New Delhi sources stated that Home-grown automaker Tata Motors has stopped the production of its compact sedan Indigo and compact hatchback Indica impacted by low sales and stiff competition in the segment, according to a company executive close to the development.
According to sources Hyundai has launched the face lifted Creta SUV at Rs 9.44 lakh (ex-showroom, Delhi). Available in five trims, three engine options and a choice of two transmissions, the top-spec SX (O) MT diesel carries a price tag of Rs 15.04 lakh.
New Delhi sources stated that tyre manufacturer JK Tyre & Industries is looking to expand its presence in the two and three wheeler segment, by adding more originally equipment manufacturers (OEMs) into its customers list. According to a top company official Rajiv Prasad president (India operations) JK Tyre & Industries told "Just like the way we command a leadership position in the truck and bus space, we would like to have a similar position in the two and three wheeler segment soon as well".
Brussels sources added that the European Union executive will propose at least a 30 percent reduction target for CO2 emissions from trucks by 2030, an EU source said on Monday, as the bloc seeks to slash greenhouse gas emissions. Meanwhile the target will be the first ever CO2 standard for trucks in the EU, which has no limits on what accounts for almost one quarter of the bloc's transport-related emissions.
New Delhi sources reported that part of a Rs 9,400-crore package for electric and hybrid vehicles, the government may offer incentives of up to Rs 2.5 lakh to those scrapping old petrol- or diesel-fired vehicles along with sops for investment to manufacture parts such as motors in the country. Meanwhile the buyers of electric two-wheelers that cost up to Rs 1.5 lakh will get incentives of around Rs 30,000, a draft policy formulated by the government has proposed.
New Delhi sources stated that the auto sector has started the new financial year 2018 to 19 with a strong sales growth of 17.44% 2379718 units in the domestic market, according to the latest SIAM data. Meanwhile passenger vehicles grew 7.50% to 298,504 units, the highest growth was witnessed by the van segment up utility vehicles came next with a step up of 11.92 percent and passenger cars grew marginally at 4.89%.
New Delhi sources reported that Honda Motorcycles and Scooters India (HMSI) Limited’s manufacturing plant at Vithalapur, is located some 78km from Ahmedabad, has been temporarily shut for technical reasons. Accordingly the company officials confirmed the same through a statement.
New Delhi sources reported that S N Barman, Tata Motors VP, Sales, Marketing and Customer Support, Passenger Vehicle business unit told that Homegrown automobiles manufacturer Tata Motors is expecting faster growth in financial year 2018-19, compared to the last fiscal. Meanwhile the car maker is betting big on the rural market and younger customer to drive the growth.
New Delhi sources reported that Indian arm of Japanese car manufacturer Honda has registered monthly domestic sales of 9,143 units in April 2018, against 14,480 units in the corresponding month last year. Earlier the company exported 452 units during April 2018, against 442 units in April 2017.
According to sources the year 2018 started off with the Auto Expo and we saw manufacturers take this stage to showcase all their cars that will be making their way into the Indian market in the next couple of years. Meanwhile BMW Group is all set to launch the Countryman hatchback in India on May 3. The Countryman is the largest offering in the British automaker's line-up and can be also termed as the more practical derivative of the MINI 2-door hatchback.
Thiruvananthapuram sources added that the Centre has decided to postpone the mandatory requirement to have global positioning system (GPS) equipment and panic button connected to all public transport service vehicles till April 1, 2019. Accordingly the original decision that was based on the court directives in the Nirbhaya case verdict, was to implement them by 2017 that was subsequently extended to April 1, 2018.
New Delhi sources have stated that Skoda Auto has indicated that the partnership with Tata Motor’s luxury arm is possible in the near future, the company’s CEO told Bloomberg. Meanwhile the parent company Volswagen, which has been planning to launch affordable model for so long, will decide its strategy in the first half of this year, CEO.
Mumbai sources reported that sturdy multipurpose vehicles (MPV) or people movers which trailed the most muscular SUV's of late are making a robust comeback. Meanwhile about half a dozen new models are likely to hit local roads in the coming 12-24 months, helping expand the MPV market.
According to sources the S-Cross was not received as well as Maruti Suzuki would have originally liked but the crossover has seen a strong revival in demand in the last financial year. Maruti sold 30,923 units of the S-Cross in FY 2017-18, representing a solid 44.3 percent growth in sales over FY 2016-17. In FY 2015-16, the S-Cross found 24,077 buyers, though it must be noted that the model was only on sale for nine months during the period.
New Delhi sources stated that according to the Boston Consulting Group (BCG) survey, up to 89% of people plan to buy a new car in the next five years. As per report over 79% would refrain from buying a car if ride sharing matches car ownership for affordability and convenience.