Maruti Suzuki India on Tuesday announced the fifth round of its MAIL initiative, inviting entries from early startups in mobility and automobile space.
Last month, Tata Motors witnessed a 79 per cent YoY growth to 23,617 units from 13,169 units sold in October 2019.
This has increased the total toll collection to Rs 92 crore per day which is a "substantial increase" in the daily toll collection from Rs 70 crore per day a year back.
Welcoming the announcement by the government FADA said the step will also make the auto industry more competitive globally, improve export and will make production better.
Tata Motors is also looking to overhaul its entire sales, aftersales and service verticals to enhance the overall buying experience for customers.
On a YoY basis, October retail sales declined by 23.99 per cent to 18,59,709 units from 13,44,866 units off-take during the like month of last year.
Hyundai recorded its highest-ever monthly domestic sales in October at 56,605 units amid the pandemic.
The fleet segment sales have fallen during the period under review as people were opting for personal mobility options at the cost of shared and public transport.
Hyundai believes that the longterm pull in the market would depend upon the overall macroeconomic situation.
Nitin Gadkari also emphasized on promoting use of bio fuels like CNG, LNG and informed that he would soon launch tractors run on Bio-CNG.
Healthy off-take on the back of festive season, along with pent-up demand and attractive interest rates are few of the reasons for accelerated year-on-year (YoY) and sequential sales numbers for October.
Maruti Suzuki's domestic sales increased 19.8 per cent to 1,72,862 units last month as against 1,44,277 units in October 2019.
Hero MotoCorp reported year-on-year growth of 35 percent after selling 8,06,848 units as against the 5,99,248 units that it sold in the same month last year.
The move will result in financial benefits totalling Rs 100 crore to the transport sector, an official spokesperson said.
Maruti Suzuki India, the country's largest car maker, on Thursday said there is no immediate need for GST rate cut on passenger vehicles with demand looking good for the next few months.
Notably, Honda has recorded a YoY sales growth in the nine-day period, which marks the arrival of the festival season in India.
Cropping seasons would mean higher disposable income in rural India that would boost two-wheeler sales and will also drive up the segment's share to 56 per cent of the overall pie.
Omega Seiki Mobility is part of Anglian Omega business group who has a significant presence in steel, automotive components and infrastructure business pan India.
Chandigarh based RowthAutos.com has launched the first-ever new car bargain platform, where customers can bargain final discounts in comparison with all new car dealers in their respective region.
Tata Motors' consolidated net loss widened to Rs 307 crore in the September quarter due to the pandemic, but it expects gradual recovery of demand and supply in the coming months.