted at the renowned Yas Marina Circuit, marked the launch of the world’s first one-step new energy-intelligent refrigerated vehicle, a testament to SingAuto’s ambition to lead the new energy, intelligent, complete logistics solutions sector. The newly introduced model showcases a blend of autonomous driving capabilities, advanced cold chain logistics technology, and an AI-enhanced digital platform. Noteworthy features include multi-temperature control, independent suspension, and a sophisticated cloud platform for fleet management, setting new standards for technological integration in logistics. Simultaneous with the…

Bajaj Auto, renowned for its production of motorcycles and three-wheelers, recently inaugurated a sophisticated manufacturing facility in Manaus, Brazil. The event, graced by the Governor of Amazonas and notable dignitaries, marks a major stride in Bajaj Auto’s global expansion efforts. With operations spanning 100 countries, Bajaj Auto is deepening its international footprint and enlarging its customer base. The new 9,600-square-meter facility is equipped with the latest in manufacturing technology, featuring high-tech engine and vehicle assembly lines alongside robust testing capabilities. This plant is designed to produce 20,000 units per year on a single shift, with scope for future enhancement. …