Millennial mindset of using Ola, Uber is adversely affecting auto sector: FM

11 Septembre, 2019, 01:27 | Auteur: Auguste Feret
  • What’s causing auto industry slowdown? Millennials, among other things: FM Sitharaman

Describing abrogation of Article 370 as a path breaking decision of the Centre, Union finance minister Nirmala Sitharaman on Tuesday said the Congress should speak in one voice on Jammu and Kashmir and matters of national security.

The fitment committee, comprising state and central officers, met last week and estimated that of the overall sum, Rs 22,000 crore will be lost if the rate is cut for auto parts alone. She listed out switch over to BS VI emission norms and registration fee related matter (which the government postponed later) as reasons for the auto sector slowdown.

Being in the automobile capital, Chennai, the minister when peppered with questions on the slowdown in the sector, said to be the worst in almost two decades, said, "It is true that the automobile sector in India had a good time till two years ago, there was definitely a good upward trajectory for automobile sector".

"Some studies do tell us, the mindsets of the millennials, who are now preferring not to commit an EMI towards buying an automobile instead would prefer to have Ola or Uber or take the metro", she said. Overall passenger auto sales dropped by a significant 31.57 per cent last month with 196,524 units sold compared to 287,198 units in August 2018. The percentage sale of two-wheelers is at a three-year low.

The sector slowdown has led to companies resorting to production cuts even as many dealers have laid off employees or shut shop themselves.

L'Algérie s'est imposée difficilement contre le Bénin — Match amical
Dans l'ensemble, les Béninois ont livré une rencontre de prestige face aux champions d'Afrique. Le Bénin et la Côte d'Ivoire se sont affrontés cet après-midi pour le compte des journées FIFA.

La nouvelle Ligue des champions attendra
Lundi 9 et mardi 10 septembre avait lieu à Genève l'assemblée générale de l'Association européenne des clubs (ECA ). Une évolution inacceptable pour nombre de clubs et de ligues, dont la Premier League anglaise.

U.S. says Iran's failure to address IAEA concerns 'unacceptable'
It says IAEA inspectors later verified the installation of advanced centrifuges at a nuclear facility in Natanz in central Iran. On September 9, Trump told reporters that a meeting with Rohani "could happen".

"We are working with all the sectors across the country to understand the problem and taking measures also". Automobiles purchased till March 31 next year can avail the benefit of additional depreciation of 15 per cent with total depreciation up to 30 per cent.

"It is useful for us to remember that dips and raises in GDP growth happens".

Responding to the criticism of the government accessing the accumulated reserves of the Reserve Bank of India, she said it had been accessed by the governments in the past too.

Finance MinisterNirmalaSitharaman today shrugged off questions on the GDP growth declining to 5 per cent in the first quarter, saying the ups and down are part of the growth process and the government is responding to the current economic challenges to revive demand and consumption in the country.

Conseillé:

  • Jean-Yves Le Drian exclut tout report du Brexit

    Jean-Yves Le Drian exclut tout report du Brexit

    Interrogé sur le risque d'un chaos en Algérie, le ministre français a répondu: "pour l'heure, la maturité est au rendez-vous". La ministre française de la Défense Florence Parly à Moscou le 9 septembre 2019.
    Duty-free shopping to return under no-deal Brexit: UK chancellor

    Duty-free shopping to return under no-deal Brexit: UK chancellor

    Members of Parliament (MPs) were expected to vote against another call by Johnson for a snap general election on Monday. He wants an election to break the deadlock. "There is a way of getting a deal but it will require a lot of hard work".
    Felicity Huffman accusée de fraude : l'actrice risque un mois de prison ferme

    Felicity Huffman accusée de fraude : l'actrice risque un mois de prison ferme

    Elle a notamment raconté qu'au début de sa carrière, Felicity avait été présente pour la soutenir dans une période difficile. Elle m'a ensuite expliqué à quel point j'étais talentueuse et à quel point je n'avais pas besoin d'un prix pour le savoir.
  • Netanyahu announces post-election plan to annex Jordan Valley

    Netanyahu announces post-election plan to annex Jordan Valley

    Annexing settlements would likely spell the end of any lingering hopes of establishing a Palestinian state alongside Israel . The map appeared to show Israeli territory completely encircling the West Bank, slicing off the eastern border with Jordan.
    Kim Kardashian 'tests positive' for lupus

    Kim Kardashian 'tests positive' for lupus

    I got myself out of it, but it was really scary to have to go through that". "I woke up and my hands were stiff", she told him. As an autoimmune disease, the body's defence system produces antibodies that attack its own tissues causing inflammation.
    Trump limoge son conseiller à la sécurité nationale

    Trump limoge son conseiller à la sécurité nationale

    Donald Trump a annoncé mardi, d'un tweet, le limogeage de son conseiller à la sécurité nationale John Bolton . Le président américain était en désaccord avec lui sur nombre de dossiers, de l'Iran à la Corée du Nord.
  • Le Real Madrid avait gardé une belle enveloppe pour Neymar — PSG

    Le Real Madrid avait gardé une belle enveloppe pour Neymar — PSG

    Le PSG et le Sporting n'ont qu'à bien se tenir. " Je veux recruter les meilleurs, mais quand c'est possible ". Le Real Madrid disposait de 155 millions d'euros pour recruter Neymar (27 ans), lors du mercato estival.
    Commons Speaker pays tribute to sincerity of DUP MP’s faith

    Commons Speaker pays tribute to sincerity of DUP MP’s faith

    Bercow said he would not contest the next election if parliament voted later on Monday in favour of calling one. Mr Bridgen continued: "This is a zombie Parliament, full of zombie politicians, including a zombie Speaker".
    Sergio Ramos praises Gareth Bale's impact at the Bernabeu

    Sergio Ramos praises Gareth Bale's impact at the Bernabeu

    Real Madrid captain Sergio Ramos labelled Gareth Bale a "great player" and backed his team-mate after a hard off-season. For a while now, Real Madrid's Gareth Bale has been in the new for his lack of form.
  • Germany defeat N Ireland to restore Euro 2020 order

    Germany defeat N Ireland to restore Euro 2020 order

    Azerbaijan, coached by Croatian Nikola Jurcevic, remain rooted to the foot of the table. Germany leads the group standings after edging to a nervy 2-0 victory in Belfast .
    Raiders corner (neck) ‘going to be OK’ after stretchered from field

    Raiders corner (neck) ‘going to be OK’ after stretchered from field

    Trainers were working on Conley for several moments before putting him on a stretcher and carrying him out of the stadium. He left the field on a backboard and gave a thumbs up to the crowd upon departing.
    Brexit: Boris Johnson's election bid was voted down, so what next?

    Brexit: Boris Johnson's election bid was voted down, so what next?

    Johnson acknowledged Monday that a no-deal Brexit "would be a failure of statecraft" for which he would be partially to blame. A small scuffle ensued as an opposition MP attempted to keep Bercow from a ceremony that officially closes Parliament.


Populaire

Kapoor's Ganesh Utsav: Taimur, Yash And Roohi's traditional outfits are stealing all the thunder
Kareena and Karisma's mother Babita can be seen posing with sister-in-law Rima Jain (Armaan Jain's mother) in the photo. Besides him, Karan Johar's daughter Roohi and Karisma's son Kiaan, were also present to give the little fella company.

Foreign Secretary condemns Iran over Adrian Darya 1 oil tanker
The ship was photographed off the coast of on Friday and is believed to have been carrying 2.1 million barrels of Iranian crude oil.

Vaping Death toll rises to five due to mysterious lung disease
Whether the oils in the lungs came from the e-cigarettes, the body, or somewhere else entirely, is up for debate. The trouble is that no single device, liquid or ingredient has been tied to the illnesses, officials said.

Iranian soccer fan 'Blue Girl' dies after setting herself on fire
Women are banned from soccer stadiums in Iran , though they are allowed to attend some other sports games, including volleyball. The stadium ban has not been written into law or regulation, but it has been performed by this Asian country.

Mort de Steve Caniço: un téléphone au coeur de l'enquête
Steve Maia Caniço , 24 ans, a disparu le soir de la Fête de la musique au cours d'une soirée sur l'île de Nantes. Contactée par l'AFP, l'avocate de la famille Caniço a estimé que cette découverte confortait ses convictions.

President-elect unveils new EU Commission team
As the Internal Market Commissioner, Sylvie Goulard will lead work on industrial policy and promote the digital single market. Now it is up to the European Parliament to question the proposed candidates for the new Commission in detail.

Labour's Corbyn offers support hailing courage of Belfast shipyard workers
He will say: "The only way to break the Brexit deadlock once and for all is a public vote in a referendum". The consequences are stark for all workers, whether members of a trade union or not.

Jean-Marie Bigard : Sa nouvelle réponse cash à Muriel Robin
Il revient aussi sur les propos de Muriel Robin au sujet de sa fille: "Ma pauvre Muriel, tu as perdu tout le sens des réalités". Des propos qui ont évidemment choqué la principale concernée lorsqu'elle les a découverts sur le plateau de C à Vous .

Ex-FEMA officials, contractor accused of Puerto Rico hurricane relief fraud
In return, Tribble pressured FEMA and the Puerto Rico Electric Power Authority to steer work to Ellison's firm, prosecutors say. Charges filed against Tribble and Ellison include conspiracy to commit bribery, honest-services wire fraud and disaster fraud.

United Nations rights chief Michelle Bachelet mentions Kashmir, NRC
And they actually said, 'Would you like to be a mediator or arbitrator?' I said, 'Where?' (Modi said) 'Kashmir. Its interesting to know India sent a diplomat from who hails from Jammu and Kashmir to respond Pakistan FM.