Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
General Motors' Tavera recall prompts Union government to formulate a stricter policy.
The new tax regime has also been fuelling sale of SUVs, particularly the compact SUVs
The auto maker wants to cut output in the wake of low demand.
Tata Motors' passenger vehicle sales stood at 229,325 units in the last financial year, registering a market share of just 8.9 per cent.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
Cumulative sale at India's top six passenger vehicle (PV) makers dropped 0.7 per cent to 267,000 units, from 269,000 a year before.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
In June, the new government led by Narendra Modi extended the excise duty concession by six months to December 31, which is not being further extended.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
Auto Expo's Twitter handle (@AEMotorShow), with a follower base of 16,000, is abuzz with activity. The Facebook page of Auto Expo has about 158,000 followers.
During the meeting with Finance Minister Nirmala Sitharaman, the auto industry broadly presented factors such as issues regarding availability and affordability of financing, increasing cost of acquisition of vehicles and change in axle load capacity for commercial vehicles that have hurt demand.
The Interceptor 650 and Continental GT 650 have been game changers in the upper part of the mid-size segment, with compelling style and highway capability.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
Large number of buyers has put purchases on hold because of a combination of factors, including high fuel prices, higher insurance cost, and firm interest rates.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
Toyota's India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti.
Maruti Suzuki said there are many reasons for this downturn in the auto market such as liquidity crunch, increased prices of products due to regulatory issues, higher taxes and rise in insurance rates.
'It is going to be as high as 50% in the coming one or two months and can be about 20% to 25% in the medium term.'
Mahindra is the latest among a clutch of other manufacturers that have been using services, fuel efficiency and packages as unique selling proposition. Sales of Mahindra's heavy trucks dropped to 3,427 units in the eight months from April to September.
Market linking of petrol and diesel prices has helped the industry.
Move to help India export hi-end vehicles.
Maruti's Alto retained the best-selling model tag in January with 22,998 units as against 21,462 in January 2016.
Hero MotoCorp sold 254,813 Splendors, about 4,000 more than the 250,681 Activas sold by its rival Honda Motorcycles and Scooters India.
The 125-km stretch covering Sanand, Hansalpur and Vithalapur, with connected nodes at Kadi and Halol, is set to emerge as the next major automobile hub in India.
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
While two-wheeler sales are down 15 per cent year-on-year, passenger vehicles sales are lower by 5-7 per cent.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
The price differential has been upwards of 20%.
Some of the notable models set to make a debut next year include the Tata Harrier, the Mahindra S201, the Kia SP Concept, MG Motors' Boujun 530, and the Honda HR-V.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
Two-wheeler prices are likely to rise by 10-25 per cent on account of higher premiums on insurance and commodity prices, mandatory safety regulations and BS-VI emissions that kick in from April 1, 2020.
Component makers don't see any recovery yet, but manufacturers believe the end of poor sales is nearing its end.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
November IIP data show a fall of over 20%, led by automobiles, gems & jewellery and home appliances; turnaround seen as unlikely.
Future strategy will not just revolve around EVs: Maruti Suzuki's Ayukawa. Maruti Suzuki's MD&CEO says electric vehicles cannot be a solution outside the cities.
Commercial vehicles however declined by 2.83%
The growth in the PV segment was primarily led by car market leader, Maruti Suzuki India, which saw its dispatches to dealers grow 4.4 per cent YoY to 144,277 units after 10 months of drop. It was driven by new launches, such as the S-Presso, a mini sport UV.
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