Passenger Vehicle

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• Maruti Suzuki opens pre-bookings for 4th gen Swift at INR 11,000

  The new swift builds on its sporty design which aims to enhance its dynamism and fun-to-drive quotient, the company said.

  

• Tesla to cut hundreds more jobs in Musk cost push

  Tesla plans to implement further job cuts beyond the recent layoff of over 10 percent of its workforce as part of its cost-cutting measures amid challenges in the electric vehicle market, according to a report by US media. Elon Musk, CEO of Tesla, expressed a commitment to stringent headcount and cost reduction in an email, targeting executives who retain staff not meeting high standards.

  

• Hyundai domestic sales up 1% to 50,201 units in April 2024

  Hyundai totally sold 58,201 units in April 2023, which posted a Y-o-Y growth of 9.5% with 63,701 units in April 2024. The company’s exports also saw a growth of 58.8% in April 2024 with 13,500 units sold in previous month.

  

• MG Motor India sales declined 1% to 4,485 units in April 2024

  EV portfolio sales account for 34% of total retail.

  

• Maruti bets on new-gen models to race past industry growth

  Maruti Suzuki India is aiming to sell about 2 million vehicles in the current fiscal, an 8.1% increase, outpacing the domestic industry. The company is betting on the launch of new models to drive growth, targeting a 10% rise in production. Maruti also plans to step up exports significantly and invest INR 1.25 lakh crore by 2030 to double output. The company's aggressive strategy aims to regain market share lost to rivals in recent years.

  

• Tata Motors slapped penalty of INR 6.68 cr from Corporate Division, West Bengal

  The company stated in its regulatory filings that the penalty of INR 6,68,02,395 was slapped by the Senior Joint Commissioner Large Tax Payer Unit, Corporate Division, West Bengal. “The Company has received order confirming demand on account of Excess availment of credit under section 73 of the CGST/ SGST Act, 2017”, the company stated.

  

• Anand Mahindra responds to ‘your cars can't compete with Japanese or Americans’ criticism amid XUV 3XO launch

  Anand Mahindra has responded confidently to criticism on social media regarding Mahindra cars' competitiveness against Japanese and American giants. This dialogue began with a user expressing skepticism about Mahindra's capabilities. Mahindra's response, filled with confidence and determination, highlighted the company's resilience and determination to excel despite challenges. This exchange coincided with the launch of the Mahindra XUV 3XO, a compact SUV aimed at the Indian market with revamped features and an updated design.

  

• Hyundai Motor Group plans hybrid car launch in India, sources say

  Hyundai and Kia are both targeting the launch of hybrid SUVs in India in 2026 or 2027, one of the sources said, adding that their EV plans for India were also on track.

  

• Skoda makes Kushaq and Slavia safer with MY24 updates

  Skoda Auto India continues to bring safety as its key component with introduction of six airbags as standard across all variants of the Kushaq and Slavia. The introduction is part of the company's MY24 updates for its India 2.0 product portfolio, the company said.

  

• Elon Musk lays off Tesla senior executives in fresh job cuts: Report

  Tesla CEO Elon Musk is reducing senior management and laying off hundreds of employees due to falling sales and the pace of layoffs. Rebecca Tinucci, senior director of Tesla's Supercharger business, and Daniel Ho, head of new products, will leave. Musk also announced the dismissal of everyone working for Tinucci and Ho, including the roughly 500 employees in the Supercharger group.

  

• Electric cars pile up at European ports as Chinese firms struggle to find buyers

  China's automotive expansion programme draws parallels with the moves made by Japan in the 1960s and 70s. At that time, the product coming from Japan was commendable but lacked the finesse, design and longevity of their western counterparts.