SCRAPPAGE POLICY
Automakers welcome centre's proposed Green Tax but transporters against it
According to the proposal, transport vehicles older than eight years could be charged a green tax at the rate of 10-25% of road tax at the time of renewal of fitness certificate. For personal vehicles, the tax will be levied at the time of renewal of registration certificate after 15 years. The proposal will now go to states for consultation before it is formally notified.
Auto dealers' body urges FM to introduce vehicle depreciation benefits for individuals in Budget
In its budget 2021 recommendations, Federati...
Government nod to vehicle scrappage policy likely soon: Nitin Gadkari
The policy is for scrapping of vehicles which are more that 15 years ol...
At 18 lakh, car sales crash to 10-year low in April-December
According to numbers released by industry body Siam, sales of passenger vehicles — a cumulative of cars, SUVs, MPV/UVs — stood at 17.8 lakh units in April-December, the lowest in a decade since the 18.1 lakh units sold in the same period of FY11.
PV sales in India at ten-year low, industry working hard to regain volumes: SIAM
While releasing the wholesale numbers for December and the third quarter (October-December) of the current fiscal, the industry body said high levels of uncertainty remain in the industry due to COVID-19 situation and shortage of critical components like semiconductors.
Indian car market may post record 30% growth in 2021 on low base
A laggard among the top 10 global passenger vehicle markets in 2020 after one of the most stringent and prolonged lockdowns in the world to contain Covid-19, India is expected to be among the fastest growing this year, probably only next to the US.
About 14 per cent cut in CO2 emissions possible in small commercial vehicle segment with EV push: Study
The study has come up with various recommendations, including setting up of a nationwide vehicle scrappage policy programme, with a focus on electric vehicle replacement.
Govt to seek Cabinet nod for national multi-modal connectivity master plan: Secy
The master plan would set timelines for various infrastructure ministries to reduce logistics time and costs as India intends to provide multi-modal connectivity of global standards to various production centres of the country by 2024.
Expect better commercial vehicle volumes in remaining part of FY21: Ashok Leyland
"In the first quarter, we came across a one of its kind situation, everything was shut. As things have started to open up, we have seen things becoming better. Looking at the situation, all indications point out that things will move up in the third and the fourth quarter," Ashok Leyland CFO Gopal Mahadevan told .
Auto stocks gain on hopes govt will unveil scrappage policy soon
“We are glad that the narrative around GST reduction and the scrappage policy are being worked out, as festive season is a big time to get the ball rolling,” Rajan Wadhera, President, SIAM said, while speaking at the 60th SIAM Annual Convention.
Govt looking into auto industry’s demand for temporary GST cut
Javadekar who was speaking at the 60th Annual Convention of industry body Society of Indian Automobile Manufacturers (SIAM) said he will discuss the industry’s suggestion for a temporary reduction in GST with the Prime Minister and the Finance Minister.
ET Now exclusive: GOI, SIAM deadlock over scrappage policy incentives likely to end soon
The vehicle scrappage policy that has been awaiting final guidelines from almost a year may soon become a reality. Sources tell ET Now that ...
Retail sales of automobiles decline 42 per cent in June due to tepid demand
Vehicle registrations, which is a proxy for retail sales, improved over May when registrations had dropped 88.9 per cent to about 200,000 units.
GST reduction, scrappage policy to help revive commercial vehicle industry: Ashok Leyland
The Hinduja Group flagship company also expects the situation due to the current downturn in the industry, most recently due to the coronavirus pandemic, to improve gradually during the current fiscal.
GST relaxation, scrappage policy needed to lift Auto Inc: Soumitra Bhattacharya, MD, Bosch
This year, we are looking at two million units. HCV (heavy commercial vehicles) was 500,000 units, and now we are looking at a maximum of 200,000 units. Two-wheelers were at 25 million units and now we are looking at 12-13 million units. These are all ballpark numbers, but they are substantially lower.
