Not right time to seek GST rate cut on automobiles: RC Bhargava
The company, which has around 54 per cent market share in the domestic passenger vehicle segment, said that rate cut if any has to be considered at the right time.
Automobile industry to see double-digit sales decline in FY21: Crisil Research
The automobile industry is headed for another year of double-d...
Fiat Chrysler Automobiles India launches online retailing for Jeep
FCA India President and Managing Director Partha Datta said, "Our commitme...
IIT, North Texas varsity develop magnesium alloy which can replace steel, aluminium in automobiles
The researchers say the current industrial application of wrought magnesium alloys in structural components is very limited due to their poor strength, poor ductility, yield strength asymmetry and lack of high strain rate superplasticity despite their density being two-third of aluminium and one-quarter of steel.
Auto dealers seek higher margins to offset slump in sales, save jobs
Federation of Automobile Dealers’ Association (FADA) has urged automakers to fix minimum dealer margin at 7% on selling price of the vehicle to help restrict job losses in the sector that employs four million personnel directly and indirectly, and make “this business model more sustainable, shockproof and comparable to international standards”.
Indian automobile sector unlikely to start its engine before May 3
India stepped into Lockdown 2.0 on Monday, opening up sectors of the economy beyond the four walls of home, but automakers are yet to overcome the inertia of forced rest, awaiting the nod of local authorities.
Automobile manufacturers asked to make ventilators: Health Ministry
The Ministry of health has already asked the Bharat Electronics Limited (BEL), a public sector undertaking under the Ministry of Defence, to manufacture 30,000 ventilators in the next two months in collaboration with local manufacturers, the ministry said. Agva Healthcare, Noida has also been given an order to manufacture 10,000 ventilators within a month.
April 2020 a month to forget, looking forward to resuming business: FADA
Stating that April 2020 will be a month which the entire automobile industry would like to forget, the Federation of Automobile Dealers Associations (FADA) also said that to resume business, the entire automobile ecosystem has to come back to business together as the entire system is inter-dependent.
Automobile retailers' lobby group seeks relief measures from PM
The suggested support measures include complete waiver of interest on all categories of loans taken by dealers, 4% interest subsidy for nine months post the lockdown, and payment of employees’ salaries during the lockdown through the Employees' State Insurance Corporation.
Lockdown due to coronavirus deepens woes of automobile dealers: Ind-Ra
Coronavirus pandemic will negatively impact demand for automobiles, according to Ind-Ra.
Covid-19, BS-VI transition take toll on automobile wholesale in March
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.
Government working on financial package for all sectors, says official
Giridhar Aramane, Secretary in the Ministry of Road Transport and Highways interacted with members of SIAM (Society of Indian Automobile Manufacturers) Institute via video conferencing and said that government is working on a comprehensive financial package not only for MSMEs but for all sectors.
Auto dealers now hit RTO hurdle
Dealers are not only stuck with commercial vehicles and two-wheelers conforming to phased-out BS4 emission norms, they’re not even able to get BS-6 vehicles registered.
Gujarat's Vijay Rupani govt working on sector-wise plan to spur investment
Gujarat is working on sector-wise plans to spur investment in automobiles, heavy industries, chemicals and petrochemicals, pharmaceuticals and services, among others, as it looks to reopen the economy after figuring among states most severely affected by Covid-19 pandemic.
‘Conscious’ connoisseurs may hurt luxury market
Most luxury brands feel that the negative impact of the outbreak will linger even after the lockdown is lifted, it said in the ‘Impact of Coronavirus on Luxury Industry’ study. “Around 79% of the respondents feel that customers are in a wait-and-watch mode since they are unsure of the likely turnout of events,” Luxury Connect said.
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