Demand for midsize sedan Ciaz declined by 35.8% to 2382 units. Sales of utility vehicles - Gypsy, Ertiga, Vistara Brezza, S-Cross - increased by 19.9% to 19276 units.
The company's sales for the year, however, surpassed targets. Hyundai's sales in the local market rose 5.4% to 527320 units in 2017.
Carmakers told ET this was because of changes in incentives by the aggregators and the need to fit speed-limiting devices in vehicles used for commercial purposes starting May.
Apollo Tyres has, in fact, firmed up plans to invest Rs 525 crore in a greenfield facility in Andhra Pradesh, construction work of which is expected to commence in January 2018.
Volvo Car plans to bring only electrified vehicles to the local market starting 2019, the move being in line with New Delhi’s vision to switch 40% of the country’s new vehicle fleet to an all-electric mode.
The government had been talking of segregating the vehicle and energy businesses in order to reduce the cost and increase the convenience for the consumer.
The industry body has urged that electric vehicles be exempt from road tax and favourable treatment similar to priority sector lending be considered for electric vehicles.
Hyundai On Wednesday said it will increase prices across its range of vehicles by up to 2 per cent to absorb the increase in input costs.
Jerome Saigot, Managing Director, Nissan Motor India. said, With the rise in input and manufacturing costs, Nissan has decided for a price hike across all Nissan and Datsun models with effect from January 1, 2018.
Trucks are travelling 300-325 km a day, an up to 44% increase from the average of 225 km a day before July 1, when the goods and services tax was introduced, according to data collated by the Ministry of Road Transport & Highways.
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