The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
The Japanese auto maker, which is present in India through a joint venture with the Kirloskar Group, is investing Rs 3,200 crore (Rs 32 billion) for setting up a new production facility in Bangalore to launch its 'strategic' small car in New Delhi.
As the Nano made its commercial debut, automotive industry experts opined that the Rs 1 lakh wonder from the Tata stable can give an additional 14 million Indian families access to an affordable car, thus creating a niche segment.
Net profit at M&M and Mahindra Vehicle Manufacturing Ltd contracted to Rs 918 crore from Rs 1,238 crore a year ago while revenue and other income decreased to Rs 12,997 crore from Rs 13,551 crore a year ago.
The pilot project initiated by Indian Railways in December 2008 to transport cars on rail has been commercialised and will be extended to other parts of the country.
The Rs 17.70-lakh Honda Civic competes with the Skoda Octavia, Toyota Corola Altis and Hyundai Elantra.
Domestic passenger car sales jumped by 30.79 per cent to 1,41,184 units in June, 2010, compared to 1,07,948 units in the same month last year, said an Indian automobile body.
The struggling Indian automobile industry on Monday reported yet another worst ever performance with overall domestic sales declining by 18.2 per cent in December 2008, as commercial vehicles and two-wheelers sales crashed heavily.
India's second largest car maker, Hyundai Motor India, is planning to phase out its hatch-back Getz and focus on its other small car i20.
The government will invite bids by this year-end for three mega projects worth around Rs 14,500 crore (Rs 145 billion) in the road sector, Road Transport and Highways Minister Kamal Nath said on Friday. Earlier, he had said that 20 km of roads will be built in a day in the next two years amounting to an investment of Rs 2,00,000 crore (Rs 2,000 billion).
Hyundai Motor India also plans to raise its sales in the overseas market this year.
At a time when global auto majors are struggling, carmakers in India have been able to expand their overseas presence with exports from the country registering whopping 57.04 per cent growth in the last fiscal.
The domestic passenger car sales fell by 6.59 per cent in October to 98,900 units from 1,05,877 units in the same month last year.
Maruti launched the Baleno in May 2016 and the new Swift in February this year
During April, Maruti Suzuki India's domestic car sales were up 2.72 per cent at 86,481 units, as against 84,188 units in the same month last year.
Maruti's Alto retained the top position in June with 14,856 units, as against 15,750 units in June last year.
Automobile sales in January dropped 7.45 per cent, compared to the same month in 2008. Despite the decline, it is the first indication that the fall in sales, which occurred between October-December 2008, could be bottoming out and many hope for a recovery in February or March.
Bajaj Industries chairman Rahul Bajaj on Thursday said the government should change the archaic land acquisition rules in India to deal with contentious issues like Singur.
Total sale of vehicles across all categories increased 44.94 per cent to 11,14,157 units in January.
Domestic car sales showed their upward trend for the third consecutive month with April sales registering 4.20 per cent growth after prolonged decline that started in the second half of 2008.
Auto sales fall 18 per cent in November.
Mahindra is the latest among a clutch of other manufacturers that have been using services, fuel efficiency and packages as unique selling proposition. Sales of Mahindra's heavy trucks dropped to 3,427 units in the eight months from April to September.
The S-Cross is priced between Rs 803,000 and Rs 12.03 lakh and is sold through its premium retail outlet Nexa showrooms only
Domestic passenger car sales have recorded 33.88 per cent increase at 1,32,615 units in October from 99,052 units in the same month last year.
The fourth largest car manufacturer by sales, General Motors, is planning to launch its mini commercial vehicles (MCV) sold in China under the brand name Wuling in India in the near future.
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According to industry body Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, with demand continuing to be low and factories not operating at full scale, this may lead to temporary excess overheads.
Ratan Tata, chairman of Tata Motors said that rising costs of fuel and raw materials are the biggest worry for the automobile industry. Tata also warned of tough times for the company as its market share slid in the last financial year.
The company has so far witnessed a 14 per cent jump in its sales during January-July period.
A slowdown in the automobile industry is set to reverse by the year-end. The slowdown, which is cyclical in nature and occurs after every seven years, should come to an end in the next three months, according to the Society of Indian Automobile Manufacturers (SIAM), the country's apex automobile body.
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Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
Czech automaker Skoda is planning to introduce as many as eight models in the next five years to make India amongst the top-five of its global markets.
India's largest car maker Maruti Suzuki on Thursday said it has no plans to cut the price of Maruti 800 to compete with Tata Motors' Nano.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
The passenger vehicles sales in the country has seen a 21.21 per cent growth during April at 1,30,013 units as against 1,07,263 units during the same month a year ago. The domestic car sales rose 17.2 per cent in April to 98,740 units from 84,283 in the same month a year earlier. The domestic sale of commercial vehicles such as trucks and buses increased 7.6 per cent to 33,271 units in April, from 30,914 over the same period last year.
Amongst cars sold in the mid-size category (domestic sales) between April 2007 and March 2008, diesel variants outsold petrol car models roughly in the ratio of 7:3. That means over 70 per cent of the over 1,79,493 mid-size cars sold in the domestic markets were diesel models. Diesel mid-size cars on an average are priced 15.5 per cent more than the petrol variant. Overall, the mid-size category, petrol and diesel models included, grew by 14.6 per cent.
The stand-off between Bajaj Auto and TVS Motor Co over the alleged patent infringement continues with both the companies sticking to their positions.
The company looks to sell the vehicle to Indian and sraeli Army.
Renault will recall 646 units of hatchback Pulse and mid-sized sedan Scala in India, manufactured between September 2011-July 2012, to fix faulty driver side air bags.
