Renault plans to make India a hub for electric vehicle components

downloadSource: LiveMint.com, Apr 16, 2018

New Delhi: Renault SA has placed orders for manufacturing electric motors and transmission parts for its electric vehicles with one Indian automotive component manufacturer and have plans to make India a manufacturing hub for electric vehicle (EV) components in the long term.

The local unit of the French car maker is also working on developing EVs for the global market in Chennai, two people aware of the developments said.

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Passenger vehicle exports dip 1.51% in 2017-18

Source: The Hindu Business Line, Apr 15, 2018

New Delhi: India’s passenger vehicle exports declined for the first time in seven years in 2017-18 with a dip of 1.51 per cent as major exporters focus on domestic market, while lingering impact of GST refund also affected overseas shipments.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) exports in 2017-18 were at 7,47,287 units as against 7,58,727 units in the previous year. “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41 per cent,” SIAM Deputy Director General Sugato Sen said.

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India’s automobile industry sees rural India driving sales in 2018-19

Source: LiveMint.com, Apr 11, 2018

Mumbai/New Delhi: India’s top automobile manufacturers are expecting robust rural sales in the current fiscal year as a favourable monsoon and faster economic growth are likely to boost farm income.

Car market leader Maruti Suzuki India Ltd, two-wheeler maker Hero MotoCorp Ltd and tractor maker Mahindra and Mahindra Ltd generate about 35-50% of their sales from rural areas.

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Auto parts makers feel the squeeze as banks tighten loan terms

Source: LiveMint.com, Apr 09, 2018

New Delhi:Banks are taking a cautious approach to lending to smaller automotive parts makers, fearing companies may default on repayments as was the case with Amtek Auto, three people aware of the development said, requesting anonymity.

Banks have told the companies that in case of a default of delay in payment the personal account of the promoter with the same bank will be used for recovery, a top executive of a leading auto parts maker, the first of the three people cited above, said, requesting anonymity.

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India pips Germany, ranks 4th largest auto market now

Source: The Economic Times, Mar 24, 2018

India has overtaken Germany to become the fourth largest automobile market in the world, latest global data show.

Automobile sales, including passenger and commercial vehicles, in Asia’s third largest economy grew 9.5%, the fastest among major global markets, last year to more than 4 million units, outpacing Germany’s 3.8-million vehicle sales, which rose by a modest 2.8% in the same period.

India’s passenger vehicle demand is led by utility vehicles
Sales volumes for Maruti Suzuki Vitara Brezza and Hyundai Creta remain strong, new launches in segment include: Tata’s Nexon, Jeep Compass, VW’s Tiguan & Skoda’s Kodiaq. The government’s thrust on infrastructure, stricter tabs overloading ban, macroeconomic environment buoyancy expected to keep the momentum strong in 2018.

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Govt plans to set up ombudsman to empower automobile owners and new buyers

Source: Business Standard, Mar 16, 2018

New Delhi: Automobile buyers will soon have a grievance redress mechanism for their issues with manufacturers. The government plans to set up an automotive ombudsman to empower millions of automobile owners and new buyers.

The government is in the process of rolling out a National Automotive Policy and the ombudsman-led redress mechanism is one of the several proposals.

The draft circulated by the Department of Heavy Industry for public and stakeholders’ comments last month did not have this clause; this was added early this week. The draft policy seeks to establish an automotive ombudsman to address consumer grievances before adopting a legal recourse. The proposed ombudsman, according to the draft, might intervene in a variety of issues related to new car sales, service and repair of vehicles and warranties. Read the rest of this entry »

Essel Infraprojects to enter electric vehicle sector with Rs3,500 crore investment

Source: LiveMint.com, Feb 23, 2018

New Delhi: Essel Infraprojects Ltd, a unit of Essel Group, will enter the electric vehicle (EV) segment with an investment of Rs3,500 crore, it announced at the ongoing UP Investors Summit 2018 on Thursday.

Essel Infraprojects will invest in the installation of charging stations and to manufacture e-rickshaws and e-buses across the state.A memorandum of understanding (MoU) with the Uttar Pradesh government was signed in this regard during the summit in Lucknow, the company said in a statement.

“Essel Infraprojects has committed an investment of Rs3,000 crore for bringing out 1,000 e-buses from intrastate UP to the National Capital Region.

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