Automobile Sector Growth
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EV Market in India to Cross 1 Crore Annual Sales Mark, Create 5 Crore Jobs by 2030: Economic Survey
India's EV market is expected to grow to one crore units per annum by 2030 while creating 5 crore jobs, data from the Economic Survey 2022-23 shows. The total EV sales in India stood at around 10 lakh units in 2022, according to industry estimates.
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"Can't Grow An Automobile Industry With 50% Taxation": Maruti Chairman RC Bhargava
The auto sector continues to be heavily taxed, which in a way has affected the growth of the industry, according to Maruti Suzuki India Chairman RC Bhargava, speaking at an event in New Delhi.
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Indian Auto Sector Sees Overall Growth Of 4% In July 2021; PV Sales Grew 45% YoY
The Society Of Indian Automobile Manufacturers, or SIAM India, has released the monthly sales data for July 2021. Last month, the auto sector witnessed an overall year-on-year (YoY) growth of 4 per cent, selling 15,36,269 vehicles, as against 14,76,861 units sold in July 2020.
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Demand In Auto Sector To Recover Despite COVID-19 Second Wave: Report
Buyers are more optimistic due to improved visibility on a longer-term economic recovery and reversal of pay cuts as corporate spending normalises from 2020.
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Coronavirus Pandemic Dents Auto Exports; Domestic Sales Get Back On The Growth Trajectory
While domestic sales of passenger vehicles have recorded a growth of 17.02 per cent in Q2 of FY2021 at 7,26,232 units, according to the data shared by the Society of Indian Automobile Manufacturers (SIAM), auto exports in the same period went down by 41.96 per cent at 1,11,555 units.
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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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India's Automakers Warn Of Up To 45% Sales Drop As Economy Slumps Amidst Pandemic
India's automakers have warned that total automobile sales could fall as much as 45% in the current fiscal year in a worst-case scenario as economic growth slumps due to the COVID-19 pandemic, and they are seeking government help through the crisis.
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Sensex Falls Over 200 Points, Nifty Below 12,200 After IMF Trims Growth Forecasts: 10 Things To Know
Domestic stock markets opened lower on Tuesday tracking weakness in global peers, a day after the International Monetary Fund (IMF) cut its growth estimate for India to 4.8 per cent for the current financial year. The S&P BSE Sensex index fell as much as 227.28 points to hit 41,301.63 in early trade and the broader NSE Nifty benchmark declined to a...
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Passenger Vehicle Sales Fall Nearly 24% In September: Industry Body SIAM
Passenger vehicle sales in the country fell 23.69 per cent last month, data from industry body SIAM or the Society of Indian Automobile Manufacturers showed on Friday. That marked the longest ever streak of falling sales for the country's automobile industry. The data comes at a time the country's auto sector is struggling against weak demand leadi...
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Indian Auto Parts Makers Warn Of 1 Million Job Cuts If Slowdown Continues
India's auto industry is in the middle of one of its worst slumps. Passenger vehicle sales fell 18.4 per cent in the first quarter, and monthly passenger vehicle sales in June fell by the biggest margin in 18 years
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Sensex Plunges Nearly 400 Points From Day's High, Nifty Gives Up 11,300: 10 Things To Know
Domestic stock markets suffered sharp losses on Wednesday despite gains in Asian peers, a day after the International Monetary Fund cut its growth forecasts for India. The S&P BSE Sensex benchmark added 120.1 points to touch 38,102.84 on the upside in morning deals, and then slumped as much as 394.43 points from that level to touch 37,708.41 at the...
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Sensex Falls Over 300 Points From Day's High: 10 Things To Know
Domestic stock markets gave up early gains after opening on a mixed note on Wednesday, a day after the International Monetary Fund cut its growth forecast for India citing a weaker-than-expected outlook for domestic demand. The S&P BSE Sensex benchmark first added 120.1 points to touch 38,102.84 on the upside, and then slumped as much as 337.17 poi...
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Tax For Wealthy, Focus On Poor: Nirmala Sitharaman's Budget In 10 Points
Finance Minister Nirmala Sitharaman raised taxes for the super-rich and hiked duties on fuel, gold and automobile parts in her first Budget on Friday, in measures aimed at tackling a five-year low in growth while tightening fiscal consolidation. To restart investment, Prime Minister Narendra Modi's government also eased FDI in the insurance and avi...
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Growth Rate Of The Automobile Sector Keeps Changing Every Month: Nitin Gadkari
Only two of the 16 companies on BSE Auto Index have held their heads above water this year. Tata Motors which rebounded last month after declining to its lowest level since 2011 in February.
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Government To Give Incentives To Boost Electric Vehicles
Today, automobile along with automobile component industry is one of the key drivers of India's economic growth, contributing 7.2 per cent to the GDP.
-
EV Market in India to Cross 1 Crore Annual Sales Mark, Create 5 Crore Jobs by 2030: Economic Survey
India's EV market is expected to grow to one crore units per annum by 2030 while creating 5 crore jobs, data from the Economic Survey 2022-23 shows. The total EV sales in India stood at around 10 lakh units in 2022, according to industry estimates.
-
"Can't Grow An Automobile Industry With 50% Taxation": Maruti Chairman RC Bhargava
The auto sector continues to be heavily taxed, which in a way has affected the growth of the industry, according to Maruti Suzuki India Chairman RC Bhargava, speaking at an event in New Delhi.
-
Indian Auto Sector Sees Overall Growth Of 4% In July 2021; PV Sales Grew 45% YoY
The Society Of Indian Automobile Manufacturers, or SIAM India, has released the monthly sales data for July 2021. Last month, the auto sector witnessed an overall year-on-year (YoY) growth of 4 per cent, selling 15,36,269 vehicles, as against 14,76,861 units sold in July 2020.
-
Demand In Auto Sector To Recover Despite COVID-19 Second Wave: Report
Buyers are more optimistic due to improved visibility on a longer-term economic recovery and reversal of pay cuts as corporate spending normalises from 2020.
-
Coronavirus Pandemic Dents Auto Exports; Domestic Sales Get Back On The Growth Trajectory
While domestic sales of passenger vehicles have recorded a growth of 17.02 per cent in Q2 of FY2021 at 7,26,232 units, according to the data shared by the Society of Indian Automobile Manufacturers (SIAM), auto exports in the same period went down by 41.96 per cent at 1,11,555 units.
-
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.
-
India's Automakers Warn Of Up To 45% Sales Drop As Economy Slumps Amidst Pandemic
India's automakers have warned that total automobile sales could fall as much as 45% in the current fiscal year in a worst-case scenario as economic growth slumps due to the COVID-19 pandemic, and they are seeking government help through the crisis.
-
Sensex Falls Over 200 Points, Nifty Below 12,200 After IMF Trims Growth Forecasts: 10 Things To Know
Domestic stock markets opened lower on Tuesday tracking weakness in global peers, a day after the International Monetary Fund (IMF) cut its growth estimate for India to 4.8 per cent for the current financial year. The S&P BSE Sensex index fell as much as 227.28 points to hit 41,301.63 in early trade and the broader NSE Nifty benchmark declined to a...
-
Passenger Vehicle Sales Fall Nearly 24% In September: Industry Body SIAM
Passenger vehicle sales in the country fell 23.69 per cent last month, data from industry body SIAM or the Society of Indian Automobile Manufacturers showed on Friday. That marked the longest ever streak of falling sales for the country's automobile industry. The data comes at a time the country's auto sector is struggling against weak demand leadi...
-
Indian Auto Parts Makers Warn Of 1 Million Job Cuts If Slowdown Continues
India's auto industry is in the middle of one of its worst slumps. Passenger vehicle sales fell 18.4 per cent in the first quarter, and monthly passenger vehicle sales in June fell by the biggest margin in 18 years
-
Sensex Plunges Nearly 400 Points From Day's High, Nifty Gives Up 11,300: 10 Things To Know
Domestic stock markets suffered sharp losses on Wednesday despite gains in Asian peers, a day after the International Monetary Fund cut its growth forecasts for India. The S&P BSE Sensex benchmark added 120.1 points to touch 38,102.84 on the upside in morning deals, and then slumped as much as 394.43 points from that level to touch 37,708.41 at the...
-
Sensex Falls Over 300 Points From Day's High: 10 Things To Know
Domestic stock markets gave up early gains after opening on a mixed note on Wednesday, a day after the International Monetary Fund cut its growth forecast for India citing a weaker-than-expected outlook for domestic demand. The S&P BSE Sensex benchmark first added 120.1 points to touch 38,102.84 on the upside, and then slumped as much as 337.17 poi...
-
Tax For Wealthy, Focus On Poor: Nirmala Sitharaman's Budget In 10 Points
Finance Minister Nirmala Sitharaman raised taxes for the super-rich and hiked duties on fuel, gold and automobile parts in her first Budget on Friday, in measures aimed at tackling a five-year low in growth while tightening fiscal consolidation. To restart investment, Prime Minister Narendra Modi's government also eased FDI in the insurance and avi...
-
Growth Rate Of The Automobile Sector Keeps Changing Every Month: Nitin Gadkari
Only two of the 16 companies on BSE Auto Index have held their heads above water this year. Tata Motors which rebounded last month after declining to its lowest level since 2011 in February.
-
Government To Give Incentives To Boost Electric Vehicles
Today, automobile along with automobile component industry is one of the key drivers of India's economic growth, contributing 7.2 per cent to the GDP.
