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Automakers in India will face a tough time in coming months as increasing material prices and up-gradation cost joined with new emission norms will possibly decrease the sales volume of the companies. Besides this the Indian government has increased the excise duty on the cars which in turn forced car manufacturers in the country to increase the price of their vehicles.
All major car makers including Maruti, Hyundai, Tata, and Chevrolet have increased prices of their vehicles up to Rs one lakh after the government increased the export duty by 2 percent. Government of India had provided subsidy to auto makers in India by cutting down the excise duty in year 2008 when industry was struggling with recession and decreasing sales and now as automotive industry has registered record braking sales in first two months of this year, the government has decided to roll back this subsidy.
Indian Society have given a figure of the automobile manufacturers on 8th march, In India the motorbike sales during February was upto 30.72% till 6 42,419 units, which defers from 4,91,451 units in the same month last year. Even the domestic passengers car sales raised upto 33.20% to 1,53,845 units last month.
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One more auto company has joined the bandwagon of vehicle price hiking. The new member in the list is Tata Motors. The company is to increase its vehicles price in April 2010, as it is not able to reach the extra cost in meeting Euro-IV fuel Emission norms. There will be price hike over the industry, when the Euro-IV Norms come into effects says the Tata Motors passengers car division president Rajiv Dube. As yet the price hike cannot be disclosed.
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With the presence of Global automakers in the robust Indian market, the country is developing as a platform where the companies are performing novel experiments not seen before so as to lower the cost levels. Indian automarket has always take care of the fact that the customers here are very much price sensitive which can be proved by the fact that Maruti Suzuki is dominating the automarket since last 30 years.
Tata motors launched Tata Nano last year on the theme of low cost that has achieved modest success so far. While at the 10th Auto Expo 10 new concept cars have launched but they will not be matching that level of pricing. To match the lower price range Japanese automakers are expanding parts procurement to the Indian suppliers which was previously imported from Japan.
Indian auto market has emerged as a leader in the small cars segment, overtaking Japan, as declining sales in Western markets coupled with robust growth in Asia. The Chinese auto sector is all set to overtake the US automobile sector as world's largest car market this year. At the same time the less known fact is that India will leave behind Japan for the first time in sales of super-compact cars. Indian auto market overtook Japan as the world's number one producer of basic cars in year 2007.
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