Auto Sector

Union Budget 2021: Auto sector expects relief in custom duties; EV units seek tax holiday

The auto industry expects relief from the Union Budget 2021 in multiple areas including direct and indirect taxation

Union Budget 2021: Policies, regulations must be extended to farm-based EVs

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

Union Budget 2021: Auto industry optimistic about recovery from pandemic; expects cut in GST rates

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.

Union Budget 2021: Auto dealers' body demands depreciation benefits for individual taxpayers

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