Search Result for : Toyota

The Dollar Business Bureau  NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...

The Dollar Business Bureau Nissan Motor Co., agreed to pay $97.7 million as claims settlement from consumer economic loss in the US. This is with regard to the recall of 4.4 million vehicles fitted with Takata air bags. Though Nissan claimed that it was ‘not admitting’ to a fault, the settlement is similar to the ones that other automakers were granted- ‘preliminary approval to settlements’ amounting to $553 million. In June, Subaru Corp, BMW AG, Mazda Motor Corp and Toyota Motor Corp had reached a settlement of $553 million, affecting 15.8 million vehicles with the faulty airbags. Ford Motor Co., and Honda Motor Co., have not agreed till date for a settlement on consumer electronic loss claims. There were at least 18 ...

The Dollar Business Bureau  German automobile major Volkswagen on Wednesday said that the production has commenced on its forthcoming premium SUV Tiguan at the Skoda plant in Aurangabad (Maharashtra).  Slated to be launched in India later this year, the Tiguan model will be available in a 2-litre diesel engine coupled with an automatic 7-speed gearbox.  “The Tiguan will be our premium SUV offering for India and will cater to the unceasing demand in the segment. Our customers will now have an extended portfolio, ranging from hatchback to executive sedan, to meet their requirements at our showrooms,” said Michael Mayer, Director, Volkswagen Passenger Cars India, said in a statement.  The premium SUV and the sedan Passat are the latest products of Volkswagen lined up to ...

The Dollar Business BureauAutomobile major Volkswagen is planning to strengthen its SUV segment with the launch of its premium model Tiguan in India. The world's largest car manufacturer looks to scale up its presence in the Indian market. It is reintroducing its premium sedan Passat this year, in addition to its newly unveiled performance-oriented hatchback GTI. The company in one of its recent announcements said it is eyeing at positioning itself as an "accessible premium car brand" in the world’s fourth-largest automobile market. "Tiguan as our first premium SUV, comes into an area where we see more and more people investing in such cars. That will be the first step for us into that domain of SUVs," said Michael Mayer, Volkswagen Group ...

PTI Japanese auto majors Toyota and Suzuki on Monday agreed to begin concrete examinations for business partnership in areas of environment, safety and information technology along with supply of products and components.Toyota Motor Corporation and Suzuki Motor Corporation have agreed to start exploring ideas directed towards business partnership, as announced on October 12, 2016, the two companies said in a statement.“Since then, the companies have shared with each other their challenges and have been discussing areas of collaboration in a manner that ensures fair and free competition,” it added.“Toyota and Suzuki have agreed to work toward the early realisation of business partnership. To that end, the two companies are to immediately establish an implementation framework aimed at bringing to realisation the ...

The Dollar Business Bureau Toyota sold nearly 10.175 million vehicles across the world in 2016, less than Volkswagen’s 10.31 million auto sales in the same year. This year is particularly rewarding for Volkswagen after annual sales of 9.93 million cars in 2015. The German automaker considered this achievement a milestone recovery, after downfall of the company’s reputation due to the controversial emission scandal. Growth of Volkswagen sales in China was a major boosting factor for its sales in the past year. Volkswagen is on the verge of attaining the top position in global sales for the first time, lest, General Motors (GM) takes over in the last one week that remains. GM has its manufacturing units in 37 countries. It produces its vehicles under 12 ...

The Dollar Business Bureau  US President-elect Donald Trump has now targeted Toyota Motor Corp over its Mexican-manufactured car, threatening the Japanese car makers to pay “big border tax” if shipped Mexico-built cars to the US market. Earlier this month, Trump criticised General Motors (GM) and Ford Motor for manufacturing their vehicles abroad and shipping them to the US market.  The soon-to-be President had accused these companies of costing US jobs. Another Japanese car maker, Nissan Motor Co, could be at a bigger loss if Trump unveils any tax punishment. Nissan built its plant in Mexico over 50 years ago and now manufactures more than 800,000 cars. The company exports almost half of its production to the US, where it also has production plants. Japanese automakers produced ...

The Dollar Business Bureau  Trump's tweet has yet again sent shock waves through the auto industry with its threat to penalise Toyota with 'big border tax' if it opens a new manufacturing facility in Mexico. "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build in U.S. or pay big border tax," Trump tweeted on 5 Jan 2017. Trying to deliver on his promise to bring back manufacturing jobs to America, Trump has often used his twitter account to target multiple automobile and prevent them from moving production facilities out of the US. His attempts at meddling with the economy (even before assuming the title of POTUS) have also been rewarded earlier in Ford's ...