Daily wage earners and casual low income group workers were the worst affected
The German group has set aside 6.5 billion euros ($7.3 billion) to help cover the costs of the crisis and said that 11 million of its cars could be affected worldwide.
A nationwide and compulsory switch to BS-VI is due from April 1, 2020. Amid increase in input and other costs, companies had decided to increase the price of their vehicles from January 2020. This is expected to push sales of passenger vehicles by 2 to 4 per cent in December; reportedly, bookings are in that range.
RIL, Capgemini, IndiGo among companies which have offered to pay their employees' vaccination cost.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
The first leg of the 35-day festive period, which ended with Dussehra, failed to bring any cheer for auto companies. While makers of passenger vehicles struggled to meet demand due to the persistent shortage of semiconductors, a recovery in demand remained elusive for two-wheeler manufacturers despite offers and schemes. The overall season, which ends two days after Diwali, is unlikely to bring any turnaround in either the supply or the demand scenario, said dealers and officials at auto companies.
Among those who have the most to lose from India's haphazard policies are dealers selling cars made by Toyota, Mahindra & Mahindra, Daimler AG's and Tata Motors' luxury arm, Jaguar Land Rover
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
The strict curbs, including a curfew from 8 pm till 7 am, and prohibitory orders during the daytime on weekdays came into force from Monday in the state.
The auto major is eyeing 20 per cent of the compact SUV market with the petrol and diesel variants of the XUV300, reports Shally Seth Mohile.
Gianiji had crafted his moves with the meticulous planning of a chess grandmaster. He did not know whether a checkmate was feasible, as his time was running out, but he wanted Rajiv Gandhi to smell the fear of loss. A fascinating excerpt from K C Singh's The Indian President: An Insider's Account of the Zail Singh Years.
Government employees in 13 districts of coastal Andhra and Rayalaseema launched an indefinite strike on Tuesday protesting the proposed bifurcation of Andhra Pradesh.
Maharashtra Chief Minister Uddhav Thackeray announced a statewide curfew for 15 days from 8 am on April 14 to contain the rapid spread of the coronavirus in its second wave. With Section 144 being imposed across the state, Thackeray essential services have been exempted from the restrictions. The curfew will be in place till 7 am on May 1.
Paris-based international advisory firm Mazars predicts four per cent growth in India's automobile sector this financial year.
Mahindra is desperate for a best-seller in the compact SUV space, on which it missed the bus
Appearing on Rediff Chat, G Srikanth, partner in GSV Associates, Chartered Accountants, Chennai, and member of the Institute of Cost and Management Accountants, answered readers' queries on the Goods and Services Act.
The company took five years to sell the 250,000 units of the Nano.
