Indian auto sector sees 32 deals worth $1.9 billion in July-Sep
The Indian auto sector saw 32 deals worth $1.9 billion in the July-September period, marking the highest quarterly activity since Q4 2021, according to a report on Thursday.
The Indian auto sector saw 32 deals worth $1.9 billion in the July-September period, marking the highest quarterly activity since Q4 2021, according to a report on Thursday.
Munjal was speaking at the annual session of Auto Components Manufacturers Association of India (ACMA).
Keeping into safety and wellbeing of all stakeholders, the company said it has also launched multiple digital after-sales services through the Hero app.
During the meeting, Gadkari suggested to focus on enhancing liquidity in business, as ups and downs are common.
Ashok Leyland said it is difficult for the industry to reboot even in a phased manner due to disruptions in supply chain.
On the other hand, commercial vehicles’ sales were down 14.04 per cent to 75,289 units in January, the data added.
With more and more Indians living in apartment complexes, and with parking woes afflicting most other residential neighbourhoods, inadequacy of charging infrastructure makes the use of electric vehicles difficult.
Currently, two-wheelers costing upto Rs 1.5 lakh are taxed at 9 per cent of the vehicle cost, while those between Rs 1.5 lakh to Rs 3 lakh at 12 per cent. The vehicles costing more than Rs 3 lakh attract 15 per cent tax, as per the data.
The auto sector presently suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages, and liquidity constraints. The sales slowdown has hit hard to the passenger vehicle manufacturers.
New indirect tax regime GST is likely to be beneficial for auto, cement and organised retail sectors, but will have…
