Ashok Leyland New Cars in India
Ashok Leyland is a long-established player in the commercial vehicle segment in India. As the name suggests, it is a long standing association between Ashok Motors and British Leyland. In India, Ashok Leyland can lay claim to having built the bus chassis of choice for many decades. Now, recognising the need to broaden its segment offerings, the company is venturing into the LCV or light commercial vehicle space, including people carriers. The Nissan-derived Stile MPV, first shown at the 2012 Auto Expo, is the first offering we'll be seeing in this space.
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Ashok Leyland Car in News
It hasn't been the best of years for the Indian auto industry. Data compiled by the Society of Indian Autmobile Manufacturers (SIAM) shows that over the past 12 months, production has grown by just 1.2 %, from April 2012 till March 2013. The industry produced 1,685,355 vehicles in March 2013 as against 1,845,868 in March 2012, which declined by (-) 8.70 percent.
The Society of Indian Automotive Manufacturers (SIAM) has released a White Paper today, strongly opposing the proposed Free Trade Agreement (FTA) with the European Union. The proposed India-EU FTA seeks to curb and eventually cease import duties on completely built-up (CBU) vehicles imported into India from the European Region. SIAM’s contention is that such a move will adversely impact domestic car manufacturers.
The car price hike post-budget and rising interest rates have taken a heavy toll on passenger car sales in India.
Car prices are set to rise in India, after a 2 % hike in basic excise duty from the present 10% to the proposed 12 %. Additionally, excise duty on large cars will also increase from 22% presently to 24%. However, the government has decided against imposing a ‘diesel tax’, a move which has brought some respite to car-makers in the country.
Car sales in February have been better than expected, especially coming on the back of the depressed sentiment in the market in the last quarter of 2011. Most car-makers have reported better than expected sales, but are cautious before commenting on whether such momentum will be maintained in the coming months.