The Indian auto sector witnesses record car sales mark for 2010
The year 2010 is indeed a special year for automakers in India. Many important events marked the Indian auto market. Maruti 800 took a bow from big cities, Hero split with Honda and Nano failed to impress. For an economy that grows at 9 percent, it was not astonishing that the car sales broke all records in the July –October season, where there was an st
andard growth of 30 per cent. India became the hot spot for the launch of Bugatti Veyron 16.4 Grand Sport. At Rs 16 crores, the auto became the costliest car in India. The niche cars like marques Aston Martin and Spyker Cars are believed to drive in soon. The year 2010 will also be remembered for the end of the 26 year association of Hero Honda.
The slip was suggestive of the break-up of a Renault – Mahindra & Mahindra joint venture. This year also marked the phasing out of the first people`s car- Maruti 800. It has already bid adieu to 13 major cities in the wake of strict Bharat Stage IV emission norms. Hindustan Motors have approached the Board for monetary and Industrial reconstruction due to the mounting losses. Tata Nano- the much talked about car did not have an easy ride on the Indian roads. Marked by dwindling sales, the Nano still needs to confirm its mettle in the Indian market. India was touted as the principal center for global players and the homegrown Mahindra & Mahindra stepped in with its international expansion plans. However there have been no flurries of new launches as Renault and Ford also join the bandwagon to cash in on the sales boom. However, the new models that hit the roads include Maruti Suzuki Eeco, Ford Figo, Volkswagen Polo and Vento and Nissan Micra. The Indian auto mart is slowly but steadily inching towards the two million units per year mark.