India Autos Report - Business Monitor International - Industry Reports

India Autos Report

India Autos Report - Business Monitor International - Industry Reports
India Autos Report
Published Aug 13, 2016
40 pages — Published Aug 13, 2016
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Abstract:

In July ----, General Motors Company (GM) put on hold its planned USD-bn investment in India and is presently reviewing its future product plan for the country due to a regulatory crackdown on diesel-powered vehicles and changing consumer preferences. In ----, the US automaker had committed to invest USD-bn in India, to double its market share to -.- by ---- and make the country a global export hub. ...GM s Indian sales fell by --.- in the financial year ended March -- ----, with its share of the domestic passenger vehicle market sitting at just -.- in June ----. This strategy revision by GM falls in line with our view that the ongoing uncertainty surrounding regulation on large engine capacity diesel-powered vehicles and the shifting consumer preference towards petrol- powered vehicles will prompt automakers to expand their petrol vehicle offerings and offer smaller diesel engines). GM s Chevrolet brand currently sells two SUVs in India, both with diesel engines above the banned -,---cc mark, which means that they are ineligible for sales in India s National Capital Region (NCR). ...GM s Chevrolet brand currently sells two SUVs in India, both with diesel engines above the banned -,---cc mark, which means that they are ineligible for sales in India s National Capital Region (NCR). Therefore, with the company seeking to expand its SUV product offering, GM will either have to look to provide petrol-powered versions of these vehicles (to tap into the growing shift towards petrol- powered vehicles) or downsize its diesel engines to make them eligible for sales in the NCR region in order to revive faltering passenger car sales.

...Firstly, on June -- ----, Indian Prime Minister Narendra Modi s cabinet approved the recommendations of the Seventh Pay Commission to hike the pay and pensions of central government employees by --.-- . The pay hikes, backdated to January - ----, will take the minimum salary for a government employee from INR-,--- (USD---) per month to INR--,--- (USD---) per month. Cabinet secretaries and other top employees will see their salaries increase from INR--,--- (USD-,---) per month to INR---,--- (USD-,---). Furthermore, over the next two years India s -- states will follow the government s lead by raising the salaries of their employees, although, due to their strained finances, it is not expected to be on the same scale offered to central government employees. We believe this added boost to government employees pockets will help bolster private consumption and prove a boon for car sales in India over the current fiscal year. ...This reduction could feed into a lowering of auto loan rates across India. Current interest rates charged on car loans reportedly range from --.----.- , according to the

...Across ----, Indian new vehicle sales continue to show steady growth, in line with our view on the market. We believe this a recently-announced increase to public sector salaries will help bolster private consumption and prove a boon for car sales in India over the current fiscal year. ...

  
Source:
Document ID
1748-9946
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "India Autos Report" Aug 13, 2016. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/India-Autos-Report-2026-3>
  
APA:
Business Monitor International - Industry Reports. (2016). India Autos Report Aug 13, 2016. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/India-Autos-Report-2026-3>
  
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