Posted by Carzy Team on May 17th, 2012
The German automobile manufacturer Volkswagen officially announced that as of now it is planning to halt its proposed investment plan of Rs. 2,000 crore in the state of Maharashtra, India. This has come into effect because the VAT refund issue is not settled as of now with the Maharashtra government.
The Chief Representative India of Volkswagen Group, Mr. John Chacko said, “At the moment we have decided to put a halt on our future strategies related to investment plans in Maharashtra. But the normal investments required for usual operations of the company is executing flawlessly.
Posted by Carzy Team on May 17th, 2012
The market is always impacted by falling rupee value and so the same is happening with the Indian auto industry. The car sector is hit by the declining rupee and thus it is compelled to increase the costs of their automobiles in order to set off the import component prices.
According to market activities, the Indian rupee experienced a new slash of Rs. 54.4950 as against to US$. This is the highest drop ever witnessed since December 2012 and this is a quick alert as the rupee is down by 6.6% this quarter. Eventually the cut down is a challenge because India imports a lot in contrast to what it exports. Also the same is applicable in Indian auto market as well, where most of the important vehicles are imported. So if the rupee value remains the same, the situation will get worse and it will have a negative strike on the local car market.
Posted by Carzy Team on May 17th, 2012
Honda Siel Cars India is planning out a new refreshing variant of its model Accord with an aim to capture some sales volume from the Indian auto market. The Japanese auto giant is missing good sales benefit in the nation due to absence of a diesel version in its entire product portfolio. Also the local auto market is being blessed with so many outstanding diesel engine options from almost all the major carmakers, making Honda suffer in market.
And now as competition is getting stiffer, Honda Siel is crafting plans to throw some shine on its ageing Accord by offering the market with a new facelift version. Also a new model is likely to hit Indian shores by 2013, till then the facelift option is there for the Accord lovers.
Posted by Carzy Team on May 17th, 2012
In last five years, the second hand car market of Indore is quickly progressing as its business has posted double growth. Basically in the city, all the major automobile manufacturers have got their own exclusive units for used vehicles and the same are offering profitable business to the makers. In Indore, Maruti-Suzuki has four second hand car showrooms; Tata Motors own three while Mahindra & Mahindra and Hyundai own two used car dealerships.
As per total car sales figures in the city of Indore, the pre-owned vehicle sales account of 30%, means 200-300 used cars are sold in the region. But the number was not so overwhelming three years ago and stood just at 10% of the total car sales.
Posted by Carzy Team on May 17th, 2012
The Government of Maharashtra has recently declared that it will slash the tax rate imposed on imported cars coming from different markets. Now as per plan, the tax on vehicles which are being imported will attract 20% charge of the cost of the vehicle instead of previous count of 22% for petrol versions and 26% for diesel ones.
Basically the decision to cut down tax rates on imported and company owned vehicles were jointly taken by the state cabinet ministry. The decision was carried out because transport department made a remark and clearly observed that thousands of vehicles were getting registered in the nearby states, so that buyers can easily avoid high taxes imposed by Maharashtra Government on imported cars.
Posted by Carzy Team on May 16th, 2012
Toyota Kirloskar Motors has emerged as the best automobile company in terms of dealer satisfaction for two times in a row as per a survey conducted by J.D. Power Asia Pacific 2012 India Dealer Satisfaction with Automotive Manufacturers Index Study SM. In the points table the Japanese car maker bagged the top position with 913 points followed by the South Korean auto maker, Hyundai Motors with 878 points while Maruti Suzuki had to settle down for the third position with 858 points.
On the whole, the Indian auto dealers are expecting a jump of 34 per cent in their annual income with maximum revenue coming from auto parts and accessory sales. The other beneficial products are the auto insurance and their commission on auto loans.
Posted by Carzy Team on May 16th, 2012
The major financial enterprise of the country, the State Bank of India (SBI) is the major finance joint that offers maximum number of loans for the automobiles. And now the nation’s key lender is focusing to make its retail car loans section stronger and efficient. For the same the bank has decided to introduce a new lower rate of interest of 11.25% for all tenures.
As per bank details, in the last financial year SBI claims that it has offered or financed maximum number of automobiles in the country and eyeing for much more in the future.
Posted by Carzy Team on May 16th, 2012
As the demand for luxury sports cars shrinks in major auto markets like Europe and United States, the manufacturers are diverting their focus on emerging markets like India and China in order to gain business from growing millionaires in the country.
Indian auto industry has already been explored by very famous and key automakers like Porsche, Ferrari and Maserati. And now to join the queue, the British sports automobile manufacturer Aston Martin is all ready to hit its steps in the nation as the company feels that the domestic market will surely turn out to be beneficial for the brand after demand squeeze from other key areas.
Posted by Carzy Team on May 16th, 2012
Mercedes Benz, the German luxury car maker has launched its sensational ML350 2012 SUV (Sports Utility Vehicle) in the Indian auto market on 15th May, 2012. The premium crossover was speculated to be unleashed later this year but the auto company, which has slipped to no 3 position in the luxury segment thanks to some terrific sales of its German counterpart Audi, wanted to fast grip the market before anyone does and thus introduced its new product for the subcontinent on a hurried pace.
The all new Mercedes Benz ML350 2012 is a superb performer all credit to its fantastic V6 engine coupled with seven-speed 7G-Tronic automatic gearbox which goes into any desirable mode as per your selection. Styling is electrifying and appealing with the vehicle having good road presence as well. Germans are the masters when it comes to designing interiors and the new Mercedes Benz ML350 CDI 2012 also boasts the same. Loads of driving assistance is embedded into the Merc SUV which includes Speed Limit Assist, Lane Keeping Assist, Active Park Assist and many more. This sort of features along with comfort and power of Merc vehicles makes driving thrilling than ever.
Posted by Carzy Team on May 16th, 2012
The most terrific and much known off-roader from Mahindra and Mahindra (M&M), the Thar is now blessed with a new AC variant. The leading utility vehicle maker of the country launched the air-conditioned version of the 4X4 jeep with a starting price tag of Rs. 6.75 lakh.
From a very long time Mahindra was planning to equip the elusive off-roader with an air conditioner and later came up with the same after few important feedbacks from customers. With all required and great specifications, people felt the urge of air conditioner in the superbly tough Thar and therefore M&M heard the call and went for it. The senior marketing vice-president, automotive division of the company, Mr. Vivek Nayer said that company installed the off-roader jeep with an AC after customer’s feedback.
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