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Amid slowdown, automakers launch new cars

This is in addition to the slew of launches and upgrades that the industry witnessed in the past which has helped in creating some buzz in the market.

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Amidst its worst-ever slowdown in almost two decades, automobile manufacturers which are banking on upcoming festive seasons to see some semblance in its fortune and are planning to launch at least half a dozen new products within a span of over two weeks. This is in addition to the slew of launches and upgrades that the industry witnessed in the past which has helped in creating some buzz in the market.

The reason behind vehicle manufactures' optimism is that historically festive season forms around 60-70 per cent of the annual sales, though last year it turned out to be a dampener.

According to industry insiders, one of the most anticipated is from the market leader Maruti Suzuki which will open its XL6 – a MPV based on Ertiga for its sales beginning from August 21. The company has already started accepting booking for the six-seater car which will be available through the company's premium Nexa retail chain. However, there will be no diesel variant on offer.

Rival and the country's second-largest car maker Hyundai too has planned to bring an upgrade for its hugely successful Grand i10 car, whose sales have been dwindling in recent times. The variant names as Grand i10 Nios, which will be the forth hatchback in company's portfolio is expected to be launched on August 20.

Likewise, Kia Motors, a subsidiary of South Korea-based Hyundai Motor will also introduce its much-eagerly anticipated Seltos on August 22.

Hot Wheels

 Renault announces India launch of its Triber on August 28
 BMW to launch its next-gen  3 Series, a luxury sedan on Aug 21
 Hyundai plans Grand i10 upgrade 

Luxury car maker BMW is all set to launch its next generation BMW 3 Series, a luxury Sedan on August 21. The company had recently launched its latest X7 SUV and 7 Series Sedan in the country as part of the 12 launches intending to roll out in India during 2019.

Further, Renault has announced the India launch of its Triber on August 28. The company is aiming to position seven-seater Triber at the compact hatchback segment. The car is based on the same platform as that of the highly successful Kwid hatchback, though with some modifications.

Industry is also abuzz that Tata Motors is also ready with the launch of its all black version of Tata Harrier in August, though the dates have not been officially announced yet.

The Indian automotive sales has been experiencing a prolonged slowdown since a year. According to the executives across the OEMs, retailers, component makers, one of the primary reason for the slowdown in the industry has been tightening of liquidity by non-banking financial institutions (NMFCs) following the emergence of Infrastructure Leasing & Financial Services Limited (IL&FS) scam. The other prominent reasons include the rise in fuel prices, rural distress due to lack of rains in certain regions of the country, new insurance laws leading to increase in its costs, slowdown in certain industries leading to dip in consumer sentiments.

India's passenger vehicle industry suffered its worst sales performance in nearly 19 years in July with sales falling by 31 per cent to 200,790 vehicles last month from 290,931 units a year earlier, as per the data released by Society of Indian Automobile Manufacturers (Siam). The industry had seen similar down fall in December 2000, when the sales fell by 35 per cent.

Pavan Shetty, Director of Porsche India during a pre-launch interaction with DNA Money said of its refreshed Macan late last month that he is hoping the festival season sales turns out to be better than last year.

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