Audi Financial News

Magic Johnson has bought an ownership stake in the National Women's Soccer League's Washington Spirit

Audi. Balbir Singh Dhillon, head, Audi India, said while the company is considering introducing more electric car models in the domestic market, and exploring the possibility of assembling them locally, policy continuity is required to make investments viable. He emphasised that subsidies are needed to drive growth in the EV segment, «till the time we reach a decent penetration level». «There is no science behind this; it's just a gut feeling that, maybe by the time we reach 50% EV penetration in the luxury space, we need that support (lower GST) and thereafter, it is driven by itself,» he said.

Audi India Head Balbir Singh Dhillon. He noted that hybrid cars are not currently part of the company's strategy for the country and the focus firmly remains on petrol and electric models. Dhillon said subsidies are needed for the growth of the EV segment, «till the time we reach a decent penetration level». «There is no science behind this, it's just a gut feeling that maybe by the time we reach 50 per cent penetration in the luxury (electric) space, we need that support (lower GST) and thereafter it is driven by itself,» he added.

A body style that is finding favour with several of them is coupé, with Citroen and Tata Motors already launching SUVs with the distinct design feature of the roof sloping steeply towards the rear that so far has been found mostly in luxury vehicles. Mahindra & Mahindra is exploring a coupé version of the XUV7OO SUV and also in its electric vehicle line-up, while Volkswagen as well as Renault have coupé SUVs in their pipelines for India, said people in the know. Luxury-car makers Audi, Mercedes-Benz, Jaguar Land Rover and Porsche already sell coupé SUVs in India.

super luxury cars are set to surpass previous peaks for the third straight year in India, even as mainstream auto makers are struggling to clear their piled-up inventory by offering massive discounts. A Lamborghini booked now will be delivered only in 2026 or later, as the supercar maker has sold all units its Italian headquarters allocated for India. The company retails the Huracan, Urus and Revuelto in India, with the on-road price ranging from ₹5 crore to ₹10 crore. Ferrari, McLaren and Aston Martin are also seeing strong demand in India for their supercars. Mercedes-Benz and Audi have waiting periods stretching up to a year for their top end models such as the AMG G 63 and RS Q8, priced ₹2.5-4.55 crore on road.

savarna has taken advantage of India’s hard-won reservation policy by pretending to be from an oppressed caste, the “jokes" that immediately arise are about the oppressed caste. In the case of Khedkar, shouldn’t shame be radiating from the idea of a civil servant without disability perpetuating fraud? Why wouldn’t you at this moment look around with discomfort and ask what chance has allowed you, a mediocre person surrounded by other mediocre persons, to get where you have gotten? Instead, the pivot manifests usually in the form that Sabharwal’s tweet has taken. Of questioning the “merit" of persons with disabilities instead.

car sales slowed in the first half of the year with combined sales at Mercedes-Benz, BMW and Audi growing 5.5% from a year earlier to 18,843 units, according to data from companies. This compares with a 23% on-year increase in the first half of 2023 at 17,869 units. Carmakers attributed the sluggish performance to a broader slowdown in the Indian car market, besides intense heat waves this summer, and an extended general election. Some experts also cited a shift in spending by the wealthy to experiences such as bespoke holiday itineraries. Luxury automakers are hoping to post a recovery in the second half, which will feature the festive season starting in September with Ganesh Chaturthi and Onam, and peaking with Dussehra and Diwali in October-November. This period is the most crucial for consumer durables like cars, accounting for 30-35% of annual sales.

Ranbir Kapoor and Alia Bhatt are now the proud owners of a brand-new car! The stars reportedly splurged Rs 2.5 crore on a swanky Lexus LM. The new car, which was spotted outside the couple’s residence Vastu, reportedly has a sleek design with multi-spoke wheels, a revamped interior suite, state-of-the-art shock absorbers, and dynamic radar cruise control. Additionally, it showcases various other features including an infrared ray sensor for climate control, a multi-position tip-up seat, a power seat long slide rail, and a frequency-sensitive piston valve. Furthermore, it introduces pioneering Lexus amenities such as armrest and Ottoman heaters, a separate front/rear audio output system, rear climate concierge, see-saw handle switch power sliding door switch, and a detachable remote panel that manages all functions for rear-seat occupants.

2024 GLC 300 4MATIC is set at ₹75.90 lakh, with the GLC 220d 4MATIC priced at ₹76.90 lakh. The refreshed C-Class models are listed at ₹61.85 lakh for the C 200, ₹62.85 lakh for the C 220d, and ₹69 lakh for the C 300 AMG Line.

Despite a long string of recalls that began more than two decades ago, about 6.2 million vehicles with potentially dangerous Takata air bag inflators remain on U.S. roads today

BluSmart, India’s biggest electric cab operator, wants to raise more than $300 million in three years to add thousands of cars to its fleet in its push to take on the likes of Uber Technologies Inc. in the fast-growing market. The company will increase its Indian fleet of electric vehicles — supplied by Tata Motors Ltd., BYD Co., SAIC Motor Corp.’s MG Motor and Stellantis NV’s Citroën — to 13,000 by March from 7,500 currently, Punit Goyal, co-founder of the BP Ventures-backed startup, said in an interview. In three years, it aims to have 25,000 cars, he said.

₹263 crore income tax refund fraud and money laundering case. The accused, Purshottam Chavan, was arrested on May 20 following a raid on his premises in Mumbai.

advanced glass coatings to keep vehicle cabins cool, alleviating the air-conditioning load as summer sweeps India, sending temperatures past 45°C in some cities. The push comes as vehicle sizes, glass surface areas and thermal loads grow with the shift toward larger vehicles such as SUVs and electric models requiring increased battery pack space. With glass typically comprising 25-30% of a vehicle's surface area, and that percentage rising consistently with increased sunroof adoption, moderating the sun’s fierce heat with glazing is becoming critical, car makers said. Over the past few years, average windshield area has increased 8% and total glass surface is up 12% as cars have become bigger, according to Jato Dynamics estimates. Automotive glass suppliers have developed specialised solar-reflective coatings incorporating ultra-thin layers of metal oxides such as silver, zinc and tin. These transparent metallised coatings absorb solar infrared radiation to reduce interior temperatures. Amid rising global temperatures, the role of advanced glass coatings is a must-have solution to beat the searing summer heat. Their widespread adoption aligns with vehicle electrification and enhanced safety features, said experts.

Mercedes-Benz, BMW and Audi are set to launch several new sport-utility vehicle models over the next three months, hoping to further deepen their foothold in this growing segment fuelled by evolving lifestyle trends and changing preferences of India’s affluent buyers. Such premium vehicles priced at more than Rs 50 lakh currently make up as much as 60% of sales at these companies, attracting a broader set of buyers including families and adventure enthusiasts, according to data collated by Jato Dynamics. Versatility and imposing road presence of SUVs over luxury sedans is finding increasing favour among Indian buyers. Mercedes-Benz with the largest portfolio of a dozen SUVs, grew sales by 41% in Q1 2024 «buoyed primarily by record sales of GLA, GLC, GLE and GLS SUVs in the first quarter of 2024 and we expect this demand to remain strong in coming months,» said Santosh Iyer, MD, Mercedes-Benz India.

Formula 1 is back in the United States for the first time in six months and the first stop is the Miami Grand Prix, the race that was supposed to be the American showpiece. But the sparkling debut of Las Vegas last November was rated as one of the best races of the 2023 season, and Circuit of the Americas in Austin, Texas, is a stalwart event that caters to passionate F1 fans. Miami was the big party when it debuted in 2022 but the question is: Has its status fallen enough that Sunday's race is simply just the first of three events in what has traditionally been NASCAR country?

₹67.65 lakh (ex-showroom) for the Unlimited trim, while the Rubicon variant is priced at ₹71.65 lakh (ex-showroom). The updated model is based on the facelift that was launched globally in 2023. From a design perspective, the refreshed Jeep Wrangler features a more streamlined version of the iconic seven-slat radiator grille and a Gorilla Glass windshield, among other changes.

Audi on April 25 said it has decided to increase the prices of its car models in India by up to 2 per cent starting from June this year, PTI reported. The move comes as a response to the escalating input and transportation expenses affecting the company, it said. The price hike will come into effect from June 1, 2024, as per the automaker's official communication.

₹1.39 crore (ex-showroom). Positioned as a completely built unit (CBU), interested buyers can secure their orders through authorized BMW dealerships or the carmaker's official online platform. The BMW iX electric SUV enters the ring to compete against formidable contenders in the burgeoning luxury electric vehicle market in India, such as the Audi e-Tron, Mercedes-Benz EQC, and Porsche Taycan.

Mercedes-Benz has raced ahead of rival BMW to wrest the leadership position in India's fast-growing luxury EV segment for the first time last quarter. Mercedes-Benz sold more than 350 EVs in the three months ended March 31, compared to 211 EVs by BMW India in the same period. Mercedes-Benz has also firmed up plans to launch three new battery electric vehicles this calendar year to further consolidate its position in the EV space. This will form part of the dozen new models the company plans to introduce during the year.

Luxury carmaker Audi India on Tuesday reported 33 per cent increase in retail sales at 7,027 units for the fiscal ended March 31, 2024. The German automaker had sold 5,275 units in the country in 2022-23 financial year. «We have seen a robust growth of 33 per cent in FY23-24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges,» Audi India Head Balbir Singh Dhillon said in a statement. He further said: «Despite ongoing growth in the luxury market, which is tapering off on the back of record-breaking sales in 2023, we are confident about the industry's potential to exceed 50,000 cars in 2024.»