Author: Central Desk

A recent dialogue with PTI unveiled Anshuman Singhania, JK Tyre & Industries’ Managing Director, projecting a bright future for the tyre sector, powered by the expanding automobile industry under a flourishing economic environment. The company, a significant figure in the global tyre arena, showcased impressive financial outcomes, notably tripling its consolidated net profit to Rs 227 crore for the quarter ending December 2023. The revenue from operations witnessed an ascent, reaching Rs 3,688 crore for the October-December stretch, a slight increase from Rs 3,613 crore in the same period the previous year. This trajectory highlights the company’s ability to leverage…

The veil was prematurely lifted on the next-generation Renault Duster, setting the stage for its global introduction in Turkey. This revelation, ahead of the official presentation, stirs significant anticipation, unveiling a glimpse into Renault’s strategic vision for the global, and notably, the Indian markets—a region where the Duster has cemented its presence. The Renault Duster, emblematic of resilience and performance, embarks on a new chapter, evolving from its predecessors. Leaked visuals expose a design inspired by Dacia’s Bigster concept, underscoring the synergistic bond between Renault and its sibling brand, Dacia. Despite their shared blueprint, the Renault Duster carves out its…

Morocco’s automotive sector has outperformed phosphates to become the top export industry, reaching a new high. Last year, the sector’s exports jumped to $13.9 billion, up from $11 billion the year before, a growth of 27%. This growth, noted by the bureau de change (OE), Morocco’s trade authority, shows a strong increase in an industry that’s very important to the country’s economy. The automotive sector’s growth trajectory is largely attributable to the burgeoning automotive wiring businesses, a segment essential for integrating electrical systems within vehicles. By year-end 2023, wiring exports alone ascended by 32%, reaching $4.5 billion. Further, the automotive…

Nitin Gadkari, India’s Minister for Road Transport and Highways, unveiled a groundbreaking forecast on Friday: by 2029, India is poised to lead the global automobile manufacturing arena and ascend to the position of the world’s third-largest economy. This ambitious goal is supported by the government’s strategic directive focusing on the construction of a premier road network, a shift towards alternative fuels, and a significant reduction in national logistics costs. Gadkari underscored the indispensable role of robust infrastructure as a catalyst for capital investment, development, and industrial expansion.“One thing is very clear: if we need capital investment, development and industry, we…

Honda has revised its earnings outlook upward for the fiscal year concluding March 31, buoyed by substantial profitability gains throughout its third quarter. This recalibration forecasts annual profits at $8.4 billion, a 4.2% enhancement from the prior $8 billion target. The adjustment reflects Honda’s stellar performance, particularly a 35% surge in operating profits during the October-to-December span, reaching approximately $2.5 billion, driven by a significant uptick in global sales across 2023. The automaker reported the sale of almost 4 million units last year, marking a 5.6% increase. Noteworthy is the brand’s triumph in the U.S. market, where deliveries escalated by…

Georgia stands at the forefront of automotive industry evolution, capturing significant investment from leading entities within the electric vehicle (EV) sphere. This surge underscores the state’s critical role amidst the shift towards green technology and sustainable manufacturing, heralding a new epoch of industrial vigor and ingenuity. Doowon Climate Control America, a progeny of the South Korean automotive titan known for its expertise in climate control systems, pledges over $30 million toward the establishment of a new production stronghold in Metter, Candler County. This initiative, poised to create 200 employment opportunities, strategically positions itself to bolster supply chains for Kia Motors…

Ford Motors emerges as a paragon of resilience and strategic foresight during a challenging economic landscape. The venerable American automaker unveiled its financial achievements for the concluding quarter of 2023 and the entirety of the year, surpassing analyst projections and underscoring the firm’s adept strategy for navigating future uncertainties, especially within the electric vehicle (EV) domain. For the quarter concluding in December 2023, Ford reported an exceptional $43.2 billion in automotive revenue, eclipsing forecasts by approximately $3 billion and besting the analogous period in 2022 by $1.4 billion. This accomplishment unfolded despite the firm registering a net loss of $526…

Volkswagen’s unveiling of a unique convertible variant of the Virtus at its Sao Bernardo do Campo facility, São Paulo, Brazil, marks a notable event in the automotive world. Launched in 2022, the Virtus, developed on the MQB A0 IN platform in India, represents Volkswagen’s strategic push into international markets, with Brazil now hosting this distinctive prototype. Known as Virtus Cabrio, this singular open-top version of the mid-size sedan was revealed to coincide with the visit of Brazilian President Luiz Inacio Lula da Silva, adding ceremonial significance to its introduction. Engineering Mastery and Bespoke Features The Virtus Cabrio amalgamates elements from…

Toyota embarks on an electrification journey with a strategic $1.3 billion infusion into its premier Kentucky facility, signifying a bold commitment to electric vehicle (EV) innovation and the enhancement of vehicle quality and employment stability within the United States. This significant investment introduces a groundbreaking, three-row battery electric SUV tailored for the U.S. consumer base, marking a pivotal advancement in Toyota’s electrification endeavors. The initiative encompasses the introduction of BEV assembly at Toyota Kentucky, complemented by a new battery pack assembly line, with Toyota Battery Manufacturing North Carolina providing the necessary batteries. This initiative represents a collaborative effort across Toyota’s…

Daimler Buses Solutions GmbH has initiated construction for an innovative e-bus depot The Hague. This endeavor, commenced at January’s end, stands as one of the subsidiary’s major forays into public transport electrification, aiming to revolutionize The Hague’s mobility landscape. This ambitious project encompasses the comprehensive electrification of HTM Personenvervoer NV’s depot, a principal operator within the Dutch city. Tasked with the installation of a complete ;e-system,’ Daimler Buses Solutions GmbH will implement 41 charging stations equipped with 122 charging points, supporting charging management, software, and operational concepts. The facility’s commissioning, scheduled for this year’s third quarter, aligns with Daimler Buses’…