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.
Japanese two-wheeler manufacturer HMSI inching closer in Indian motorcycle market New Delhi sources reported that according to the latest data released by Society of Indian Automobile Manufacturers (SIAM), HMSI sold 1,801,390 units in the April 2017-February 2018 period, growing at 19.4%, while Bajaj Auto sold 1,815,590 units in the same period, de-growing at 1.89%.
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- Volkswagen expands production of Electric Vehicles (EVs)
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- US impact India export goods to America
- Renault & alliance partner Nissan discussing plans for a closer tie-up with Japanese car maker
- Honda Cars exports 1.6L Diesel Engine to Thailand
- AP aggressively takes a lead in the country by introducing 1 lakh electric vehicles
- Koda Kodiaq with an AEB system detects pedestrians as well
- Toyota Kirloskar Motors showed gradual increase in February 2018 sales
- Tata Motors says Jaguar Land Rover cannot be listed
- Cess on Automobiles, Rubber been abolished
- Road tax increased for automobile industry
- EESL soon floats another global tender for 10,000 electric vehicles
- American car maker GM winds up its domestic sales
- TVS Motor Company's growth for 2017-18 is up by 10.6%