Royal Enfield gets ready to go deeper into markets abroadAn assembly plant in Thailand is likely to go on stream in the next six months, while the company is exploring a facility for the Latin American market. The idea is to bring the cost down in countries where the import tariffs are high. It is looking at partners who could share the investment and offer local expertise in such markets.
BMW studying possibility of launching electric cars under Mini brand in IndiaThis comes at a time when a number of automakers are considering bringing electric vehicles (EVs) they sell in global markets to India, while Indian automakers are getting ready with their own range of EVs. BMW’s British brand showcased in July its first EV, the Mini Cooper SE for the global market with a starting price of $29,900 (Rs 21.5 lakh, approx.).
Unsure Motown shelves $3 billion capex plansMaruti’s parent Suzuki Motor corporation has deferred its $550-million third plant in Gujarat while Honda Motorcycle and Scooter India has pushed back plans to commence production from its third manufacturing line in Gujarat. Suzuki Motorcycle India has also put off by a few years its proposal to set up a second plant.
Seltos selling fast, Kia wants to make it fasterKia will be launching the Carnival premium multipurpose vehicle by January 2020, followed by a sub-4 metre SUV by July 2020. It isn’t just major urban centres, but even tier-I, II and III cities are showing interest in new offerings.
Utility vehicles may race ahead of hatchbacks next yearUtility vehicles accounted for 40% of the total passenger-vehicle segment in Sept, driven by new SUVs Kia Seltos, Hyundai Venue, and Maruti Suzuki XL6. That was just five percentage points behind hatchbacks that had 60-70% share a decade ago.
JLR plans to launch half a dozen EV models hereRalf Speth, the global CEO of Jaguar Land Rover, told select Indian journalists that the all-electric I-Pace will come in the second half of 2020 and there will be a range of Land Rover hybrid vehicles coming to India.
Car loans hit a bump as lenders tighten normsNBFCs, which in a normal year disburse Rs 25,000 crore to Rs 30,000 crore, used relatively easy CIBIL criteria to lend. Now, their customers are struggling to get alternative sources of funding.