The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
Jaguar Land Rover (JLR) -- the two premium brands owned by Tata Motors, India's largest automotive company -- will tighten up frivolous expenditure to contain cash in a slowing automotive market.
Lightning Logistics, Shreyas Shibulal's start-up, rents out electric scooters along with the riders for last mile delivery.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
The industry needs stimuli to help revive consumer demand and conversions.
Homegrown farm equipment to aerospace group Mahindra on Thursday announced a senior management rejig that will be effective from February 1.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
The new car market is estimated at around 30,000 units a year in sales in a good year, whereas the used car market for luxury vehicles is estimated at around 60,000 cars annually.
'There is pent-up demand for cricket after last year when no tournaments were played on Indian soil due to the pandemic.'
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Australia is exploring possibilities of building better ties between its world-class firms and rapidly growing Indian automotive industries to create new export opportunities and help secure the ongoing strength of the multi-billion-dollar auto industry there.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
Bangalore-born Bhattacharyya, an alumnus of Indian Institute of Technology (IIT) Kharagpur, was awarded the Padma Bhushan in 2002 for his services to science and technology and made a life peer in the UK's House of Lords in 2004.
FCA has alleged that the Roxor, which M&M imports in the US from India as knocked-down kits, was "a nearly identical copy of the iconic Jeep design", adding that the product was modelled after the original Willys Jeep.
Renault-Nissan Automotive India Private Ltd (RNAIPL) on Wednesday appointed Kou Kimura as chief executive officer and managing director for its Chennai manufacturing facility with effect from April 1.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Japanese auto major Suzuki Motor Corporation (SMC) on Wednesday said its long-serving chairman Osamu Suzuki will retire and assume the role of senior advisor subject to shareholders' approval in the ordinary general meeting to be held in June this year.
The sharpest contraction of the American economy in a decade is expected to get worse in the second quarter. White House senior economic adviser Kevin Hassett said that they expected second-quarter negative GDP growth between minus 15 and minus 20 per cent.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Amit Bansal discusses the emerging trends in the engineering sector.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
Market research firm GfK Automotive's Barometer of Automotive Awareness and Imagery Study found that Chinese and Indian auto-makers could face a similar purchase consideration curve to Korean vehicles when they launched in the US.
Issues like high insurance cost and the announced price hike effective January could also weigh on sales in 2019. The only bright spot is the softening seen in fuel prices over the past month.
Mahindra & Mahindra Ltd has touched 50 lakh vehicle production milestone, rolling out its 5 millionth vehicle from Kandivali plant in Mumbai.
In India, over 13.25 lakh cars have been recalled by various auto companies so far.
Are we running a cricket match using football rules, asks Ajit Balakrishnan.
"I probably wouldn't do much," Buffett said when asked what he would do if he ran the Fed.
Lauding the automotive industry in the country for its "success beyond expectations" Prime Minister Manmohan Singh on Saturday said the government would take necessary steps to realise the goal of making India a global workshop.
Ratan Tata's comments come after another Indian automotive company, Mahindra & Mahindra, is in the process of taking over South Korean auto maker Ssangyong Motor Company, expected to be done by November.
The JV between the French auto major and India's CK Birla group is aiming at production capacity of about 100,000 vehicles a year by 2020.
The company sells various utility vehicles ranging from newly launched compact SUV XUV300 to premium SUV Alturas G4.
The total vehicle registrations in India fell by 29.85 per cent to 1,52,71,519 units in financial year 2020-21, the lowest in the last eight years, the Federation of Automobile Dealers Associations (FADA) said on Monday. Total vehicle registrations were at 2,17,68,502 units in fiscal year 2019-20. All categories of vehicles, except tractors were in red in FY21 with two-wheeler (2W), three-wheeler (3W), commercial vehicles (CV) and passenger vehicles (PV) falling by 31.51 per cent, 64.12 per cent, 49.05 per cent and 13.96 per cent respectively -- the lowest in last eight years and way below the FY13 levels, FADA said in a statement.
Move to help India export hi-end vehicles.
The top driver for the Indian workforce while choosing an employer are salary and employee benefits, followed by work-life balance and job security.
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
Amitabh Bachchan and Deepika Padukone are among the top influencers in India.
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
