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NEW DELHI: The growth forecast for light vehicle production (sub six-tonne vehicles) in India has been revised downwards to 5-5.5% for 2017, from the earlier 7-8%, by IHS Markit, a global consulting firm that specialises in automobile and aerospace sectors. This is in the wake of the government’s decision to demonetise high-value currency notes which has made cash extremely scarce, and which in turn has affected consumer sentiment. “Consumer sentiment is weak and is expected to remain so in the first quarter of 2017. This is likely to impact production volumes to the tune of 100,000-120,000 units. We have revised downwards production growth numbers by 2-3%,” said Mark Fulthorpe, director (global light vehicle production forecast), IHS Markit Automotive, Light vehicles include all passenger vehicles as well as small commercial vehicles. He said sales should follow similar trends, with exports on the upside. As per data available with IHS Markit, light vehicle … [Read more...] about Auto companies may go slow on light vehicle production: IHS Markit

They got together to work on a plan to build an electric car for their final-year project. But during discussions someone spoke about converting a conventional autorickshaw into an electric vehicle. It clicked. There are six lakh or more autorickshaws in Kerala. Most of them are older than 15 years and are big environment polluters. However, if they are disposed of, the waste they could generate could be enormous. Besides, disposing of an old auto or buying a new one will have a huge financial burden on people's lives. Of late, the government has started encouraging a shift from conventional fuels to electric vehicles. However, a new electric auto would cost a bomb. So why not change the heart of the old auto, thought the students and decided to go ahead with their plan. Through the project they aim to reduce emissions, generate more employment, avoid environment problems caused by discarded vehicles and their parts, and offer a cheaper alternative to buying a costlier electric auto. … [Read more...] about These polytechnic students converted an old auto into electric

Video PlayerClose DETROIT, Dec. 7 (Xinhua) -- U.S. experts on Friday gathered at an event in Plymouth, in the state of Michigan, to discuss the difficulties and strategies in implementing Industry 4.0 among U.S. automakers and suppliers. Industry 4.0, or the Fourth Industrial Revolution, centers on the use of technology to improve manufacturing processes, which allows a company to be more efficient, and save time and money. A perception that nothing is wrong with their manufacturing processes is among problems needed to be solved in promoting Industry 4.0, said U.S. experts on the sidelines of the event titled "Lean Manufacturing in the Era of Digital Transformation and IoT." "They don't see the benefits," said Ronny Chiang, president and co-founder of BEET Analytics, a technology start-up in Plymouth. He said that his success first came with small-scale demonstrations that did not cost automakers or suppliers much money. Bill Haser, principal and senior consultant at CMG Consulting … [Read more...] about U.S. auto companies discuss Industry 4.0

In an interview with ET Now, Mark Fulthorpe, Global Director, IHS Markit Automotive, says expects in a very short space of time to overtake output levels from South Korea. Edited excerpts: The impact of the demonetisation drive in India on the India automotive sector, how are you evaluating it prima facie? I have just arrived in India yesterday. Initial impressions were from afar and I think a lot of people outside the country are impressed with the scale or the ambition of the undertaking. So that is certainly the impression from distance. Obviously as you get closer to the market on the ground and you listen to colleagues, then clearly there will be some disruption in the short term and this is where we beginning with our interpretation. At the moment, we think that the effect is likely to be felt most in the first quarter of 2017 basically that lack of liquidity in the market place. In times of uncertainty, consumers tend to hold on to their cash whether it is something that … [Read more...] about India will overtake Germany in car production in 5 years: Mark Fulthorpe, IHS Markit Automotive

Video PlayerClose CHONGQING, April 12 (Xinhua) -- Changan Automobile Company Limited, a Chinese car manufacturer, will partner with Tencent to form a subsidiary to develop the internet of vehicles (IoV). The two signed an agreement for the joint venture Thursday at the ongoing 2018 China "Internet Plus" & Digital Economy Summit in southwest China's Chongqing Municipality. A statement from Changan Automobile said the joint venture will develop an IoV platform and conduct big data analysis in facial recognition and driver drowsiness detection. In 2016, Changan Automobile joined with search engine Baidu in cloud computing and artificial intelligence in traditional car making. … [Read more...] about Changan Auto teams up with Tencent in auto intelligence