
BMW taps new customers in a bid to go past Mercedes
The German auto major sees a significant contribution of over 50% coming from the locally produced sports utility vehicle range including the X1, the X3, and the X5.
The German auto major sees a significant contribution of over 50% coming from the locally produced sports utility vehicle range including the X1, the X3, and the X5.
The ratings agency said that the passenger vehicle segment's FY21 volumes are expected to see a drop, as it is tied to GDP and overall consumer sentiment, both of which are at historic lows.
Pushed by festive season offers, passenger vehicles showed the biggest growth: 11%. It grew from 223,498 units last year to 248,036.
Total industry sales, however, fell nearly 13%, according to SIAM data.
Mahindra and Mahindra will pick up majority stake in a JV with Ford, manage the American carmaker’s operations in India, and collaborate on new cars and business in emerging markets.
A study by the institute says the number of natural gas vehicles in India is expected to shoot up to 33 million by 2030 from 3.3 million in 2019—a 900% rise.
SIAM says global factors such as a slow-growing world economy and the ongoing trade war between the U.S. and China will pose a major challenge to India’s automobile industry.
According to SIAM, low consumer sentiments and tight liquidity drove down vehicle sales in November.
While auto sales volume is expected to grow, the extent of the toll taken by input cost pressures will be crucial. New launches will be key to holding ground.
Domestic sales face headwinds due to rising fuel prices, but exports and production figures look quite healthy