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!
Focused to bring in new age digital technology to the tractor rental business, TRRINGO is expected to significantly increase the reach of farm mechanization, the company said.
Road Transport and Highways Minister Nitin Gadkari had recently said the company had sent him a letter in which it had committed using 100 per cent bio-diesel in its cars and trucks.
Pickup trucks have not gained as much traction in India so far. Tata and Mahindra have explored the market in the past but Japanese utility vehicles major, Isuzu has decided to make a bold entry in the Indian market with a lifestyle pickup truck named Isuzu D-Max V-Cross.
Currently, Mahindra Group has a 21-member core executives board. about 10 executives are in their late 50s and early 60s. The proximity to retirement age has made it imperative for the group to hunt for future leaders.
Some of the stocks that should be on your radar are: Tata Motors, BEL, BEML, Larsen and Toubro, Mahindra, Reliance Defence and Engineering, Bajaj Finserv, Parag Milk Foods, JB Chemicals and Pharmaceuticals, ICICI Bank, Infosys.
The new sporty KUV100, available in petrol and diesel, is the smallest vehicle in Mahindra South Africa's product range.
Realty firm Mahindra Lifespaces and TERI have partnered to set up a center of excellence for improving energy efficiency in housing projects.
India is considering introducing a policy to scrap old vehicles, like the cash-for-clunkers programme the United States tried during the global economic recession to boost auto sales.
"Mercedes has given me a letter that they can use 100 percent biodiesel in their cars and trucks," said Road Transport and Highways Minister Nitin Gadkari.