Global auto companies are investing huge money to build infrastructure in the country despite the slowdown.
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.
An executive of HM, which supplies auto components to leading car manufacturers in the country, said there was a general slowdown in the auto components business as major automobile manufacturers had resorted to production reduction. When asked which areas HM was likely to enter for its non-auto business, the executive said that infrastructure, power transmission and the railways were prospective sectors.
General Motors used the Auto Expo 2012 platform wisely and introduced its much anticipated MPV.
US-based General Motors plans to launch 40 new products in international markets including India, where it is focusing on a turnaround.
Iffco Tokio General Insurance is hoping to step up growth by focusing on motor and health insurance.
Hit hard by rupee depreciation, automobile companies including Toyota and General Motors, are keeping options open to increase prices of their vehicles.
Move to be aimed at reducing subsidies on the fuel.
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
Irda to raise provisioning norms to 163-213 per cent.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
December car sales data was a mixed bag. While some reported growth in sales other saw a dip. This probably can be because customers are waiting for a rate cut from RBI.
While the country's largest car maker, Maruti Suzuki India, said its car will become costly by two per cent, Hyundai Motor India said it will result in a price rise of Rs 6,500-25,000 on average.
The car is powered by a 1-litre petrol engine.
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.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
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.
The project has already entered the design stage, and the company has asked its part suppliers for initial cost estimates.
Automobile manufacturers are offering freebies, ranging from gold coins and LED televisions to record discounts, to push petrol vehicle sales.
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata
Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.
The Ambassador or Amby was the first car manufactured in India.
The sources said the talks are focused on sorting out certain issues relating to cost component, weapons package and technology sharing.
Bangalore-based Toyota Kirloskar Motor Pvt Ltd, a joint venture between Kirloskar Group and Toyota Motor Corporation, has decided to introduce the newly-developed sedan on the Etios platform, ahead of its much-awaited small car.
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.
In spite of straddling the market with multiple competitively priced models, GM was pushed to the fringes by the rivals from Japan and Korea.
The new year has brought good news for almost all car manufacturers, with market leader Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and even Fiat, posting their highest monthly sales since their inception.
Dynamics of auto business will change if the government ends diesel subsidy to passenger vehicles.
Automobile component manufacturers are rejoicing over a sudden 30-40 per cent spurt in demand in February. Analysts are, however, not entirely sure of the reason for this high growth; many are doubtful if it can be sustained, given the other gloomy signals. An analyst says, "Almost all car makers have either completely withdrawn or drastically reduced their promotional offers." Also, payment issues as far as vendors are concerned remains a problem.
Some of facelifts in India will include cars from highly prominent car makers.
Makers of cars and bikes posted missed results for August amid high inflation rate hike worries.
Farmer leader Sarwan Singh Pandher on Tuesday said the Centre should convene a daylong Parliament session to bring a legislation on the minimum support price (MSP) for crops, a key demand of protesting farmers.
There are 763 registered voters among around a thousand residents of this remote village in Alirajpur assembly constituency, reserved for the Scheduled Tribes, but no candidate has bothered to visit the place, locals said on Thursday.
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.
With the domestic auto market going on a downhill slide, Tata Motors and Maruti Suzuki have cut production as the automobile industry braces up for a single digit sales growth this fiscal.
General Motors is looking at introducing an entry-level car to be positioned below the Chevrolet Spark, to drive up volumes in the Indian market.
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.
US car maker General Motors on Monday launched its luxury sedan Chevrolet Cruze in India at an introductory price ranging from Rs 10.99 lakh (Rs 1.09 million) to Rs 12.45 lakh or Rs 1.24 million (ex-showroom, Delhi).
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
