Page 75 - Automobile Industry

Despite challenging economic environment, Bharat to drive Maruti's sales

Rural buying 41% of the total during Apr-Aug

TVS Motor expands ops in Colombia, announces partnership with Auteco SAS

Autotecnica Colombiana SAS will operate 50 exclusive dealerships exclusive of TVS Motor Company and will create dedicated space for the brand in over 600 retail outlets

Will invest Rs 2,000 crore in India: Toyota Kirloskar Motor vice-chairman

High GST rates taking a toll on volumes, says Viswanathan

We continue to remain committed to India operations: Toyota Kirloskar Motor

The statement follows a Bloomberg report which said that Toyota did not plan to expand further in India

GM encouraged by global recovery, will prefer long-term strategy: CEO

GM also is not looking for "a short-term pop" as it relates to its corporate structure, CEO Barra added, when asked about a possible spinoff of the automaker's electric vehicle assets

Toyota Motors halts expansion plans in India, blames high tax regime

Toyota, one of the world's biggest carmakers, began operating in India in 1997. Its local unit is owned 89% by the Japanese company and has a small market share

Tax, high interest rates hurdles for growth of auto industry: Force Motors

The company, which makes commercial vehicles under the Traveller brand and utility vehicle Trax, said the situation calls for a very detailed and thorough reform

Auto component industry seeks long term roadmap for regulatory changes

The industry, which accounts for around 2.3 per cent of the country''s GDP, has been struggling of late due to a prolonged downturn in the auto industry as a whole and due to Covid-19 situation

Moped sales see highest growth in segment in August since lockdown

Moped sales have turned around since June on the back of good monsoon and positive sentiment in the rural market

Auto sales rebound in August after nine months due to pent-up demand

Two-wheeler sales increased by 3 per cent to 1,559,665 units, while passenger cars grew 14 per cent YoY to 124,715 units

Auto component firms eye higher exports, low imports to become self-reliant

Top official at various auto component firms said exports, which anyways have been intrinsic to the overall strategy, will increase at a rapid pace over the next two to five years

Little gain from Kamath Panel proposals, say auto dealers, component makers

They say average current ratio for industry is 0.8-0.9 due to two-year distress, so meeting the suggested ratio of 1 will be difficult for many

Telecom, automobile companies lead earning downgrades, shows data

The financial sector has seen earnings downgrade of nearly 30 per cent amid uncertainty over NPAs build-up

Need long-term roadmap to improve automobile contribution to GDP: NRI India

A long-term regulatory roadmap is required for the automobile industry to grow and increase its contribution to GDP to 12 per cent from the current 7 per cent

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

Auto sales bounce back in August on low base effect, pent-up demand

Dispatches at India's top two car makers, Maruti Suzuki India and Hyundai Motor India, zipped past not only the pre-Covid phase but also the months preceding the pandemic

Maruti Suzuki car sales recover in August; up 20% YoY to 116,704 units

Maruti's exports during the month skidded 15.3 per cent to 7,920 units over the last year

No freebies, cash discounts to cheer car buyers this festive season

Auto majors focus on finance schemes, enhanced digital experience instead

Varroc rides high on sharp auto recovery, strong order book hopes

Jump in European electric car sales, better utilisation of facilities should help improve sales and profitability

Indian automakers' demand outlook cloudy despite respite in July: Fitch

The pandemic has also reduced the availability of financing as lenders exercise caution, particularly to weaker borrowers that form a significant customer base for CVs