Automobile sales nosedive 55% in May, Will June bring respite with ease in COVID-19 restrictions?

New Delhi: In the month of May, automobile sales dropped by over 55% month on month (MoM), courtesy of the lockdown announced in many states across the country to tame the second wave of COVID-19. In comparison to May 2019, auto sales plummeted by over 70%.  The drop in sales was witnessed across all automobile … Read more

Ashok Leyland scales down production as demand dips amid COVID-19 surge

With a surge in COVID-19 cases across the country, various auto companies have either taken a temporary break from production or have scaled down manufacturing. Hinduja group flagship Ashok Leyland on Monday said it has curtailed production at its manufacturing plants due to dip in demand with second wave of COVID-19 sweeping across the country. … Read more

China urges chipmakers to allocate more capacity to China auto market

The ministry also asked the firms to improve logistics efficiency and supply chain coordination to support the industry’s development, according to the statement. (Subscribe to our Today’s Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.) China’s industry ministry said on Tuesday it met with automotive and … Read more

Apple near deal with Hyundai on autonomous cars: reports

The report said Apple wanted to work with an established automaker willing to allow the California tech giant to control the software and hardware that will go into the vehicle. (Subscribe to our Today’s Cache newsletter for a quick snapshot of top 5 tech stories. Click here to subscribe for free.) Apple is close to … Read more

Government nod to vehicle scrappage policy likely soon: Nitin Gadkari

NEW DELHI: The much-awaited policy to scrap 15-year old vehicles is likely to get government nod soon, Union Minister Nitin Gadkari said on Friday. On July 26, 2019, the government proposed amendments to motor vehicle norms to allow scrapping of vehicles older than 15 years in a bid to spur adoption of electrical vehicles. “We … Read more

Auto dispatches saw year-on-year growth in Nov.

A majority of automobile manufacturers registered year-on-year growth in dispatches to dealers during November amid improving customer sentiment and expectations that preference for personal mobility due to the pandemic will continue to drive demand. However, market leader Maruti Suzuki India on Tuesday said its domestic passenger vehicles sales fell 2.4% to about 1.35 lakh units … Read more

‘PLI scheme to benefit auto industry over 2020-25 period’

But, operational risks in India still remain: Fitch Solutions . Fitch Solutions Country Risk and Industry Research on Friday said the government’s decision to extend the production-linked incentive scheme to the automobile industry would provide significant benefits to the sector over the next 5 years. It, however, noted that some of the operational risks present … Read more

PLI scheme for auto will enable India become a part of global value chain: Industry

The Production Linked Incentive Scheme (PLI) approved Wednesday by the Centre for automobiles and ancillaries will help India enhance its competitiveness and become a part of the global value chain, top industry stakeholders told ET. The Department of Heavy Industries (DHI), the implementing ministry for the plan, is expected to shortly detail the eligibility criteria … Read more

Maruti Suzuki sales down by 53.8%, sells over 51,000 cars in June

The country’s largest car maker Maruti Suzuki on Wednesday said it sold 51,274 passenger vehicles in the domestic market amid gradual re-opening of the country after two-month nationwide lockdown. On an year on year basis, the company’s wholesale sales were 53.8% lower from 1,11,014 vehicles dispatched to dealers in June 2019. However, it is much … Read more