Page 17 - Auto Sector

Fitment panel rejects demands of GST rate cut for auto, biscuit industry

The Committee also rejected the telecom ministry's proposal to reduce GST rate for telecom services from the present 18 per cent to 12 per cent, sources said

No slowdown, auto sector making hue and cry to get package from govt: CAIT

Citing an example of new vehicle launches, CAIT said companies have received huge number of bookings, which do not reflect any slowdown in the sector

Slowdown-hit auto components' outlook revised from stable to negative: Icra

Further, liquidity issues across the aftermarket dealer channel have led to de-stocking, curtailing fresh demand from component manufacturers, it added

Auto sector's rate-cut hopes fade as GST cess collection declines

Some states have asked for rate cuts for 5-star hotels; relief for cement, biscuit industries may be discussed

Ola, Uber not 'strong factor' in auto sector slowdown: Maruti Suzuki

Ownership pattern in India still has not changed and people purchase cars with an "aspirational aspect", MSI Executive Director (Marketing and Sales) Shashank Srivastava said in an interview

Top 10 biz headlines: FY20 growth forecast cut, govt's big EV push & more

From economists cutting their projection of the GDP expansion for 2019-20 to the govt considering more sops and benefits to push electric mobility, here are the top business headlines for Wednesday

Nifty may slip below 10k by March: Dharmesh Kant, IndiaNivesh Securities

Kant said the Automobile space was at a disruptive stage and a steep correction in stock prices might see some value buying in this segment

Auto industry may have to wait longer for GST cut on cars from 28% to 18%

Will be a political call now; state finance ministers to decide on September 20

100 days of Modi govt: We know how to take challenges head-on, says PM

Smriti Irani described the first 100 days as historic, and tweeted some of the steps taken

Old troubles mar new term: A status check of Modi govt's 100 days

The first-quarter GDP data showed the economy losing steam

Used car market on growth track, but auto crisis casts a shadow

Analysts and industry representatives fear that the slowdown in new car sales could have a spillover effect on the used car market

Slowdowns are the nurseries of capitalism, says Asha Ram Sihag

Sihag also took a swipe on the industry for calling it an unprecedented slowdown

All major economies are experiencing a slowdown, says chairman of TVS Motor

We are hoping that by January-March quarter, we should see a revival in demand, says TVS Motor Chairman Venu Srinivasan

No plan to ban petrol, diesel vehicles: Gadkari allays auto sector fears

Gadkari said he would take up a discussion with the finance minister for extending possible export incentives on automobile makers, as has been done for the sugar industry

Maruti to stop production at Gurugram, Manesar plants for two days

The company will observe 'no production day' on September 7 and 9 at Gurugram and Manesar plants

Auto dealers unsure of a revival in consumer sentiment in festive season

A slump during the festive season would eliminate any chance of revival of the auto sector this financial year

GST Council may cut tax on hybrid vehicles as auto sector battles slowdown

The government is examining a rate reduction for such vehicles by doing away with the cess, which will bring down the tax incidence from 43% to 28%

Mahindra and Mahindra's sales drop 25% to 36,085 units in August

The company had sold 48,324 units in the corresponding month last year, M&M said in a statement.

Named after Hercules's son, the Kia Seltos spells strength and speed

The manual gear shift is a bit tricky and being a six-speed setup, the reverse slot is positioned to the front

Slow down blues: Auto industries banking on new launches to revive demand

As of now, carmakers introduced 12 new models in the last four months, while pulling out old ones. Here's the list of new cars: