Hyundai has lot in store as agenda

Following two special customer initiatives like road assistance program, Hyundai has unleashed its strategies for more variants of existing cars. The company director for Marketing &Sales disclosed that the road assistance program is intended to provide trouble-free and hassle-free round the clock drive for customers. The scheme will begin from Feb1 and will be in force for 2 years for new buyers at nominal tariff.

The platform has brought the net customers of i20 through its fan club. For future, there will be new variants to the existing models fulfilling the need of all sectors. The small car is on its infancy and will materialize in another 3 years. The company foresees 11%growth in 2010 with flat export market. The price hike might be effected soon, as a result of rise in inputs, which is inevitable, according to the company sources.

Ford Ikon plus

Ford added a new variant of Ikon called Ford Ikon Plus. The new Ford Ikon Plus will be available in both petrol and diesel options and comes with added security features, Ford India said in a statement. “The new variant is a follow up to the response witnessed on the Ikon iKool last year,” Ford India executive director (Marketing, Sales and Service) Nigel Wark said

Hyundai to hike prices from February 1

Effective February 1, Hyundai will increase its prices upto Rs9000. The reason is the hike in input materials and the exact hike for each model will be publicized during mid February. Thus, Honda joins Maruti, Ford and Toyota in this regard. GM has increased its rise by 1.5% effective January 5 while Hyundai is increasing its cost with the launch of Bharat IV petrol and diesel version.

Double-digit growth is Mercedes India

The major luxury car maker Mercedes Benz has targeted for double-digit growth in 2010. The launch of E-class models, by the company’s CEO and MD, marked the initiative for a range of products in the offing. The sole property of Daimler, the company has its unit in Pune (@Rs250 crore investment) for making cars and trucks @5000-12000 units capacity, with additional investments in Chennai unit. The company presently does the job with Indian suppliers

Nissan

India has shown its foray as the potential ground for small car and major car makers are entering the race. Nissan for its part is on the verge of launching its small car from July. Small car segment occupies two-thirds of the entire market in which Maruti Suzuki is dominant. Nissan slated the opening of the unit in March, followed by production in May and selling of the car in July, said its MD for India.

Once the production pricks up export will be done in late 2010 by making India as a global manufacturing hub. India is projected to increase the small car market by triple-six million units in another ten years. The paralyzed Western market made companies like Ford and Toyota to focus on the Indian market. India ought to be the very best market for Nissan after Russia and China.

Honda Jazz on discount drive

The dealers of Honda Jazz are thriving to clear the 2009 models stock by offering discounts worth Rs.40000. The idle sale(269 units out of 1066 produced in December) resulted with stocks dumping last month at the price tag of Rs6.98-7.33 lakh. The dealers could sense the fingers crossed and have come out with discount of Rs40000 in addition to minimum interest – @5.8% against 9.5% for vehicle loans.

Honda has nothing to do with the offer which the dealers like to take on till this month end, said a dealer. Yet another dealer said that the firm is extending financial assistance in place of discount. The offer started paying the dividends with some dealers pushing some units in the last few days.

GM

The powertrain facility of GM at Talegaon is all set for commissioning from November, it is learnt. This unit is allocated the production of 1.3 lit petrol engine for Beat and 1.2lit petrol engine. The yearly capacity will be increased to 1.6 lakh units from the current 1.4lakh units. Further there will be production of 1 and 1.5 lit petrol and diesel engines and engines exclusive for compact cars. The surplus capacity of engines will be exported to Asia Pacific with options of selling engines to third parties and forwarding to SAIC (China) are wide open.

GM’s production figures for FY10 (April-December) was 37145 units comprising Spark and UV-A with Beat expected to be sold a monthly 5000 units. Meanwhile till the operation of this powertrain, engines will be sourced for the cars globally. Outsourcing of components will also be effected from 40% to 100%. Talegaon unit is invested with $510 million of which the first phase got $210 million. The production increase of the cars from the current 140000 units to 300000 units is also in the agenda.

Most brand cars get price hike

Close on the heels of Maruti other car makers Tata (Indica), M&M (Xylo, Scorpio and Bolero) have too increased the prices . Indica and Indigo ranges to cost higher by Rs5000-8000. M&M’s Scorpio gets the hike of Rs6400-9300, Xylo Rs4600 and Bolero to be costlier by Rs4800. These prices are applicable to new models also. The Senior VP for M&M disclosed that the chief reason for this rise is the increase in the inputs. Maruti was the first to increase the price by Rs10000 and Hyundai is on the process. Honda Siel and Toyota justify the price rise on the appreciation of Yen. Honda has another reason that imports 100% content against the earlier 25%.