Automotive Industry

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%

Connected cars poised to become common phenomenon in India in near future with adoption of EVs: Study

The consumers' willingness to pay for advanced and connected technologies has improved over the last two years which is evident in the rising sales of cars

Maruti Suzuki cuts prices of select models by Rs 5,000 after Nirmala Sitharaman's announcement of corporate tax rate cut

The country's largest carmaker Maruti Suzuki India on Wednesday reduced the prices of select models by Rs 5,000 (on ex-showroom prices)

Auto industry to benefit from corporate tax revision; will attract FDI in manufacturing sector: ICRA

The automotive industry, which accounts for about half of the country's manufacturing GDP, is likely to be one of the key beneficiaries of corporate tax revision, rating agency ICRA said on Monday

Indian auto industry growth story about to collapse: Tata Motors CEO and Managing Director Guenter Butschek

Indian automobile industry growth story is about to collapse due to ongoing slump triggered by a variety of factors, including low consumer sentiment and non-availability of liquidity, Tata Motors CEO and Managing Director Guenter Butschek said on Thursday

Economic slowdown: Online hiring slips 5% in Jan-June 2019; automotive, ancillaries, tyre sectors hard hit

Metro cities have shown a lower hiring demand like Delhi (3 percent), Mumbai (0 percent), Bangalore (1 percent) and Hyderabad (3 percent) showed a marginal increase in demand

Sundaram-Clayton, Hero MotoCorp announce temporary production shutdown amid slowdown in auto industry

TVS group auto component maker Sundaram-Clayton Ltd (SCL) on Friday said it will be shutting its Padi factory in Tamil Nadu for two days owing to a slowdown in the automotive industry, joining two-wheeler major Hero MotoCorp which also announced the closure of its plants for four days

Demand slowdown to curtail tyre industry revenue growth to 3-4% in FY20: ICRA

Ratings agency ICRA on Tuesday said demand slowdown will curtail tyre industry's revenue growth to 3-4 percent in 2019-20, and margins are expected to decline

Auto majors in slow lane; July sales see double-digit slump as consumer sentiment remained subdued

Continuing to face rough weather, Maruti Suzuki, Hyundai and three other auto majors reported a double-digit decline in sales in July as consumer sentiment remained subdued

India's tyre sector may grow 7-9% in 5 years buoyed by demand, lower crude; domestic margins to improve

The domestic tyre industry has benefited from strong growth in both original equipment (OE) and replacement segments in the ongoing fiscal, according to ICRA note.