Ford to launch new compact car Figo Aspire in India
As per SIAM data, vehicle sales across categories, including passenger vehicles and two-wheelers and commercial vehicles stood at 18,21,490 units last month as against 23,82,436 units in August 2018, a fall of 23.55 per cent.
General Motors India Vice President P Balendran termed the decision as a positive move for the overall economy.
Auto sector cheers RBI rate cut as 'festival gift'
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
Maruti Suzuki and Hyundai would make the largest gain.
Maruti Suzuki, Hyundai and Mahindra failed to register significant growth.
Tata Zica was designed by an international team resulting in a more modern look.
Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
Japanese car major Nissan on Tuesday said will hike the prices of its vehicles, including hatchback Micra and sports utility vehicle Terrano in India, by up to 4 per cent from next month in order to offset the impact of rupee depreciation and escalating input costs.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Tesla Inc, the world's largest electric car producer, is looking to make a significant investment in India, said its chief Elon Musk, who saw India as holding more promise than any other large country around the globe. Musk, after meeting Prime Minister Narendra Modi, said he plans to visit India in 2024. "I am confident that Tesla will be in India and we will do so as soon as humanly possible," Musk told reporters after the meeting.
RBI's interest rate decision, macroeconomic data and global trends would dictate terms in the equity market in a holiday-shortened week, analysts said. Besides, the focus will also be on foreign portfolio investors' trading activity, they added. Equity markets will remain closed on Tuesday for 'Mahavir Jayanti' and on Friday on account of 'Good Friday'.
These companies join the likes of other global firms Hyundai, Suzuki, Toyota, KFC, and Pizza Hut which have also apologised for social media posts by their business associates in Pakistan supporting Kashmir Solidarity Day following backlash in India and call for boycott of their products.
The new year will see a line of hatchbacks (including compact SUVs) hit the Indian roads. Rajesh Karkera/Rediff.com offers a peek.
The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
Japanese auto major Nissan on Wednesday said it is discontinuing Datsun brand in India, nine years after the company kicked off the marque's global relaunch in the country. Having failed in its ambitious global relaunch of Datsun, Nissan had in 2020 discontinued the brand in Russia and Indonesia, the other two countries along with South Africa and India which were marked as key markets targeting the entry level car segment. Confirming the move to discontinue the Datsun brand, Nissan India in a statement said, "Production of Datsun redi-GO has ceased at the Chennai plant (Renault Nissan Automotive India Private Ltd). "Sales of the model still continue (till the stock lasts)."
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
It was only an exterior launch, not the actual car, but what he saw left Rediff.com's Rajesh Karkera hugely impressed.
Auto major Mahindra & Mahindra on Friday said it will hike the prices of its passenger cars and commercial vehicles by Rs 6,000 to Rs 20,000 from October 1, partly to offset higher input costs and depreciation of rupee against the dollar.
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.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
The model, which will compete with the likes of Hyundai Verna, Maruti Suzuki Ciaz and Skoda Rapid, now features smart devices ecosystem including Alexa remote capability and 32 connected features as standard feature across all variants with a five-year free subscription.
Maruti Udyog Ltd, India's largest carmaker, unveiled on Thursday a new-look Zen, without tinkering with the price, to take on competition posed by Hyundai's Santro and Tata Motors' Indica.
Fiat India Automobiles Ltd, a 50:50 joint venture between Italy-based Fiat SpA and domestic auto major Tata Motors, plans to position the car in the premium hatchback segment along with Maruti Suzuki's Ritz, Hyundai's i20, Skoda's Fabia and to be launched Honda Siel's Jazz, the company said.
Urban and rural FMCG sales growth data for the last five quarters show the latter outperformed the former consistently.
India has already pipped Japan as the world's third-largest oil consumer.
Maruti Udyog Ltd has been rated the 'most trusted' passenger car company of the country, according to a survey by global research firm TNS.
India's biggest carmaker Maruti Udyog Ltd will launch a new Zen compact car on November 27.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore
According to experts, Tata Tiago JTP and Tigor JTP -- a sedan and hatchback -- are not only powerful and faster than every other car in the segment, but also in the segment above, including their peers Maruti Baleno RS, Volkswagen Polo and others.
The hatchback has been priced strategically at a notch above the Nano and way below the Tata Bolt.
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
The trouble is largest FDI projects in India have had a tragic history.
Rather than focussing on manufacturing, Indian companies need to concentrate on conceiving, designing and branding products.
