Automobile Firms

Wadhera said job losses in the auto sector cannot be ruled out

They say the 10-day extension given for the sale of these vehicles will serve no purpose as consumer sentiment is not likely to revive after the lockdown is lifted

Citing an example of new vehicle launches, CAIT said companies have received huge number of bookings, which do not reflect any slowdown in the sector

The minister also said the government would also look into possibility of extending export incentives to the auto industry

At present, the sector has been impacted by a consumption slowdown which is a culmination of several factors like high GST rates, farm distress, stagnant wages and liquidity constraints

India is not a short-term story and we believe in its long-term growth, said BMW Group India CEO

Toyota, Hyundai halt production; auto part makers Denso, Bellsonica cut 350 jobs each.

The passenger vehicles market - particularly the volume-heavy entry- to mid-market segments - tends to be sensitive to fuel cost prices

Companies hope that GST will simplify the issue of accumulation of VAT credit and refund

From 52 per cent four years ago, the share of diesel cars shrunk to 26 per cent in May. This was also lower than the 34 per cent share it enjoyed last financial year, according to SIAM data

Maruti Suzuki, Mahindra & Mahindra and Tata Motors saw a rise of 5-25% in temporary and contract workers last year, making up nearly half of their manpower strength