New Delhi sources have stated that country's largest car maker Maruti Suzuki may have a plethora of products from entry level hatchback to a crossover but only a few products have been made it to the top and stood like the pillar in the overall growth of the company.
Germany’s Audi Chief executive Rupert Stadler said, in a sign of confidence that the car maker expects to be able to carry the costs of its transformation. Further Audi, which owns Ducati and Italian super car maker Lamborghini, last month reported higher operating profit and revenue for the first nine months, helped by growing auto demand in the higher-margin western European and U.S. markets.
New Delhi sources have stated that the automobiles industry had produced a total 19,486,412 vehicles, including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April- November 2017, against 17,818,193 in April-November 2016, registering a growth of 9.36% over the same period last year.
New Delhi sources have stated that Gujarat, West Bengal, Uttar Pradesh, Rajasthan and Maharashtra have emerged as the top 5 states in electric vehicle (EV) sales. The Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday that an SMEV survey of EVs sold during the last fiscal showed that 1,926 of these were sold
New Delhi sources have stated that cars are set to get costlier in January with several manufacturers planning to raise prices across models to absorb the impact of rising input costs. However, the country’s two biggest car makers Maruti Suzuki and Hyundai Motor India said they didn’t plan to increase prices as of now.
Mumbai sources have reported that foreign luxury car makers are planning to step up investments in India as they eye a record sale of high end cars this year despite the mid-year hike in tax that temporarily disrupted volumes. Meanwhile the Volkswagen group is setting up a new engine assembly line in Aurangabad at Skoda Auto’s factory to locally produce 3 litre diesel engines, apart from localizing 2-litre diesel engine in Chakan factory.
New Delhi sources have stated that after experiencing a marginal decline of 1.79% across the spectrum of automotive segments in October 2017, mainly due to stock corrections on account of the ongoing festive season, the industry seems to be finding its feet again and coming back on track.
New Delhi sources have stated that the transport ministry has diluted its earlier stand for mandatory air-conditioned cabin in trucks for drivers after receiving objections from automobile manufacturers. Currently the manufacturers will have option of either fitting an air-conditioning system for the cabin or with the truck cabin ventilation system in all new trucks to be manufactured from next January.
Mumbai sources have stated that BMW Motorrad is exploring assembly of its motorcycles in India to make those more accessible to local customers, as the German company aims to play a bigger role in the growing superbike market here. Meanwhile besides its plan to source a locally manufactured 310cc bike from TVS Motor, the luxury bike maker is also considering the possibility of importing from Thailand to take advantage of tax sops.
New Delhi sources have stated that JBM Auto launch its first fully electric bus EcoLife at the Auto Expo 2018. The electric bus project will take off after a delay of almost 12 months, as earlier the launch was slated within a year of its first unveiling at the Auto Expo 2016.
New York sources have reported that Chairman Anand Mahindra said Ford Motor and its Indian partner Mahindra & Mahindra could create their own electric car line in the country to help battle pollution from the vehicles clogging India’s roads, Mahindra & Mahindra, which already sells the e2o micro electric car, would be open to creating a new electric vehicle line in India with Ford, Mahindra said following the opening of a factory in Auburn Hills, Michigan, to produce an off-road vehicle for the
According to sources the TVS Motor Company, India’s fourth-largest two wheeler maker, is banking on rural buying in south India to sustain its double-digit growth momentum and plans to invest Rs 600 crore to expand its product range and distribution network. The demand for the brand remains strong, the company said, with retail volumes growing over 20% during Dussehra and Diwali and the momentum are expected to continue.
New Delhi sources have stated that the Naveen Munjal led Hero Electric is planning to touch Rs 1,000 crore revenue in next four year. The Delhi based electric vehicle manufacturer is aiming to double revenue every year. The company closed its past FY17 at Rs 50 crore. Sohinder Gill, CEO
New Delhi sources have stated that SIAM the announcement of the Petroleum Ministry for introduction of BS VI Gasoline and Diesel Fuel in the National Capital Territory of Delhi from April 2018, instead of April 2020. The Auto industry also welcomes the Ministry’s tentative plan to extend availability of BS VI fuel across the National Capital Region (NCR) from 1st April 2019.
New Delhi sources have stated that the Union Finance Minister Arun Jaitley on Friday announced that Goods & Service Tax (GST) on automobiles will be retained at 28%. At the same time, the minister announced several other changes in the GST structure that will help improve the market sentiment further. Rakesh Srivastava, Director Sales & Marketing, Hyundai Motor India