Dealers, UAW condemn Stellantis CEO over cuts, sales declines

Dealers, UAW condemn Stellantis CEO over cuts, sales declines

Carlos Tavares, CEO of Stellantis, poses during a presentation at the New York International Auto Show in Manhattan, New York, on April 5, 2023. David Dee Delgado | Reuters DETROIT – Stellantis‘ U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company’s recent sales declines, factory production … Read more

ITC on demo cars: Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC

ITC on demo cars: Automobile dealers can claim ITC on demo cars used for promoting sales: CBIC

Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law, the CBIC has said. However, no ITC would be available if demo cars are used by dealers for their own purpose during the course of the business. In a circular, the Central Board of … Read more

Genesis Is Going Racing At Le Mans

Genesis Is Going Racing At Le Mans

Image: FIA WEC Upmarket Hyundai sub-brand Genesis is becoming a real grown-up automotive brand and finally kicking off its own major international racing team. While Hyundai has been doing the yeoman’s job racing in TCR and WRC, Genesis has been sitting on the sidelines waiting for its turn at the big leagues. This week the … Read more

CEO of Ford’s highly profitable Pro business to retire

CEO of Ford’s highly profitable Pro business to retire

Ted Cannis, chief executive officer of Ford Pro, speaks during an interview in New York, on Thursday, July 28, 2022. Victor J. Blue | Bloomberg | Getty Images DETROIT — The head of Ford Motor‘s highly profitable “Pro” commercial and fleet business will retire at the end of this month, the company said Thursday. The … Read more

PM E-DRIVE: Officials say regular checks will ensure better compliance in PM E-DRIVE

PM E-DRIVE: Officials say regular checks will ensure better compliance in PM E-DRIVE

The centre will conduct bi-annual inspections to ensure companies getting subsidies under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme are complying with localisation norms. This Rs 10,900 crore flagship scheme for promoting clean mobility under the Ministry of Heavy Industries (MHI) aims to subsidise domestically made electric buses, trucks, ambulances, … Read more

GM, Hyundai to explore co-development of vehicles, manufacturing

GM, Hyundai to explore co-development of vehicles, manufacturing

Mary Barra, chair and CEO of General Motors, and Euisun Chung, executive chair of Hyundai Motor Group, during the signing of an agreement between the two companies to explore future collaboration across key strategic areas. Courtesy image DETROIT — General Motors and Hyundai Motor have entered into an agreement to explore “future collaboration across key … Read more

Automobile industry hails PM e-DRIVE scheme to promote EVs

Automobile industry hails PM e-DRIVE scheme to promote EVs

New Delhi: The Society of Indian Automobile Manufacturers (SIAM) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 EV charging sites. Shailesh Chandra, … Read more