Speculation about rising competition from global majors has led to shares of major Indian automobile manufacturers such as Mahindra & Mahindra (M&M), Maruti Suzuki India, and Tata Motors taking a hit on the BSE.
Elon Musk-led Tesla Inc is yet to express interest in India's flagship scheme to attract global investment in electric vehicle (EV) manufacturing, said Union Minister for Heavy Industries H D Kumaraswamy on Monday. In contrast, multiple global automobile giants -- such as Mercedes-Benz, koda Auto Volkswagen, Hyundai Motor, and Kia Motors -- are keen to participate, the minister noted.
Here is a list of items set to become cheaper and costlier.
If you are planning to buy an electric car in the near future, it would be highly advisable to wait for these upcoming electric SUVs.
In FY22-23, Samsung exported $4.09 billion smartphones from India -- an increase of 42 per cent over 2021, when it was $2.8 billion -- accounting for 35 per cent of all smartphone exports.
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
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.
After a brief lull during the pandemic, there is a strong revival in luxury car sales, bolstered by more launches across price bands, replacement demand, ban on old diesel vehicles in the NCR, and 'revenge buying'.
'And a majority will be in the top-end vehicle range.'
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
German luxury carmaker Mercedes-Benz India on Thursday launched the imported version of its new generation flagship sedan S-Class with a price starting at Rs 2.17 crore while it prepares to introduce a locally-produced variety of the model in the fourth quarter this year. The new 7th generation S-Class comes in two variants -- diesel S 400d 4MATIC priced at Rs 2.17 crore and petrol S 450 4MATIC tagged at Rs 2.19 crore.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
Through a combination of local manufacture and imported CBU models, the company makes and sells four SUVs, one hatchback, and one sedan.
Uniqueness of the first-ever BMW X3 M lies in a newly developed powerful engine and sophisticated chassis technology.
In the late 1990s, Japanese electronics brand Aiwa tied up with a maverick entrepreneur, Kabir Mulchandani, to sell its consumer electronic products. Founder of Baron International, Mulchandani, all of 26 at that time, had already disrupted the television market through a tie-up with another Japanese player, Akai. With a strategy that relied on heavy discounts, exchange offers and freebies, Akai was selling in huge volumes.
Though the two cars were competitive, the lack of a badge led to their dwindling sales.
The first all electric Mercedes AMG launched in India
The Accord Hybrid will be imported through the CBU route to India
Having established its presence in the country, luxury carmaker Lexus is now looking to chart its next phase of growth in India as it looks to consolidate sales network and drive in new models, including fully electric cars in the country, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, initiated operations in India in 2017 and currently sells seven models in the country, including the locally-produced ES 300h sedan. Known for its self charging hybrid cars, the company is now gearing up to drive in battery electric vehicles, besides ramping up its existing product portfolio in the market.
Zippy and comfortable, the Mini Convertible is a perfect car for short jaunts, but this isn't the ride you'd choose to take your entire family to the airport or pick for a long family excursion, says Pavan Lall.
The Maybach GLS 600 4MATIC is the first-ever SUV offering in the company's ultra-luxurious 'Mercedes-Maybach' range. It is the only second Maybach model to be rolled out in the Indian market, following the Mercedes-Maybach S-Class.
The Macan would be comprehensively loaded, and a suite of customisation options would also be available to customers who seek further individuality.
Can Volvo take advantage of the festive season with the launch of its refreshed cars that rival Audi A4 and Q3?
The Ninja ZX-10R and ZX-14R are here for a (very) steep price.
To establish itself as a top luxury player, Volvo plans to launch V40 in India by April.
Mercedes Benz India has introduced this M Class in two editions.
Maruti Suzuki India Limited, the country's largest car manufacturer, on Wednesday unveiled its luxurious and sporty sedan, Kizashi, at an introductory price of up to Rs 17.5 lakh (Rs 1.75 million).
Instead, the company wants to just focus on sales.
While this hip-hop edition is unlikely to drive Merc's market share, the SUV exemplifies what the German automaker is best known for: Innovative engineering and, in this particular case, putting a smile on the face, discovers Pavan Lall.
The limited edition of the Gran Turismo comes with a 3.01 litres diesel engine and only 100 units of the car will be available.
Luxury car maker BMW is skeptical of the viability of launching another brand 'Mini' in the country, a company official said.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
The car promises to offer oodles of performance and fun, but at a price. Is it worth all that money? Indian automobile website MotorBeam finds out.
'The G-Class has been unparalleled and unrivalled around the world, since its inception in 1979. It is the benchmark among luxury off-road vehicles' Martin Schwenk, MD and CEO, Mercedes-Benz India said at the much-awaited launch.
Dr Wilfred Aulbur, Managing Director and CEO, Daimler Chrysler India, said the company had till August this year sold 290 'S' Class, 790 'E' Class and 540 'C' class cars and 70 CBU.
Auto major Toyota Motors on Tuesday said it is studying the Indian market to launch its eco-friendly car 'Prius', but felt the current duty structure on completely built units CBUs would double the price of the vehicle.
This new avatar comes with a completely new 2.0 litre petrol engine under its hood.
The company now offers seven different models of SUVs in India compared to two models a decade ago and contributes around 40 percent of sales up from 30 percent a couple years ago.
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