Page 32 - Automobile Industry

Little gain from Kamath Panel proposals, say auto dealers, component makers

They say average current ratio for industry is 0.8-0.9 due to two-year distress, so meeting the suggested ratio of 1 will be difficult for many

Telecom, automobile companies lead earning downgrades, shows data

The financial sector has seen earnings downgrade of nearly 30 per cent amid uncertainty over NPAs build-up

Need long-term roadmap to improve automobile contribution to GDP: NRI India

A long-term regulatory roadmap is required for the automobile industry to grow and increase its contribution to GDP to 12 per cent from the current 7 per cent

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

Auto sales bounce back in August on low base effect, pent-up demand

Dispatches at India's top two car makers, Maruti Suzuki India and Hyundai Motor India, zipped past not only the pre-Covid phase but also the months preceding the pandemic

Maruti Suzuki car sales recover in August; up 20% YoY to 116,704 units

Maruti's exports during the month skidded 15.3 per cent to 7,920 units over the last year

No freebies, cash discounts to cheer car buyers this festive season

Auto majors focus on finance schemes, enhanced digital experience instead

Varroc rides high on sharp auto recovery, strong order book hopes

Jump in European electric car sales, better utilisation of facilities should help improve sales and profitability

Indian automakers' demand outlook cloudy despite respite in July: Fitch

The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs

Covid-19 impact: Hero MotoCorp Q1 net profit falls 95% to Rs 58 crore

The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal

Maruti Suzuki's Alto crosses cumulative sales milestone of 4 million units

The country's largest carmaker Maruti Suzuki India Ltd (MSIL) on Thursday said its entry level small car Alto has crossed the cumulative sales milestone of 40 lakh units. Launched in September 2000, Alto has been the best most selling car for 16 consecutive years in India, the company said in a statement "Alto is the preferred choice of Indian car buyers with 76 per cent of Alto customers choosing it as their first car," it added. Commenting on the feat, MSIL Executive Director (Marketing & Sales) Shashank Srivastava said,"Alto has been ranked as the No 1 selling car in India for 16th year in a row and we are immensely proud to announce another remarkable milestone of 40 lakh cumulative sales. This has become a sales record never achieved by any other Indian car." Over the years, he said, the brand Alto has established a strong emotional connect with the customers and has become a strong symbol of pride. "Alto is India's first entry level car to become BS-VI compliant coupled with

Signs of gradual recovery visible across different sectors in July

Retail sales of passenger vehicles and two-wheelers have touched almost 85% and 60% of pre-Covid levels, from a situation of zero sales in April

FADA to hold elections for the first time to elect state representatives

Federation of Automobile Dealers Associations (FADA) is taking this step so that the members can elect the best candidates from the states to represent their issues, it said in a statement

Skoda Auto India plans to ramp up reach, expand to 50 new cities in 3 years

The Czech auto manufacturer said in statement that under the purview of its 'INDIA 2.0' project, it will have at least twice as many sales and service touchpoints by 2022, as compared to now

Auto firms brace up for the festive season with slew of new launches

Automakers hope to make up for the loss of sales in previous months, but exercise caution

Shift in sales towards cars priced below Rs 5 lakh: Maruti's R C Bhargava

It is nowhere near the company's average sales in a month. We are producing vehicles that constitute only 60% of our capacity in Gurgaon and Manesar, Bhargava said

Car sales far from normal monthly numbers: Maruti chairman R C Bhargava

The auto major is currently producing vehicles at 60 per cent of its installed capacity in the Gurugram and Manesar plants, Bhargava pointed out during an interview

Auto companies may face 10-12% price increase for half-yearly contracts

Auto executives confirmed that negotitations between steel companies and major automakers - Maruti Suzuki, Hyundai and Mahindra & Mahindra - are in final stages

Slow Jaguar Land Rover recovery will weigh on Tata Motors profits

While operational gains will continue, firm may not turn profitable this year

TVS Motor plans Rs 300-crore capital expenditure amid Covid-19 pandemic

The company said it was planning to commercialise some of the intellectual properties (IPs) to be built by start-ups through the company's Singapore subsidiary.