Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
Dealers say there's been a 20-25 per cent drop in demand.
'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.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
The accused Abhishek Pandey was remanded to seven-day police custody by a Kolkata court on Wednesday. A senior police officer said, Pandey who had allegedly molested the 31-year old woman in his car on Saturday night was arrested from a guest house in Dumdum area, in the northern outskirts of Kolkata, on Tuesday night.
It is not clear if it was the same Innova that was following the explosives-laden Scorpio before the latter was parked near Ambani's residence in south Mumbai on February 25.
A consumer wins a case against a financial company for selling him a car online, but not transferring the ownership in his name.
The vehicle with explosives found near industrialist Mukesh Ambani's residence in south Mumbai had been stolen last week, and a letter found inside said this was only a 'glimpse' of things to come, police said on Friday.
Gujarat legislator Jignesh Mevani was granted bail by a court in Assam's Barpeta district on Friday in a case related to the alleged assault of a woman police officer.
Prohibitory orders banning the gathering of people were imposed in Karnal on Monday, a day ahead of a farmers' planned gherao of the mini-secretariat over the August 28 lathicharge episode, officials said.
Automaker Citroen on Wednesday said it has commenced home deliveries of C5 Aircross SUV, its first model in the Indian market. The company, which is a part of Stellantis group formed by the merger of two global auto majors FCA and Groupe PSA, is taking online bookings for the model and then directly delivering the SUV to customers from its Tiruvallur-based (near Chennai) manufacturing plant. It is the first of its kind sales initiative in the country. Citroen currently has showrooms across ten cities in the country, including Bengaluru, Ahmedabad, Chennai, Mumbai, Pune, Hyderabad, Kolkata, Delhi, Kochi, and Gurugram. For customers outside these cities, it has launched a 100 per cent direct online buying for its flagship model.
Regular visa, e-visa or stay stipulation, of such foreign nationals who have been stranded in India because of spread of COVID-19 in many parts of the world and also due to travel restrictions imposed by Indian authorities, and whose visas have expired or would be expiring during the period from February 1 midnight to May 3 midnight, would be extended till midnight of May 3 on 'Gratis' basis, after online application by the foreigner, the statement said.
Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales, according to a senior company official. The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products. Bullish on the expansion of the sales network, the automaker expects its CNG car sales to almost double this fiscal year over 2020-21.
Ahead of the upcoming Union Budget, Society of Manufacturers of Electric Vehicles (SMEV) has asked Finance Minister Nirmala Sitharaman to either rejig the FAME II scheme or reintroduce FAME I, saying the programme meant to promote EVs in its second avatar has been able to achieve less than 10 per cent of its target. The Rs 10,000-crore FAME-II scheme which is to be implemented over a period of three years, came into effect from April 1, 2019. It is the expanded version of FAME India I (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) which was launched on April 1, 2015, with a total outlay of Rs 895 crore.
Road and rail traffic was partially affected in some regions on Monday during a 'Bharat bandh' called against the Agnipath military recruitment scheme, while protests appeared to taper off in many states, with authorities stepping up security and imposing curbs after days of unrest.
Auto sales in April have started showing the impact of lockdowns that has put the brakes on the recovery of the sector, a report said on Tuesday. With more states announcing lockdowns and some more OEMs expecting to go for maintenance shutdowns, as many as 50 per cent of the dealers are likely to be impacted by the move, it added. However, the full-year prospects remain positive if the COVID wave recedes in the April quarter and the vaccination drive goes as planned, brokerage firm Centrum said in the report.
Society of Manufacturers of Electric Vehicle (SMEV) on Thursday said sales of EVs in India fell 20 per cent in the financial year 2020-21 to 236,802 units. In 2019-20 sales of electric vehicles (EVs), including electric two-wheelers (E2W), electric three-wheelers (E3W) and electric four-wheelers (E4W), stood at 295,683 units. For FY21, the E2W segment sales declined by 6 per cent to 143,837 units, as compared to 152,000 units in FY20, SMEV said in a statement, adding that the FY21 E2W sales included 40,836 high-speed and 103,000 low-speed E2W. The E3W segment registered sales of 88,378 units as against 140,683 units sold in FY20.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
Market leader Maruti Suzuki India's passenger vehicles sales declined by 2.34 per cent last month at 133,702 units. Hero MotoCorp reported total two-wheeler sales of 480,196 units last month, down 20.05 per cent.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to boost economic growth and address distress in various sectors
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.
Following the alleged desecration of the Maratha king's statue, miscreants in Belagavi shouted slogans and pelted government vehicles with stones and freedom fighter Sangolli Rayanna's statue was subsequently vandalised.
Registration of vehicles carrying vegetables, fruits mandatory from July 15.
With registration of over three lakh FIRs, Uttar Pradesh topped the crime list in the country, followed by Maharashtra, Madhya Pradesh, Kerala and Delhi, according to the latest data released by the National Crime Records Bureau for 2017.
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 Kerala high court on Tuesday asked the police not to take any action against actor Dileep, in connection with a new case registered against him and five others for allegedly threatening investigation officers probing the sexual assault of an actress back in 2017, till January 14.
Delhi government's odd-even scheme was launched in the national capital on Monday with common citizens giving it a mix response.
Among the Sensex constituents, Tata Motors was the biggest loser with 6.52 per cent fall, followed by Vedanta 5.09 per cent, Bajaj Auto 4.99 per cent, Maruti Suzuki 4.26 per cent and Tata Steel 2.65 per cent.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
Supreme Court slaps temporary ban on luxury diesel car sales in Delhi.
The protesters were demanding inclusion of Meghalaya in the Inner Line Permit regime thereby exempting it from Citizenship Amendment Act.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Market leader Maruti Suzuki sold 51,274 units, down 49.61 per cent from the same month last year. Hyundai Motor sold 21,320 units, a decline of 49.25 per cent and Mahindra & Mahindra sold 8,075 units, down 54.54 per cent.
'Kudos to the SC & the CJI for standing up to the Govt on the gross misuse of this colonial law of sedition to silence dissent'
Now that the Telangana state has taken birth with a chief minister at the helm, Vicky Nanjappa / Rediff.com gives a lowdown on the changes that people, who were once part of the united Andhra Pradesh, will go through
The bid amount will go towards three charities -- Naandi Foundation, Swades Foundation and PM-CARES -- with Mahindra contributing a matching amount, reports Rajesh Karkera.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
Opposition-ruled states of Kerala, Karnataka, and Tamil Nadu opposing the Bill as they fear losing some of their powers
Seeing the good recovery rate, authorities in the city have for now put on hold their plans to use stadiums as makeshift COVID-19 care facilities.
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