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Showing posts with label India. Show all posts
Showing posts with label India. Show all posts
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03 February, 2012 French auto major Renault on Thursday said it is planning to launch a passenger car in India at below Rs 4 lakh.
“Beyond Rs 4 lakh a car is our playing ground today (in India). We project to go below Rs 4 lakh,” Renault India Pvt Ltd country managing director Marc Nassif said here. He was speaking on the sidelines of a programme to launch Pulse, a hatchback in B segment.
According to Nassif, currently about 50 percent of Indian passenger cars cost between Rs 2 lakh and Rs 4 lakh. The company launched the diesel version of Pulse, priced between Rs 5.77 lakh and Rs 6.25 lakh, in January.
Nassif said the plan of rolling out cars below Rs 4 lakh was part of its global strategy.
On the sales target in India, he said: “We will aim to sell one lakh cars once we have our five cars on the roads and 100 outlets. It can be 2013 or 2014... that will depend on how the models are doing and the growth of the market.”
Among the company's five new cars, three are out in the market.
The car maker, which entered India in 2005, launched a luxury sedan, Fluence, in May 2010. In September, it came up with a compact SUV, Koleos.
In the second half of this year, it will launch Duster, a SUV. The company will come out with a sedan before 2012 ends. “Last year (2011) we sold about 1,500 cars (Koleos and Fluence),” Nassif said.
The company will open 100 outlets in the country by December 2012.
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Friday, November 25, 2011, AutomotiveWorld.com
Indian automotive components manufacturer Motherson Sumi Systems (MSSL) has completed its acquisiti...Any questions? Email us or call our Member Services team on +44 29 2070 9302.Our free E-Newsletter service is an excellent way of staying up to date with news and features from around the global auto industry.
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25 November, 2011 German luxury car maker BMW launched its pre-owned car business in India that can make customers own a product of the brand for as low as Rs 16 lakh.
The company said it is looking at the business, BMW Premium Selection, to account for up to 10 per cent of its total new car sales. “Till October this year we have sold a total of 8,042 cars in India, accounting for 40 per cent of the luxury car market. With the BMW Premium Selection, we are looking to enhance position,” BMW India President Andreas Schaaf told reporters in Gurgoan.
The pre-owned car business will play an important role in the success of the company in India, he added. “We expect the used car business to be about 10 per cent of new car sales,” he said.
Asked how much would be the price differential between the new and used BMWs, Schaaf said : “For example, a 3Series sedan with three years of usage, can be available for up to Rs 16 lakh as against Rs 24 lakh for a brand new one.”
He said pre-owned BMWs will be available in seven exclusive BMW Premium Selection dealerships across India.
“The number of dealerships will be increased gradually as we go along in the next one to one-half years,” he said.
In order to push sales, BMW is offering 13 per cent finance rate on purchase of its pre-owned cars through its financial services arm, BMW Financial Services.
“These cars are less than five years and would have clocked under 120,000 kms,” he said adding the company is offering warranty of 24 months or up to 200,000 kms whichever is earlier.
Commenting on the market condition, Schaaf said the luxury segment was growing well till October.
“Since then it is getting much more difficult and the market has changed. We had set a target of selling 10,000 units this year, which is becoming difficult now.”
BMW’s rival Mercedes had already forayed into the used car market last year with ‘Proven Exclusivity’.
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Friday, November 25, 2011, AutomotiveWorld.com
Indian automotive components manufacturer Motherson Sumi Systems (MSSL) has completed its acquisitio...Any questions? Email us or call our Member Services team on +44 29 2070 9302.Our free E-Newsletter service is an excellent way of staying up to date with news and features from around the global auto industry.
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07 November, 2011
A part of auto conglomerate Volkswagen, the company’s wholly owned subsidiary Skoda Auto India expects the Rapid to become its best-selling car in the country, surpassing compact car Fabia’s numbers.
“This car is specifically designed for India and the launch will be the global launch for the car. At a later stage, it may be introduced in different markets across the world,” Skoda Auto India Marketing Head Tarun Jha said. The company will sell the car specifically in the Indian market and is betting big on the model, he added.
“We have not decided anything about the exports yet as the car is meant for the domestic market. However, we may export the Rapid to some neighbouring countries later,” Jha said without sharing details. The company currently does not export any of its models from India, he added.
Talking about sales, Jha said: “It may become the best-selling car for us in India. It may be a game changer for us.” He said the company’s current best-selling car is Fabia. It sells about 1,200-1,500 Fabia units every month. Skoda Auto India Board Member (Sales and Marketing) Thomas Kuehl said: “We will compete against the Honda for the petrol variant of Rapid, while it will be Hyundai for the diesel variant.“
The company is also increasing its dealership network to meet the possible increased demand of the Rapid. “Currently we have 82 dealerships and it will be increased to about 100 by the end of this year. Next year, we will add another 20 outlets,” Jha said. The company will target mainly Tier-II and III cities for expansion of its dealership network, he added.
Earlier this month, Skoda Auto had announced that it would start production of its entry-level sedan Rapid from the VW Group’s Chakan plant, near Pune.
Skoda also produces its compact car Fabia at the plant. The Chakan plant was set up by Volkswagen, which manufactures models such as the Polo and Vento. It has invested 580 million euros on the plant, which has an annual production capacity of 1.1 lakh units.
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03 November, 2011 Diversified business house InterGlobe Enterprises on Wednesday said it has launched British sportscar maker Ariel Motor’s Atom range of cars in India, priced up to Rs 85 lakh.
InterGlobe Established Pvt Ltd, the luxury lifestyle solution provider and subsidiary of InterGlobe Enterprises, will be responsible for Ariel Motor’s products in India. Branded as The Estd, the InterGlobe Established will “exclusively represent the Ariel Motor Company in India and SAARC”, the company said in a statement.
The Estd will sell various models of Atom with price of car having standard specifications starting from about Rs 55 lakh and for all upgrades such as superchargers going up to Rs 85 lakh. It will also bring the different variants of Ariel Atom 3 in India.
“India is fascinated by fast cars, and the Atom gives us a unique opportunity to provide a distinguished product in this category...The demand for these cars is expected to grow at 20 per cent over the next 5 years, presenting an exciting market opportunity,” The Estd President and CEO Nigel Harwood said.
The company sees “huge potential” for this product in India, especially on the back of a successful F1 season.
“We have seen the emergence of sports car culture amongst the young HNIs (high net worth individuals), who seek thrill and adventure. The addition of Atom will help us strengthen our portfolio and cater to new emerging consumer segments,” he said.
England-based Ariel Motor Company’s V8 Atom series beat the Bugatti Veyron earlier this year by 1.7 seconds on the TopGear test track, making it the fastest road-legal car to go around the track, the company claimed.
Earlier this year, The Estd had introduced Swedish super luxury sports car Koenigsegg, carrying a price tag of about Rs 12.5 crore. It had also launched an entire range of other luxury products in India such as motorcycles, yachts, boats, premium helicopters and private jets.
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03 November, 2011 French carmaker Renault is planning to follow the footsteps of rivals like Hyundai, Toyota, Suzuki and Honda to develop an all new car platform solely for India as the company tries to push sales in one of the world’s high-potential market.
Carlos Tavares, the global chief operating officer of Renault, said the company was working out “all options” to give a push to its India plans. “India is one of the key markets for us along with Brazil and Russia,” Tavares said after unveiling the company’s first small car, Pulse, which shares platform with Japanese partner Nissan’s V-platform.
Nissan already sells its Micra small car based on the same platform. “It could happen that we develop a new platform for this market. All possibilities are open.”
A car built for India and its specific requirements is seen as crucial to break into the market. Models specifically developed for the Indian market include Toyota’s Etios sedan and Liva hatchback, Honda’s Brio and Hyundai’s Eon. Suzuki’s Indian subsidiary Maruti is also developing a new car “from scratch” that is expected to hit the roads next year.
Renault has been trying to give a thrust to its India plans ever since its partnership with Mahindra & Mahindra ended in a divorce after their joint product Logan failed to take off. The company currently sells the Fluence sedan and Koleos sport-utility vehicle in India and plans to introduce another SUV, Duster, by mid-2012.
The Pulse will be the third car from the company and will be launched around January next year. However,its commonality with the Nissan Micra raises doubt over any blockbuster success, considering that Micra has not been able to make any major impact.
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08 November, 2011 Japanese auto major Suzuki Motor on Monday reported 5.26 percent jump in its net income for the six-month period ended September 30, despite heavy production loss due to labour unrests at its best performing operations in India during the same period.
During the April-September period, the company’s net income increased to 32.01 billion yen (about Rs 2,010 crore) from 30.41 billion yen (about Rs 1,910 crore) in the same period last year, Suzuki Motor said in a statement.
The net sales during the period, however, declined by 6.82 percent to 1.23 trillion yen (about Rs 76,907 crore) from 1.32 trillion yen (about Rs 82,715 crore), it added.
“The domestic economy is somewhat recovering from the stagnation following the Great East Japan Earthquake, but it is exposed to a downward pressure from various factors including the flood in Thailand and a further appreciation of the yen,” the company said. It also said the decreased sales in India had an impact on its net sales. “...sales amount (in Asia) decreased by 36.1 billion yen to 427.6 billion yen year-on-year due to decreased sales of Maruti Suzuki India and the exchange rate factor following the Yen appreciation,” it added.
Maruti Suzuki India had posted 59.81 percent fall in its net profit at Rs 240.44 crore for the quarter ended September 30, mainly due to production loss at Manesar because of labour unrest and foreign exchange loss. Also, Suzuki’s motorcycle factory in Thailand has been closed since mid-October as deadly floods there disrupted the flow of parts supply. The company has been spared any impact on its car production in Thailand so far.
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09 November, 2011 South Korean car maker Hyundai has lined up 10-15 launches in India in the next four to five years, in an attempt to protect and boost its market share that is under pressure due to increasing competition.
The firm, whose market share in India has fallen to 18.3 percent from 21 percent in the past 12-18 months, plans to overhaul its portfolio with stylish so-called “fluidic” designs and enter categories where it has no presence.
“The excitement in the market is derived out of only new models and the facelifts, so you have to be continuously working towards it,” said Arvind Saxena, vice-president sales and marketing, Hyundai India. The company plans to launch a cost-saving LPG variant of Eon prompted by rising petrol prices.
Also on cards from Hyundai stable are an executive sedan positioned above Verna to take on likes of Chevrolet Cruze and Honda Civic, in addition to variants and facelifts of i10 and i20 in the next few years. Hyundai recently launched its smallest car Eon, pitted against Maruti’s global top seller Alto.
Hyundai’s planned product onslaught comes at a time India’s largest car maker Maruti Suzuki has lined up 15-20 cars by 2015. Foreign car markers have also planned a parade of new cars, including 6-8 from General Motors, eight from Ford, and 10-15 from Renault-Nissan.
Backed by the strong economic growth and low penetration of cars, the passenger car market in India has witnessed a strong double digit growth over the last few years and it is expected to maintain a growth of 12-14 percent in the next five years.
However in the first six month of this fiscal, passenger vehicle sales have remained sluggish, growing at 1.84 percent as rising interest rates, firmer commodity prices and stubbornly high inflation dented demand in one of the fastest growing car markets.
“Experts said it is not surprising to see a barrage of new launches as product lifecycles get shorter and competition intensifies.” The basic genesis has to be that it has to offer value and it has to be differentiated from other products.
With Eon at the bottom end and Santa Fe at the top, Hyundai will study all segments within this range that could make sense for the Indian market, Saxena said. With widening price differential between diesel and petrol, Hyundai has not ruled out compact diesel cars in future.
Wednesday, November 09, 2011, AutomotiveWorld.com
The passenger car market in India posted its biggest monthly fall since December 2000. Monthly car s...Any questions? Email us or call our Member Services team on +44 29 2070 9302.Our free E-Newsletter service is an excellent way of staying up to date with news and features from around the global auto industry.
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