Chinese Truck Makers Enter Indian Market
www.chinatrucks.com : The weak industry foundation and the inadequate human resources are the two factors restraining the Indian auto industry from developing. Many foreign truck makers flocked into the country and pushed local competitors out of business. Comparatively, Chinese truck makers are well positioned in the competition.
In the overseas strategy of Foton, India and Russia are key markets. That’s why Foton started its operation in India 5years ago. So far, the company has carried out three times of capital increase totalling ¥ 2 billion. The company is now ready to manufacture the whole series of products including heavy duty truck, light duty truck and other commercial vehicles.
Chinese vehicle makers have been reluctant to enter the Indian market, and little progress has been made. The reason lies in the numerous market obstacles.
The first obstacle would the heavy consuming tax fallen upon car purchasing. The tax rate stands between 20%-24%, and has been further increased to 30% in 2013.
Secondly, the technological level of Indian auto industry is unqualified, the same does human resources. Many car parts could not be produced locally in India. And the working efficiency of Indian workers is lower than their counterparts in other countries.
But the disadvantages of India could be a good news for foreign vehicle makers. Only 3 companies in India are producing trucks, who are too weak to compete with truck makers from other countries, leaving huge business opportunities.
Views:0
- ZOOMLION’s 38m Truck Mounted Pump for India Rolls off Assembly Line 2020-08-12
- Sany Group Donates 1 Million Masks to India, Other South Asian Countries 2020-05-19
- Weichai WP7NG Engine Successfully Passed India National VI Emission Standard 2020-03-04
- Daimler Rolls Out 100,000th Vehicle from TN Factory 2018-09-07
- India’s First Lithium-ion Battery Project Set to Get Underway 2018-07-04
- India Commercial Vehicle OEMs See Robust Growth in February 2018-03-02
- Daimler India Starts Production of Mini Truck for Exports 2018-02-28
- Daimler India Posted 28% growth in 2017 with 16717 units 2018-02-06
- Daimler AG Ready To Bring Electric Trucks In India 2017-09-26
- Cummins to Invest Rs 1,500 Crore in India R&D 2017-08-10
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021