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Kia Motors expects slight delay in new model launches due to coronavirus pandemic
Kia Motors India also expects to do better this year with its third model to be available although the auto industry is going through a rough ride due to a prolonged demand slowdown that started from last year coupled with the impact of the pandemic induced lockdown.
Auto sector slowdown due to loan related issues, BS-VI transition: Tata Motors
"The sluggishness of the vehicle market in the country is goin...
Kia Motors India expects to grow sales with soon to be launched SUV Sonet
The new SUV, Kia Sonet, will take on the likes of the Maruti Suzuki...
Car sales in India to stabilise in 2020 on back of stimulus measures, discounts: Moody's
The rating agency, however, lowered its global sales forecast over coronavirus outbreak concerns.
Family buyers drive multiple purpose vehicles sales up amid slowdown
Led by a series of new launches, the multiple purpose vehicles (MPV), or family cars, are back. The segment registered 35% growth in 2019 to 2.2 lakh units, with cars priced between Rs 6 lakh and Rs 25 lakh. By contrast, most segments of the automotive market contracted, often in double digits. So, the share of MPVs in India has risen from 5% to 8%.
Maruti Suzuki's Alto crosses cumulative sales milestone of 40 lakh units in India
"Alto is India's first entry level car to become BS-VI compliant coupled with the latest crash and pedestrian safety regulation," MSIL claimed. It offers a fuel efficiency of 22.05 km/l for petrol and 31.56 km/kg for CNG.
Auto industry seeks bold fiscal measures in the Budget to revive growth
The sector — suffering for a year now — reported its worst-ever sales decline in two decades during 2019.
Covid-19 impact: 8-10% auto dealers face closure
There are currently about 15,000 auto dealerships (includes 2,3 and 4 wheelers) across India. It is expected that there will be closures of at least 8-10% of these dealerships in the next six months. A year back, around 275 plus dealerships were forced to shut shop citing unviability of the business when a slowdown choked sales.
No plan to reduce headcount due to slowdown: Tata Motors
Tata Motors' CEO says they aren't looking to reduce people due to the ongoing slowdown in the domestic market.
Bajaj Auto total sales down 3 percent in December
The firm had sold a total of 3,46,199 units in December 2018, Bajaj Auto said in a statement. Total domestic sales were down 15 per cent at 1,53,163 units as compared to 1,80,351 units in the year-ago month.
M&M posts 1% rise in auto sales in December
Mahindra & Mahindra Ltd on Wednesday reported a 1 per cent rise in automobile sales in December 2019, as a rise in passenger and utility vehicles offset a dip in commercial vehicle sales.
Slowdown in auto sector cyclical; government taking steps to support the sector
Minister of Heavy Industries and Public Enterprises Prakash Javadekar said the sector is facing a prolonged downturn due to various reasons, including reduction in finance availability and increase in cost due to upfront collection of insurance premium.
COVID-19 might force auto dealers to look for new biz models, some face 'existential crisis': FADA
While auto dealers are already working on contactless sales, the pandemic has accelerated implementation of such practices and priority is also on maintaining safety protocol. As the auto industry continues to battle challenging times, FADA President Ashish Kale said auto dealership models would have to undergo changes.
Honda Cars India offers VRS scheme to its office associates as part of right-sizing
The maker of popular sedans had offered a voluntary retirement scheme to its plant workers in January-February and now has initiated a similar scheme for its office associates starting July 24th.
Jaguar Land Rover global sales dip 5.9 per cent in 2019
The sales of Jaguar brand were at 1,61,601 units during the month, down 10.6 per cent, while Land Rover sales witnessed a dip of 3.8 per cent during the year as compared with 2018, Tata Motors said in a regulatory filing.