Page 6 - Auto Industry

Auto sector can emerge as global hub, mustn't waste chance: Pawan Munjal

The COVID-19 pandemic presents an opportunity for the Indian automobile and components sector to become a global hub, thereby helping the country become self-reliant and such a chance must not be wasted, Hero MotoCorp CMD and CEO Pawan Munjal said on Saturday. Speaking at the annual session of Auto Components Manufacturers Association of India (ACMA), Munjal said the auto sector can also lead the way for other industries in India in responding to Prime Minister Narendra Modi's "clarion call" for Aatmanirbhar Bharat. "The silver lining in this pandemic is the Honorable Prime Minister's clarion call and push for an Aatmanirbhar Bharat -- I believe that going forward we, and our sector can be the growth engine for bringing alive Atmanirbhar Bharat, a self-reliant India, by all of connecting, communicating and collaborating on multiple fronts such as innovation, engineering and R&D," Munjal said. Stating that India's biggest advantage and key asset is its unique position of "having ...

Covid-19 impact: Govt looking at GST rate cut for automobile sector

The government is likely to include auto components under the production linked incentive (PLI) scheme and evaluate local content and bring in value addition to automobile companies

India open to raising duties on auto imports to boost local production

Modi government wants companies to reduce imports, increase domestic production and play a bigger role in the global supply chain in an effort to make the country more self-reliant

Top headlines: Japan to support firms moving to India, SC rejects exam plea

From Japan subsidising manufacturing firms moving to India or Bangladesh from China to IndiGo planning to shelve planned QIP if travel picks up, here are the top headlines of the evening

Auto industry not in position to make investments for new norms: SIAM

SIAM also noted that government support was required to pursue the targets set under the Automotive Mission Plan 2026 (AMP 2026)

A Covid-19-hit auto industry pitches for incentives to revive demand

At SIAM's 60th annual conclave, the industry body's president blamed the sales slump on an overdose of regulations, liquidity issues and a slowing economy

Steel Strips Wheels bags orders worth $455,000 from US, European Union

The company said orders of similar capacity are anticipated from the same customer base as businesses have picked up speed

Auto majors hold steady on EV plans as pandemic wrecks ICE market

Encouraged by demand pick-up in the past few months, most are going ahead with their planned investments and models

Govt should announce special stimulus package for auto industry: Bosch

Govt should come up with a special stimulus package for the domestic automobile industry in order to revive the segment which is expected to de-grow in the current financial year as well, Bosch said

Biz Buddy: Tamil Nadu's faceless grievance redress mechanism for industries

A first of its kind in India, Tamil Nadu's Biz Buddy is an industry helpdesk that facilitates monitoring and time-bound resolution of issues

Lower GST will help entire auto supply chain: TVS Motor's Sudarshan Venu

Govt would look into the auto industry's demand for lowering the tax rate on two-wheelers, said Sitharaman

Piyush Goyal deliberates on ways to reduce imports in auto sector

Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with various industry associations to discuss ways to reduce imports in the automobile industry

Volkswagen cuts dividend as profits evaporate in pandemic sales slump

Volkswagen cut its dividend proposal for 2019 to 4.80 euros per ordinary share

Symbiosis, the need of the hour

The industry has been engaged in a dialogue with the Union government on a specific set of fiscal measures that would be required to revive demand

Covid-19 relief: Auto industry organises 7.5 mn face masks, 90,000 PPE kits

The industry has set up production capacities to arrange 60,000-plus ventilators and over 1,700 beds

Buses, non-personal passenger cars to adopt electric mobility next: Report

India's first wave of electric mobility adoption has penetrated the two- and three-wheeler segments with a variety of new products

How Tesla is heralding a new culture in auto industry, one car at a time

Investors are betting on Tesla's ability to scale up manufacturing just as they once backed Toyota Motor Corp, which defined the auto industry's last era

India's auto sales volume will take 3-4 years to recover: Industry body

Nifty auto index, which tumbled nearly 11 per cent in 2019, crashed over 31% in March

Motorcycle segment to outperform other auto verticals amid Covid-19: Fitch

'While we forecast that India's motorcycle sales will contract by 23.7 per cent year-on-year in 2020-21, we expect motorcycle production to contract by just 16 per cent year on year," it said

Bad news for financiers: CVs in for a long haul, may be last to recover

Lower fleet utilisation, weak cash flows keep NBFCs under pressure