Many of these companies have a waiting period from 6-18 months now, indicating a rise in demand.
The NSE 50-share Nifty also spurted by 98.10 points, or 0.97 per cent, to end at 10,211.80
With car sales in India falling for a record ninth month in a row in July posting 7.4 per cent decline and that of heavy and medium commercial vehicles dipping for 17th month in succession, industry body SIAM said on Monday auto sector has started retrenching temporary workers.
Amid a rush of sport utility vehicle sales, Volkswagen is betting on its premium mid-sized sedan - the Virtus - to gain market share in India. The Volkswagen Virtus is the second product under the India 2.0 project being developed on the MQB-A0 IN platform, with up to 95 per cent localisation levels. In February, the company registered an 84 per cent year-on-year growth in sales, primarily driving on the Taigun it launched last year.
RIL, which had over 1,470 retail outlets, is said to be running only 350 of those at present.
Maruti Suzuki says it has sold at least one car in 418,000 villages.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
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.
With interest rates on car loans adversely impacting domestic sales, many companies are aggressively pushing up their export targets, especially with India becoming a small car hub.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
The Indian auto industry is thriving on the consumers' tendency to upgrade as a new study claims that nearly two-thirds of the new cars are purchased by people who had previously owned a car, while one fourth of them previously riding two-wheelers.
Jimny will be priced between Rs 12.7 lakh and Rs 15.05 lakh.
Delhi, labelled the world's most polluted city in a 2014 World Health Organization survey, alone makes up about 7 per cent of total Indian auto sales.
During April, Maruti Suzuki India's domestic car sales were up 2.72 per cent at 86,481 units, as against 84,188 units in the same month last year.
General Motors HAS appointed Arvind Saxena, former Managing Director of Volkswagen Passenger Cars India, as the President & Managing Director of its Indian unit.
While retail sales at dealerships have suffered the full impact of demonetisation, the growth in wholesale volumes comes as dealers had relatively lower inventory after Diwali in October.
According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.
Don't get carried away by the current rally; be picky and take a stock-specific approach.
The GST Council in its meeting next week is likely to consider a proposal for making changes in the monthly tax payment form -- GSTR-3B, which would include auto-population of outward supplies from sales return and non-editable tax payment table, officials said. The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability. Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Brokerages expect Nifty50 firms to post 11.8% growth in net profit in Q1 but sales may decline
Technology firm Wipro has a "high probability" of getting included in the benchmark Sensex, while two-wheeler major Bajaj Auto is the "most likely" deletion candidate, according to an analysis done by Brian Freitas, an analyst at independent research provider Smartkarma. The changes to the index will be announced mid-November, and will become effective from December 17. The December review uses the 6-month average market capitalisation and trading turnover data between May 1 and October 31 to determine changes.
The company's sales had declined over 14 per cent last year.
The company wants to corner 10 per cent market share with both the brands, Nissan and Datsun, contributing half of sales by then.
Maruti Suzuki India (MSI) on Wednesday reported over two-fold jump in its consolidated net profit to Rs 1,036 crore for the first quarter ended June 30, mainly due to a low base in the year-ago period. The auto major had posted a net profit of Rs 475 crore in the COVID-hit April-June quarter of the last fiscal. Its net sales rose to Rs 26,512 crore in the June quarter compared to Rs 17,776 crore in the same period of 2021-22.
The South Korean auto major which entered India in 1998 through its flagship compact car Santro, has reached the 20 lakh (2 million) car production for domestic market in 12 years.
Govt may not announce any new concessions in excise duty
The company said its domestic sales rose 19.9 per cent during the month to 90,093 units as against 75,145 units in July 2013.
American auto giant Ford is likely to retain a stake and continue supplying engines and some of the components for Jaguar and Land Rover, even after the sale of the two British luxury brands, media reports said in the United Kingdom.
Riding on new launches, Japanese auto major Honda is set for over 62 per cent growth in its sales in India this year at around 1.8 lakh units.
The 30-share Sensex gained 271 points to end at 28,805 and the 50-share Nifty ended up 84 points at 8,712.
It manufactures cars ranging from entry-level hatchbacks to sedans to sport utility vehicles to vans to pick-up trucks. It also has a range of electric and hybrid vehicles
The sedan portfolio grew 39 per cent in the January-September 2015.
'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 sector has grown at a mere 5% rate in the first six months.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
