Auto component makers in India are bracing for a tough time. High absenteeism among workers owing to Covid-19, shortages of critical parts, and temporary closures of plants by automobile manufacturers have thrown a spanner in the works for the Rs 3.2-trillion sector, which derives 60 per cent of its revenues from automobile original equipment manufacturers (OEMs), with the balance split equally between replacement demand and exports. Car market leader Maruti Suzuki India on Saturday said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, "keeping in view the current pandemic situation". Some activities will continue in the plants.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
'If the minister does not resign, then it will be the darkest incident of Indian democracy where power prevailed over the people.'
The CBEC admitted the three models are known as sedans in trade, not as SUVs.
Other players who have declared no production days in the recent past, and during this month, include Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp, Bosch, Jamna Auto, Wabco and Sundaram-Clayton.
SUVs are increasingly becoming a rage amongst buyers.
Your plans to bring home a dream vehicle may just have become a little more distant, with automobile manufacturers considering price increases to offset the impact of higher excise duty levied in the Union Budget.
PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown and its crippling effect on the financial sector as well as the economy. The annual depreciation on this purchase will be around about Rs 20 lakh.
While hybrids, CNG and biofuels found favour in 2018 among many carmakers including Maruti Suzuki, Mercedes-Benz, Toyota and Honda, others such as M&M and Tata Motors have shown full faith in electric vehicles.
The impact of the ban will not be limited to sales.
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Condusive climate across states is crucial for manufacturing growth.
'I want to show that we are also part of this society and want to participate just as much, whether it is for security or whatever community work there.'
This trend is likely to gain pace with the new infrastructure cess on diesel vehicles.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
Toyota, M&M and Honda are making tough adjustments to their growth plans as uncertainty over diesel vehicles and fuel emission norms rises
Congress raised the issue of alleged irregularities in land deals involving him and his family members.
A flex-fuel or dual fuel vehicle is capable of operating on both petrol and ethanol
'Toll system can never end though the rates may vary from time to time. Toll is my brain child'
Chidambaram showed a total income of Rs 8.58 crore for 2014-15, while his wife Nalini showed income of Rs 1.25 crore for the same period.
Maruti Suzuki, Hyundai and M&M draw visitors with a range of concept cars.
While two-wheeler sales declined 22 per cent, two other segments, bigger in value while being lower in volume, were much less impacted.
The German group has set aside 6.5 billion euros ($7.3 billion) to help cover the costs of the crisis and said that 11 million of its cars could be affected worldwide.
India is adopting a 'wait and watch' approach after the installation of the new government in Pakistan, the minister of state for external affairs told reporters in New Delhi.
Gujarat, Telangana to roll out policies to encourage manufacturing
On the eleventh anniversary of her father's martyrdom during the 26/11 terror attacks on Mumbai, Jui Karkare Navare remembers her father, Mumbai ATS Chief Hemant Karkare.
A pregnant woman is murdered in cold blood in the heart of suburban Mumbai. By her father who didn't want her to marry the man she did.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
Implementation of the Seventh Pay Commission recommendations, One Rank, One Pension are the other triggers going ahead, analysts say
Falling margins, high inflation pitting workers against management.
Trump said that his proposal should be supported by both parties (Republican and Democratic) as a fair compromise -- one where nobody gets everything they want, but where the country gets the critical reforms it needs.
A mix of industrialists and businessmen, who have inherited riches or rose from humble backgrounds and even endured boom and bust cycles, the top five MPs are illustrative of how the political stock of the wealthy is increasing rapidly.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
Increase in taxes on luxury cars will not have any effect on the demand
Today, Suzuki depends on Maruti for its place in the world
Second body blow after diesel ban on engines of 2,000 cc and above in NCR.
Foxconn is the world's largest contract manufacturer for electronic goods and makes iPhones for Apple and smartphones for its Chinese rival Xiaomi.
The horrific disaster that has struck Uttrakhand has been assessed as a mix of natural and man-made. In fact, the various media analyses indicate we were asking for it and there were enough warnings and indications that this would happen, says Lt Gen (retd) Prakash Katoch.
Hers is a rags-to-riches story for the ages, peppered with risks, determination and strokes of luck.
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