Category — Automobile

Volvo’s Managing Director Says GST Is Good for Business

In an interview with the Economic Times, Tom Von Bonsdorff managing director of Volvo Auto India said that the recently introduced Goods and Services Tax (GST) is a business enabler. “The ease of doing business in India will grow. Now we have just transitioned to GST, give it a few months, it will settle down and will be good for business.”

Bonsdorff told the publication that the company will continue to bring hybrid cars into India despite the higher GST levies on this category of vehicles. Hybrid cars are the crucial first step in helping India achieve its 2030 goal of switching to electric cars for personal transport, he added. In 2019, Volvo will launch its fully electric car globally.

Volvo Logo

“We launched our first plug-in-hybrid last fall. We will continue to launch plug-in-hybrids in all the cars that we bring in. We are committed to that,” Bonsdorff said. He also noted that the company had a good start this year and will go forward in its plan to bring in new cars. He was confident of achieving a target of selling 2000 cars and having 25 new showrooms by the end of this year.

July 20, 2017   No Comments

GM Commences Export of Sedans from India

General Motors shipped a consignment of 1,200 Chevrolet Beat sedans to markets in Latin America from its plant located in Talegaon, near the city of Pune, in India. Production of these autos started a year ago. Earlier this year, GM had exported Chevrolet Beat hatchbacks to the same markets.

GM India vice-president, manufacturing, Asif Khatri said that the Talegaon facility is a key export manufacturing hub for the company reports the Times of India.

“GM India’s exports have more than tripled in the past year. GM was India’s third-largest passenger vehicle exporter in May, recording our highest monthly total of vehicle exports at 8,297 units,” Khatri added.

Chevrolet logo

June 27, 2017   No Comments

Rolls-Royce to Increase R&D Headcount in India

Rolls-Royce plans to increase its workforce to three times its current number at its research and development center in Bangalore, India, by end of this year.

Rolls-Royce Director Benjamin Robert Story and Rolls-Royce India President Kishore Jayaraman met Federal Minister for IT Ravi Shankar Prasad to express their interest in engaging with the ‘Digital India’ initiative, reports the Times of India. The company expressed interest in investing in Indian startups working on artificial intelligence, machine learning technology and data analytics.

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June 26, 2017   No Comments

Tesla Seeks Import Duty Waiver Till it Can Make in India

Founder and CEO Elon Musk tweeted that Tesla is pushing for import tax waivers to launch its vehicle in India.

Musk  has shown support for India’s plans to have only electric cars on its roads by 2030. According to BusinessLine, India’s government is willing to talk to Tesla while also clarifying that the local sourcing norms don’t apply to cars.

Import duty of cars in India is as high as 125%. Completely-built electric cars priced less than $40,000 attract 60 percent customs duty. However, if assembled in India, the duty on a completely knocked down unit is 10 percent.

Tesla Cars

June 19, 2017   No Comments

BMW Thrives in India

Munich-based BMW Group India posted a strong double digit growth in 2016 after two years of decline, and has carried the momentum into this year by logging 8% growth till May, confident that this figure will continue to rise in the coming months; it is currently the fastest growing luxury car brand.
BMW 5 Series

The company announced a fresh investment of $20 million. Vikram Pawah, MD and CEO of BMW India said that the firm will focus on profitability, bring in new technology, products, and enhance dealer network and customer engagement. He added that plans to locally manufacture the new 5 Series, will take the number of models made locally to 8, which is almost half its portfolio, reports the Economic Times.

“We are  sitting at less than 2% of overall passenger vehicle market, it can grow to 5-10% in the coming years and BMW would like to drive that growth,” said Pawah.

June 19, 2017   No Comments