Sunday, October 12, 2008
Super luxury car makers surpass sales targets
New Delhi, A burgeoning number of high net worth individuals are driving the super luxury car market in India with world’s top brands such as Bentley and Rolls Royce surpassing their annual sales targets ahead of time. Typically, super luxury cars cost Rs 1.5 crore onwards. This year Bentley achieved its annual target of selling 25 cars in just eight months. Similar has been the situation with Rolls Royce. “The Indian market is allotted a quota of 25 cars a year. By August our order book had filled up. And we are requesting Bentley UK to allot some more models for the domestic market,” said Mr Amit Aggarwal, Corporate Sales Manager of Bentley in New Delhi. He was speaking at the sidelines of the launch of Continental Flying Spur that claims to be the world’s fastest car. The Flying Spur is a four door luxury saloon which can run 322 km/hour and will be sold at an approximate price of Rs 2.5 crore. He explained that since the cars are hand-crafted and not assembled by machines, it takes around six months to deliver to a customer after the order is placed. The process also constrains the company from producing more models. Rolls Royce dealership in Mumbai also said a robust demand in the first six months boosted sales of its models. “In the first half of the year, we crossed our target of eight-ten units. Even though the market sentiments seem to be slowing down the sales of super luxury cars, we would still exceed our figures. For the entire calendar year, the company could sell 20 units,” said Mr Sharad Kachalia, Director, Navneet Motors. According to Mr Satya Prakash Bagla, Managing Director, Bentley India, there are 50,000 individuals in the country earning income higher than $1 million. “The market is huge for such cars,” he commented. Last year, a Merrill Lynch report estimated the number of high networth individuals in the country growing by 20 per cent annually.
Thursday, October 2, 2008
Mahindra Renault
New Logan cars were launched by Mahindra Renault to replace the older models of Logan cars in India. The new model has been developed from extensive feedback received from the customers that carries various new features to lure the customers.
Petrol version of the new model will be priced between Rs. 4.61 lakh and Rs. 5.93 lakh (ex-showroom) and the diesel version will be available at Rs. 6 lakh and above. According to Gerald Porcario, Marketing Head, Mahindra Renault India, the petrol version will deliver a mileage of about 14 km and diesel version will deliver a mileage of 18 kmpl.
Mahindra Renault has recently shipped its first batch of its model – Logan to South Africa. It also plans to launch new models in India. It recently opened its new design centre in Mumbai which is an integrated part of Renault’s international network of design centres across the globe. The design centre is under high security which is a satellite design centre and will work on projects from Mahindra Renault apart from other projects from the parent company.
Ford sets early 2010 target to launch small car in India
| Cars that'll make you drool |
CHENNAI: Armed with a $500-mn investment outlay,Motors has set early 2010 as the target to launch a small car in India, start its new engine-making unit and double the assembly line capacity, a top official said here.
The US-based giant will also unveil its refurbished Ikon by next month to expand its range of offerings in the country that includes Fusion, Endeavour and Fiesta, said Michael Boneham, managing director and president of Ford India.
"Ford now has a presence in only 30 percent of India's automobile market segments. We are entering other segments too. These are exciting times," Boneham told IANS at the company's factory at Maramalai Nagar on the outskirts of the Tamil Nadu capital.
"We are also commissioning a new enginemanufacturing unit. It will serve both the domestic and global markets. It will have the flexibility to produce diesel and petrol engines. The idea is to go for higher localisation in the months to come."
Speaking about the small car project, the Ford official said it was being designed and developed specifically for India by a global team. "It will meet the needs of Indian conditions - like water wading, air-conditioning and emission standards."
While declining to divulge any further information on the project, Boneham said it will have a sub-1.2-litre engine with a length of no more than four metres to avoid higher taxes. "It will be very, very competitive in that segment."
Ford's first offering here was the "Josh machine" Ikon that rolled out in 1999 from this city, often called the Detroit of India for hosting auto companies like Hyundai, BMW, Mitsubishi, Ashok Leyland, Caterpillar, TVS, Tafe and Same.
Nissan and Daimler are among some global players that have definite plans to set up their units in this city.
Boneham said the company's integrated engine plant for 250,000 units per annum will be its first outside Europe and will make low-displacement engines for cars to be rolled out of its Indian plant for both domestic market and exports.
He said the existing $26-mn diesel engine assembly plant, with a capacity for 50,000 diesel and 10,000 petrol engines for Fiesta and Fusion, would be eventually integrated with the new plant.
The company has the capacity to assemble some 100,000 cars per year at its facility here, which will be doubled to 200,000.
Queried about the future of its tie up with the Indore-based Avtec that supplies 1.6 litre petrol engines, Boneham said: "We will continue to work with them. We will look at sourcing components from Avtec."
He also sought to dispel the perception that the cost of ownership of cars was high compared with those offered by Japanese and South Korean companies, as several factors like fuel efficiency and servicing were also involved.
"As per our study, in some parts we are costlier and in some others we are cheaper. Overall, we are very competitive in this area. We are working to lower component costs further. Our diesel engine is more fuel efficient than many others," he said.
"High localisation is intended to achieve that. We are extremely quality conscious. Today, we can say we are far more satisfied and comfortable with our vendors."
The US-based giant will also unveil its refurbished Ikon by next month to expand its range of offerings in the country that includes Fusion, Endeavour and Fiesta, said Michael Boneham, managing director and president of Ford India.
"Ford now has a presence in only 30 percent of India's automobile market segments. We are entering other segments too. These are exciting times," Boneham told IANS at the company's factory at Maramalai Nagar on the outskirts of the Tamil Nadu capital.
"We are also commissioning a new enginemanufacturing unit. It will serve both the domestic and global markets. It will have the flexibility to produce diesel and petrol engines. The idea is to go for higher localisation in the months to come."
Speaking about the small car project, the Ford official said it was being designed and developed specifically for India by a global team. "It will meet the needs of Indian conditions - like water wading, air-conditioning and emission standards."
While declining to divulge any further information on the project, Boneham said it will have a sub-1.2-litre engine with a length of no more than four metres to avoid higher taxes. "It will be very, very competitive in that segment."
Ford's first offering here was the "Josh machine" Ikon that rolled out in 1999 from this city, often called the Detroit of India for hosting auto companies like Hyundai, BMW, Mitsubishi, Ashok Leyland, Caterpillar, TVS, Tafe and Same.
Nissan and Daimler are among some global players that have definite plans to set up their units in this city.
Boneham said the company's integrated engine plant for 250,000 units per annum will be its first outside Europe and will make low-displacement engines for cars to be rolled out of its Indian plant for both domestic market and exports.
He said the existing $26-mn diesel engine assembly plant, with a capacity for 50,000 diesel and 10,000 petrol engines for Fiesta and Fusion, would be eventually integrated with the new plant.
The company has the capacity to assemble some 100,000 cars per year at its facility here, which will be doubled to 200,000.
Queried about the future of its tie up with the Indore-based Avtec that supplies 1.6 litre petrol engines, Boneham said: "We will continue to work with them. We will look at sourcing components from Avtec."
He also sought to dispel the perception that the cost of ownership of cars was high compared with those offered by Japanese and South Korean companies, as several factors like fuel efficiency and servicing were also involved.
"As per our study, in some parts we are costlier and in some others we are cheaper. Overall, we are very competitive in this area. We are working to lower component costs further. Our diesel engine is more fuel efficient than many others," he said.
"High localisation is intended to achieve that. We are extremely quality conscious. Today, we can say we are far more satisfied and comfortable with our vendors."
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