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The industry also expects greater support for hybrid vehicles, lower GST on EV spares, and skilling initiatives for the EV workforce

Local Auto Part Production: Earlier, in Jan, the ministry had extended the tenure of the scheme for automobiles and components. “While the auto industry grows in India at a phenomenal speed, our government is focusing on fuel efficiency, security, road safety and reduction in carbon emission,” Pandey said during a virtual address at the symposium of international automotive technology organised by the Automotive Research Association of India (ARAI).

Amid a massive decline in sales, the profit-after-tax (PAT) of Honda Atlas Cars (Pakistan) Limited (HCAR) plunged...

Gadkari asked automakers to accelerate investment and expansion in alternative technologies like electric, hydrogen, flex fuel etc. to ensure they “do not miss the bus”. The manner in which automobile numbers are increasing, there’s a huge potential in the sector, he pointed out. “Till four years ago, everyone had apprehensions about EVs. That’s no longer the case,” said Gadkari. Companies that were not forthcoming enough in their decision to invest in EVs are now repenting, he said alluding to “one among the top five carmakers”.

If one looks at the history of the stock market, the rallies which are led by the transportation and auto sector are more durable rallies. Especially the ones which are led by large commercial vehicles. The reason, sales of LCV and certain other auto segments is an indication of the economic situation on the ground. Demand for large commercial vehicles would only increase when there is higher economic growth as more goods get moved from one place to another when the economy is doing well. But as the stocks have done well in the recent past, it is time to be selective at least in the near term....