Auto Industry | The Asian Age

Thursday, Apr 25, 2024 | Last Update : 11:09 AM IST

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Passenger vehicle sales in July fell at the fastest pace in nearly two decades.

Auto companies in India cut more jobs, halt production to tackle slowdown

Automakers, component manufacturers and dealers had already cut 350,000 jobs.

23 Aug 2019 9:23 AM

Prime Minister Narendra Modi has been working to push electric vehicles in an effort to cut India’s fuel import bill and curb pollution.

Govt has not set deadline to launch electric vehicles: official

Auto industry has been caught in the middle of slowing economic growth that has led to a slump in demand for vehicles.

21 Aug 2019 2:06 PM

The local assembly cum manufacturing operations will lead to significant tax savings for Mahindra Ideal Lanka, which is hoping to price the KUV100 below 3.2 million Sri Lankan Rupee (INR 12.85 lakh).

M&M says fiscal stimulus needed for India's auto industry

M&M's Managing Director Pawan Goenka said that the auto maker has retrenched about 1,500 temporary workers since April 1.

18 Aug 2019 3:57 PM

Modi had asserted that India has a large enough market and big enough policy space to ensure growth of both internal combustion engine vehicles and EVs

Auto industry hails PM's assurance on co-existence of conventional engine vehicles

Auto industry has been opposing proposal by Niti Aayog to push for full conversion to EVs for ICE three-wheelers by 2023.

14 Aug 2019 5:06 PM

Tata Motors saw its sales going down by 34 percent to 32,938 units.

The flip side to the ongoing recession in the Auto Industry!

Maruti Suzuki India reported a sixth consecutive monthly sales to decline with the numbers falling 33.5 per cent.

13 Aug 2019 8:50 AM

The auto sector contributes more than 7 per cent of India’s GDP, is facing one of its worst downturns.

Indian auto executives seek tax cuts, easier finance access to revive sales: sources

Executives from across the sector also asked the government to provide incentives to scrap old vehicles.

08 Aug 2019 9:18 AM

I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose, said Mahindra group chairman Anand Mahindra addressing the company's shareholders at its 73rd AGM. (Photo: File)

'Cut taxes or rollback cess as auto gloom deepens': Anand Mahindra

As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal.

07 Aug 2019 6:54 PM

Yes, we have asked for certain enablers for the auto industry and they have thought on it. I am very hopeful that there will be a stimulus package (for the auto industry) coming soon, said Society of Indian Automobile Manufacturers President Rajan Wadhera.

Auto industry seeks stimulus package from government

In a meeting with Finance Minister, industry representatives drew attention to challenges faced by the auto industry.

07 Aug 2019 5:09 PM

Two-wheeler and three-wheeler makers had expressed concerns over proposal to shift to 100 per cent EVs.

Auto industry to conduct study on EV migration, to discuss with govt

Migration to EVs needs to be planned to ensure entire ecosystem is ready through a multi-year road map.

11 Jul 2019 3:56 PM

The Indian auto industry, the world’s fourth largest and Asia’s third biggest, with two-wheelers segment dominating the market, continues to move in reverse gear.

Auto industry demands stimulus

Auto industry has been de-growing for the past 4 quarters. Customer sentiments remained low due to the overall slowdown in economic growth.

03 Jul 2019 7:14 AM

I'm biased, of course, but the auto industry is one such 'Mandara'. It has a huge multiplier effect on small companies & on employment. Lowering GST would help, tweeted Anand Mahindra.

Lowering GST on automobiles would help the economy: Anand Mahindra

Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.

26 Jun 2019 1:36 PM

A reduction in the GST rates would go a long way in maintaining the price competitiveness of the industry.

Auto industry united in seeking GST rate cut on vehicles: SIAM

Commercial vehicle as well as two and three-wheeler manufacturers are united in seeking lower GST on vehicles.

22 Jun 2019 11:56 AM

The automakers sold a total of 3,01,238 units in May 2018, the latest data from the Society of Indian Automo-bile Manufacturers, or Siam, said on Tuesday.

Auto industry seeks support as car sales see sharpest decline in 18 years

Total two-wheeler sales in May declined 6.73 per cent to 17,26,206 units versus 18,50, 698 units a year ago.

12 Jun 2019 2:30 AM

While India's highly evolved auto industry may drive out of tough times quickly as demand rises, what the drop represents is a dip in general consumption that should worry economists. (Representational image)

Handle economy with care

The nation has moved on from demonetisation but the GST system needs a serious rethink, specially about the higher slabs.

17 May 2019 1:41 AM

Auto industry body SIAM on Thursday asked the government for long-term policy for promoting electric mobility in the country, saying absence of such guidelines is not helpful to the industry to plan future investments.

SIAM seeks long-term govt policy on electric vehicles, lower taxation

Abhay Firodia regretted the government's decision to stay away from framing an electric vehicle policy.

06 Sep 2018 12:41 PM

SIAM said GST rate for all EVs may be brought down from 12 per cent to 5 per cent and road tax be fully exempted. (Representational Image)

EV drive: SIAM for 5 pc GST, tax deduction for individual buyers

Auto industry body has proposed all new vehicle sales in India to be pure electric by 2047.

25 Dec 2017 12:13 PM

Automobile industry had approached the GST Council and government seeking to reconsider keeping the category at 28 per cent plus 15 per cent cess.

Expect auto demand to rise in short term after GST: Goenka

Growth in the auto industry would depend on other factors such as interest rates on vehicle loans.

06 Jul 2017 4:06 PM

Pre-GST sale may drive up car sales by 12-15 per cent

Brands like Hyundai, Maruti Suzuki, Nissan, Ford, Mahindra are offering discounts, in an attempt to clear their existing stocks.

23 Jun 2017 2:40 PM

The used car market is much bigger with around 40 lakh cars transacting per year and it is growing aggressively at 20-25 per annum, year on year.

Cash deal ban to help auto finance

This will help the many second-hand car businesses to expand by getting loans from mainstream lenders.

13 Feb 2017 6:39 AM

A few announcements in the 2017 budget do affect the Indian automobile industry.

Budget 2017: Little Impact on Auto industry

2017 budget didn't include anything to have a drastic impact on car buyers or automakers.

03 Feb 2017 1:19 PM

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Dilip Cherian