Similarly, for our European operations, there was no growth capex being incurred, only maintenance capex would be incurred, he said, adding the company expects to invest €40 million in the European operations this year and
Though the company expects to benefit through pre-buying ahead of BS-VI transition in fourth quarter to some extent even as the CV industry is half way to ongoing cyclical downturn and is involved in heavy discounts to push i
An analyst with Motilal Oswal Securities said, “It seems the recovery is elusive and the inventory correction continues to be undertaken by the OEMs. Our interaction with leading PV/2W/CV channel partners still indicates no
BMW will also go for dealers expansion with 13 more in the next 12 to 15 months. In an interview with R Ravichandran of FE, Rundratej Singh, president & CEO, BMW Group India, while terming the current slowdown is short-term i
The Madras High Court has ordered an interim stay on Tamil Nadu government’s order declaring automotive component manufacturing industry as “public utility service”, describing the decision as arbitrary.
After posting robust 24% and 37% growth in FY18 and FY19, the industry has reported a 11.64% drop in sales to 267,198 units as compared to 302,383 units sold in the same quarter last fiscal, said a SIAM data.
The new code is billed to bring in accountability and transparency in tyre performance in India by labelling key consumer centric informations on sidewalls of tyres, said industry sources, adding that they expect a government
The over Rs 1,600-crore India’s leading air compressor company ELGi Equipments is betting big on the global markets, particularly the European region, to become No. 2 company in the $15-billion air compressor market.
Hyundai Motor India Ltd (HMIL) is betting big on Venue, a compact SUV which will be launched shortly. Amid challenges and subdued market sentiment, HMIL expects Venue will not only give the needed impetus to maintain its grow
Almost all major players, such as Bajaj Auto, TVS Motor, Piaggio, have reported a robust performance in exports due to the surging demand for three-wheelers produced in India in contrast to domestic sales.
WPTUC general secretary Valter Sanches has said the union is concerned over continuing violations of workers' rights and vindictive actions against the staff at Royal Enfield's Oragadam plant in Chennai because of their parti
The objective of creation of new service centres (NSCs) on the PPP model is aimed at providing adequate facilities for testing, training, sample development, consultancy, trouble shooting and facilitation services.