rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » 2012: A year of gloom and doom for auto sector

2012: A year of gloom and doom for auto sector

Last updated on: January 11, 2012 08:33 IST

2012: A year of gloom and doom for auto sector

     Next

Next
Sharmistha Mukherjee in New Delhi

The 50-odd launches and unveilings at the Auto Expo are unlikely to lift the gloom off the domestic automobile industry, which has been battling declining sales for six months.

Click NEXT to read more...


Image: Bajaj RE60.

Tags:

     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Major automobile manufacturers expect single-digit growth rate in the 2012 financial year.

Even as passenger vehicle-manufacturers are debating whether the current financial year would see a fall in sales numbers, the outlook does not look favourable for 2012 either.

Click NEXT to read more...



Image: DeZir concept.

Tags:

Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Nissan Motor Company says the domestic market will decline marginally - to sell 2.8 million units in the current financial year, as against the 2.9 million clocked the previous year.

Click NEXT to read more...



Image: Nissan Evalia MPV.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Reasons? There are concerns over high interest rates.

"Further, the disruption in production at the country's largest car maker affected sales numbers adversely," according to Gilles Normand, corporate vice-president (Africa, Middle East and India), of the Japan-based entity.

Click NEXT to read more...



Image: Toyota Camry.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Market leader Maruti Suzuki India has, in fact, already sounded the alarm bells.

The company, which accounts for 40 per cent of sales in the domestic market, has said it would not be able to meet sales of 1.27 million it had posted in the last financial year.

Click NEXT to read more...



Image: SUV XA Alpha.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Shinzo Nakanishi, managing director and chief executive officer, says the company's sales will "of course be less" in this year compared to 2010-11. "Because of strikes, we lost about 100,000 units in this fiscal," he adds.

Click NEXT to read more...



Image: Shinzo Nakanishi, chief executive and managing director of Maruti Suzuki, poses with company's new compact SUV XA Alpha car.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

With small car launches off the platter for most companies, significant volumes are unlikely to be generated in the coming months.

As for Volkswagen India, it has yet to schedule any volume models for launch this year.

Click NEXT to read more...



Image: Volkswagen Polo.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

"Only in the second half can we expect the market to revive," notes Neeraj Garg, member of the company's board and director (passenger cars). "This can happen if inflation levels moderate, interest rates come down and fuel prices stabilise. The industry will then post an annual growth of six-seven per cent."

Click NEXT to read more...



Image: Volkswagen Jetta.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     Next
Prev

Next

Hyundai Motor India notes the passenger vehicle market grew less than five per cent in 2011.

Arvind Saxena, its director (marketing & sales), even while reiterating the concerns in the domestic market, says this year "may be slightly better", but growth "is likely to be in single digits".

Click NEXT to read more...



Image: Hyundai Velostar.


Prev     Next

2012: A year of gloom and doom for auto sector

Prev     More
Prev

More

The year 2010-11 saw the passenger vehicle industry growing a scorching 30 per cent, before slipping into the red in July 2011.



Image: Renault Duster.

Tags:

Prev     More
Source: