Auto industry likely to continue on its growth path: Report
The Dollar Business Bureau India’s auto sector, which witnessed a revival in 2016 after two years of instability, is set to keep the momentum in 2017 with demand to pick up across all categories, according to a report. The auto industry growth is likely to continue this year across all vehicle segments – passenger, commercial and also two and three-wheelers. However, it is unlikely that the sector will see the sales growth of last year because of the impact of demonetisation and uncertainty with regards to the Goods and Services Tax (GST), revealed a report by Dun & Bradstreet (D&B). Last year, auto sales increased 9.2% led by two-wheelers which grew by 9.6% from 0.7% compared to a year-ago. In the meantime, cars segment clipped ...
Escorts divests OEM, auto products business
The Dollar Business Bureau Escorts Ltd, one of India's major engineering companies, announced on Thursday that it is divesting its OEM and auto products division’s export business to Pune-based Badve Engineering, in an all cash deal. However, the company did not reveal the size of the deal. The deal is a part of the farm equipment manufacturer’s strategy to reorient the business in order to focus on its key verticals in construction equipment, agri-machinery and railway equipment, Escorts said in a release. “We believe that the transfer of OEM and export business to Badve Engineering will help us focus on our core areas. We are delighted that Badve Engineering has stepped in to take the business forward,” said Dipankar Ghosh, CEO, Escorts Auto Products ...
Mahindras exports rise 21% at 4,043 units in May
The Dollar Business Bureau Mahindra & Mahindra Ltd announced that its exports increased 21% at 4,043 units during May 2016, when compared to 3,337 units in the same month last year. The company’s total sales, including the exports, surged up 11% at 40,656 units in May 2016 against 36,706 units in the same month previous year. The domestic sales of the leading SUV manufacturer of the country rose 10% at 36,613 units during last month, as against 33,369 units in the corresponding month previous year. The sales of passenger vehicles segment that includes UVs, cars and vans have grown 8% at 19,635 units in May 2016 against 18,135 units in May 2015. The sales of medium and heavy commercial vehicles (MHCVs) have ...
DHI hopeful of AMP, National Capital Goods Policy
National Capital Goods Policy, to be launched soon, aims toincrease production of capital goods by 3 times over the next decade- fromRs.2,30,000 crore to Rs.7,50,000 crore The Dollar Business Bureau Automobile Mission Plan (AMP) 2016-26, which has been finalised and to be launched shortly, aims to place Indian automotive industry in the world top three position in engineering and auto component segment Department of Heavy Industry (DHI) is taking various steps in making India a manufacturing hub as well as to implement the Make in India campaign, said the Union Minister of Heavy Industries & Public Enterpriseson Tuesday, as he informed the media about key budgetary provisions made to his Ministry in the Budget 2016-17. DHI is taking steps for the improvement ...
Mercedes Benz buses: With love from India
Shivani Kapoor | The Dollar Business (From Left to Right: Marc Llistosella, Head of Daimler Trucks Asia, Markus Villinger, Managing Director Daimler Buses India and Erich Nesselhauf, Managing Director and CEO, Daimler India Commercial Vehicles) during the inauguration of DICV bus manufacturing plant. (Photo Source: www.daimler-indiacv.com) Looks like the ‘Make in India’ heat is truly on. The effect has now started showing on the lot of global commercial vehicle (CV) makers in India. India is fast emerging as an export-manufacturing hotspot for this camp of capitalists; and at a time when the Modi-led government is inviting foreign players to make, bake and take from the country. The latest announcement of Daimler AG (on May 28, 2015), the world’s largest truck manufacturer, ...
