\"Inordinate delays in clearance due to congestion at port could eventually impact manufacturing of vehicles in India. The industry is piecing itself together as growth is limping back; any further disruption at this juncture is best avoided,\" said Rajan Wadhera of SIAM

The Department of Heavy Industries (DHI) has sought feedback from auto industry groups on the initial proposal, which suggests giving incentives over five years to increase local production and procurement for export

Honda has recalled 32,498 units of its compact sedan Amaze, 16,434 units of the mid-size sedan City, 7,500 units of premium hatchback Jazz, 7,057 units of WR-V, 1,622 units of the BR-V, 360 units of the entry-level small car Brio and 180 units of its sole premium SUV CR-V

Two-wheeler sales declined 88.8 per cent to 1,59,039 units last month as compared with 14,19,842 units in May 2019

Auto industry body SIAM has been urging the government to reduce the GST rate on vehicles from 28 to 18 per cent, and to introduce an incentive-based scrappage policy

Auto industry wants the entire value chain, which includes factories of all component makers, vehicle and two-wheeler manufacturers, as well as dealerships, across the country to be allowed to open in one go

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According to SIAM, manufacturers are clocking a revenue loss of Rs 2,300 crore every day and the cumulative figure for the month is in the vicinity of Rs 70,000 crore

With the health crisis likely to peak in April-June period, the expectation is that sales in the quarter will decline by as much as 40-50 per cent

Companies want a temporary 10 per cent cut in tax on the sale of all automobiles and auto parts and incentives, in the form of tax rebates, for car owners to scrap their old vehicles, SIAM said

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Sale of trucks and buses saw a steeper 88 per cent decline with sale of just 13,027 units. Two-wheelers sales registered a 40 per cent dip with scooters witnessing a 32 per cent decline while motorcycles saw a 42 per cent contraction

Industry body Society of Indian Automobile Manufacturers (SIAM) has predicted an over 20 per cent decline in sales this fiscal in the worst case scenario of the GDP growing at less than 1 per cent during the year

These numbers are based on GDP growth in the country slowing down to less than 1 per cent in the fiscal. This decline would push industry volumes back by a decade to around 2.15 million units, a level last seen in FY11

The petrol and diesel under BS-VI norms contain just 10 parts per million (ppm) sulphur. The NOx emissions will be slashed by 25 per cent in petrol cars and by 70 per cent in diesel cars

Major relief measures sought by the industry also include relaxation in fixed electricity charges and relaxation in levy demurrage charges for at least 7 days for import cargo clearance

The new subsidiary would be led by the current president of the EV business, Shailesh Chandra from April 1 while the current managing director of the PV business unit Mayank Pareek will retire from the company in February next year

Industry body Society of Indian Automobile Manufacturers (SIAM) has said the industry will suffer a production loss of an estimated Rs 2,300 crore per day due to the shutdown

Coronavirus Outbreak India and Lockdown News Updates: While Madhya Pradesh reported its first COVID-19 death, Delhi reported 5 new cases, Kerala reported 9, and Karnataka reported 10 within the past 24 hours

Almost the entire industry has come to a standstill since Monday as the government has enforced curfew in a few states and lockdown in various parts of the country to prevent the spread of the virus in the country