Page 46 - Auto Sector

Auto sector slowdown: Anand Mahindra calls for short-term booster dose

I believe the government's measures to push the auto industry towards change are sincere and far-sighted, Mahindra said

Auto industry leaders meet FM, seek stimulus package to spur demand

According to a source, the government wanted to understand from the industry about the reasons of the ongoing slump in demand

Anand Mahindra pitches for lower GST or cess rollback to revive auto sector

Pitching for a lower GST or a rollback of the cess to pull the automobile industry out of the slowdown, M&M group chairman Anand Mahindra on Wednesday said that a revival of the industry would have a ripple effect on the entire economy. The domestic auto industry has been in the throes of crisis for almost one year now as the sales are falling month after month, forcing manufacturers to temporarily shut factories and laying of workers. As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal. "I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose," said Mahindra addressing the company's shareholders at its 73rd AGM here. Along with long-term measures, the short-term measures also required that would remove the immediate barriers to making autos affordable, he said. "The most obvious and welcome first aid would be some temporary relief on the GST front, ...

As crisis deepens, auto industry seeks stimulus package from govt

Auto industry leaders on Wednesday asked the government for a stimulus package, including GST reduction on vehicles, for the sector which has been hit by an unprecedented slump in sales. In a meeting with Finance Minister Nirmala Sitharaman, industry leaders, including Maruti Suzuki Chairman R C Bhargava, M&M President - Automotive Sector Rajan Wadhera, who is also president of SIAM, along with representatives from components sector body ACMA and dealers body FADA drew attention to the challenges, including job losses, faced by the industry. "Yes, we have asked for certain enablers for the auto industry and they have thought on it. I am very hopeful that there will be a stimulus package (for the auto industry) coming soon," Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera told PTI. The government wanted to understand from the industry about reasons for the slump in demand and possible solutions to the issue, he said, adding that the heavy industries ...

Mahindra warns of job losses in auto sector, seeks government's help

A slump in sales is also triggering massive job cuts in the sector that employs 35 million people directly and indirectly

India's auto crisis deepens, tens of thousands losing jobs: Report

To revive the sector, auto executives plan to demand tax cuts and easier access to financing for both dealers and consumers

PVs best placed in auto sector; Maruti is favoured pick in the listed space

The auto sector has been the worst performer among sectoral indices over the last year, shedding 34.5 per cent, while the Sensex and the Nifty were down marginally

Replacement segment gives smooth ride to Apollo Tyres amid auto slowdown

Slowing auto sales, higher commodity costs remain major areas of concern

SBI tightens lending terms for auto dealers as sector sees downturn: Source

As part of the revised terms, the country's largest bank by assets has decided to halt lending to dealers of Hyundai Motor India unless they provide a minimum of 25% collateral

Next 6 months will be volatile for auto sector over BS-VI shift: MRF CMD

Indian automotive industry is at an inflection point where both opportunities and challenges abound in equal measure

Beating the downturn: Car buyers lap up new SUVs amid gloom and doom

If the response to three new launches - the MG Hector, Hyundai Venue, and Mahindra XUV3OO, all launched this year - is any indication, buyers of cars are snapping them up

Maruti Suzuki slashes production by 16% in June, posts fifth cut in a row

The car market leader had cut total production by over 18 per cent in May

Utility vehicles array in auto market as India's aspirations rise

Compact SUVs lead the charge in this segment, far ahead of growth in the others

Domino effect of auto crisis: Livelihoods, India's GDP growth may take hit

35 million jobs at stake with India's automobile sector in trouble, components business could be impacted as well

Selective buying in auto sector

But it may be a very long haul before the industry sees a stable recovery

Are Maruti, Tata Motors and M&M good bets post their Q3 earnings?

Most analysts expect slowdown in the auto industry to continue due to lack of pick-up in rural demand on account of liquidity crisis in NBFC and higher monsoon deficit in select regions.

New vehicle registration up 8.5% to 1.5 million in January: Dealers

Passenger vehicle sales reported nearly 33.97 per cent growth, which is almost double compared to the past

Nissan India, Tata Motors expect near-flat industry growth in FY19

Nissan launch its electric car 'Leaf' in the next six months, Thomas Kuehl said, adding, all the models would conform to the BS-VI emission standards

Rely on auto sector

With many stocks hitting 52-week lows, this could be a good time to enter. But be prepared to hold for two-three years

Once a hot favourite, mid-sized sedans grapple with shrinking sales

H1 offtake down 7% to 83,498 vehicles; Honda City and Maruti Suzuki Ciaz see a double-digit decline