Mumbai: Scooters are experiencing a renaissance in the Indian market, even outpacing the traditional reign of motorcycles. Expansion of electric mobility, urban congestion and rising female participation in the workforce are among factors which lifted the share of scooters in the local two-wheeler market to a seven-year high in the first five months of this … Read more
Union Minister of Road Transport and Highways, Nitin Gadkari on Tuesday announced that commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit. The decision was taken at SIAM CEO’s Delegation meeting chaired by Gadkari at Bharat … Read more
Carmakers and their dealers are battling each other over inventory levels amid slowing demand. The Federation of Automobile Dealers Associations (FADA) says their members are carrying stock equivalent to over two months of sales, that is, 730,000 units. Carmakers argue it’s about half that — 400,000-410,000 units. FADA has written to the Society of Indian … Read more
Sales of passenger vehicles fell for the first time in more than two years in July on a high base worsened by sluggish demand and inventory glut at dealerships. Two-wheelers however grew in double digits, and three wheelers in low single digits, helped by steady recovery in rural demand, on a low base. Passenger vehicles … Read more
New Delhi: Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the … Read more
Mumbai: Auto industry body, Society of Indian Automobile Manufacturers (Siam) has written to the government requesting for a reduction in the GST on two-wheelers. It has suggested that the government adopts three range slabs of reducing the rate-from the current 28% to 18% for internal combustion engine powered two wheelers, to 5% from the current … Read more
New Delhi: Car sales in the local market rose 1.3% to 335,629 units last month, and automakers attributed the tepid pace of growth to tapering off of the post-pandemic pent-up demand that sustained for the last two financial years. Though the growth rate moderated in April, it was the fourth consecutive month when sales volume … Read more
Merchants from as far as the Middle East and the Ryukyu kingdom (present-day Okinawa) called at its port. A 17th century map of Malacca. Photo: Getty Images His monumental visits, accompanied by a fleet of the biggest ships the world had ever seen at the time, spawned many stories of dubious historicity that continue to … Read more
Car sales in the local market rose 1.3% to 335,629 units last month. Automakers attributed the tepid pace of growth to tapering off of the post-pandemic pent-up demand that sustained for the last two financial years. A high base due to the strong growth in the last two years weighed on the year-on-year comparison, resulting … Read more
Automobile exports from India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. Commenting on the drop in overseas shipments last fiscal, SIAM … Read more
