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Tractor sales in India recorded a 28% y-o-y growth this year, from April to November. Experts attribute the trend to better monsoon, finance availability and lesser expenditure on weddings.
The incentives, spread over 5 years, will be provided to sectors like auto, automobile components, textile products, white goods like LED screens, processed food products, among others.
Indian governments keep taxes on cars, motorbikes so high that companies find it hard to build scale & buyers find them out of reach, Toyota says.
Chennai’s automotive corridor slowly finds its feet after nearly 2 months of lockdown. Hyundai and many other manufacturing units resumed operations on 8 May.
A host of issues will factor in to the new world of car buying, including e-commerce, independent mechanics’ shops, and strict franchise laws.
Brands and dealers are stepping up their presence on social media to launch new models, showcase vehicles and host live broadcasts to attract customers.
Employees are returning to work, production lines are starting to roll and even the original outbreak epicentre of Wuhan is ending its lockdown soon.
Govt is pushing for faster adoption of electric vehicles — hoping 15% of all vehicles on roads will be electric in 3 years. But they cost too much.
Car sales had plunged for 11 months through September, and the industry was forced to cut production as well as close to 6 lakh jobs.
Chandrasekaran says he’ll seek more technical partnerships to help Tata Motors transition to electric and autonomous vehicles, not sell the company.