Page 19 - Automobile

Yes, there is a downturn in auto sector but who should do the fixing?

Instead of industry asking the government to address the income effect, the government should ask the industry to address the substitution effect

Slowdown blues: Auto sales down 23.5%, worst slump in two decades

Maruti Suzuki India posted 36.14% decline in its August sales at 93,173 units

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

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

Maruti asks spare parts industry to make electronic components in India

The country's largest carmaker Maruti Suzuki India on Friday asked the components makers to start manufacturing vehicle electronics and certain key parts in India in order to cut imports of such articles. The local manufacturing of such parts would not only help Maruti Suzuki India (MSI), but also support the government's Make in India initiative, MSI MD and CEO Kenichi Ayukawa said while speaking at the ACMA annual convention here. "I have a challenge and an invitation to offer to you (components industry). The MSI car is over 90 per cent local, component-wise. But some key parts and electronics are areas where we still need to import. But we want to Make-in-India," Ayukawa said. If anybody can make electronic components and some key parts in India with quality and reliability, it will not only help MSI, but the entire Indian automobile industry, he added. Ayukawa said the best opportunity to win in the future lies in developing in-house research and development (R&D) ...

Motown crisis: Contract workers bear the brunt of slowdown in auto sector

The second of a three-part series on auto sector crisis talks of how some allege that layoffs are to put pressure on the Centre to reduce GST

'Best time to buy diesel car': Companies pitch offers as BSVI norms near

Ahead of the BSVI norms that take effect on April 1, 2020, passenger vehicle makers are pulling out all stops to woo the buyers in a bid to beat the price hike of 8-15 per cent on diesel models

Automakers call for tax cuts as sales fall and analysts slash forecasts

Passenger vehicles sales in the country are set to fall for a tenth consecutive month in August.

From Maruti Suzuki to Tata Motors, auto sales see steep fall in August

Auto sales have more than halved; executives await impact of government sops

Maruti reports 33% drop in August sales at 1,06,413 units; exports down 11%

Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 23.9% at 54,274 units as against 71,364 cars in August last year.

Nothing much in stimulus to make consumers happy, say carmakers

Auto sales in India have been falling for nine straight months

As animal spirits sag, FM's announcements may fall short of spurring growth

As India's investment and consumption activity worsened in July, the measures announced by the FM to revive the economy will boost market sentiment but are unlikely to propel growth

Goldman Sachs sees more pain in store for the Indian economy

The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006, the report said.

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:

Smartphones beat slowdown as sales up 10%; Xiaomi tops Indian market

According to analysts, one of the key factors that differentiates smartphones from other products is their expose to the e-commerce market

Auto sector gets a breather as FM announces measures to boost demand

Resumption of car purchase by govt departments, increase in depreciation to 30% may boost sales

Stocks of top 10 auto components shed 21% in 6 months on demand slowdown

Replacement market helped battery makers do better than other segments in the June quarter

Passenger vehicle sales drop 11% YoY, but up 4% MoM on monsoon revival

Sales of passenger vehicles and two-wheelers drop YoY in July even as two segments perform better than June

SBI extends credit period to 75-day for auto dealers facing slack in demand

To help the auto sector tide over stress, the country's largest lender State Bank of India (SBI) has extended the credit period of automobile dealers that are facing demand slowdown and inventory build up. "We are actively engaging with the auto dealers and in case of hardship faced by them the bank is extending credit repayment period on the case to case basis," SBI managing director (retail & digital banking) told reporters here on Sunday. Normally the credit period is of 60 days but the bank has extended the same to 75 days in some cases or 90 days in others, he added. As a bank, we can only focus on the financing side. Our main focus is make available funds at cheaper cost for those retail customers keen on buying cars. We also fund the dealers when they buy cars from the manufacturer. However, for the aspect of revival of demand, only government can step in," he said. Gupta further said there has been a slight downturn in auto loans from the bank in recent months due to ...