As demand for diesel variants of luxury cars and SUVs dips in the wake of pollution concerns, companies like Mercedes-Benz and Audi are rushing to bring in their petrol offerings to India.
India is the fastest-growing major car market in the world, with sales of passenger vehicles rising by 7.24 per cent for the year ended March 2016. By 2020, the country is likely to be the third largest passenger car market in the world. Interestingly, India's pre-owned or used car market is even bigger (1.2 times) and its growth faster, according to a Mahindra First Choice Wheels report.
Alphabet Inc's Google self-driving car project took a step closer to market with the hire of a top executive from Airbnb, the online vacation home rental marketplace.
Hyundai Motor India aims to have four SUV models in its product portfolio in the next four years as it looks to further consolidate its position in the fast-growing segment.
German luxury carmaker Mercedes-Benz plans to offer petrol variants for all its models sold in India by next month so as to align with the demand shift following uncertainty over diesel vehicles in the wake of pollution concerns.
Chief Executive Dieter Zetsche is sweeping away layers of bureaucracy and encouraging a more experimental approach to new products.
Luxury automaker Lamborghini expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV, but it will not lose its focus on making sports cars, Chief Executive Officer Stefano Domenicali said.
German car giant Volkswagen said it had reached a deal with suppliers to begin deliveries again after a stoppage that forced the group to halt production at several plants.
Volkswagen is planning further acquisitions in the market for new transportation technologies and services.
Harley-Davidson Inc agreed to pay a $12 million civil fine and stop selling illegal after-market devices that cause its motorcycles to emit too much pollution, the U.S. Justice Department said.
Standard & Poor's Ratings Services (S&P) has raised its long-term corporate credit rating on Tata Motors to a better grade with less vulnerability of non-payment based on better performance of its British arm Jaguar Land Rover (JLR).
Homegrown auto major Mahindra & Mahindra plans to enter new segments of commercial vehicles as it aims to be a full-range player in the said category in the next three years.
Mahindra & Mahindra is recalling in India an unspecified number of its SUV Rexton manufactured on or before September 2014 to rectify faulty rear driveshaft.
The Supreme Court lifted its embargo on registration of high-end diesel cars and SUVs having engine capacity of 2000cc and above in Delhi and National Capital Region on payment of one per cent of the ex-showroom price of such vehicles as green cess.
Automobile industry on Friday welcomed the Supreme Court decision to lift ban on cars and SUVs with diesel engine capacity of 2,000 cc and above in the Delhi-NCR region.
Auto stocks rallied sharply on Friday, following Supreme Court's decision to lift the ban on registration of diesel cars with over 2000 cc engines in Delhi.
A promoter entity of Hero MotoCorp on Thursday divested its equity holding in the two-wheeler major by selling shares worth Rs 1,910 crore to another promoter firm in an open market transaction.