Renault India to expand export markets
The Dollar Business Bureau Renault India Pvt Ltd, a subsidiary of French auto maker Renault SA, is planning to increase its exports from India to other countries. The company is looking to make this country into a manufacturing hub for exporting its cars to Asian and African countries. The company has started shipping its car models - Duster and Kwid to Sri Lanka in July. It will be entering Nepal this month and also preparing to enter Bhutan soon, said Sumit Sawhney, Country Chief Executive Officer and Managing Director, Renault India Operations. Other than these neighbouring countries of India, Renault is looking to tap the African markets as well. The company is working on a strategy for exporting cars to South Africa, which may get finalised ...
Indias auto exports down 9.7% in Q1 2016-17
The Dollar Business Bureau India’s overall auto exports fell 9.7% in the first quarter of the current fiscal due to a significant decline in demand in some of the country’s core automobile markets. The sales of three-wheeler segment witnessed the maximum decline, as it shrank by 46.22% to almost 66 thousand units compared to over 122 thousand units in the same period a year ago. The two-wheeler exports, too, contracted by 8.3% to over 577 thousand units during April-June 2016-17 from almost 623 thousand units in the same period a year ago. "The main reason for the decline has been that our main market Europe saw pressure and we are now moving to new markets like South Africa and Latin America," said Vishnu Mathur, Director ...
Home, auto loans to become cheaper
Source: PTI Home, auto and other loans are set to become cheaper with Reserve Bank of India on Tuesday reducing the short-term lending rate by 0.25 per cent to over 5-year low of 6.5 per cent, taking the total cut to 1.5 per cent since January last year. Unveiling the first bi-monthly monetary policy for the current fiscal, RBI Governor Raghuram Rajan said banks have already cut interest rates by 0.25-0.5 per cent and after Tuesday's rate cut, borrowings will become cheaper. "Borrowing is cheaper...and will continue to do so," the Governor said, adding that the introduction of marginal cost of funds-based lending rate (MCLR) system will improve monetary policy transmission. The Reserve Bank has effected a rate cut after a gap of 6 ...
Indias auto exports grow over 20% in April-December 2014
Sai Nikesh D | The Dollar Business The automobile sector in India is estimated to grow to around $145 billion in 2016 Automobile exports in India grew by 20.75% in between April and December 2014 over the same period in 2013, according to the Society of Indian Automobile Manufacturers (SIAM). Exports of two-wheelers recorded the highest growth of around 25.26% followed by three-wheelers (20.56%), commercial vehicles (14.58%) and passenger vehicles (6.21%). SIAM said that the threat of excise rollback in the month of January boosted the vehicle sales in December, 2014. In June 2014, the new government had extended the duty concessions by six months to December 31, 2014. The excise duty on small cars, scooters, motorcycles and commercial vehicles was ...
