The western region remained the biggest market for passenger vehicles, commanding 31 per cent of the total sales, ahead of the north’s 30 per cent.
Contracting domestic sales of big global carmakers such as General Motors, VW and Fiat is starting to hurt their dealers, with some claiming to have suffered losses running into crores of rupees.
Over three years, the imports jumped sevenfold to 4.2 lakh units in Q1. The pace has slowed from 80% in the same period of 2015-16.
"GM had first extended the closure of the plant till August this year and have now extended it to March next year," one of the persons said.
Japanese tractor maker Yanmar is in talks with International Tractor Limited, to raise its stake in the third largest tractor maker in India.
In the BSE note, it said the proceeds will be used to repay debt and for general corporate purposes, including to make certain capital expenditures.
The coupon is 3.67 percentage points over five-year US Treasury bill. The bonds are rated BB+, putting them in the high-yield, or junk, category.
Seven of the total 15 PV makers in India had less than 2 per cent market share while three of them had either 0.5 per cent or less market share in May 2016.
The French carmaker expects 50 percent of the total sales to come from this segment of business. Currently about 400 units of Lodgy are sold in India.
In his budget speech, the finance minister had proposed to collect a 1% tax at source on luxury cars priced above Rs 10 lakh.
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