Apollo Tyres Chairman Onkar S Kanwar said the ground breaking ceremony for the new plant will take place in January.
Improved sentiments in rural markets boosted motorcycle sales which rose by 7.37% to 1144516 units, those of scooters went up by 8.24% to 568410 units.
Continental currently operates nine facilities in India – of these five are automotive and four are rubber plants. The Technical Centre has around 2000 engineers.
The new Fortuner comes in both petrol and diesel options.
The Tucson will bridge the gap between Creta and Santa Fe. The company now plans to bring in one new model every year in a segment where it doesn’t have a presence.
In the CV segment, Tata Motors posted its highest monthly volumes this year -October sales, including of light vehicles, increased 15% to 30,169 units.
The GST Council finalised a four-tier structure, with the rates from 5 per cent to 28 per cent. Luxury and de-merit good would attract tax at 28 per cent
Bhargava also said it crucial to develop hybrid technology for low cost cars and that Maruti Suzuki and Suzuki Motor Corporation are working on that.
"The more accurate reflection of demand is that for the festive season (august to october), MSIL sales have grown by about 14% compared to last year", said Kalsi.
At Maruti Suzuki, executive director for sales & marketing RS Kalsi said the major proportion of sales at around 70% comes in from petrol cars.
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