After being knocked off the top perch of the “fastest growing economy” podium in 2016, India is expected to return to the Number One spot both this year and next. The world’s second most populous country has seen average per-capita incomes rise to record levels and, while the average only amounts to $1,500 greenbacks, India’s well-to-do class is thriving.
For automakers, the untapped Indian market offers big potential. The latest to the game: Lexus, which arrived today to offer citizens something better than just a Camry. (Read More…)
America’s unhealthy obsession with crossover vehicles has led to Ssangyong Motor Company’s decision to enter the U.S. market by 2020.
The Korean manufacturer has hinted at, and even announced, plans to come to America before with no resulting action. This time, things seem a little more realistic, with Automotive News reporting that the company is designating two small SUVs for the United States — the Tivoli and Korando — and giving itself a slightly longer timeline. (Read More…)
The Jeep brand is Fiat-Chrysler’s biggest money maker, so it’s no wonder that CEO Sergio Marchionne is scattering factories around the world like a sailor’s offspring.
The company’s head honcho outlined his business plan for the brand in an interview published by Automotive News, and it involves no longer having to make a “Sophie’s Choice” decision with Jeep output. (Read More…)
General Motors will invest $5 billion to build a global line of cars with Shanghai-based SAIC Motors that will be sold in Brazil, China and other emerging markets, the automaker announced Tuesday.
The cars won’t be sold in the United States, according to the statement.
The global vehicles will go on sale starting in 2019 and the automaker expects the line to eventually produce roughly 2 million cars annually.
A year ago, TTAC broke news of back channel overtures being made towards Iran on behalf of General Motors. A number of Chevrolet Camaro Convertibles made their way to Iran via a complicated logistics network and the importations were of dubious legality. But the event highlighted a sentiment in the auto industry that few are willing to openly discuss: the BRIC countries, once the darlings of the emerging markets, have already been exhausted. The search for new markets is on, and that means places like Africa and Iran. And Cuba could be next.
The Datsun Go was awarded zero stars in the global NCAP (New Car Assessment Program) for vehicle safety. NCAP says that “The zero-star result highlights the need for India to introduce minimum crash safety regulations.”
Nissan’s emerging-market brand Datsun unveiled its newest addition to its burgeoning lineup at the 2014 Automechanika Moscow show: The mi-DO.
In today’s digest: General Motors issues another ignition-related recall; has fixed a handful of those affected by the original ignition recall; and unveils plans for three new compacts to be sold in emerging markets.
The Russian government said that it will spend up to 271 billion rubles ($8US billion) over the next three years to subsidize the country’s struggling auto industry. A government web site said that the subsidies will underwrite research & development, jobs and costs related to more stringent emissions standards. Car sales in Russia in 2013 fell by 6% to 2.78 million units and 2014 looks like another weak year as the Russian economy stutters, according to the Association of European Businesses. (Read More…)
Bloomberg is reporting that Akio Toyoda, president of Toyota Motor Corp. and scion of its founding family said that a slowdown in emerging markets and uncertainty over demand in both China and the Japanese home market makes 2014 “unpredictable”.
Top Gear and TTAC have been at the forefront of giving you your dose of Dacia developments for some time now, propelled by my strange obsession with this obscure Romanian brand of budget car. Now, Dacia is getting its 15 minutes of North American coverage, with a New York Times feature touting Dacia as “Europe’s Hottest Car”.
Weeks prior to the historic deal reached between Iran and the “P5+1” group of nations, TTAC reported on some of the machinations going on behind the scenes regarded the United States, France and their respective auto industries ability to do business in Iran. We put forth the theory that any deal with Iran would be a boon to auto manufacturers, who would have access to a market expected to be worth 1.5 million units in a few short years, with a very young population and a standard of living that is substantially better than many highly touted emerging markets.
At the time of publication, we encountered significant dismissal, if not disagreement. But as it turned out, negotiations had been ongoing since the start of 2013, and the preliminary deal appears to make the auto industry a big winner.