Automobile Industry News

Within two-wheelers, domestic retailers/wholesalers have recovered with about 16 percent/over 20 percent yoy growth, partly supported by the low base, reports IANS.

Although the overall record was positive, registration of commercial vehicles registered a de-growth of 23 percent. Registration of personal vehicles rose by 11 percent in October, compared to a year-ago period and that of two-wheelers and three-wheelers were up 5 percent and 4 percent.

The ministry has also cleared the electric vehicle policy for 100 per cent manufacturing of electric vehicles.

Gadkari said the project will be on a pilot basis initially, and could be replicated as there was immense potential for running vehicles on alternative fuel like methanol, ethanol and Bio CNG.  

Union Heavy Industries Minister Anant Geete on Monday said he will take up the issue of lowering the 43 percent tax rate on hybrid vehicles under GST with Finance Minister Arun Jaitley.

Honda Cars on Friday said India is not yet ready to have electric cars in large numbers due to the lack of necessary infrastructure and affordability factor.

Country's largest carmaker Maruti Suzuki on Friday said bookings declined by 20 percent in November, compared to the same period last year, as cash crunch following scrapping of high-value notes led to fall in demand.

The Indian automobile sector aims to contribute over 12 percent to the gross domestic product of the country, and create nearly 6.5 crore additional jobs by 2026 over the next decade, said Kenichi Ayukawa, Managing Director and Chief Executive Officer of Maruti Suzuki India, on Wednesday.

The auto industry today discussed with Revenue Secretary Hasmukh Adhia, the rate of cess and definition of luxury cars under the GST regime, which is likely to kick in from April next.

Hiring in automobile industry is expected to remain below 5 percent in the financial year 2017 when compared to 2016

 The ban imposed on diesel cars and SUVs of engine capacity 2,000cc and above in Delhi-NCR by the Supreme Court has impacted about 5,000 jobs in the automobile sector, according to the industry body Siam.

 No one will invest in India and the country's image as an investment destination will be completely thrown out of gear if an environment cess to the tune of 30 percent were to be imposed on diesel cars and SUVs, according to auto industry body SIAM.

The Supreme Court will today hear the plea of automobile industry over the ban on diesel cars with engine capacity of 2000 CC and above in National Capital Region.

"BS VI fuel norms announced in the draft notification have been highly diluted as compared to Euro VI norms in Europe and take India back to BS II fuel level of specifications which were prevalent in 2000," Society of Indian Automobile Manufacturers (SIAM) Director General Vishnu Mathur.

RBI keeping key interest rate unchanged will clear uncertainty and help car buyers firm up purchase decisions to cash in on year-end promotional offers, according to automobile industry players.

 Growing application of aluminium in automobile industry has not only increased fuel efficiency but also reduced the vehicular pollution, said Nalco CMD T K Chand.

The automaker`s consolidated operating profit climbed 9.1 percent to a record 756.00 billion yen and sales rose 9.3 percent to 6.99 trillion yen, Kyodo news agency reported.

M&M's Jeeto is expected to take on Tata Ace Zip which has a payload capacity of 600 kgs and is priced around Rs 2.55 lakh.

HCIL, which aims to touch 3 lakh unit sales milestone per annum by the end of 2016-17, currently sells compact car Brio, compact sedan Amaze, mid-sized sedan City, multipurpose vehicle Mobilio and premium sports utility vehicle CR-V.

"Yes, the deficient monsoon prediction is a cause of worry. Sales could be affected in some parts, specially in the rural market," Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa told reporters here.