Exports of passenger vehicle drop 1.51%; two-wheelers up 20% in FY18
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 ...
Honda 2Wheelers overall sales up 20% at 544,508 units in July
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, ...
Auto sector to contribute 12% to India's GDP in next decade: Geete
The Dollar Business Bureau Heavy Industries and Public Enterprises Minister Anant Geete said on Thursday that the country’s automobile industry is expected to contribute 12% to the GDP (gross domestic product) over the next decade, from the current 7.1%. “Indian automotive sector plays a very important role in the country's manufacturing sector and is likely to contribute 12% to the country's GDP over the next decade,” Geete said. He said this while inaugurating a test track facility set up in Chennai by Global Automotive Research Centre (GARC) - a unit working under the National Automotive Testing & R&D Infra Project (NATRiP). The Minister said that commissioning of this facility is likely to attract greater investments in the automotive industry and its components and also expressed confidence that such ...
BMW Motorrad begins operations in India
The Dollar Business Bureau BMW Motorrad, the motorcycle subsidiary of luxury German auto major BMW, has officially begun its operations in India. Earlier, the firm was operating in the country with importers who had retail outlets in New Delhi and Mumbai. “We see a tremendous potential in this country and we are pleased to introduce BMW Motorrad as a part of the Indian subsidiary of BMW Group,” said Dimitris Raptis, Head of Region - Asia, China, Pacific, South Africa, BMW Motorrad said in a release. Presently, the two-wheeler arm of BMW is in the process of establishing a network of dealers and a team in India with Shivapada Ray already being appointed as the Head of the company. Initially, the company will set up dealerships ...
Mahindra launches Gusto scooter in 8 more states
The Dollar Business Bureau Mahindra Two Wheelers, a part of Mahindra & Mahindra Ltd, on Wednesday launched the all-new Mahindra Gusto scooter in 125cc variation in 8 more states, priced between Rs.48,410 and Rs.55,110 respectively (ex-showroom). The company had earlier launched the Gusto 125 model in southern states including Kerala, Karnataka, and Tamil Nadu. Now, it will be available across dealers in 8 northern states of Delhi, Gujarat, Goa, Maharashtra, Uttar Pradesh, Chandigarh, Punjab and Rajasthan before being rolled out all across the country, Mahindra Two Wheelers said in a statement. Vinod Sahay, Chief Operating Officer, Mahindra Two Wheelers said, “Since its launch last year, Gusto has grown consistently and we are now excited about extending the Gusto brand to include new consumer ...
'Auto exports poised for higher growth this year'
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 ...
