Tag: auto industry
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Coronavirus Impact on China Parts Supply and Indian Aftermarket
Good news first : According to Reuters news, Honda, Nissan, Renault are resuming their manufacturing unit in Wuhan / Hubei province. China’s factories are beginning to come back to life after an extended lockdown in the country’s industrial hubs, and that is good news for several Indian carmakers that have their supply chains located beyond the…
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500 Cr for development of a manufacturing base for electric vehicles in India
FAME Phase II has proposed setting up of a venture capital fund of INR 500 Cr for development of a manufacturing base for zero-emission vehicles and their components, taking prototypes to manufacturing, and development of R&D among others. As many as 136 startups related to electric vehicles already existin India. “In order to support such…
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The global automotive aftermarket is expected to reach $722.8 billion by 2020
According to recent report, In USA, there is still 75% of aftermarket auto repair is performed by independent auto repair shops while 25% of the business lives with dealerships. The average length of vehicle ownership for new and used vehicles has increased 60% in the last ten years. Although Americans may be buying newer vehicles,…
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Special auto zones, dealers demand
The automotive market is passing through a tough phase due to economic slowdown and high interest rates. Customers are confused and expectations are high while buying new auto. The Federation of Automobile Dealers Associations (FADA), at Hyderabad International Auto Show, said state should set up special auto zones to help customers. The idea is to…
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Middle class large population contributes to auto industry growth in India
Recent report shows that there are prospects of growth for the Indian auto industry because the country has a middle class larger than the population of the US and a much lower vehicle population as compared to other developed nations. Car manufacturer are targeting people with launch of small cars and affordable to middle class…