Auto Industry News
COVID-19 outbreaks across China and the associated reductions in economic activity have already hit the auto industry hard, with car sales dropping 10.5 per cent in March
With buyer demand high, materials scarce and the war causing new disruptions, vehicle prices are expected to head even higher well into next year
As per the latest data by Society of Indian Automobile Manufacturers (SIAM), two-wheeler dispatches to dealers also witnessed a dip of 17 percent at 15,28,472 units, compared to 18,49,546 in September 2020.
The domestic two-wheeler volumes in 2021-22 are expected to grow 10-12 percent now as against 16-18 percent earlier while the passenger vehicle segment may see 17-20 percent growth now as against 22-25 percent expected earlier, the rating agency said
Auto stocks jump up to 10.5 percent on sales growth in January 2021, new voluntary vehicle scrapping policy
Auto majors Maruti Suzuki, Hyundai Motor, M&M, Tata Motors, Honda and MG Motor reported growth in their domestic passenger vehicle sales in January.
SIAM says auto sector left out in economic package; to seek govt's direct intervention for revival of industry
SIAM said it had several engagements with the government at various levels and was looking forward to some direct fiscal measures for the auto industry from the Centre in the Rs 20 lakh crore stimulus package.
Maruti Suzuki India Q4 net profit dips 28% at Rs 1,322 cr on lower sales volume, higher promotion expenses
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 percent decline in consolidated net profit to Rs 1,322.3 crore for the fourth quarter of 2019-20, on account of lower sales volume, higher promotion expenses and depreciation expenses
Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report
French auto-maker Renault on Tuesday said it has enhanced the digital platform allowing people to book the company's range of cars besides providing financing options to customers
Japanese automaker Honda Motor Co. sank deeper into losses for the fiscal quarter that ended in March, as the damage to the industry from the coronavirus outbreak hurt sales and crimped production
Coronavirus Lockdown: Maruti Suzuki resumes operations at Manesar plant on single shift basis after 40 days of closure
The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said it has resumed operations at its Manesar plant in Haryana after around 40 days of closure due to the coronavirus-led lockdown
The auto industry is already reeling, with sales of cars, SUVs, trucks and motorbikes falling 18 percent last fiscal year to 21.5 million vehicles due to an economic slowdown.
Automobile majors, including Maruti Suzuki India, Mercedes-Benz, TVS Motor, and Royal Enfield, on Wednesday announced the resumption of or plans to restart production at their respective manufacturing units following the relaxation of guidelines by the government for the third phase of lockdown
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it would resume operations at its Manesar plant from 12 May
Coronavirus Lockdown: Hero MotoCorp resumes manufacturing operations at three plants; product roll-out to begin from Wednesday
The country's largest two-wheeler maker Hero MotoCorp on Monday said it has resumed operations across three of its manufacturing plants with actual product roll-out expected to begin from Wednesday
Govt seeks suggestions from auto industry leaders for resource mop-up; sector demands financial package
The government of Thursday sought suggestions on methods of resource mobilisation from captains of the automobile industry, who raised several demands for a financial package to overcome the impact of the COVID-19-induced lockdown
German automakers Volkswagen, BMW and Mercedes on Monday said they have introduced online sales initiatives in India in order to help customers book vehicles from the safety of their homes amid the coronavirus pandemic
A week after the Centre announced allowing partial resumption of production by industries, automobile companies including Maruti Suzuki, Toyota, Tata Motors and Mercedes-Benz are yet to resume production stating that the entire supply chain, including component suppliers and dealers, needs to start operating to re-start production
Coronavirus Lockdown: Gurugram administration permits Maruti Suzuki to operate Manesar plant on a single shift basis
The company said it will resume operations only when it can maintain continuous production and sell vehicles, "which is not possible at this point of time"
Coronavirus Lockdown: Daimler India extends warranty, service period for BharatBenz vehicles by two months
Daimler India Commercial Vehicles (DICV) on Tuesday said it has extended by two months warranty and scheduled service period for its BharatBenz vehicles due to the ongoing lockdown