Premier New Cars in India
Premier Ltd. (formerly The Premier Automobiles Limited) is a car manufacturer based in Mumbai, India. The company was established in 1944 along with Chrysler Corporation for licenses to build a Plymouth car and a Dodge truck, to be sold under the Dodge, Plymouth, DeSoto, and Fargo brand names. Premier also made a licensed version of the Fiat 1100 which later continued almost unchanged into the late 1990s as the Premier Padmini with a 41PS, 1100 cc engine and built at their now defunct Kurla factory in suburban Mumbai. Later models included the Premier 118NE (named after its 1180cc Nissan engine and transmission from the Nissan Cherry), a version of the 1960s Fiat 124 built in a then-new (but now defunct) factory at Kalyan, considered a luxury car in India till the influx of modern cars in the 1990s. With market liberalisation, Premier also teamed up with Peugeot to build a outdated model of the popular Peugeot 309 in India. Initial demand was high but labour problems and poor dealer service led to problems which were compounded when Premier also aligned with Fiat to manufacture the Fiat Uno. Peugeot pulled out of the venture around 2001 after only a few thousand cars sold. In November 2004 Premier restarted operations by building a small diesel powered van called the Sigma. It was based on a 1980s Mitsubishi Varica design licenced from China Motor in Taiwan, with a Peugeot engine from the 309. In October 2009 Premier re-entered the Indian passenger vehicle market with a compact SUV named RiO.
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Premier 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.
Fiat India and Premier have signed a three-year agreement for the supply of Fiat’s 1.3-litre Multijet diesel engine to be used in Premier’s compact SUV Rio.
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.