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Car sales show positive growth
 April 2009 was another good month for passenger car sales as the effect of the government stimulus packages continued to bring in buyers due to cheaper and more readily available finance. |
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Indian auto industry flatlines in '08-'09
The slowdown in the availability of credit increases in the cost of borrowing and lower consumer confidence all took their toll on Indian automotive sales during the financial year ended March 2009. |
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Car sales jump in February '09
February 2009 brought some respite from the gloomy sales news of the last few months. Passenger car sales jumped a solid 22 percent with 115,386 units sold, compared to the same month last year, thanks mainly to the availability of cheaper finance. This is the first time in four months that car sales have actually risen; however, there are doubts about whether this marks a sustained recovery in demand. |
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January sales recover slightly
The pressure on automotive sales
continued into the New Year with January passenger vehicle sales
declining almost seven percent to 137,000 units compared to the same time last year. However, they were 38 percent higher than December 2008 sales of 99,000 units. |
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The liquidity crunch– is it really such a big problem?
The auto industry is severely affected
by the liquidity crisis. What started
off with the commercial vehicle segment now afflicts almost all segments. On the one hand demand got affected due to rising interest rates, and
on the other banks became overcautious lending to consumers. Overnight the banks started pruning their lending to companies they thought were risky, through control on overdrafts and loan limits. |
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India cars: industry targets 16 by 2016
Design matters, for both vehicle manufacturers and consumers. While carmakers find it helps differentiate their products in a hugely competitive marketplace, new car buyers make a beeline for the products whose styling they find appealing. But how really Indian are the Indian cars in terms of design and styling? |
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Industry drops to new lows in Dec
Auto industry sales continued their decline in December 2008, despite the four percent cut in excise duty and the government’s stimulus package which was aimed at boosting liquidity and making vehicle finance more easily and cheaply available. Sales of commercial vehicles, two-wheelers and utility vehicles were particularly badly affected as high interest rates and poor consumer confidence took their toll on sales. |
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Godrej tools up
. Godrej & Boyce Manufacturing Co’s Ltd Tooling Division (GTD), which essentially makes tools for automobile manufacturers, is today banking on its capability to handle complex design, manufacture and testing of tools to meet future challenges, both in India and abroad. |
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Global automotive industry in turmoil
China and resource-rich economies propped up global vehicles in the first half of 2008 but there is now a synchronised slowdown across the globe. |
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Manufacturers slam on the brakes
Falling domestic sales due to high interest costs and tighter liquidity have forced manufacturers to cut production.
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Budget brings excise cheer
The Union Budget 2008-09 has come as a pleasant surprise to many in the automotive industry, especially manufacturers of small cars, buses and two- and three-wheelers. Although not being directly benefited, the Indian auto component industry clearly stands to gain from the anticipated growth in volumes thanks to the tax cuts. |
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Ford jumps into the small car race
“Our new model will be a worthy competitor to other cars in the segment and we will begin production with at least 90 percent local content to ensure that it is priced competitively,” said Arvind Mathew, president and managing director of Ford India. |
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Sourcing imperative, say global companies.
This was apparent from the impressive presence of businessmen at the conference on Access to Global Markets Through International Purchasing Offices (IPO) organized by ACMA at the 9th Auto Expo. |
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All roads lead to Delhi.
This year’s Auto Expo, organised by the Automotive Component Manufacturers Association (ACMA), Confederation of Indian Industry (CII) and Society of Indian Automobile Manufacturers (SIAM), is the biggest yet and a reflection of the mood of the Indian automotive industry. Car makers are looking at 2008 with optimism and the hope that sales will pick up in the new year. |
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