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.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
Other players who have declared no production days in the recent past, and during this month, include Mahindra & Mahindra, Maruti Suzuki, Hero MotoCorp, Bosch, Jamna Auto, Wabco and Sundaram-Clayton.
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 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
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.
German premium car maker Mercedes-Benz on Wednesday reported nearly 100 per cent growth in sales at 4,101 units in the domestic market in September of the current year. Mercedes-Benz India had sold 2,058 cars in the Indian market in the July-September period of 2020. The strong rebound in sales particularly in Q3 2021 retail, reflects the continuous V-shaped recovery witnessed since the pandemic affected second quarter (April-June), owing to the return of economic activities, a stable economy at large and an overall positive market outlook.
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.
The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
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.
India will have 30 per cent of its two-wheeler industry turning electric by 2030 as new manufacturers lead the shift, said a report on Monday. Passenger vehicles will be 15 per cent electric and the three-wheeler segment 75 per cent electric by 2030, said the report by BNP Paribas called 'India Autos-Electric vehicles: Minutes to midnight'. "We see FY22 as the year of inflection for the two-wheeler EV industry, with an accelerated EV adoption helped by incentives, wider availability, model launches, rise in crude prices and improved general awareness. We see 30 per cent of the 2W industry turning electric by 2030; the pace of incentive withdrawal presents an upside/downside risk," the report (India Autos - Electric vehicles: Minutes to midnight) said.
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.
White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and FMCG, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to Naukri.com's monthly 'Naukri JobSpeak Index'.
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.
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.
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.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
This year it is being held between September 29 to October 14.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
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 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.
Here is a low down on the most searched hatchbacks online across the nation in February.
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.
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.
According to Siam data, Indian auto companies sold 982,456 units of utility vehicles in the first half of FY23, a 50.29 per cent growth over the corresponding period last year.
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.
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.
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.
Tyre companies are stepping up on exports to offset declining volumes from domestic OEMs.
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.
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.
