Search Result for : Honda

The Dollar Business Bureau With focus of the industry shifting towards domestic market and lasting impact of GST refunds on exporters, the passenger vehicle exports from India dropped by 1.51% in 2017-18, witnessing a dip for the first time in the past seven years. In 2017-18 fiscal, 7.47 lakh units of passenger vehicles were exported as against 7.58 lakh units in the previous fiscal, as per the Society of Indian Automobile Manufacturers (SIAM). “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41%,” said Sugato Sen, Deputy Director General, SIAM. Citing the the reasons behind the decline in passenger vehicles export, Sen said that some key exporters have shifted their focus on the domestic market. In addition, the exporters ...

The Dollar Business Bureau Backed by growing customer demand and introduction of new products, Honda Motorcycle & Scooter India Pvt Ltd, the wholly-owned subsidiary of Japanese Honda Motor Company, recorded a growth of 20% in its overall sales, including domestic and exports, in July. The company recorded its ever highest exports in a single month at 32,569 units and witnessed a growth of 34%. Adding 3%, Honda’s market share in exports zoomed to an all-time high of 15%. “Growing at a fast pace, Honda 2Wheelers India total sales grew at 20% to 544,508 units in July 2017 as compared to 453,884 units in July last year, the company said in a statement. Honda2Wheelers is the only manufacturer to gain 2% market share to 28.8%, making the company highest market share gainer in July. Interestingly, ...

The Dollar Business BureauAutomobile major Volkswagen is planning to strengthen its SUV segment with the launch of its premium model Tiguan in India. The world's largest car manufacturer looks to scale up its presence in the Indian market. It is reintroducing its premium sedan Passat this year, in addition to its newly unveiled performance-oriented hatchback GTI. The company in one of its recent announcements said it is eyeing at positioning itself as an "accessible premium car brand" in the world’s fourth-largest automobile market. "Tiguan as our first premium SUV, comes into an area where we see more and more people investing in such cars. That will be the first step for us into that domain of SUVs," said Michael Mayer, Volkswagen Group ...

The Dollar Business Bureau Honda, a leading auto maker from Japan, expects that its shipment of components from India could reach Rs.1,500 crore, an increase of 50 percent in the financial year 2016-17, as the company broadens the assortment of products delivered to its global operations from the country. The Japanese auto maker exports various types of engine parts, forgings and transmissions in addition to other components, manufactured at its plant at Tapukara in Rajasthan, to its global operations. Raman Kumar Sharma, Senior Vice-President and Director, Honda Cars India said that the company’s components exports from India have been growing every year. During the last financial year, we had shipped components worth around Rs 1,000 crore. This fiscal, we are expecting to export ...

India is currently the seventh largest producer in the world with an average annual production of 23.36 million vehicles, of which 3.57 million are exported Ahmad Shariq Khan and Jasleen Kaur | The Dollar Business Along with the main expo in Greater Noida, the Auto Components show was also held in New Delhis Pragati Maidan from February 4-7, showcasing cutting-edge technologies and tools from the sector.   The Auto Expo 2016, which concluded on Tuesday, displayed Indias potential to become the hub of manufacturing and innovation in the automobile sector with makers from 20 countries sashaying an array of models on wheels, attracting huge number of buyers and prospective business partners. The biennial extravaganza, organized by the Automotive Component Manufacturers Association (ACMA), Confederation of ...

The Dollar Business Bureau Overseas investors seem to be betting on India’s automobile sector as the industry saw the whopping 89% increase in foreign direct investment (FDI) during the last financial year. Between April 2014 and February 2015, the Indian auto sector received FDI worth US$2.42 billion, almost double than US$1.28 billion pumped in during the same period a year ago. During the entire financial year of 2013-14, the industry received foreign direct investment worth US$ 1.51 billion, according to the latest data released by the Department of Industrial Policy and Promotion (DIPP). Experts say that the steep hike in foreign funding could trigger increased manufacturing activities in India-based plants of global automobile makers. Many global car makers like Hyundai, ...

Jayashankar Menon | @TheDollarBiz (L-R) Rohit Kumar, Zonal Head South, Honda Cars India Ltd; Shigeru Yamazaki, Director, Honda Cars India Ltd; Jnaneswar Sen, Senior Vice-President (Sales & Marketing), Honda Cars India Ltd at a product launch   Honda Cars India Limited (HCIL), the domestic arm of the Japanese car manufacturer Honda, is planning to export 10,000 made in India cars in FY2014-15, which is almost double the 5,500 vehicles exported in the previous year. Though much smaller in number when compared to major car exporters from India -- Hyundai Motor India exported around 2.3 lakh units in FY2013-14, Nissan India exported around 1.16 lakh units, and Maruti Suzuki exported around 1 lakh units -- HCIL’s export target for FY2014-15 signals a tilt ...