An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
A lot of corporate professionals are taking power breaks from their jobs and are heading back to the classroom. Here's what you need to know about taking a power break.
Improved performance and redesigned looks of new vehicles have increased satisfaction among the owners with Maruti Wagon R, Esteem, Honda City, Toyota Corolla and Tata Safari
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
DiamlerChrysler, Volvo, Renault plan to hit roads with their high-capacity trucks soon.
GST will create a single, unified Indian market
The Chinese company, Taian Chiran Machinery Company Ltd, had been reportedly marketing a copy of top selling Pulsar in different Latin American markets under Gulsar brand.
Based on discussions with stakeholders, the ministry is proposing to allocate Rs 26,400 crore for FAME-III subsidy alone with electric two wheelers getting around Rs 8,158 crore, electric buses Rs 9,600 crore and electric three-wheelers Rs 4,100 crore, according to sources in the know. Along with some other components like setting up an innovation fund and money for testing , the total allocation could cross Rs 33,000 crore, estimates suggest.
Already reeling under a demand slump, automobile manufacturers have expressed disappointment over the RBI's decision to hike short term lending rate saying it is likely to impact the interest rates on car and automobile loans further.
For April-July period, the output went up by 9.6 per cent against 10.6 per cent.
The Centre for Monitoring Indian Economy revised upwards its industrial forecast for 2003-04 by 1% to 5.5% as the food sector is expected to show a positive 3% growth as against the earlier projection of a decline of 0.4%.
As India's first solar exploration satellite reached space, four Kerala public sector undertakings, including Keltron, have reason to be delighted as they too have contributed to this achievement by the country. Various products indigenously developed and manufactured by the four PSUs - Keltron, Steel and Industrial Forgings Limited (SIFL), Travancore Cochin Chemicals (TCC) and Kerala Automobiles Ltd (KAL) - have been used in the Aditya L1 mission. This milestone achieved by the PSUs was highlighted by state Industries Minister P Rajeev in a Facebook post.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
The move will primarily impact luxury car companies like Mercedes Benz, BMW, Audi and Volvo and bike brands like Triumph and Harley Davidson.
SIAM also said the ban, which is in effect since December 16, has resulted in production loss of around 11,000 units
It is usually better to buy those shares which are members of an industry group which is leading the market's move.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
The government's promise to review the tax structure for automobiles industry notwithstanding, the Centre for Monitoring Indian Economy on Monday
The total incentive outgo under the ambitious production-linked incentive (PLI) scheme is estimated to be less than Rs. 40,000 crore by the fiscal year 2024-25 (FY25), when it completes the fourth year of implementation, according to the government's internal estimates. This means only a fourth of the allocated Rs 1.97 trillion is expected to be utilised by the end of FY24, indicating that not all the 14 PLI schemes would have taken off fully. While three of the 14 schemes - large-scale electronics manufacturing, bulk drugs, and medical devices - were introduced in 2020, the remaining were launched the following year.
While home-grown firms like Tata and Mahindra have been actively participating in the government's e-mobility mission, by launching electrified versions of their existing models, the global firms believe electric is not the best solution for a country where the primary source of power generation is coal, and where infrastructure is a big impediment.
In a major victory for Tatas, an arbitral tribunal has awarded Tata Motors a compensation of over Rs 766 crore for the losses incurred because of protests by Trinamool Congress that stalled its small car project at Singur in West Bengal. The tribunal asked the West Bengal government to pay Tata Motors the compensation, along with interest, according to a stock exchange filing by the Mumbai-based auto major on Monday. The company stated that the arbitral tribunal has asked the West Bengal Industrial Development Corp (WBIDC) to pay the company Rs 766 crore compensation, in connection with losses incurred on its manufacturing site in Singur.
Pilot project in Bengaluru; Snapdeal got into the category last month
While Toyota will acquire 4.94 per cent shares of Suzuki, worth $ 908 million, the latter will make a $ 454-million investment in the biggest automaker of Japan. Premium products from the Maruti stable such as the Baleno, Ciaz and Vitara Brezza will be sold under the Toyota brand with small changes.
Attracted by the boom in the automobile sector, Reliance Industries Ltd (RIL) has formed a joint venture with Russia's biggest petrochemical company, SIBUR, to jointly invest $450 million (Rs 2.040 crore) to set up a 100,000-tonne butyl rubber factory, said a company release. RIL will have majority stake.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
Putin made these remarks on Tuesday while speaking at the Plenary session of the 8th Eastern Economic Forum in Vladivostok, a major port city in sanctions-hit Russia's Far East region
The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
