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Budget2016 Auto - read breaking and trending Budget2016 news, stories, headlines. Business insider India is providing latest, handpicked stories related to the Auto category.

Budget2016 Auto - read latest and trending Budget2016 news and headlines

Volkswagen reveals Polo Legend Edition in India — Price, specifications and features

(Photo Source: globalncap.org) <ul><li>An India-made car Tata Nexon has secured a five-star rating in Global NCAP’s crash test scores, receiving five stars for ‘adult occupant protection.’ </li><li>Mahindra Marrazzo scored a three-star in the crash test results. </li><li>The ratings have been marked on the basis of safety equipment and protection offered by the company. </li><li>Earlier, in January, 2014, Global NCAP reportedly tested five Indian cars — Tata Nano, Maruti Alto 800, Hyundai i10, Ford Figo and Volkswagen Polo, but the cars maked a zero in the test results.</li></ul>Tata Nexon has become the first car made in India to fetch a five-star crash test rating from Global NCAP, under its ‘SaferCarsForIndia’ crash test results released on Friday. Ever since 2014, <a href="http://www.globalncap.org/global-ncaps-first-five-star-car-india-tata-nexon/">Global New Car Assessment Program (NCAP)</a>—a network of Global crash test programmes—has been conducting crash tests on Indian cars. Earlier, Global NCAP announced four-star crash test ratings for Nexon. With the upgradations in the safety measures introduced by the company—including making a Seat Belt Reminder (SBR) for driver and passenger a standard for all variants of the model — the homegrown car has now been updated with a five-star. According to the update, Nexon scored five stars for Adult Occupant Protection, while, for Child Occupant Protection, the car was rated at three stars. The ratings have been marked on the basis of safety equipments and protection offered by the company. Following Tata’s Nexon is Mahindra Marazzo achieving a four-star rating on the list. Mahindra Marrazzo offering features such as double airbags, ABS, SBR for driver and ISOFIX anchorages achieved two-stars for Child Occupant Protection. The latest results mark the safety of cars in India. The domestically manufactured cars showcase the capacity of Indian car market to achieve remarkable results in terms of safety, design and performance, said David Ward, secretary general, Global NCAP. “The model offers good protection for both adult head and neck, marginal protection for the driver chest and adequate protection for passenger chest,” stated Global NCAP. “The pedals showed some risk for the lower legs due to their displacement. The 18 month old child dummy received good protection while the 3 year old child passenger showed high readings in chest and head exposure,” it added. Earlier in January 2014, Global NCAP <a href="https://www.businesstoday.in/sectors/auto/tata-nexon-becomes-first-indian-car-to-get-5-star-safety-rating/story/298324.html">reportedly</a> tested five Indian cars — Tata Nano, Maruti Alto 800, Hyundai i10, Ford Figo and Volkswagen Polo. But, the domestically manufactured cars failed to secure a rating and marked a zero in the test. See also: <a href="https://www.businessinsider.in/indian-online-car-rental-company-revv-says-it-will-now-let-users-keep-a-car-for-up-to-4-years-for-a-monthly-subscription-fee/articleshow/66827211.cms">Indian online car rental company, Revv, says it will now let users keep a car for up to 4 years for a monthly subscription fee</a> <a href="https://www.businessinsider.in/indias-competition-regulator-finds-uber-ola-not-guilty-of-charging-higher-prices/articleshow/66542764.cms">India's competition regulator finds Uber, Ola ‘not guilty’ of charging higher prices</a>

Tata Nexon becomes the first Indian car to score a 5-star rating in global crash test standards

Japanese auto major Toyota on Wednesday launched the new Corolla Altis in the country priced between Rs 15.87 lakh and Rs 19.91 lakh (ex¬showroom, New Delhi). The new Corolla Altis is available in both diesel and petrol engine options. While the petrol variants are priced between Rs 15.87 lakh and Rs 19.91 lakh, the diesel versions are tagged between Rs 17.36 lakh and Rs 19.05 lakh. N. Raja, Director &amp; Sr. Vice President, Toyota Kirloskar Motor said, "Over the years the Corolla Altis has emerged as one of our strongest products in the country enabling us to strengthen our position in the premium C sedan segment with an average of over 40% segment share. We are confident that the new Corolla Altis will be successful in maintaining its unshakeable presence in the segment and also reiterate Toyota’s safety leadership positioning in India."

Toyota launches new Corolla Altis at Rs 15.87 lakh

What is the industry sentiment for Budget 2016? 
<a href="http://www.businessinsider.in/searchresult.cms?query=Passenger+vehicles">Passenger vehicles</a> have shown a positive trajectory with volume growth of 8.5% for the calendar year 2015. This growth was generated on improving fundamentals of <a href="http://www.businessinsider.in/searchresult.cms?query=GDP+growth">GDP growth</a>, reduction of interest rates and controlled fuel prices. The improved customer sentiments propel customer purchase for new vehicles. Challenges were that <a href="http://www.businessinsider.in/searchresult.cms?query=rural+India">rural India</a> saw drop in demand with average monsoons and drop in purchasing power. 
​ 
Industry sentiment is of cautious optimism with many product launches planned for the year as showcased in <a href="http://www.businessinsider.in/searchresult.cms?query=Auto+Expo+2016">Auto Expo 2016</a>. Hyundai has led the market with double the industry growth at 15.75% and we are optimistic of our leadership position with sustained growth in volume targets 500,000 by launching two new products this year including a new <a href="http://www.businessinsider.in/searchresult.cms?query=Compact+SUV">Compact SUV</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Hyundai+Tucson">Hyundai Tucson</a> and maximizing the Modern Premium expression for customers along with the three Indian Car of the Year brands- <a href="http://www.businessinsider.in/searchresult.cms?query=Creta">Creta</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=Elite+i20">Elite i20</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Grand+i10">Grand i10</a>. 
 
Expectations from Union Budget 2016? 
· We expect the government will initiate policy measures to further investments which will create employment and sustain the positive <a href="http://www.businessinsider.in/searchresult.cms?query=GDP+growth">GDP growth</a> above 7%. 
· Relaxation on indirect taxes to drive in increased conversions through result in a higher <a href="http://www.businessinsider.in/searchresult.cms?query=disposable+income">disposable income</a> amongst consumers. 
· We expect the government to consider <a href="http://www.businessinsider.in/searchresult.cms?query=Vehicle+Scrappage+Policy">Vehicle Scrappage Policy</a> for older vehicles which are low on fuel efficiency and high on emissions. 
· A uniform <a href="http://www.businessinsider.in/searchresult.cms?query=GST+policy">GST policy</a> will provide a <a href="http://www.businessinsider.in/searchresult.cms?query=uniform+tax+regime">uniform tax regime</a> and boost the business environment. 
 
(This article has been authored by <a href="http://www.businessinsider.in/searchresult.cms?query=Rakesh+Srivastava">Rakesh Srivastava</a>, Sr. Vice President (Sales &amp; Marketing ) at <a href="http://www.businessinsider.in/searchresult.cms?query=Hyundai+Motor+India">Hyundai Motor India</a> Ltd)

Here's Hyundai's take on what the Govt can do for the Auto Sector

With the rising levels of air pollution in the country, the electric vehicle segment is hoping that the Modi government will finally take steps to bolster the growth of this otherwise dormant auto segment in the upcoming Budget 2016. 
 
“Pure Electric Vehicles need to be nurtured in a different way than Hybrid vehicles. At present the manufacturing base of the electric components and the batteries for the electric vehicles is almost non existent, neither do we have the public charging infrastructure to support such electric vehicles. Amongst other things, the following need to be done to trigger a growth in pure electric vehicles, particularly the electric two wheelers and small cars,” says Sohinder Gill, director, Corporate Affairs, Society of Manufacturers of Electric Vehicles (SMEV). 
 
He adds, “In the previous union budget 2015-16, FAME India (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) policy was unveiled by the Central government. It has been a good step to create a fine eco-system for faster adoption of green vehicles in the country. In NEMMP, the largest potential of reduction in the pollution and the crude oil consumption was anticipated out of electric two wheelers and small cars, however their sale has not picked up.” 
 
Thus, looking at the current scenario and the possible return of the odd-even scheme in the city, BI India lists down their expectations from the Union Budget 2016. 
 
1. Govt should provide infrastructure support for setting up charging stations in at least top 50 cities where there is a significant population of EVs. Unless, a city is well populated with charging stations, people will be reluctant to migrate to electric vehicles. 
 
2. The industry also needs financial and technology support in the area of technology development and “make in India" specially related to next generation electronic, electric and battery technology. 
 
3. Another issue is related to availability of finances. Banks have been reluctant to provide loans for the purchase of electric two wheelers. The centre needs to direct public banks to offer loans at a zero-interest rate. 
 
4. Make a rule that only electric bikes would be permitted to be used as 2W taxi or for food/ E-com deliveries. Allow 100% depreciation on the battery swapping and charging stations put up by the e taxi/ e commerce companies and subsidy on 2nd lithium battery for such usage 
 
5. The Centre needs to maintain 6% Import duty on CKD and local components for next three years at least or better, till the time the domestic manufacturing eco-system is fully developed. 
 
6. Government and public sector offices should convert part of their fleet to electric and should heavily incentivise employees to convert to electric vehicles. 
 
7. We are positive that if these measures are taken, we will have a vibrant eco-system for electric vehicles in the country and we all know that green mobility is the need of hour.” 
 
Well, here’s hoping Modi government does announce reforms to boost the growth of electric vehicles in the country.

Can the Modi Govt boost this auto segment in Budget 2016?

Indian Railways, which is facing a decline in loadings demand, is considering several options including entering into untapped areas so that revenue coming from its freight can be increased. 
 
"The need of the hour is to enter new areas to expand the freight operation in a significant way," said a senior Railway Ministry official, adding, "The aim is to enter into untapped areas." 
 
Some of the proposals under consideration include tapping automobile and FMCG sectors in a big way; and these proposals are most likely to appear in the upcoming Rail Budget 2016-17. 
 
As of now, railways carry commodities like coal, iron ore, steel, cement, minerals, fertilisers and food grains. 
 
However, when it comes to steel, cement and coal, using railways is never a popular choice because of several reasons. 
 
"So we have to look for new areas potential sectors like tapping the automobile and FMCG sectors in a big way. In fact we have listed about 46 commodities where we can explore doing business," he said. 
 
He added that road railers, which are capable of movement on road and rail, are being considered for door-to-door transportation. 
The trial run for the road railers has been done, and the service will soon be introduced on the Delhi-Chennai route. 
 
Before Rail Budget, the ministry has undertaken a series of talks with stakeholders, seeking their suggestions to arrest the declining freight operation.

	 
	<a href="http://i2.tinypic.com/rbier8.jpg">Image source</a>

Rail Budget 2016: Railways ministry looks forward to tapping auto and FMCG sectors for revenue

The <a href="http://www.businessinsider.in/searchresult.cms?query=Society+of+Indian+Automobile+Manufacturers">Society of Indian Automobile Manufacturers</a> (SIAM) wants lower <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> on large cars and <a href="http://www.businessinsider.in/searchresult.cms?query=SUV">SUV</a>s. It wants the government to lower the rates from the current 30% to 20% in <a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2016">Budget 2016</a>.This demand for <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> cut is among the top proposals <a href="http://www.businessinsider.in/searchresult.cms?query=Society+of+Indian+Automobile+Manufacturers">SIAM</a> has put forth. 
 
Explaining why they’re asking for these measures <a href="http://www.businessinsider.in/searchresult.cms?query=Society+of+Indian+Automobile+Manufacturers">SIAM</a> Director General Vishnu Mathur told PTI, "From 12.5 to 30 per cent, the differential in <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> has grown over the years. We are asking for two rates - one for small cars and one for large vehicles." 
 
As of now, sub four meters <a href="http://www.businessinsider.in/searchresult.cms?query=passenger+cars">passenger cars</a> have <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> of 12.5%. Cars over four meters but with engine less than 1,500 cc capacity attract 24% duty. 1,500 cc cars are charged excise duty of 27% and those with ground clearance of more than 170 mm attract an excise duty of 30%. 
 
It has also asked the Modi government to offer an incentive for scrapping old vehicles. Their scrapping incentive is aimed to help reduce air pollution. 
 
"We want this vehicle scrapping scheme to be incentive based and not a mandatory one. Even if 15-20 per cent old vehicles go off the road, it will make a huge difference. Besides, the scheme would be revenue positive for the government," Mr Mathur said. 
 
The government will present <a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2016">Budget 2016</a> on February 29th. 
 
Image credit: Indiatimes

SIAM wants Excise Duty on Large Cars
and SUVs slashed

<a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2016">Budget 2016</a> is just round the corner. Going by the stats, India has the potential to become a <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing">manufacturing</a> hub for international companies. That will help not only in increasing employment, but will also pump significant capital into the economy. 
 
A strong upward curve in the sales of <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">commercial vehicles</a> and consistent growth in the <a href="http://www.businessinsider.in/searchresult.cms?query=Passenger+Car">passenger car</a> volumes has boosted India’s auto sector. Here are a diagnostics report of each segment in the <a href="http://www.businessinsider.in/searchresult.cms?query=auto+sector">auto sector</a>, and what the government must do: 
 
Passenger Vehicles: 
Report: <a href="http://www.businessinsider.in/searchresult.cms?query=Passenger+Car">Passenger Car</a> volumes have shot up for over a year straight – 14 months to be exact. The segment saw a cumulative growth of 9%. However, this effect is limited to the two segment leaders- <a href="http://www.businessinsider.in/searchresult.cms?query=Hyundai">Hyundai</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Maruti">Maruti</a>. 
 
To Do: Industry needs steps to boost infrastructure. 
 
Two Wheelers: 
Report: The <a href="http://www.businessinsider.in/searchresult.cms?query=two-wheeler">two-wheeler</a> market has seen a slowdown. It’s fell 2.5% in the April-December period. 
 
To Do: If the government pours something into the rural sector, numbers will shoot up again. 
 
Commercial Vehicles: 
Report: <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">Commercial vehicle</a> volumes jumped 8.5% in the April-December period. They’ve been doing well. Medium and heavy <a href="http://www.businessinsider.in/searchresult.cms?query=commercial+vehicles">commercial vehicles</a> can repeat the 30% volume hike, just like in 2015, but with the appropriate measures. 
 
To Do: Invest more in infrastructure, just like in <a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2015">Budget 2015</a>.

Budget 2016 – Here’s what India’s
Auto Sector wants

If reports are to be believed, the government might raise the <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> on petrol and diesel before the budget. This could be done to raise revenue and stick to the fiscal deficit target it had set for 2015-16. 
 
"Falling crude oil price provide us a headroom for increasing <a href="http://www.businessinsider.in/searchresult.cms?query=excise+duty">excise duty</a> on petrol and diesel. It will help in meeting <a href="http://www.businessinsider.in/searchresult.cms?query=fiscal+deficit">fiscal deficit</a> target of 3.9% for the current fiscal," an official source told ET. 
 
"The <a href="http://www.businessinsider.in/searchresult.cms?query=fiscal+deficit">fiscal deficit</a> target is sacrosanct and every effort would be made to meet the target," he quoted. 
 
In the current fiscal year, the government has already raised the excise duty on petrol and diesel four times. 
 
Even Last week, the government had hiked the excise duty on petrol by Rs 0.75 per litre and on diesel by Rs 2 a litre, which was the second increase in duties in less than two weeks. 
 
This has happened despite oil prices having fallen to 12-year low to USD 29 per barrel because of weak Chinese economy and a global slowdown and lifting of Iran sanctions. 
 
According to the official data, fiscal deficit position has shown a remarkable improvement at the end of November 2015. 
 
Image credit: Indiatimes

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