M&M reports net loss of Rs 2,510 crore in Q4 FY20, Auto News, ET Auto

Operating margin of M&M increased slightly to 13.6 percent in the last quarter of FY20, compared to 13.5 percent in the corresponding quarter of previous fiscal.
Operating margin of M&M greater marginally to thirteen.6 per cent in the last quarter of FY20, as opposed to thirteen.five per cent in the corresponding quarter of prior fiscal.

New Delhi: Homegrown automobile key Mahindra & Mahindra (M&M) on Friday declared a consolidated net decline of Rs two,509.67 crore in Q4 FY20, which ended on March 31. M&M’s revenue also declined by 35 per cent on a YoY foundation to Rs 9,005 crore in the same quarter, as opposed to the Q4 FY19, when it registered Rs thirteen,808 crore revenue.

Operating margin of M&M greater marginally to thirteen.6 per cent

Read More

Tesla becomes world’s most valuable automaker, hits $1,000 per share, Auto News, ET Auto

The stock also got a boost from a bullish call by Wedbush, which lifted its target price for the automaker to $1,000 and said Tesla could have more room to run.
The inventory also got a boost from a bullish get in touch with by Wedbush, which lifted its concentrate on rate for the automaker to $1,000 and mentioned Tesla could have additional place to operate.

SHANGHAI: Tesla Inc’s (TSLA.O) inventory jumped previously mentioned $1,000 a share on Wednesday immediately after Chief Government Elon Musk advised his staff it was time to carry the Tesla Semi business truck to “volume production.” With this, Tesla has turn into world’s most important automaker.

Musk, in an electronic mail viewed by Reuters on Wednesday, did not specify a time body for ramping up production

Read More

More the people ride alone, more the zip for Hero MotoCorp on Dalal Street, Auto News, ET Auto

The entry-level bikes segment, a core forte of Hero, is expected to outperform the overall two-wheeler growth as consumers tend to rely more on personal vehicles than public transport to stay safe amid the Covid-19 outbreak.
The entry-stage bikes phase, a core forte of Hero, is envisioned to outperform the general two-wheeler development as shoppers tend to rely additional on own automobiles than community transport to keep protected amid the Covid-19 outbreak.

ET Intelligence Group: A greater preference amid traders for rural-facing auto segments is likely to assist Hero MotoCorp sustain momentum on bourses. India’s largest two-wheeler maker derives additional than fifty% sales from the rural industry, in which income has been supported by greater disbursements by MGNREGA scheme.

In addition, the entry-stage bikes phase, a core forte of Hero, is envisioned to outperform the general

Read More

FADA, Auto News, ET Auto

Customers showed continued weakness in consumer sentiment with retail sales remaining in red across all segments.
Customers showed continued weak spot in shopper sentiment with retail income remaining in crimson throughout all segments.

New Delhi: Witnessing practically zero income in April 2020 for the to start with time in the heritage of the Indian automobile sector, passenger motor vehicle (PV) registrations noticed a yr-on-yr drop of 87 per cent to 30,749 units in Might 2020, as per the info shared by the Federation of Car Dealers Affiliation (FADA) based mostly on VAHAN.

Overall motor vehicle registration figures at regional transportation places of work (RTOs), which are a proxy for income fell by 89 per cent more

Read More

Tata AutoComp ties up with Tellus Power Green to set up EV charging stations, Auto News, ET Auto

Tata AutoComp has tied up with Tellus Power Green to set up EV charging stations. (Representational image)
Tata AutoComp has tied up with Tellus Power Green to set up EV charging stations. (Representational picture)

New Delhi: The auto ingredient conglomerate Tata AutoComp Methods has signed a Memorandum of Knowing (MoU) with United states based DC charging infrastructure enterprise Tellus Power Green to offer AC and DC speedy chargers for the total selection of electric powered vehicles, the enterprise mentioned in a release on Thursday.

The selection of EVs involve – two-wheelers, three-wheelers, passenger vehicles and commercial vehicles in India.

Speaking on the event Arvind Goel, MD, Tata Autocomp Methods mentioned, “Tata AutoComp and Tellus will now supply

Read More