The India-EU free trade deal could help Indian-made cars enter Europe at lower costs and challenge Chinese dominance.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
Their projects are known for Italian-inspired creative façades with intricate urban elegance.
Skoda Auto Volkswagen India has filed a case against tax authorities over the Rs 11,000 crore (about USD 1.4 billion) show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units.
Skoda Auto India, the Czech carmaker that has recently found success with its compact SUV Kylaq, says it remains committed to developing a fully localised electric vehicle (EV). The EV will be manufactured at its Chakan facility for both Indian market and exports.
'Our strategy is intact and our important pillars for India -- the SUV roll-out and the focus on the cost of ownership of a car -- remain in focus'
The company is eyeing sales of 8,000 units per month for the Kylaq, which starts at Rs 7.89 lakh (ex-showroom) and boasts 96 per cent localisation.
Wipro was the biggest gainer in the Sensex chart, rising 4.79 per cent, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
Volkswagen Passenger Cars is targeting a volume sales growth of about 15 per cent in the country in 2024, even as it expects the Indian passenger vehicle (PV) industry to grow by 5-7 per cent in the current year, its India brand director, Ashish Gupta, said on Thursday. This means the company is expecting to grow 2-3 times faster than the Indian PV industry in 2024. But globally, the German automaker is expecting just 3 per cent rise in sales this year, down from 12 per cent last year.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
Czech automaker Skoda on Thursday globally unveiled its all new SUV Kushaq which would take on the likes of Hyundai Creta and Kia Seltos in the fastest growing mid-sized SUV segment in the domestic market. The model is the first production car as part of the company's India 2.0 project. Under the lead responsibility of Skoda Auto, Volkswagen Group is investing 1 billion euros in its model campaign in the Indian subcontinent to strengthen its presence.
Formula One will have a new power unit from 2026 with the focus on sustainability and a more cost-efficient future.
Amid a rush of sport utility vehicle sales, Volkswagen is betting on its premium mid-sized sedan - the Virtus - to gain market share in India. The Volkswagen Virtus is the second product under the India 2.0 project being developed on the MQB-A0 IN platform, with up to 95 per cent localisation levels. In February, the company registered an 84 per cent year-on-year growth in sales, primarily driving on the Taigun it launched last year.
Volkswagen said the 2-litre engines would get a software update.
While Porsche India has issued public notices stating that Volkswagen Group Sales India is the sole importer of Porsche vehicles and asking customers not to deal with any other entities, Precision Cars India is contesting it saying Porsche's act was a breach of contract.
olkswagen on Wednesday launched a petrol variant of its premium hatchback Cross Polo in India, priced at Rs 7,07,000.
Suspension that has fully acclimatised to Indian roads and handles potholes and bumps with ease, plush interiors that feel premium beyond just surface level, and aggressive and imposing design cues give this SUV a presence and profile that has little competition, says Pavan Lall.
During the test of the Q5 diesel model by ARAI, nitrogen oxide (NOx) level was found to be more than the stipulated level following which the company withdrew the model from its dealerships.
Under its India 2.0 plan, the Volkswagen group will develop and manufacture cars to meet the requirements of the region.
German automobile giant Volkswagen Group has found in John Chacko a natural successor to Joerg Mueller as the new chief representative for India as well as president & managing director, Volkswagen India. The 58-year-old BTech from Indian Institute of Technology-Madras (Class of '73) has been a part of the Volkswagen Group since 1978.
Volkswagen Group is planning to launch a crossover Sports Utility vehicle called Volkswagen Rocktan soon in India.
However, the company has not revealed the financial details of the deal.
VW has admitted that 11 million diesel engine cars worldwide were fitted with the software that helped in manipulating emission tests.
Former head of Skoda Auto's India unit, Imran Hassen, is being forced out of the Volkswagen group following "differences" with the management, a senior company official said.
On Day One of the lockdown announced by the Maharashtra Government, it wasn't business as usual for automobile manufacturing units in the State. Confusion prevailed over regulations-what is allowed and what isn't. While some units ran with less than half the workforce, others sought clarity from the government on what is permissible and what isn't.
Volkswagen's new SUV is set to lock horns with half a dozen rivals, says Pavan Lall.
Czech automaker Skoda on Monday forayed into the midsize SUV segment in India with the launch of its new offering Kushaq, priced between Rs 10.5 lakh and Rs 17.6 lakh (ex showroom Delhi).
The Three-Pointed Star also unveiled its 2021 motto coined as 'Reimagining Excellence', which aims at making the brand more desirable and drawing customers closer.
The decision to release the Phaeton was, in part, a response to Mercedes' decision to compete directly with Volkswagen in the European marketplace with the low-cost A-Class.
The company faces fine of up to $18 billion in the US.
"We will launch the new Jetta and new Passat in the Indian market in 2011," Volkswagen Group's Head of Marketing and PR (Passenger Cars) Lutz Kothe said.
Higher costs of car inventories, missing sales targets and manufacturer expectations, and soaring rentals, are eating into dealers' margins.
Volkswagen, the largest European car maker, sells the Polo, Vento, Jetta, Passat and the Touareg in the domestic market.
However, the group, which had earlier planned to invest Rs 2,000 crore (Rs 20 billion) for expanding operations, is still putting that on hold as the VAT refund issue with the Maharashtra government remains unresolved.
German name Volkswagen translates into English as the 'people's car'.
Volkswagen said that it will reposition Skoda brand in India, to align with its global practice. This means, the company wants to move Skoda brand down the pecking order; and reduce price of the cars sold under the brand name.
Volkswagen was not the largest carmaker in the US and that North America accounted for merely 1-1.5 per cent of its total sales.
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