India: Indian auto industry lost Rs 450 cr in 2008: Public sector banks, Indian auto industry, Tata Motors, GM India, Hyundai Motor India, Hero Honda, Swaraj Engines

The year 2008 wasn’t one that the auto industry would like to remember having lost Rs.450 cr.! Inventory pile ups, declining sales and unavailability of credit has compounded the problems. The industry is lobbying for incentives from the government to encourage vehicular sales and large scale investments. Amidst the gloom, Maruti has started export of the A Star.

- Chillibreeze Business Research Team

Trends
Public sector banks rule out rate cut on auto loans
Indian auto industry lost Rs 450 cr in 2008
Car prices likely to go up in 2009
Tata Motors says auto industry wants incentives, not crutches

Cars
GM India cuts production by 10%;extends annual plant closure
It’s raining discounts and freebies in Motown
Hyundai Motor India to cut production from Monday
Maruti begins exporting new small car to Europe
Tax cut pays, car sales on fast track
UK's biggest trade union bats for govt bailout for Tata'a JLR

Two Wheelers
Hero Honda riding strong on difficult economic terrain
Boost domestic demand: Bajaj

Others
Auto parts companies see marginal growth in exports
Maruti Suzuki to train 5 lakh drivers in 3 yrs
Auto parts makers seek govt support
Auto, durable firms seek short-term deals for steel
Swaraj Engines to slow down manufacturing activities