Page 3 - Automobile Sector

Auto Expo being pegged as launchpad for revival of slowdown hit sector

Slowdown-hit auto industry is looking forward to the upcoming Auto Expo in February 2020 as the 'launching pad for revival' despite some big regular companies skipping the biennial motor show, SIAM said Friday. Industry body Society of Indian Automobile Manufacturers (SIAM) said that over 60 new launches and unveilings of vehicles are expected at the expo to be held from February 5-12, where China's Great Wall Motor Company and First Automotive Works (FAW) will make their debut along with MG Motors India. Notable absentees from the expo will be Honda, Toyota, Ford, BMW, Audi, Lexus, Volvo and Jaguar Land Rover along two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Co. Holding the flag up for the industry are the likes of Maruti Suzuki, Hyundai, M&M, Tata Motors and Kia along with Skoda and Volkswagen brands, which are making a comeback after skipping the 2018 edition. "Auto Expo 2020 will be the launching pad for the revival of the auto industry, we feel," SIAM President

Maruti stock gains lost ground from improving expectation of volume growth

Scores over peers on BSVI portfolio, inventory levels and discounts

Auto sector is in transition phase, no threat of job losses: Govt in RS

Union Heavy Industries Minister Prakash Javadekar said no closure of any automobile or ancillary manufacturing units has been reported in the past three years

M&A in auto sector up 73% to $449 million in CY19 despite slowdown

Growth led by $275 million Mahindra-Ford deal, domestic volumes cross $100-million mark first time since 2017 to touch $141 million

Fintech firms hire 700,000 people who lost jobs in slowdown-hit sectors

The tenure of such jobs is about 6-8 months, with Amazon and Flipkart creating the primary demand for labour

TVS Motor, Bajaj Auto settle decade-old dispute over patent for spark plugs

Both TVS Motor and Bajaj Auto have mutually agreed to withdraw pending proceedings and release each other from all liabilities, claims, demands and actions

Only minor Diwali revival for auto sector, expect no fireworks, say experts

At present, the auto industry is facing a severe demand slowdown on account of high GST rates, farm distress, stagnant wages and liquidity constraints

Dealers threaten legal action against UM Motor's JV company in India

According to Fada, automobile dealers have incurred a total estimated capital loss of around Rs 150 crore, and around 2,500 jobs have also been affected

Automobile slowdown: Number of vehicles crossing toll gates slowing

While traffic and toll collection will take a hit in FY20, toll rates may not rise much in FY21 owing to a lower wholesale price index (WPI)

Govt considers making technical textiles must for ministries to boost jobs

Technical textiles are functional fabrics used in multiple industries such as automobile, construction, and agriculture

Podcast: From real estate to automobile, clear signs of economic slowdown

Experts believe the corporation tax rate cut announced by the govt recently may not be able to perk up corporate earnings in Q2. Listen to this podcast for the slowdown signs visible across sectors

Toyota Kirloskar sales down 17% in Sept at 10,911 units; exports up 25%

Exports in September were at 708 units as against 566 units in the year-ago month

Why the festival season may not bring much cheer despite tax cuts by govt

Car sales in August fell the most on record and Maruti Suzuki India Ltd

With half their fleet idle, transporters feel the pinch of auto slowdown

Some fleet owners are even considering selling some trucks to tide over the slowdown

While jury's out on millennials, used cars partly to blame for auto slump

New car sales suffered their biggest monthly decline on record in August, as deliveries fell 41% from a year earlier to 115,957 units

Top 10 biz headlines: Ruias win back Mahan Power, auto cos' GST woes & more

From the Ruias being set to wrest back control of the Mahan Power project to the govt's warning that GST relief for auto cos may raise burden on other goods, here are Thursday's top business headlines

Auto crisis: Wholesale numbers may take a back seat amid rising inventory

So far, auto firms have been reporting monthly despatches on the first of the following month

Top 10 biz headlines: Auto sales down 23.5%, direct tax code delay & more

From PV sales declining for the 10th straight month to chances that the govt is unlikely to replace the Income Tax Act with the direct tax code, here are the top business headlines for Tuesday

Auto slowdown: Ashok Leyland declares non-working days across units in Sept

Ashok Leyland has agreed to give 5.42% of the profit of 2018-19 as bonus to employees

Passenger vehicle sales dip 31.6% in Aug; down ten months in a row: SIAM

In the PV segment, Maruti Suzuki India posted a 36.14% decline in its August sales at 93,173 units