Indian automakers offer teaser loans as RBI softens stance

car manufacturing india

Maruti Suzuki, Hyundai and Mercedes Benz are providing Indian auto buyers “teaser loans”, a move that sources stated came after softening of the central bank’s stance because of a coronavirus-induced economic slump. Although the Reserve Bank of India (RBI) never prohibited teaser loans, which provide low interest rates for a limited period before jumping, its […]

China auto sales mark first gain in nearly 2 years as restrictions ease

china cars

China’s monthly auto sales increased for the first time in nearly two years in April, industry data revealed, as more customers visited showrooms after the economy started to open up and officials eased coronavirus-related travel restrictions. Auto sales in April hit 2.07 million units in the country, increasing 4.4% from a year earlier according the China Association of Automobile Manufacturers (CAAM), […]

Leading Indian automakers had zero sales in April

Indian road traffic

India’s top automakers couldn’t ship a single automobile to dealers in April as they closed production after Prime Minister Narendra Modi announced the world’s biggest stay-at-home restrictions in a bid to stop Covid-19 coronavirus from spreading. Maruti Suzuki India, which produces about half the cars on the country’s roads, and Mahindra & Mahindra, the nation’s […]