Page 8 - Auto Industry

After a bumpy ride in 2019, auto industry may see revival in H2FY21

Despite challenges, 2019 saw new brands coming in, mergers and partnerships as well as slew of launches

Battered by slowdown, auto industry pins hopes on 2020 for turnaround

Industry body Society of Indian Automobile Manufacturers (SIAM) expects things to turnaround in 2020-21

Explained: How the past decade redefined business for automakers in India

As city SUVs gained in popularity, premium sedans saw their sales wane and some products even got yanked from the market altogether

Auto industry needs to clock 14% growth for $5 trillion economy: M&M MD

India has set an ambitious target of $5 trillion in the next five years and 12 per cent of it is expected to be contributed by the manufacturing sector

Car sales drop again after festive season; industry pins hope on Dec demand

Maruti Suzuki reported sales of 150,630 passenger vehicles in the domestic market in November, down 1.9 per cent over 153,539 units in the corresponding month last year

Gadkari urges carmakers to focus on cleaner-fuel vehicles, promises support

Gadkari also stressed the need for diversifying agriculture towards power and energy to meet the goal of bio-fuel generation

Mahindra group going slow on niche-segment hiring as auto slowdown bites

'Fresh hiring will be limited. If a huge growth comes then we have to do a lot of hiring', the company said

Festive sales help passenger vehicles snap 11-month declining streak in Oct

UV launches, steep festival discounts bolster sales

Maruti Suzuki 'cautiously optimistic' over sales prospect in coming months

The country's largest car maker Maruti Suzuki India (MSI) remains 'cautiously optimistic' over sales prospect going ahead as many of the challenges that led to slowdown in the auto industry still exist, a senior company official has said. The company, which posted a growth in domestic passenger vehicle sales after seven months in October, said it would take at least few more months to get clarity if the industry is finally on a revival path. "We are cautiously optimistic. The reason why we are cautious is that we do not have a crystal ball. Many of the factors like high cost of acquisition, confusion related to BS-IV and BS-VI, issues related to finance norms and liquidity etc, continue to be there," MSI Executive Director (Marketing & Sales) Shashank Srivastava told PTI. He was replying to a query whether October sales were an indication of revival of the industry which has been grappling with demand slowdown for almost a year now. "We are optimistic a little bit because the ...

Commercial vehicle sales declined 23% in the first half of FY20: SIAM

SIAM said the slowdown in the commercial vehicle segment might continue in Q3FY20 owing to the implementation of various regulations

With half their fleet idle, transporters feel the pinch of auto slowdown

Some fleet owners are even considering selling some trucks to tide over the slowdown

Top 10 biz headlines: No GST relief for auto cos, opposition to RCEP & more

From chances of the auto industry having to wait longer for a GST rate cut on cars to Maruti Suzuki planning to lease 100 sales outlets to car dealers, here are the top business headlines for Monday

Auto industry may have to wait longer for GST cut on cars from 28% to 18%

Will be a political call now; state finance ministers to decide on September 20

Used car market on growth track, but auto crisis casts a shadow

Analysts and industry representatives fear that the slowdown in new car sales could have a spillover effect on the used car market

Auto industry fears collapse, Nitin Gadkari offers comfort at mega meet

With auto sales sliding for over 13 months now, industry captains went all out to demand a cut in goods and services tax as the only way to revive demand

Indian auto industry growth story about to collapse: Tata Motors MD

Welcoming the recent steps taken by the government, Butschek hoped for things to turn around, although the road ahead is still challenging

No plan to ban petrol, diesel vehicles: Gadkari allays auto sector fears

Gadkari said he would take up a discussion with the finance minister for extending possible export incentives on automobile makers, as has been done for the sugar industry

GST Council may cut tax on hybrid vehicles as auto sector battles slowdown

The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%

Slashing GST rate can help bring back growth in auto industry: Hyundai CEO

CEO Kim said such a positive step was necessary under the current circumstances in order to make "people come forward"

'Part of the business': Maruti says 3,000 temporary jobs cut in slowdown

Maruti chairman R C Bhargava wants the government to reduce taxes to help the automobile industry