Cheers prospective car buyers as you may save more than you hoped when you buy your car next year. Auto activities are increasingly expanding in India and to put a smile on both ends of the market, JSW Steel has set up a new steel plant to make High Grade Steel here in India.
Mahindra launched their ‘Goodbye Fuel, Hello Electric’ scheme for e2o electric car in Pune on the occasion of Earth Day. Mr. Chetan Maini, Chief Executive Officer, Mahindra Reva Electric Vehicles Pvt Ltd, launched the scheme a few hours back.
A sigh of relief for pure electric and hybrid vehicle makers in India as Government may soon sanction subsidies to make them as affordable as petrol and diesel powered cars. Environment cautious buyers may also be delighted as the grant extends to all segments of mobility from two-wheelers to public transport buses. Subsidies on electric vehicle ranges from Rs 8,000 to Rs 12 lakh, depending on vehicle segment and criteria, decided by government.
Mahindra will setup a new plant in Tamil Nadu to manufacture its new range of vehicles next year. This will be Mahindra’s ninth plant in India, which will start operations in 2015-16 with investment of about Rs. 4000 crore, spanned over 7 to 8 years. This is just part of a major capacity expansion plan and product development strategy for a total worth of about Rs. 10,000 crore in next three years.
For financial year 2013-14, Indian auto industry saw Maruti Suzuki Alto emerge as the best selling car with sales of over 2.58 lakhs. This was followed by three Maruti Suzuki products – Swift hatchback with 1.98 lakh sales, DZire sedan with 1.97 lakh sales, and Wagon R hatchback with 1.56 lakh sales. The top 5 list finished off with Mahindra Bolero on the last spot with 1.07 lakh sales.
India’s top car manufacturers list for FY 2013/14 unsurprisingly sees Maruti Suzuki and Hyundai Motor India at top two respectively, and dramatic change in rest 3 positions which is also not a surprise. The list includes Mahindra, Tata and Honda, by overall sales volume in fiscal 2013-14. The next two are Toyota and Ford.
Mahindra ShubhLabh Services Ltd today signed a JV agreement with Belgium based Euro 3.2 billion Fresh Produce company, UNIVEG. Mahindra ShubhLabh Services Ltd (MSSL) and UNIVEG hold 60 and 40% equity respectively. The JV focuses on developing fresh fruit supply chain to meets both the domestic and international market needs. Other than grapes, the JV will focus on select key fruits.
During 2013, sales of Duster stood at 46,700 units while 45,000 units of Ford EcoSport were sold. However, sales of Mahindra Scorpio, which was assumed to have fallen back once Duster and EcoSport were launched, has registered sales of 50,900 units during the same period. March 2014 sales of Scorpio have reached 5,605 units led by festivals in Maharashtra and North India and increased buying from political parties ahead of the General Elections in the country.
The sub 4 meter compact SUV segment has seen a tremendous boost in demand ever since the launch of Ford EcoSport. Many car makers are planning to launch a new car for India in this segment. This includes the likes of Tata, Hyundai, Honda, Nissan, Volkswagen, etc. Recently, Mahindra’s compact sub 4 m SUV was spotted on test in Chennai. Expected to be launched in 2015, the new Mahindra S101 compact SUV was in heavy camouflage and hence many details were not evident.