Page 11 - Auto Demand

Kia Motors India appoints Tae-Jin Park as Executive Director, CSO

Kia Motors India (KMI) on Tuesday said it has appointed Tae-Jin Park as Executive Director and Chief Sales Officer with immediate effect. Park, who replaces Yong S Kim, will be responsible for driving Kia Motors' sales, marketing, service and network development in the Indian market, the company said in a statement. Kim is moving back to Kia Motors Corporation headquarters in Seoul. He had played an instrumental role in establishing Kia in India, setting up its sales network and contributed to positioning the brand amongst the top five automobile manufacturers in just four months of operations, it added. Commenting on the appointment, Kia Motors India Managing Director & CEO Kookhyun Shim said Park comes with immense knowledge of global markets and expertise in penetrating a new market. "We have witnessed a huge demand for Seltos in India and the love for brand Kia grows continuously. We are confident with Park's joining Kia will grow from strength to strength," he added. Shim ...

Slowdown pain spreads: Tata Motors, Ashok Leyland, Hero halt production

About 15,000 workers, mostly temporary and casual, out of work in auto making firms over past 2-3 months, 200,000 heads roll across dealerships

Commercial vehicle sales fall YoY, but grow MoM by 10-15% in Dec 2019

Ashok Leyland witnessed a rise in the sale of buses by 85 per cent to 2,560 units in December 2019 from 1,384 units, a year ago

Hyundai Motor sales down nearly 10% to 50,135 units in December

The company said its domestic sales were at 37,953 units in December 2019 as compared to 42,093 units in the same month previous year, down 9.8 per cent

Real growth story to start next festive season: M&M Finance MD Ramesh Iyer

RAMESH IYER, vice-chairman and managing director of the company, tells Shreepad S Aute that NBFCs may not be able to cover the fall in loan sanctions in the second half

After festive cheer, passenger vehicle sales hit the slow lane in November

Domestic passenger vehicle sales fell 0.84 per cent year-on-year (YoY) to 264,000 units in November, according to the data released by industry body Society of Indian Automobile Manufacturers

Now, BJP MP says auto-sector slowdown is a fabrication to 'defame' country

Virendra Singh Mast, the BJP MP from Balia, questioned the claims of slowdown in the auto sector and said there are many households in the country that have multiple cars and there is jam on streets

Auto-tech startups pave new road to growth even as sector suffers slowdown

The Indian car rental industry has grown at a CAGR of 24.6% during 2015-19 as new-age millennial consumers prefer experiences over ownership

Amid slowdown, steel companies reduce prices for automakers by 14%

A steel producer said lower prices would hopefully support the auto sector

Festive sales help passenger vehicles snap 11-month declining streak in Oct

UV launches, steep festival discounts bolster sales

Govt notifies scrapping policy, mandates discounts on junking old cars

OEMs, dealers to aid the collection of old vehicles, recyclable spares through the take-back scheme, or by setting up scrapping centres or through tie-ups with such facilities

Suzuki dials back on promise of India's auto market, and it is not alone

India's auto sector has gone into a tailspin this year as tight liquidity at shadow banks, high taxes and a weak rural economy have sapped consumers' buying power

Fintech firms hire 700,000 people who lost jobs in slowdown-hit sectors

The tenure of such jobs is about 6-8 months, with Amazon and Flipkart creating the primary demand for labour

Parliamentary panel to study automobile industry slump, seek revival steps

Committee overseeing work of the Ministry of Heavy Industries and Enterprises to explore a new format.

Agile, but not fragile: How business can strike the right balance

In the current market slowdown, companies can go too far in the pursuit of agility, threatening profits and operations and ultimately making themselves more fragile than they need to be

Auto-parts maker Pricol announces non-working days as industry slumps

The slowdown in the automobile sector has forced many manufacturers and component suppliers to cut production and plan temporary plant closures

Auto, construction sectors slowdown to drag non-ferrous metals demand

A forecast by ratings agency Icra notes that the consumption growths of aluminium, copper and zinc are slated to remain tepid in the range of 3-5 per cent

Car sales continue to slide in Sept despite heavy discounts and offers

Industry executives were optimistic about buyer enquiries, which have picked up, translating into sales as Diwali draws closer

Tata Motors reports 48% sales decline in September at 36,376 units

The company had sold a total of 69,991 units in the same month last year, Tata Motors said in a statement

Steel industry seeks booster for demand revival amid economic slowdown

Against this backdrop, says the industry, the corporate tax cut announced by the central government is not going to change much for now