Panaji sources have reported that Union Steel Minister Chaudhary Birender Singh said that setting up auto-shredding plants will not only help India save foreign exchange but also preserve its natural resources like iron ore for posterity. He said "It will reduce the dependence on present annual import of scrap of 5-6 million tonnes of shredded scrap in the country. Consequently, foreign exchange outgo will also be reduced.
New Delhi sources have reported that the three newly established foreign car makers namely Puegeot, M G Motor India and Kia Motor India have beefed up appointments at the key roles. According to sources Saurbh Vatsa, a General Motors veteran has recently joined the Indian unit of Peugeot as head of marketing.
According to sources the Revenue Department had clarified that sale of old jewelry as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business. Meanwhile when clarifying on Revenue Secretary Hasmukh Adhia's comments yesterday stating that it was informed at GST Master Class that "purchase of old gold jewelery by a jeweler from a consumer will be subject to GST at the rate of 3% under reverse charge mechanism in terms of the provisions contained
Hubballi sources have questioned that how about charging your electric vehicle from an electricity pole if you are stranded on the way? And how about browsing the internet free of cost by connecting your device to Wi-Fi hot spots on such poles? These are two of the many more services that 250 smart poles to be installed at many places in Hubballi-Dharwad will offer.
Mumbai sources have reported that French car maker Groupe PSA has partnered with homegrown IT and engineering major Tata Consultancy Service. Together, the two will develop and engineer Groupe PSA’s ambitious emerging market Smart Car plan.
According to Automobile Lamborghini super sports luxury car market in India is expected to grow in double digits this year on the back of improved sentiments after remaining flat in 2017 and the Italian super sports luxury car maker, which sells Huracan and Aventador models in India, said last year was a challenging year for the industry due to lingering after effects of demonetization coupled with impact of GST (Goods and Services Tax) implementation.
New Delhi sources have stated that the share of diesel in hatchbacks and sedans has fallen to under a quarter, which means that more than three cars out of every four sold are now run on petrol. Meanwhile the narrowing gap between petrol and diesel fuel prices has been one of the critical factors behind the trend, which should sound like music to environmentalists and green lobbies.
Mumbai sources have stated that Skoda auto posted a more than 30% increase in India sales in 2017, as strong demand for the Rapid and other models helped the Czech automaker see its volume in this market growing for the first time in five years.
According to sources it was stated that the era of the internal combustion engines (ICE) is coming to an end across the world. India, too, is gearing up for the change with road transport and highways minister Nitin Gadkari giving a deadline by 2030.
Mumbai sources have stated that Maruti Suzuki is among the world's top car makers by market capitalization, is set to close 2017 on a record high in India, where it revolutionized personal transport in the mid eighties and has largely maintained its dominance over the next three decades.
New Delhi sources have reported that Andhra Pradesh is seeking to attract Rs 30,000 crore of investments in the electric vehicles industry through a raft of incentives that would include capital subsidies to automakers and charging equipment manufacturers, helping India achieve its stated goal of drastically limiting the use of fossil fuels for its surface transportation needs.
Hyderabad sources have stated that the officials of Society of Indian Automobile Manufacturers (SIAM) said despite roadblocks like GST demonetization, the auto industry had managed to gather pace this fiscal growing at a higher 9-10% as compared to 7-8% last fiscal and the growth was primarily driven by high demand from the tier-II and III cities.
Chennai sources have stated that Honda Motorcycle & Scooter India (HMSI), the second largest two-wheeler company in India behind Hero Motocorp, is working to a new strategy to close the volume gap between the two players and target the No 1 spot in the market.
New Delhi sources have stated that the government would support manufacturing and selling of electric vehicles (EVs) by giving incentives such as lower road taxes so that the automobile sector continues to play a major role in India's GDP and job creation.
New Delhi sources have stated that country's largest car maker Maruti Suzuki may have a plethora of products from entry level hatchback to a crossover but only a few products have been made it to the top and stood like the pillar in the overall growth of the company.