Car exports from India have reached the levels of around six lakh units annually.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
Impact of the slowdown is most visible among promoter/owner-CEOs
'It leads to more investment, more money put in R&D, expansion and modernisation.'
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
Sales of four- and two-wheelers almost halved in August, compared to the equivalent month last year.
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
The five-year (2015-16 to 2020-21, or FY21) compound annual growth rate (CAGR) of the overall auto industry is now negative at 2 per cent, against 5.7-per cent growth it saw in the previous five years (from 2010-11 to 2015-16).
Worth Rs 210,024 cr, it is Rs 1,100 cr shy of combined Rs 211,186 cr value of Tata Motors and M&M
The move is prompted by the disruption in the car usage pattern caused by the app-based ride-hailing companies such Ola and Uber
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.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
Developed at an investment of Rs 620 crore (Rs 6.2 billion), the most on a car by Maruti Suzuki, the Ciaz will also be exported to West Asia, Europe, Africa and Latin America.
The challenges of transition to stricter emission norm BS-VI from BS-IV and compliance to new safety norms thereby making vehicles costlier are lurking around the sector.
The company cited low demand in the second half of the year due to high interest rates, increased insurance cost and fuel prices for its downward revision
Maruti Suzuki and Hyundai would make the largest gain.
R C Bhargava says company's move on the Gujarat plant will be beneficial to its shareholders.
The automaker says it has taken into account some of the big concerns of those behind the wheels today: improved acceleration performance, strength and rigidity, spacious and a more comfortable driving experience.
Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign to make India a global manufacturing hub, create jobs and boost economic growth.
Maruti will showcase its first concept electric vehicle, the e-SURVIVOR; M&M it's six new EVs, including two futuristic concepts
'GST will bring in much needed transparency and higher investments in the coming years and we hope that a few percentage points to India's GDP.'
Maruti Suzuki, Hyundai and M&M draw visitors with a range of concept cars.
New Creta, petrol Vitarra Brezza.. A quick look at what went down at Auto Expo Day 2.
Amid a slowdown in car sales, Maruti Suzuki India on Saturday said it will foray into the light commercial vehicles segment, 30 years after an initial plan was shelved when the company started operations.
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