More bad loans in offing? Carmakers tie-up with banks to offer low interest rate schemes to attract customers
Banking sources say the Finance Ministry is pressuring banks to increase lending, though they are already saddled with over $120 billion of bad loans,
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.
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
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
Ferrari rolls out coronavirus testing to get staff ready for work; to serve as blueprint for manufacturers to resume production
Under its “Back on Track” project, Ferrari staff, families and suppliers first take blood tests to see if they’re clear and will then be given an app which will alert them if they’ve been in close contact with any scheme members who contract COVID-19.
Coronavirus Outbreak: Availability of components critical to restart manufacturing operations, say automakers
Major carmakers like Maruti Suzuki, Hyundai, Toyota and Honda have not yet resumed production at their factories stating that availability of components is a prerequisite to re-start operations at factories, which continue to remain inaccessible due to the nationwide lockdown
Coronavirus Outbreak: SIAM seeks GST rate cut, incentive-based scrappage policy to revive auto sector
SIAM has also asked for fund allocation for diesel/CNG bus procurement by state transport undertakings, over and above the allocation for electric buses under FAME 2 scheme.
Coronavirus Outbreak: Automakers push to reopen plants from Wuhan to Michigan; social distancing, masks to be used for employee safety
Auto manufacturers and suppliers are converging on a consensus that temperature screening, daily health questionnaires, assembly lines redesigned to keep workers 3 to 6 feet (0.9 m to 1.8 m) apart, and lots and lots of masks and gloves can enable large-scale factories to operate safely
Economic slowdown, weak consumer sentiment, coronavirus outbreak in China will continue to impact auto sales: Fitch
The auto sector also faces additional challenges from the adoption of stricter emission standards from 1 April
Auto crisis: India's vehicle production likely to shrink by 8.3% in 2020; coronavirus spread may hit supply chain, says Fitch
The agency said that it believes that the weak domestic demand for new vehicles will see India's vehicle production continue to contract in 2020.
Renault to start search for new CEO after Carlos Ghosn scandal; Nissan announces China unit head Makoto Uchida as CEO
The succession proposal for Renault's current Chief Executive Thierry Bollore could be on the agenda of the next board meeting on 18 October
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Automakers Honda, Toyota and Maruti Suzuki India are hoping that this festive season will bring some uptick in demand although "great signs" of recovery do not seem to be in the market due to the prevailing negative sentiments
July vehicle sales lowest in 19 years: Automakers need a helping hand; question is whether govt is willing or not
Commercial vehicle sales were down 25.71% to 56,866 units in July compared with 76,545 units in July 2018.
The slump in the country, along with a simultaneous slide in Chinese auto sales, is a blow for automakers wrestling with higher costs driven by more stringent emission norms and a push to develop electric cars.
Shares of automakers fell by up to 3 percent on Monday after NITI Aayog asked industry body SIAM along with conventional two and three-wheeler makers to suggest within two weeks, concrete steps towards the transition to electric mobility
In 2018, about 100,000 metric tons of lithium-ion batteries were recycled globally.
Narendra Modi's 'Make in India' a casualty as steel, auto firms spar over sourcing; minister seeks relaxation in import rules
The steel ministry in August announced stringent import rules for some high-grade steel products that are sourced by carmakers from countries such as Japan and South Korea but not yet manufactured in India.