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auto sector News
To tide over slump, M&M offers cars on rental basis
On its part, M&M will service the vehicles as and when required, with the charges being borne by Revv.
Ashok Leyland set to suspend production at several plants in September
The Chennai-based firm announced 16 non-working days for its facility in Ennore, five days at Hosur (Tamil Nadu) unit, 10 days each in Alwar (Rajasthan) and Bhandara (Maharashtra) unit and 18 days in Pantnagar (Uttarakhand) facilities.
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Auto sales witness worst-ever fall in August
Vehicle sales across categories, including passenger vehicles (PVs) and two-wheelers and commercial vehicles (CVs) stood at 18,21,490 units last month, as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
Govt may be staring at Rs 30,000 crore revenue loss if GST on auto cut to 18 per cent
The auto industry has been demanding GST reliefs given the flagging sales. Auto sales across segments fell 20 per cent y-o-y in August, the sharpest monthly decline in nearly two decades.
Auto makers see sluggish domestic sales in Aug; some see up to 50% fall
The utility vehicle segment for Maruti Suzuki, however, witnessed a marginal 3 per cent rise in sales over that seen in the same period last year.
MSI chairman RC Bhargava hopeful of upturn during festival season
On Friday, the central government lifted the ban on purchase of new vehicles by government departments and allowed auto buyers enhanced depreciation of 30 per cent.
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No deadline for transition to electric mobility, say government sources
The Niti Aayog has suggested transition to full electric vehicles (EVs) for three-wheelers by 2023 and two-wheelers with an engine capacity of less than 150cc by 2025.
Car sales hit rock bottom, discounts at all-time high
The companies and dealers are in a way pushed against the wall currently. They need to exhaust the inventory, as six months from now BS-VI emission norms would kick in.
Auto sector SOS: Need stimulus, cut in taxes as gloom deepens
In a meeting with the Finance Minister, industry leaders drew attention to challenges, including job losses.
Automobile dealers feel squeeze as norms for loans get tightened
In a letter to Hyundai, SBI had communicated it has reduced the credit period from 90 days to 60 days, with a 15-day grace period to pay back a loan.
auto sector Videos
Cars To Become Expensive, How Will Budget 2016 Impact The Auto Sector
In his budget 2016 speech, the Finance Minster announced 1 per cent infra cess on all cars and an additional 2.5 per cent tax on diesel cars of all capacities. There’s an additional 1 percent tax on luxury cars and 4 per cent on SUVs.
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