Page 19 - Auto Sector

Aluminium makers stare at consumption slowdown on auto sector stress

The prevailing economic slump and auto sector stress are likely to moderate consumption of aluminium products

Only minor Diwali revival for auto sector, expect no fireworks, say experts

At present, the auto industry is facing a severe demand slowdown on account of high GST rates, farm distress, stagnant wages and liquidity constraints

$8 bn fund manager Axis Mutual Fund adds battered auto stocks to portfolio

The S&P BSE Auto Index has declined 14 per cent so far this year

Car parts supplier Brose to cut 2,000 German jobs as auto sector struggles

Brose Group is a family-owned company and employs 26,000 workers globally.

Truck market: Amid falling sales, mileage, ownership cost claims reign

Sales of Mahindra's heavy trucks dropped to 3,427 units in the eight months from April to September

Q2 earnings preview: Low demand, high discounts may hit auto players

Owing to a weak festive season coupled with the challenges related to the switchover to BSVI norms, analysts expect pain for the auto firms to linger on for the reminder of the financial year

Auto sector needs a bigger boost: Nissan's new COO Ashwani Gupta

Those who worked with Gupta recall that his success at the top becomes evident as he prefers to lead from the front.

Luxury auto segment is down by over 20%: BMW Group India CEO Rudratej Singh

Last year, the company sold a little over 10,000 BMW cars, said Singh

Auto cos face structural issues, affordability a problem: Toyota Kirloskar

Kirloskar said while the government has done a lot of things such as increasing and improving roads,"Some things they have done, which I believe have created headwinds for auto sector."

Consumer sentiment to remain subdued; banks may re-rate: Vinay Paharia

While previous concerns such as domestic as well as global economic slowdown continue to remain, valuations have become attractive due to the improvement in the underlying fair value.

Maruti to Tata, festive season fails to help passenger vehicle sales

Major automobile makers, including Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Toyota and Honda, on Tuesday reported double digit declines in domestic passenger vehicle sales in September as onset of the festive season failed to lift the ongoing slump in the auto industry. The country's largest carmaker Maruti Suzuki India said its domestic sales declined by 26.7 per cent at 1,12,500 units last month as against 1,53,550 units in September 2018. Sales of mini cars comprising Alto and WagonR stood at 20,085 units as compared to 34,971 units in the same month last year, down 42.6 per cent. Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 22.7 per cent at 57,179 units as against 74,011 cars in September last year. The firm's mid-sized sedan Ciaz sold 1,715 units as compared to 6,246 units earlier. Similarly, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, declined marginally at 21,526 units as ...

Turning disruption into growth

Concerted actions across all stakeholders could create a unified push for a thriving automotive industry

Automakers may offer incentives to customers for scrapping old vehicles

Govt proposes manufacturers should bear the burden of discounts to push new CVs

Tax cuts will attract FDI in manufacturing, benefit auto industry: Icra

Indian auto manufacturers have imported components worth $17.6 billion during 2019-20 (till now) and this is likely to increase further in 2020-21 given the transitionary phase towards stricter safety

Tax cut, push for auto sector: What Sitharaman has done to rescue economy

Meeting traders, experts, entrepreneurs to gauge the pulse of the nation, Sitharaman has become a reformer, pulling all stops to get the economy out of a six-year-low growth rate

Corporate tax rate cut may not benefit auto buyers, say analysts

Tax cut may not translate into a price cut for auto buyers as companies have been taking a hit by doling out discounts and incentives to boost sales in a dull market

Fitment panel rejects demands of GST rate cut for auto, biscuit industry

The Committee also rejected the telecom ministry's proposal to reduce GST rate for telecom services from the present 18 per cent to 12 per cent, sources said

No slowdown, auto sector making hue and cry to get package from govt: CAIT

Citing an example of new vehicle launches, CAIT said companies have received huge number of bookings, which do not reflect any slowdown in the sector

Slowdown-hit auto components' outlook revised from stable to negative: Icra

Further, liquidity issues across the aftermarket dealer channel have led to de-stocking, curtailing fresh demand from component manufacturers, it added

Auto sector's rate-cut hopes fade as GST cess collection declines

Some states have asked for rate cuts for 5-star hotels; relief for cement, biscuit industries may be discussed