Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...

-The Hindu Total vehicle retail sales continue to be on the decline. Total vehicle retail sales in the country continued to decline year-on-year in September 2020, even as passenger vehicle registrations turned positive for the first time since March growing at 9.81% during the month, as per data from the Federation of Automobile Dealers Associations. Total vehicle registrations fell to 13.44 lakh units in September 2020, down 10.24% from about 14.98 lakh units...

-Livemint.com Barring sales of second-hand vehicles and new tractors, the auto industry remains badly hit. Vehicles used for transporting goods are among the worst-hit segments Will the Indian economy recover quickly from the June quarter lows? That’s the trillion dollar question facing investors today. One sector that offers vital clues in this regard is the automobile sector. Vehicle sales are among the key lead indicators of consumption and an important source of...

-The Hindu As output and demand slow, India must retain twin focus on the pandemic and economy Output in the eight core industries suffered an overall contraction for a third straight month in May, shrinking 23.4%, as the pandemic-induced lockdown kept large parts of the economy shuttered, the Commerce Ministry’s provisional figures show. Of the eight, all but one posted declines in production compared with a year earlier, with six sectors witnessing...

-IANS According to Rajan Wadhera, President of industry body Society of Indian Automobile Manufacturers (SIAM), which gives out the auto sales numbers, the overall slump in vehicle sales in India was due to the 'rising cost of vehicle ownership and slower growth in GDP'. Cheaper lending rates in the country along with the government's booster via tax cuts seem to have had little effect on vehicle sales in January, with car sales...