Magna International Inc on Friday reported better-than-expected quarterly revenue and forecast full-year sales above estimates, as auto sales in North America showed signs of a recovery from the COVID-19 pandemic.Since hitting a bottom in April, North America auto sales have gradually recovered as economies have reopened after easing of government-enforced lockdowns.A rebound in sales has seen major automakers scramble to ramp up production and boost weak inventories at dealerships, lifting sales at many auto parts makers including Canada's Magna.Earlier this week, U.S. auto parts makers BorgWarner Inc also reported a smaller-than-expected second-quarter loss and raised its full-year free cash flow outlook.Magna, which makes parts such as body structures, chassis and powertrain for customers including Ford Motor and Volkswagen, said it has been able to restart operations at its plants around the world.Ontario-based Magna had pulled its full-year financial outlook in March. The company … [Read more...] about Auto supplier Magna’s sales beat as vehicle production rebounds
NEW DELHI: India’s auto part makers are ready for the shift to Bharat State VI emission norms. Most of them showcased their technological preparedness at their stalls at the Component Show, being held alongside the Auto Show.The CK Birla Group’s engine and transmission manufacturing unit Avtec showed BS VI ready petrol and diesel engines for passenger vehicles developed in collaboration with Peugeot Citroën.“Since we are already an engine manufacturer, we don’t need to start from zero,” said Prabhakar Kadapa, managing director of Avtec. “We just need to do re-tooling and invest in testing.”It can start volume production of engines using both fuels with a year’s notice, he said.Avtec has also licensed diesel engines that have a capacity of less than 2000 cc. The Supreme Court has barred the registration of vehicles with diesel engines at that or above as part of pollution control efforts.Transport minister Nitin Gadkari reiterated … [Read more...] about How prepared are auto parts makers to adopt BS-VI norms?
Earlier, the MG Gloster has been spotted testing quite a few times on the Indian Roads. However, according to the latest images snapped by CarandBike, the SUV has been spotted testing once again without wraps, revealing quite a few details. The upcoming SUV is based on the Maxus D90 SUV that is currently being sold in the international markets. … [Read more...] about MG Gloster Spotted Testing Once Again Ahead Of India Launch: Details & Specifications
Some of its include a 4.25-inch instrument cluster, 10.25-inch touchscreen infotainment system with Apple CarPlay, Android Auto and the brand's UVO connected technology. The SUV also features ventilated front seats, wireless charging, D-cut steering wheel with mounted controls, rear AC vents, air-purifier, electric sunroof and a host of others. … [Read more...] about Kia Sonet SUV Unveiled Globally Ahead Of India Launch: Here Are All The Details
Speaking about the Nexon EV itself, it is offered in two variants, with the base variant priced at Rs 13.99 lakh. While the top-spec variant retails at Rs 15.99 lakh. All prices mentioned are ex-showroom (India). The Tata Nexon EV, when launched, became the cheapest electric-SUV sold in the Indian market. … [Read more...] about Tata Nexon EV Monthly Subscription Plans Introduced: Here Are All Details