Maruti Suzuki is on course to post record sales this calendar year, with volume increasing about 13% from 2013.
A study sponsored by the Ministry of Heavy Industries has recommended monetary incentives — Rs 25,000 for a car and Rs 10,000 for two-wheeler.
The study also reveals that visibility and driving safety are the most influential performance category on new-vehicle customer satisfaction in the small car market.
Over 90% of the Indian small car buyers demand safety features such as Anti-lock braking system (ABS ) and airbags, however only 34 % of the total small car owners have these safety features in India, a study by global research firm JD Power revealed.
The low-cost bike for India will be developed with the help of local R&D. The Japanese two-wheeler major already sells low-cost bikes in S Africa.
"We believe that the economy will pick up and if that happens then definitely hiring will also pick up," says Dubey.
The company recently signed a manufacturing and sales agreement with Benelli, which marked its entry into Asia with its India foray.
With these new initiatives MFCW hopes to sell 1.5 lakh vehicles this financial which will include bother from the brick and mortar and online platforms.
Iran has also started accepting transaction in the Indian currency through UCO Bank, which gives ease of business.
For every new car sold in the country so far this year a used car was also sold, according to consultancy and market research firm Frost & Sullivan.
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