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Indian Automobile Industry News

Discussion in 'World Economy' started by Gessler, Jan 11, 2015.

  1. Gessler

    Gessler Lt. Colonel Technical Analyst

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  2. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Tata unveils Bolt Sport at Geneva Motor Show 2015

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    Tata Motorsunveiled a performance-oriented version of the Bolt hatchback yesterday at the ongoing 2015 Geneva Motor Show. Christened the Tata Bolt Sport, this will be the first hot hatch from the home-grown automaker. This will be launched under the company's new performance brand, which is likely to be introduced in the country by the end of this year.

    The Tata Bolt Sport will be propelled by the same 1.2-litre turbocharged petrol engine that also powers the Zest and the regular Bolt variant. However, the engine on this one is tuned for higher performance, and puts out a maximum power output of 120bhp at 5,500rpm and a peak torque of 170Nm between 2,000rpm and 3,000rpm. It comes paired to a 5-speed manual gearbox that sends power to the front wheels of the car. The Sport version also gets newly designed 17-inch alloy wheels.


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    Just like the regular model, the Bolt Sport also offers multi-drive options - Eco, City and Sport. It gets a new grille, new projector head-lamps, sporty body kit with new rear bumper, etc. The cabin too gets some changes like black leather upholstery with contrasting red stitches and accents, sunroof, Harman touch-screen infotainment system with voice recognition and SMS readout, etc. It also gets speed-dependent volume control. As far as safety features are concerned, the hot hatch comes with anti-lock braking system (ABS), corner stability control, and dual airbags among other relevant provisions.

    Tata Bolt Sport Showcased at 2015 Geneva Motor Show; Offers More Power - News

    It's the Hot Hatch revolution in India!

    After Volkswagen, Fiat and Toyota, now Tata wants to join the hot hatch race to deliver affordable performance-based hatchbacks for
    the enthusiastic driver!
     
    Zeus_@21 likes this.
  3. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Share of SUVs grow to 30% as Indians find it more luxurious than sedans
    Even as the domestic market for luxury cars remains static, with sales of around 35,000 units, SUVs are lifting the sentiment for manufacturers.Chanchal Pal Chauhan | 04 March 2015, 8:35 AM IST

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    Mahindra Scorpio

    NEW DELHI: Indians love their SUVs, and the growing desire to own one has made India one of the fastest growing markets for these off-road machines, at least in the luxury space. Manufactures of luxury SUVs such as Mercedes-Benz, BMW and Audi are virtually struggling to meet the demand.

    Even as the domestic market for luxury cars remains static - with sales of around 35,000 units for the past three years - SUVs are lifting the sentiment for manufacturers. Buyers have to wait for four months to as much as a year for taking delivery of luxury SUVs, as most models remain sold-out.

    As a percentage of total sales, SUV have grown to more than 30% of the total luxury vehicles sold in India. Companies say in a diverse market like India, which has one of the most challenging road conditions, these all-wheel-driven SUVs become the first choice for the rich because they offer both functionality and comfort.

    "Our legendary Quattro allwheel drive system is designed for such terrains. It not only enhances the off-road capability of our SUV, but also ensures better safety for the customer," says Joe King, head of Audi in India. India has already climbed on to the list of Top 10 markets for some luxury SUV models. Mercedes-Benz's GL Class, priced at Rs 80 lakh before road tax and insurance in Delhi, and Audi's Q7, which comes in a similar price band, are among the most sought-after luxury SUVs.

    In the luxury space, sedans have historically been the preferred choice for Indians. But the auto makers are now seeing a marked shift in customer preference, and they are eager to meet the demand. Mercedes-Benz, since it debuted the SUV range in India in 2009, has seen a massive jump in sales. The company sold more than 2,500 SUVs in the Indian market last year, and according to it, the top-end GL and ML formed more than a quarter of its total sales in India.

    The company assembles the ML-Class and GL-Class in India to reduce their price because the tax on fully built vehicles is as much as 170%, compared with about 100% for locally assembled units. In 2012, India became the first market outside the US where it assembled the ML-Class. Mercedes-Benz started assembling the GL-Class at its Pune plant the following year, underscoring the importance of these models for the Indian market.

    "SUVs have grown the fastest in our entire portfolio, with robust growth of approximately 90% in 2014," says Eberhard Kern, managing director and chief executive of Mercedes-Benz India. "The preference grows in the niche and high-end sporty AMG portfolio, where close to 50% sales are from SUVs like the GLA 45, ML 63, GL 63 & G 63 AMG, which costs up to Rs 2 crore at our dealerships."

    Analysts tracking the industry portray a gleaming future for the segment. The luxury SUV market has seen good growth and numbers are projected to shoot above 1 lakh by 2019, a 10-fold increase and making it the one of the largest markets behind the US, China, German and Japan, according to consultants IHS Automotive.

    Share of SUVs grow to 30% as Indians find it more luxurious than sedans | ET Auto
     
  4. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Ford to open second manufacturing facility in India
    The carmaker will manufacture the new Ford Figo and Figo Aspire compact sedan at its new production facility in GujaratZigwheels.com | 13 March 2015, 12:26 PM IST

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    Ford is all set to further bolster its presence in the country. The carmaker will inaugurate its second production facility in India at Sanand, Gujarat. Reports suggest that Anandiben Patel, Chief Minister of Gujarat is likely to inaugurate this newly built plant on March 26, 2015.

    The Sanand plant will be built with an approximate investment of Rs 6,000 crore. Ford already has a production facility in Chennai. With this new facility being operational by month end, the carmaker's annual production capacity will double.

    The Sanand facility will manufacture the new Ford Figo and its forthcoming new compact sedan. The vehicles are expected to launch in a couple of months with a formal announcement soon.

    Ford's new plant is located near Tata Motor's Nano car factory in Gujarat. This new plant will have a total installed capacity of 2.4 lakh vehicles and 2.7 lakh engines per annum.

    The carmaker plans to use the Gujarat plant for exports to Asian markets, besides catering to the local demand.

    Photo Credit: Getty Images

    Ford to open second manufacturing facility in India | ET Auto
     
  5. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Scania opens first bus plant in India at Rs 300 crore; likely to hire 300 people

    The bus manufacturing plant built at Rs 300 crore have current capacity of about 1,000 units per year and will employ 300 people in its first year.30 March 2015, 4:01 PM IST

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    ETAuto Bureau


    Bangalore: Scania Commercial Vehicles India Private Limited today announced the inauguration of its bus manufacturing facility in Narasapura near Bangalore. The bus manufacturing plant built at Rs 300 crore have current capacity of about 1,000 units per year and will employ 300 people in its first year.

    Martin Lundstedt, President and CEO, Scania CV said: " The vision for Narasupura is clear it is a world class facility serving both the Indian market and becoming a hub for exports to other markets in Asia. Scania has and remains committed to bringing global technology and manufacturing practices to the countries in which it operates. Here in India, we will always strive to create a win - win situation for our partners. The goal is to draw on local talent and competence and combine it with global experience - making all our facilities part of our global network and in turn creating tremendous value across our global value chain."

    Also Read: Scania plans fresh investment, to make India one of its top 5 markets globally

    In October 2013, Scania inaugurated its truck manufacturing facility in Narasapura. Scania has collectively invested around Rs. 300 crore in their truck and bus manufacturing facility. The current yearly capacity of the manufacturing plant is 2,500 trucks and 1,000 buses. The bus plant will also serve as an export hub for regions such as Asia, Middle East and Africa Over the next five years, Scania aims to double its production capacity by 2,500 units of buses and 5000 units of trucks and recruit about 800 employees by the end of 2017.

    Scania's promise of delivering sustainable transport solutions in India takes a major step forward with the bus manufacturing plant. The plant will house a bio-gas production unit and will locally assemble ethanol buses. The company will also broaden the scope for manufacturing more products powered by alternative fuels, which will catalyse sustainable development in India to a whole new level.

    Also Watch ETAuto interview with Henrik Henriksson, Global Head of Sales & Marketing Scania AB

    --

    Scania opens first bus plant in India at Rs 300 crore; likely to hire 300 people | ET Auto
     
  6. Gessler

    Gessler Lt. Colonel Technical Analyst

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    India to become world's 3rd largest automobile manufacturer by 2020, says Ford MD David Dubensky
    The automotive sector has a direct bearing on the economy with a near 7 per cent contribution to the GDP: David Dubensky, President and MD, Ford.PTI | 30 March 2015, 7:50 AM IST

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    COIMBATORE: India's automotive industry is expected to reach 7 million vehicles milestone by 2020, making the country the third-largest auto manufacturer in the world, behind the US and China, a top official at Ford Motor has said.

    The automotive sector has a direct bearing on the economy with a near 7 per cent contribution to the GDP, playing an important role in the development of other crucial sectors as well, David Dubensky, President and Managing Director, Ford Motor Private Ltd, said here today.

    Addressing the students at the graduation function of the Kumaraguru College of Technology, Dubensky said India is one of the largest automobile manufacturers in the world and as the country moves towards this milestone, the opportunities to build a career in the automotive sector are tremendous.

    He said by working together as one global team over the last 110 years, Ford been able to fully leverage the resources around the world.

    "We are building great products, creating strong business, and contributing to a better world", he added.

    Advising students to be open, flexible and willing to learn, even if the lesson is a hard one, Dubensky said, "Bring people together, and work together, for something bigger than yourself."

    India to become world's 3rd largest automobile manufacturer by 2020, says Ford MD David Dubensky | ET Auto
     
  7. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Bajaj Releases Pulsar RS 200 at Rs. 1.18 Lac in The Country

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    The all new version of the best selling Indian sportsbike joined the nation’s fleet recently christened as Bajaj Pulsar RS 200. The bike was officially launched at an event in Mumbai and on the occasion, Mr. Eric Vas, Bajaj Motorcycle Business President revealed that the company has spent a lot of time testing the machine so that it can perform well in every aspect of motorcycling. The bike comes with ABS as an optional feature and is priced at Rs. 1.18 lac for the standard variant and Rs. 1.30 lac for the ABS variant (both prices, ex-showroom, Delhi).

    Powering the Bajaj Pulsar RS 200 is a 199.5cc, liquid-cooled, fuel injected mill churning out a peak power of 24.2bhp at 9,750rpm with a maximum torque of 18.6Nm at 8,000rpm. The same six-speed gearbox was employed in the naked Pulsar 200NS as well and the “Fastest Pulsar yet”, which company calls RS200, manages to touch a top speed of 141kmph with a commendable fuel economy of 54kmpl.

    The bike comes with 300mm front and 230mm rear disc brakes, which are further paired with Bosch advanced single channel ABS setup. Built on a perimeter frame, Bajaj Pulsar RS 200 is equipped with telescopic forks at the front and Nitrox monoshock at the rear to eat those bumps and hurdles more effectively. The bike sports a fuel tank of 13 liter capacity.

    Bajaj Pulsar RS 200 is dressed with super stylish image and looks like a true sports machine. The bike comes with dual projector headlamps with daytime running lights and an impressive V-shaped tail lamp section. It further has a trimmed exhaust system that looks majestic. Clip-on handlebars and a split seat also find their place like the previous Pulsars.

    The bike had already started dispatching at the dealerships few days back. Its bookings have commenced at an initial amount of Rs. 5,000 with expected delivery date around two weeks from now. Bajaj Pulsar RS 200 comes in two colors: Yellow and Red and stands tough against KTM RC 200 and Hero MotoCorp Karizma ZMR.

    Bajaj Releases Pulsar Rs 200 at Rs 1.18 Lac in The Country -The New Indian Express

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    Last edited: Mar 31, 2015
  8. Gessler

    Gessler Lt. Colonel Technical Analyst

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    TVS group in talks with AP govt to set up one of its largest forging units
    The move comes close on the heels of the state government's efforts to make the southern Andhra region a hub of automobile manufacturing.C R Sukumar | 02 April 2015, 11:58 AM IST

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    HYDERABAD: TVS group, the $5billion diversified industrial conglomerate consisting of India's third largest two-wheeler maker TVS Motors, is in talks with the Andhra Pradesh government to set up one of its largest forging units close to Krishnapatnam port on the state's southern coast.

    The move comes close on the heels of the state government's efforts to make the southern Andhra region a hub of automobile manufacturing and encourage an ecosystem of auto ancillaries by offering large-scale incentives.

    In September, Hero Motocorp said it will set up its largest twowheeler and spare parts production facility near Sri City integrated business city in southern Andhra Pradesh at an investment of Rs 1,600 crore.

    This followed an announcement by Isuzu Motors that it will set up a Rs 3,000-crore truck manufacturing facility in the same area. "The TVS group representatives have held parleys with us several times over the last few months, expressing their interest to set up one of their largest forging units," said P Krishnaiah, chairman, Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

    Venu Srinivasan-led TVS group manufactures dozens of auto components and spare parts, and exports them. Locating the proposed forging unit near Krishnapatnam port is expected to help the company in hassle-free exports to South Asian countries among others. "The TVS group delegations headed by their chairman had sought at least 60 acre of land at one of the industrial estates near Naidupet in Nellore district, which is closer to their headquarters, Chennai," Krishnaiah told ET.

    The Chennai-based industrial conglomerate has proposed to invest at least Rs 250 crore in the first phase, providing employment to around 500 people. "They (TVS group) have also expressed interest to expand the capacities in phases by investing further. How ever, they are yet to submit a concrete proposal, seeking land and approvals, with details of investments and capacities," said Krishnaiah.

    He said officials of the state's industries ministry have explained the existing incentives being offered by the government and promised to pass on further incentives promised by the Centre under the Andhra Pradesh State Reorganisation Act 2014.

    "We have assured them the required land, quicker approvals and uninterrupted power supply , apart from handholding till the unit takes off," he said.

    ET's queries to TVS group seeking details on the proposed cumulative investments and capacities in phases, and anticipated advantages in locating the facility near Naidupet remained unanswered.

    TVS group in talks with AP govt to set up one of its largest forging units | ET Auto
     
  9. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Amara Raja commissions four-wheeler battery plant in Andhra Pradesh
    It has commissioned a four-wheeler automotive battery plant in Chittoor district in AP with an installed capacity of 2.25 million units per annum.

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    NEW DELHI: Amara Raja Batteries has commissioned a four-wheeler automotive battery plant in Chittoor district in Andhra Pradesh with an installed capacity of 2.25 million units per annum.

    "The four-wheeler automotive battery plant at Nunegundlapalle village, Bangarupalyam Mandal, Chittoor District with an installed capacity of 2.25 million units per annum was commissioned on March 26, 2015," Amara Raja said in a BSE filing.

    With the new plant, the total capacity of the four-wheeler automotive battery plant is at 8.25 million units per annum, it added.

    Amara Raja, however, did not indicate the investment it has earmarked for the new plant.

    Amara Raja commissions four-wheeler battery plant in Andhra Pradesh | ET Auto

    Call it my political bias, but the manufacturing sector has sure surged in getting things moving after TDP formed
    the state Govt. - First there was Hero's big motorcycle plant, then the TVS forging unit, now this. So many more in the pipeline, especially in the Sri City SEZ.
     
  10. Gessler

    Gessler Lt. Colonel Technical Analyst

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    DSK Benelli Registers 300 Bookings for its Superbikes Just One Week After Launch
    By: NDTV Auto Team | Updated: April 03, 2015 12:49 IST

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    DSK Benelli registered more than 300 bookings within a week of the launch of their superbikes in India. The registrations have been done across all nine of the DSK Benelli showrooms in the country.

    Also Read:DSK Benelli Launches 5 Bikes in India

    The company has already launched showrooms in Pune, Mumbai, Bengaluru, Chennai, Amdavad, Delhi, Hyderabad, Kolkata & Goa and plan to add 11 more in the course of this year. Five bikes were introduced in March this year which include the TNT 300, TNT 600i, TNT 600 GT, TNT 899 and the TNT R with the hope that Benelli's history and DSK's reach will work wonders.

    The current focus of the company is to ensure their presence in the major metros. Currently the Benelli bikes are assembled at DSK's Wai plant and the long term strategy is to base the production in here. They're off to a good start and with more models being introduced this year, it could be a good year for DSK Benelli.

    For the latest automotive news and reviews, like us onFacebookor follow us onTwitterandInstagram

    DSK Benelli Registers 300 Bookings for its Superbikes Just One Week After Launch - News
     
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  11. Anees

    Anees Lt. Colonel ELITE MEMBER

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    Maruti Suzuki May Consider Launching Swift Hybrid in India

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    In an effort to lure buyers towards electric and hybrid vehicles in the country, the government of India recently introduced the FAME India Scheme - 'Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India' - as a part of the National Electric Mobility Mission Plan. Under the new scheme, the Government will offer incentives on electric and hybrid vehicles of upto Rs. 29,000 for two-wheelers and Rs. 1.38 lakh for cars.

    During the event, government officials also revealed that carmakers like Tata Motors and Maruti Suzuki will soon launch such products in the Indian market. One such product could be the Maruti Swift Range Extender, which was also showcased at the event. However, the company has clarified that it will develop its hybrid models only after getting further clarity about the schemes and incentives.

    "The company will develop their hybrid models commercially only after getting further clarity on key aspects, including technology development fund, charging infrastructure and demand incentive.", said CV Raman, executive director (engineering), Maruti Suzuki to NDTV.

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    The hybrid model of the Swift, called the Range Extender, was earlier being developed for a pilot project that was to be supplied to the Government of India. However, after this announcement, it seems that the company might launch it for the public as well. Powered with a 658cc, 3-cylinder petrol engine paired to a permanent magnet synchronous motor, the vehicle is claimed to return an impressive 48.2Km/l of mileage. The vehicle has an electric driving range of about 25.5 Kms. Despite being a smaller capacity engine, it is good for 73bhp.

    The vehicle runs on 3 models - series hybrid, parallel hybrid and all-electric. In series hybrid model, the petrol powertrain works as a generator to power the lithium-ion battery which then powers the electric motor. In this mode, the petrol engine indirectly helps generate electricity to power the electric motor. In parallel hybrid mode, both - the petrol engine and the electric motor - provide power to the wheels.

    The Swift Range Extender weighs 1,600 Kg, and takes 1.5 hours to completely charge the lithium-ion battery through a 200V socket.

    Key Features - Infotainment system, push start/stop button, remote keyless entry and rear disc brakes.

    Maruti Suzuki May Consider Launching Swift Hybrid in India - News

     
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  12. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Volkswagen plans to make India low-cost export hub

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    Volkswagen India

    Hannover - German auto major Volkswagen is planning to make India a low-cost manufacturing hub, catering to both the emerging as well as developed markets.

    Also, as part of Prime Minister Narendra Modi's 'Make in India' initiative, the company will be investing Rs 1,500 crore for localisation and produce cost effective products, Volkswagen India chief representative Mahesh Kodumudi told on the sidelines of the Hannover Fair.

    "We are looking at making India a low-cost manufacturing hub catering to emerging and developed export markets. In 2014, we exported 65,000 cars which is 60 per cent of our production from the Chakan plant," Kodumudi said.

    "We are looking to export 70,000 cars this year," he said.

    The company will also increase production capacity at the Chakan and Aurangabad units in the next two years.

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    Volkswagen AG chief executive Martin Winterkorn said: "India is and will remain an important strategic growth market for the Volkswagen Group. We are convinced that VW will take on a key role in the Indian automobile market in the long-term. We are driving localisation forward with our new engine assembly plant in Pune."

    VW plans to increase production to 200,000 units by 2018 and add more new models from the 130,000 units Chakan plant.

    Kodumudi said the company is looking at getting into top down segment and focus will be on building the brand. The company is planning to reintroduce the Passat sedan and a new model of the iconic Beetle this year.

    India has good potential to grow. Last year the country produced 2.4 million units and this year the target is 2.5 million, which will grow to 4-4.5 million by 2020, he said.

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    Kodumudi, however, pointed out that the frequent policy change and large currency fluctuations have hampered growth of the industry in last two years.

    "Now we need the government to create stable policy framework and labour reforms, which need to be simplified. This will help gain confidence of foreign investors. We also need to talk about FTA with the EU to help the growth of the industry," he said.

    The company is also talking to the government over the cut in export incentives from 4 to 2 per cent in the recent new Foreign Trade Policy. "This move will hit the company's export plans. We are hopeful of the government restoring export incentives," he added.

    Volkswagen plans to make India low-cost export hub | ET Auto
     
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  13. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Made-in-India Jeep SUVs to Roll Out of Fiat's Ranjangaon Plant
    By: Ameya Naik | Updated: August 14, 2015 14:55 IST

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    Fiat India had announced two years ago that they will be bringing the Jeep brand to India but there was no progress on that front till now. After having brought the Abarth brand to India, Fiat's outlook to the country has changed and it seems like things are about to get serious.

    Having expanded its two vehicle portfolio just last year with the launch of the Avventura, Fiat is all set to bring in new products as well as new brands. Jeep will finally make its debut in India and operations will kick start with the Grand Cherokee and the Wrangler.

    Also Read: Upcoming Cars from Fiat India in 2015

    But the big news is that Fiat India has grand plans to start producing Jeep branded cars in India and make the country its production hub. Well of course the cars will be later exported from India which means that the country will become the export hub for Jeep branded cars.

    For this, Fiat is making a huge investment of 280 million dollars in the Ranjangaon plant near Pune, Maharashtra where it currently manufactures the Punto Evo, Linea and the Avventura. This is a big investment from the company and it affirms the seriousness with which the company approaches a country like India.

    However, when Jeep will be first launched, the cars will take the CBU route and manufacturing the cars in India is a plan for the future. Jeep has plans to also bring in the CSUV Renegade to India and once that comes, we can expect the Fiat 500X to make its way here too considering both the cars share the same platform.

    Made-in-India Jeep SUVs to Roll Out of Fiat's Ranjangaon Plant - News
     
  14. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Ford EcoSport achieves 200,000 sales milestone
    Launched in June 2013, Chennai made Ford EcoSport received 60,000 bookings within 30 days of introduction, the company said in a statement.05 August 2015, 4:09 PM IST

    NEW DELHI: Ford India's popular compact sport utility vehicle EcoSport has achieved 2,00,000 sales milestone in domestic wholesales and exports combined within two years of its introduction.

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    Launched in June 2013, Chennai-made Ford EcoSport received 60,000 bookings within 30 days of introduction, the company said in a statement.

    "The EcoSport, since its launch, has been appreciated for its compelling value proposition and we would like to thank all our customers for their patronage," said Anurag Mehrotra, executive director Marketing, Sales & Service at Ford India. "Ford EcoSport created the compact SUV segment and dominates the market owing to its unmatched value. The 200,000 sales milestone is yet another testament to the inherent strengths of our compact SUV that continues to set new benchmarks even in a challenging market."

    Ford enhanced the technology offerings on the EcoSport in February with the introduction of Ford AppLink, which enables users to control their smartphone applications through simple voice - commands.

    The EcoSport is exported to South Africa, Taiwan, Australia and several European countries.

    Ford EcoSport achieves 2,00,000 sales milestone | ET Auto
     
  15. Gessler

    Gessler Lt. Colonel Technical Analyst

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    Indian Automotive industry predicted to reach $300 billion by 2026, create 65 million more jobs

    The automotive sector is expected to generate up to $300 billion in annual revenue by 2026, contributing over 12% to the nation’s gross domestic product and creating 65 million more jobsChanchal Pal Chauhan&Nabeel A Khan | 02 September 2015, 11:57 PM IST

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    Volkswagen rolling out it's 300,000th car from it's production facility in India

    NEW DELHI: The automotive sector is expected to generate up to $300 billion in annual revenue by 2026, contributing over 12% to the nation's gross domestic product and creating 65 million more jobs, shows a document prepared jointly by the industry and government.

    The Automotive Mission Plan 2016-26 seeks to make Indian's automotive industry the engine of the 'Make in India' initiative. It was unveiled on Wednesday amid concerns that high taxes and the absence of key reforms like the goods and service tax in a sluggish economy could prove to be major impediments to growth.

    Nevertheless, the document projects India's automotive industry to grow to over 70 million units a year by 2026, taking it into the league of China and the US. The AMP is aimed at mapping the progress of the country's automobile industry and setting its goals over the next ten years. Around 23 million vehicles were produced in India in the year ended on March 31, 2015. The market is currently estimated to be worth $74 billion.

    READ ALSO: Automotive Mission Plan 2016-26 unveiled: Here are the key highlights

    "I think a little too ambitious, if we look at the current infrastructure situation," Rakesh Batra of Ernst & Young said, referring to the targets. He said there was a change of trend, such as people increasingly using cab-hiring apps like Ola, Uber and carpooling. "These will certainly impact the personal vehicle owning trending," he added.

    The second Automotive Mission Plan unveiled by the Society of Indian Automotive Manufactures has targets for various segments of the industry, in terms of size and contribution to the economy. The first vision document was for the period 2006-2016.
    "The biggest challenge (to achieve the aim) is going to be of infrastructure. In India, the second biggest cost that we have to bear is in logistics and transportation, which is about 15 percent," said Ravindra Pisharody, executive director, commercial vehicles, at Tata Motors. "However, the projection made is quite achievable."
    The second Automotive Mission Plan unveiled by the Society of Indian Automotive Manufactures has targets for various segments of the industry, in terms of size and contribution to the economy

    According to SIAM, the Indian automotive industry has been able to achieve the larger targets of the first edition of the AMP. The key achievements are investments in excess of Rs 1,60,000 crore and creation of jobs, which were targeted at 35 million by the end of 2016. Besides, the industry is on course to hit the base-case target of Rs 5,49,000 crore revenue.

    Speaking at SIAM's annual convention in New Delhi, its president, Vikram Kirloskar, highlighted the potential of the industry, but also the risks it is facing. "There are speed breakers in the form of slow government policies with no clear roadmap on GST and high taxes imposed on the auto industry ... the cumulative burden of taxes to customers on cars goes up to 84 percent, making the industry highly uncompetitive," he said.

    Others raised concerns over delayed reforms. Mahindra & Mahindra Executive Director Pawan Goenka said political stalemate was pushing several initiatives and this could derail economic recovery.

    Hero MotoCorp Chairman Pawan Munjal said: "We hope the government policy frame should improve in tune with time as we move ahead and is move in the right direction in the long-term with key reforms being addressed at the earliest."

    To achieve the new targets, the government must deliver on its promises, such as on ease of doing business, said YS Guleria, senior vice president for sales and marketing at Honda Motorcycle and Scooter India.

    Automotive industry predicted to reach $300 billion by 2026, create 65 million more jobs | ET Auto
     

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