Mahindra group-owned automotive design firm Pininfarina today announced a 70 million euros pact with Iran's first automaker Iran Khodro (IKCO) for vehicle development.
The Center is pushing for electric vehicles aggressively highlighting the need to reduce dependence on traditional petrol, diesel and CNG-fired engines.
It recently won the order to supply Mine Protected Vehicles (MPV) in the face of strong competition from Tata Motors, one of India’s biggest defence suppliers.
As per sources, the government had committed to awarding the Rs 60,000 crore project for the FICV vehicles to two companies before March 31, 2017 even as there were expectations of an announcement as early as December 2016 itself.
At least two of the top three commercial vehicle players in India have said that they could look at upgrading the unsold stock to BS-IV standards and are examining its economic viability.
For passenger vehicles, at 30,43,201, the industry volume exhibited a rather impressive 9% growth, the highest in the past six years. The market leader Maruti’s overall domestic volume growth at 10.7% closely tracked the industry. However, a more segmental analysis suggests that the traditional ‘small car’ did not capture the buyers’ fancy any more – the segment in fact shrank in recent months. The ‘crown jewel’ for the company has been the ‘Compact SUV’ segment featuring Ertiga, S Cross and Brezza that grew by 107%.
Total inventory for M&M was worth around Rs 3,000 crore before the verdict and the company has been able to remove half of it at around a 15 percent discount, Pawan Goenka said.
Despite offering sky-high discounts during the last three days of March the commercial vehicle industry is saddled with stocks of 40,000-45,000 unsold BS-III trucks and buses.
SsangYong aims to develop electric vehicles (EV) jointly with M&M and launch them in 2019. Besides there is also the plan to enter the US market around the same time.
Parrikar's push for Made in India defence products saw tremendous response from global and domestic private companies.
"The process of better urbanisation has just began and it could be done with better planning and legislation on the back of good technology and public transportation." On the rapid urbanisation in India, he said the country would do more urbanisation in the next five years than it did in 5000 years.
German commercial vehicle heavyweight Daimler will make new investments while launching 100 products this year to take on the competition of Tata Motors and Ashok Leyland, who control 62 percent of the total domestic CV market.
"Since November, sales of three-wheelers had taken a beating. People were finding it difficult to arrange the cash required for down payment", Veejay Nakra, Sr VP (sales) of Mahindra said.
In this episode, Overdrive‘s Rohit Paradkar is doing a comparison test between Tata Hexa versus Mahindra XUV500 and Toyota Innova Crysta.
Growing disposable incomes, rising consumer aspirations and influx of new brands have fueled the demand for such premium bikes which usually carry an engine of more than 200cc, which is more than double the size of India‘s traditional fuel-efficient mass mover 100cc.
There was a holding back of any major buying by the people. Now that budget is out of the way people will get on with the business, said Goenka
New vehicle purchases nosedived in November and December after the government junked popular bank notes, while bookings and enquiries are understood to have fallen by half during the same period.
The Ignis, which will be available in four trims spread over petrol and diesel engine options, will battle for space in the premium compact segment that is fast gaining popularity.
Maruti Suzuki India, Toyota and Renault posted double digit sales growth in November even as companies like Mahindra, Ford and Honda saw sales drop as walk-ins at dealerships declined on account of demonetisation of high value currency.
Launching the 'e2o Plus' hatchback electric car here today, he said that the initial cost of acquisition of such cars are very high, compared to conventional ones in the same category.
The company, which is set to launch Accord hybrid in the country later this month, said the subsidies offered to hybrid vehicles currently under the FAME scheme in the current form are not sufficient.
Currently, Shuttl aggregates close to 500 buses ranging from 20 to 40 seaters and claims to be generating close to 12,000 rides on a daily basis.
Led by record monthly domestic sales from Maruti Suzuki India, automobile manufacturers ushered in the festive season with robust sales in September.
A study conducted by OECD reckons that with the rise of driverless vehicles coupled with the impact of shared cars, the demand for cars could fall by up to 90 percent in the coming years!