Cars and most of the bikes will attract the highest GST rate at 28 percent with a cess between 1-15 percent. We spoke to a few automobile dealers in Delhi and they say the registration process has not been hassle free and a higher tax rate will hurt their sales in the first quarter. CNBC-TV18's Ashpreet Sethi gave us this report.
Everything you need to know to bring you up to speed with the world of auto.
Medium and heavy commercial vehicle companies would be staring at a difficult earnings season and the impact can linger on for a couple of more months.
The company's arm Skoda Auto India had reported sales of 13,370 units last year as against 15,457 units in 2015, down 13.5 percent.
Apple is rumoured to have begun work on driverless (also called autonomous) cars two years ago but the work has been shrouded in mystery. Internally called as Project Titan there are reportedly more than 1000 Apple engineers working on the top-secret project.
At least three new models including Velar, Discovery will hit the Indian roads this year, said Rohit Suri, Managing Director, Jaguar Land Rover India.
The country’s largest car maker Maruti Suzuki grew by 7 percent while Hyundai grew by 9 per cent and Tata Motors grew by a scorching 84 percent during last month.
The company sold 19 units of SUV CR-V and 28 units of Accord Hybrid during the last month.
The company's popular models Grand i10, Elite i20 and Creta achieved a record sales of over 10,000 units each in a single month in March.
The meeting of Monetary Policy Committee scheduled on April 5 and 6 will be closely watched by the Street. Majority expect status quo this time despite encouraging retail inflation data.
A look at the performance of sectors during the current fiscal and how they would perform going forward.
Ashburton India Equity Opportunities Fund is a USD-denominated fund offering investors access to one of the largest, fastest-growing and most exciting economies in the world.
Bharat Financial Inclusion, Airtel and Zee Entertainment could be on investors' mind. Meanwhile, they also have a view on information technology and automobile sector.
Mahindra and Mahindra along with financials sector are on the radar of investors. They remain mixed on the automobile major and have raised concerns on stocks in the financial sector.
The two-wheeler industry, whichrnhas been vrooming with high double-digit growth till October,rnis likely to shrug off the note ban shocks and close thernoutgoing financial year with a 7-8 per cent growth, accordingrnto a report.
The Bharat Stage IV (BS-IV) emission norms will become applicable to all kinds of vehicles across the country from April 1 this year.
The Pune-based auto company sold 2,797 vehicles in February, a growth of 1.3 percent over 2,761 units sold in a year-ago month but the month-on-month growth was outstanding, up 29.3 percent.
The demonetisation demon has come to haunt banks as their meal ticket retail loans have taken a hit by slower growth during the three months starting November.
In an interaction with PTI, he said if all of the drop in automobile and tractor sales in November and December were to be attributed to junking of 500 and 1,000 rupee notes and not any other seasonal factor, the loss to the industry may be of the order of Rs 8,000 crore or 10 per cent of total revenue.
The brokerage firm is going big on the NBFC space particularly on the housing finance companies as the government aims to attain a "Housing for All", Prime Minister Narendra Modi‘s pet project, by 2022, believes Vaibhav Agrawal, Head-Research & ARQ, Angel Broking
Auto stocks were in focus as they started announcing February sales data. Maruti Suzuki shares gained half a percent after reporting 10.9 percent growth in February sales year-on-year while Eicher Motors too gained over half a percent as Royal Enfield sales increased 19 percent in the month gone by.
Investors wondering what to do with the Infosys stock should go by the company‘s fundamentals rather be distracted by the ongoing row, feels Gautam Duggad, Head of Research-Institutional Equities at Motilal Oswal Financial Services
"The Indian government's decision to remove a high proportion of currency notes from circulation in November 2016 has proved negative for the performance of Indian auto asset backed securities (ABS) in the short term, leading to a 1.3 percent decline in collections for November and December 2016," it said in a report.
Despite headwinds for the sector over the past few quarters, IT companies have been deepening their presence in digital and are embracing automation
Maruti, SBI, ICICI Bank, M&M and ITC were gainers while TCS, Infosys, Sun Pharma, ONGC and NTPC were losers in the Sensex.