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.
Further Audi's rival BMW India is already exploring the second phase of investment in India has made a strong comeback over the last two years, say people in the know. Moreover Volvo Auto India recently started local facility in Bengaluru, Lexus is exploring setting up an assembly facility and the likes of Mercedes Benz and JLR continue to look at the assembly of more models and deeper localization.
Auto majors’ plan to increase investment comes at a time when the market
is slated to grow in double digits for the first time in five years with 2017
sales expected to cross the previous high of 36,000 cars in 2015.
Maruti Suzuki Dzire market share in the entry level segment rose to 63% against 51% 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.
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- Domestic sales of Passenger Vehicles grew up April to November 2017
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- Hike in car prices in India from 2018
- Audi AG is always looking for opportunities to invest and grow
- Auto Companies happy on seeing November sales
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- Will BMW do assemble motorcycles in India?
- Electric buses be launched by JBM Auto after a delay of 12 Months
- Mahindra, Ford extends tie up for making electric vehicles
- TVS Motor confident on betting rural buyers in South
- In next four years, Hero Electric eyes to touch Rs.1000 Crore
- Availability of BS VI fuel in Delhi also gives an opportunity to the vehicle manufacturers
- GST on Automobile industry retained by 28%
- Kawasaki Ninja 650 is available in the market and it's cost will leave a lump in your throat!