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Magna lags profit estimates, cuts annual sales forecast on supply chain snags – ET Auto

Baua Electric

Canada’s Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. The company’s shares were down about 4% in early trade.

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CEO’s Take on 2024: Cost efficiency and tech skills make India a global force in auto parts sector, says Nirmal K. Minda, CMD, Uno Minda – ET Auto

Baua Electric

Minda, CMD, Uno Minda Edited excerpts: Q: After two consecutive years of swift growth in the auto component industry ‘s performance, what is your outlook for 2024? The past two years have seen a remarkable transformation in the Indian auto and auto component industry.

India 52
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AlixPartners study finds post-crisis auto industry facing new set of challenges; sales projected below historical levels for foreseeable future

Green Car Congress

In sync with its past annual auto studies, AlixPartners continues to predict that US auto sales will climb more slowly, and to a lower peak, than many others are predicting. Specifically, the firm estimates US auto sales will reach just 12.7 billion in 2010 profit on a net margin of 4.6% billion on a net margin of 4.3%—things

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Volkswagen faces mounting pressure from Tesla and BYD

Teslarati

During the pandemic, Volkswagen fell behind in the Chinese auto market as companies like BYD, Nio, and Tesla took over, with the competition nearly doubling the market’s EV and hybrid offerings (via Bloomberg ). The plant will bring back the Volkswagen Scout as a BEV brand, along with other vehicles in the SUV and pickup segments.

BYD 86
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Honda to step up its game with new electric motorcycles and EVs

Teslarati

With the popularity of electric vehicles continuously rising, legacy automakers like Honda are reevaluating their place in the general auto industry. Some believe the rise of BEVs will eventually phase out traditional internal combustion engine vehicles. The e:N SUV xù concept model was unveiled at Auto Shanghai this month.

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KPMG survey finds global auto execs ranking fuel efficiency the top consumer priority

Green Car Congress

The vehicle categories seeing the most significant response increases in the 2011 survey compared with 2010 were SUVs, luxury vehicles, large pick-up trucks, and cross-overs. The 2011 KPMG survey also finds the auto industry heavily investing in future technology, new products and safety improvements. Investments.

Global 218
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New milestone in 2023: What drove India to record over 41 lakh car sales

Baua Electric

REUTERS) The just concluded year 2023 was a cheerful one for the Indian auto industry, as the car manufacturers in the country breached the four million mark for the first time. This created quite a ruckus in the global auto industry. per cent growth over 39 lakh units registered in 2022.

India 52