Automobile Industry

India asks auto industry to optimise production as Iran war hurts energy supplies

The heavy industries ministry has urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise

India's auto boom at risk as Iran-Israel war chokes gas supplies, straining supply chains

Some parts suppliers to India's leading carmakers like Maruti Suzuki, Tata Motors and Mahindra are already reporting a shortage of gas to power operations

India to slash tariffs on high-end EU cars to 30% in boost for luxury carmakers

India and the European Union finalised a long-delayed deal on Tuesday that will cut tariffs on most goods and boost trade

India's passenger vehicles growth in slow lane as sales slip 9% in August

The total sales of three wheelers and two wheelers posted a growth of 8.3 percent and 7.1 percent respectively in August, SIAM said.

'Not dependent on one or two nations': Gadkari dismisses impact of Trump's tariff on auto sector

The comments come after Trump doubled India’s tariff to 50 percent for buying Russian oil

Sona Comstar enters Chinese EV market, forms joint venture with Jinnaite Machinery

The Gurugram-based firm said it will invest $12 million, while its Chinese counterpart will put $8 million into the joint venture in the first phase

Passenger vehicles, two-wheelers fuel 22% growth in India's Q1 automobile exports

Across the segments, the total exports surged to 14,57,461 units in Q1, compared to 11,92,566 units in the same period of previous financial year

Auto dealers warn of risks to supply, retail volume growth

Retail volumes fell 9.4% in June from a month ago and the average time a car stayed in a showroom rose to about 55 days

Govt mulls Rs 13,000-cr package for auto parts makers to boost local manufacturing

This new scheme will be separate from the existing production-linked incentive (PLI) scheme and will focus on the entire value supply chain

Skoda Auto Volkswagen plans to invest Rs 10,000 crore to power its India plans: Report

The second-largest automaker in the world will put more focus on the rapidly-growing luxury utility vehicle segment under its India 3.0 plans

Automakers plan to launch rare earth magnet-free electric vehicles by FY27: Report

Efforts picked up pace after China, in a retaliatory move against US, recently announced curbs on its rare earth exports

PMO views all clean fuel vehicle segments equally, says report

This comes at a time when the cracks has widened between hybrid and electric vehicles in the domestic auto industry

Trump hits auto imports with 25% tariff starting next week

The president said the tariffs would go into effect on April 2 and that the US would start to collect them a day later

Make-in-India push provided a power boost to local auto industry, says govt

The government’s local manufacturing initiative has also charged up the electric vehicles segment, the statement added

Volkswagen's $1.4 billion India tax tussle rekindles foreign investor fears

Automakers such as Maruti Suzuki, Hyundai, Honda and Toyota face demands for about $6 billion collectively in disputes on income-tax, customs and other payments that go back years, a Reuters analysis shows

India's automobile industry will soon beat US, China to become number one in world: Gadkari

Presently, size of the US automobile industry is Rs 78 lakh crore, followed by China (Rs 47 lakh crore) and India (Rs 22 lakh crore)

Positive consumer sentiments drive automobile dispatches in 2024: SIAM

According to SIAM, total wholesales across categories increased to 2,54,98,763 units in 2024 against 2,28,39,130 units in 2023, a growth of 11.6 percent

Amid demand concerns, Piyush Goyal urges automakers to cut prices for sales boost

Seemingly referring to Hyundai, the minister said the auto industry is sitting on high margins and should look at more competitive pricing

It is zero discount on Creta, Thar, XUV3XO, Innova Hycross and Ertiga

As per S&P Mobility, new model launches have consistently proven to be pivotal in driving showroom traffic. Customers drawn to these new offerings are not discount seekers; rather, they are individuals willing to pay for novelty and exclusivity

Government welcomes FDI in auto sector, including from China, says Hanif Qureshi

Heavy industries additional secretary Hanif Qureshi says the FAME3 outlay has not been finalised as the ministry is gathering views from various quarters of the automobile industry

Vehicle sales in rural areas recovered since pandemic, says Economic Survey

Citing the FADA data, the latest survey revealed that close to 40 percent of Passenger Vehicle retails were in the countryside at 14,73,403 units

Economic Survey 2024: Auto PLI schemes attract Rs 67k-crore investment, FAME-II and ACC battery storage policy to boost industry

The automobile industry was helped by multiple government schemes in the fiscal year 2024 (FY24) during which the country produced around 49-lakh passenger vehicles, 9.9-lakh three-wheelers, 214.7-lakh two-wheelers, and 10.7-lakh commercial vehicles; the survey pointed out.

Indian automobile industry grows 19% to Rs 10.22 lakh crore in FY24: Report

The volume grew by 10 per cent during the year, the report by management consulting firm Primus Partners said.

Siam wants GST on two-wheelers to be lowered

The automobile body has also asked the government to remove the 3 percent cess on all two-wheelers which are above 350 cc