From January 5th to November 11th, the 10th India New Delhi Auto Show was held in New Delhi, capital of India. As the vane of the Indian automobile market, this auto show attracted 2,100 exhibitors from 31 countries and regions.
From the current auto show, when passenger car manufacturers are targeting small cars, commercial vehicle companies have embarked on high-end and luxury lines.
New high-end products appear at New Delhi Auto Show
In the 10th New Delhi Motor Show, Mahendra Navistar Automotive Co., Ltd. (a commercial vehicle company jointly established by Navistar and Indian local manufacturer Mahendra) exhibited 25 tons, 31 tons, 40 tons, and 49 tons. Grade trucks, with an average price of 56,000 to 109,000 pounds. Among them, 25-ton and 31-ton trucks are expected to be on sale in March 2010. Dee Kapoor, president of Nasdaq Trucks, said: “India is an important strategic market for us. In the coming months, we will introduce a series of products to the Indian market. I believe this will be heavy in India. Changes in the commercial vehicle sector."
The FH520 tractor launched by Volvo India Trucks has become a powerful, high-tech heavy truck in the Indian market. The FH520 is equipped with a Volvo PT2606 automatic transmission and has an engine torque of 2600 Nm. It is a model designed for the transport of heavy goods. At the same time, the Volvo-Eicher commercial vehicle company, a joint venture between Volvo Group and Indian domestic manufacturer Eicher Motors, has also launched the VE series heavy trucks. By 2015, the company will occupy 15% of India's market share.
In terms of passenger cars, the Mercedes-Benz 3-axis passenger bus also made its debut in India. The passenger car uses the Mercedes-Benz imported chassis and is manufactured locally by the Indian partner Sutlej Motors. Wilfried Aulbur, general manager and chief executive officer of Mercedes-Benz India, is optimistic about the market prospects of multi-axis passenger cars. He said: “With the rapid improvement of infrastructure in India, long-distance road passenger transport is promising, and passengers need to be more comfortable and safer. The riding environment. At present, our 2-axis passenger car has been recognized by users, I believe that multi-axis passenger car can meet the needs of the next phase of Indian consumers." It is reported that on September 1, 2008, Daimler Benz launched in India The first luxury passenger car, hopes to seize the number one position in India's luxury passenger car market in the next two years.
But the top spot of luxury coaches in India has so far been occupied by Volvo. At this year's auto show, Volvo India Bus Company opened up another way to launch a CNG passenger car for the Indian market. The model will be produced at a plant in Bangalore, India. At the same time, Volvo India Bus is also preparing to make India an export base. The company is seeking to enter more overseas markets, and plans to increase its share of total sales volume from the current 5% to 7% to 25% to 30% in the next few years. General Manager Akash Pasi said: “The company plans to expand the export market from current Bangladesh and Sri Lanka to Africa, the Middle East, and Southeast Asia. Although Volvo has already achieved sales in these regions, exporting products from India to these markets will Save more costs because India has lower labor costs."
Multinational car companies optimistic about market prospects
Multinational commercial vehicle companies have introduced new products to India, showing their confidence in the future Indian market. Not only that, Indian truck manufacturers Tata and Ashok Leyland predict that with the increase of consumer credit and the acceleration of industrial production activities, the Indian economy will grow by 8% in 2009~2010, and the growth rate in 2010~2011 will be Bigger.
According to data provided by the Indian Manufacturers Association, the proportion of credit purchases in India is about 80%. In 2009, in order to cope with the negative impact of the financial crisis on economic growth, India has stimulated consumption through the reduction of bank deposit reserve ratios and lending rates and other financial means.
Ravi Pisharody, head of Tata Motors' commercial vehicle division, said: “At least in the next 12 months, I think market demand is still strong.†Ashok Leyland, India’s second-largest commercial vehicle company, believes that the 2010–2011 fiscal year The Indian market will see double-digit growth.
Somnath Batacharji, president of Volvo India Trucks, is more optimistic. He believes that in 2010 India's truck market will grow by 20%, and Volvo will also achieve a new leap. Battacarchi said: "In India, Volvo trucks have reached 6,000 vehicles. As of now, Volvo truck sales in India are growing at an annual rate of 20% to 25%, and this trend will continue in 2010. â€
What makes commercial vehicle manufacturers so optimistic about the Indian market? Tishta’s Pisharody believes that India’s role as the third largest economy in Asia will support the market’s demand for commercial vehicles. It is reported that due to the sharp increase in export orders, in January 2010, India’s manufacturing industry achieved the fastest increase in nearly a year and a half. The new orders index rose to 62.9 from 60.1 in December 2009, reaching the highest point since October 2007.
Rising prices to cool the Indian market
The prospects for commercial vehicle market in India in 2010 are excellent, but R. Seshasaier, general manager of Ashok Leyland, still cautions that any premature credit tightening may weaken this momentum. For India, where auto consumption relies mainly on loans, the country’s credit policy will affect the demand of the market.
In fact, the rise in raw material prices first brought cold winds to truck manufacturers. Due to higher production costs, commercial vehicle manufacturers in India, including Tata Motors, Volvo India Trucks, and Ashok Leyland, have already considered or are considering increasing truck prices.
Tata has announced that since January, heavy trucks of 16 tons and above and trucks of 3.5 to 7 tons have risen by 1%. Volvo India Trucks has already raised prices by 3% to 4%. At the same time, the price of Eicher brand trucks produced by its joint venture Volvo-Eicher rose by 2% for the same reason. Ashok Leyland said that the company plans to raise prices for commercial vehicle products by March 2010.
The impact of rising prices on the commercial vehicle market in India, which has just regained momentum, will be affected by the future market performance.
Reporter's notes
Sino-Indian Automobile's "Dragon Elephant Controversy"
Push new products and compete for shares. In 2010, the commercial vehicle market in India will be "staggered." The enthusiasm of multinational commercial vehicle companies for the Indian market reminded me of their joint ventures in the commercial vehicle industry in China in 2009. For multinational commercial vehicle companies, both China and India cannot be less because they also have huge market potential and low cost advantages, but because they are located in the same place in Asia, they are also positioned as the world's automobile manufacturing base. "Car factories" will open up light or dark geographical competition.
Judging from the scale, China's auto industry far exceeds India. In 2006, India produced 1.94 million cars and held 16.87 million cars. That year, China had 7.28 million and 36.97 million vehicles respectively. According to the Indian automotive industry plan, by 2016 it will reach 4 million units of production scale and become the world’s seventh largest automobile manufacturing country. In 2007, China's auto production reached 8.88 million units, and in 2009 it reached 13.65 million units, which surpassed the United States as the world’s largest automobile production and sales country. Even with a 10% increase, in 2016, China’s auto production and sales volume may reach 20 million vehicles.
Although the market capacity is relatively small, India has the most attractive advantage, which is the lower labor cost than China. At the same time, India has no threshold for foreign investment in the automotive industry, and there are many incentives for preferential policies in terms of tariffs, taxes, and finances. This is illustrated by Volvo India Bus's use of India as an export base. As a result, many multinational corporations have issued short-, medium-, and long-term plans to invest in India, radiating India as an "automobile factory."
India's strong alliance with the international automobile industry giants to accelerate the transformation of the automobile industry model and strengthen technological innovation will increase the production and R&D capabilities of the automobile industry. This may directly impact the status of China's global automobile manufacturing base. In the future, there will be more fierce competition between "Chinese Dragon" and "Indian Elephant".
View related topics: Commercial Vehicle Export Analysis
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