The National Insurance Company Limited (NICL) is a Central Government owned insurance company that is based in India. The company has been rated as the best provider for motor and health insurance in India. The Motor Insurance policy from NIC comes with a number of attractive features like protection against theft, damage, or against any damage incurred due to the involvement of your vehicle in an accident. The car insurance policy also covers third party liability. In these cases, any damage or loss caused to property, injury or death of another person, the policy covers any such loss.
There are certain exclusions to the car insurance policy. Some of these exclusions are any loss, wear and tear that occurs due to prolonged usage as well as any mechanical or electrical breakdowns, damage to the tyres of the automobile, any damage or accidents that happen when the driver is under the influence of a substance or alcohol and any cost that is incurred for labour and automobile parts during regular services.
As India’s oldest insurers, National Insurance Company has been providing its customers with tailor-made products that fit the needs of the people. People who want to enjoy a simple, robust, all-inclusive and scalable insurance policy can opt for one that’s provided by the National Insurance Company.
In 21st Century India, owning a car has moved beyond being a status symbol to an everyday necessity. Being a car owner proves your financial independence, puts you in a refined league of your peers and wins you some much-needed brownie points with the family. But, the joys of owning a car could be short-lived if say, your vehicle meets with an unfortunate and untimely accident, is stolen, is lost in a raging flood, or worse - if it turns up to be the cause of an accident that costs the life or property of a complete stranger. These situations can be disastrous, costly and frustrating!
Car insurance is an insurance provided towards loss or damage of a vehicle such as a car, or commercial vehicle. It is a policy purchased by the car owner to mitigate costs incurred due to the accident that caused damages to the vehicle. Instead of paying through their own pocket, car owners pay premiums to an insurance company and the company pays most of the costs associated with the accident. The premium amount payable towards car insurance is decided by factors such as type of vehicle, age of the vehicle, age of the insured, insured declared value, etc. A car insurance covers for liability, property, and medical expenses. Although it is compulsory for vehicle owners to have insurance, some prefer to purchase additional insurance to ensure further protection.
Enter, Car Insurance. This handy insurance policy covers you against the uncertainties that could befall your cherished vehicle and protects you against the probable financial losses. Car Insurance is usually very easy to purchase, to renew, and a number of reputed insurance companies and wealth managers count this as one of the premier products in their arsenal.
In India, the following types of car insurance policies are in vogue. These policies are categorized based on their overall applicability and are targeted at specific conditions that can impact your cherished vehicle. Broadly speaking, motor vehicle insurance are of two types-
Comprehensive Car Insurance : As the name specifies, Comprehensive Insurance accounts for a complete range of negatively impactful things that could happen to your vehicle. This includes robust protection from damage/complete loss of car, injury/death that occurs to self, injury/death endured by fellow passengers and/or contracted driver and protection against third party liabilities. Almost all commonly occurring factors are accounted for, including fire, flood, theft, riots, terrorist activities, accidents, etc.
Third Party Insurance : In essence, Third Party Car Insurance doesn’t provide any coverage for the damage/complete loss endured by your vehicle, or the unfortunate injury/death that befalls the insurance holder. This specialised insurance policy serves as financial protection when your vehicle is involved in/is the originator of an unfortunate accident that results in the destruction of third party property and/or involves injury/death of a third party individual. In such cases, the affected party is likely to push you for damages/compensation and the same will be serviced by the applicable third party liability insurance. Thankfully, Indian laws make it mandatory that every car be insured with a basic third party insurance component.
Want another reason to love the internet? How about the absolute ease and speed of comparing online a whole bunch of viable car insurance options?
The best car insurance policies are out there and the World Wide Web offers you the personal, safe and time bound medium to explore them all.
The internet is awash with third party websites that help you compare between the various car insurance policies available to you, from insurers both big and small.
This definitely beats spending oodles of time, manually comparing between the various options- all the commuting, enquiring and double checking, is history!
Humanity is an evolving species, right? The tested fundamentals of old are being slowly, but surely, replaced by modern day options that piggyback on the limitless possibilities offered by the internet.
Comparing car insurance online between the various supposed ‘best’ car insurance policies is just one of the many advantages offered by the modern era of technology and the digital revolution.
Why not indulge in them and gather the most updated, correct and easily retrievable information out there?
If you are a vehicle owner, car insurance is definitely a very thoughtful (and compulsory) investment. And, if you are looking out for an all-encompassing car insurance
policy, find the one that perfectly matches upto your requirements and limitations, online.
The average car insurance policy covers the loss or damage endured by your vehicle due to the following reasons,
As part of the overall car insurance, most insurers provide personal accident cover in the event of your unfortunate accident while driving. This accident cover can also be extended to passengers, whose number must usually equal the maximum permissible occupancy in the vehicle, as stipulated by the vehicle manufacturer.
The policy also provides for scenarios wherein your vehicle might have been the cause of/ been part of an accident that resulted in the injury, disability or death of an individual (not directly related to you) or caused damages to a third-party property.
Most policies also include provisions to add additional protection for the various secondary components of the vehicle, including electrical/non-electrical accessories, fog lights, stereo system, mats and seat cover etc. Implementation of bi-fuel injection systems, such as for CNG or LPG, can also be covered.
The following add-on covers are optionally available, and offer features that might not be entirely covered in the original, comprehensive car insurance policy. These optional car insurance add-on covers offer additional teeth, to your already loaded vehicle insurance policy.
The Car Insurance Add On Covers mentioned above are just the tip of an iceberg. Insurers, in their own capacity, offer many more add-on covers that add additional value to the existing comprehensive car insurance policy.
“Based on IRDA Annual Report 2015-16 on Business Revenue of Insurers”
If you scan across a multitude of popular media, the ICICI Lombard car insurance review will be found to be very encouraging and superior as compared to its immediate competition. A robust, customer oriented and hassle free insurance plan, the ICICI Lombard Car Insurance is designed for the busy, on-the-move Indian. Packed with such features as immediate online policy issue, on-road assistance at anytime and anywhere, over 3100+ network garages and a series of thoughtful riders including ‘Zero Depreciation Cover’ and ‘Accidental Cover for Co-Passengers’, this policy works hard to qualify as the ideal car insurance option for you. No wonder, the company is an absolute trendsetter when it comes to car insurance.
The car insurance packages from Bajaj Allianz are a very popular option with the everyday Indians who are proud owners of their very own set of wheels. Feature rich, customer centric, transparent with easy documentation, Bajaj Allianz Car Insurance comes with such irresistible features as cashless claims at over 1500 garages across India, competent 24x7 customer service, easy claims assistance and the option to purchase and renew the policy online. The handy Bajaj Allianz car insurance calculator available on our website, helps you pinpoint the exact dynamics of your investment and stay on top of things. The Bajaj Allianz Car Insurance is a solid loan option that has enjoyed immense popularity and support from the point of its inception.
The car insurance package from Reliance, one of India’s iconic conglomerates, is tuned to be highly customer oriented, hassle free and reliable. The list of features and benefits are many, including, limited documentation, cashless facility at 2100+ member garages across India, easy and hassle free claim settlement as well as comprehensive on and off the road insurance that is in line with international standards and configured to take minimum time, minimum efforts and impart maximum feedback and consequently, peace of mind. Reliance Car Insurance has managed to build a staunch following in India, comprising mainly of the busy, always mobile, quality conscious and technology driven Indians.
With such unique features as free car pick up in the event of an emergency, direct and hassle free settlement within 7 days, no claim bonus protection and coverage for non-core accessories like glass and plastic parts, Tata AIG was bound to be a key player in the car insurance segment- and the Tata AIG Car Insurance review from a plethora of satisfied customers amply proves this. The company is a collaboration between two business behemoths, the Tata Group and the American International Group, Inc. (AIG), thereby assuring that professionalism, domain expertise and quality are part of the deal when you purchase car insurance from Tata AIG. If you seek a robust, scalable and reliable insurance option for your cherished set of wheels, then Tata AIG Car Insurance is one of the best in the industry.
The age old adage of ‘with experience comes perfection’ sits well with the Royal Sundaram Insurance Company. Licensed since 2001, the Royal Sundaram Car Insurance is a feature rich package that pales its competition in terms of the sheer customer centric options offered. 1800+ cashless garage network across India, 24x7 claims assistance, unlimited claims for zero-depreciation cover and free roadside assistance in the case of emergency makes the car insurance policy from Royal Sundaram a definite advantage. Enjoy peace of mind, cut loose and stretch your car’s running legs with a policy that is designed to have you covered at all times. Burn some rubber without worrying about a flat tyre, a breakdown or accident, Royal Sundaram’s assistance is with you anywhere and everywhere.
A car insurance policy that’s designed to protect your car, and importantly its passengers and you; Bharti AXA Car Insurance is a clear crowd favourite. Based on a multitude of customer feedback, the car insurance can be pegged as being exceptional, extremely car owner friendly and with a short turnaround time in terms of claim settlements. The essential features of this car insurance policy includes cashless servicing at 2000+ network garages across India, easy 24x7 claim assistance that is backed by a hassle free claims settlement process, and a string of helpful add-on covers. As one of the most popular general insurance companies, Bharti AXA has established its credibility on the back of quality driven processes and adoption of their cherished customers’ concerns as the guiding light that prompts the introduction of newer insurance products. No wonder, when it comes to Bharti AXA car insurance review, there are cheers everywhere!
What happens when an Indian banking giant meets a world-beating general insurance pioneer? You get HDFC ERGO General Insurance and its premier product, the HDFC ERGO Car Insurance an insurance policy that is close to the popular public expectations, this car insurance comes loaded with lots of customer centric features and benefits. The list includes cashless claims service at 1600+ member garages across India, a dedicated and expert customer support team that’s always at your beck and call, easy and hassle free claims process and instant online policy issuance and renewals. HDFC ERGO has established itself as a premier car insurance product amongst the discerning Indian public.
Know More About Top Car Insurance Companies in 2016
In principle, the act of purchasing your car insurance online saves time, effort and the expenditure of money and patience, to varying degrees. Elaborating, the perks of latching onto a online car insurance policy are summarized as follows-
Hassle Free Process- Unlike visiting an actual outlet of the insurer, the online car insurance application process is simpler and quicker. Plus, there are no documents to submit or verifications to affect immediately. Thus, within a very limited, clearly defined steps, you are the proud owner of a comprehensive car insurance policy. All of this, from the comfort of your abode or the workstation at your office!
24x7 Coverage- The inherent speed of policy issue that is a principal characteristic of acquiring a online car insurance plan ensures that you are never without coverage. With the purchase of your car insurance online, get instantaneous policy issue with e-copies of the policy that can be accessed anytime, anywhere and printed out.
Everyone is Doing it- Most of the domestic and international car insurance providers operating in India provide the option to purchase or renew your car insurance online. It’s all about customer comfort, right?
The other benefits of subscribing to the e-route include the freedom afforded to you when choosing from a big list of insurers via their online profiles, and the option to conduct business the electronic way without involving money in its physical form. Bottomline, the manifestation of car insurance online is here to stay!!
A car insurance policy offers comprehensive protection and safeguards against legal hassles & expensive repairs in case of a mishap involving the insured car. Choosing the right car insurance can be quite tasking. Not all the policies available in the market gel well with your expectations. It is important to engage good amount of time and resources in learning about benefits & features of policies available in the marketplace to ensure you get the best car insurance policy.
Some of the key considerations should revolve around the following points.Claim Settlement Ratio
Money plays a pivotal role in choosing the right car insurance policy. At the end of it, we would like to have a policy that has the best features at a nominal price.
A customer friendly insurer understands that efficient customer support is key to customer satisfaction & invests fair amount of resources in building an efficient customer service team.
In addition to the above, smaller facets such as network garages & workshops, cashless benefits, brand value should be explored before buying a car insurance.
Car insurance protects the interests of a car owner and safeguards it against expensive repairs and damages caused to self, the insured car and third party. We must take utmost care while driving by following traffic rules and by navigating safely to our destination. Having said this, there can be an unfortunate accident involving the car resulting in damage and/or casualties. In such situations, the car insurance comes handy, helping you to meet the financial obligations relating to the mishap.
The claims procedure can be complex if you do not understand the dynamics surrounding it. Let us tell you more about how you can make it an easy experience.
In case of a major accident resulting in heavy damage to the car,
If the mishap involving your car resulted in damage or casualty to a third party that requires medical attention, shift the victim to a nearby medical facility immediately and call the insurer. The representatives will instruct you further on the action points.
If the car is stolen,
The modern world is online 24x7, affecting everything from shopping to clearing out EMIs with ease and reliability. Why must you wait in line to subscribe to a good car insurance policy? Banks has woken upto the advantages of offering car insurance renewal online and are ably supported by third party websites that compare the various available insurance policy products. The inherent procedure is as simple as-
In the modern context, purchasing car insurance online has emerged as a popular option amongst busy people, especially working professionals dwelling in the metros and other big Indian cities. Car insurance companies too have woken upto the latent potential of offering motor insurance online, hosting comprehensive web portals that simplify the procedures of gaining information, signing up and renewing car insurance policies through the magic of the World Wide Web. How can you purchase car insurance online? Read on…
The World Wide Web has simplified our lives in a whole range of ways- the option to buy car insurance online being one such uber convenience. Ditch the long lines and the confusion, compare and purchase your motor insurance policy online.
This is a very good question. Why bother with the chicken when you are a Vegan, right? Primarily, the following five reasons should answer your query:
Under the provisions of the Motor Vehicles Act of India, all vehicles that operate in public places must have a car insurance policy as a mandatory document. At the very least, the policy must cover ‘third-party liability’, that is, a cover in scenarios where your vehicle was the cause of an accident that resulted in injury, loss of property and/or death of a third party.
According to recent estimates, every 6th car crash in the world happens in India. This is staggering odds and a likely indication that your car could very well end up on the side of the road one of these days, after a brutal crash that could have resulted in injury, death and of course, massive losses in terms of repairs and replacements for your car. At that instance, the compensation and charges could run into several thousand or lakhs of rupees that may not be immediately available. However, with Car Insurance, there is complete peace of mind - paying a nominal premium today, to be tension-free when an unforeseen accident happens at a later date.
Accidents are stressful on their own without having to deal with the question of ‘What next?’ With your car insurance, comes your insurer’s expertise in handling these tense situations. Walking you through the claims process, helping you find a good garage and settling your claim on time - things that you will be thankful for when dealing with the aftermath of an unfortunate road accident.
Most Car Insurance policies offer coverage for injuries that might be sustained by you and your fellow passengers as a result of your vehicle’s accident. If not, personal injury protection can be purchased as an add-on feature. This acts as a powerful supplement to your health insurance - additionally covering for items that might not be covered by your health policy, including specialist care for accident-related injuries, dental repairs, funeral costs etc.
Just imagine, cruising on an open highway or wriggling through rush hour traffic without overtly worrying about the consequences (mostly financial) of a freak accident or an ‘innocent’ brush-up with an adjoining vehicle. Not having to pay for the mistakes of others. That’s mental peace - in it’s purest form!
In today’s fast paced world, getting things done online is nothing short of a divine boon. Car Insurance renewal online is today’s reality, and quite a popular one at that. Almost all car insurance companies in India provide their customers the option to renew their policies online, through simple net banking transactions, or the safe usage of credit/debit cards.
In the bargain, the customer saves valuable time, saves on the basic impetus of money as well as saves his/her often understated patience. The insurers on the other hand, offer this simple online renewal option and are assured of more inquisitive interest from their target audience, greater number of loyal repeat customers, and sizable savings in terms of setting up and maintaining the offline infrastructure. Online policy renewal is here to stay!
When it comes to finding the best Car Insurance policy that works for your specific requirements, all you can do is ‘compare, compare and compare’. Our expert customer support team is always at hand to help you with your queries, and our uniquely simple website pays loads of respect to your need for functional beauty, user experience and simplicity of operation.
Simply, follow the flow and discover the best Car Insurance in tow. We wish you a lifetime of safe and happy driving…and the comprehensive protection of a robust Car Insurance when bad times strike on the road.
Yes. According to prevalent motor vehicles laws in India, every vehicle plying on Indian roads must be insured.
Yes. Infact, the option to buy car insurance online is often highlighted by most compliant insurers as a surefire means to stay covered 24x7 and never run out of the applicable coverage.
When deciding upon the applicable premium amount, many factors are at play. Different companies charge different rates, based on differing criterias, when it comes to own damage cover. Also, deductibles and the IDV factor play a part when the premium amounts are decided upon. Shop around, and find a policy that best matches your requirements- ideally, avoiding a scenario wherein the premium might be less but the deductibles are high and the coverage and IDV are low.
No Claim Bonus, or NCB in car insurance is the benefit awarded to the insured for not making any claims during the previous policy period. Currently, this bonus ranges from 20% on the Own Damage premium upto a maximum of 50%. Note that this doesn’t apply on liability premium.
Yes. The applicable service tax is in line with the regulations set by the Insurance Regulatory and Development Authority of India (IRDA).
Getting a duplicate copy of your insurance policy is very easy. You could either approach your insurer’s office for the same or, if you have procured the car insurance online, print-out the soft-copy of the policy that was forwarded to you.
The Insured’s Declared Value (IDV) refers to the current market value of your vehicle as fixed by your car insurance company. The IDV comes in handy when claims are raised in cases of theft or total loss of the vehicle. Your insurer arrives at your vehicle’s IDV by pitting the manufacturer’s listed selling price against the commonly adhered to depreciation percentage.
Commonly offered as an Add-On, the Zero Depreciation Cover offers full settlement on your claim without the usual deduction affected for depreciation (or periodic reduction in value of the vehicle/automotive parts due to natural wear and tear caused due to normal usage). Deduction due to depreciation is a common factor with the normal car insurance.
Car insurance premium rates differ from one company to another based on their own internal protocols. The company calculates your premium based on these factors- a) The risk posed by you to the insurer, b) the insurer’s operational costs, c) the estimated money that the insurer is likely to pay as settlement through the year.
The simplest way to calculate your car insurance premiums is with a good Car Insurance Premium Calculator. While most lending banks offer this facility on their websites, competent third party calculators are also readily available.
Third party motor insurance doesn’t cover you and your vehicle. Its major purpose is to protect you against any liability that could arise from your vehicle’s involvement in an accident that led to the loss, damage, injury or death of third party property or individuals. Summing up, the following is covered-
Of course it is necessary to update your change of address at RTO as well as inform your motor insurer. You can get in touch with your insurance provider via their toll free number, email or in person. You can do this online as well. Just go to the official website and enter the details in the required columns.
After informing your current car insurance provider, please submit the documents mentioned below.
Being a safe driver, you certainly deserve a reward. But when it comes to earning it abroad, there are some slight variations to the eligibility. An insurance user can be granted a No Claims Bonus (NCB) on a new car insurance plan taken out in india as per the eligibility earned overseas. But this is applicable only if the scheme is taken out in india within three years of expiration of the international car insurance plan, depending on applicable provisions of NCB as per these rules and regulations..
This is exactly why third party cover is mandatory for all car owners. Car insurance is there to safeguard you when the unforeseen occurs. But when your own actions on the road cause a mishap, this cover becomes even more crucial. And yes, medical expenses are also covered in the third party car insurance, mandatory for all car owners.
Get complete information about the add-ons available to be integrated into your car insurance policy for additional coverage.
Set reminders for your car insurance renewal dates so you never miss your policy's renewal date. The early bird always stands to benefit.
False declarations will come back to haunt you. Your car insurance policy will lapse immediately if any incorrect information is found at any stage of your coverage period.
Some cars come with enhanced built-in security features such as anti-theft alarms, immobilizers and other systems that give potential thieves nightmares. With a low probability of theft, such cars can be insured for less premium. Note that only Automotive Research Association of India (ARAI) approved devices will fetch a 2.5% discount on your premium.
The city where a vehicle is registered determines premiums. Cars in metropolitan cities have to pay higher premiums as the incidence of vehicle thefts and accidents is higher.
Vehicle make and model and potential risk factors associated with it is a factor. For instance, some makes and models fare better in collisions than others so injuries to occupants and damage to the car would be less severe.
The insurance premium amount will always be less if you haven't made any claims before. The no-claim bonus percentage plays a major role in determining your premium amount. So think twice before scurrying to your insurer for a miniscule scratch or dent.
Additional cushions you may consider such as cover for CNG/LPG kits, key replacement costs, road-side assistance etc. will increase your premium amount.
Vehicle owners can now breathe a sigh of relief after the Insurance Regulatory Development Authority of India (IRDAI) moderated the hike in premiums of third party motor insurance bringing it down from 40% to 28%. This revised rate is now applicable to most vehicle categories and will come into effect from the 1st of April. The Third Party Insurance works out to 28% for cars that have an engine capacity of 1,000-1,500cc. Premium rates are revised every year depending on the number of claims that are made every year and after accounting any loss incurred by the insurer. The hike of 28% remains the same for goods vehicles that are in the gross vehicle weight (GVW) category of 7,500 kgs-12,000 kgs, 12,000 kgs-20,000 kgs, and 20,000-40,000 kgs. There is no change made to the premiums paid for vehicles have a GVW that is lesser than 7,500 kgs.
26th April 2017
Maruti is all set to launch the new 2017 Swift Dzire, bookings for which have been opened recently. The new Dzire is expected to features several changes in terms of design details and comfort enhancements. Maruti dealers have started taking advance bookings in exchange for token amounts of Rs5,000 and Rs10,000.
In terms of design, the front of the new Dzire will carry minor changes. The rear has been designed with a bigger boot lid, resembling the one on the first-generation Dzire. Other additions include daytime running lights with projector headlamps, a redesigned bumper, front grille with chrome finish, shark-fin antenna and possibly LED tail lamps. The interiors of the car are expected to feature dual tone beige and black upholstery, a flat-bottom steering and Suzuki's new SmartPlay 7.0-inch infotainment system supporting Android Auto and Apple CarPlay.
Under the hood, the new Dzire continues to feature the same engine as is featured on thee outgoing model, which is a 1.2-litre K-series petrol engine or a 1.3-litre DDiS diesel engine. The new Maruti Dzire will be competing against rivals like the newly launched Tata Tigor and the Hyundai Xcent.
25th April 2017
Ford India recently launched sports editions of the Aspire and the Figo. The hatchback, Figo Sports edition, has the option of petrol and diesel. While the diesel variant comes with a price tag of Rs.7.21 lakhs, the petrol variant is priced at Rs.6.31 lakhs (ex-showroom Delhi). Both the new releases have been enhanced with a number of new features designed to improve performance and comfort. The sedan, Figo Aspire, is also available in petrol and diesel options. The diesel model is priced at Rs.7.6 lakhs and the petrol bears a price tag of Rs.6.5 lakhs. Some of the features of these cars include ABS and EBD, driver and passenger airbags, and 15-inch alloy wheels.
24th April 2017
With changing times, customer preferences are also changing. This fact has been made quite evident with the changing sales figures which have been put forth by two of India’s biggest automakers. Both Maruti Suzuki and Hyundai Motors, known for their affordable, compact vehicles are now gathering higher profits from their premium vehicles, most of which are priced in the range of Rs.6 lakh and above. For Maruti, 26% of its overall sales came from premium products in FY 2017, while Hyundai registered a contribution of 46% to its overall sales, which was attributed to premium vehicles, as compared to a 43% contribution from premium vehicles in the last fiscal year.
21st April 2017
Jeep made a grand entry with the introduction of Wrangler Unlimited and the Grand Cherokee range at an event in Jodhpur, India. However, many potential buyers were disappointed as it was carried an exceptionally heavy price tag of Rs.71.59 lakh, ex-showroom Delhi. Despite the burdensome price tags, the American carmaker has decided to invest around Rs.1,800 crore at the FCA (Fiat Chrysler Automobiles) facility at Ranjangaon, assuring the customers that the Jeep will be locally manufactured. As the aggressive pricing is expected to be a challenge for achieving good sales, the company plans to add over 50 features in the standard option. Those who are planning to bear the heavy price tag can start looking at car insurance options online and choose the best one by making a complete comparison.
21st April 2017
Tata Nano was launched in the midst of much fanfare in the year 2009, but Tata Motors Limited sold only 174 units of the automobile in the month of March. This has led to a dip in sales of 64%. There is a lot of skepticism surrounding the future of the Nano. Company officials remain to stay silent on the topic even as executives of suppliers to Tata Motors have stated that orders for various parts that go into the making of the Nano are erratic. After Cyrus Mistry was removed from the post of chairman after the company amassed losses to the tune of Rs.6,400 crore due to the manufacture and sale of the Nano, the company is uncertain about the future of the Nano. The Nano was a vision and pet project of Ratan Tata and was executed by Mistry, who was given the role of interim chairman after the formers ouster. The future of the Nano looks dull as people will look towards other models as the car does not meet the advanced emission standards, in its current form, that will be implemented in the year 2020.
20th April 2017
The luxury car market of the country will witness a massive growth, with BMW, Audi, Jaguar, and Mercedes Benz, expected to launch a series of vehicles during 2017. The market is likely to expand by 10%, which will be the fastest in three years. The luxury vehicle segment had a retarded growth, especially due to the ban of diesel vehicles in the capital and demonetization. Audi has sold more than 7800 units of car in 2016, which is 30% lower than the 2015 sales figures. Meanwhile, Mercedes had the highest sales from Dec 2016 to March 2017. As the number of wealthy Indians grows at a rapid pace, the luxury cars market — which accounts for less than 1% of the overall sales — is likely to go up in the coming days.
19th April, 2017
Hyundai is all set to launch its new generation sedan Verna in India. The car is expected to be launched by mid-August this year and there have been rumors of Hyundai testing it on Indian roads. Hyundai is trying to regain its market position with the launch of this upgraded version of Verna. Going by the design, the car is expected to be wider with swept-back headlamps and a front-facing projector unit. It also features a sloping roof line and with bigger tail lights. The next generation Verna is likely to compete with Honda City, Maruti Suzuki Ciaz, and Volkswagen Vento.
18th April, 2017
The Lok Sabha has finally passed the Motor Vehicles Act of 2016 which includes a number of amendments. Some of the amendments of the Motor Vehicles Act are Rs.5 lakh compensation to the family of an accident victim within a month in the case of an accident, the contractor will have to pay a penalty if death is caused due to pothole or engineering fault, drunken driving penalty hikes, fine of Rs.100 crore for auto companies rolling out cars with faulty emission, etc.
17th April 2017
Auto manufacturer, Hyundai Motor India, has made key changes to a number of top-level management positions in an attempt to make a stronger impact in the car industry. Rakesh Srivastava, Vice President of Sales and Marketing has been promoted to Director of Sales and Marketing. Vice President of Production, Ganesh Mani S., has been elevated to the position of Senior Vice President of Production. Vikas Jain, Senior General Manager of Sales, has been promoted to Assistant Vice-President of Sales. Y. K. Koo, CEO and MD of Hyundai Motor India, has urged them to strive to achieve Hyundai Motor’s long-term vision of providing innovative products, becoming a leader in the auto industry, and providing a suitable work atmosphere for their employees. With two manufacturing units located near Chennai, India, Hyundai Motor India exports car models across all segments to over 87 different countries.
17th April 2017