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Tag: auto sales

  • Tesla Cuts Prices Of Base Variants Of Model 3, Model Y On Its Website

    Tesla Cuts Prices Of Base Variants Of Model 3, Model Y On Its Website

    Tesla Inc has reduced the price of its cheaper variants of the Model 3 sedan and the Model Y sports utility vehicle (SUV), while raising prices for their performance variants, the electric-car maker’s website showed. The price of its Model 3 Standard Range Plus has been lowered to $36,990 from $37,990, while the Model Y Standard Range’s price came down to $39,990 from $41,990, according to the website.

    The carmaker has been making various models in its lineup more affordable at a time when legacy automakers are trying to make inroads in the electric vehicle market.

    The standard range of the Model Y was launched in January, bringing its SUV’s price closer to that of the Model 3 sedan, the electric-car maker’s least expensive car.

    The prices for the Performance variant of the Model 3 rose to $55,990 from $54,990 and Model Y to $60,990 from $59,990, the website showed.

    The price cuts come as Tesla looks to ramp up its deliveries. Overall, the company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles.

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  • Mercedes-Benz India Sees Positive Annual Growth Despite Challenging Situations

    Mercedes-Benz India Sees Positive Annual Growth Despite Challenging Situations

    Auto sales have been on the upswing for the last four months. While we still cannot expect any exponential growth this year, thanks to the coronavirus crisis that dampened sales for three months, automakers are expecting sales to be restored and at least inch to breakeven level for the overall year. Even luxury carmakers like Mercedes-Benz India has observed sales getting back on the growth trajectory gradually and the festive season is expected to give automakers the much-needed shot in the arm.

    Speaking to Siddharth Vinayak Patankar, Editior-In-Chief, on the latest Freewheeling with SVP webisode, Martin Schwenk, Managing Director (MD) and Chief Executive Officer (CEO)- Mercedes-Benz India said, “Overall, I think we’re back as a leader brand. Again, we’re back in a completely normal year but we have sales that are comparable to what previous years have done. Overall, we are in the stable mode now and have a good starting base for next year.”

    Now the German carmaker has also started with the local assembly of its performance AMG range in India and that’s indeed a bold move especially at a time when many plans have been put off owing to the Coronavirus crisis. In fact, the German brand is confident that AMG models do have a burgeoning market by segment standards in India making them more affordable by way of localization will help to tap a potential market. “2019 was 50 percent higher in AMG and obviously this year there is some setback as well, but AMG still is doing better than the normal segment. So performance seems to be a little bit stronger in terms of growth, but honestly, the numbers are absolutely much smaller compared to our regular models,” Schwenk added. Mercedes-AMG has launched the locally built GLC 43 Coupe in India at ₹ 76.70 lakh, ex-showroom, India.

  • Lift non-tariff barriers on car imports, Thailand tells Vietnam

    Lift non-tariff barriers on car imports, Thailand tells Vietnam

    Thailand wants Vietnam to lift non-tariff barriers on its completely built-up car units (CBU).

    Earlier this year, the Vietnamese government had stiffened inspections on all CBUs, which are completely assembled units ready to export.

    The new restriction requires CBUs to pass environmental and emissions tests done by a Vietnamese laboratory.

    However, Vietnam lacks the laboratory facilities to handle a large number of cars, and the move could be a new measure to block car imports.

    Vietnam Register is currently the only car testing facility. The agency will test select a car from a shipment at random. The whole process will take about two months, a long time for a shipment to be passed.

    Somchai Harnhiran, Thailand’s deputy minister of industry, said the country’s automotive industry has lost 80 percent of its car exports to Vietnam. He said both governments will discuss this topic further in the future and hopes “for a good sign from both countries.”

    It is also reported that shipments of cars to Vietnam have been stalling for over six months.

    Thailand’s auto makers have reported that around 4,590 units were exported to Vietnam in the first quarter of this year, while the country’s annual target is 65,000 units.

    Auramon Supthaweethum, director-general of the Trade Negotiation Department, said that the country will continue to revisit this issue at every upcoming meeting with Vietnam and will propose mutual recognition arrangements (MRAs) at the Joint Trade Committee meeting in August.

    She explained that MRAs will allow Thailand to inspect its cars before shipping them to Vietnam.

    Vietnam has yet to agree on the MRAs.

    Among 922 imported cars since the beginning of June, 564 cars were from Thailand, according to General Department of Vietnam Customs.

    Beside Thailand, Vietnam has this year imported cars several other countries including China, Germany, Slovakia, Hungary, Spain.

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  • Vietnam’s May auto sales slip 0.7 percent year-on-year

    Vietnam’s May auto sales slip 0.7 percent year-on-year

    Vietnam’s total vehicle sales edged down 0.7 percent to 23,065 units in May from a year ago, the Vietnam Automobile Manufacturers’ Association (VAMA) said on Monday.

    Sales by VAMA member-manufacturers edged up 2 percent to 22,374 units in May from the year-ago period, including commercial vehicles, passenger cars and special-purpose vehicles.

    Vietnam’s Truong Hai Auto Corp, which assembles sedans, trucks and buses, led the sales in May, followed by Toyota Motor Corp.

    May sales of passenger cars by VAMA members climbed 20 percent month-on-month, while commercial vehicle sales dropped 18 percent and special-purpose vehicles slumped 40 percent, VAMA said in a report.