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Reacting to Government's decision of increasing excise duty to 10 percent, major automobile manufacturers in the country today said that they will increase the car prices by upto Rs 25,000. Maruti Suzuki which is India's largest car manufacturer said that it will increase the price of its car models by up to 2 percent in India. Maruti currently has around 54% market share in India. While on the other hand Hyundai Motors which is country's largest car exporter said that the excise duty hike will result in a price hike of Rs 6,500-25,000 on an average.
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The Indian automotive sector which has registered a record growth in last month, will be generating output of $145 billion by year 2016, according to The Automotive Mission Plan 2006-16. The mission plan also attributes that automotive sector will be contributing 10% of India's GDP by year 2016. In addition to this after achieving this much of growth the automotive industry will be able to provide employment to around 25 million people in the country. If the current employment pattern remains in coming few years the Indian automobile sector will possibly need about 7 million people ( for managerial/general work). Where the skilled workers will contribute to 15.5 million, the unskilled workers will number about 2.5 million, as per the reports.
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Delhi High Court suggested on Wednesday that a ‘congestion fee’ can be imposed on private cars entering in city from certain parts of Delhi to tackle the worst-ever traffic situation in New Delhi. The suggestion of imposing a ‘congestion fee’ can be seen as a decisive intervention of Delhi High Court to take on the unregulated vehicle movement in country's capital.
The high court bench made it clear that if it implements such measures actively, like imposition of a ‘congestion fee’, the capital of India will not be exempted from it. The full bench of High Court has created a task force including a traffic expert, a DCP nominee of the Police commissioner, two nominees from the private sector or drawn from autonomous institutions, a pollution control expert, a town planning expert nominated by DDA and one environment and urban development expert. The principal secretary of Delhi transport department will be the member secretary of the task force.
Vijay Mallya, owner of Force India said on Monday that his team is targeting to achieve a greater success in year 2010 on a base of exceptional performance in year 2009. Mr Mallya further elaborated that aim of the Force India team would be to score more points and more podiums this year. He also added that the Force India team achieved phenomenal performance in year 2009 with one podium, one pole position, one fastest lap, 13 points and a further five top 10 starts.
According to Mr Mallya the Force India team is aiming high for year 2010 with more Podiums as team manged to get only one podium in year 2009. Mark Smith, design director of the Force India team added to Mr Mallya's statement that the new car which team using since second half of the last year has an evolutionary machine. The VJM03 is certainly an evolution of the VJM02 in terms of the design philosophies to which Force India have developed over the last year Mr smith added.
As Indian automobile industry registered a high sales figures in the month of January this year as compared to the same period of last year, some market watchers speculated that the fear of price-hike in mid-size car segment in coming months may be attributed to a good extent in high sales figures.
According to industry experts due to demand slump in last few years the excise duty decreased from a top of 40% to an all time low of 8%, now as the market is improving and sales are growing it is expected that the excise duty can be increase from 8% to 12 % though for small cars like Tata Nano and Maruti Alto it may remain to existing 8%.
Abdul Majeed, auto practice leader, PricewaterhouseCoopers, said in a statement given to a top media group that Maruti-Suzuki, Tata Motors, Honda SIEL, Mahindra & Mahindra, Toyota and General Motors have increased their production to catch up with the increase demand. He added that some of the popular cars launched in India in the month of January like Chevrolet Beat and Maruti Eeco were also boosted the demand.
Now tyre mounting and dismounting will be much easier and safe with new Italian robotic tyre fitting equipment. The equipment is launched for the 1st time in india by Chennai based tyre dealer Siremull Hirachand's Tyrestore. The Tyrestore claims it to be the first equipment in India by any tyre dealer. Tyrestore is also the michelin priority partner for the chennai market. The unique and all new feature of the equipment is Robotic Robofit tool that ensure less physical effort while fitment without the aid of a bead removing lever. The use of this robotic tyre fitting equipment prevents tyre, wheel and sidewall damage up to 50 per cent.
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Automobile sector in India has continued to performing well as in the first month of this year as almost all major car manufacturers registered good sales growth compare the same period of last year. Maruti Suzuki India registered a 33% increased in its sales as compare to same period last year with a record sales of 95,649 vehicles in January this year including good export figures.Maruti's domestic sales increased by 21% in January 2010 as compare to the same period of last year to 95,649 units. Company sold a record number of its A2 segment of cars which includes Maruti A Star, Maruti Suzuki, Maruti Wagon R, Maruti Swift and Maruti A-Star. In total the A2 segment increased by 25% to 58,540 units. 0n the other hand the sedan range of the company which includes Maruti Swift Dzire and Maruti SX4 increased by 37% to 8,995 units for the period of January this year.
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A series of car dealers from across the world which includes America’s largest auto retailer AutoNation and UK-based multinational chain Inchcape are all set to enter in the Indian auto market which has been growing rapidly since last few years. Besides this major international dealership chains like the largest car dealer Saud Bahwan from Oman and Al-Futtaim Motors from UAE are already in talks with some of world's largest car manufacturer like Toyota, Honda, Volkswagen, BMW and Mercedes to make their way through India.
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Indian auto companies are under going pressure to spend significant amounts on R&D and new product launches as customers’ interest cannot be sustained unless companies launch new products. This has become necessary for the auto companies to face tough competition against global rivals such as Honda, Toyota or General Motors (GM). The total expenditure of the local auto companies on R&D as a percentage of sales are low compared to global players which are looking to attract consumers with superior product innovations and cheaper, compact models. At the 10th Auto Expo Toyota showcased Etios, Volkswagen launched its Polo while GM launched Beat, all cars designed specially for Indian market.
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According to the Fitch Ratings, 2010 will be a good year for Indian auto industry as the industry is likely to see a growth of 10-12 per cent in sales. But as the competition increases with the new players entering the Indian small car market, companies will come under margin pressures. With the increasing competition Suzuki India (MSI) and Hyundai Motor India (HMIL), leaders in their respective segments will face challenge to their position. Fitch in its report 'Indian Auto Sector Outlook' reported that it expected the overall Indian auto sector to witness an overall growth in sales of 10-12 per cent during 2010.
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Toyota seem to be gearing up in the race to present its Sedan for the bottom end market priced below Rs. 10 lac which will be a mid size version of Etios.The Etios sedan will be priced competitively and could go below the company's existing Honda City that is priced around Rs. 9.5 lac.
It seems that Toyota is the only manufacturer that is interested in launching low end sedans. Other companies, in no mood to do that,will be targetting the high end customers with cars priced above Rs. 20 lacs.The sale is expected to reach up to 10000 units each year.
The automobile industry on Friday urged the government to postpone the implementation of new Bharat Stage-IV emission norms which is scheduled tobe implemented in 11 cities across India starting from April 1. According to Mr Pawan Goenka, president of industry body the Society of Indian Automobile Manufacturers (SIAM), there is a serious concern over availability of upgraded fuels in all parts of the country. “SIAM has already made representations to the government that implementation of the new emission norms be postponed by 3-6 months in regions where fuel is not available,” Mr Goenka added.
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In 2010/11, domestic vehicle sales are seen rising by 12 to 13 percent but the rising costs could hinder the sales growth. The vehicles sales have shown a growth of 22 percent with car sales showing a growth of approximately 24 percent in the first nine months of current fiscal year. However annual vehicle sales growth in the January-March quarter is expected to be lower compared to the previous quarter's growth, due to the higher base effect. Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) commented that if the transaction costs had gone up then the demand would go down.
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Car sales in India dropped dramatically in December against rest of the year 2009. Thanks to holidays and general assumption of December being inauspicious for new purchases. The car sales growth for the month would be 8 to 9 per cent this month. Contrary to this month, the period of April to November saw best growth figures for all the major auto companies. For instance, Honda Siel Cars India car sales rose 32 per cent in the above said period. It is to be noted that the car sales in India rose 22 per cent in the April-November period due to new car launches, rising incomes and cheap funding by banks. In November only, car sales moved up 67 per cent. The passenger vehicles sales is projected to 18 lakh by the end of current fiscal as compared to 15.5 lakh of fiscal 2009.
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Contrary to news of hike in car prices, car buyers can avail discounts of Rs 5,000 to Rs 60,000 till December 31. According to dealers, the car companies want to clear the stock of cars by January 15, 2010 as fresh stock will come to dealers by the mid-January, hence the discounts. But the discounts are not offered for popular cars in India. As per a car dealer, Honda Civic, Honda City, Hyundai i10 and Hyundai Santro have a Rs 35,000 discount while Skoda Laura Ambiente, petrol version, can be availed at Rs 12 lakh (Thane, non-octroi) as against ex-showroom price of Rs 12.75 lakh. Similarly, Maruti WagonR is available at a discount of Rs 30,000. On the other hand, some cars are having discounts in packages like Chevrolet Spark which comes at a discount of Rs 47,000 including a free maintenance worth Rs 13000 and a double DIN Kenwood stereo worth Rs 11000.
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Auto makers in India are forced to increase their car prices up to Rs 20,000 in a month or so since the raw material cost has moved up by 10 to 15 per cent along with rise in yen valuation. New emission norms are also forced car companies to hike the prices of popular car models in India like Honda Civic, Maruti Swift and Mahindra Scorpio. Mahindra and Mahindra chief Pawan Goenka said that steel and metal prices are under pressure and the suppliers of these are indicating price increase from quite sometime thereby they need to increase prices to maintain healthy profits. Maruti Managing executive officer Mr S Maitra said that its raw material prices must be 5 to 7 per cent more than the first half of the FY 09. However, final decision is to be taken with suppliers. In the same way, imported vehicles are also expected to be having increased cost due to the recent fluctuations in the Japanese currency-yen.
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Car major have approach the government to extend the April 2010 deadline for emission by a couple of months that any mismatch of fuel can have an adverse effect on engines. Car maker are ready to make their vehicles complaints, the government has been unable to upgrade in Uttar Pradesh, Bihar, NorthEast and West Bengal. Engines are designed according to fuel specifications, petroleum ministry has ensure that eleven metros of the country would adopt Bharat Stage IV emission norms.
Car maker has asked government to find out the solution as soon as possible because delaying this matter will affect the future product plans. New car launches are geared up to meet the mandated emission standards and some of the coming models need changes and upgraded engines.
Government of India is in the final stages of finalizing norms for fuel efficiency standards for automobile industry in India which will be active by 2011 the Environment Minister Jairam Ramesh told. Jairam Ramesh also told that the transport industry contributes nearly 10-15 percent of the Total Greenhouse Gas emissions in India. The government is also contemplating on reducing duty structure on import of hybrid cars and electric cars in India.
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Indian auto market is growing leaps and bounds thereby helping most of the global auto players to bank on the country. Indian arms of Hyundai, Honda and Suzuki are contributing a major share of their revenues from here only whether it is sales or profits. The Indian arms are also giving them upper hand when global recession affected most of the auto players even a few were declared bankrupt. Take Hyundai for instance, its Indian subsidiaries contribution is between 15 to 20 per cent to global revenue. Interestingly, the profit from Indian operation is better than China on account of domestic sale and export.
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Maruti, Hyundai, Tata Motors and other car makers have begun advertising heavily through cellphones, which is generating higher buying decisions among Indians this year compared to global buyers.
The mobile phone advertisements constitute 31 percent of buying decisions among Indians — globally this is only 8 percent according to the latest estimates from Carsonline.
Around 30 percent of car buyers are influenced by TV and print ads in India, while globally this figure is just around 19 percent. Mayank Pareek said, "Digital marketing is the most potent way of targeting a customer directly and there is a huge potential."
The biggest festive season is at hand and car makers are making all preparation to grab the most of the sales that is a common phenomena in the country. In order to fill the demand for the season, car companies are to hire more workforce. According to a rough estimate, the companies are to recruit about 5,000 workers to produce about 70,000 units. Maruti Suzuki, Hyundai Motor India, Honda Siel Car India, Tata Motors and Toyota Kirloskar Motors are to hire a good number of skilled personnel for the upcoming task. Maruti Suzuki will hire 150 skilled personnel in this quarter while 215 engineers will be recruited by March 2010 for its R and D team.
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Hindustan Motors launch New Deisel Engine model of Ambassador. It has been designed entirely on their own at its Uttarpara factory. It contains Diesel Engine plans to launch LPG and CNG versions of the Ambassador next year. This model contains many functionality like upgrated engine. HM also introduce buy-back scheme.
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