Automobile

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.

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.

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.

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

The company's annual analysis - 'A Look Back at 2020: Year in Review' also revealed that, in India, they have committed 180,000 free rides to state/local governments. They also partnered with the National Health Authority of India (NHA) to provide 100,000 free rides to healthcare workers.

FCA ICT India, FCA's new innovation and technology development facility, will create nearly 1,000 new cutting-edge technology jobs by the end of 2021 and it has plans to increase hiring over the next two to three years. This will be FCA's second largest facility outside North America, Europe, Middle East and Africa.

The price revision will affect its range of 'Passenger and Commercial Vehicles', across models. The move has been necessitated because of the increase in prices of commodities and various other input costs, according to the company's statement.

The Chief of Audi India Balbir Singh Dhillon took to Instagram to announce the commemoration of the new A4 in India. The 5th gen Audi is expected to hit the roads in India in the first of 2021. However, it will be almost 2 years late to debut in India as it was already launched overseas in 2019.

The i20 is one of the best-selling cars in the country. It comes with Hyundai’s latest Sensuous Sportiness design philosophy, a new redesigned exterior body and a more refined interior. It has sportier look than its predecessor with a more striking grille, better headlamps and LED Daytime Running Lights. The back bumper gets a whole new design as well.

According to industry data released on Friday, passenger vehicle sales rose by 4.65 per cent in November on a YoY basis. The category includes sub-segments of cars, utility vehicles and vans.