Year 2009 was significant for the
Indian automotive industry in
more ways than one. Even as the global auto majors went into
reverse gear and had a blowout or found themselves in a jam, the Indian
automotive industry was firmly ensconced in the driver's seat, steering clear of
the mess and crossing quite a few milestones as it drove on steadily
throughout.
The year was, in fact, studded with new milestones: Ashok Leyland
bagged a $10.5 mn order from Honduran army for supply of vehicles and another
to supply 875 low-floor CNG buses to Delhi Transport Corp; Tata
Motors raised $750 mn through global depository receipts and convertible notes;
the bus-making venture of Tata Motors and Brazil's Marcopolo went on
stream at Dharwad, Karnataka; Tata Nano, the world's cheapest car, hit the
road; Maruti Suzuki's Swift notched up 300,000 in sales in record time for
a model (three years and eight months); the company also successfully
exported 100,000 A Star units to Europe and elsewhere, and launched its
premium hatchback Ritz; Ford India announced the launch of its own small car
Figo; General Motors inked an agreement with Reva for developing electric
cars; and Mahindra & Mahindra launched a 0.5-ton four-wheel compact truck at
Rs 1,65,000 and also signed a joint venture agreement with Yueda, China,
for setting up a tractor plant there. |
