Automobile dealers' body FADA has urged the government to formulate a task force to monitor the compensation structure being worked out by Ford India for its dealer partners across the country. In a letter to Heavy Industries Minister Mahendra Nath Pandey, FADA president Vinkesh Gulati also requested the government to instruct Ford India to keep the industry body in the loop regarding the compensation structure for the dealerships. "We humbly request your Ministry's intervention... Create a task force which takes day-to-day updates from Ford India to monitor the compensation plan for automobile dealers and dealership employees," Gulati said in the letter.
Ford is among several multinational automobile companies in India for whom exports now bring bigger volumes than local sales.
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.
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.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Millions of vehicles have been recalled across the globe due to defective safety airbag manufactured by Japan's Takata Corp.
What India needs is a not cheap car, but more fuel-efficient cars. It also needs to make its public transportation better.
Automobile major, General Motors, on said that it would launch the electric version of its small car 'Spark' in the Indian market this year-end.
This is the first time a global company is looking to introduce an SUV in this price segment.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
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.
The company on Thursday introduced its luxury sedan Teana.
The launch, however, would take some more time.
Discounts range between Rs 20,000 and Rs 80,000.
Passenger vehicle wholesales in India increased by 17 per cent in the second quarter of the current fiscal year as buying sentiment improved and companies stocked up to cater to enhanced demand in the festive season, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles sales in the July-September quarter increased to 726,232 units from 620,620 units in the same period last year. Similarly, two-wheeler sales during the September quarter this fiscal rose marginally to 46,90,565 units as compared with 46,82,571 units in the same period last fiscal. However, commercial vehicles sales saw a dip of 20.13 per cent at 133,524 units in the quarter under review as compared with 167,173 units in July-September 2019.
Burgeoning demand for spacious people movers in India has led Ashok Leyland, a medium and heavy truck builder, to plan on developing a utility vehicle to take on the likes of Toyota Innova, India's largest selling multi-seater personal vehicle.
The New Year will begin on a costly note for car buyers with major players, including Maruti Suzuki, Hyundai Motors and General Motors, planning to increase prices of the vehicles by as much as Rs 12,000.
There is another common trend among these three players - they are all registering a volume decline in a market that is expanding at over 8 per cent
India's biggest carmaker Maruti Udyog Ltd on Tuesday announced the setting up of a diesel engine plant with an investment of Rs 350 crore (Rs 3.50 billion).
It was reacting to lawyer Mathews Nedumpara's email to the top court in which he claimed the apex court has been hearing only constitution bench matters, which have no public interest involved, and not the cases of ordinary citizens.
In the seven months between April and October this year, the Chevy Spark has managed to sell less than 12,000 units, or an average of 1,700 units a month, while its peers Alto and WagonR (Maruti Suzuki) , Indica (Tata Motors) and Santro (Hyundai) have had average monthly sales of 10,000-18,000 units.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Honda, Mahindra and General Motors will launch three stunning cars starting from the first day of the month.
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
The companies continue to see heavy demand in utility cars.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
With vast disparity in fuel prices, the demand for diesel cars had reached upto 85 per cent and petrol cars had come down to 15 per cent, which otherwise usually remained at 50:50 per cent levels in India.
Green vehicle set to hit Indian roads next year.
Scientists at the Central Salt and Marine Chemicals Research Institute are working on a project to develop frost-tolerant varieties of bio-fuel bearing Jatropha plant for large-scale plantation in the US.
The price mentioned is for the Bharat Stage (BS) III version, while the cost of BS IV will soon be updated by the company.
Indian and international brands are now all focused on small cars.
HCIL will voluntarily replace airbag inflators of 2,23,578 vehicles of previous generations of CR-V, Civic, City and Jazz.
Passenger vehicle wholesales in India increased by 12.73 per cent to 285,367 units in November as against 253,139 units in the same month last year riding on the back of festive demand, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year.
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.
Auto component sourcing has touched $3 billion in India and is expected to double by next financial year-end. Such sourcing has provided Indian players with the opportunity to charge a premium that varies between 5 and 10 per cent.
Ford Motor Co plans to triple exports from India.
General Motors India is aiming to increase sales three-fold over the next three years, with the five new models it is planning to launch in collaboration with Shanghai Automotive Industry Corporation.
The US financial crisis and the resultant economic downturn pushed many a top honchos out of their corner rooms in 2009, but Citigroup's India-born chief Vikram Pandit continues to steer the once financial colossus out of its biggest ever crisis.
