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The Indian auto industry which has started the year with the international auto show at New Delhi registered a jump of 32 % in its January sales due to easy available loans on low interest rate. While the domestic passenger car sales in January, 2010 increased by 32.28 per cent to 145,905 units from 110,300 units same period last year. Motor Cycle sales grew even higher, increased by 43.69 per cent to 650,633 units as compare to 452,809 in January 2009.
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Indian Automobile Industry today announced that it has registered highest-ever sales figures in the month of January to 11 lakh units. According to market analysts major factors behind this huge sales growth was easily available retail finance and low interest rates for new cars as well used cars.
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The automobile industry in India has suspected that the Budget-2010 may make buying new cars in India more expensive as a result of a possible increase in tax rates. Industry officials on highest level apprehended that government of India may curtail a significant part of the stimulus package which was provided at the time of global recession.
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Vijay Mallya, owner of Force India said on Monday that his team is targeting to achieve a grater 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.
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Waiting period for new cars in India became longer now-a-days! After a number of new car launches in India, demand of the cars increased and resulted in long waiting period. The waiting period may be from 20 to 45 days. The growing demand for the cars caused the problem and the demand grew due to new cars in India. These cars include Maruti Ritz, Maruti Swift Dzire, Maruti Wagon R, Hyundai i10, Hyundai Verna, Hyundai i20 Chevrolet Cruze, Chevrolet Aveo, Fiat Linea, , Chevrolet Captiva, Honda CR-V and Toyota Fortuner. However, the cars like Maruti Alto, Fiat Linea, Maruti 800 are not in the competition.
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Tata Nano has become an ideal for the auto world and many are impressed with the small car. Bajaj, Nissan and Mahindra Renault are working hard to develop a new small car that is to be available not only in India but abroad. Chief of Mahindra Renault and Nissan alliance Carlos Ghosn told here in India that the trio, Bajaj, Nissan and Mahindra Renault, is working to develop the compact car and it is expected to done by 2011. He added that the car would be priced between $2,500 to $3,000.
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India being the most favoured hub for outsourcing as well as manufacturing today has emerged as Asia's largest car exporter to the world. Hyundai Motors and Maruti are two of the largest exporters of small cars from India.
Hyundai Motors India Limited has already exported nearly half of its production across the globe especially in Europe. Maruti has also doubled its exports figures this year.
Those who missed are big time losers as their favourite cars during the festive season may end up shelling out 8-10% more now. Looking at the soaring demand for popular models, companies have ended discount offers. Popular cars such as Maruti Alto, Maruti Wagon R, Hyundai Santro, Hyundai i10, and Chevrolet Spark are set to get costlier soon and will beget their makers more profits. "With demand already high and a huge waiting period on many popular models, the coming weeks will see a drop in rebates," said Mayank Pareek, Maruti’s executive officer, marketing & sales. Most of the popular models are in huge demand and currently have a waiting period of up to six weeks.
Maruti scored highest sales in the July-September period selling 2.09 lakh cars. Several of its top models such as Maruti Ritz, Maruti Swift and Maruti Swift Dzire have long waiting periods. Discounts on its popular models like Maruti WagonR could be cut from Rs 45,000 at present to Rs 15,000-20,000 soon. Hyundai’s best selling Hyundai i10 hatchback that was fetching a rebate of Rs 36,500 till a few weeks ago will now see a drastic decline in discounts. According to Hyundai dealers’ benefits on the Hyundai i10 could be around Rs 15,000 now.
It is a festive time for the used cars auto market in India. Used car dealers have seen a rapid demand in the market for used cars in past 9 months. With the fear of recession, financers and banks have also relaxed their financing norms and conditions and are ready to offer finance to salaried and self-employed.
There’s been no adverse impact on sale of used cars sold through Maruti True Value. Chevy OK is owned by General Motors that sells Chevrolet cars through its retail stores. There are currently 22 outlets which GM India intends to expand up to 30 by December 2009.
Over 100,000 workers in more than 70 auto factories in RICO plant, Gurgaon disrupted the work by joining a one-day strike, impacting production in the country’s largest auto hub. India’s largest automobile companies such as Munjal-promoted Hero Honda and Honda Motorcycle and Scooters India Ltd (HMSI) were impacted by it.
Gurgaon-Manesar-Bawal auto hub in Haryana accounts for 60 per cent of the country’s auto production and employs about one million workers. The strike that had hit Gurgaon auto hub was called upon to protest against the management for the death of 26-year-old worker Ajit Kumar in component maker RICO Auto on October 18 after sustaining an injury during a clash between two groups of company employees. The agitation caused violence, with a RICO Auto official beaten by workers after the management declined to withdraw cases against 16 workers for earlier misconduct.
Suresh Gaud, Gurgaon District Secretary of the the All India Trade Union Congress (AITUC), affiliated to the Communist Party of India, has claimed victory for the strike. AITUC claims that companies have been hiring armed guards to control workers by physical force and they have already brought this to Prime Minister Manmohan Singh’s notice. Most managements in the area are trying to play down the incident, broadly viewing it as another attempt by AITUC to spread its influence. “Except for the two factories (RICO and Sunbeam which supplies to the Hero group) where there was a problem, I don’t think any other factory was closed. About 4,000 to 5,000 workers from various factories joined in the prayer meeting to show their sympathy for those who died,” says Surinder Kapur, chairman of the Sona group, which has many factories based in the belt.
“Workers are boycotting work and have joined the procession, though the general office staff has reported for duty. The assembly lines are not working,” a senior Honda Motorcycle and Scooter India (HMSI) official said to agencies. Hero Honda, the world’s largest two-wheeler manufacturer, and its management also admitted that the strike has made some impact on production. “The recurring labour issue in the Gurgaon-Manesar belt is severely impacting the industrial environment in the state, and hence it is indeed a concern for all industry. The ongoing workers’ problem at some of the auto component suppliers’ plants has impacted our operations.” There is also shortage of components which has affected production. However, there has been no impact at the Dharuhera plant because today was a planned holiday as part of the Diwali festivities.
Customers will be confused what to pick up from the new sports utility vehicle (SUV) segment as in the coming months SUV carmakers line up many launches. The new challengers, such as Hyundai Santa Fe, Volkswagen Tiguan, Skoda Yeti, Audi Q3, BMW X1, Nissan Murano and Suzuki Grand Vitara diesel, will double the number of SUV models available in the domestic market. Tata Motors, back home is readying a new vehicle and Mahindra & Mahindra will debut its second-generation Scorpio by 2010.
A big chunk of these car makers are rushing to launch their products ahead of schedule after the Toyota Fortuner, launched on August 24, got an overwhelming response from customers. The Rs 18.45-lakh (ex-showroom Delhi) SUV notched up 5,500 bookings in the first week of launch, which is roughly half the size of the domestic premium SUV market.
“The demand was always there but Fortuner was the right SUV the Indian customer had been waiting for and it became the segment leader right from its launch,” said Sandeep Singh of Toyota Kirloskar Motors.Ford India, whose Endeavour was the market leader till it was displaced by Toyota Fortuner, plans to bring in a second SUV to India and that might give it some competition though.
A blend of auto major companies like Mahindra Renault, Nissan, General Motors, Mercedes-Benz, Volkswagen, BMW have planned to develop electric cars that price above $20,000 per car. These car companies, along with Reva are understood to be working with the Central and state governments in order to develop infrastructure and get tax sops for better pricing. Recently, Reva has tied up with independent auto designer Dilip Chhabria to work on it's looks and has tied up with General Motors India to develop electric vehicles for the Indian market.
Reva, intends to sell 30k vehicles in three years. The electric vehicles produced by Nissan and Mahindra Renault will be powered by batteries developed by AESC, a Nissan-NEC JV. K Tokuyama, MD and CEO of Nissan Motor India also told that they want to launch the EVs in the Indian market and a lot will depend on government support.
Car companies Hyundai, Honda, General Motors and Ford sold many cars in September as buyers — lapped up cheap financing schemes offered by banks flooded with deposits. But Maruti, which accounts for about half the cars sold in India, missed the record as it suspended production of the Maruti SX4 sedan. Total car sales poped to over 1.53 L in September, from highest monthly sales of 1.29 lakh units reported in March 09, provisional numbers released by companies showed.
Consumers even purchased during shradh — that is considered an inauspicious period in the Hindu religion but sales actually spiraled up in the last ten days, with many of our models going off the shelf.“Money is coming into the system and the higher liquidity could result in even better volumes in October and set a bigger sales record in the domestic auto market,” said Ramnath Subramaniam, director (research) at capital market firm IDFC-SSKI Securities.
For Maruti Suzuki, which sells Maruti Swift and Maruti Alto, sales had rose to 11%, a six month high, against 64,682 cars a year earlier. Its exports surged 85%. In March sales of its once best-seller model Maruti 800 fell by 8%. The launch of Fiat Grande Punto and Fiat Linea boosted Tata Motors’ car sales. The company, which also sells Fiat’s models, said sales rose 23% to 20,743, including 2,567 units of Fiat from 16,829 last year same month. Tata Nano, the world’s cheapest car, sold 2,524 units. Hyundai reached its best sales in 11-year history in the country. Domestic sales grew 25% to 27,803 cars, from 22,311 cars a year ago. Exports grew 9% to 26,001 cars.
Anumita Roychowdhury, Associate Director, Center for Science and Environment (CSE) said that till date no steps have been taken regarding the fuel economy norms that are lacking in India. The CSE has urged the government to enforce stricter rules on fuel economy standards in India.
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Ford Motors Leading car manufacture of US is all set to add 1000 new employees in its Indian operation. The decision is coming at a time when all over the world companies of auto sector are cutting down jobs. According to company this decision has been taken to complete its small car project in India. According to Ford Motors the project is running on track and is expected to complete by the year 2010.
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US based car manufacturer Ford Motors is planning to launch its new small car India soon. According to a statement given by Ford India President and Managing Director Michael Boneham in media the company's plans to launch the are running on track and company is expected to launch new small car by year 2010.
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At the time when global auto sells are at all time low and governments of many auto sector giants are in the need of bailouts the big player of auto sector BMW is optimistic of good sells in India in the coming years.
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Auto companies moved up in January and generated a hope in auto segment in India. Maruti Suzuki increased sales by 5.6% in January this year. It touched 67,005 units figure. Mahindra & Mahindra introduced new models in the market. Compared to the last year, but sales numbers were less. But company managed to sale 1,788 vehicles last couple of weeks. Xylo perfomed well which was recently launched.
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Despite of recession, big auto companies posted positive sales in India in the month of January. Maruti Suzuki India, Biggest car maker in India, has touched its highest-ever domestic and total sales in January this year. There is a increament of 5.6% in the sale of Maruti's car which stood at 67,005 units. Maruti posted retail sales of 76,700 vehicles in December, its highest ever, clearing the stocks piled up at dealerships.
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The China's automobile sector is doing more than that of India as Tata motors, Hyundai and Maruti, biggest player of the indian auto sector, are facing loss in profit of Q3 . Merrill Lynch in its report on Asia's auto sector has said that the country's recent state-sponsored measures to boost demand is expected to benefit its sector there.
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