Page 36 - Auto Sector

Auto sector needs to expand R&D to create indigenise technology: Niti Aayog

Centre's think-tank Niti Aayog CEO Amitabh Kant believes that auto industry needs to ramp up R&D to create indigenise technology.

Indian auto, components sector shouldn't de-link from imports: Pawan Goenka

Interdependence will play an important role in global and domestic economies, he said adding "we should avoid any knee jerk reaction or ask for bans of imports or any such acts"

Auto sector can emerge as global hub, mustn't waste chance: Pawan Munjal

The COVID-19 pandemic presents an opportunity for the Indian automobile and components sector to become a global hub, thereby helping the country become self-reliant and such a chance must not be wasted, Hero MotoCorp CMD and CEO Pawan Munjal said on Saturday. Speaking at the annual session of Auto Components Manufacturers Association of India (ACMA), Munjal said the auto sector can also lead the way for other industries in India in responding to Prime Minister Narendra Modi's "clarion call" for Aatmanirbhar Bharat. "The silver lining in this pandemic is the Honorable Prime Minister's clarion call and push for an Aatmanirbhar Bharat -- I believe that going forward we, and our sector can be the growth engine for bringing alive Atmanirbhar Bharat, a self-reliant India, by all of connecting, communicating and collaborating on multiple fronts such as innovation, engineering and R&D," Munjal said. Stating that India's biggest advantage and key asset is its unique position of "having ...

Centre close to finalising automobile scrappage policy: Nitin Gadkari

The policy is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles

Javadekar hints at possible GST cut for vehicles to boost auto sector

Elaborating on the possibilities of the GST rate cut on vehicles segment, he said the details of the proposals are being worked out by the Finance Ministry and he is not privy to all the details

A Covid-19-hit auto industry pitches for incentives to revive demand

At SIAM's 60th annual conclave, the industry body's president blamed the sales slump on an overdose of regulations, liquidity issues and a slowing economy

Most Indians could consider buying Electric Vehicles by 2022: Report

Most consumers in India would consider buying an electric vehicle by 2022, but most of them also believe that it won't be until 2025 that the majority of new cars are electric, according to a study

Tractor sales remain strong in August with estimated 70% growth

Increase in Kharif sowing area, good monsoon, good rural cash flows and base effect among factors that have driven volumes

Two-wheeler makers hold out for GST rate cut, stocks of most firms rally

Companies are optimistic that if the proposal does get accepted by the GST Council, it will certainly push demand ahead of the festive season and add heft to the recovery underway

Covid-19 relief: Auto industry organises 7.5 mn face masks, 90,000 PPE kits

The industry has set up production capacities to arrange 60,000-plus ventilators and over 1,700 beds

Covid-19: June passenger vehicle sales dip 38% to 126,417 units, says FADA

Commercial vehicle sales plunged 83.83 per cent to 10,509 units as against 64,976 units in the year-ago period

Auto spare revenues may drop 11% as lockdown persists in 75 key districts

Crisil Research says the 75 districts together account for a huge chunk of automobile sales by OEMs and 46% of the automobiles sales in the country

Another lockdown will hit automakers hard, affect capex plans: CARE Ratings

Several state governments have been announcing lockdown again in select areas for different time periods to check the Covid-19 pandemic

Fresh investments in auto sector unlikely; long, dark period ahead: Siam

Wadhera said job losses in the auto sector cannot be ruled out

India's auto sales volume will take 3-4 years to recover: Industry body

Nifty auto index, which tumbled nearly 11 per cent in 2019, crashed over 31% in March

Bucking pandemic slowdown: June tractor production highest since Jan 2019

Timely arrival of monsoon, record Rabi crop as well as government support for agri initiatives helped tractor sales grow in an otherwise dull auto market

Auto industry bodies fear delay in imports clearance may impact production

Automobile industry bodies SIAM and ACMA expressed concern over import consignments from China being subjected to manual inspection

India plans incentives to double auto exports in next five years: Report

Govt wants to promote exports and has identified some sectors, including autos and textiles, for which incentive plans are being designed, said a senior government official

Tube Investments to focus on other businesses to reduce exposure to auto

Growth in these businesses will have to come from both organic and inorganic means over next 3-5 years, says firm's MD Vellayan Subbiah

FMCG firms bring jobs to small towns as markets show signs of revival

In contrast, auto companies and their dealers have not been that bullish with hiring, despite tractor sales increasing in May