The PLI scheme will bring fresh investments of over Rs 42,500 crore in five years and incremental production of over Rs 2.3 lakh crore, said Union Minister Anurag Thakur
The auto sector is enthused by the government's move on long-awaited scrappage policy and focus on better road infrastructure
Union Budget 2021: Banking, health, infra sectors welcome announcements; hospitality, tourism regret lack of immediate support
Hospitality and Tourism roughly account for 10 percent of India's GDP and employ nearly 9 percent of India's working population and yet, it failed to find space in the Union Budget, FHRAI vice-president Gurbaxish Singh Kohli said
The auto industry expects relief from the Union Budget 2021 in multiple areas including direct and indirect taxation
In order to develop the agriculture sector, significant policies and regulations must be extended to farm-based EVs in national as well as local contexts
The removal of restrictions to avail the input tax credit of GST paid on automobiles for businesses would make vehicles more affordable when used for business purposes, besides fulfilling the basic intention of GST to eliminate cascading of taxes.
Union Budget 2021: Defer timelines for Phased Manufacturing Program for EVs, automakers need time to set up facilities
Incentives on scrapping old vehicles and replacing them with revised emission norms compliant vehicles will catalyse automotive production and sales.
In its Budget recommendations, the Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual tax collected at source of 0.1%
Nissan settles dispute with Tamil Nadu over unpaid dues, damages; begins process to withdraw international arbitration: Report
The dispute arose after Nissan said Tamil Nadu hadn’t paid certain incentives under a 2008 agreement to set up a car plant in the southern state.
COVID-19 Impact: Boeing expected to announce job cuts in US after aviation sector rocked by plunging travel demand
In April, Boeing chief executive Dave Calhoun said the company had “begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary.”
Renault, Nissan rebuild alliance to ride out coronavirus storm; thousands of jobs to be at risk after restructuring plans: Report
When Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world’s biggest automaker by 2022.
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: 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 major has commenced production at the facility adhering to 100 percent compliance of safety and social distancing norms, Hyundai Motor India said
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
Toyota Kirloskar Motor says working with dealer partners to re-stimulate demand; digitalises sales process
Toyota Kirloskar Motor said the restart of the entire value chain and its restoration will be gradual, as the industry is facing varied challenges
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"