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auto industry News
Demand slowdown: A coordinated policy response, addressing both structural and cyclical factors, is needed
The slowdown in demand is a fact, but the consensus that banks are not extending enough credit to help us navigate through the current slowdown is misplaced. This is a false narrative as Economics 101 suggests a bi-directional causality between economic growth and credit off-take.
Most obvious first aid would be GST cut or cess removal: Anand Mahindra
He also said that while the industry needs support for both wholesale and retail financing and the rate cuts necessary for revival have been put in place, he asked the lenders to be more supportive to the suppliers and dealers.
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Hit with arrest of former chairman Carlos Ghosn, Nissan profit nose-dives
Yokohama-based Nissan said profit for the fiscal year through March 2020 will drop to 170 billion yen ($1.5 billion), as restructuring and product development expenses combined with currency-related losses and rising material costs slam earnings.
May numbers: Auto sales up 12.1 per cent on favourable base
Two-wheelers slowed down significantly, clocking in only 9.2% growth y-o-y as against a stronger 16.9% y-o-y in April.
Carmakers face billions in European CO2 fines from 2021: Study
European Union nations agreed in 2014 that carmakers should limit CO2 emissions to 95 grammes per kilometre across their entire model range within seven years. The figure for 2015 stood at some 130 grammes per kilometre on average.
Frequent changes in GST rates to impact investment: Hyundai
The GST Council last week decided to hike cess on mid-size cars by 2 per cent, on large cars by 5 per cent and on SUVs by 7 per cent to bring tax rates on these cars at pre-GST levels.
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Auto industry to drive Make in India
With India emerging as one of the world’s largest auto markets — with annual sales of 19.8 million vehicles in FY15 — the auto industry is set to become the engine of the government’s ‘Make in India’ initiative, according to an EY report.
Auto industry: Out of the woods yet?
If we get a stable govt,the auto industry may well see a new economic boom.
Layoffs imminent in auto industry as car sales dip,says SIAM
SIAM is painting a doomsday scenario for the industry and its workers as sales dip.
Bajaj Auto bike sales down 12% in April
Total vehicle sales of the company stood at 3,44,178 units compared to 3,81,590 units a year ago.
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