Japanese tyre major Bridgestone Corporation today introduced America's legendary tyre brand Firestone with the Firestone FR500 for cars and Firestone Destination LE02 for SUVs.
Country's largest carmaker Maruti Suzuki India tightened its grip in terms of best selling cars with six of its models featuring in the the top-10 list for the just concluded fiscal.
"In the first quarter of calendar 2016, the market share was 4.1 percent, with 4.9 percent in March alone", Renault India VP (sales and marketing), Rafael Treguer said.
Speaking of infrastructure, the outlay in Budget 2016 is a big concern for companies making medium and heavy commercial vehicles, especially if they are to repeat the 30 percent volume growth clocked in 2015, or push 2016 sales to a five-year high above 240,000 units
AK Bajoria, President and Director, JK Tyre says tyre imports into India amounts to 25-30 percent in the truck/bus radial segment and upto 45 percent in the passenger car space.
Commenting on the trend, ATMA Chairman Raghupati Singhania said: "Tyre industry is passing through a difficult year as production growth is not only slackening but contraction is being witnessed across key tyre categories."
South Korea's largest automaker is forecasting sales of 465,000 cars in India this year, while maintaining exports at about 200,000 units, said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor India Limited.
Maruti Suzuki, India‘s largest carmaker, sold 1.09 lakh units in December last year, data released by the company show, 20.8 percent higher than the 90,924 units it sold in December 2013.
The total two-wheeler sales in October declined 3.61 percent to 14,61,712 units.
Maruti Suzuki sold 2.66 lakh passenger cars last quarter, down 10 percent year-on-year. But favourable forex rates boosted export realisations and thus helped control decline in net sales to 5 percent.
Nissan launched the refreshed version of its hatchback Micra on Wednesday. The new Micra is priced at Rs 4.7 lakh and will compete with other premium compact cars. The Micra Active, which will target the more value customers, is priced at Rs 3.50 lakh.
Datsun's first product for India will be a five-dour hatchback, which will be launched in 2014. Datsun badged cars will also be launched in other emerging markets like Indonesia, Russia and South Africa.
The Verito Vibe will compete with the likes of Maruti Suzuki Swift, DZire and Honda Amaze. But apart from the Verito platform and the electric car E2O, the company has no plans to launch any other passenger car.
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Rahul Chadha, Mirae Asset Global Investments is more positive on passenger car segment over two-wheelers in the auto space.
Passenger car maker Nissan Motor India on Tuesday said it will increase prices of its Micra hatchback and mid-size Sunny sedan from November 1, to counter a sharp increase in logistics and transportation costs, apart from rising input costs.
In an interview to CNBC-TV18, Bernd Bohr, chairman â€“ automotive group of Bosch says the company is seeing growth in India. "As far as Bosch group in India is concerned, we are expecting 15% growth in sales. That is well above the average of the group worldwide," he adds.
Maruti Suzuki India's first quarter net profit slipped 23% year-on-year to Rs 424 crore as a sharp depreciation in rupee against the US dollar and yen led to higher import costs for India's largest passenger car maker.
Maruti Suzuki expects passenger car sales across the industry will grow in 7-10% range in 2012-13 (April-March), more than twice as fast it grew in the last fiscal year, but still much slower than the 30% it accelerated in 2010-11.
CNBC-TV18’s Ronojoy Banerjee reports that at a time when total car sales have seen virtually no growth this fiscal year, it was commercial vehicles which kept the engine running with an impressive double digit growth in the past 12 months. However, manufacturers fear that the euphoria could be short-lived.
Maruti Suzuki shares fell over 2% on Tuesday after several analysts reduced their fiscal 2012 estimates and maintained reduce or similar ratings for India's largest passenger car maker, citing disappointing results for the third quarter and continued demand and margin pressures in the near term.
Passenger car makers offered huge discounts in December, as much as Rs 60,000-70,000, to attract buyers, in what has been a year full of speed breakers for the industry. But if you haven't bought your car yet, get ready for price hikes from January.
Its been raining discounts on passenger cars, especially those running on petrol, this December. Most car makers offer discounts every year in December to clear out old stock.
After a scorching 30% growth in 2010-11, auto sales have been battling headwinds in the form of costly loans, costly fuel and costly raw materials, this financial year. Two-wheelers, utility vehicles and commercial vehicles are selling well, but passenger car sales have hit a speedbreaker.
Domestic passenger car sales declined by 1.8% to 1,65,925 units in September, 2011, from 1,68,959 units in the same month last year.