Auto industry needs a multi-facet budgetary intervention to jumpstart the demand and revive job creation.
Tag: GST
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Indian auto component industry reaches $51.2 bn in 2017-18
ACMA demands uniform 18 per cent GST rate across the auto component sector. While 60 per cent of the auto components attract 18 per cent rate currently, the rest (majority of which are two-wheelers and tractor components) are taxed at 28 per cent.
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Automotive lubricants market on a smooth ride
Rising vehicle ownership levels, incorporation of advanced engine, continuous growth in investment in infrastructure projects, robust two-wheeler sales, increase in number of women driving scooters, etc
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RATIONALISE GST, MAGNIFY BENEFITS
The automotive market is undergoing a significant transformation as it strives to become compliant with various regulations related to emissions (including the transition from BS IV to BS VI), safety and environment
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Infrastructure-led demand to drive CV market in FY 2019
The domestic commercial vehicles (CV) industry is expected to grow in the range of 9-11 per cent in FY 2019 supported by the pickup in infrastructure projects, improved industrial activity, healthy demand from consumption-led sectors, etc, says ICRA report.
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“Lower taxes will give a push to Make in India initiative”
The year 2017 was a challenging year for the automotive industry in India due to several policy fluctuations. In spite of this, BMW Group India reported 25 per cent increase in car sales in 2017 compared to 2016
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Govt notifies hike in GST cess on mid, large cars to 25 per cent
The government has notified hike in GST cess on a range of cars from mid-size to hybrid variant to luxury ones to a maximum of 25 per cent, from earlier 15 per cent.
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New launches drive auto sales in July
Price revision post the GST implementation coupled with new launches have boosted auto sales in July and the auto firms are expecting better sales ahead owing to good monsoon and the upcoming festival season.
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Passenger vehicle sales slump in June on GST fears
ales of passenger vehicles in June declined the sharpest since March 2013 as dealers stayed away from buying stock due to ambiguity over the goods and services tax (GST). Passenger vehicle sales declined 11.21 per cent to 198,000 units.
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Good rains, rural demand may keep Hero in top gear
Volume outperformance in the motorcycle segment in the June quarter and the twowheeler's status as a preferred vehicle to play the rural consumption theme are likely to hold investor interest in Hero MotoCorp, India's largest motorcycle maker.