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Compact sport utility vehicle

Jan 18, 2020, 09.55 AM IST

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COMPACT SPORT UTILITY VEHICLE

1/3rd of all passenger vehicles sold are UVs

India’s newfound love for utility vehicles has taken the share of that segment from a mere 13% of total passenger vehicle sales 9 years ago to more than one-third so far this fiscal. In 2010-11, the auto industry rolled out 78 new cars on roads and 36 new UVs. So far in this financial year, 53 new cars have been launched, & an equal number of UVs have been launched.

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  • Sales of luxury cars in India declined by about 15% last year — the steepest drop in more than a decade.

    Tata Motors is confident that EVs are getting more affordable in India, especially in the fleet segment. It’s a different story in the personal segment for individual buyers. This is because GoI incentivizes commercial fleet-owners with FAME II and GST concessions. Individual buyers are eligible only for a few tax concessions.

    Mahindra & Mahindra retained its third spot in the Indian passenger vehicle market in the first nine months of 2019-20, and increased its lead over fourth-placed Tata Motors.

    "As a new entrant in the Indian market, the robust sales momentum of our first offering, the Hector, has been very encouraging. We are working closely with our global and local suppliers to increase the production of the Hector in 2020 to support the booking backlog," said Rakesh Sidana, director for sales, MG Motor India.

    Both the B (B772) and C segment SUVs (W601), which are under development for the JV company, will be shared by Ssangyong Motor Company. Similarly, products made by Ssangyong may be used by Ford for the global markets. A senior management of Ford may soon be visiting Korea to discuss the execution of this plan, new resports said.

    "A lot of opportunities have opened up, thanks to the government’s 2,500 cars import regulation without homologation. It can open up new segments for us. This can also help us in experimenting with products, the E-Tron electric SUV for example", said Balbir Singh Dhillon.

    ET had reported in November that the Franco-Japanese alliance factory Renault Nissan Automotive India was targeting to close the current fiscal with 15% jump in production on the back of strong exports demand for the Nissan Sunny and local demand for the Renault Triber.

    In a market where passenger vehicle sales shrank 18% since the fiscal year started in April, Tata Motors' sales fell 25-30%.

    German automobile company Audi is cautiously optimistic about the year that will mark the transition to stricter emission norm BS-VI. "In terms of growth estimates for the luxury car market, we estimate it to remain flat in 2020 and we are hopeful of positive growth starting 2021," Audi India Head Balbir Singh Dhillon said.

    The development comes in the wake of calls from financial institutions to Mahindra to inject more funds into the South Korean firm, given its deteriorating bottom line. SsangYong’s net losses had more than tripled year on year to about $160 million (185.5 billion won) during the first nine months of 2019.

    Maruti Suzuki’s volume fell 24 per cent in the first half of the current fiscal.

    Pawan Goenka, managing director of Mahindra & Mahindra, told that although the JV partners will bring both businesses closer on product development, sourcing and technology, they will retain independent product DNA without resorting to cross-badging.

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