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UK auto sector worst hit as Q2 exports fall | Automotive Industry News

The automotive sector was amid the worst afflicted spots as United kingdom production exports fell sharply in Q2 2020, according to the Lloyds Lender International Trade Index.

The pace of decline was the quickest due to the fact details collection began in 1996, pushed by the effects of coronavirus on both of those international source chains and slipping overseas need for British goods and providers.

The index hit a new very low of 34.six for new production exports between April and June 2020, representing a dramatic decline from 46.8 in Q1 2020. The previous historic very low of 38.8 was

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Strong revival gives two-wheeler makers hope to recover lost volumes, Auto News, ET Auto

Ratings firm ICRA had forecast the two-wheeler market to decline 11-13 pc in FY-21, while Ind-RA had projected it to shrink 20 pc.
Ratings company ICRA had forecast the two-wheeler marketplace to decline 11-thirteen laptop in FY-21, whilst Ind-RA had projected it to shrink 20 laptop.

Mumbai: Hero MotoCorp and Bajaj Auto are hopeful of recovering the profits misplaced through the lockdown in the rest of the fiscal calendar year, as the country’s leading two motorbike makers are surprised by a brief bounce back in desire.

A sharp pickup in desire for particular mobility has meant the two Hero and Bajaj are by now planning to ramp up manufacturing to pre-Covid concentrations. Some two-wheeler makers are, in point, on the lookout to enhance

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RBI seeks internal car loan investigation details from HDFC bank, Auto News, ET Auto

The vehicle financing unit had outstanding loans of nearly Rs 1.2 lakh crore ($16 billion) as of June 30.
The motor vehicle financing unit had superb financial loans of just about Rs 1.2 lakh crore ($16 billion) as of June thirty.

New Delhi: India’s banking regulator has asked HDFC Lender to offer specifics of an inside investigation into allegations of improper lending practices in its motor vehicle-financing operation, according to people today common with the matter.

The Reserve Lender of India is also trying to find details on ways taken by HDFC Lender to solution any challenges determined throughout the investigation, the people today additional, inquiring not to be named as the details is not public.

A spokesman for

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E-invoicing of GST compulsory from Oct 1, with higher threshold, Auto News, ET Auto

The e-invoicing will be mandatory only for businesses with turnover of Rs 500 crore or more.
The e-invoicing will be required only for companies with turnover of Rs 500 crore or a lot more.

New Delhi: The federal government proposes to roll out obligatory e-invoicing of GST from October one, but has made a decision to raise the threshold to exempt scaled-down entities from this compliance, an official claimed on Thursday.

Appropriately, e-invoicing will be required only for companies with turnover of Rs 500 crore or a lot more. These, on the other side of the threshold, will be exempted from the compliance stress, for the time remaining.

The threshold for required e-invoicing, a action to

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Hero MotoCorp invests Rs 84 crore in Ather Energy, Auto News, ET Auto

With the current update, Hero MotoCorp's shareholding in Ather Energy grows to 34.58 percent.
With the present update, Hero MotoCorp’s shareholding in Ather Power grows to 34.fifty eight p.c.

New Delhi: Two-wheeler manufacturer Hero MotoCorp announced on Friday that it has invested Rs 84 crore (US$11million) in Bengaluru-primarily based electric powered scooter startup Ather Power.

Hero MotoCorp has been a component of Ather’s development story considering that 2016, when it to start with invested as a component of Series B funding, and the company’s shareholding in the EV startup was 31.27 p.c.

With the present update, Hero MotoCorp’s shareholding in Ather Power grows to 34.fifty eight p.c.

Rajat Bhargava, Head of Rising Mobility Small

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