| The Indian automobile industry is witnessing a renewed growth with automobile sales touching a record high for the fourth time in a row in October 2010. The industry reported a growth of 45.9 per cent. The high scale movement is attributed to the festive season and the robust Indian economy, along with the numerous leading names in the automobile world, gearing up to enter India, the second-fastest growing market globally. Chrysler, Kia, Peugeot, Triumph and Scania are finalising their India blueprint, as India is set to become the fastest growing automobile market, according to a report by Ernst & Young. |
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Automobile sales rose by 45.9 per cent in Oct 2010
OIFC: Nov 11, 2010 |
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| Automobile sales touched a record high for the fourth time in a row in October 2010, with the industry reporting sales of 14,60,655 units. The overall vehicle sales grew by 45.9 per cent in comparison to 10,00,953 units in October 2009. The previous best sales were reported in the month of September 2010, when auto sales had reported sale of 13,29,086 unit...
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Five auto giants rev up for India
Business Standard: Nov 22, 2010 |
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| Five leading names in the automobile world are gearing up to enter India, the second-fastest growing market globally. Chrysler, Kia, Peugeot, Triumph and Scania are finalising their India blueprint as India is set to become the fastest growing automobile market, according to a report by Ernst & Young... |
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Automotive aftermarket sector gears up to service complex vehicles with hi-tech equipment
CII: Nov 22, 2010 |
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| Fuelled by the increasing number of vehicles on the road and ongoing aggressive expansion of Indian and foreign players, the automotive aftermarket for parts and services are growing rapidly. The aftermarket segment, which covers equipment and parts manufacturers, distributors, retailers, service providers and garages, is estimated to be worth Rs 24,000 crore... |
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Kalyani Hayes develops car wheel rim plant
Business Standard: Nov 24, 2010 |
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| Kalyani Hayes Lemmerz Ltd (KHLL), a joint venture (JV) between Hayes Lemmerz International, Inc and the Kalyani Group, has developed a passenger car steel wheel rim manufacturing plant at Chakan near Pune at an investment of Rs 70 crore (US$ 15.34 million)... |
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Govt fuels electric cars with Rs 1 lakh incentive
Business Standard: Nov 23, 2010 |
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| On the back of a Rs 95 crore (US$ 20.82 million) incentive scheme announced by the Ministry of New and Renewable Energy (MNRE), the Society of Manufacturers of Electric Vehicles (SMEV) expects sales of electric two-wheelers to double in the coming months... |
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GM India to launch 6 new models, pump in $500 mn
Business Standard: Nov 19, 2010 |
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| General Motors (GM) India plans to invest Rs 2,250 crore (US$ 500 million) over the next two years as part of its new product development and plant expansion plans. The company will launch six new vehicles, in addition to the light commercial vehicles that would be launched in 2012... |
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30% rise in CNG vehicles in 2010
The Hindu Business Line: Nov 15, 2010 |
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| Compressed natural gas (CNG) powered vehicles in India have increased to 1.01 million in 2010, a rise of 30 per cent over 2009, according to David Aitken, Advisor, NGV India. NGV India is a platform promoted by GAIL (India), Mahanagar Gas and Indraprastha Gas... |
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GM-SAIC to drive Asean market growth from India
The Hindu Business Line: Nov 15, 2010 |
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| China's SAIC Motor Corp and General Motors (GM) are planning to foray into India, to pave the way for a larger Association of South East Asian Nations (ASEAN) presence. India is expected to play an important role in this partnership where vehicles and components will be shipped out to the ASEAN region... |
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Ford to export to 48 countries from India
Business Standard: Nov 08, 2010 |
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| The US-car manufacturer Ford is planning to export cars to 48 countries from Tamil Nadu. The company which started its export of its Figo, in July, said that by the end of this year it will export 8,000 Figos to South Africa, the first export destination for the company from Chennai... |
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Auto makers post record sales in festive October
Business Standard: Nov 02, 2010 |
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| The passenger vehicle makers in India has reported record domestic sales and growth for October 2010. Maruti Suzuki India (MSIL), Hyundai Motors, Tata Motors, General Motors, Ford, Toyota and Mahindra & Mahindra sold a record 296,064 vehicles (including exports), a rise of 27 per cent over 2009... |
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Volkswagen to increase market share to 20% by 2018
The Economic Times: Oct 27, 2010 |
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| Volkswagen plans to capture 20 per cent share of the Indian automobile market by 2018, rolling out five million cars, a company official said... |