Page 9 - Auto Industry

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

Maruti to Tata Motors: Auto companies start passing on GST cut to buyers

Maruti's Alto could see a price drop by ₹40,000-50,000, while the entry-level Wagon R may see reductions between ₹60,000 and ₹67,000

Citroen to double India market share in 3 months with Basalt X SUV

Citroen eyes stronger India play with Basalt X SUV, aiming to double market share in three months while exports from Thiruvallur are projected to cross 10,000 units in FY26

GST cuts fuel festive demand: Cars, bikes and gadgets set for sales boom

Electronics and auto makers raise output after GST cuts, expecting higher festive sales as small cars, two-wheelers, TVs and ACs turn cheaper from September 22

GST cuts boost auto sector, dealers hope for quick cess resolution

Auto dealers expect a boost in the second half of FY25 following GST cuts on vehicles and parts, which aim to improve affordability

GST cut makes cars, bikes, tyres cheaper, Diwali comes for Auto Inc

GST Council cut rates on small cars, bikes, SUVs and tyres, slashing levies to 18% and rationalising slabs, a move hailed as transformative for the auto industry

PV sales decline 7% in August as buyers await GST rate cut decision

Domestic passenger vehicle sales dropped 7.3% in August to 330,000 units as buyers and automakers awaited GST Council reforms, with Maruti Suzuki and M&M reporting weaker volumes

Ceat completes acquisition of Camso, to invest $171 mn in Sri Lanka

The investment is aimed at expanding manufacturing capacity for off-highway tyres (OHT) and tracks at the Midigama and Kotugoda facilities

Renault names Katrin Adt as Dacia head in top management overhaul

Renault is tapping Katrin Adt, a longtime Mercedes-Benz Group AG executive, to succeed Denis Le Vot as head of the popular Dacia brand

Cut GST on automotive tyres, don't treat them like luxury goods: ATMA

Automotive Tyre Manufacturers Association on Monday sought a reduction of GST rates on tyres for automobiles to 5 per cent from the current 28 per cent, while asking the government not to treat it on par with luxury goods, citing its cost impact on key sectors such as transportation, agriculture, mining, and construction. At present, all major categories of automotive tyres attract GST at 28 per cent, the highest tax slab, whereas tractor tyres and aircraft tyres are taxed at 18 per cent and 5 per cent respectively, Automotive Tyre Manufacturers Association (ATMA) said in a statement. In sectors such as transportation, agriculture, mining, and construction, where tyres form a significant component of operating expenditure, a lower GST rate of 5 per cent would provide meaningful relief to small traders, farmers and enterprises that rely on affordable transportation. The tyre makers' body further said lowering of GST on automotive tyres would directly reduce vehicle operating costs an