Search Result for : Passenger Vehicles

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  NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...

By Abin Daya The US Fed hiked interest rates by 25 bps this week, and also signalled that they would be increasing rates at least twice more this year. The Fed rate hike was on expected lines, and there were more than enough signals from officials about the intended decision. They are feeling good about the economic growth, and are worried more about inflation than about growth. However, whether all those expectations will come to pass, we have to wait and see. Closer home, inflation concerns are raising their head again and this will impact monetary policy going forward. The general perception is that RBI will hold the rates at the current level in the next monetary policy announcement in April. Again, need ...

The Dollar Business Bureau French automobile manufacturer Renault plans to introduce at least one new vehicle every year in the Indian market till 2021, comprising vehicles in the high selling sub-four metre division, even as the company aims to cross 5% market share in the local passenger vehicle segment by the year-end. “We plan to launch at least one new product every year, over the next five years, beginning with some exciting product innovations starting this year,” Sumit Sawhney, Managing Director Operations Country CEO of Renault India told PTI. The French auto major will keep launching ‘game changing products’ in India as it has been doing over the last few years, he said. Currently, Renault sells five models in the domestic market including hatchback Kwid and SUV Duster.  “India ...

The Dollar Business Bureau Mahindra & Mahindra Ltd (M&M) has registered 7% decline in tractor sales in July 2016. The Farm Equipment Sector of the $17.8-billion Mahindra Group sold 1,101 tractors during July 2016, against 1,187 tractors in the same month last year. Within the country, the company has reported 15% growth in tractor sales at 16,452 units in July this year, as against 14,273 units during the corresponding month last year. The overall tractor sales including domestic sales and exports rose 14% at 17,553 units in July 2016, when compared to 15,460 units in the same month previous year. With normal rainfall and improved spread across India in July, Kharif sowing has been more than last year, said Rajesh Jejurikar, President and Chief ...

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% ...

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 ...

Deepak Kumar | The Dollar Businesss Despite the global slowdown, India’s auto exports are likely to gain further momentum as there are favorable reasons to expect wide-scale growth, said experts. “Currently, India’s automobile industry is at a very interesting curve. Last year was great from the point of view of India’s automobile exports. Despite the global slowdown, India’s auto export is expected to scale further,” an industry expert told The Dollar Business. In April-August 2015, India’s automobile exports grew at 8.60%. Commercial vehicle exports recorded the maximum growth at 25.86%, followed by three wheelers at 23.53%, two wheelers at 6.60% and commercial vehicles at 4.92% over the same period last year. In the financial year 2014-2015, overall automobile export registered a ...