With an objective to create the next generation of mobility solutions, the country’s largest two-wheeler maker Hero MotoCorpNSE -0.05 % on Tuesday said it will invest Rs 10,000 crore over the next 5-7 years.
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Fitch Solutions on Wednesday said it expects vehicle production in India to contract by 8.3 percent in 2020 as the auto industry faces increasing risk of a supply shortage due to China’s coronavirus outbreak, possibly hitting domestic output if the virus spreads in the country.
Source: https://economictimes.indiatimes.com/industry/auto/auto-news
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2019 has been a rather forgettable year for the Indian automobile industry and the reasons are many. A prolonged economic slowdown, increase in vehicle prices, revised axle load norms for CVs that reduced M&HCV buying, the IL&FS crisis which impacted lending in rural India, the shift from BS-IV to BS VI-compliant vehicles, and subdued consumer sentiment. (source: autocarpro.in)
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Industry body SIAM on Tuesday said all Chinese companies participating at India’s flagship automobile show Auto Expo have confirmed that their exhibit area would be manned by their Indian employees in the wake of coronavirus outbreak. (Source: business-standard.com)
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Sighting the ongoing slowdown in the Indian automobile sector, Japanese carmaker Honda Cars India (HCIL) has floated a voluntary retirement scheme (VRS) for its permanent employees (for manufacturing) at the Greater Noida plant, effective from January 28, 2020. (Source: auto.economictimes.indiatimes.com)
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