Over the past few quarters, the auto industry's sales had been badly hit due to the recession. As a result, auto companies, distributors as well as direct selling agents are doing their best now to sweeten the deal for prospective customers.
Budget expectations 2013 for the automobile sector.
The union had threatened to go on strike on April 28, but later deferred the proposed strike till May 15.
The performance of the auto component industry was impacted by moderation of vehicle sales in India in 2011-12.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
With Tata Motors about to unveil a low-cost, very small car, automakers from Europe and the U.S. are poised to jump into the market
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
United States President Barack Obama claimed credit for the policies employed by his administration to tackle the global economic crisis during a visit to an auto plant rescued from bankruptcy with federal aid on Tuesday, where he warned the world not to bet against America.
The auto-maker's total headcount is currently 7,200. "We plan to have a total employee strength of 7,350 by the year-end," Maruti Suzuki India Managing Executive Officer Administration (HR, Finance and IT) S Y Siddiqui said.
There is mounting evidence that the Information Revolution may mean the end of large-scale vertically integrated businesses whose guiding principle, "economies of scale", was the defining miracle of the Industrial Age.
The figures are encouraging for the auto industry amid apprehension that due to higher cost and lack of fuel availability, cars with stricter emission standards may not be popular in initial stages. Automakers had even cited this confusion as one of the reasons for dwindling car sales in India, reports Arindam Majumder.
Passenger vehicle (PV) retail sales rose to 184,134 units last month against 85,733 units in May this year as the COVID-19 situation improved across the country. According to the Federation of Automobile Dealers Associations (FADA), which collected vehicle registration data from 1,295 out of the 1,498 regional transport offices (RTOs), two-wheeler sales rose to 930,324 units last month as compared to 410,757 units in May.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday. These companies have also been directed by the govt to refund the subsidies availed by them. The audit by SMEV's chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.
The industry is engaged in a dialogue with the Government of India on policy measures which could minimise the impact of COVID-19 on the Indian economy and especially the domestic automobile industry.
This year, both rural and urban markets have reported around 18 per cent fall in the first quarter. However, most auto majors expect that by January, there would be a pick up.
The slowdown in Europe is a reflection of events at the biennial event, but here are some vehicles that have the potential to either be launched in India or have an impact on the way the Indian automobile industry moves forward.
The Indian industry is not yet fully prepared for the complete elimination of tariffs in the World Trade Organisation identified seven key sectors, including textiles and auto components, the PHD Chamber of Commerce and Industry has said.
Beginning with a bang amid all the glitz and glamour of the biennial Auto Expo, the year will be ending with a whimper for the automobile industry as sales dwindle, and the worst-ever industrial violence at Maruti Suzuki's Manesar plant leaves a big scar.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
At least one Indian company will be among the top six carmakers that would dominate the global auto industry by 2020, a study by global consultancy firm Deloitte said.
This year it is being held between September 29 to October 14.
Here is a low down on the most searched hatchbacks online across the nation in February.
Companies, which are jumping into the bandwagon, include MNCs. For instance, the world's leading component company Bosch has committed an investment of Rs 2,650 crore (Rs 26.50 billion) through four subsidiaries in India. Funds will be used to set up manufacturing facilities for gasoline systems, electronic control units and ABS systems.
The 50-odd launches and unveilings at the Auto Expo are unlikely to lift the gloom off the domestic automobile industry, which has been battling declining sales for six months.
Automobile manufacturers said Euro-VI grade vehicles will not hit the roads before 2020 but the advancement gives them confidence to make investments in manufacturing such vehicles.
Tyre companies are stepping up on exports to offset declining volumes from domestic OEMs.
Passenger vehicle majors like Hyundai, Tata Motors, M&M, Toyota Kirloskar and Honda on Wednesday reported growth in domestic sales in August riding on festive sentiments, although market leader Maruti Suzuki posted a decline amid a semiconductor shortage affecting the industry. The country's largest carmaker Maruti Suzuki India Ltd (MSIL) reported domestic sales at 110,080 units, as compared to 116,704 units in the same month last year, down 6 per cent. "Sales volume of the company in August 2021 was affected due to electronic components shortage.
The auto sector in Pune, which houses production centres of the most prominent auto manufacturers in the country, says that 60-70 per cent of its labour is already local. They were reponding to the Maharashtra Navnirman Sena chief Raj Thackeray's call yesterday urging companies to reserve 80 per cent of all industrial jobs created for local Maharashtrians.
M&M has a joint venture with Renault -- Mahindra Renault Pvt Ltd -- which manufacture the only product Logan in India.
The government will announce a second stimulus package next week covering auto, realty, housing and chemicals sectors.The government may announce safeguards for sectors such as chemicals, aluminium and tyres against cheaper imports.
The bankruptcy, if approved would force Detroit's thousands of creditors into negotiations to resolve an estimated $18.5 billion.
M&M was the top loser in the Sensex pack, skidding 3.31 per cent, followed by Reliance Industries, Bajaj Finserv, ICICI Bank, Maruti, Tata Motors and Tech Mahindra. On the other hand, Tata Steel, L&T, Axis Bank, Bharti Airtel and HDFC Bank were among the gainers.
Though Maruti Swift remains on top of the list, Hyundai Grand i10 is catching up Soon.
Sports utility and multi utility vehicles have emerged as the most exciting segment in the country last year with an annual growth of 62 per cent. Here are 10 SUVs and MUVs facelifts that captured buyers' imagination.
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
In a market economy, the health of the personal transportation industry is linked to the economic health of the nation. However, the health of a specific auto-player is not that crucial.
The new entrant beats competition for the features it offers.
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