At least half-a-dozen Chinese vehicle makers are expected to pump in about $5 billion over the next 3-5 years along with their vendor-partners to make inroads into the Indian market as their local market staggers. While MG Motor and BYD continue to invest in India, the likes of Great Wall Motors, Changan and Beiqi Foton are slated to commit investments in local manufacturing.
Auto Inc has barely managed to navigate through stormy weather, finally clocking in a growth in sales in October, albeit marginal, after nearly a year of weak sales. Though marginal, the 0.3% growth in sales in October has raised a glimmer of hope that the world’s fourth-largest automobile market will sustain its growth momentum amid steps taken by the federal government to boost consumer confidence and improve market sentiment.
First off, there must be a cut-off age for vehicles after which they should be scrapped. A kilometre-based criterion will not work in India because odometers can be manipulated. Second, there should be separate age limits for different kinds of vehicles. For example, commercial vehicles should have a lower cut-off age than personal vehicles.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range last month stood at 28,478 units, down 36 per cent from 44,380 units a year ago, the company said in a statement. The company's global sales of all passenger vehicles were at 60,630 units, down 7 per cent from 65,217 units in October 2018.
The MG ZS EV, to be unveiled next month, will go head to head with Hyundai Kona, launched in July this year as the country's first fully electric SUV. Companies are dipping their toes into the nascent electric car market amid a concerted effort by the government to spur adoption of environment-friendly vehicles.
TML's operations excluding JLR -- in particular CVs and passenger vehicles in India face acute challenges, with sluggish economic growth, weak liquidity, tight financing norms, and low rural income negatively affecting consumer sentiment, the statement said.
Sales of Jaguar brand were at 10,606 units during the month, down 22.9 per cent from October 2018, Tata Motors said in a statement.
Land Rover sales were at 31,260 units, up 2.4 per cent from the same month last year, it added. The UK sales were, however, down 18.7 per cent during the month, the company said. Sales were flat in North America.
Maruti’s parent Suzuki Motor corporation has deferred its $550-million third plant in Gujarat while Honda Motorcycle and Scooter India has pushed back plans to commence production from its third manufacturing line in Gujarat. Suzuki Motorcycle India has also put off by a few years its proposal to set up a second plant.
Retail sales of passenger vehicles improved 13.9% in October over the preceding year, while two-wheeler sales improved 8.9%, vehicle registration data from road transport and highways ministry's VAHAN dashboard showed.
"We will respect the government policy. We will make some prototypes. But there is no infrastructure — the charging system, battery station,” said Satoshi Uchida, the managing director of Suzuki Motorcycle India. When the company eventually launches its electric two-wheelers in India, it stands to benefit from the EV infrastructure of Maruti Suzuki.
MG India’s association with the acclaimed British actor also builds from the shared values and beliefs where both endorse community-led causes like diversity. The British actor has been known for promoting gender equality and ‘diversity across the board’ within the global entertainment industry.