The company's domestic market share is down to low single digits from nearly 15 per cent a decade ago and its bread-and-butter commercial vehicle business faces a slowdown as well as intense competition.
GM has also exited from four other international markets, including Russia and Europe.
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.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
The worker said there was a natural source of water in the tunnel but they had no clothes to change.
Irda to raise provisioning norms to 163-213 per cent.
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.
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.
'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.'
The car is powered by a 1-litre petrol engine.
The project has already entered the design stage, and the company has asked its part suppliers for initial cost estimates.
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.
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
The Ambassador or Amby was the first car manufactured in India.
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.
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.
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.
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.
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.
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 sources said the talks are focused on sorting out certain issues relating to cost component, weapons package and technology sharing.
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.
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.
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.
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.
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.
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.
