Domestic sales dropped 1.6% to 1,36,849 units last month as against 1,39,100 units in February 2019. Sales of mini cars, comprising Alto and WagonR, stood at 27,499 units as compared with 24,751 units in the same month last year, up 11.1%. Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, declined 3.9% to 69,828 units.
MG Motor India on Sunday reported retail sales of 1,376 units in February, hit by component supply constraints from coronavirus hit-China and other locations.
The company is investing USD 400 million on its first manufacturing plant at Sanand in Gujarat, where it is working to hike output to 60,000 units of two-wheeler tyres per day from the current 20,000 units a day, as part of the project's phase I expansion.
Concorde has registered a loss for five consecutive years, with cumulative losses crossing Rs 366 crore. The winding-up process is in the final stages and it will be completed before fiscal-end. The company had 34 showrooms and 17 workshops with a workforce of 2,200-plus at end of FY19, which are on the last stage of liquidation.
Alyte, run under Mahindra Logistics; Meru Cabs, in which Mahindra group owns 55%; etaxi service Glyd; and First Choice, M&M’s used car business, will be housed under the new mobility services vertical. M&M plans to roll out a mobile application for Alyte in the next month. It will work on the basis of contracts with companies.
Two years back, the Supreme Court had said that no Bharat Stage IV vehicle shall be sold across the country with effect from April 1, 2020. So carmakers are now in a hurry to sold out their remaining BS4 stock ahead of the deadline. Thus Hyundai is also trying to clear its inventory with huge discounts this month.
The report by the US India Business Council (USIBC) and Confederation of Indian Industry (CII) suggested India should consider bringing down the import duty on high-end motorcycles (that include Harley Davidson motorcycles) to 0% to provide a thrust to India-US trade.
The automaker plans to roll out its first vehicle by the first quarter of 2021, within a year of acquiring the Talegaon factory from General Motors. This would be followed by an electric vehicle and mid-size SUVs by 2022-2023, said several people in the know.
The BS-VI compliant new Endeavour is powered by a 2.0-litre EcoBlue engine mated with 10 speed-automatic transmission, the company said. "The introductory prices of 2020 Endeavour will only be valid till April 30, 2020, post which the ex-showroom prices will see an upward revision of Rs 70,000," it added.
The company, which has eight CNG models currently, has already commenced work to make all small cars in its portfolio available in the fuel option, going forward. Maruti Suzuki also has plans to bring to the market the parallel hybrid technology developed by parent Suzuki Motor Corporation (SMC).
The BS-VI petrol Vitara Brezza is powered by 1.5 litre K-series engine with 5-speed manual and automatic transmission options with smart hybrid, the company said in a statement. The new petrol Vitara Brezza was unveiled at the Auto Expo 2020 held earlier this month.
Scrappage policy for old cars and two-wheelers could create fresh jobs, boost growth. The automobile industry wants the policy to cover all segments, including cars and two-wheelers and not just commercial vehicles, to create a significant scale for new players to participate in this new market.
"Auto sales continue to be in the negative territory in the month of January, except for three wheelers, with many consumers still not concluding on their decisions. Ongoing transition of BS-IV to BS-VI is also a factor in delayed purchase decision," FADA President Ashish Harsharaj Kale said in a statement.
The model has already sold nearly 20,000 units since its entry into India last year. Now the company is planning to bring a 6-seater version of the car called Hector Plus in Q3 this year to further strengthen the Hector brand in India. It is also planning to make MG Gloster available in the market by Diwali 2020.
The latest version of Creta was shown at the auto expo with new alloy wheels and cascade grille along with harp headlamps with projector units and LED daytime running lights. The new Hyundai Creta will come with Sensuous Sportiness design language. It gets features like a panoramic sunroof, LED headlamps, BlueLink 1.5 etc.
While claiming that no proposal is on the table at this time, Munjal said about the possibility of partnership with a premium maker, “The sooner it happens, it’s good for everyone.” It is understood that the American company held talks with Hero Moto-Corp recently as it firms up a long-term local plan for India, something it did in China a few months ago.
French carmaker Renault, which has managed to secure a foothold in the Maruti Suzuki-dominated mass market space in India, is set to pose further challenges to the market leader by rolling out a small SUV, sedan and electric car in the next 12-24 months.
The new Ignis is powered by 1.2 litre petrol engine and comes with manual and Auto Gear Shift (AGS) transmission options, the company said. The model comes in four variants with manual transmission option priced in the range of Rs 4.89-6.73 lakh, while the AGS options are tagged between Rs 6.13- 7.19 lakh (all prices ex-showroom Delhi).
Hero MotoCorp Chairman and Managing Director Pawan Munjal said, “We have invested $600 million in R&D since commencing our solo journey in April 2011. We have put in another Rs 10000 crore in setting up manufacturing facilities and developing new products for the market."
Researchers at the Atomic Minerals Directorate, a unit of India’s Atomic Energy Commission, have estimated lithium reserves of 14,100 tonnes in a small patch of land surveyed in the Southern Karnataka district, according to a paper to be published in the forthcoming issue of journal Current Science.
Pre-owned vehicle exchange platform Shriram Automall India Ltd (SAMIL) on Monday said it has acquired BlueJack, an online car selling portal.
Design and technology services firm Tata Elxsi on Monday announced partnership with group firm Tata Motors for developing a unified connected vehicle platform.
The masses and the classes are spectral ends too wide apart for a Japanese carmaker to straddle in India, and Toyota seems better off relying on the leader Maruti to retain its identity in the more competitive segment of the layered and complex home market.
Separately, India has also sought a reduction in the H-1B visa fee as part of ongoing trade negotiations with the US. Washington has proposed doubling the cost of such visas to $3,000-4,000. Officials said India has pushed for a reduction in this cost.
Carmakers will be launching new products as these are a key factor in reviving demand and registering growth. Some of this will go into setting up new capacity as well. Close to two dozen new models will hit the road in the next 12-18 months as passenger vehicle makers hope to generate excitement and revive sentiment.
Maruti Suzuki India launched S-CNG variant of its BS-VI compliant new WagonR price starting at Rs 5.25 lakh in line with its aim to sell one million green vehicles in the next couple of years and to comply with Mission Green Million.
India has the potential to become one of the largest EV markets in the world, with the government pushing for the segment in order to curb pollution and reduce reliance on import-dependent fossil fuel, says a World Economic Forum report.
As per government direction, all new vehicles sold or registered in the country must meet BS-VI regulations from April 1. While some automakers like Toyota Kirloskar have already shifted their production to BS-VI, others are in the transition period.
Tata Motors has now turned its focus on sales and marketing with a long-term aim of achieving 10% market share in the domestic car market.