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Commerce and Industry Minister Piyush Goyal on Monday said all European carmakers would prefer to manufacture in India, as producing vehicles there would be uncompetitive due to the region's regulations. Goyal said India is going to become a global car manufacturing hub. "Finally India is going to become the global hub for car manufacturing. Everybody is going to come and manufacture in India and with Europe having such crazy regulations, it is going to be impossible to be competitive. All the European manufacturers will come to India," he said at The Dilli Dialogue here. India has provided quota-based tariff concessions to the UK and the European Union (EU) in free trade agreements. The pact with the UK was operationalised on July 15, while the deal with the EU is likely to be signed by the end of this year. "I do not know if you are aware. Tatas had so much trouble after they bought Jaguar. Tata Motors itself was going to collapse and then they put in a lot of re-engineering, an
The Indian automobile industry is staring at a hit of about Rs 25,000 crore on bottom line for FY26 with the Environment Protection (End-of-Life Vehicles) Rules 2025 triggering an accounting standard clause that requires automakers to make budgetary provision for environmental compensation for vehicles sold in the past. According to industry executives, an "innocuous looking" clause in the Environment Protection (End-of-Life Vehicle) Rules, 2025 notified by Ministry of Environment, Forest and Climate Change, in January 2025 has spooked automakers after their auditors flagged the magnitude of its ramifications. The "Rule 4 (6)" of the January 2025 notification states, "In case the producer stops its operations, the producer must comply with its Extended Producer Responsibility (EPR) in respect of vehicles already made available in the market till closure of operations..." "This rule triggers accounting standard IND AS 37, ' Provisions, Contingent Liabilities and Contingent Assets', .
Carmakers began the new fiscal on a strong note, with an estimated 4.5 lakh units of passenger vehicles sold in April in the domestic market, up 27 per cent, on the back of record sales by firms, including Maruti Suzuki, Hyundai and Kia. The industry continued to benefit from the tailwinds of GST 2.0 carried forward from the second half of last fiscal, along with repo rate cut and income tax benefit, Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee said. Passenger vehicle (PV) sales in the domestic market were 3.54 lakh units in April last year. Maruti Suzuki India posted a record domestic sales of 1,91,122 units in April compared to 1,42,053 units in the year-ago month. Its previous highest domestic sales were in December 2025 at 1,82,165 units. "We are starting this year with a big bang. Small cars have contributed significantly to this growth," Banerjee told PTI. The company's small cars, comprising Alto, S-Presso, Celerio and WagonR, grew 74.4 .
Vietnamese electric carmaker VinFast on Wednesday said it will offer multiple product options addressing different segments in India as it reiterates its commitment to the country. The company launched its all-new premium electric, seven-seater multi-purpose vehicle VF MPV 7 priced at Rs 24.49 lakh (ex-showroom India). "With the VF MPV 7, we are entering a new segment, but more importantly, we are expanding our commitment to India," VinFast India CEO Tapan Ghosh said at the launch of the new model. Noting that the VF MPV 7 seven is designed for modern Indian customers to move together with family or friends, he said the new model is also a signal of where VinFast is headed in India. "We are here to offer multiple product options to Indian customers for their varied mobility needs," Ghosh said. VinFast has been accelerating expansion of its retail and service network across India with a target of 75 showrooms nationwide by the end of 2026, up from the current 50 touchpoints, Ghosh