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India Auto News Tuesday, 29 June 2010 |
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National - Fuel price deregulation unlikely to dampen car sales for long- Tata Motors to assemble small, medium-sized trucks in South Africa - Mercedes-Benz India kicks off used car business - GM India, SAIC to launch compact car in Rs 2-lakh price segment - Tata Motors, JLR to develop luxury car for emerging markets - Hyundai India suffers decline in exports due to slowdown in Europe |
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Fuel price deregulation unlikely to dampen car sales for long
The Indian auto industry has taken the recent fuel price hike in its stride, with most carmakers in the country confident of maintaining their growth momentum. While petrol prices have gone up by up to Rs 3.5 per litre after deregulation, diesel prices have been increased by Rs 2 per litre. Maruti Suzuki Chairman, Mr RC Bhargava, said that it was possible that sales of big cars would be negatively affected by the hike in the short term, but that the phenomenon would be a temporary one. |
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Tata Motors to assemble small, medium-sized trucks in South Africa
Tata Motors is planning to set up a new plant in South Africa to assemble small and medium sized trucks. It will introduce its world truck range in the country at a later stage. Expected to be operational by the end of financial year 2010-11, the plant will have an initial capacity of 3,000 units, which can later be scaled up to 4.500 units. The company may also set up an assembly plant in Nigeria within the next 2-3 years. |
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Mercedes-Benz India kicks off used car business
Germany luxury car company, Mercedes-Benz, kicked off its pre-owned car business in India last week. The company will initially offer its used cars for sale at six outlets in four cities - Delhi, Mumbai, Ahmedabad and Chandigarh - and will add 6-8 more outlets by the end of 2010. Under the programme, a pre-owned
Mercedes C-Class will be available for Rs 15 lakh, as against its original price of Rs 26-28 lakh. The company expects 10-15 percent of its sales in 2011 to come from the used car business. |
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GM India, SAIC to launch compact car in Rs 2-lakh price segment
General Motors India has started working on the development of its new compact car to be positioned under the Chevrolet Spark.
The company will use the low-cost manufacturing expertise of its Chinese partner, Shanghai Auto, to develop the car. GM India President and MD, Mr Karl Slym, said that the company would not import components from China, but would use the low-cost supply base in India to manufacture the car, expected to be priced at approximately Rs 2 lakh. |
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Tata Motors, JLR to develop luxury car for emerging markets
Tata Motors and its British subsidiary, Jaguar & Land Rover,
are working together on developing a new car for emerging markets. The two companies are trying to combine their core competencies - low-cost manufacturing and product innovation - to develop the car. According to media reports, while the car's platform will be designed by Tata Motors in India, JLR will provide technology inputs and work on internal engineering. The car is expected to be priced in the range of Rs 20-30 lakh. |
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Hyundai India suffers decline in exports due to slowdown in Europe
Hyundai India said last week that its exports to Europe would see a decline in financial year 2010-11 due to the economic crisis. The company currently exports 48 percent of the cars it produces at its two plants in Chennai.
Mr Arvind Saxena, Senior Vice President, Marketing & Sales, HMIL, said that exports to Europe had gone down by 25 percent following the economic slowdown, and that the company was expanding its presence in new export markets like South Africa and South America to make up for its losses elsewhere. |
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NEWSLETTER ARCHIVES - Auto News Roundup, 25-June-2010 - Auto News Roundup, 23-June-2010 |
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