Maruti Suzuki becomes Indias top exporter of passenger cars
The Dollar Business Bureau Most popular car manufacturer in India, Maruti Suzuki India Ltd has become the largest exporter of passenger cars from the country in the first half of the current fiscal, replacing Hyundai Motor India Ltd. During the period April-September of the ongoing fiscal, Maruti Suzuki shipped 57,300 units of passenger cars, an increase of 6% compared to 54,008 units exported in the same period a year earlier, as per the recent data by apex industry body Society of Indian Automobile Manufacturers (SIAM). The number one exporter for a long time, Hyundai Motor India Ltd exported 44,585 units of passenger cars, witnessing a steep drop of 29.25% compared to 63,014 units shipped in the same period a year ago. The company ...
CCI imposes Rs 87 crore on Hyundai Motor India for unfair business practices
The Dollar Business Bureau The Competition Commission of India (CCI) has found Hyundai Motor India Limited (HMIL) for imposing arrangements upon its dealers which resulted in the inclusion of Resale Price Maintenance in the sale of passenger cars manufactured by it. The arrangements also included monitoring of the maximum permissible discount levels through a Discount Control Mechanism. Further, HMIL was found to have instructed its dealers to use recommended lubricants/ oils and penalising them for use of non-recommended lubricants and oils. The CCI has passed the final order after examining the information filed by the dealers of HMIL, Fx Enterprise Solutions India Pvt. Ltd. and St. Antony’s Cars Pvt. Ltd. Apart from issuing a cease and desist order against HMIL, CCI has imposed ...
Pune Volkswagen production up 17% in 2016
The Dollar Business Bureau Volkswagen India on Monday announced that its vehicle production from the Pune plant reached a record 145,145 units in 2016. The company’s total automobile production last year was led by its popular car Vento, with total production crossing 36,700 units. Since 2009 the German car-maker has produced 720,000 units from its Pune plant. The plant’s incremental production stood at 17% in 2016. Since 2010, this unit has so far produced 250,000 units for exports. The Pune facility also has the distinction of having unveiled earlier the first made for India car - Ameo in 2016. The facility manufactures brands such as Polo, Ameo, Vento and Skoda Rapid, and also undertakes the entire production process such as press shop and assembly. Last year, Volkswagen ...
Apollo Tyres to set up 475 millon euro plant in Hungary
The Dollar Business Bureau India’s leading tyre-maker Apollo Tyres has announced it will soon establish Europe's largest greenfield plant in Hungary with a total investment of 475 million euros to manufacture about 62 lakh tyres for passenger cars and heavy commercial vehicles per year. The facility at Gyongyoshalasz in Hungry will start production early next year and will produce tyres to cater to the entire European market. "Construction of Apollo Tyres' first European greenfield plant at Gyongyoshalasz has started on April 10, 2015 and we will start production in early 2017. It will be Europe's largest greenfield tyres plant," Apollo Tyres (Hungary) KFT, Head - Project Controller, Amitabh Arya said to PTI. Once completed, the Hungarian facility will produce 5.5 million (55 lakh) passenger car and light truck (PCLT) tyres and 675,000 heavy ...
Tata Motors exports grow 11% at 5603 units in June
The Dollar Business Bureau The exports of Tata Motors have increased 11% with 5,603 vehicles shipped in the month of June 2016 when compared to 5,046 vehicles sold in the same month last year. The cumulative exports were marginally higher by 2% at 13,816 units sold in the fiscal, over 13,510 vehicles sold in the previous fiscal, the company said in a statement. Tata Motors has registered 14% and 22% growth in the company’s Light Commercial Vehicle (LCV) and passenger car segments respectively in June 2016. The overall sales including exports of passenger and commercial vehicles have surged up 8% with 44,276 vehicles sold in July 2016, against 40,869 sales in the same month last year. The cumulative sales (including exports) were higher 6% ...
Indias automobile exports to Sri Lanka up 400% in May
The Dollar Business Bureau India’s automobile exports to Sri Lanka have increased four times and crossed $56 million in May this year compared to the same period figure last year. The country’s total automobile exports to Sri Lanka were worth $56.54 million in May this year, almost four times higher than $14.58 million registered during the same month a year ago, the Engineering Export Promotion Council (EEPC) has said. Other major destinations of Indian automobile exports included the UAE, Italy and Spain, a report said citing EEPC. The country’s shipment to UAE reached $18.59 million last month, registering an increase of 8.58% from the same month last year. Indian automobile exports to Italy were valued at $14.82 million in May this year, ...
