Honda Seil Cars India on Thursday said it would invest Rs 200 crore (Rs 2 billion) in the next two years for indigenisation and aims a hefty over 65 per cent sales growth this fiscal.
Sedans and hatchbacks have both lost market share to SUVs, which now account for more than 50% share of the 4 million-odd-unit PV market in the country.
Honda Siel Cars India is planning to source steel from India for its local operations and is in talks with Tata Steel. A Tata Steel spokesperson confirmed that the companies were in discussions. Currently, Honda sources steel plates from Thailand for its Greater Noida facility. Honda models, like the City and Civic, have 74 per cent localisation, while the newly launched hatchback, Jazz, has 77 per cent local content.
7 Maruti models among top 10 best selling passenger vehicles in April
Such a financial condition had impelled the management to expedite a board resolution for fresh infusion of equity capital through a rights issue.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
Leading automakers Maruti Suzuki India, Hyundai Motor, Kia Motors and Tata Motors reported sales growth in the domestic market in November, aided by robust offtakes amid the festival season. While Maruti Suzuki India reported marginal growth, Hyundai logged in its highest ever monthly sales in November. Others like Honda Cars India, Toyota Kirloskar Motor, Mahindra & Mahindra and MG Motor India also reported sales growth in November as compared with the same month last year.
From discounts to hundred per cent financing to talks of a price hike, companies are doing everything to ensure retail sales pick up this month.
This trend is likely to gain pace with the new infrastructure cess on diesel vehicles.
The radical styling that consists of 17-inch diamond-cut wheel rims and a chrome grill that comes with a sleek coupe-inspired profile -- the kind you'd expect to see in an Acura or a Lexus sports car -- make the Civic one of the best-looking cars on the road today irrespective of price.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
Right now, the 'Lower D' or LD segment -- which the industry defines as a sedan that costs between Rs 1.5 million and Rs 2 million, is longer than 4.5 metres, and powered by an engine of 1.8 litre or larger -- has barely three cars, all of which have been around for over a decade in India. Nevertheless, at least one foreign auto player is looking to bet big on the segment.
According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.
German luxury car maker Mercedes Benz on Friday said it will hike prices of its products across models by up to 10 per cent in India from next month.
Maruti Suzuki's inventory across its dealerships is a 100,000 vehicles at the end of any month. However, it was only 34,000 vehicles at the end of December 2016.
Check out the features and specifications of Honda Amaze.
Here are the best selling cars in the month of October
The price differential has been upwards of 20%.
If Honda is unleashing premium bikes to take on Yamaha, the latter is getting into scooters.
Toyota and Honda of Japan, and the US auto major Ford are ramping up their sales and distribution networks as they gear up to launch small cars.
The company's largest selling sedan 'City' will be cheaper by Rs 19,000-Rs 21,000, while 'Civic' will cost Rs 29,000-Rs 31,000 less, an HSCI statement said. Top-end sedan 'Accord' will be cheaper between Rs 27,000 and Rs 28,000, it added.
Japanese auto major Nissan is recalling around 12,000 units of various models.
Various manufacturers, including Nissan and Honda have also been impacted due to faulty airbags supplied by Takata.
Mercedes sells models ranging from A Class to Maybach, priced between Rs 28 lakh and Rs 1.67 crore.
Passenger vehicle exports from India increased 43 per cent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21. Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent at 2,01,036 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.
Honda Motorcycle is on a roll, launching new motorcycles now and then. The Japanese automaker plans to take the numero uno position from Hero MotoCorp by 2020 in the Indian market and is planing a slew of launches in the coming years. One such motorcycle to be launched in India next year is the Honda CRF250L.
The new Honda Accord Hybrid combines two worlds to offer a fitting blend of power and fuel efficiency.
Dynamics of auto business will change if the government ends diesel subsidy to passenger vehicles.
Despite a rise in input costs, leading car-makers refrain from hiking their price.
Let alone a discount, they might not even get the model, variant or colour of choice in BS-IV-compliant vehicles.
The model will be equipped with a petrol engine in Thailand.
French auto major Renault on Wednesday said it will increase vehicle prices in India from next month to offset the impact of high input costs.
Car-makers in India, who have been witnessing one of the slowest sales growth rates in over two years, said on Tuesday the Reserve Bank of India's decision to hike key rates will deal a further blow, as financing costs will rise.
The Hyundai i20 is the classiest looking vehicle of the three -- the Jazz, while not exactly a bad looker, is a bit plain Jane (but, of course, classicists may prefer this aesthetic, says Aakash S Paul. But if you are on the lookout for a combination of space and sporty performance, the new Honda Jazz is the best-suited car for you.
The Accord Hybrid will be imported through the CBU route to India
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
