Indian Auto Industry to Set New Sales Records this FY

It's 31st March today, and it's going to be a landmark day for the Indian domestic auto industry. Any guesses, why? - As the current financial year comes to an end today, the sales figure is set to hit an all time high of 12.2 million units in 2009-10 that surpasses its previous sales records of 10.1 million units in 2006-07.

This phenomenal growth is thought to be a resultant of four main things:

• - New launches, mainly in the the compact car category
• - Easily available car loan schemes with low interest rates
• - 4% reduction in excise duty as part of the fiscal stimulus
• - Phenomenon of low base-effect

Surge in auto sales during the mid-year festive season also contributed significantly to this two-digit growth performance. In fact, that was the reason why Society of Automobile Manufacturers (SIAM) revised their one-digit fiscal forecast to a two-digit one.

The growth which mainly comes from the passenger car volumes and two wheelers and commercial vehicles, seems to be have given the confidence of SIAM a major boost. The apex industry body representing leading vehicle and vehicular engine manufacturers recently said, the growth momentum is here to stay and will continue further for the next couple of years in the domestic marketplace.

However, experts are of the view that there might be a slump in auto sales as the year proceeds. But for now, it is celebration time for automakers in India.

New 2011 Hyundai Verna to Reach India Soon

Hyundai, the Korean Company, has come up with the changed version of Verna, which has already been launched in Korea and is soon going to hit Indian roads. And the new Verna is to be named as “Verna Transform”.

The Verna Transform features a few styling updates to the exterior, which are supposed to make the car look more ‘sporty and aggressive.’

Hyundai in earlier years was famous for copying designs from other manufacturers but now things seem to have change drastically. Moreover, after the successful launch of the new Sonata in the U.S. markets, the company is trying hard to change the looks of the Verna, as well. It has been revealed that the 2011 Hyundai Verna has taken the cues from its sibling, Sonata, and looks like a mini-version of its elder sibling. The new Hyundai Verna Transform could go on sales in India by mid-2011.

Skoda has No Plans to Upgrade Octavia to Bharat IV Emissions

Skoda India has finally taken the decision to not to upgrade the old Octavia to meet the new Bharat IV emission norms, which go into effect early next month.

The 1.9 TDi Pumpe Duse engine oil, one which is currently installed in the car, will need huge modification to meet these standards and this is why the company has refused to make the car Bharat IV compliant. So, Skoda Octavia will only be available in Bharat III cities.

BMWX1 Worth Rs.25 lakhs to be Launched in India by Dec 2010

The BMW X1 is a small crossover as per normal SUV standards. It is expected that BMW is going to launch this little edition, BMWX1, by Dec 2010. In India BMW X1 crossover would be launched in both diesel and petrol versions. And the X1 is likely to cost you around Rs 25 lakhs, according to market speculation. BMW has once again made its intentions to play a price game for X1 as well. The similar kind of price gaming was evidenced by the recent launch of BMW 5 series also.

With loads of features in built, BMWX1 is said to be “a ultimate driving machine”, some of the classic features of the car are:

• - The BMW X1 takes its styling examples from its bigger versions and offers a compact, sporty package to its customers.
• - Also you get all the driver-centric design features and of course, with the quality of a BMW.
• - The compact size of BMWX1 doesn't mean that the car is designed impractically, the rear row offers adequate seating for three adults.
• - The latest BMW iDrive controller would be available in the X1.

Moreover, the company has not yet revealed the exact specifications of the engines. With this Peter Kronschnabl also announced the forthcoming launch of the BMW 5-series in India as CKD. The car would be powered by a 2000 cc diesel engine and will cost around 25 lakhs. The launch of this edition is expected in July 2010.