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<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Aly SongA customer looks at a Buick Regal car at a General Motors auto dealership in Shanghai.</div></div></div><ul class="summary-list"><li>Chinese regulators are considering a 50% tax cut on the nation's auto tax, according to Bloomberg.</li><li>The measure would apply to cars with engines no bigger than 1.6 liters.</li><li>The tax cut would help revive China's auto industry, which has been damaged by an ongoing trade war.</li><li>Watch <a href="https://markets.businessinsider.com/stocks/gm-stock">General Motors</a>, <a href="https://markets.businessinsider.com/stocks/f-stock">Ford Motor</a>, <a href="https://markets.businessinsider.com/stocks/daimler-stock">Daimler</a>, <a href="https://markets.businessinsider.com/stocks/volkswagen-stock">Volkswagen</a> and <a href="https://markets.businessinsider.com/stocks/bmw-stock">BMW</a> trade live.</li></ul>Auto stocks are gaining ground Monday after a report said China is considering cutting the tax levied on car purchases by half to revive its flagging automotive market.The National Development and Reform Commission, China's top economic-planning body, is proposing to <a href="https://www.bloomberg.com/news/articles/2018-10-29/china-regulator-is-said-to-propose-50-cut-to-car-purchase-tax">cut the purchase tax to 5% from 10% </a>on vehicles with engines no bigger than 1.6 liters, Bloomberg reported on Monday, citing people familiar with the matter. The tax cut is aimed at lending support to China's auto industry as the ongoing trade war with the US threatens to slow the Chinese economy and impact the demand for vehicles. The NDRC has submitted a plan but no decision has been made, Bloomberg's source said. "This news is very positive as it removes a large part of the negative sentiment towards the group, driven by China risk," Arndt Ellinghorst, an analyst at Evercore ISI said in a note sent out to clients on Monday. "If China stimulus is confirmed, we expect Auto stocks to show strong positive momentum into year-end."As a result, shares of American and European automakers are rallying. Here is the scoreboard:<ul><li>General Motors (<a href="https://markets.businessinsider.com/stocks/gm-stock">GM</a>): +4.96%</li><li>Ford Motor (<a href="https://markets.businessinsider.com/stocks/f-stock">F</a>): +5.68%</li><li>Daimler (<a href="https://markets.businessinsider.com/stocks/daimler-stock">DAI</a>): +4.24%</li><li>Volkswagen (<a href="https://markets.businessinsider.com/stocks/volkswagen-stock">VOW</a>): +4.46%</li><li>BMW (<a href="https://markets.businessinsider.com/stocks/bmw-stock">BMW</a>): +3.52%</li></ul> <h2>Now read:</h2><ul><li><a href="https://www.businessinsider.com/stock-market-crash-panic-hasnt-peaked-experts-say-its-just-begun-2018-10?r=markets-insider">Panic has yet to peak in this stock market meltdown - here's why Wall Street thinks the crash has only just begun</a></li><li><a href="https://www.businessinsider.com/stock-market-crash-watch-at-bank-of-america-investing-recommendations-2018-10?r=markets-insider">'Crash watch:' Bank of America breaks down why it's still too early to turn bullish - and says where to put your money as market upheaval rages on</a></li><li><a href="https://www.businessinsider.com/stocks-after-earnings-doing-something-unseen-since-tech-bubble-2018-10?r=markets-insider">Stocks are doing something not seen since the tech bubble - and it's a signal the decadelong bull market is on its last legs</a></li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/valentina-tereshkova-first-woman-space-travel-russia-2015-11">The first woman in space almost didn't make it back to Earth and she had to keep it a secret for 30 years</a></h3> <div> </div> </div>

Auto stocks are surging after report says China is considering a 50% auto tax cut

The <keyword id="53232" type="General" weightage="20" keywordseo="BSE-Sensex" source="Orion">BSE Sensex</keyword> crossed the 58,000 mark for the first time in its history on Friday. It has hit a record high of 58,115.69 points. Rise in the global markets lifted the <keyword id="453307" type="General" weightage="20" keywordseo="Indian-indices" source="Orion">Indian indices</keyword>, analysts said. Healthy buying was witnessed in <keyword id="82906" type="General" weightage="20" keywordseo="auto-stocks" source="Orion">auto stocks</keyword>. Around 10.10 a.m., <keyword id="6484188" type="General" weightage="20" keywordseo="Sensex" source="Orion">Sensex</keyword> was trading at 58,050.25, higher by 197.71 points or 0.34 per cent from its previous close of 57,852.54. It opened at 57,983.45 and has touched an intra-day low of 57,937.95 points. The Nifty50 on the National Stock Exchange was trading at 17,292.75, higher by 58.60 points or 0.34 per cent from its previous close. The top gainers on the Sensex were ONGC, Maruti Suzuki India and Titan Company, while the major losers were Hindustan Unilever, HCL Technologies and UltraTech Cement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-patches-a-severe-vulnerability-that-could-have-exposed-your-private-messages/articleshow/85892167.cms">WhatsApp patches a severe vulnerability that could have exposed your private messages</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mukesh-ambanis-reliance-will-create-and-offer-fully-integrated-end-to-end-renewables-energy-ecosystem-to-india/articleshow/85891466.cms">Mukesh Ambani's Reliance will create and offer fully integrated, end-to-end renewables energy ecosystem to India</a>

Sensex hits new historic record as it crosses 58,000 points

Mumbai, May 6 () Equity benchmark Sensex ended 232 points higher after a see-saw session on Wednesday, led by gains in banking, finance and auto stocks despite rising concerns over the country's economic outlook as COVID-19 cases spike. After swinging over 800 points during the day, the 30-share index closed 232.24 points or 0.74 per cent higher at 31,685.75.On similar lines, the NSE Nifty rose 65.30 points, or 0.71 per cent, to finish at 9,270.90.M&amp;M was the top gainer in the Sensex pack, rallying over 5 per cent, followed by Bajaj Finance, HDFC Bank, ICICI Bank, Bharti Airtel and Hero MotoCorp. On the other hand, ITC cracked over 5 per cent. HUL, TCS, Titan and Infosys too ended in the red. According to traders, economic uncertainty due to the COVID-19 pandemic, muted corporate earnings and weak macroeconomic data are keeping investors wary. In India, the death toll due to COVID-19 rose to 1,694 and the number of cases climbed to 49,391, according to the health ministry. Globally, the number of cases linked to the disease has crossed 36.63 lakh and the death toll has topped 2.57 lakh.Meanwhile, bourses in Shanghai, Hong Kong and Seoul settled with significant gains, while those in Tokyo were closed for a holiday. Stock exchanges in Europe were trading on a cautious note in early deals. International oil benchmark Brent crude futures were trading 1.65 per cent higher at USD 31.48 per barrel. On the currency front, the rupee depreciated 9 paise to close at 75.72 against the US dollar. ANS ABMABM

Sensex rises 232 pts; bank, auto stocks jump

ITC, Auto stocks, InterGlobe Aviation and other stocks to watch out for on June 1

New Delhi, Dec 4 () Shares of automakers were trading higher by as much as 3 per cent on Wednesday after some companies announced hiking prices from January on the back of rising input costs. 
Tata Motors' stock gained 3.92 per cent to Rs 163.85 on the BSE. In early trade, it was up 6.07 per cent at Rs 167.65 a unit. 
On the NSE, the scrip was trading 3.16 per cent up at Rs 163.20 apiece. 
Shares of Mahindra &amp; Mahindra (M&amp;M) rose 0.51 per cent to Rs 525.50 on the BSE. On the NSE, the stock registered a gain of 0.41 per cent at Rs 525.05.
The country's largest carmaker Maruti Suzuki India saw its shares fall 0.36 per cent to Rs 7,116 on the BSE and 0.28 per cent to Rs 7,119 on the NSE. 
In early trade, shares of MSI traded higher and rose 0.40 per cent on the BSE. 
Tata Motors on Wednesday said it will increase prices of its passenger vehicles from January, primarily in order to offset impact of upgrading its portfolio to conform to BSVI emission norms. 
 Maruti Suzuki India on Tuesday said it will hike prices of its vehicles from January to offset rising input costs. 
Other car manufacturers such as Toyota, Mahindra &amp; Mahindra and Mercedes-Benz said they are also contemplating a similar move. RUJ
MKJ

Auto stocks mostly higher on price hike announcements

New Delhi, Mar 23 () Auto stocks plunged up to 20 per cent on Monday as companies have suspended their production due to the coronavirus outbreak. Motherson Sumi Systems cracked 20 per cent and Ashok Leyland fell 18 per cent, Maruti Suzuki India (17.02 per cent), Bajaj Auto (13.95 per cent) and Apollo Tyres (13.86 per cent). Shares of TVS Motor Company settled 12.94 per cent down while that of MRF and Eicher Motors dropped 12.34 per cent and 11.87 per cent, respectively, on the BSE. Likewise, Hero MotoCorp declined 11.07 per cent, Tata Motors (9.95 per cent) and M&amp;M (9.06 per cent). The BSE Auto Index tumbled by 13.35 per cent. The country's largest two-wheeler maker Hero MotoCorp on Sunday said it has suspended production at all its sites across the globe until March 31, 2020 in order to safeguard its employees against coronavirus infections. On Monday, Maruti Suzuki India (MSI) said Suzuki Motor Gujarat has suspended production at its Gujarat-based plant to check the spread of COVID-19. Suzuki Motor Gujarat manufactures cars on contract basis for MSI. The company has been informed by Suzuki Motor Gujarat Pvt Ltd (SMG) that pursuant to Gujarat government directive to check the spread of COVID-19 transmission, they are closing their plant operations with effect from B-shift from March 23 through March 25, 2020, as per a regulatory filing. Rockman Industries, the auto components arm of the Hero Group, on Monday said it has suspended all operations at its seven manufacturing facilities till March-end due to coronavirus outbreak. SUM RAM

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Auto stocks are surging after report says China is considering a 50% auto tax cut

Ethel Jiang

Sensex hits new historic record as it crosses 58,000 points

IANS

Sensex rises 232 pts; bank, auto stocks jump

PTI

ITC, Auto stocks, InterGlobe Aviation and other stocks to watch out for on June 1

Rounak Jain

Auto stocks mostly higher on price hike announcements

PTI

Coronavirus: Auto stocks skid up to 20 pc on production suspension

PTI

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