Page 18 - Auto Sector

Automakers welcome govt sops but are divided on festival season impact

Most agree, though, on the long-term benefits that the measures will bring in

Govt unveils measures to revive auto sector amid slowdown concerns

Also, BS-IV vehicles purchased up to March 2020 will remain operational for the entire period of registration, Finance Minister Nirmala Sitharaman said

LIVE: Govt gives FPI relief, makes loans cheaper, revs up auto sector

FM Nirmala Sitharaman is expected to announce steps to revive India's economic growth. Catch all LIVE updates here

India Inc grows impatient as economy slows down and Modi seems distracted

Govt pre-ocupied with Kashmir even as India Inc grows impatient as economy dips

Most of the slowdown is automobile industry's own making: Rajiv Bajaj

Bajaj, however, acknowledged that it is a difficult time for the sector and said that the government should not make it worse by raising registration fees

Amid slowdown, carmakers' bet on new launches pays off to an extent

Carmakers launched as many as 14 new models between April and July 2019

'Part of the business': Maruti says 3,000 temporary jobs cut in slowdown

Maruti chairman R C Bhargava wants the government to reduce taxes to help the automobile industry

Slowdown impact: Ashok Leyland starts staff separation schemes to cut cost

The company had earlier said it was implementing cost-cutting measures to save around Rs 500 crore to mitigate the impact of slowdown in the market

Art for the masses

The absence of a mass market for art means there is very little movement where it should be the most

Sundaram-Clayton to shut Padi factory for 2 days due to slowdown

Part of the TVS Group, SCL is the leading Indian manufacturer and supplier of aluminium die cast products to domestic and global automotive OEMS

From auto to banking, grumble of slowdown is getting louder for India Inc

The companies' combined net profit declined by 10.1 per cent yoy during June '19 quarter against 26.2 per cent yoy growth a year ago

Auto sector welcomes PM Modi's assurance on internal combustion engine cars

India's automobile industry is facing one of the most prolonged slowdowns in two decades. Sales have been in a slow lane for a year

Slowdown in auto sector: More layoffs coming in sales, R&D, says industry

With the deepening crisis in auto sector, which has seen the worst volume plunge in two decades in July, independent HR industry feels the maximum impact will be on temporary workers followed by service roles in sales & marketing along with R&D as OEMs are forced to cut production. While media reports say the sector has already culled 3.5 lakh jobs since April, the national OEM body Siam Tuesday said at their level itself more than 15,000 jobs were laid off this fiscal, and thousands lost their livelihood at the dealerships side where hundreds of them have been shuttered. The Automotive Component Manufacturers Association had last month warned that of 1 million potential job losses and called upon the government to do something urgent to arrest the deepening slowdown. The sector employs over 35 million, directly and indirectly and accounts for nearly half of the country's manufacturing output. The auto sector has been on a downhill since the past 18 months or so .

Automobile sales slump 18.7% in July; sharpest decline in nearly 19 yrs

SIAM said passenger car sales in July were also worst since December 2000 when the segment had declined by 39.86 per cent

Passenger vehicle sales fall for 9th consecutive month, drop 31% in July

Domestic car sales were down 35.95 per cent at 1,22,956 units as against 1,91,979 units in July 2018, according to data released by SIAM

Auto sector workers seek govt intervention to prevent job losses

Employees cited that till now job losses have mainly occurred on the part manufacturers' side, however, if the current market conditions prevail then downsizing might become a reality even in the OEMs

Tata Motors, Mahindra cut production to align with tapering market demand

Home grown auto majors Tata Motors and Mahindra & Mahindra (M&M) are suspending automobile manufacturing in order to adjust production with market demand. M&M on Friday said it will be suspending production for 8-14 days in the ongoing quarter while Tata Motors also confirmed taking steps to align manufacturing with tapering demand. In a regulatory filing, M&M said it would be observing 'no production days' in various plants for 8-14 days during the second quarter of 2019-20. When contacted, a Tata Motors spokesperson said,"as indicated earlier, external environment remains challenging, leading to demand contraction. We have aligned our production to actual demand and adjusted the number of shifts and contractual manpower". The companies are announcing production suspension at a time when the domestic auto industry has been going through one of the longest sales slumps. In April-July, M&M's total domestic vehicles sales dipped 8 per cent to 1,61,604 units as ...

Auto sector slowdown: Anand Mahindra calls for short-term booster dose

I believe the government's measures to push the auto industry towards change are sincere and far-sighted, Mahindra said

Auto industry leaders meet FM, seek stimulus package to spur demand

According to a source, the government wanted to understand from the industry about the reasons of the ongoing slump in demand

Anand Mahindra pitches for lower GST or cess rollback to revive auto sector

Pitching for a lower GST or a rollback of the cess to pull the automobile industry out of the slowdown, M&M group chairman Anand Mahindra on Wednesday said that a revival of the industry would have a ripple effect on the entire economy. The domestic auto industry has been in the throes of crisis for almost one year now as the sales are falling month after month, forcing manufacturers to temporarily shut factories and laying of workers. As many as 3.50 lakh jobs have reportedly been lost in the auto industry since the start of the fiscal. "I do believe that kick-starting the auto industry with a few short-term measures will serve a greater national purpose," said Mahindra addressing the company's shareholders at its 73rd AGM here. Along with long-term measures, the short-term measures also required that would remove the immediate barriers to making autos affordable, he said. "The most obvious and welcome first aid would be some temporary relief on the GST front, ...