Page 43 - Auto Industry

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 ...

Commercial vehicle sales declined 23% in the first half of FY20: SIAM

SIAM said the slowdown in the commercial vehicle segment might continue in Q3FY20 owing to the implementation of various regulations

With half their fleet idle, transporters feel the pinch of auto slowdown

Some fleet owners are even considering selling some trucks to tide over the slowdown

Top 10 biz headlines: No GST relief for auto cos, opposition to RCEP & more

From chances of the auto industry having to wait longer for a GST rate cut on cars to Maruti Suzuki planning to lease 100 sales outlets to car dealers, here are the top business headlines for Monday

Auto industry may have to wait longer for GST cut on cars from 28% to 18%

Will be a political call now; state finance ministers to decide on September 20

Used car market on growth track, but auto crisis casts a shadow

Analysts and industry representatives fear that the slowdown in new car sales could have a spillover effect on the used car market

Auto industry fears collapse, Nitin Gadkari offers comfort at mega meet

With auto sales sliding for over 13 months now, industry captains went all out to demand a cut in goods and services tax as the only way to revive demand

Indian auto industry growth story about to collapse: Tata Motors MD

Welcoming the recent steps taken by the government, Butschek hoped for things to turn around, although the road ahead is still challenging

No plan to ban petrol, diesel vehicles: Gadkari allays auto sector fears

Gadkari said he would take up a discussion with the finance minister for extending possible export incentives on automobile makers, as has been done for the sugar industry

GST Council may cut tax on hybrid vehicles as auto sector battles slowdown

The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%

Slashing GST rate can help bring back growth in auto industry: Hyundai CEO

CEO Kim said such a positive step was necessary under the current circumstances in order to make "people come forward"

'Part of the business': Maruti says 3,000 temporary jobs cut in slowdown

Maruti chairman R C Bhargava wants the government to reduce taxes to help the automobile industry

Slowdown impact: Ashok Leyland starts staff separation schemes to cut cost

The company had earlier said it was implementing cost-cutting measures to save around Rs 500 crore to mitigate the impact of slowdown in the market

Auto industry unanimous on its demand for GST cut to 18%, says SIAM

SIAM said Hero MotoCorp Chairman Pawan Munjal had also emphasised on this point on immediate GST reduction at the meeting with finance minister Nirmala Sitharaman

Slowdown in auto sector has impacted steel sector: Tata Steel CEO Narendran

The demand for steel in India has to pick up and that depends a lot on construction and automobile sectors, he added

Slowdown in auto industry casts shadow on motor insurance segment

In FY19, the motor insurance segment saw 9 per cent growth, with premium collection at Rs 64,000 crore against Rs 59,000 crore in FY18

Nearly 30 new car, 20 two-wheeler launches lined up till March 2020

Rise of the millennial population, increasing disposable income and availability of innovative mobility solutions will drive the market

Auto industry seeks govt intervention as PV sales skid to decade low

The passenger segment is the most valuable for the industry and a slowdown indicates Indian consumers are holding back purchases

Auto retail sales drop 8.06 % in Feb as weak demand continues: FADA

High inventories put pressure on working capital

One car every 20 seconds: Tamil Nadu mantra to attract auto investments

Chennai has a total installed capacity of 1.46 mn cars, 218,000 heavy vehicles, and 4.82 mn two-wheelers, according state government data