Auto Sector Crisis
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Worst Downturn Ever For Indian Auto Industry, 350,000 Lay-Offs: Report
Within this previously unreported figure, car and motorcycle makers have laid off 15,000 and component manufacturers 1,00,000, with the remaining job losses at dealers, many of which have closed, the industry source said.
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Auto Executives Seek Tax Cuts, Easier Finance Access To Revive Sales: Report
The auto executives urged the government to cut taxes on cars and auto components to 18 per cent from 28 per cent.
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Jamna Auto Braces For Plant Shutdowns Amid Industry-Wide Crisis
New Delhi-based Jamna Auto's customers include General Motors Co, Toyota Motor Corp and Tata Motors.
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Auto Component Makers Stare At 10 Lakh Job Cuts
The automotive component industry contributes 2.3 per cent to India's gross domestic product (GDP), 25 per cent to its manufacturing GDP and provides employment to 50 lakh people.
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Auto Industry Bets Big On Scrappage Policy To Revive Demand
Automobile industry's representatives have sought an 'End of Life' policy from the central government as a measure to arrest the falling sales.
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Auto Component Makers Declare Non-Working Days Amid Slowdown
Last week, an estimated 3.5 lakh people were estimated to have lost their jobs due to the slowdown in the auto sector.
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Overall Auto Retail Sales Down 6% In July: Industry Body
The data also showed that retail sales of passenger vehicles were lower by 11 per cent on a year-on-year basis.
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Major Events That Affected Auto Sector In 2021
Here are the few significant events that the Indian automotive sector witnessed this year.
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India's CV Industry Is Recovering From The Pandemic, But Real Growth Is Still Far Away
The commercial vehicle space was one of the more badly affected segments due to the COVID-19 pandemic, however, with the gradual reopening of the economies the CV industry too started to recover. However experts believe real growth is still a bit far away.
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Chip Shortage In Focus As Japan Automakers Ready To Report Profit Drop
While Japan's biggest automakers report what analysts expect to be depressed earnings this week, investors looking for trading cues will be tuned into any assessment of the future impact of a global chip shortage that has forced a shake-up in production.
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Bundesbank Expects Chip Bottlenecks In German Industry To Worsen In Q2: Report
The chip supply bottlenecks in German industry will likely worsen in the second quarter and lead to an overall weaker recovery of Europe's largest economy this year, the Bundesbank's chief economist told Reuters on Friday.
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Chip Shortage Casts Shadow On China's Auto Industry Recovery
Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China, after hoping the world's biggest car market could spearhead global recovery in the sector.
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Millennials Prefer Ola, Uber To New Cars: Finance Minister On Auto Crisis
Nirmala Sitharaman said millennials' preference for Uber and Ola cabs over committing money to EMIs for new cars had contributed to the slowdown of the auto sector, which has also seen a 70 per cent drop in sales for truck maker Ashok Leyland
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Economy Falling Into "Deep Abyss Of Recession", Claims Priyanka Gandhi
Hitting out at the Modi government, Congress leader Priyanka Gandhi Vadra said today that the economy is falling into a "deep abyss" of recession and asked when will the current dispensation "open its eyes".
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Auto Industry Warns of More Job Losses If Slowdown Continues
Seeking urgent stimulus from the government in the form of GST reduction, the auto industry on Thursday cautioned that if the current slowdown in the sector continued, there would be further job losses that could have societal and social consequences.
-
Worst Downturn Ever For Indian Auto Industry, 350,000 Lay-Offs: Report
Within this previously unreported figure, car and motorcycle makers have laid off 15,000 and component manufacturers 1,00,000, with the remaining job losses at dealers, many of which have closed, the industry source said.
-
Auto Executives Seek Tax Cuts, Easier Finance Access To Revive Sales: Report
The auto executives urged the government to cut taxes on cars and auto components to 18 per cent from 28 per cent.
-
Jamna Auto Braces For Plant Shutdowns Amid Industry-Wide Crisis
New Delhi-based Jamna Auto's customers include General Motors Co, Toyota Motor Corp and Tata Motors.
-
Auto Component Makers Stare At 10 Lakh Job Cuts
The automotive component industry contributes 2.3 per cent to India's gross domestic product (GDP), 25 per cent to its manufacturing GDP and provides employment to 50 lakh people.
-
Auto Industry Bets Big On Scrappage Policy To Revive Demand
Automobile industry's representatives have sought an 'End of Life' policy from the central government as a measure to arrest the falling sales.
-
Auto Component Makers Declare Non-Working Days Amid Slowdown
Last week, an estimated 3.5 lakh people were estimated to have lost their jobs due to the slowdown in the auto sector.
-
Overall Auto Retail Sales Down 6% In July: Industry Body
The data also showed that retail sales of passenger vehicles were lower by 11 per cent on a year-on-year basis.
-
Major Events That Affected Auto Sector In 2021
Here are the few significant events that the Indian automotive sector witnessed this year.
-
India's CV Industry Is Recovering From The Pandemic, But Real Growth Is Still Far Away
The commercial vehicle space was one of the more badly affected segments due to the COVID-19 pandemic, however, with the gradual reopening of the economies the CV industry too started to recover. However experts believe real growth is still a bit far away.
-
Chip Shortage In Focus As Japan Automakers Ready To Report Profit Drop
While Japan's biggest automakers report what analysts expect to be depressed earnings this week, investors looking for trading cues will be tuned into any assessment of the future impact of a global chip shortage that has forced a shake-up in production.
-
Bundesbank Expects Chip Bottlenecks In German Industry To Worsen In Q2: Report
The chip supply bottlenecks in German industry will likely worsen in the second quarter and lead to an overall weaker recovery of Europe's largest economy this year, the Bundesbank's chief economist told Reuters on Friday.
-
Chip Shortage Casts Shadow On China's Auto Industry Recovery
Auto industry executives are rattled by a global shortage of semiconductors which is hitting production in China, after hoping the world's biggest car market could spearhead global recovery in the sector.
-
Millennials Prefer Ola, Uber To New Cars: Finance Minister On Auto Crisis
Nirmala Sitharaman said millennials' preference for Uber and Ola cabs over committing money to EMIs for new cars had contributed to the slowdown of the auto sector, which has also seen a 70 per cent drop in sales for truck maker Ashok Leyland
-
Economy Falling Into "Deep Abyss Of Recession", Claims Priyanka Gandhi
Hitting out at the Modi government, Congress leader Priyanka Gandhi Vadra said today that the economy is falling into a "deep abyss" of recession and asked when will the current dispensation "open its eyes".
-
Auto Industry Warns of More Job Losses If Slowdown Continues
Seeking urgent stimulus from the government in the form of GST reduction, the auto industry on Thursday cautioned that if the current slowdown in the sector continued, there would be further job losses that could have societal and social consequences.
