French automaker Renault along with its Japanese alliance partner Nissan plans to export components worth 250 million euros over the next three years.
Experts say the components manufactured in India are good 15-20 per cent cost effective than other countries. In fact, Renault Nissan saved 1 billion euros in revenues in 2009 by sourcing from countries including India and Renault Nissan CEO Carlos Ghosn has already set a target of saving 1.5 billion euros this year.
Bajaj Auto would focus on delivering “path-breaking performance” with its low-cost small car rather than just concentrate on a low price band.
The company said on Wednesday that in terms of fuel efficiency, emissions and maintenance, it is aiming for a 50 per cent improvement over competition.
The Pune-based two- and three-wheeler maker is developing the small car in partnership with French automaker Renault-Nissan. The vehicle is scheduled for launch by 2012. Renault had earlier mentioned a target price of $2,500 or Rs 1.12 lakh. The car is expected to compete at the Tata Nano price point.
Bajaj Auto on Wednesday said its proposed $2,500 ultra low-cost car, being developed in partnership with Renault-Nissan, would give a mileage of 30 km a litre to give a greener vehicle and attract two-wheeler customers. The company also unveiled a new range of ‘RE' passenger vehicles that are loaded with features and BS III compliant. “We have been focussing on developing a car that delivers monthly cost of ownership low enough to motivate two-wheeler buyers to upgrade into a car. Our aim is to deliver a mileage of 30 km a litre,” Bajaj Auto Managing Director Rajiv Bajaj told journalists here.
Pointing out that the company was taking cue from its motorcycle manufacturing experience to develop the small car, Mr. Bajaj said: “Our experience with motorcycles is that unless there is 50 per cent increase in mileage, it is not considered good by customers. Our intention is to do a path breaking job with that kind of fuel economy. Our aim is also deliver an eco-friendly product with least carbon emissions.” On the new ‘RE' vehicles, he said the new range would deliver even more value. RE205D comes with 200cc engine with oil cooler, delivering more life. It is available in two fuel variants -- CNG and LPG.
Similarly, with RE205M, Bajaj has created a new category in the passenger vehicle space, delivering high mileage and lowest operating and acquisition costs. RE 205D will be available at Rs.1.27-lakh (CNG) while RE 205M will be priced at Rs.1.36-lakh (CNG).
At first glance, April sales figures of most Indian auto firms suggest a change from the normal trend. Contrary to the cyclical dip seen in April after robust sales from January to March, this time round companies have turned in a better performance.
In April, Maruti Suzuki India Ltd’s volumes shot up by 30% year-on-year to 93,058 vehicles. The highest growth rate was in Omni vans, which grew by 38%. Domestic sales were 23% higher.
Among two-wheeler makers, Bajaj Auto Ltd registered its highest ever monthly sales at 313,000 in April, around 85% higher than the year-ago period. Sales were flattish at Hero Honda Motors Ltd, mainly on account of a strike in Exide Batteries Ltd factory, which constrained two-wheeler despatches.
(NYSE:F) reported today that sales for April 2010 rose nearly 25% from April 2009, to 167,542 vehicles. Ford's results were better than analysts' expectations.The industry is still seeing sales gains as a result of buyer incentives. According to Edmunds.com, Ford's combined incentives totaled $3,374 in April, Toyota Motors (NYSE: TM ) spent $2,498 per vehicle on incentives, and Honda Motor Co.
General Motors reported an increase in sales of 6.4% in April compared with sales in the same month a year ago. The company sold 183,997 cars and trucks in April, and newly launched models accounted for one in every four cars GM sold.
The hottest auto maker out there is Korea's Hyundai Motors, which saw its April sales jump 30%, to 44,023 vehicles. Hyundai's incentives packages totaled $1,792, next to Honda as the lowest total for the month. The industry average for incentives packages was $2,654 according to Edmunds.
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