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Budget 2021 will push 6 8 million vehicles to fitness tests, possible scrappage

unfit vehicles. The BSE Auto Index surged nearly 950 points after FM Nirmala Sitharaman announced the voluntary vehicle scrappage policy to phase out old automobiles. The policy will retire cars older than 20 years and commercial vehicles older than 15 years. The policy promises to help infuse fresh investments worth ₹10,000 crore and add 50,000 new job opportunities.At the Union Budget 2021 today, the Finance Minister Nirmala Sitharaman announced the much-awaited vehicle scrappage policy to phase out 6.8 million old and unfit vehicles. The policy promises to help infuse fresh investments worth ₹10,000 crore and add 50,000 new job opportunities. While addressing the parliament, Sitharaman said that the Road Transport and Highways Ministry would share the details soon.

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Automotive sector welcomes vehicle scrappage policy

Union Budget 2021 | Automotive sector welcomes vehicle scrappage policy Updated: Updated: Industry leaders expect it to boost demand for new vehicles, help environment Share Article AAA Vehicles would undergo fitness tests in automated fitness centres after 20 years in case of personal vehicles (PV), and after 15 years in the case of commercial vehicles (CV). File Photo. Industry leaders expect it to boost demand for new vehicles, help environment Leading players in the Indian automotive sector have welcomed the Centre’s move to separately announce a voluntary vehicle scrapping policy to phase out old and unfit vehicles. While tabling the Union Budget for 2021-22,

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Top 20 models drive over 74% of India s car sales

(Representative image) CHENNAI: Two consecutive years of low sales, first due to an economic slowdown and then the pandemic, has created a ‘winner takes it all’ situation in the car and SUV market. The top 20 models sold between April and November comprise 74.1% of all passenger vehicle sales in India, up from 70% in 2015-16 and 69% in 2016-17. In 2017-18, the top 20 passenger vehicles commanded 69.4% of the market, which increased to 72% in 2018-19 and hit 73% in 2019-20. “When consumption is under pressure, customers tend to experiment less and go with established brands and models, which explains this phenomenon,” said Maruti Suzuki executive director Shashank Srivastava.

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Top 20 models drive over 74% of India s car sales in Apr-Nov, up from 70% in 2015-16

ET Auto NEWS Powered by Top 20 models drive over 74% of India’s car sales in Apr-Nov, up from 70% in 2015-16 SECTIONS Top 20 models drive over 74% of India’s car sales in Apr-Nov, up from 70% in 2015-16By Share Synopsis Interestingly, the contribution of the top 10 models has not varied much, remaining between 48-49%. It was 49% in 2019-20 and dipped to 48.7% in the April-November period this year. Auto consultants say the winner-takes-all trend has been visible in many consumer sectors as well. (This story originally appeared in on Dec 28, 2020)Chennai: Two consecutive years of low sales, first due to an economic slowdown and then the pandemic, has created a ‘winner takes it all’ situation in the car and SUV market. The top 20 models sold between April and November comprise 74.1% of all passenger vehicle sales in India, up from 70% in 2015-16 and 69% in 2016-17.

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Automotive firms will need to realign supply chains, says EY India report

Automotive firms will need to realign supply chains, says EY India report
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