List of articles tagged: auto

The auto sector in India has had a rollicking year with the sales figures jumping every month. The slowdown had its effects but didn't last long. According to figures available, the automotive industry in India grew by 26.41% in sales in 2009-10.

This is certainly not a good news for those who were waiting to buy their dream car. ICICI, Kotak and HDFC have increased their lending rates, signalling a price hike very soon.

The Finance Minister Pranab Mukherjee's 2010-11 budget has led to mixed reactions from the industry. Earlier in the day, the minister had announced a 2% hike in excise duty on large cars, SUVs and multi utility vehicles taking the excise duty from 8% to 10%.

The Finance Minister in the on-going budget speech mentioned the need for bringing in more electric cars and that for them to smoothly drive into India, he made an announcement that a full excise cut will be given to electric cars. Thumbs Up to the electric manufacturers!

The Finance Minister Pranab Mukherjee just laid out a plan in his Budget for 2010-11 that construction of national highways will be done on a serious note and that there would be minimum of 20kms of road  constructed every day. Road development allocation has been hiked to Rs 19,894 cr.

There is a lot of expectation from the finance minister who would be presenting the first budget since the UPA was elected to power and also is a budget after the recession tide has swept over. Here are some expectations from the industry from the government...

In less than 24 hours, the Finance Minister Pranab Mukherjee will disclose the budget for 2010-11 and fingers are already crossed on what that in famous 'suitcase' will contain. Industry experts and consumers alike are waiting with bated breath to know what's in store for them for the oncoming year.

Toyota Kirloskar Motor Pvt. Ltd (TKM) has signed a Memorandum of Understanding (MoU) with the State Bank of Hyderabad (SBH) to extend auto retail finance to their prospective customers. The State Bank of Hyderabad will be one of the preferred financiers for the entire range of vehicles sold by TKM.

Jaguar Land Rover today announced the appointment of Dr. Ralf Speth as the chief executive officer with overall responsibility for the company's operations.  He will report to Carl-Peter Forster, the recently appointed Group chief executive officer of Tata Motors.

The Volkswagen Polo which was unveiled at the Auto Expo last month in Delhi will finally be out on roads later this month. The Polo is one of the most awaited car in the auto market and if sources are to be believed will be priced very competitively.