Just two years ago, India’s huge car market was booming and global players were rushing to invest. Now it’s been slammed into reverse. Sales of passenger vehicles plunged 31% in July, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. Read more: https://edition.cnn.com/2019/08/13/business/india-car-sales-slump/index.html SOURCE : CNN
Shared wheels deflate due to cash flow problems
Chinese car-sharing companies, which allow consumers to rent vehicles for a short period, are facing cash-flow pressure as income trails the high cost of fleet operation and maintenance. Among them, Beijing-based Togo is facing a crisis amid consumer complaints about the company’s failure to return individual deposits of 1,500 yuan (US$218). Read the full story […]
China to slash import tariffs on cars
China will cut import tariffs on cars and auto parts by 15 percent to 25 percent from July 1, the Ministry of Finance announced. Read the full story at https://www.shine.cn/biz/auto/1805235054/ SOURCE: SHINE
India’s auto industry gears up for government’s electric vehicles push
India’s aggressive push to electrify all new vehicles by 2030 is compelling auto part manufacturers and carmakers to draw up early plans for electrification, company executives said. Read the full story at http://www.reuters.com/article/us-india-autos-electric-vehicles/indias-auto-industry-gears-up-for-governments-electric-vehicles-push-idUSKCN1BM02X SOURCE: Reuters
India to be a major manufacturing hub for automobiles with sales up to 9% up between 2016 and 2017
SOURCE: SIAM By Charles Moreira The Society of Indian Automobile Manufacturers (SIAM) sees India becoming a major manufacturing hub for automobiles, with exports of passenger vehicles likely to grow further. The automotive industry body expects India’s domestic sales of 3,046,727 passenger vehicles between April 2016 and March 2017 to go up 9.23%, over the 2,789,208 […]
