Tata Motors, which is India’s largest automaker and owns Jaguar Land Rover, is also hoping to claw back domestic market share.
VW and Tata have signed a memorandum of understanding on a partnership they hope will potentially lead to Tata Motors launching new vehicles by 2019.
Tata Motors CEO Guenter Butschek has put in place a restructuring program to help build up the company’s lost sales for passenger and commercial vehicles by improving efficiencies, cutting production delays and building economies of scale.
Guenter Butschek said: “We strongly believe that both the companies, by working together, can leverage from each other’s strengths to create synergies and develop smart innovative solutions for the Indian and overseas market.”
VW is investing in self-drive vehicles and greener technology such as electric cars and would like greater familiarity with the Indian market.
Volkswagen AG CEO Matthias Müller said: “By offering the appropriate products, we intend to achieve sustainable and profitable growth in very different parts of the world.”
A previous attempt by VW to expand into emerging markets through an alliance with Suzuki Motor Corp ended in 2015, following bitter disagreements.
Automakers are attempting to win a greater share of expanding emerging markets through the sale of budget cars, which in turn increase familiarity of their brand.
Britain’s used car market is more than four times larger than the new car market – almost 9 million people every year purchase a second-hand car. What Car? with the assistance of other used car industry experts, has picked the best used cars for sale in 2013.Vauxhall received several individual car awards and the brand also won the title of Best Used Car Manufacturer of the Year, thanks to its long-running Network Q used car scheme. Steve Huntingford, What Car?’s road test editor and head judge, said:
“Although Network Q is one of the oldest approved used schemes, there are more than 350 outlets and it has a good online offering, a great choice of stock, all cars come with a comprehensive Network Q check, and an unbeatable insurance package. Network Q makes buying a used car very easy.”
Volkswagen Golf 1.4 TSI SE 5dr was named Used Car of the Year 2013. You can find this car at a dealer price of approx £8,700 and a private price of around £8,300. What Car? praised the Golf’s impressive cabin quality and refinement, comfort, running costs and impressive safety credentials. The Golf’s win corresponds with data taken from the AA’s website, which shows that twice as many people viewed a Volkswagen Golf than any other used car in the last 12 months and one in 26 views of cars on their website were of a Golf model.
“The Golf is the true ‘car of the people’ as it is practical, economical, sporty, safe, desirable, reliable and fun. Twice as many people viewed VW Golfs on AA Cars in the last year than any other car.”, Edmund King, AA president for The Telegraph
“What clearly sets the Golf apart from other small family cars is its cabin.”
Other awards won were:
Best used small car 2013: Vauxhall Corsa 1.2 Design AC 5dr
Dealer price/private price: £4,100/£3,600
Best used family car 2013: Volkswagen Golf 1.4 TSI SE 5dr
Dealer price/private price: £8,700/£8,300
Best used estate car 2013: Mazda 6 Estate 2.2D 163 TS2
Dealer price/private price: £11,400/£10,700
Best used MPV 2013: Ford S-Max 2.0 TDCi Zetec
Dealer price/private price: £10,900/£10,000
Best used SUV 2013: Nissan Qashqai 1.5 dCi Acenta
Dealer price/private price: £7,800/£7,200
Best used executive and luxury car 2013: BMW 320d SE
Dealer price/private price: £9,000/£8,600
Best used fun car 2013: Renaultsport Clio 200 Cup
Dealer price/private price: £7,500/£7,200
Best nearly new car 2013: Vauxhall Astra 1.6 Exclusiv
Dealer price/private price: £9,100/£8,700
A History of Car Manufacturers
Car manufacturers jumped into car production in the late 1800’s with the pioneers of the industry being Benz, Peugeot and Daimler followed by Fiat, Opel and Renault. MoneySuperMarket created a a visually appealing and easy to follow info graphic called A History of Car Manufacturers that shows the way the car manufacturing industry evolved and changed over time. It’s interesting to know how the auto industry got from one manufacturer in 1886 to 42 parents and 90 brands over a period of 125 years. Be sure to let us know if you’re one of the 99% of Britons that saved on the cost of their car insurance when they used MoneySuperMarket.
Car maker PSA Peugeot Citroen is writing down the value of its assets by 4.1 billion euros ($5.5 billion) to reflect the worsening state of the car market.
Peugeot said new accounting guidelines had prompted the move and that it was reversible when conditions improve.
The statement comes ahead of next week’s earnings and indicates it will report heavy losses for the period.
Global sales at France’s largest car firm fell 16% in 2012 to less than three million.
Peugeot is in the process of cutting 8,000 jobs and closing a factory to stem losses.
PSA Peugeot Citroen is writing down the value of its assets by 4.1 billion euros to reflect the worsening state of the car market
Chief financial officer Jean-Baptise de Chatillon said: “There was a realization in the second half that the crisis was going to be longer than expected… This is purely an accounting adjustment which has nothing to do with operations.”
France’s market regulator last year demanded that companies value their assets more realistically – prompting a 7.4 billion-euro charge from Credit Agricole.
A report in the French newspaper Liberation said the government was examining the possibility of buying a stake in the struggling company as a “last-resort plan”.
Peugeot, a founding member of the main French stock market index, the Cac-40, was demoted last year as a result of its tumbling share price.
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