In his maiden general budget, Union Finance Minister, Arun Jaitley announced increasing of Foreign Direct Investment in the defence sector to 49% from current 26%, while keeping the control remain in the hands of Indian management.
The government’s move to gradually deregulate diesel prices is expected to substantially reduce the share of diesel vehicles in total sales of passenger cars and force automakers to scout for other markets to make full use of their capacity.
In a major relief to the automobile industry, finance minister Arun Jaitley extended the excise duty cuts that were implemented by the UPA government until December 31. The reductions were set to expire on June 30.
Vehicle prices are likely to increase from July 1, as the excise cut on automobiles announced by the previous government to spur demand is expiring on June 30. It is likely that the government will return to the previous excise duty structure. That will increase the price of utility vehicles by as much as 6% and cars and bikes by 4.5-5.0%.
Uniform excise duty on passenger cars, a scrappage policy and implementation of GST feature among the top expectations of the Indian automotive industry from the Prime Minister Narendra Modi’s first general budget.
If the policy comes into force it will help the entire value chain of rubber, the vehicle, and tyre industry
JBM Group Chairman and Managing Director, S K Arya, son of a Mumbai- based established textile businessman choose to prove his metal in a new field and carved his steady success in the past three decades. Now he aims to take Group's turnover to Rs 10,000cr.
Hyundai Motor India exported fewer i10s in FY14 but the compact hatchback still retained its ranking as the most-exported made-in-India car at 109,074 units. Volkswagen sedan Vento broke into the top 10, rising to sixth place from 16 as exports of the model shot up almost threefold to 32,017
German luxury carmaker BMW Group Thursday launched third genration of its sports utility vehicle (SUV) X5 xDrive30d at Rs 70.90 lakh ex-showroom in India. The car is cheaper by Rs 10 lakh compared to its predecessor as it will be rolled out of company's Chennai plant.
The Amby was also heavy, sluggish and a fuel guzzler despite getting new modern engines. It continued to be popular with Government officers and a few lovers of antiques but young buyers wanted modern cars that were sleeker, quicker, more comfortable reliable and economical to run. It was not expensive but despite all efforts the sales had slipped to less than 200 a month that made production unviable
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