Industry body seeks more incentives for auto industry

October 10th, 2009 NEW DELHI - An industry body Saturday urged the government to remove some provisions in the Direct Tax Code draft, especially those taxing capital gains arising on indirect transfer of Indian assets. "This can have serious implications in various international transactions like cross-border mergers and transfer of Indian shares in foreign capital markets," the Associated Chambers of Commerce and Industry of India (Assocham) said in a statement.

September 23rd, 2009 Auto industry supports ban on texting in carsWASHINGTON — An auto industry trade group says it supports a ban on texting and using hand-held cell phones while driving in advance of next week's major government summit on distracted driving. The Alliance of Automobile Manufacturers said Wednesday that using a hand-held device to text or make phone calls while driving represents a safety risk and it supports the ban.

August 14th, 2009 On the Call: IHS Global Insights analystsWhile it appears that the U.S. auto industry may have hit bottom, it won't recover from its woes quickly, an analyst for IHS Global Insight said Thursday.

July 9th, 2009 China's June auto sales up 36.5 percentBEIJING — China's auto sales soared 36.5 percent in June from a year earlier to 1.14 million vehicles, boosted by government incentives, an industry group said Thursday. Passenger car sales hit a monthly high of 872,900 units, the China Association of Automobile Manufactures said.

July 9th, 2009 China's June auto sales surge 36.5 percentBEIJING — China's auto sales soared 36.5 percent in June from a year earlier to 1.14 million vehicles, boosted by government incentives, an industry group said Thursday. Passenger car sales hit a monthly high of 872,900 units, the China Association of Automobile Manufactures said.

July 4th, 2009 RAJKOT - Auto part makers in Rajkot are hoping for concessions in excise duties and taxes in the coming budget. The city, which has with over 5,000 small and medium scale industries, is a hub for making auto parts.

July 2nd, 2009 NEW DELHI - The automotive industry in India grew at a computed annual growth rate (CAGR) of 11.5 percent over the past five years, the Economic Survey 2008-09 tabled in parliament Thursday said. The industry has a strong multiplier effect on the economy due to its deep forward and backward linkages with several key segments of the economy, a finance ministry statement said.

June 28th, 2009 NEW DELHI - A leading industry body has called for increasing customs duty on steel from 5 percent to 10 percent as consumption of local steel by domestic users was falling. According to the Federation of Indian Chamber of Commerce and Industry (Ficci), imported steel accounted for over 11 percent share of consumption, as compared to 6 percent a few years ago.

June 23rd, 2009 Obama wants new council to help auto industryPERRYSBURG, Ohio — A new government council will help workers tied to the auto industry transition to new manufacturing opportunities, including jobs in alternative energy, Vice President Joe Biden said Tuesday. Biden toured the northwestern Ohio headquarters of the Willard & Kelsey Solar Group, which plans to begin large-scale production this year of solar panels.

June 9th, 2009 China auto sales surge 47 percent in MaySHANGHAI — China's passenger car sales shot up nearly 47 percent in May to 829,100 units, buoyed by tax cuts and other government incentives, the China Association of Automobile Manufacturers reported Tuesday. But a month-to-month rebound in U.S.

April 8th, 2009 TORONTO - Canada Tuesday followed the US in unveiling its own package to back warranties for vehicles sold by the sinking General Motors and Chrysler in a bid to calm buyer fears. The government will spend about $185 million under the warranty plan for the auto sector which is the backbone of the Canadian economy and employees hundreds of thousands of people.

March 31st, 2009 NEW DELHI - The auto sector has no scope for any further price reduction, according to TVS Motor chairman and managing director Venu Srinivasan, the newly-elected president of industry group Confederation of Indian Industry (CII). 'The auto sector is among the worst-hit sectors and the higher interest rate has further hit the profit margins of auto companies,' Srinivasan told reporters after taking over as CII chief Tuesday.

March 19th, 2009 CHANDIGARH - The Confederation of Indian Industry (CII) Wednesday called for comprehensive growth of the entire northern region and urged consistency in subsidies and incentives for all states. 'Our motto for the year 2009-10 is 'Building North for Tomorrow'.

February 23rd, 2009 NEW DELHI - Industry lobby Federation of Indian Chambers of Commerce and Industry (FICCI) Monday urged the government to set up a separate export promotion council (EPC) for India's automotive industry to help it achieve higher share in the global market. 'A separate EPC with the primary objective of helping the Indian auto sector to achieve 5 percent share in global trade in the next 10 years needs to be created,' the chamber said in a statement.

February 3rd, 2009 THIRUVANANTHAPURAM - Chief executives of Technopark companies here Wednesday asked the Kerala government to announce a stimulus package for the state's IT industry, which has been hit hard by the economic slowdown. The Group of Technopark Companies (GTECH), a body representing the CEOs of the companies in Technopark, expected hope that the government would come up with some sops for the industry in the next state budget, to be presented later this month.