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Mahindra sells Turkey foundry stake handing control to Hisarlar led consortium

Mahindra sells Turkey foundry stake handing control to Hisarlar led consortium

Mahindra & Mahindra has exited its interest in Turkey’s Erkunt Foundry, selling its stake to a consortium led by Hisarlar Makina Sanayi. The company says the move is part of its capital allocation strategy. The transaction is reported at 100,000 Turkish Lira, with control transferred to the new consortium.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Haryana raises minimum wages 35 percent as unrest grows and auto sector braces for higher costs

Haryana raises minimum wages 35 percent as unrest grows and auto sector braces for higher costs

Haryana has increased minimum wages by 35% for unskilled workers following factory protests and work boycotts driven by higher living costs, surging food prices, and disrupted gas supplies. The government says the move will ease pressure on labourers, but industry expects it to raise operating costs for India’s auto sector.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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EV momentum fades after GST 2.0 as ICE price cuts steal demand

EV momentum fades after GST 2.0 as ICE price cuts steal demand

EV penetration in India is losing steam for cars, two-wheelers, and three-wheelers after GST rates for internal combustion engine vehicles were reduced under GST 2.0. As ICE models become more price-competitive, buyers are shifting away from EVs—despite new launches like Maruti’s eVitara. The result is slower EV adoption across multiple segments.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
India becomes top tractor buyer outpacing US China but farming is not the driver

India becomes top tractor buyer outpacing US China but farming is not the driver

India has overtaken US and China to become the world’s biggest tractor market, now capturing about half of global wheeled-tractor sales. That rise is happening despite slow agri GDP growth and shrinking farm sizes. With farming not doing the heavy lifting, the question is: what demand is really propelling tractor sales across India?

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Tesla to hire over 1000 workers in Germany as layoffs hit rivals hard

Tesla to hire over 1000 workers in Germany as layoffs hit rivals hard

Tesla says it will add more than 1,000 jobs in Germany, a rare bright spot for an auto industry facing layoffs. While German automakers struggle with high costs and fierce competition from China, Tesla’s move signals potential momentum and a different bet on future demand and production capacity in Europe’s biggest auto market.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
West Asia war could hit India auto industry with costs and supply chain shocks say SIAM

West Asia war could hit India auto industry with costs and supply chain shocks say SIAM

The Society of Indian Automobile Manufacturers (SIAM) says the West Asia war may hurt India’s auto sector in the near term. SIAM president Shailesh Chandra warned of rising input costs, supply chain disruptions, and added pressure on logistics, all of which could impact production and timely movement of vehicles and components.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Volvo India warns war linked supply chain strain could disrupt auto market demand soon

Volvo India warns war linked supply chain strain could disrupt auto market demand soon

Volvo Group India president Kamal Bali says the Middle East conflict has not directly impacted India’s auto sector so far, but supply chain strain could become a real threat. He hopes for a swift end to the war, citing India’s resilience, while adding that Volvo is currently performing well with a strong market position.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
Maruti bets Victoris on mid size SUVs to challenge Hyundai Creta — can it finally crack the segment

Maruti bets Victoris on mid size SUVs to challenge Hyundai Creta — can it finally crack the segment

After years dominating India’s small-car market, Maruti Suzuki is pushing into the mid-size SUV battleground with its Victoris. The strategy leans on youthful design, fresh tech, and Maruti’s proven value-for-money approach to challenge Hyundai’s Creta. The question now is whether the new SUV can break into a fiercely competitive segment dominated by strong incumbents.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026
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