Page 7 - Auto Industry

Auto discounts may shrink as GST reforms set to spur demand: Report

Anticipating a recovery in demand and improved earnings, Motilal Oswal has raised its FY26 and FY27 volume growth projections across all key automobile segments

GST reform widens price gap; EV makers may face heat in festive season

Price cuts on petrol, diesel and CNG cars after GST reforms have widened the gap with EVs, making electric models less attractive to buyers in the near term

Hyundai plans $55.8 billion push, aims to double US local production

Hyundai Motors plans to raise output to 6.2 million vehicles by 2030. The carmaker has trimmed FY25 profit outlook due to US tariffs, but will press ahead with expansion plans

Maruti Suzuki cuts prices by up to ₹1.3 lakh after GST rate slash

Maruti Suzuki cut prices by up to Rs 1.3 lakh across models after GST rationalisation, aiming to boost festive demand and encourage two-wheeler owners to upgrade to cars

China's SAIC to cut stake in India car venture, freeze new investments

SAIC is not pulling out of India but wants to dilute its stake in JSW MG Motor significantly and will continue to provide technology and products for the venture

From subsidies to surplus: How China's car boom spiralled into oversupply

Inside China's spiralling auto industry crisis is the problem of surplus. Factories are churning out more cars than buyers want, leading to heavy discounts and abandoned vehicles

PV production fell 4.1% in August as OEMs cut dispatches to dealers

Passenger vehicle production and dispatches fell in August as demand weakened after GST 2.0, while two- and three-wheeler sales recorded strong growth, led by scooters and SUVs

80% automakers face launch delay due to late-stage engineering changes

Changes should drop To fewer than 15% in pre-production, 8 % or less in production post-launch

India's auto-component industry to touch $200 bn by 2030: McKinsey

Domestic autocomp sales are projected to grow 7-8 % per annum until financial year 2030

Auto Inc seeks closer ties with Centre for critical raw materials

It is working on a plan to secure supplies for next two-three quarters

Auto bodies seek closer cooperation with govt to secure key raw materials

Auto industry bodies on Friday stressed on the need for closer cooperation with the government to secure critical raw materials such as rare earth magnets, and technologies amid shifting geopolitical alignments and evolving trade agreements. The industry has a shared resolve to transform challenges into opportunities and position India as a reliable and competitive global hub for mobility components while navigating geopolitical challenges, creating a resilient automotive supply chain in India, ACMA President Shradha Suri Marwah said. In her address at the annual session of Automotive Component Manufacturers Association of India (ACMA), she said, "Critical raw materials, the availability of rare earth magnets, semiconductors and battery inputs is becoming a strategic issue that requires national focus." Marwah further said,"We stand at crossroads where opportunities are immense but challenges are daunting to allude to, some of them, geopolitical volatility, trade wars, tariff ...

Small SUV segment may see maximum growth after GST relief: Hyundai COO

Hyundai COO Tarun Garg said the small SUV segment, already the biggest in India, could see maximum growth after GST cuts, aided by urban demand, pay hikes and rising aspirations

Auto industry must pursue self-reliance, green growth: PM Modi at Siam

PM Modi asked the automobile industry to align with sustainable mobility and global leadership in green transport, stressing self-reliance across the value chain

India's automobile industry is on threshold of transformation: Minister

India is now among the fastest-growing electric vehicle markets in the world, as over 1 million EV units were sold in the country in 2024-25, Union Minister HD Kumaraswamy said on Wednesday. The minister for heavy industries and steel asserted that India's automobile industry is on the threshold of transformation, transitioning from internal combustion to clean mobility, and from the domestic market to global aspirations. "In 2024-25, India sold over one million electric vehicles, with electric two-wheelers growing 21 per cent and electric three-wheelers growing 57 per cent. India is now among the fastest-growing electric vehicle markets in the world," Kumaraswamy said. The minister made the remarks while delivering a video message at the Auto Retail Conclave organised by the Federation of Automobile Dealers Associations (FADA) here.

GST reforms: Fada urges PM Modi to resolve compensation cess issue

FADA has urged PM Modi to address compensation cess rollover ahead of GST 2.0 rollout, warning that auto dealers face a Rs 2,500 crore hit and liquidity stress this festive season

Mahindra's August sales see slight decline; exports increase marginally

The GST on small cars was reduced to 18% from 28%, owing to which the prices of vehicles have dropped significantly, thereby dragging the sales

Automakers asked to display GST price posters at all dealerships

Executives at automobile firms are now getting posters designed and sending them to the ministry for approval before sending them to print for display

Indian auto stocks add $33 bn in value as GST cut boosts demand, profits

BSE Ltd's measure of 20 auto firms has added about $33 billion in market value since August 15 when Prime Minister Narendra Modi first announced the government's plan to lower goods and services tax

Volkswagen in advanced talks with US for investment deal amid tariff woes

Chief Executive Oliver Blume hoped for a quick solution "because we need to take decisions right now for localising our business there," he said

Hero MotoCorp appoints Harshavardhan Chitale as CEO, effective Jan 2026

Ex-Signify and Philips executive Harshavardhan Chitale to succeed Vikram Kasbekar as Hero MotoCorp CEO