German vehicle manufacturer BMW has announced to improve its production capacity at its Chennai plant. BMW India President Peter Kronschnabl has said that Indian auto market is developing remarkably by these years.
For the year 2010, the company is eying to get a double digit growth figure with a minimum sales volume of 4,000 vehicles. Therefore the company is planning to manufacture more from its Chennai plant so that the supply can catch the demand in the market.
Now the BMW Chennai plant has a capacity of 3,000 units per annum. Last year BMW has sold 3,619 units of luxury cars as compared to 3,247 units of its major rival Mercedes.
Kronschnabl has also informed that BMW is having an excellent market share of 41% in the premium segment of cars in India. It was around 9% in 2006. In between these three and half years the firm has performed reasonably good to capture such a commanding market share.
Moreover, he has said that BMW is going to invest more on its plants and working to enhance the capacity and soon there will be an official announcement on this issue.
Renault-Nissan has hinted that it may go in for a partnership with the Indian firm, Ashok Leyland.
Both the companies are already engaged in talks with the management of Ashok Leyland for the purpose of this agreement.
The companies have anticipated that such a partnership will help both the parties to produce and sell an all new passenger car.
Renault-Nissan has targeted to position the product in between its ultra-low-cost car project and the V-platform car, ‘Micra.’
However, both the companies haven’t confirmed the alliance but it is expected that soon they may end up with an-almost-certain partnership deal.
The Chairman of Renault-Nissan, Carlos Ghosn has informed that his company is all set to work with Ashok Leyland to produce some common projects. He has also denied that there will be no tie-ups between Renault-Nissan and Bajaj.
Ghosn made these statements during the launch of Renault-Nissan’s first ever green-field car plant in Chennai.
According to Ghosn, the new project, that both the companies are looking forward to, will be designed for the Indian market as well as some of the emerging markets across the globe.
Finance Minister Pranab Mukherjee has informed that there could be a double-digit inflation this March.
Mukherjee said this while taking part in the discussion on the General Budget for the Financial Year 2010-11 at the Rajya Sabha.
However, he believes that the current rise in food prices will go down very soon. The government is taking all the necessary steps to tackle the food inflation, said the minister.
But at the same time, he has also expressed his concerns over the possible double digit rate of inflation in the current month. Hence, it is going to be a hectic and troublesome financial year end for the Indian consumers.
In the month of February, the country’s annual rate of inflation had risen to 9.89 per cent. This figure was the highest in the last 16 months. In January, this was reported to be 8.56 per cent.
Rise in food price is undoubtedly pushing the rate up. On the contrary, the annual food inflation has also ended with as high as 17.81 per cent for the last week of February.
While India shows good growth rate figures, this inflation could be a major roadblock.
INQ, the social networking handset maker of UK has said that it has tied up with Aircel.
The UK firm has officially arrived in India and is going to start its operations soon.
INQ provides the most popular Facebook phone which has become the latest trend with the “Gen-X”.
Facebook has become the most widely used social networking site all over the world. Users from all age group and segments are using the applications of the site enthusiastically. Moreover, India has become the next target for these social sites as Facebook is becoming more and more popular amongst Indian users along with Orkut and Twitter.
Hence, INQ has decided to enter into this market with its heavily loaded Mini 3G and Chat 3G handsets.
Besides, INQ is also eyeing India’s enormous low-cost handset market. As per the company officials, Indian market is vast and has tremendous potential. After entering to this huge market, INQ may further plan to introduce some of the low-cost phones in the country according to the demands of the consumers.