Tesla held initial discussions with Karnataka government officials on September 10, who are looking for a possible investment by American electric automaker in a research facility located in Bengaluru, people familiar with the matter said. A followup meeting is expected later this month, they said, in which the state officials are expected to present a detailed proposal to the […]
cars in India
India-China tensions delay sale of General Motors’ plant in India
Delays to American automaker General Motors’ sale of its Indian plant to Chinese automaker Great Wall Motor because of the tensions between India and China are likely to result in hefty unplanned costs for GM, people familiar with the matter said. The sale of the plant located in Talegaon in Maharashtra state was announced in January […]
Toyota Motors no longer planning expansion in India, due to high tax regime
Toyota Motor won’t expand any more in India due to the country’s high tax regime, a blow for Prime Minister Narendra Modi, as India continues to attract global companies to offset the economic downfall caused by the coronavirus crisis. The government keeps taxes on cars and motorbikes high enough that companies find it hard to build […]
Toyota to offer cars in India on lease and subscription
Toyota Motor will offer its cars in India on leases or shorter-term subscriptions, hoping to cover the growing demand for private transport as travelers avoid traveling in public transport due to coronavirus crisis. The Japanese automaker stated on Tuesday it would provide leasing plans to corporate and retail consumers of three to five years throughout […]
India reportedly urges auto companies to cut royalties to foreign parents
India’s commerce minister has asked automakers to observe ways to decrease royalty payments to foreign parent companies for use of technology or brand names, two sources said according to Reuters, in an effort to increase local investment and decrease outflows. In India’s competitive auto market, top-selling automakers Maruti Suzuki and Hyundai Motor’s regional unit pay […]
Bosch to cut 1,000 jobs in India due to losses in first quarter
Automotive parts maker Robert Bosch GmbH experienced a loss of Rs 200 crore ($26.7 million) in the first quarter compared to a profit of Rs 280 crore ($37.4 million) a year ago as the coronavirus crisis impacted the auto industry. Revenue from operations dropped 64% to Rs 991 crore ($132 million). The loss was aggravated by […]
Kia Sonet SUV premiered, to be offered with three engine options
Kia Motors has revealed its sub-compact SUV Sonet in a world premiere on Friday. The car will be offered with 3 engine options of 1.2-litre petrol, 1.0-litre turbo petrol, and the 1.5-litre turbo diesel. These engines can either be used with a 5-speed manual transmission or the 6-speed DCT or the all-new 6-speed iMT gearbox. […]
Maruti Suzuki production declined by 97.5% in May 2020 due to COVID-19
The government and automakers had enforced shutdowns of factories to control the spread of the coronavirus pandemic. This has led a huge impact on Indian’s largest automaker, Maruti Suzuki, who reported a decline of 97.5 percent in production at 3714 units in May 2020. The company had manufactured 151,188 units during the same period in 2019, […]
Indian automakers offer teaser loans as RBI softens stance
Maruti Suzuki, Hyundai and Mercedes Benz are providing Indian auto buyers “teaser loans”, a move that sources stated came after softening of the central bank’s stance because of a coronavirus-induced economic slump. Although the Reserve Bank of India (RBI) never prohibited teaser loans, which provide low interest rates for a limited period before jumping, its […]
Honda temporarily stops car and two-wheeler plants in India
Honda Cars India Limited (HCIL) will temporarily stop operations at both its manufacturing plants located in Greater Noida, Uttar Pradesh and Tapukara in Rajasthan from 23rd March till 31st March 2020 because of the spread of coronavirus, the company stated. “HCIL associates working in corporate offices, including zonal and regional locations for all functions will mainly […]
PSA launches Citroen C5 Aircross SUV in India
PSA Group on Wednesday introduced its Citroen C5 Aircross SUV in India and said it would be available before the end of 2020, as the French carmaker re-enters the Indian market to expand beyond Europe. The SUV is the first product from the Citroen brand motivated at the Indian market and the company strategies one […]
