Automobile Industry
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Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival
•A parliamentary panel had examined the Demands for Grants 2020-21 of Department of Heavy Industry (DHI) and tabled its report in Parliament
Domestic passenger vehicle sales drop 6.2% in January on subdued consumer demand: Industry body
•Domestic passenger vehicle sales declined 6.2 percent in January as vehicle demand continued to be stressed by rising cost of ownership and slower GDP growth, automobile industry body SIAM said on Monday
SIAM bullish about revival of automobile industry; says sales expected to go up this year
•On the upcoming Auto Expo in February, he said new players like Chinese automobile manufacturers Great Wall and Haima will showcase their products for the first time in the exhibition.
Maruti Suzuki raises production target by 6% for this fiscal amid hopes of slight recovery in auto sector
Fp Staff •Last month, Maruti Suzuki increased its production by 4.33 percent, after having reduced output for nine straight months due to lower demand.
Anand Mahindra says auto industry needs to switch to reporting retail and not wholesale volumes
Fp Staff •Anand Mahindra's tweet was a response to the auto firm's managing director Pawan Goenka's tweets on Sunday.
IMF says global economy is in a synchronised slowdown; cuts growth forecast to 3% in 2019
•The global economy is in a "synchronised slowdown" amidst growing trade barriers and heightened geopolitical tensions, the IMF warned on Tuesday as it downgraded the 2019 growth rate to three percent, the slowest pace since the global financial crisis
Auto sector crisis: Rajiv Bajaj against GST cut for industry even as automakers look for respite from govt to tide over slowdown
Fp Staff •Bajaj Auto's Rajiv Bajaj has come out with a view that the cause of the current csisis is mainly due to overproduction by the vehicle makers and GST cut not necessary at this stage to boost demand.
Does automobile sector need more sops, weak demand makes market tough for cement firms; all this and more on Moneycontrol Pro
Moneycontrol •The Indian automobile industry is down in the dumps, the likes of which it has not seen in two decades.
'Oxygen crisis as millennials inhale more air?': With #BoycottMillennials, Twitter trolls Nirmala Sitharaman's 'mindset of millenials' remark
Fp Staff •Meanwhile, the Sitharaman's statement holding millennials responsible for the slowdown in auto sector didn't go down well with netizens. The remark triggered a whirlpool of reactions on Twitter, with Indians mocking the "millennial blaming" ideology.
Nirmala Sitharaman blames 'millennial mindset' of using Ola, Uber for automobile industry slump
•Nirmala Sitharaman on Tuesday stated that the mindsets of millennial were adversely affecting the automobile industry as they prefer to use radio taxi services instead of buying own vehicle.