Page 44 - Auto Industry
Covid-19 impact: Mexico, Brazil see 99% plunge in auto production in April
In normal times, the combined number of cars produced by Mexico and Brazil every month is half a million
 "Covid-19 impact: Mexico, Brazil see 99% plunge in auto production in April")
Covid-19 outbreak: India Inc plays safe, despite lockdown norms being eased
Demand slump, labour shortage put a damper on ramp-up
 "Covid-19 outbreak: India Inc plays safe, despite lockdown norms being eased")
Coronavirus outbreak: Passenger vehicle sales plunge 51% in March
Two-wheeler sales saw a decline of nearly 40%, says Siam
 "Coronavirus outbreak: Passenger vehicle sales plunge 51% in March")
Working capacity at 25% may be unviable as industry awaits end of lockdown
Auto component vendor Nippon Paint India said that at 25 per cent capacity, it will not even meet plant overhead costs, leave alone company overheads.
 "Working capacity at 25% may be unviable as industry awaits end of lockdown")
Coronavirus supply chain shock for auto component sector, says ICRA
The COVID-19 supply chain disruptions will manifest into a demand shock lasting multiple quarters for the domestic industry, ICRA said in a statement.
 "Coronavirus supply chain shock for auto component sector, says ICRA")
From BMW to M G Motor, auto brands shift gears on the virtual highway
Specific tailored marketing pitches using first party data, smoother payment and financing processes and digital launches are among the ways in which auto majors are keeping their brands in the game.
 "From BMW to M G Motor, auto brands shift gears on the virtual highway")
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.
 "'Auto components industry taking a hit of around Rs 1,200 cr/ day'")
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
 "Motherson Sumi to Tata Motors: Europe slowdown to hit auto sector hard")
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 well prepared to deal with coronavirus impact: Mercedes-Benz")
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
 "Auto industry has potential to grow at CAGR of 5% through 2026: Report")
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
 "Budget lacks immediate measures to revive ailing sector: Auto industry")
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 industry seeks bold fiscal measures in the Budget to revive growth")
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
 "Volkswagen plans to launch four SUVs in India over next two years")
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
 "Slowdown pain spreads: Tata Motors, Ashok Leyland, Hero halt production")
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
 "Battered by slowdown, auto industry pins hopes on 2020 for turnaround")
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
 "Explained: How the past decade redefined business for automakers in India")