Page 42 - Auto Sector

HMSI doesn't expect revival in auto industry for next two quarters

Honda Motorcycle & Scooter India on Wednesday said it does not see any revival in the automobile sector in the near term. The automobile sector recorded its worst-ever sales decline in two decades in 2019. Speaking after the launch of company's third BS-VI compliant product, the 110-cc Activa 6G scooter, Hero Motorcycle & Scooter India (HMSI) Senior Vice President for Sales and Marketing Y S Guleria said he was not very hopeful of the government giving any concession to the industry on GST rates. "If it happens, definitely it will help from customer point of view," he added. "In near future we do not see any positive revival coming in the market, and after sometime in the long term...But for next two quarters, we are not that upbeat because there is a transition which is going to happen from April 1," Guleria said referring to the BS-VI emission norms becoming mandatory. There will be some time lag and that will also shift the demand, he said, adding Honda is also trying to ...

New models, digitisation: How Audi plans to recoup lost ground in India

It will bring new models more frequently, expand service network and focus on digitalisation

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

Auto scrappage policy targeting CVs a way to start revival: Sajjan Jindal

If we are to become a $5 trillion economy, then we need at least 7 per cent to 8 per cent GDP growth, if not higher, says Sajjan Jindal

Auto component exporters may get benefit from US-China trade deal

Another trigger for the rally is the expectation of an improvement in the European auto market

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

Hero MotoCorp sales dip over 15% in November as scooter biz disappoints

Total motorcycle sales were at 4,79,200 units as compared to 5,43,982 units in November last year

Govt's sops for auto sector: Hero reiterates demand of cutting GST

Hero's stance brings to fore the difference between them and rival Bajaj Auto which wants a GST cut closer to BSVI norms kicking in

Launched in June, 15,939 units of MG Hector sold till December 2019

MG Motor is set to launch its second car and the first electric vehicle - MG ZS EV - in India this month

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

Lenders step up repossession of commercial vehicles on payment defaults

Data collated by the Delhi-based IFTRT shows that close to 50,000 commercial vehicles have been seized and are parked in the stockyards

Passenger vehicle production up 4%, signaling potential recovery in sector

Sales of passenger vehicles were only marginally lower in November at 263,773 vehicles, compared with 266,000 vehicles last year

Auto sector is in transition phase, no threat of job losses: Govt in RS

Union Heavy Industries Minister Prakash Javadekar said no closure of any automobile or ancillary manufacturing units has been reported in the past three years

Maruti raises production by 4% in Nov after 9 straight months of output cut

Production of utility vehicles such as Vitara Brezza, Ertiga and S-Cross increased by 18 per cent to 27,187 units as compared to 23,038 units a year ago

Citroen gears up for India entry next year, to start with metro cities

Set to kick off India journey next year, European auto major Groupe PSA is initially targeting ten cities for Citroen brand through smaller, yet highly digitised showrooms, with an aim to help its dealers to invest judiciously on premises, as per a senior company official. The company, which formally announced to enter the Indian market with Citroen brand early this year, is looking to create a seamless digital experience for prospective customers of its first model -- C5 Aircross SUV. "Through our network, we aim to bring in a digital disruption for a seamless customer experience," Citroen India Senior Vice President, Sales & Marketing Roland Bouchara told PTI. Prospective buyers will be able to research and chose model variants, transact for finance and insurance digitally, he added. With high digital intervention, the brand aims to have comparatively smaller sales outlets in the country. "Since we are setting up a new network, we are proposing a different business model to our

Automobile slowdown has shrunk GST compensation kitty, says Sushil Modi

The fund is used to compensate the states for revenue shortfall suffered due to roll out of the new indirect tax

RBI's policy surprise: Pause on rate cuts may hit real estate, auto sectors

Real estate developers were expecting a rate cut of 50 to 100 basis points

Downturn can be a blessing, best time to bring changes: Royal Enfield CEO

In the next 3-6 months, things should start to look-up, says Dasari

Maruti to hike prices from Jan; M&M, Toyota, Mercedes may follow suit

Other car manufacturers such as Toyota, Mahindra & Mahindra and Mercedes-Benz said they are also contemplating a similar move

Steel sector growth to slow down on weak auto, manufacturing order: Moody's

Soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Korean demand will soften because of the sluggish construction and auto sectors.