Page 42 - Auto Industry

Coronavirus lockdown: Auto volumes hit slow gear, could witness 50% decline

While sales of passenger vehicles and two-wheelers were expected to fall 40-50 per cent, sales of commercial vehicles are expected to dip 70-90 per cent.

'Auto components industry taking a hit of around Rs 1,200 cr/ day'

Auto component manufacturers, especially the tier-2 and tier-3, are facing severe hardship on cash flow front, which if not immediately addressed will lead to insolvency of several companies.

Motherson Sumi to Tata Motors: Europe slowdown to hit auto sector hard

Motherson Sumi, Apollo Tyres and Tata Motors to be among the worst affected because of high exposure

Auto industry well prepared to deal with coronavirus impact: Mercedes-Benz

Schwenk referred to tsunami that hit Japan in 2011, as an example, saying its ripple effects were felt at the time in the entire global auto industry.

Auto industry has potential to grow at CAGR of 5% through 2026: Report

The SUV segment currently accounts for 26 per cent of total car sales in India

Budget lacks immediate measures to revive ailing sector: Auto industry

The industry however lauded the government's initiative to increase customs duty on imported electric vehicles

Auto industry seeks bold fiscal measures in the Budget to revive growth

In the upcoming Union Budget, the auto industry has sought measures, such as reduction in GST rates on vehicles and abolition of duty on import of lithium-ion battery cells, to encourage electric mobi

Auto sector records worst-ever sales decline in two decades in 2019: SIAM

Overall wholesale of vehicles during the year across categories, including passenger vehicles, two-wheelers and commercial vehicles, saw a decline of 13.77 per cent in 2019 at 2,30,73,438 units

Volkswagen plans to launch four SUVs in India over next two years

Volkswagen Passenger Cars India Director Steffen Knapp said the company understands the rapidly changing preferences of Indian consumers

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

Auto industry yet to submit study to Niti Aayog on EV transition

Tata Sons Chairman N Chandrasekaran had also stated that migration to EVs needs to be planned to ensure that the entire ecosystem is ready through a multi-year road map.

After a bumpy ride in 2019, auto industry may see revival in H2FY21

Despite challenges, 2019 saw new brands coming in, mergers and partnerships as well as slew of launches

Battered by slowdown, auto industry pins hopes on 2020 for turnaround

Industry body Society of Indian Automobile Manufacturers (SIAM) expects things to turnaround in 2020-21

Explained: How the past decade redefined business for automakers in India

As city SUVs gained in popularity, premium sedans saw their sales wane and some products even got yanked from the market altogether

Auto industry needs to clock 14% growth for $5 trillion economy: M&M MD

India has set an ambitious target of $5 trillion in the next five years and 12 per cent of it is expected to be contributed by the manufacturing sector

Car sales drop again after festive season; industry pins hope on Dec demand

Maruti Suzuki reported sales of 150,630 passenger vehicles in the domestic market in November, down 1.9 per cent over 153,539 units in the corresponding month last year

Gadkari urges carmakers to focus on cleaner-fuel vehicles, promises support

Gadkari also stressed the need for diversifying agriculture towards power and energy to meet the goal of bio-fuel generation

Mahindra group going slow on niche-segment hiring as auto slowdown bites

'Fresh hiring will be limited. If a huge growth comes then we have to do a lot of hiring', the company said

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

UV launches, steep festival discounts bolster sales

Maruti Suzuki 'cautiously optimistic' over sales prospect in coming months

The country's largest car maker Maruti Suzuki India (MSI) remains 'cautiously optimistic' over sales prospect going ahead as many of the challenges that led to slowdown in the auto industry still exist, a senior company official has said. The company, which posted a growth in domestic passenger vehicle sales after seven months in October, said it would take at least few more months to get clarity if the industry is finally on a revival path. "We are cautiously optimistic. The reason why we are cautious is that we do not have a crystal ball. Many of the factors like high cost of acquisition, confusion related to BS-IV and BS-VI, issues related to finance norms and liquidity etc, continue to be there," MSI Executive Director (Marketing & Sales) Shashank Srivastava told PTI. He was replying to a query whether October sales were an indication of revival of the industry which has been grappling with demand slowdown for almost a year now. "We are optimistic a little bit because the ...