Page 34 - Auto Sector News Today

The strong intent to purchase a vehicle reflected a healthy recovery in overall spending habits, it added. While the intent to purchase new vehicles is strong, used vehicles also seem to enjoy increased interest, the survey added.

High prices of automobiles are likely to persist at elevated levels even during 2022, said Grant Thornton Bharat in a report. Lately, increasing cost of commodities in India has resulted in record-high prices for new and used vehicles in the country. "It is expected that these high prices are likely to remain as such in the next year as well and may not reinstate until 2023."

Mumbai: M3M India Group has brought Pavan Kaushik on board as vice president and head of corporate communication. Kaushik carries with him more than 30 years of professional experience in leadership roles in the field of corporate communication and PR. He has worked for 10 years in the ministry of information and broadcasting, eight years in the National Institute of Fashion

Where Maruti said the price rise, which is planned for January 2022, will differ for different models, Mercedes-Benz stated that the hike will be on select models by up to 2% due to rising input costs and feature enhancement.

A look back at how Canada secured auto investment in the past shows how a peripheral economy gained a major auto sector — and how it might hold onto it even in the face of U.S. protectionism on EVs.

The East London Industrial Development Zone yesterday announced a further three manufacturing investors joining its automotive hub, bringing the total to 16 manufacturers, with investment topping R3.3bn.

MG Hector, the all-new SUV launched in India by Morris Garages on Thursday, has bagged over 10,000 bookings already. Bookings for the MG Hector had begun on June 4 this year and the response received by the company is just within 23 days.

The minister, who was present in Noida to inaugurate a vehicle scrapping and recycling unit, emphasised on the overarching benefits that recycling of vehicular waste may bring about for the sector and the overall economy.

Vehicle retail recorded a decline of nearly 18% from the same time last year.

The special session of Muhurat Trading ended with the key indices including the auto sector and consumer discretionary goods and services gaining substantially.