Page 18 - Auto Sector

Govt's sops for auto sector: Hero reiterates demand of cutting GST

Hero's stance brings to fore the difference between them and rival Bajaj Auto which wants a GST cut closer to BSVI norms kicking in

Launched in June, 15,939 units of MG Hector sold till December 2019

MG Motor is set to launch its second car and the first electric vehicle - MG ZS EV - in India this month

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

Lenders step up repossession of commercial vehicles on payment defaults

Data collated by the Delhi-based IFTRT shows that close to 50,000 commercial vehicles have been seized and are parked in the stockyards

Passenger vehicle production up 4%, signaling potential recovery in sector

Sales of passenger vehicles were only marginally lower in November at 263,773 vehicles, compared with 266,000 vehicles last year

Auto sector is in transition phase, no threat of job losses: Govt in RS

Union Heavy Industries Minister Prakash Javadekar said no closure of any automobile or ancillary manufacturing units has been reported in the past three years

Maruti raises production by 4% in Nov after 9 straight months of output cut

Production of utility vehicles such as Vitara Brezza, Ertiga and S-Cross increased by 18 per cent to 27,187 units as compared to 23,038 units a year ago

Citroen gears up for India entry next year, to start with metro cities

Set to kick off India journey next year, European auto major Groupe PSA is initially targeting ten cities for Citroen brand through smaller, yet highly digitised showrooms, with an aim to help its dealers to invest judiciously on premises, as per a senior company official. The company, which formally announced to enter the Indian market with Citroen brand early this year, is looking to create a seamless digital experience for prospective customers of its first model -- C5 Aircross SUV. "Through our network, we aim to bring in a digital disruption for a seamless customer experience," Citroen India Senior Vice President, Sales & Marketing Roland Bouchara told PTI. Prospective buyers will be able to research and chose model variants, transact for finance and insurance digitally, he added. With high digital intervention, the brand aims to have comparatively smaller sales outlets in the country. "Since we are setting up a new network, we are proposing a different business model to our

Automobile slowdown has shrunk GST compensation kitty, says Sushil Modi

The fund is used to compensate the states for revenue shortfall suffered due to roll out of the new indirect tax

RBI's policy surprise: Pause on rate cuts may hit real estate, auto sectors

Real estate developers were expecting a rate cut of 50 to 100 basis points

Downturn can be a blessing, best time to bring changes: Royal Enfield CEO

In the next 3-6 months, things should start to look-up, says Dasari

Maruti to hike prices from Jan; M&M, Toyota, Mercedes may follow suit

Other car manufacturers such as Toyota, Mahindra & Mahindra and Mercedes-Benz said they are also contemplating a similar move

Steel sector growth to slow down on weak auto, manufacturing order: Moody's

Soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Korean demand will soften because of the sluggish construction and auto sectors.

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

Auto-tech startups pave new road to growth even as sector suffers slowdown

The Indian car rental industry has grown at a CAGR of 24.6% during 2015-19 as new-age millennial consumers prefer experiences over ownership

BSVI emission norms: Toyota to phase out Etios, Liva by April 2020 in India

Mumbai, 21 NovemberThe Toyota Etios sedan, Etios Cross and Liva hatchback could hit the end of the road once the stringent BS-VI emission norms take effect from April.The high cost of switchover and low volumes have, aver informed souces, prompted Toyota Kirloskar Motor (TKM) to pull the plug on its mass segment models. Now on, Toyota is unlikely to make any model on its own for the mass segment here -- it might instead source from Suzuki's India subsidiary and re-badge these. A spokesperson at Maruti Suzuki India declined to comment. A spokesperson at TKM said the company would "refrain from commenting on the specifics as it pertains to future product plans". Adding that the company was "closely monitoring customer needs and trends" in trying to bring products suitable for the Indian market. In India, as part of the broader agreement between the two Japanese parent entities, Toyota sells the Suzuki Baleno as the rebadged Glanza. It plans to add to its line-up with the re-badged ...

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

UV launches, steep festival discounts bolster sales

Icra downgrades its outlook on automotive dealership sector to negative

The muted industry scenario has stressed credit profile of dealers, especially those of new entrants and, has forced some dealerships to shut down as well, he added.

Indian car buyers less price-conscious, prioritise style instead: Study

Indian car buyers' attitude is changing from price consciousness to those that are driven by vehicle looks and content as they give more emphasis on styling, according to a study by JD Power. As per the study by the global consumer insights and advisory services provider when it comes to sales satisfaction Hyundai ranked the highest followed by Mahindra & Mahindra and Toyota. Stating that customers' priorities have shifted from functionality to form, the JD Power 2019 India Sales Satisfaction Index noted that buyers are placing more emphasis (up 9 percentage points from 2018) on vehicle styling, both exterior and interior, when deciding on a model. Other aspects such as performance and reliability (both up 7 percentage points), as well as technology (up 5 percentage points) also play bigger roles in determining choice of vehicle, it added. "On the other hand, aspects declining in importance are price of the vehicle/installments and the ability to obtain financing (both down 4 ...

Auto firms' warehouse leasing down amid vehicle sales slump: JLL India

According to JLL data, total warehousing leasing stood at 24.1 million square feet during January-September