Budget 2018-19

  Companies sold a total of 18,615,588 of automobiles in FY21, lowest since FY15: Association. India’s total  automobile  sales fell year-on-year by 13.05 per cent to 41,289,28 units as the economy reeled under the impact of the Covid-19 pandemic, data from an industry association showed. Overall volume in the domestic market, which was dragged down by two-wheelers, pushed the industry back by six years, said the Society of Indian Automobile Manufacturers (SIAM) on Monday in its annual sales data. FY2020-21 was one of the worst years for the industry that reported sales in each segment touching multi-year lows. With sales of 2,711,457 units in the domestic market, the passenger vehicles touched a six-year low. Similarly, with a volume of 15,119,000 units, motorcycle and scooter sales in the domestic market, was pushed back to the FY15 volumes. Three wheelers with unit sales of 216,000 were battered the most as volumes got dragged to a 19-year low. The commercial vehicles ...

  Ford took a $799 million impairment charge in 2019 in anticipation of the asset transfer to Mahindra to account for what it called fair value less cost to sell Ford Motor Co. is reversing plans to cede most of its Indian operations to Mahindra & Mahindra Ltd., deciding to pull out of a proposed joint venture and continue its standalone business in the country. The companies agreed to terminate the venture after reassessing in part due to the global coronavirus pandemic, they said Thursday. The decision ends a deal reached more than a year ago under which Ford was expected to fold its local operations, including two factories, into a JV that would be majority-controlled by Mahindra, a leading Indian manufacturer of sport utility vehicles. The future of Ford’s business in India is unclear as it has struggled for more than two decades to grow in the world’s fourth-largest  auto market . “The company is actively evaluating its businesses around the world, including in India,...