The company, which accounts for nearly one out of every four utility vehicles sold locally, is looking at increasing sales in the mid-size sports utility vehicle (SUV) segment, where it currently has a single product Maruti Suzuki S-Cross.
According to the proposal, transport vehicles older than eight years could be charged a green tax at the rate of 10-25% of road tax at the time of renewal of fitness certificate. For personal vehicles, the tax will be levied at the time of renewal of registration certificate after 15 years. The proposal will now go to states for consultation before it is formally notified.
GM stopped selling cars in India, the world's second most populous nation, at the end of 2017 after years of low sales. It sold one of its two factories in the country to China's SAIC Motor Corp and continued to build vehicles for export at its second plant until Dec. 24.
Luxury carmakers have lined up about 70 launches – including all-new models, facelifts and variants – this year, which is almost double of Covid-hit 2020 when lockdowns and supply chain challenges forced most firms to defer rolling out of new vehicles.
Even as industries world over faced unprecedented challenges last year amid the outbreak of the coronavirus pandemic, the country’s largest two-wheeler maker Hero MotoCorp took a relook at its operating models and defined new ways to expand.
Roland Bouchara, senior vice-president (sales and marketing) at Citroen India, while conceding that India is a “tough market” said it also presented a huge opportunity to Citroen over the next few years to evolve into a major player.
Cost is like to be a major stumbling block in India. Modi govt's FAME programs won’t do much to help lower the price for would-be Tesla customers, since the upper limit for an EV to qualify for subsidies is Rs 15 lakh. Teslas will cost more than that and therefore won’t be eligible, according to BNEF analyst Allen Tom Abraham.
Such extra premiums would be anywhere between Rs 100 and Rs 750 for two-wheelers, and for four-wheelers and commercial vehicles, it would be in the range of Rs 300 to Rs 1,500, according to the insurance regulator.
In its budget 2021 recommendations, Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual TCS (tax collected at source) of 0.1 per cent saying it is a huge financial burden on the automobile retail industry.
Under the memorandum of understanding (MoU), the foundation, which is the philanthropic arm of Hyundai Motor India, donated a KONA Electric for NVH (noise, vibration and harshness) and battery technology research for students of IIT Delhi, the company said in a statement.