Veejay Nakra, CEO M&M (Auto Div) remains bullish on demand for passenger vehicles for the next 3-4 months. He also feels vehicle subscription and rural markets will drive sales and remain the main silver lining in this time of crisis. Watch excerpts of his interview with ET Auto Editor Nabeel A Khan
Bajaj Auto says that it will have to bring in paycuts if the lockdown is imposed on the Waluj plant in Aurangabad due to production cuts that will result from the lockdown. Here's ET NOW's Uttkarsh Chaturvedi with a report.
New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) is seeing better demand in rural areas due to less number of COVID-19 cases as compared with urban regions which continue to reel under the high number of cases of the infectious disease, as per a senior company official. Buying sentiment in rural areas is also better due to good initial spells of rains in June which has led to better sowing of the kharif crop.
A slew of reports earlier today came in, claiming that 79 employees at Bajaj Auto's manufacturing factory have tested positive for the coronavirus. Bajaj Auto has released a statement denying the reports; it clarified that the Waluj plant is operating as expected. ET NOW's Uttkarsh with more details.
SIAM President Rajan Wadhera and ETAuto.com Editor Nabeel A. Khan talk where does the Indian auto industry stand amid COVID-19, learnings and how to press the restart button, in this virtual fireside chat. Watch now.
The $57 billion Indian automotive component industry - which was already suffering from a prolonged slowdown - had been struck hard by coronavirus-induced lockdown. Has FM Nirmala Sitharaman's stimulus package done enough to assuage their concerns? Watch excerpts from the ETAuto.com panel discussion on 'Can automotive component makers weather the COVID-19 storm?' Full discussion here: https://www.youtube.com/watch?v=A6OBcfPMVlg
Minister of Road Transport and Highways of India, Nitin Gadkari chaired a crucial meet with India's top Automobile bosses. Gadkari met Maruti Suzuki's Kenichi Ayukawa, Mahindra and Mahindra's Pawan Goenka, Toyota's Vikram Kirloskar and SIAM's Rajan Wadhera. Auto top chiefs asked a 1-year moratorium for 11 regulations and the vehicle scrappage policy. Here's ET NOW's Parisha tyagi with more details!
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it would resume operations at its Manesar plant from May 12. All activities would be carried out strictly in accordance with the government regulations and guidelines, and observing the company's own concern for the highest standards of safety, MSI said.
Export orders worth $4-5 billion at stake, estimated revenue loss of over Rs 1 lakh crore and shortfall in the GST collection of about Rs 28,000 crore. Add to that loss of Rs 14,000 crore in other state levies. The 45-day coronavirus-induced factory shutdown has hit the automotive sector hard. ET's Nehal Chaliawala explains why India needs to keep the wheels of the industry - which amounts to 0.5% of the country's GDP - moving. Watch now.