Page 13 - Automotive Industry
War on Covid-19: Major auto, electronic units in Tamil Nadu come to a halt
People-first approach marks decision with some firms saying there will be no pay or job cuts
 "War on Covid-19: Major auto, electronic units in Tamil Nadu come to a halt")
Auto industry has potential to grow at CAGR of 5% through 2026: Report
The SUV segment currently accounts for 26 per cent of total car sales in India
 "Auto industry has potential to grow at CAGR of 5% through 2026: Report")
Lucas-TVS to exit India Japan Lighting, sell stake to JV partner Koito
IJL has manufacturing operations in Chennai and Haryana's Bawal and is setting up a third plant at an investment of Rs 500 crore in Gujarat
 "Lucas-TVS to exit India Japan Lighting, sell stake to JV partner Koito")
Auto slowdown: Component makers, vehicle manufacturers differ on recovery
Passenger vehicle sales fell around 20 per cent year-on-year in the April to October period, first seven months of this financial year
 "Auto slowdown: Component makers, vehicle manufacturers differ on recovery")
Icra downgrades its outlook on automotive dealership sector to negative
The muted industry scenario has stressed credit profile of dealers, especially those of new entrants and, has forced some dealerships to shut down as well, he added.
 "Icra downgrades its outlook on automotive dealership sector to negative")
Auto crisis: FADA urges GST Council to take definitive decision on rate
Hero MotoCorp urged the Centre to consider a phase-wise reduction in GST on automobiles, cutting rates for two-wheelers in the first stage, and deferring tax cut on four-wheelers to a later stage
 "Auto crisis: FADA urges GST Council to take definitive decision on rate")
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
 "With half their fleet idle, transporters feel the pinch of auto slowdown")
Auto industry stares at tough year due to transition to BS-VI norms: SIAM
'Auto industry, as we all have seen in the past eight months, has witnessed continuous de-growth and August being the worst at 30 per cent,' said SIAM's Rajan Wadhera
 "Auto industry stares at tough year due to transition to BS-VI norms: SIAM")
Honda Cars India domestic sales decline 51% at 8,291 units in August
"The auto sector continues to witness high de-growth due to poor consumer sentiment," HCIL Senior Vice President and Director, Sales and Marketing Rajesh Goel said
 "Honda Cars India domestic sales decline 51% at 8,291 units in August")
Auto sales in August to be 'far worse' than July, analysts expect 30% fall
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
 "Auto sales in August to be 'far worse' than July, analysts expect 30% fall")
Chhattisgarh auto sales surge, backed by rural growth amid slowdown
A slump in sales across the country has plunged the sector into a severe crisis
 "Chhattisgarh auto sales surge, backed by rural growth amid slowdown")
Maruti Suzuki seeks better lending terms for dealers amid liquidity crunch
As sales falter, banks tighten lending norms for auto dealers
 "Maruti Suzuki seeks better lending terms for dealers amid liquidity crunch")
Auto parts industry fears 1 million jobs could be at stake due to slowdown
The Automotive Component Manufacturers Association of India (ACMA), which represents the auto component industry that alone employs around 5 million people
 "Auto parts industry fears 1 million jobs could be at stake due to slowdown")
28% automotive firms started new business based on digital tech: Report
Only 19 per cent believe their digital platforms allow them to reach customers who would not be reached through traditional approaches
 "28% automotive firms started new business based on digital tech: Report")
