Page 12 - Automobile Manufacturer
Tax, high interest rates hurdles for growth of auto industry: Force Motors
The company, which makes commercial vehicles under the Traveller brand and utility vehicle Trax, said the situation calls for a very detailed and thorough reform
 "Tax, high interest rates hurdles for growth of auto industry: Force Motors")
Centre close to finalising automobile scrappage policy: Nitin Gadkari
The policy is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles
 "Centre close to finalising automobile scrappage policy: Nitin Gadkari")
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
 "Auto sales bounce back in August on low base effect, pent-up demand")
Two-wheeler makers hold out for GST rate cut, stocks of most firms rally
Companies are optimistic that if the proposal does get accepted by the GST Council, it will certainly push demand ahead of the festive season and add heft to the recovery underway
 "Two-wheeler makers hold out for GST rate cut, stocks of most firms rally")
Royalty, technical fee cost Indian units of global auto majors Rs 8,000 cr
The amount is equal to nearly 4% of their combined net sales
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
 "Skoda Auto India plans to ramp up reach, expand to 50 new cities in 3 years")
Expect sales volume to pick up in festive season during Oct-Mar: Honda
It also expects production across its two plants in India to touch pre-Covid-19 levels by the end of next month
 "Expect sales volume to pick up in festive season during Oct-Mar: Honda")
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
 "Auto companies may face 10-12% price increase for half-yearly contracts")
Maruti Suzuki plans digitised financing options amid growing online demand
The country's largest car maker that sells on an average one out of every two cars sold in the country has seen digital enquiries spike to over 45 per cent during the lockdown months
 "Maruti Suzuki plans digitised financing options amid growing online demand")
Global spread helps Motherson Sumi tackle Covid-19 pandemic pain
The third part of the series looks at how the firm used its first-mover advantage to get production back on track
 "Global spread helps Motherson Sumi tackle Covid-19 pandemic pain")
Changes and challenges for automakers as India eases coronavirus lockdown
March and April were the cruellest for automakers because of a nationwide lockdown. As economic begins to pick up, Surajeet Das Gupta explains how automakers can get business in these uncertain times
 "Changes and challenges for automakers as India eases coronavirus lockdown")
Delays in port clearance to impact vehicle manufacturing, says SIAM
Delays in port clearance due to manual inspection of import consignments is expected to impact vehicle manufacturing in the country, Society of Indian Automobile Manufacturers (SIAM) said.
Bajaj Auto says Waluj unit running normally after reports of Covid impact
Firm admits it had its first case on June 6, but says it undertook testing, contact tracing, self-isolation and complete sanitation as per protocol
 "Bajaj Auto says Waluj unit running normally after reports of Covid impact")
Coronavirus impact: Toyota Kirloskar Motors sales dip 86% in May
There has been a significant surge in customer orders and enquiries online, through digital platforms, company official says
 "Coronavirus impact: Toyota Kirloskar Motors sales dip 86% in May")
Tata Motors to acquire Jayem Automotives stake in JT Special Vehicles
JTSV will become a wholly owned subsidiary of Tata Motors, following the completion of the procedural requirements
 "Tata Motors to acquire Jayem Automotives stake in JT Special Vehicles")
M&M plans to exit loss-making international subsidiaries in a year
The move is prompted by the steep impairment loss reported by the consolidated entity as SsangYong Motor (SYMC), its Korean subsidiary, and Genzee, its two-wheeler entity in the US, turned in losses.
 "M&M plans to exit loss-making international subsidiaries in a year")
Eicher Motors Q4 PBT down 45.5% on absorbing share of Rs 14 cr loss in JV
Total income declines 11 per cent to Rs 2,351.30 crore
 "Eicher Motors Q4 PBT down 45.5% on absorbing share of Rs 14 cr loss in JV")
Hero MotoCorp: Despite ops returning to normal, raising volumes a challenge
Company's prospects dented by lack of firm demand trend
 "Hero MotoCorp: Despite ops returning to normal, raising volumes a challenge")
Hero MotoCorp cuts capital expenditure for FY21 by 40% to conserve cash
Firm says retail uptick has been very encouraging; Hero hopes to clock 80% volume of what it was doing before the pandemic struck, in June
 "Hero MotoCorp cuts capital expenditure for FY21 by 40% to conserve cash")
About 90% of retail network have resumed operations: Royal Enfield
Royal Enfield said its facilities, offices and stores across India had remained closed in compliance with government guidelines between March 22 and May 5, 2020
 "About 90% of retail network have resumed operations: Royal Enfield")
