Category — Automobile

India Serves as Low-Cost Innovation Platform for Ford Africa

Ford Motor Co., plans to use low-cost engineering it learned in India to develop compact models for other emerging markets, executives said, emulating a strategy used by Asian rivals that outsell it in the world’s fifth-largest auto market, reports Reuters. Ford aims to expand market share from the current 3% with its first India-specific small car, the budget Figo Aspire, tagged at a starting price of $7,557. The fuel-efficient engine built for the Aspire will also be fitted into other vehicles Ford plans to export to Africa and Southeast Asia.

Figo Aspire

Figo Aspire

Compact cars, are key to the growth of automakers: global sales of such cars are expected to rise by more than a third to 11.4 million by 2020, according to IHS Automotive, and India is expected to become the world’s third-largest market by 2020, when sales of compact cars are expected to double to around 1.73 million.

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August 15, 2015   No Comments

LyondellBasell to Acquire SJS Plastiblends of India

Houston-based LyondellBasell Industries announced that it has entered into a definitive agreement for the acquisition of SJS Plastiblends Pvt. Ltd., a polypropylene compounds manufacturer, located in Aurangabad in the western state of Maharashtra, India reports CNN Money.

“This acquisition will expand our global PPC manufacturing footprint and allow us to better compete in the long-term growth of India’s automotive market ,” said Bhavesh V. (Bob) Patel, CEO and chairman of the management board of LyondellBasell.

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August 15, 2015   No Comments

Growing 40 Percent Month-on-Month, Uber Invests $1 Billion in India

 Uber has announced a $1 billion investment for the Indian market for the next nine months. Head of Uber India, Amit Jain, said the investment will be used to improve operations and establish a better customer support network, reports The Washington Post.

Uber hopes to hit 1 million rides per day and expand its services beyond the 18 cities in India where it already operates. This move will make India the largest geographic market for Uber.

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August 15, 2015   No Comments

Volvo Seeks to Double its Market Share in India to 10 Percent

Swedish car maker Volvo has targeted a 10% market share in the luxury car segment in India by 2020, and has plans to introduce 4 new car models in the country reports DNA.

“We have grown quite a bit last year and want to continue that growth. We grew 30% and sold 1,200 units,” said Volvo Auto India managing director Tom von Bonsdorff while inaugurating the company’s first dealership in New Delhi. “We are targeting at 10% segment share. Currently we have 4.5% segment share and with the upcoming launches and expanding dealership, the target can be achieved. India is one of the fastest growing markets for Volvo,” he added.

Bonsdorff stated that the company wanted to be on par with their German competitors, both in pricing and brand value besides improving their products to be more human-centric and safe.

Volvo Logo

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August 8, 2015   No Comments

GM Will Invest $1 Billion in India

The Detroit car maker General Motors Co., said that it will invest $1 billion over the next few years to turn India into a global export hub. This investment will be part of a $5 billion commitment to develop a global family of Chevrolet vehicles along with Shanghai Automotive Industry Corp the state-owned Chinese auto making company.

In India the plan is to produce 10 new Chevy vehicles in the next five years, beginning with the Trailblazer this October and Spin MPV in early 2017, says The Detroit News. GM hopes that the new vehicles will help Chevy double its 1.8 percent market share in India by 2020 when the country is expected to become one of the world’s three largest auto markets.

“With this investment we plan to tap India’s potential as a market and as a low-cost manufacturing base for the future,” GM’s chief of international operations, Stefan Jacoby said, adding that India will likely compensate for the slowdown in China.

 

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August 6, 2015   No Comments