HIGH PRIORITY MARKET- AUTOMOBILE
INCREASING INVESTMENTS BY GLOBAL CAR MANUFACTURERS
Global car majors have been ramping up investments in India to cater to the growing domestic demand. Also, these manufacturers plan to leverage India ' s competitive advantage to set up export-oriented production hubs.
· Planning to double its current investment level of about USD2.5 billion over the next five years.
· Aims to raise its market share from 1.5 per cent in FY13 to 10 per cent by FY19.
· To increase the Chennai Plant capacity to 400,000 units a year in a few years time.
· On 10th September 2015, Ford has signed a MoU with the Tamil Nadu government for increasing the manufacturing capacity of its plant and for establishing new engineering and technology center at Chennai.
· Long term strategy to export 25 per cent of vehicles and to make India compact car global production base.
· Is in the process of expanding its dealer network from 33 in January 2013 to 50 by 2014 end.
· Plans to raise the number of car offerings in the sub USD46,000 category.
· Plans to launch up to eight models over the next 5 – 6 years.
· Honda is planning to invest USD160 million in India to expand its capacity for cars and bike by the end of 2016.
· This will include a new diesel engine component production and a forging plant.
· Expects to invest another USD163 million at Bidadi plant near Bengaluru.
· Toyota is planning invest USD165 million on its new engine plants and projects.
· Plans to invest USD552-737million over the next two to three years to develop new products.
· Increased the plant capacity of 20,000 units per year in Chakan Plant, which is the largest for any luxury car manufacturer in India.
· Expansion of MIDC and MoU, and to invest USD244 mn for capacity expansion in Chakan, Pune.
· Mercedes-Benz will introduce 15 products in 2015, including products without any predecessors in India. These 15 new products are Mercedes-Benz India ' s biggest product initiative till date.
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