Auto Sector Slowdown
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Auto Industry Could Take 4 Years To Get Back On The Growth Trajectory; New Investments Unviable: SIAM
SIAM has projected a de-growth outlook of anywhere between 25 per cent - 45 per cent for FY2021 and cannot see the situation recovering anytime soon. This will also take a toll on further investments in new technologies like advanced hybrid vehicles, electric vehicles and EV infrastructure among others.
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Coronavirus Lockdown: FADA Seeks Government's Support For Auto Dealers
Auto dealers in India employ around 40 lakh people with each dealership employing about 80 - 150 people on an average. Job losses owing to the slowdown has worst affected auto dealers and component sector and that's the biggest fear post the lockdown period.
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Coronavirus Lockdown: Audi India Reviews Launch Plans Of Its Future Models
Audi has had a sluggish launch period post the dieselgate scandal and after of couple of years it came strong with a new product offensive in India with major focus being on petrol model line-up followed by all-electric cars.
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Markets Trim Gains After Sensex Jumps Over 2,550 Points: 10 Things To Know
Domestic stock markets began the three-day trading week on a positive note amid gains in global peers on signs of a slowdown in coronavirus-related deaths. The S&P BSE Sensex index rose as much as 2,566.7 points to touch 30,157.65 at the strongest level recorded during the session, and the broader NSE Nifty benchmark climbed to as high as 8,819.40,...
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9 Highly-Awaited Car Launches In India Postponed Because Of Coronavirus Pandemic
It's not the best of times for the globe as the Coronavirus pandemic has put the world on lockdown and we need to follow it seriously to stop further contamination. The auto industry is also witnessing major losses as a result of all auto and components manufacturing facilities shut for the next three weeks. Recovering from an economic slowdown ove...
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Supreme Court Refuses To Hear Plea To Extend Sale Of BS4 Vehicles
The Supreme Court has refused to hear the plea of the Federation of Automobile Dealers Associations (FADA) for extension of the deadline to sell BS4 vehicles beyond March 31. The association had requested the Apex court for permission of sale and registration of BS4 vehicles till May 31, 2020, due to a massive drop in retail numbers resulted by the...
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Two-Wheeler Sales January 2020: Suzuki Volumes Decline For The First Time In 41 Months
Suzuki Motorcycle India has reported a sale of 65,402 units (domestic + exports) in January 2020, registering degrowth of 5.4 per cent, as compared to 69,162 units sold during the same month last year. The two-wheeler manufacturer had been able to buck the trend for the longest time and was one of the few two-wheeler makers to post a hike in sales ...
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Slowdown Blues: Now Bosch Trims Workforce To Tackle Lingering Auto Sales
Bosch plans to cut "a couple of thousand" jobs in India over the next four years, its India managing director Soumitra Bhattacharya told news agency Bloomberg. The job cuts by Bosch - the Indian unit of the world's largest auto-parts supplier Robert Bosch GmbH - will add to thousands of job cuts in India's auto industry, which is struggling against...
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Auto Sales In India In 2019 Witness Biggest Drop In Two Decades
The Indian auto sector had a forgettable year - 2019 - as the industry soldiered on despite one of the worst periods. Sales for passenger vehicles including cars, SUVs and even two-wheelers witnessed a major decline last year, dropping at its lowest in two decades. Apart from the economic slump in the Indian corporate sector, financing issues, elec...
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India Cannot Achieve $5 Trillion Economy With Automotive Industry Slowdown: Pawan Goenka
The Indian auto sector continues to soldier amidst the trying times and sales are far from seeing a steady revival for automakers. The auto industry is also one of the largest contributors to the country's manufacturing GDP and the slowdown is certainly hurting India's economic growth too. Speaking on the same, Pawan Goenka - Managing Director, Mah...
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Domestic Car Sales Fall 11% In November, Production Down 8%: Industry Body SIAM
Total passenger car sales in the domestic market fell nearly 11 per cent last month, data from industry body SIAM or Society of Indian Automobile Manufacturers showed on Tuesday. Sales of passenger vehicles - including passenger cars, utility vehicles and vans - declined 0.84 per cent to 263,773 units in November, the data showed. Out of these, a t...
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Auto Slowdown Continues, Sales Plunge By 12% In November
Two-wheeler sales declined by 14.27 per cent to 14.1 lakh units compared to 16.45 lakh units in the year-ago month.
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MPV Segment Posts 4% Sales Growth Between April-September 2019 Despite Market Slowdown In India: Survey
The Indian auto sector has been going through a lull phase since the beginning of the year and it wasn't until the festive season last month that carmakers saw the stocks moving once again. Almost every auto segment including hatchbacks, sedans and in-vogue SUVs failed to perform, even though we did see some growth spurt amidst new launches. Howeve...
-
Global Auto Deals Dry Up In Third Quarter Amid Slowing Economy - Report
M&A activity in the global automotive sector plunged in the third quarter, PricewaterhouseCoopers LLP said in a report on Thursday, citing fewer big-ticket deals. Mergers and acquisitions around the world have sunk to three-year lows, accelerated by trade tensions and growing economic uncertainty.
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India's Retail Inflation Surges In September, But Rate Cut Hopes Still High
India's retail inflation rose close to the central bank's medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December.
-
Auto Industry Could Take 4 Years To Get Back On The Growth Trajectory; New Investments Unviable: SIAM
SIAM has projected a de-growth outlook of anywhere between 25 per cent - 45 per cent for FY2021 and cannot see the situation recovering anytime soon. This will also take a toll on further investments in new technologies like advanced hybrid vehicles, electric vehicles and EV infrastructure among others.
-
Coronavirus Lockdown: FADA Seeks Government's Support For Auto Dealers
Auto dealers in India employ around 40 lakh people with each dealership employing about 80 - 150 people on an average. Job losses owing to the slowdown has worst affected auto dealers and component sector and that's the biggest fear post the lockdown period.
-
Coronavirus Lockdown: Audi India Reviews Launch Plans Of Its Future Models
Audi has had a sluggish launch period post the dieselgate scandal and after of couple of years it came strong with a new product offensive in India with major focus being on petrol model line-up followed by all-electric cars.
-
Markets Trim Gains After Sensex Jumps Over 2,550 Points: 10 Things To Know
Domestic stock markets began the three-day trading week on a positive note amid gains in global peers on signs of a slowdown in coronavirus-related deaths. The S&P BSE Sensex index rose as much as 2,566.7 points to touch 30,157.65 at the strongest level recorded during the session, and the broader NSE Nifty benchmark climbed to as high as 8,819.40,...
-
9 Highly-Awaited Car Launches In India Postponed Because Of Coronavirus Pandemic
It's not the best of times for the globe as the Coronavirus pandemic has put the world on lockdown and we need to follow it seriously to stop further contamination. The auto industry is also witnessing major losses as a result of all auto and components manufacturing facilities shut for the next three weeks. Recovering from an economic slowdown ove...
-
Supreme Court Refuses To Hear Plea To Extend Sale Of BS4 Vehicles
The Supreme Court has refused to hear the plea of the Federation of Automobile Dealers Associations (FADA) for extension of the deadline to sell BS4 vehicles beyond March 31. The association had requested the Apex court for permission of sale and registration of BS4 vehicles till May 31, 2020, due to a massive drop in retail numbers resulted by the...
-
Two-Wheeler Sales January 2020: Suzuki Volumes Decline For The First Time In 41 Months
Suzuki Motorcycle India has reported a sale of 65,402 units (domestic + exports) in January 2020, registering degrowth of 5.4 per cent, as compared to 69,162 units sold during the same month last year. The two-wheeler manufacturer had been able to buck the trend for the longest time and was one of the few two-wheeler makers to post a hike in sales ...
-
Slowdown Blues: Now Bosch Trims Workforce To Tackle Lingering Auto Sales
Bosch plans to cut "a couple of thousand" jobs in India over the next four years, its India managing director Soumitra Bhattacharya told news agency Bloomberg. The job cuts by Bosch - the Indian unit of the world's largest auto-parts supplier Robert Bosch GmbH - will add to thousands of job cuts in India's auto industry, which is struggling against...
-
Auto Sales In India In 2019 Witness Biggest Drop In Two Decades
The Indian auto sector had a forgettable year - 2019 - as the industry soldiered on despite one of the worst periods. Sales for passenger vehicles including cars, SUVs and even two-wheelers witnessed a major decline last year, dropping at its lowest in two decades. Apart from the economic slump in the Indian corporate sector, financing issues, elec...
-
India Cannot Achieve $5 Trillion Economy With Automotive Industry Slowdown: Pawan Goenka
The Indian auto sector continues to soldier amidst the trying times and sales are far from seeing a steady revival for automakers. The auto industry is also one of the largest contributors to the country's manufacturing GDP and the slowdown is certainly hurting India's economic growth too. Speaking on the same, Pawan Goenka - Managing Director, Mah...
-
Domestic Car Sales Fall 11% In November, Production Down 8%: Industry Body SIAM
Total passenger car sales in the domestic market fell nearly 11 per cent last month, data from industry body SIAM or Society of Indian Automobile Manufacturers showed on Tuesday. Sales of passenger vehicles - including passenger cars, utility vehicles and vans - declined 0.84 per cent to 263,773 units in November, the data showed. Out of these, a t...
-
Auto Slowdown Continues, Sales Plunge By 12% In November
Two-wheeler sales declined by 14.27 per cent to 14.1 lakh units compared to 16.45 lakh units in the year-ago month.
-
MPV Segment Posts 4% Sales Growth Between April-September 2019 Despite Market Slowdown In India: Survey
The Indian auto sector has been going through a lull phase since the beginning of the year and it wasn't until the festive season last month that carmakers saw the stocks moving once again. Almost every auto segment including hatchbacks, sedans and in-vogue SUVs failed to perform, even though we did see some growth spurt amidst new launches. Howeve...
-
Global Auto Deals Dry Up In Third Quarter Amid Slowing Economy - Report
M&A activity in the global automotive sector plunged in the third quarter, PricewaterhouseCoopers LLP said in a report on Thursday, citing fewer big-ticket deals. Mergers and acquisitions around the world have sunk to three-year lows, accelerated by trade tensions and growing economic uncertainty.
-
India's Retail Inflation Surges In September, But Rate Cut Hopes Still High
India's retail inflation rose close to the central bank's medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December.
