With no tax on diesel vehicles, auto makers mull expansion
As the Budget has spared diesel vehicles from the much feared additional tax, auto firms such as M&M, Hyundai and Maruti Suzuki are expected to press ahead with plans to expand engine capacities in this segment.
"There has been no mention of an additional tax on diesel vehicles or on the existing differential pricing of diesel in the Budget...I would therefore assume that diesel vehicles will not be treated any differently," Mahindra & Mahindra President (Automotive and Farm Equipment Sectors) Pawan Goenka told media."
As far as M&M is concerned, whatever we have held back on increasing production capacity of diesel vehicles, we will be going ahead now," Goenka said.
Ford lays foundation for $1-b unit at Sanand
22 March, 2012
Source: Hindu Business Line
Ford India on Thursday said it will commence production of four-wheelers at the new facility in 2014 for manufacturing engines and vehicles at Sanand. The unit is being set up with an investment of $1 billion (nearly Rs 5,000 crore). The company is setting up the new plant in 460 acres.
It will have an initial installed capacity to manufacture 2.70 lakh engines and 2.40 lakh vehicles a year, said Mr Michael Boneham, President and Managing Director, Ford India.
Senior Executive from Gujarat Confirmed for India Automotive Summit
Noppen is pleased to confirm that Mr. KT Vyas, Assistant General Manager, Industrial Extension Bureau, Government of Gujarat will be participate and speak at the India Automotive Summit to be held in Pune from 26th – 27th July 2012, India. He will make a keynote speech titled “Gujarat : The Preferred Destination for Investors.