The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
General Motors Corp, the world's largest automaker, said on Thursday it will launch two new cars in India next year to help boost its share of a market forecast to be one of the world's fastest growing this decade.\n\n\n\n\n\n
US-based General Motors plans to launch 40 new products in international markets including India, where it is focusing on a turnaround.
With much sadness, so many of us woke up to the news that Vikram Kirloskar, vice-chairperson of Toyota Kirloskar Motor, had passed away late Tuesday. As I reminisce on the nearly 40 years I have known him, I can unequivocally say that he had such a rare and deep understanding and passion for automotive manufacturing that it would make Toyota, which pioneered the Toyota Way, proud. Many of us know Vikram as the man who brought the iconic Japanese carmaker Toyota to India. But few know the back story and hard work that went into creating a system of manufacturing that was everything Toyota could have hoped for and then some more because it was perfectly calibrated for manufacturing in India.
Sources close to the development said the three companies have sought permission from the Insurance Regulatory and Development Authority for new motor insurance products and are expected to launch the add-on covers in the first week of January. Add-ons are expected to be in the form of a replacement vehicle or payment on a daily basis when the vehicle is out for repair, and reduced or zero depreciation.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
General Motors vice-president P Balendran is less diplomatic and talks about a 'severe blow'.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Cars have just got dearer with major automobile firms, including Maruti Suzuki India, Hyundai and General Motors, increasing prices this month in order to offset rising input costs.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
Over seven lakh vehicles have been recalled by various manufacturers in India since 2012.
Over seven lakh vehicles have been recalled by various manufacturers in India since 2012.
Industry players have sought government support in the form of stimulus package and reduction in excise duty to overcome the slump.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
GM India has asked customers facing problems with their remote keyless entry accessory to go to their Chevrolet dealer.
Passenger vehicle dispatches from factories to dealers in India fell 8 per cent in January, mainly due to semiconductor shortage, auto industry body SIAM said on Friday. The total passenger vehicle wholesales dropped to 254,287 units in January 2022 as compared to 276,554 units in the same month of last year. Last month, passenger car dispatches stood at 126,693 units as compared to 153,244 units in the year-ago period. Similarly, van dispatches declined to 10,632 units in the period under review from 11,816 units in January 2021.
Model 3 received 180,000 orders worldwide.
The Ambassador or Amby was the first car manufactured in India.
Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 86. "The Steel Man of India passes away. It is with profound grief that Tata Steel informs of the demise of Padma Bhushan Dr Jamshed J Irani," Tata Steel said in a statement. He passed away on October 31, 2022 at 10 PM at TMH (Tata Hospital) in Jamshedpur, it said.
Some of facelifts in India will include cars from highly prominent car makers.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Automobile manufacturers are offering freebies, ranging from gold coins and LED televisions to record discounts, to push petrol vehicle sales.
The share of eastern India in the overall sales volume is also expected to grow from the existing 9 per cent to 15 per cent by 2010. At present, Hyundai sells around 1,000 units per month in eastern India.
Scores 0 on front seat protection and 2 stars for rear seat child occupant protection
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
India, one of the world's fastest growing auto markets, will see the launch of over ten vehicles, including small cars during the 10th Auto Expo.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
Anjuli Bhargava finds out that an astonishing number of relatives of DGCA officials over the years are and have been employed in the airline industry.
Ford dealers in India are staring at huge losses with the automaker deciding to shut production in the country with immediate effect, automobile dealers' body FADA said on Thursday. Terming the company decision as shocking, the industry body noted that the dealers have invested over Rs 2,000 crore in creating sales infrastructure while employing around 40,000 people across the country. "The auto retail fraternity is really shocked to hear another Ford India's announcement where it has said that it will shut down production with immediate effect," FADA president Vinkesh Gulati said in a statement.
IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.
Maruti recorded 20 per cent jump in sales during November.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
The launch of Manchester United limited editions of Chevrolet Beat and SAIL hatchbacks comes at a time when the Chevrolet brand is making debut on the club's jersey.
The rate cut would mean actual gains for vehicle buyers only when banks pass on benefits.
Toyota has capacity to manufacture 310,000 vehicles at its two plants located near Bengaluru
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