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The short answer: most car makers believe that the aspirational values that come with buying an automobile in India are best addressed by foreign-sounding names.
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The planned move, though being described as essential by manufacturers, is expected to pose a fresh challenge to the automobile sector which is still recuperating from the COVID-19 jolt.
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Challenges relating to tight liquidity and low buying sentiment continue to weigh on sales growth.
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It's the first day of the Geneva Motor Show and new launches from global car-makers have been coming in thick and fast. On this special episode watch snippets of the interviews with various heads of auto companies.
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The government had stipulated that auto firms cannot produce BS-III vehicles after April 1. But there was confusion in the industry whether this applied to the sale of BS-III vehicles as well.
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Market in yesterday‘s trade rallied owing to the gains from healthcare stocks. Swati Kulkarni of UTI MF said that pharma companies are going through the remediation process and after they US FDA approvals, the pharma stocks will perform well.
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US President-elect Donald Trump‘s stance on promoting local manufacturing will likely hit Indian-owned foreign auto companies such as Jaguar Land Rover and SsangYong Motor Company.
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IOC's Mathura refinery has despatched BS VI high-speed diesel (HSD) to two auto companies to test viability and compatibility as part of its efforts to provide cleaner fuel for an eco-friendly environment.
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In view of the government‘s demonetisation drive, auto companies are being affected and the best way to make most out of the auto stocks is to stick with auto companies with competitive advantage, says Deepak Jain, Auto Analyst at Idfc Securities.
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Government plans to make it mandatory for auto companies to provide rear view sensors or backup cameras, speed warning systems, airbags and child pedestrian system in all new vehicles from October 2017.
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Raamdeo Agarwal, Motilal Oswal, says 1 percent infra cess on cars will not be a big dampener for auto companies.
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The Indian government has decided to head straight for Bharat Stage (BS)-VI emission norms for automobiles from the current BS-III and BS-IV standards, said Nitin Gadkari, Minister of Road Transport and Highways of India in an interview to CNBC TV-18 today.
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Though the provision in the newly enacted Companies Act will only kick-in from April 1, 2014, it means that companies from M&M, Maruti Suzuki to Hero MotoCorp would have to significantly ramp up their CSR investments in the coming years.
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North Block has decided to infuse more than the budgeted Rs 14,000 crore into PSBs to help stimulate demand, reports CNBC-TV18's Aakansha Sethi.
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Amit Kasat, auto analyst, Standard Chartered says last two months the passenger car segment has outperformed the utility vehicle segment.
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Sandip Sabharwal, Prabhudas Lilladher believes more upside in store for Indian equity markets on the back of improving macros and upsides seen in global markets. “We should see 12-15 percent upside from here till the end of this year,†he states.
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Angel Broking has come out with its report on earnings performance for 3QFY2013. According to the research firm, the Sensex EPS is expected to report a moderate 6.3% growth to Rs 1,195 in FY2013 and a more robust 16.1% growth to Rs 1,387 in FY2014.
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Continuing to stand by the order against cement companies, R Prasad, member, CCI said it is up to cement companies to challenge the CCI order at Compat. According to Prasad, the old MRTP case against cement companies is yet to be cleared.
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Auto companies are having a rough ride. On one hand, increasing petrol prices are raising demand concerns. On the other, the rupee's fall is increasing cost concerns. And now in a bid to protect margins, car majors are opting for the only way out...increasing localisation, reports CNBC-TV18's Swathi Narayanan.
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The higher excise levy to 12% proposed in the Budget was expected to impact many auto companies, including Ashok Leyland.
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Jagannadham Thunuguntla, strategist and head of research at SMC Global Securities tells CNBC-TV18 that he has a negative view on Sesa Goa and auto companies, but is bullish on Coal India.
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The managing director of Bajaj Auto Rajiv Bajaj, in an interview on CNBC-TV18, expects 4-5% of the DEPB benefits to be partly covered by the drawback scheme. "While we hope the distributors will bear 2% of the additional costs, we will pass on 2% of the cost hike to the market place," says Bajaj.
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February emerged to be a high-speed track for the auto companies. Auto companies recorded robust sales volume for the month.
