Page 2 - Auto Sector

JSW MG Motor ranks highest in dealer satisfaction, says Fada survey

Hyundai, which was the topper last year, drops to third position

Mercedes-Benz to manufacture EQS SUV 580 in India, first outside the US

Luxury carmakers are focusing on bringing in more models that will be made in India

Statsguru: New schemes to boost EV adoption, align with climate goals

The schemes, PM Electric Drive Revolution in Innovation Vehicle Enhancement (PM E-DRIVE) and PM-eBus Sewa-Payment Security Mechanism (PSM) will replace existing EV subsidy schemes

Claims of ICE vehicle demise self-serving: Bajaj Auto's Rakesh Sharma

Sharma talks about Bajaj's mega electric vehicle play

Auto dealers can claim ITC on demo cars used for promoting sales: CBIC

Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law, the CBIC has said. However, no ITC would be available if demo cars are used by dealers for their own purpose during the course of the business. In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said authorised dealers are required to maintain demo vehicles at their sales outlet as per dealership norms which are used for providing trial runs and for demonstrating features of the vehicle to the potential buyers. These vehicles are purchased by the authorised dealers from the vehicle manufacturers against tax invoices and are typically reflected as capital assets in books of account of the authorized dealers. As per dealership norms, these vehicles may be required to be held by the authorized dealers as demo vehicle for certain mandatory period and may, thereafter, be sold by the dealer at a written down value and applicable tax is ..

Auto sector needs to focus on customer service, quality assurance: Gadkari

The Indian automobile industry is at the cusp of a revolution and it needs to focus on customer service, after-sales and quality assurance, Union Minister Nitin Gadkari said on Wednesday. In a video message to the Auto Retail Conclave organised by Federation of Automobile Dealers Associations (FADA), Gadkari, the Minister for Road Transport and Highways acknowledged that automotive dealers play a key role in realising the government's mission of a self-reliant India. "The automotive industry is at the cusp of the revolution, and as we look to the future, it is critical that the sector continues to innovate, especially in areas like customer service, after-sales and quality assurance," Gadkari said. The minister further said, "As a distributor of automobiles, you play a pivotal role in the government mission of 'make in India' and contribute significantly to realising our vision of self reliant India." Stating that the government deeply values the role that FADA and its members play

Fada seeks legislative safeguards to prevent OEMs exiting abruptly

Automobile dealer body FADA on Wednesday sought legislative safeguards to prevent companies from exiting the country abruptly in order to safeguard the interest of dealers and employees working at the dealerships. Speaking at the 6th Auto Retail Conclave here, newly appointed President of the Federation of Automobile Dealers Associations (FADA) C S Vigneshwar also asked the government to issue strong directives to state governments for the full implementation of the CMVR (Central Motor Vehicles Rules). Addressing Minister of Heavy Industries HD Kumaraswamy, Vigneshwar said, "We need your support, and hence we request legislative safeguards to prevent OEMs (Original Equipment Manufacturers) from exiting the country abruptly, leaving dealers, employees, and customers stranded." Various automotive OEMs like Ford, General Motors and Harley Davidson have ceased sales operations in India since 2017. As per FADA, it has resulted in layoffs of thousands of people working at ...

Will Maruti put India's EV mission on fast lane? MSIL MD & CEO believes so

Japanese carmaker wants 'sustainable' growth in electric car market by addressing three major concerns

With 45% growth, momentum expected to continue even in 2025: Toyota

TKM's sales boom comes at a time when other car companies are seeing a slowdown amid low demand and high inventory with dealers

Kia tops Fada's overall customer experience index in mass-market space

In the luxury segment, Audi takes the top spot

Auto parts manufacturer Kross' Rs 500 cr IPO to open on September 9

Auto parts manufacturer Kross Ltd is set to float its Rs 500-crore initial share sale on September 9 for public subscription. The three-day Initial Public Offering (IPO) will conclude on September 11 and the bidding for anchor investors will open for a day on September 6, according to the Red Herring Prospectus (RHP). Jamshedpur-based company's IPO is a combination of a fresh issue of equity shares worth Rs 250 crore and an Offer for Sale (OFS) aggregating up to Rs 250 crore by the promoters. Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Besides, a portion will be used for general corporate purposes. Founded in 1991, Kross is a diversified player focused on manufacturing and supply of trailer axle and suspension assembly and a wide range of forged and precision machined high-performance safety critical parts for medium and heavy commercial vehic

Maruti to drive deep into small towns via Arena Satellite showrooms

Banerjee said that in the digital era, there is no real divide between urban and rural. However, in Tier-II and Tier-III cities, there is an affinity for hatchbacks

Italian carmaker Maserati banking on entrepreneurs to drive India story

Maserati, which currently operates just a single dealership in India, sold less than 50 cars in the country in 2023

Japanese Pioneer plans to scale up biz with Indian automakers for future

Japanese car audio and entertainment system maker Pioneer on Tuesday said it is eyeing partnerships with automakers in India as part of its future growth strategy. The company globally works with various automakers as a supplier of automotive items like infotainment systems, speakers etc. In India, however, the company's focus till date has been primarily on the aftermarket business. "In India, honestly, so far in the last 16 years, the focus was never on the OEM side, and which I would say, is a major shift. "So, going forward, one of the main growth agendas is going to be getting established in the OEM (original equipment maker) world," Pioneer India MD Aniket Kulkarni told PTI in an interaction. The partnerships with automakers is going to be one of the focus areas going forward, because in terms of growth, it has huge potential, Kulkarni stated. He noted that the company is already in talks with various automakers but declined to share details. "So, there are very active pro

Principal scientific advisor bats for inclusion of e-trucks in FAME-III

Outlines comprehensive plan to transition India's trucking sector to zero-emission vehicles

TVS launches new Jupiter 110; targets over 12% growth in scooter segment

At present, the industry is growing at a rate of 8 per cent, and TVS Motor is growing at a rate of 12 per cent

EMPS progress: Achieves 60% of revised target, supporting 334,260 vehicles

Government sources credit the turnaround to the onboarding of new players and the addition of more models by existing companies, which has driven increased disbursement

Waning demand expected to hit breakneck rally in India's auto stocks

India's NSE Nifty Auto Index is down 4.1 per cent in August, more than double the decline in the Nifty 50 Index

M&HCV sales likely to surpass pre-Covid-19 peak of 419,000 units in FY25

Sanjeev Kumar, president - MHCV, Ashok Leyland, said that the first quarter sales growth is currently around 8 per cent, driven by demand for buses

Thar ROXX launch boosts M&M stock price by 3%; up 16% in 3 months

The surge in the stock price followed the company's announcement of the launch of Thar ROXX, its latest sports utility vehicle (SUV).