In India, car sales moderated in May with market leader Maruti witnessing a double digit growth. Maruti Suzuki India Ltd. and Hyundai Motor Co. - India's top two auto makers by sales - gained in May as demand for their Ritz, i10 and A-Star small cars rose.
However, monthly sales were down for Mahindra & Mahindra Ltd., the nation's largest maker of sport-utility vehicles (SUVs), due mainly to a two-week strike at its Nashik plant in western India.
Sales at Maruti were up for the fifth straight month, gaining 16% in May to 79,872 vehicles.
Local sales increased 10% to 70,785 vehicles, while exports surged 87% to 9,087 vehicles, said the Indian unit of Suzuki Motor Corp.
Maruti, the nation's largest auto maker by sales, introduced the Ritz, its seventh small car model, in May amid intensifying competition from Hyundai and General Motors Corp.
"We are seeing some initial signs of a revival in the auto industry," Amit Kasat, analyst at Mumbai-based Anand Rathi Financial Services Ltd., said by phone.
"With forecasts of a normal monsoon and good GDP growth this year, we should see more demand from semi-urban and rural areas, especially for two-wheelers."
Mr. Kasat, however, said the current growth rate for automakers will taper off in the July-August quarter because of higher sales in the previous year.
Sales of Hyundai's local unit increased 8.4% in May to 43,628 vehicles; of that, local sales fell 4.1% to 23,503 vehicles, while exports rose 22% to 20,125 vehicles.
Arvind Saxena, senior vice president for marketing and sales at Hyundai India, said government incentives in various European countries - including Germany, Italy, France and the U.K. - to revive automobile sales had boosted demand in those markets.
Mahindra sales fell 18% in May to 16,866 units; including 12,620 SUVs, a 3.3% decline from a year earlier.
Sales of the Logan sedan, produced in partnership with Renault SA, plunged to 427 units from 1,531 a year earlier.
In the two-wheeler segment, Hero Honda Motors Ltd., the nation's largest motorcycle maker by sales, posted a 22.5% rise in May sales to 382,678 vehicles.
Hero Honda, the Indian affiliate of Honda Motor Co., produces motorcycles such as the Karizma and Hunk at three factories in Haryana state.
Anil Dua, senior vice president in charge of marketing and sales at Hero Honda, attributed the growth in May sales to the introduction of new products, expansion of the sales network and forays into new markets.
Sales at TVS Motor Co., the third-ranked two-wheeler maker, increased 5.1% in May to 118,574 vehicles, thanks to higher moped sales.
Sunday, May 31, 2009
GM Bankruptcy, What Does it Mean?
General Motor’s decision to file for Chapter 11 bankruptcy has created a lot of uncertainty for both car buyers and owners of GM vehicles.
While it’s too early to know how all of the variables will play out, both the company and the federal government are hoping for a relatively short restructuring period.
Ideally, GM will emerge from this as a leaner, more streamlined automaker—with fewer brands, dealerships, and models—that is better positioned to compete in today’s automotive environment.
In the meantime, the restructuring processes could be fairly transparent for most car buyers and owners.
Exceptions include those who have a local dealership close its doors or discontinue carrying a certain brand. And for car shoppers in general, it could be a great time to buy.
1. Will I be able to get parts and service for my GM car?
GM has said that it will continue to support their authorized dealerships with parts during this restructuring period, so that the dealers can continue to service your vehicle. Of course, common third-party replacement parts are also widely available through auto-parts stores.
Keep in mind that you don't have to take your car to a dealership for servicing, even if it’s under warranty. A good independent shop, especially one that specializes in your car’s brand, should be able to handle routine maintenance and many repairs. Moreover, independent repair shops are often less expensive than dealerships and, according to our Annual Auto Survey, generally provide a higher level of satisfaction. You will need to go to a dealership, however, for warranty and recall work.
2. Will GM still back my warranty?
GM has said that it will continue to support its vehicles’ warranties during this restructuring period.
In addition, the Treasury Department’s Warranty Commitment Program says that the federal government would back warranties for any GM vehicle bought during the restructuring period, should the automaker go out of business. The government would contract with a third-party auto-service provider to provide warranty repairs. Such a program might not run as smoothly as an automaker program, but it wouldn’t kick in unless the automaker is liquidated.
3. Will this affect the resale value of my GM car?
With the uncertainty surrounding GM, it’s likely that its cars will drop in value during this restructuring period, especially for brands that are being phased out or sold. But if the company re-establishes itself as a strong, stable automaker in future months, ongoing models could see a rebound in value.
The resale value for brands that are discontinued is likely to drop dramatically, as happened when GM phased out Oldsmobile in 2004 and Chrysler dropped Plymouth in 2001. This would have the most effect on owners who keep their vehicle for only a few years, say five or less. But if you plan to keep the car for a long time, depreciation is less of a factor.
To help compensate for this drop in value, GM is currently offering a sales-incentive program that gives you extra money if you trade in a current GM car for another. It also covers selling your car privately, but you still need to buy another GM vehicle within a certain period of time. For details, go to www.gm.com/vehicles/currentoffers/.
While it’s too early to know how all of the variables will play out, both the company and the federal government are hoping for a relatively short restructuring period.
Ideally, GM will emerge from this as a leaner, more streamlined automaker—with fewer brands, dealerships, and models—that is better positioned to compete in today’s automotive environment.
In the meantime, the restructuring processes could be fairly transparent for most car buyers and owners.
Exceptions include those who have a local dealership close its doors or discontinue carrying a certain brand. And for car shoppers in general, it could be a great time to buy.
1. Will I be able to get parts and service for my GM car?
GM has said that it will continue to support their authorized dealerships with parts during this restructuring period, so that the dealers can continue to service your vehicle. Of course, common third-party replacement parts are also widely available through auto-parts stores.
Keep in mind that you don't have to take your car to a dealership for servicing, even if it’s under warranty. A good independent shop, especially one that specializes in your car’s brand, should be able to handle routine maintenance and many repairs. Moreover, independent repair shops are often less expensive than dealerships and, according to our Annual Auto Survey, generally provide a higher level of satisfaction. You will need to go to a dealership, however, for warranty and recall work.
2. Will GM still back my warranty?
GM has said that it will continue to support its vehicles’ warranties during this restructuring period.
In addition, the Treasury Department’s Warranty Commitment Program says that the federal government would back warranties for any GM vehicle bought during the restructuring period, should the automaker go out of business. The government would contract with a third-party auto-service provider to provide warranty repairs. Such a program might not run as smoothly as an automaker program, but it wouldn’t kick in unless the automaker is liquidated.
3. Will this affect the resale value of my GM car?
With the uncertainty surrounding GM, it’s likely that its cars will drop in value during this restructuring period, especially for brands that are being phased out or sold. But if the company re-establishes itself as a strong, stable automaker in future months, ongoing models could see a rebound in value.
The resale value for brands that are discontinued is likely to drop dramatically, as happened when GM phased out Oldsmobile in 2004 and Chrysler dropped Plymouth in 2001. This would have the most effect on owners who keep their vehicle for only a few years, say five or less. But if you plan to keep the car for a long time, depreciation is less of a factor.
To help compensate for this drop in value, GM is currently offering a sales-incentive program that gives you extra money if you trade in a current GM car for another. It also covers selling your car privately, but you still need to buy another GM vehicle within a certain period of time. For details, go to www.gm.com/vehicles/currentoffers/.
TuffToys Offers Japan's Nissan, Toyota Used Cars in Australia
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