As per these projections, 6-7 million units of new vehicle sales of the full range of electric vehicles, along with resultant liquid fuel savings of 2.2 – 2.5 million tonnes can be achieved in 2020.
Indian Prime Minister Manmohan Singh, while unveiling the National Electric Mobility Mission Plan 2020 in New Delhi yesterday, said that it was very important that we make all possible efforts to reduce the transport sector’s dependence on oil.
Automobile exports from the country dipped by 2.92 percent year on year at 21,86,834 units during April-December last year, thanks to the slowdown that has gripped the global markets.
Though the diesel segment is logging strong volumes, Maruti Suzuki expects the demand for petrol cars will gain traction in the near future.
India's industry body, the Society of Indian Automobile Manufacturers (SIAM) might as well reduce its growth forecast to 0-1 percent from its previous 1-3 percent projection, Sugato Sen, Deputy Director General, SIAM said today.
Mahindra Reva Electric vehicles, part of homegrown auto major Mahindra & Mahindra has once again postponed the launch of its much-awaited next generation electric vehicle, Mahindra Reva e2o, due to the delay in the announcement of the National Electric Mission Plan (NEMMP) by Government of India.
The German premium car manufacturer, BMW has maintained its lead in 2012 in the Indian luxury car market, though its rival, Audi, from the stable of Volkswagen had narrowed the gap.
Total Indian two-wheeler sales in December 2012 increased by 4.45 percent to 1,137 units from 1,088 vehicles in the year ago period.
India remains an attractive investment destination, even as taxation uncertainties pose a challenge, according to global consultancy Deloitte.
The shares of Tata Motors rose by 18 percent since December 12, 2012 in contrast with 2.2 percent increase in the Sensex after the firm's UK arm, JLR reported a stronger-than-expected November sales.
Buying was witnessed in index heavy-weights such as Reliance Industries along with Tata Motors after Credit Suisse and CLSA upgraded their ratings on the auto major.
C Rangarajan, Chairman of the Prime Minister's Economic Advisory Council said the Indian Government should act quickly to raise diesel rates to bring them in line with global prices in order to reduce its subsidy bill.
Bhushan Steel, one of the leading steel makers in the country is contemplating on raising Rs 475 crore through rights issue, which would be launched in the third week of this month.
Defiance Technologies Limited, a Hinduja Group Company, yesterday announced its Pre-Delivery Vehicle Inspection mobile app for the automotive industry has been declared the winner of the SAP® Mobile Apps Partner Challenge in India at the SAP TechEd 2012 conference held on November 28-30, 2012 in Bangalore.
SpiceJet Ltd, India’s most preferred low cost airline, now connects Tiruchirapalli in Tamil Nadu with services to Delhi and Mumbai (via Chennai). The airline is connecting Tiruchirapalli with state capital Chennai.
