“It will act as a catalyst for sustainable growth of the Indian automobile industry,” Deshmukh said at the golden jubilee celebrations of the Automotive Component Manufacturers Association of India (ACMA) Tuesday.
Talking to media persons on the sidelines of the event, Mr. Vilasrao Deshmukh said the new body would be set up within the next few months. “I can’t tell you the exact timing. But it will be soon. Hopefully within a few months.” he said.
3 hours ago TOKYO — Toyota Motor Corp. has suspended auto exports to Iran indefinitely in line with global sanctions against Tehran's nuclear programme, the company said Wednesday.
The world's largest carmaker has halted auto shipments to Iran since early June, "considering the international environment", Toyota said.
Toyota's auto shipments to Iran sharply declined to some 250 Land Cruiser four-wheel-drive and other vehicles in 2009 from 4,000 units in 2008. Toyota has exported 220 cars so far this year.
The Indian auto industry has new launches, penetration levels and low interest rates to thank for the upward movement it has been witnessing this year.
As per data released by society of Indian automobile manufacturers (Siam), the auto sales have grown by 31.5 per cent in comparison to sales figures last July. Overall, 1,237,461 units were sold surpassing the previous best of 1,226,944 units in March and 941,070 units sold in July last year.
Vishnu Mathur, director general, Siam attributed the growth to availability of finances, rural penetration and new model launches.
(Adds July wholesale numbers in third paragraph.) Aug. 10 (Bloomberg) -- China’s auto sales may rise to 16 million this year, an auto makers’ group said, boosting its forecast from a previous estimate of 15 million.
Original Equipment Manufacturer Diesel Tanks
Vehicle sales will be higher than previously expected judging by deliveries in the first half of the year, Beijing- based Dong Yang, vice president of the China Association of Automobile Manufacturers, said in a phone interview today. The State Information Center also said in April auto sales may rise 17 percent to 16 million from a record 13.6 million last year.Even so, sales growth is slowing from 2009, when government incentives helped demand surge 46 percent, making China the world’s biggest automobile market. Wholesale passenger-car deliveries in July increased at the slowest pace in 16 months, the auto makers group reported yesterday. Monthly totals may begin shrinking from year-earlier levels as early as September, according to the Daiwa Institute of Research.
Total bike exports increased by 45.55 per cent to 1,30,148 units in July from 89,420 units in the same month of 2009, SIAM said.
Bajaj Auto exported 87,643 units in July this year as against 59,002 units in the same month last year, translating into a growth of 48.54 per cent, SIAM said.
Original Equipment Manufacturer Diesel Tanks
Domestic market leader Hero Honda exported 11,827 units, registering a growth of 75.65 per cent over the year-ago period's overseas sales of 6,772 units.
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