Airlines say ATF fuel prices in India are 40 per cent higher than in countries such as Singapore. Jharkhand, Chhattisgarh and Maharashtra
The government did not tell us why our economy had imploded. The prime minister simply stopped speaking on the subject, asserts Aakar Patel.
The used car market is now 1.2 times the size of the new car market.
The commercial vehicle business is one of the mainstays for the Tata group, highlighting the importance of Girish Wagh's appointment.
RIL is also more profitable than Tata Motors.
Big brands like Hyundai, Mahindra and Mahindra (M&M), Toyota and Renault have lost share.
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.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Concerned over elevated inflation, Reserve Bank of India on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Tata Motors, however, will not be able to meet this small demand and keep the Nano alive from October next year, when safety regulations for existing car models kick in.
Earlier, the administration had announced a 24-hour curfew on May 2 and 3 and asked Khargone residents to celebrate the Eid-al-Fitr and Akshaya Tritiya festivals at home.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
Investors turn their attention to export-driven sectors.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
While Renault reported an over 12 per cent decline in sales and lost market share, Market leader Maruti Suzuki grew over 19 per cent.
Note ban hits sales and registration of new cars; states work online payments model to deal with cash crunch. Ajay Modi and T E Narasimhan report.
After the latest spike in crude oil prices, petrol prices could potentially go up to around Rs 90 a litre making a dent in the consumer's wallet. This, the analysts fear, will push the cost of vehicle ownership in the country, further reducing the demand potential for the industry.
There are 230 million vehicles on the road, and counting. Bulk of these are under seven years old and once they get older, the industry estimates the requirement for spare parts and aftersales service to shoot up sharply.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
India has already pipped Japan as the world's third-largest oil consumer.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
The project, anchored by National Highways Authority of India in partnership with National Payments Corporation of India, is gaining momentum, with big banks such as ICICI and non-bank entities like Paytm have also entered the arena.
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BSE auto index surged 2%, capital goods, healthcare and oil & gas indices also up.
The country's top automaker in terms of revenue plans to launch a total of 50 products in the CV segment during 2018-19.
Net sales during the reported quarter rose to Rs 20,594.3 crore, up 14.4 per cent against the year-ago period.
In absolute terms, prices will go up by Rs 5,500 to Rs 47,000, depending on the model and prevailing prices.
"After sinking in Rs 6,000-7,000 crore in the Nano till date, what is the result?"
The auto major had posted a profit of Rs 3,945.47 crore (Rs 39.45 billion) in the same period a year earlier.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
From Alto to Audi, get car discounts of up to Rs 900,000
The auto industry expects lower taxes and interest rates from Budget 2015.
The ministry of civil aviation said on Thursday that about a third of operations will be allowed under strict norms when domestic flight services restart on Monday after a two-month hiatus due to the coronavirus pandemic, and all the airlines will have to adhere to the upper and lower limits of fares prescribed by the government.
Favourable response to launches, recovery in CVs will aid growth.
People can make purchases for the festivals on Sunday, when the curfew has been relaxed from 8 am to 5 pm, they said.
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 in Bengaluru.
'Given all the linkages, the monthly registration data for new vehicles, may well be the single most accurate indicator of India's economic health,' points out Devangshu Datta.
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