News By Tag
News By Place
Hunt to Choose the Valuable Car of India Intensifies at 3rd Annual India Leadership Conclave 2012
In the Race for the coveted “India’s Most Valuable Car of The Year Award 2012”, Hyundai EON, Maruti Swift Dzire, Renault Pulse, Volkswagen Polo are in the race to win the coveted award.
In the Race for the coveted “India’s Most Valuable Car of The Year Award 2012”, Hyundai EON, Maruti Swift Dzire, Renault Pulse, Volkswagen Polo are in the race to win the coveted award as the sale of Car sales is expected to grow 11 to 13 per cent in 2012-13 in India & Indian Market set to fly high with rising income level & growing signs of healthy economy
Maharashtra, Mumbai, 4th March 2012: Brand India : The Emerging Superpower. Limitless Leadership, Limitless Possibilities is possibly the most aptly theme at the 3rd Annual India Leadership Conclave & Indian Affairs ( www.indianaffairs.in ) Business Leadership Awards 2012 ( www.indialeadershipconclave.asia ) to be held in the IT city of India Bengaluru, on Friday, 6th April 2012 at Hotel Lalit Ashoka, India as India is set to vote the prestigious & coveted India’s Most Valuable Car of The Year Award 2012 with top 4 stylish & most watched cars of india such as Hyundai EON, Maruti Swift Dzire, Renault Pulse, Volkswagen Polo, are competing to win the credible Award & are the nominees at the four wheeler segments.
India, which has been one of the world’s fastest growing car markets in recent years, suffered a slowdown in demand last year for numerous reasons. But its automobile sector has huge potential of growth in 2012. During the first nine months of the current fiscal year, total four-wheel passenger and commercial vehicles sold in India reached 2.37 million, while two-wheelers in the same period sold around 10 million. Still, India remains one of the fastest-growing automobile markets in the world as an expanding economy boosts disposable incomes among its estimated 350 million middle class populations. Car sales are estimated to jump to 3.0 million units a year by 2016. Global auto makers are flocking to India as half of India’s 1.25 billion population is less than 25 years old. The figure represents 610 million potential future car buyers, which is twice the size of the entire U.S. population and nearly two-thirds of the current global vehicle fleet of 965 million cars and trucks. The Indian market is dominated by two-wheeler, but there is a tendency of migrate on from two-wheeler to four-wheeler. The Car makers are bullish on India as it is widely expected significant growth as per capita income rises in tier-II and -III cities. Despite slowing economic growth, India’s young population, rising salaries and low penetration makes it a key market for global carmakers. The market is only 20 per cent for four-wheels, which is almost bigger than the whole GCC market. Passenger car sales in India have soared by 30% in the financial year 2010-2011 with total sales of 2.5 million cars in the period. The same growth is not expected to continue forward owing to surging raw material costs. In the fiscal year, a total of 64 new cars were launched which coupled along with cheap auto loans boosted car sales to 1.98 million units in the just-ended fiscal year to March 2011 from 1.53 million the previous year. Sales of new cars in India are likely to pick up in the next financial year, industry body Society of Automobile Manufacturers has also predicted. The body forecasts car sales to grow 11 to 13 per cent in 2012-13, well above the zero to two per cent growth it expects for this fiscal year. “There is some slowdown in Asia Pacific but it is a very good market with a huge potential. In the Asia Pacific market, China and India will drive the growth, The Indian market will be the third largest by the end of the decade behind the US and China. The global automobile market is expected to grow by 5 percent in the next two years and most of it will come from the Asia Pacific region
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the largest passenger car exporter and the second largest car manufacturer in India. Maruti Suzuki India Limited (MSIL, formerly Maruti Udyog Limited), a subsidiary of Suzuki Motor Corporation of Japan, is India's largest passenger car company, accounting for majority of the domestic car market. Its newly launched model Maruti Swift Dzire is also rapidly penetrating in the tier1 & 2 Cities. With an annual growth rate of around 20% in recent years, the Indian car market is one of the most buoyant in the world and is expected to become the fourth biggest within three years. To win its share of the market, Renault has acquired manufacturing facilities with the Renault-Nissan plant in Chennai, its own sales network, a logistics centre, an engineering centre shared with the Alliance and a design centre based in Mumbai. Renault Pulse is all set to constitute the core of Renault' product range in India. It will be followed in 2012 by Duster and a sedan. An extensive distribution network through the country will be completed before August 2012. A minimum of 35 cities will be covered (14 were opened as of May 2011). In addition, a Sales & Marketing team was organized within Renault India. These elements demonstrate Renault's ambitious strategy for the indian car market. For the record, Renault entered the Indian market in 2005 when it signed a partnership with Mahindra & Mahindra. In April 2010, this partnership was restructured so M&M is now responsible for the management of the Logan in the Indian market. Renault will continue to support M&M and the product through a License Agreement and supply of key components, including the engine and transmission. Rising input costs have forced French auto major Renault India to hike the cost of its latest hatchback 'Pulse' by two per cent, effective from March. The company had introduced Pulse in the domestic market at the Auto Expo in held January at an introductory price of Rs 5.77 lakh (ex-showroom Delhi).
Volkswagen Polo, the German automaker Volkswagen, has launched the New Polo in India, it was showcased at the Auto Expo 2010 but prices were not announced. It was first unvieled the all new 2009 Polo at the Geneva Auto Show '09. Volkswagen also unveiled the race version of the car in the Indian Market & is equipped with a 1.6-litre diesel engine that produces 130hp of peak torque and 250Nm of maximum torque. This racing car also comes with a 6-speed manual gearbox, Sachs adjustable racing suspension as well as all the necessary safety equipment such as an FIA approved roll cage.
The Final Winner for this coveted award will be announced on a star-studded glittering Award Gala Night on 6th April 2012 & by than India would have chosen their dream & Valuable car. It may be recalled that last year Fiat India received the prestigious Award last year at (www.indialeadershipconclave.com )2nd Annual India Leadership Conclave 2011 in Mumbai.
# # #
Headquartered in Mumbai, Network 7 Group Media Outfit is backed & operated by some of the biggest think-tanks of the contemporary society whose ideas & actions are reflected in the form of editorials & exclusive news findings. Network 7 Group Media is present in the form of digital media production, publications, high-profile international events & healthcare communications.