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
Mumbai: Wholesale volumes across various segments of the automobile industry in June 2024 are anticipated to reflect a subdued trend, primarily attributed to the absence of wedding dates, according to Anand Rathi report. Analysts project a mixed performance with two-wheeler (2W) volumes showing resilience, while passenger vehicles (PVs) and commercial vehicles (CVs) are expected to … Read more
In a recent panel discussion presented by The Economic Times in collaboration with Epicor, Vishal Raj Saini, Country Head – India and Indian Subcontinent at Epicor Software, was joined by Ashish Sinha, Head Operational Excellence India Operations of Autoliv India and Parna Ghosh, CIO at Minda Industries, CIO, Uno Minda Group, to deliberate on the … Read more
MG Motor India has introduced the 100-year Special Edition variants of its well-liked models, Comet, Astor, Hector, and ZS EV in India. Although the models retain their specifications, features, dimensions, and performance, they receive some design modifications like the addition of an ‘Evergreen’ exterior with a starry black finished roof and dark elements throughout. The … Read more
India’s rapidly growing auto market is poised to hit a milestone, with projections indicating it will reach USD 300 billion by 2026. This growth is fueled by various factors, including rising income levels, urbanization, and a burgeoning middle class with increasing purchasing power.In March 2024, the Indian auto industry produced a total of 2,325,959 units, … Read more
Minda Corporation Limited, the flagship company of Spark Minda, Friday said it has rolled out one million two-wheeler smart keyless system. The smart keyless system has been designed & developed at the Smart Minda Technical Centre. Ashok Minda, Group Chief Executive Officer at Spark Minda, said, “As a technology-driven brand, Spark Minda continually pushes boundaries … Read more
India’s automotive sector employers are likely to offer double-digit pay increases in 2024, according to a new study, continuing the uptrend of the previous years as they seek to retain good talent. The pay rise is likely to be 10.5% on average for staff of automotive producers and 10% for those working for suppliers, according … Read more
Interim Budget Expectations: The government needs to continue with favourable policies to promote green mobility while also focussing on infrastructure development at a robust pace in the upcoming Budget, according to some leading firms in the automobile space. The Union government is all set to present the interim budget on February 1. “We expect capex … Read more
