After showcasing the yet-to-be-named car (Ratan Tata calls it "the people's car") in the capital, the company is planning a similar splash at the Geneva Motor Show in March, a company spokesman confirmed.
Companies, which are jumping into the bandwagon, include MNCs. For instance, the world's leading component company Bosch has committed an investment of Rs 2,650 crore (Rs 26.50 billion) through four subsidiaries in India. Funds will be used to set up manufacturing facilities for gasoline systems, electronic control units and ABS systems.
The ongoing credit squeeze in the sluggish two- and three-wheeler markets may affect the March sales targets of the three leading domestic players in the country. Taking the cue from a buoyant FY07 where the two-wheeler industry grew by a healthy 11.42 per cent, companies such as Hero Honda, TVS Motors and Bajaj Auto were hoping to surpass the FY07 target of 7.8 million units this year.
The industry will see as many as 24 new launches in 2008, from 14 car makers across the country, with nearly all of them being unveiled at the upcoming Auto Expo in New Delhi. New model releases from the top three manufacturers will include Tata's much awaited 'One lakh car' concept (almost production ready), new compact car Indica, mid-sized car Indigo and the Sumo multi-utility vehicle.
The Tata-Fiat combine's plant at Ranjangaon, Maharashtra, may see huge capacity additions as new models line up to go under production at the site.
The country's second-largest commercial vehicle maker, Ashok Leyland is pitching for an aggressive drive through the bus segment as work on newer projects for the segment picks up pace at the company's research centre.
Taking a cue from heavyweights such as BMW, Mercedes and Audi, Ford Motor Company-owned Volvo Car India may use the parents' India facility in Chennai to manufacture and assemble some of its products, reducing their prices substantially.
On the sidelines of the opening of its Mumbai showroom, Deesch Papke, managing director, Porsche Middle East and Africa, spoke about the company's India plans to Business Standard.
The deal size ranges from $200 million to $300 million. The 27-year-old S P Metal Forgings has been a large exporter to Europe, the UK and Israel for over three years. It provides parts for BMW, Peugeot and Renault and also services the after-market and non-automotive companies.
US automobile manufacturer Ford is studying the feasibility of launching a compact car in India that will be imported as a completely-knocked-down kit from a manufacturing hub in Thailand.
Cars from Infiniti are priced in the range of $34,000-$52,000 (Rs 16 lakh to Rs 21 lakh) in the US market.
Honda, Toyota, Volkswagen stitch plans for country-specific mall car models. With India increasingly becoming the production and sales hub for all major car manufacturers, international giants like Honda, Toyota and Volkswagen are pulling out their drawing boards for an all-new India-specific car model.
Germany's Daimler AG, known for its luxury cars and high-end commercial vehicles, has pulled out of the race to acquire a strategic stake in the Delhi-based commercial vehicles maker Eicher Motors.
Hyundai Motors India hopes to export over 250,000 cars next year from India, twice this year's number. Yet, Managing Director H S Lheem said this performance will not be without its problems. In fact, ebullient exports may end up denting the company's bottom line.
Honda Motorcycle and Scooter India (HMSI), Suzuki Motorcycle India (SMI) and Yamaha Motor India (YMI) are building motorcycles and scooters to suit the Indian market. The models will be manufactured at the company's research and development centres in Japan and will use new platforms.
According to the Auto Component Manufacturers Association, the apex body of component makers in India, global sourcing of components from the country will double from $2.95 billion to $5.9 billion in 2008-09, and is slated to hit $20 billion in seven years.
Eicher had announced in July this year that it was interested in an alliance or a strategic partnership to become a full-range commercial vehicle player. It currently makes light and medium trucks. MIL makes only heavy trucks.
Rapid growth in the automobile industry has seen the market share of fake spare parts more than treble from 12 per cent to as much as 37 to 47 per cent in the past seven years.
Japan's Kawasaki Motors plans to tap long-time partner Bajaj Auto's vendors for putting together its high-end motorcycles for the global market.
Carmaker Skoda India has decided to price Fabia, the hatchback it plans to launch at the Auto Expo in January, in the range of Rs 5-6 lakh.
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