Hectic efforts are on to get the government to change its mind, with the Federation of Indian Dealers (FADA) trying to meet top officials in the Prime Minister’s Office and various ministers involved in the decision making process. The GST rate rationalisation exercise announced earlier this month was hailed as a major economic reform, applauded… Continue reading Festive cheer cut short? Auto OEMs scale down discounts; dealers cry foul over cess
Author: Economic Times of India Online News
India’s millionaire club swells to 8.7 lakh, nearly doubles in 4 years: Mercedes-Benz Hurun report
MBHX uses GDP growth, Sensex performance, billionaire additions, and Mercedes-Benz sales into a composite measure of wealth creation. India’s growth story is fuelling affluence, with the number of millionaire households almost doubling in four years, according to the Mercedes-Benz Hurun India Wealth report 2025. According to the joint study, India now has 8.71 lakh millionaire… Continue reading India’s millionaire club swells to 8.7 lakh, nearly doubles in 4 years: Mercedes-Benz Hurun report
KSEB eyes AI to curb electrical accidents
Electrical safety audits were conducted in hospitals, commercial establishments and homes across state under the leadership of the electrical inspectorate. KSEB is exploring technological options, including artificial intelligence-based solutions, to avoid electrocutions caused by power lines. Power minister K Krishnankutty informed the assembly on Tuesday that KSEB was planning to make use of technology that… Continue reading KSEB eyes AI to curb electrical accidents
Reddit seeks to strike next AI content pact with Google, OpenAI
Large language models, which underpin OpenAI’s ChatGPT are trained on massive datasets scraped from the internet. Reddit is in early talks to strike its next content-sharing agreement with Alphabet Inc.’s Google, aiming to extract more value from future deals now that its data plays a prominent role in search results and generative AI training. Reddit,… Continue reading Reddit seeks to strike next AI content pact with Google, OpenAI
India’s energy transition should be embedded in overall development strategy: Bery
“Grid designing and grid financing are going to be a big deal…India should try low-cost production of EVs and solar panels,” he added. Niti Aayog Vice Chairman Suman Bery on Wednesday said India’s energy transition should be embedded in the overall development strategy of the country. Addressing a session at ‘FT Live Energy Transition Summit… Continue reading India’s energy transition should be embedded in overall development strategy: Bery
China is sending its world-beating auto industry into a tailspin
Chinese electric vehicles start at less than $10,000; in the U.S., automakers offer just a few under $35,000. On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50 per cent off. A… Continue reading China is sending its world-beating auto industry into a tailspin
China’s car glut fuels fire-sale discounts, gray markets and auto graveyards
These deals are offered by a company called Zcar, which says it buys in bulk from automakers and dealerships. On the outskirts of this city of 21 million, a showroom in a shopping mall offers extraordinary deals on new cars. Visitors can choose from some 5,000 vehicles. Locally made Audis are 50 per cent off.… Continue reading China’s car glut fuels fire-sale discounts, gray markets and auto graveyards
US to consider new national security tariffs on auto parts
US President Donald Trump The US Commerce Department said Tuesday it will consider industry requests to impose tariffs on additional imported auto parts in the coming weeks on national security grounds. In May, Trump imposed 25 per cent auto tariffs on more than $460 billion worth of imports of vehicles and auto parts annually, but… Continue reading US to consider new national security tariffs on auto parts
US manufacturing output unexpectedly rises on rebound in motor vehicle production
Motor vehicle and parts production rebounded 2.6 per cent last month after declining 0.7 per cent in July. US factory production unexpectedly increased in August amid a rebound in the output of motor vehicles and some nondurable goods, though tariffs continued to cast a shadow over the manufacturing sector. Manufacturing output rose 0.2 per cent… Continue reading US manufacturing output unexpectedly rises on rebound in motor vehicle production
Banks see car loan cancellations as customers await GST-driven price drops
Menon stated that the tax cut is expected to widen mobility access and inject fresh momentum into the automotive sector during the upcoming festive season. As the date for the implementation of Goods and Services Tax (GST) rate cut comes close, many potential vehicle buyers deferred purchases in anticipation of lower prices. Not only the… Continue reading Banks see car loan cancellations as customers await GST-driven price drops