In a message to the auto industry body SIAM on its 61st Annual Convention, PM also stated that India remained firmly committed to move forward with the goal of clean and modern mobility, while lauding the role of the industry in the country's progress.
Passenger vehicle wholesales in India increased 13.59 per cent to 2,52,998 units last month on a very low sales base of December 2019, auto industry body SIAM said on Thursday. Passenger vehicle sales in December 2019 stood at 2,22,728 units.
Vehicle production across all categories is likely to be critically hampered due to the coronavirus outbreak in China as many automakers in India import about 10 per cent of their raw materials from the neighbouring nation, auto industry body SIAM said on Wednesday.
Wadhera welcomed the bold announcements including the reduction of the corporate tax rate to 22 per cent and no minimum Alternate Tax for companies not availing incentives under the Income Tax Act.
Domestic car sales were down 41.09 per cent to 1,15,957 units as against 1,96,847 units in August 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM) released on Monday.
Auto Sector Crisis: The auto sector, which is reeling from a slowing demand, has got a much-needed voice of support from Union Road and Transport Minister Nitin Gadkari.
Affordability and availability of retail finance as well as finance for dealers was a major concern for the industry and the announcement today have adequately addressed concerns on both the fronts. The release of Rs 70,000 crore for PSU banks recapitalisation and Rs 20,000 crore for National Housing Bank will give banks and NBFCs enhanced liquidity in the system. Moreover, the linking of repo rate to interest rates charged for vehicle purchase would support lowering of EMIs for auto purchases, thereby boosting demand.
Strongly objecting to government think tank Niti Aayog's proposal to transition to electric vehicles (EVs) for three-wheelers by 2023 and two-wheelers by 2025, the two companies said the policy has not been made with adequate study and diligence.
New Delhi: Domestic passenger car sales fell for the first time in 15 months after logging a marginally dip to 1,68,303 units in January as against 1,69,527 units in the year-ago period.Motorcycle sales last month,
New Delhi: Honda Cars India Ltd (HCIL) will recall around 2.24 lakh units of its premium sports utility vehicles -- CR-V, sedans Civic, City and hatchback Jazz, manufactured between 2003 and 2012 -- to replace
New Delhi: Society of Indian Automobile Manufacturers (SIAM), an automobile industry body, has asked the Finance Minister Arun Jaitley to reduce excise duty on automobiles in the forthcoming budget in order to help the sector
New Delhi: Domestic passenger car sales rose 15.26 per cent to 1,52,743 units in December 2014 as compared to 1,32,524 units in December 2013.Motorcycle sales last month declined 3.52 per cent to 7,79,908 units from
Chennai: The 12th Edition of Auto Expo will be held at the India Expo Mart in Greater Noida during February 7-11.The event will be jointly organised by the Society of Indian Automobile Manufacturers (SIAM), the
New Delhi, Jun 14: Automobile industry body SIAM today said Oil Minister S Jaipal Reddy's proposal of additional taxes of up to Rs 2.55 lakh on diesel vehicles should not be taken up without the
Mumbai, Dec 8: Car sales in India will likely be almost flat this fiscal year, despite a 7 percent rise in sales in November, an industry group said Thursday.Car sales growth for the fiscal year
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