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Isn't there enough proof that the economy is in bad shape?

This week, Moody’s downgraded India’s sovereign debt ratings and made the outlook negative.


06 June, 2020, 08:02 PM IST



Maruti commissions 5 MW solar plant at Gurugram

The plant will cater to the internal energy requirements of the company's Gurugram facility by synchronising with the captive power plant, MSI said in a statement.

Toyota to move teams to low-rental offices

The automaker wants to spend less on real estate due to dwindling auto sales, and sedate market co...

Despite outbreak, sales of BS-VI vehicles cross over 1 million

Auto majors have placed more than a million BS-VI passenger vehicles on Indian...

  • The country’s largest two-wheeler maker Hero MotoCorp reported a 42% drop in sales during the month to 334,647 units of motorcycles and scooters. The company was already under pressure due to excess BS-IV inventory in the system, which it had to sell before 31 March. Production was further curtailed due to plant closures because of the nation-wide lockdown.

    India will keep its date with ultra-clean Bharat Stage-VI (BS-VI) fuels today (April 1), leapfrogging from BS-IV amidst slump in demand and constraints on movement in the last five weeks due to the spread of coronavirus and the countrywide lockdown.

    The seven-seater Datsun GO+ is priced at Rs 4.2 lakh for manual variant and Rs 6.7 lakh for the CVT trim. "With the new Datsun GO and GO+, we have introduced high-quality products that not only have a strong value proposition but are also future-ready," Nissan Motor India MD Rakesh Srivastava said in a statement.

    Sales of passenger vehicles dropped 7.61% to 251,516 units in the month under review, shows SIAM data.

    Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said some state governments have recently issued circulars directing that no application for registration of BS-IV vehicles would be accepted on or after certain dates, which are much ahead of March 31, 2020.

    South Korea’s Hyundai Motor is seeking to build its presence in the country’s fleet operators segment with diesel and CNG offerings, and rival Maruti Suzuki’s decision to stop sale of diesel-run vehicles next month could help it push sales. Hyundai registered institutional sales of 58,000 units in 2019.

    Passenger vehicles' sales were affected by the COVID-19 outbreak and the subsequent nationwide lockdown, Tata Motors Passenger Vehicles Business Unit President Mayank Pareek said. Similarly, TKM said its domestic sales declined 45 per cent to 7,023 units last month as compared to 12,818 units in March 2019.

    "While the industry players were looking for a three-month extension (till June 30), the 10-day extension post the lockdown by the Supreme Court is not expected to do any good to the industry given the current situation due to COVID-19 (the disease caused by coronavirus)," ratings agency CARE Ratings said in a report. ​​

    Ashok Leyland, Tata Motors and Mahindra's portfolio of diesel vehicles are those where the price hikes are likely to be high and passing the entire burden to the customer would be painful. But it's too large a price increase for companies to absorb, feel experts.

    Automobile sales in India across categories declined 19.08 per cent in February as economic slowdown continued to hit demand, besides lower production in view of transition to BS-VI emission norms affecting wholesale dispatches, auto industry body SIAM said on Friday.

    The Federation of Automobile Dealers' Associations (FADA) had asked the Supreme Court to extend the deadline to sell and register BS-IV norms compliant vehicles, arguing that dealers would incur the losses on any unsold inventory. However, the court refused to look into the merits of the case and was in no mood to consider any extension.

    The company has also extended warranty timelines on its bikes which were due to expire between March 20- May 3, 2020, till June 30, 2020.

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