Finance Minister Nirmala Sitharaman Tuesday said the slowdown in the automobile sector was due to many factors like the change in mindset of millennials,who now prefer taxi aggregators like OLA and UBER instead of committing for monthly installments to own a car.
Automobile sales in India witnessed its worst-ever drop in August with despatches in all segments, including passenger vehicles and two-wheelers, continuing to plummet as the sector reels under an unprecedented downturn, industry body SIAM reported on Monday.
The company's market valuation dropped Rs 6,644.88 crore to Rs 1,76,105.12 crore on the BSE.
Sitharaman hit out at the Congress for indulging in "huge corruption and scandals" to run the economy and said its tenure saw inflation touching double digits with skyrocketing prices.
"We are actively engaging with the auto dealers and in case of hardship faced by them the bank is extending credit repayment period on the case to case basis," SBI managing director (retail & digital banking) told reporters here on Sunday.
The auto sector is the worst-hit sector in the current slowdown and apart from huge inventory build-up, the companies are resorting to production shutdowns to cope up with poor sales.
In his address to shareholders in the company's Annual Report for 2018-19, N Chandrasekaran also reiterated that transition to electric mobility needs to be well planned with government and industry working together to ensure development of ecosystem while incentives are provided to stimulate demand and sustainability goals are achieved.
Mahindra Marazzo MPV has been launched in India with prices starting at Rs. 9.99 lakh, going up to Rs. 13.90 lakh (introductory, ex-showroom).
TVS Radeon boasts of multiple first-in-class features and usage-led design which offers strength, comfort and style without compromising on practicality, the company claims.
It may not be quite like the Jetsons, but for over a million dollars you too can soon fly around in a car.
Indian automaker Tata Motors-owned Jaguar Land Rover today introduced Velar SUV at a grand ceremony. Gerry McGovern, Land Rover Chief Design Officer, credited the final product to Tata Group chairman emeritus Ratan Tata. "I would
With a new exterior design, enhanced safety features and an evolved infotainment system, the Automobile manufacturer Honda Cars India Ltd. on Tuesday launched the new Honda City 2017 in petrol and diesel variants. The petrol
New Delhi: Iconic sports car maker Ferrari today launched 488 GTB model in India priced at Rs 3.88 crore (ex-showroom Delhi).The car, which has a top speed of 325 km/h, is one of the fastest
Chennai: French automobile maker Renault would start exports of its car Kwid to South Asian Association for Regional Cooperation (SAARC) countries and the car's parts to Brazil from March onwards and grow over 100 percent
New Delhi: Yamaha has launched its only sports cruiser motorcycle in India, VMax. The bike has been showcased at the Yamaha pavilion at the Auto Expo 2016 in Greater Noida. The muscular and latest design
New Delhi: Automobile manufacturer Maruti Suzuki on Wednesday reported an increase of 1.8 percent in its total sales for June which stood at 114,756 units -- up from 112,773 units sold in the corresponding month
There has always been a dilemma over which car to buy especially if you have a small budget. Under that small budget you want a car that could cater to all our needs and requirements
New Delhi: Automobile manufacturers reported sluggish sales in February due to a slowing economy that is plagued by high fuel and interest costs.Sales of India's largest passenger car manufacturer Maruti Suzuki declined by 0.40 percent
New Delhi: The Scrooser, a cross between a child's scooter, a Segway, and a bike, is surprisingly cool. It looks like a standard, two-wheel kick scooter but actually has a motor built in and it
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