automobiles
India plans incentives for auto companies to boost exports
The move is part of India’s effort to create ‘champion’ sectors to attract investment, generate jobs and boost manufacturing
Auto, pharma sectors not ready to wean off China
India relies on China for products such as electronic components and drug ingredients because it cannot source them elsewhere as cheaply
Maruti Suzuki India records 86% slump in May sales
Domestic sales declined by 88.93 percent to 13,888 units last month
TVS Motor cuts staff salaries by up to 20% as sales plummet
There will be 5 per cent salary reduction at the junior executive level and about 15 to 20 per cent at the senior management level
Auto component industry likely to witness double-digit degrowth in FY21
India exports around 12 percent of the total auto components to economies with reliance on crude oil such as Africa and Latin America
Some auto companies resume production, others prepare to restart manufacturing
Home Ministry allowed factories in rural areas or those outside municipal limits to resume production under strict safety guidelines
Auto stocks slump nearly 12% as automakers score nil domestic sales in April
Maruti Suzuki India, Hyundai Motor India Ltd, Mahindra & Mahindra, Toyota Kirloskar Motor and MG Motor India reported nil sales
Government seeks suggestions from auto industry leaders for resource mop-up
The industry captains also sought liquidity support to component makers and dealerships
Toyota reports 1 per cent profit growth on healthy global sales
Toyota Motor Corp's profit for the second fiscal quarter totaled USD 5.4 billion, up from 585 billion yen last year.
Peugeot and Fiat Chrysler unveil merger of equals
Merger would be achieved via creation of a parent company in Netherlands in which the shareholders of each current group would own half.