Luxury car manufacturers on Monday hit out at the government move to hike cess on large cars, sports utility vehicles (SUVs) and luxury cars to 25 per cent, saying they would be forced to re-evaluate their business plans in Asia’s third biggest car market.
Kalyani Rafael Advanced Systems (KRAS), a joint venture between Pune-based Kalyani Strategic Systems and Israel’s Rafael Advanced Defense Systems, will develop new generation missiles initially for the Indian armed forces and later for exports.
BMW, India’s second biggest German luxury maker by sales, on Thursday introduced new BMW 320d Edition Sport to take on market leader Mercedes-Benz, Audi, Jaguar Land Rover and Volvo brands in Asia’s third biggest car market.
With a price band of Rs 38.60 lakh at pan India, the BMW 320d Edition Sport will compete against rivals such as the Audi A4, Mercedes-Benz C-Class, Jaguar XE and Volvo S60 in the country.
Honda’s India connection is set to become the world’s biggest.
Honda Motorcycle and Scooter India, the second biggest two-wheeler maker by sales in the country, added 6 lakh capacity production line at its Narasapura green factory near Bangalore. It makes it the biggest Japanese Honda plant globally.
The first month of the goods and services tax (GST) has brought cheer to most car manufacturers as their sales grew in double digits in July. The reformative indirect tax regime has made cars and sports utility vehicles or SUVs cheaper by 2.5-12 per cent.
Public sector lender Bank of Maharashtra, on Monday reported a net loss of Rs 412.20 crore for the June quarter against a net loss of Rs 397.40 crore in the year ago quarter, as the bank's non-performing assets continued to increase and it was unable to lend more on the back of weak credit demand.
Fiat Chrysler Automobiles, which struggled and failed to sell its Italian Fiat brand of cars in the fiercely competitive Asia’s third biggest car market, is now betting big on its American iconic brand Jeep with its made-in-India compact sports utility vehicle Jeep Compass in the country.
Introduced on Monday with an aggressive starting price tag of Rs 14.95 lakh at New Delhi showroom for the base Sport petrol trim, it is offered in a total of six variants–three each in diesel and petrol. The top-end diesel Limited 4x4 variant is pegged at Rs 20.65.
Mercedes-Benz, India’s biggest luxury German car maker by sales, is arguably betting big on its iconic performance division called AMG in Asia’s third biggest car market.
Marking the 50th anniversary of the AMG brand, which became a sub-brand of the company in the year 1967, Mercedes-Benz last week introduced the GLC 43 AMG Coupe with a price band of Rs 74.80 lakh at any showroom.
Tata Motors-owned British iconic sports car maker Jaguar Land Rover has introduced the Range Rover SVAutobiography Dynamic, a new high-end SUV to expand its Range Rover portfolio in India – the third biggest economy in Asia.
With a price tag of Rs 2.79 crore at any showroom in India, the Range Rover SVAutobiography Dynamic rivals the Mercedes-Benz G 63 AMG in the aggressive luxury car market in the country.
Japanese car manufacturer, Datsun on Wednesday introduced new Datsun redi-Go, a hatchback, in Asia’s third biggest car market to boost sales. The company will also launch the automatic version soon to increase customer base.
With a starting price band of Rs 3.57 lakh at any showroom, it will take on the likes of Maruti Suzuki Alto K10, the popular French brand Renault Kwid and Hyundai Eon.
The Datsun brand is Nissan Motor’s third global brand, started sales in India in March 2014. Nissan and Infiniti are other two brands.