The government slapped a hike of 2 percent on mid-size sedans, 5 percent on luxury cars and 7 percent on sport utility vehicles. These will be added to the 15 percent cess charged on such vehicles over and above the GST of 28 percent.
MSI chairman R C Bhargava, while delivering a keynote address at the 57th annual convention of Automotive Component Manufacturers Association (ACMA) here, said that the government's push for reducing dependence on energy exports is the primary aim for pushing electric vehicles.
The August numbers showed three Interesting trends: CVs witnessed a strong growth on the back of good monsoon and increased production of BSIV compliant vehicles; early signs of revival in three-wheeler sales following government’s decision to end permit raj and a pick-up in exports on the back of improving global climate.
Its motorcycle sales also dropped 7 per cent to 2,65,182 units as against 2,85,527 units in July last year, Bajaj Auto said in a BSE filing.
Power scooters are motorcycle substitute in the high power range. They are not only used in city traffic but are preferred for highway commutes as well because of their higher power and greater riding comfort
The Italian-American automaker said it is recalling about 770,000 sport utility vehicles because of a wiring issue that may lead to inadvertent deployment of the driver-side air bag
In case you missed it, here's a round-up of the top auto stories of the week.
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.