AUTOMOBILES
Volkswagen India to raise Polo, Vento prices from January 2021
According to the company, the move will be initiated in lieu of the rising input costs. "Effective January 2021, Volkswagen India announces a price revision of up to 2.5 per cent across the Polo and Vento models in lieu to the rising input costs," said a spokesperson for Volkswagen Passenger Cars India.
Jaguar Land Rover has contingency plans to deal with UK's ongoing Covid-19 challenges: Tata Motors
"This is subject to constant review," Tata Motors said in a statement. According to the statement, recent issues at UK ports have had no immediate impact for Jaguar Land Rover. "Our guidance of improved growth, profitability and cash flows in second half of the year continues to hold."
A holding company for Tesla, SpaceX is a good idea: Elon Musk
Responding to a Twitter follower who asked on Wednesday about Musk to create a parent company called 'X" for all the four firms to "ensure human survival and progress". Musk responded" "Good idea". The follower named David Lee added in a tweet: "X is mostly because Elon already owns the http://x.com domain name and it's a decent name".
Honda discontinues Civic and CR-V models, shuts Greater Noida plant
The Japanese automaker is now shifting its entire production from the Greater Noida plant to the Tapukara Plant in Rajasthan. Honda said that it is consolidating operations in India to make it sustainable and efficient
Bajaj Auto signs MoU with Maharashtra government to set up facility in state
"The facility is expected to commence production in 2023. This facility will be utilised for manufacturing high end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak," the company said in a statement.
Mahindra & Mahindra to raise prices of tractors from January 1
The company, however, has not revealed the details of the price increase and has said in a regulatory filing that it will communicate the same in due course. The announcement comes days after the automobile major said that it will increase the price of its vehicles from January 1, 2021.
SsangYong Motor Company of Mahindra files for bankruptcy
The Seoul Bankruptcy Court will deliberate and review the application and relevant documents submitted by SYMC to determine whether or not the court will commence the restructuring process of SYMC. SYMC has also applied for disposition of property preservation and an order of comprehensive prohibition.
Tata Motors Ltd to buy Marcopolo's stakes in bus/coach joint ventures for Rs 99.96 Crore
In a regulatory Tata Motors said as a consequence of its refreshed business strategy, Marcopolo S.A has decided to exit from the joint venture and offered to sell its 49 per cent shareholding in Rs 170 crore capital Tata Marcopolo to it.
Hero MotoCorp to raise two-wheeler prices from January 2021
The company cited a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals as the reason for the upcoming price rise.
Pandemic Struck: Auto parts industry's H1FY21 turnover de-grows 34%
For the first time ever, the industry witnessed a trade surplus with auto component exports at Rs 39,003 crore ($5.2 billion) and imports at Rs 37,710 crore ($5 billion); both exports and imports declined by 23.6 per cent and 32.7 per cent, respectively
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