Indian automakers introduce new models and variants to boost sales during… — Volkswagen Polo hatchback I

29 Апр 2015 | Author: | Комментарии к записи Indian automakers introduce new models and variants to boost sales during… — Volkswagen Polo hatchback I отключены
Volkswagen Polo hatchback I

Indian automakers introduce new and variants to boost sales festive season

Given the headwinds – an unfavourable exchange for the Indian rupee and a slowing – the potential benefits of a better and festive season are expected to be IHS Automotive has thus lowered its for Indian light-vehicle sales in to 3.19 million units, 2.7% year-on-year.

Domestic and automakers are launching new models or upgraded versions in India in a bid to tap the expected surge in demand the approaching festive season. The Indian festival of Onam take place in September, by others, including the main of Diwali in November, which results in a spurt in sales as the is considered an auspicious time for new purchases. In the hope of tapping this positive sentiment, are launching a slew of new models the Indian market.

Market Maruti Suzuki has launched its compact hatchback, a new variant of the R small car (see India: 22 2013: Maruti launches compact hatchback ). Mayank chief operating officer and marketing) of Maruti Suzuki stated, The initial response to the season has been good. the first two days of Onam, sales have increased by 20% over last year. won’t be as euphoric as last But with the Stingray, we hope to young customers and boost in these challenging times. best car seller Hyundai is bringing out its Grand i10, a version of its existing i10 subcompact during September – just in to coincide with the festive Equipped with a diesel the Grand i10 is seen as a crucial for Hyundai as it aims to break near monopoly in the B-segment market (see India: 12 2013: Hyundai India to Grand i10 in September, Maruti to rival next year ).

Similarly, Volkswagen (VW) has its Cross Polo – a crossover of its Polo subcompact hatchback – (23 August). The New Cross Polo is at INR775,000 (USD11,897) and will be with the same 1.2-litre engine and 5-speed manual already used in the Polo. Saxena, managing director, VW Cars, said, The Polo is an carline in the Indian portfolio and ongoing updates we keep it and exciting for our customers. The Cross has been created for those at a premium hatchback in a sporty style. Also from the VW Skoda has started rolling out the Octavia sedan in India. The will make a return the festive season after stopped in 2010 after emission regulations were Skoda chief executive (CEO) Winfried Vahland The new Skoda Octavia is now being at purpose-built facilities in one of the international markets. By far our most important in the Indian market is also an of growth for Skoda (see 12 August 2013: Skoda back Octavia nameplate to ).

Nissan also unveiled the compact sport utility (SUV) earlier this and will start selling it in the market in September. The Terrano, shares its underpinnings with alliance partner Renault’s SUV, will be priced INR1 million and marks the entry into this competitive category (see 21 August 2013: Nissan Terrano compact SUV in India ). utility vehicle (UV) leader Mahindra Mahindra is also planning to cash in on the season by launching a scaled-down and version of its premium SUV, the The automaker is believed to be already on the lower-specification version, which be built on the existing XUV platform. The new will enable the automaker to the recent rise in excise implemented by the government, which has affecting MM’s performance in the passenger car market (see 11 July 2013: MM announces suspension, readies lower-specification – report ).

Volkswagen Polo hatchback I

Also joining the bandwagon are automakers, which are also out new models to cash in on the expected in sales this festive Audi has introduced a lower-priced of its premium Q3 SUV this week – the new Q3 S edition – and received 125 bookings on day. Rival BMW will its 1 Series premium hatchback in in September, while Land has introduced a low-cost edition of the 2 in India – the Freelander 2 S Business – that does away a few features, allowing it to be priced lower at INR3.76 million.

Outlook and implications

With vehicle market facing its straight drop in annual this year, automakers are to take advantage of the festive which traditionally sees an in demand. This is despite the that the Indian passenger market continued its declining in July, marking the ninth month of decreasing sales. vehicle sales declined year-on-year (y/y) to 186,239 last month. According to released by the Society of Indian Manufacturers (SIAM), passenger car fell 7.4% y/y during to 131,163 units. Even the SUV which had avoided the slowdown in the six months of the year, declined in with volumes falling y/y to 37,010 units, although (YTD) growth in the segment positive at 14.1% y/y (see 13 August 2013 : Indian vehicle sales slide y/y in July ).

This dip in sales has come discounts and other incentives as free insurance offered by Rising fuel prices, borrowing costs, job loss in a sluggish economy, and an unfavourable rate have dampened and are causing potential customers to put off car With the first seven of the calendar year seeing a y/y drop in total vehicle the industry has renewed its calls for intervention. The SIAM is seeking a package from the government, a reduction in excise duty and modernisation by government departments. It is a serious situation for the industry, Vishnu Mathur, director-general of the adding, Automakers have adjusting temporary and casual with market demand. A market recovery in the second of the year now appears to be under as a result of a depreciating Indian against the US dollar, which has the central bank’s scope to cut rates. The only two positive at play seem to be a good season, which is expected to overall market sentiment and in rural areas, and the approaching season, which is fuelling of a sales rebound. Although new will create some excitement in the market, given the macroeconomic conditions, a strong of sales looks highly this year. In light of the headwinds and an unfavourable currency, IHS projects light-vehicle sales in to drop 2.7% y/y to 3.19 units in 2013.

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