“I think broadly speaking, the market does offer a lot from a consumption perspective. So, multiple sectors and it is a very exciting space and has been for some time,” says Jonathan Schiessl, Westminster Asset Management.Wanted your take regarding consumption as a basket? Now, overall demographics of India are quite strong right now and rural … Read more
Stung by leftover inventory and unsure about consumer spending, India’s auto dealers are worried about having to discount more to boost demand in the upcoming festive season, a representative of the dealers’ body said on Thursday. The double-whammy of higher inventory costs and deeper discounts are a nightmare for auto dealers as that has a … Read more
The two-wheeler (2W) industry is anticipated to grow in high single digits, with an estimated 8 per cent year-on-year (YoY) increase whereas the tractor industry is anticipated to see marginal growth of approximately 4 per cent YoY in the domestic market, according to a report by Nuvama, a wealth and investment firm. The growth of … Read more
Genesys International Corporation, a provider of advanced mapping services, is in advanced talks to secure an order worth Rs 150-200 crore from two leading original equipment manufacturers (OEMs) in India to provide AI-powered navigational maps and connected car solutions, according to sources familiar with the matter. The formal announcement of the order is expected in … Read more
Registrations of cars, two-wheelers and commercial vehicles – a proxy for retail sales – rose by 13.84% to 2,034,116 units last month as dealers liquidated stocks driven by demand from rural markets and attractive discount schemes floated by companies to draw buyers. Dispatches of passenger vehicles last month, though, declined by about 2% with automakers … Read more
New Delhi: The current GST rate structure of passenger vehicles in India is outdated and needs to be aligned with the new developments in the auto industry, according to JSW MG Motor India CEO Emeritus Rajeev Chaba. The government should consider the overall perspective of vehicular emissions, reduction of import bill, sustainable local supply chain … Read more
New Delhi: Indian automotive industry will need up to 2 lakh skilled people by 2030 to meet the government’s vision of 30 per cent electric vehicle adoption, the Society of Indian Automobile Manufacturers said on Tuesday. A total talent investment of Rs 13,552 crore is expected for hiring and training the workforce. “As we look … Read more
Car discounts have made a return after four years of long waitlists, driven by changes in the automotive industry’s pricing strategies. Dealers are ramping up production to meet high demand, particularly for SUVs, and are offering substantial discounts across various models. Discounts are available on a range of vehicles, including hatchbacks, sedans, and electric vehicles … Read more
Mumbai: Automakers will have less of a pricing power this fiscal owing to a muted demand. As a result, the average price increase is expected to be 4% to 5% this fiscal as against 8% in fiscal 2023-24, according to Primus Partners, a management consulting firm. However, even as the volumes are expected to be … Read more
Mumbai: German auto component supplier ZF Group on Wednesday said it has sold a 7.5 per cent stake in its Indian subsidiary ZF Commercial Vehicles Control System (CVCS) India to increase liquidity and financial flexibility for growth. The sale of shares has no effect on ZF’s control over ZF CVCS India, the company said in … Read more
