Ahead of festive season, almost all car companies including Maruti, Hyundai, Honda, Toyota, Mahindra are giving huge discounts on several models.
Maruti Suzuki chairman says monsoon pickup has kindled hopes, asks banks to step up credit.
The stock with passenger vehicles (PV) dealers averaged between 25 and 30 days’ equivalent at the end of July as per FADA.
The unsustainable cost of holding high inventory had led to as many as 300 dealerships going out of business in the 18 months leading to April 2019, ET had earlier reported.
According to Federation of Automobile Dealers Associations (FADA), PV sales stood at 2,74,772 units in July 2018.
Robots work alongside humans in many sectors, especially welding, casting and parts of the assembly.
"I believe some kind of subvention package will be required now for a real turnaround of the auto industry,"
The maker of the Harrier and Nexon SUVs, Prima range of trucks and Ace mini-trucks, however, expects this to be a temporary phase.
The auto sector is facing its worst crisis in two decades and reports suggest thousands of job losses in the automobile and ancillary industry.
The local assembly cum manufacturing operations will lead to significant tax savings for Mahindra Ideal Lanka, which is hoping to price the KUV100 below 3.2 million Sri Lankan Rupee (INR 12.85 lakh).
Hybrid cars should be given duty cut. They're 30% more efficient & will help reduce oil imports, Bhargava said.
The industry has sought an 'End of Life' policy from the government as a measure to arrest falling sales.
The Union had demanded 10 per cent hike in bonus, while the management offered five per cent, which was not acceptable.
By local assembly cum manufacturing operation, Mahindra Ideal will save over 70% in taxes.
Investment from a company like TVS is key for a firm like Predictronics to guide, improve, and validate its technology, deployment strategy, business model and go-to market, Lapira added.
Tier II-III companies with a turnover of less than Rs 400 crore are bleeding the most.
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