As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
GM has also exited from four other international markets, including Russia and Europe.
The vehicles affected by the recall are manufactured between September 2011 and July 2014.
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
The recall will affect 2,910 units of the sedan version of Sail and 1,090 units of compact car variant of the model.
Every year, carmakers announce at the end of November or December their plans to increase prices of their vehicles by January.
Maruti Suzuki is offering cash discounts ranging from Rs 5,000 on its hatchback Celerio to Rs 35,000 on entry level Alto800.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
Auto maker Ford India on Thursday said it has hiked prices by 1-5 per cent on different models with immediate effect to offset rising input costs.
Industry players have sought government support in the form of stimulus package and reduction in excise duty to overcome the slump.
As per the conditions set by General Motors, a dealer who does not accept its offer by July 15 would get only 50 per cent of the compensation amount being offered.
Honda Cars India is recalling a total of 1,338 units of its premium sedan Accord and sports utility vehicle CR-V manufactured between 2002 and 2003 to replace a faulty part in the passenger side airbags. The recall, which is part of Honda's global recall regarding the potential defect related to passenger air bag announced in June 2014, would cover 1,085 units of Accord and 253 units of CR-V.
Auto major Mahindra & Mahindra on Friday said it will hike the prices of its passenger cars and commercial vehicles by Rs 6,000 to Rs 20,000 from October 1, partly to offset higher input costs and depreciation of rupee against the dollar.
Hyundai Motor India Ltd (HMIL) on Thursday said it will hike prices by up to Rs 20,000 across models, except the newly launched compact car Grand i10, from October 1 to offset the impact of rupee depreciation and rising input costs.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
A government-instituted panel which probed the extent of non-compliance by General Motors in re-fitting pre-approved engines on Tavera models sent for inspection to meet specified emission norms, submitted its report late on Monday evening, holding the company responsible for corporate fraud.
General Motors' Tavera recall prompts Union government to formulate a stricter policy.
The US-based auto maker told the government an internal probe had revealed the company had violated testing targets
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Falling margins, high inflation pitting workers against management.
Maruti recorded 20 per cent jump in sales during November.
The Competition Commission of India (CCI) on Monday slapped a penalty of Rs 2,545 crore on 14 top carmakers of the country for violating trade norms in the spare-part andafter-sale service market.
The industry players couldn't hide their disappointment.
Sanand has catapulted into the big league of automobile industry hubs.
Sources claim that 68-70 per cent of the workers at Halol are permanent ones, while the balance is tilted towards contractual workers at Talegaon.
Turns down firm's plea for stay on CCI order; final order pending
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