The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
At the end of May, out of 26,500 outlets about 60 per cent showrooms and 80 per cent workshops were operational across the country.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
The Detroit bailout isn't about saving the U.S. auto industry, it's about Democrats and Republicans jockeying for power.
American auto industry's Big Three appear close to securing a bailout, with Wall Street Journal reporting that the White House and top Democrats have agreed in-principle for a $15 billion rescue plan -- less than half the amount sought by GM, Ford and Chrysler.
The British auto industry is expected to witness 40,000 job losses over the next three years, mainly due to falling demand for cars, says a media report.
Passenger vehicle wholesales in India declined 2.5 per cent year-on-year to 341,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 350,355 units in July 2023, automobile industry body Siam said on Wednesday.
Industry sees second-highest monthly growth after November.
The Indian auto industry, which was heading towards negative growth territory, managed to stay in the positive zone in the fiscal ended March 31, thanks to the government's stimulus packages, recording a 0.71 per cent increase in total vehicle sales.
With a slew of new players entering the Indian small car market, segment leaders like Maruti Suzuki India and Hyundai Motor India will face challenge to their domination.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
Passenger vehicle wholesales in India declined nearly 4 per cent to 279,501 units last month, auto industry body SIAM said on Wednesday. Passenger vehicle (PV) dispatches from factories to dealerships in March 2021 stood at 290,939 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also fell 21 per cent to 11,84,210 units as compared with 14,96,806 vehicles in March 2021.
Honda Motorcycle and Scooter India (HMSI) on Wednesday forayed into the fast-growing domestic electric mobility market with the introduction of e-scooters, ACTIVA e: and QC1, with swappable and fixed batteries. With this, the Japanese two-wheeler maker will now be competing with other legacy players such as Bajaj Auto, Hero MotoCorp, TVS Group as well as pure EV players like Ather and Ola, who already have a good presence in the segment, which is growing at 34 per cent year-on-year.
The central government will invest Rs 1,700 crore (Rs 17 billion) in setting up world-class automotive testing and R&D infrastructure with foreign collaboration.
Ahead of the Budget, the auto industry is understood to have asked the government to reduce excise duty and remove the additional Rs 15,000 tax imposed on big cars to minimise the gap with those of small cars.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
IL&FS group has discharged debt of Rs 38,082 crore to its creditors as of September 30, 2024, according to the latest status report affidavit filed by the debt-ridden firm before insolvency appellate tribunal NCLAT. "As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said. This includes Rs 20,289 crore from monetisation of assets, Rs 8,140 crore from auto-debits, green entity principal servicing, NFB release and Rs 9,653 crore from interim distribution.
'There is a need for a national task force with a singular objective to increase automotive exports.'
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
Passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body FADA said on Thursday. The overall passenger vehicle (PV) registrations last month stood at 309,053 units, as compared to 323,720 units in August 2023.
Auto sector cheers RBI rate cut as 'festival gift'
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
Price of international crude oil - the raw material for making petrol and diesel - dropped to a three-year low before marginally recovering but a revision in domestic petrol and diesel rates is likely only if lower rates are sustained, industry sources and officials said. Global oil benchmark Brent crude futures fell below $70 per barrel on Tuesday - the first time since December 2021 - but gained thereafter after Hurricane Francine hit crude supply in the Gulf of Mexico. Brent rose above $71 a barrel on Thursday while West Texas Intermediate advanced to trade near $68.
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
Innovation ranging from exterior designs of vehicles to EV charger locks grabbed eyeballs at the expo
The nodal agency for implementing energy conservation programme, the Bureau of Energy Efficiency is expected to implement rating of cars on the basis of fuel efficiency charging about Rs 200 per unit from manufacturers.
Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers. Reliance Industries, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among the laggards.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors and ICICI Bank were the biggest laggards. In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.
The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
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