This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Automakers Look to Drive Sales in India

NEW YORK ( TheStreet) -- India is poised to be the second largest auto market (behind China), and the largest global automakers are jumping at the chance to seize a piece that market at the tenth Delhi Auto Expo Thursday.

Their mission: use the auto-expo as a launching pad to grab market share among Indian car shoppers, possibly gaining an edge over Suzuki in the process. Suzuki controls half of India's market, according to Bloomberg, which reports that India has 50 million middle-class consumers, many with a penchant for global car brands.

India's car buyers are currently on the rise amid the implementation of government tax incentives for automobile purchases; all told, about 1.8 million visitors could show up at the Expo, according to Bloomberg.

The vehicles most likely to create the biggest buzz at the Expo will be small cars and electric and hybrid vehicles, analysts say. Toyota (TM - Get Report), Honda (HMC - Get Report), Hyundai and Suzuki will all be putting on display existing or new hybrid and electric vehicle models.

Also on display will be new models of small cars from Honda, Toyota and Suzuki, as well as the Volkswagen (VLKAY) Polo, the Nissan (NSANY) Micra and the Ford (F) Figo.

Ahead of the Expo, GM has launched the compact Chevrolet Beat, as part of the company's $500 million expansion plan into India, according to the Wall Street Journal. As part of the plan, GM will pour $300 million into a car factory in Talegaon city.

GM wants to double its production at the Talegaon plant to 90,000 cars a year, partly to support the introduction of the Beat into the Indian market, according to the Journal.

-- Reported by Andrea Tse in New York >>See our new stock quote page.

Follow on Twitter and become a fan on Facebook.
Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
NSANY $19.25 -3.51%
VLKAY $40.38 -1.68%
HMC $31.65 0.70%
TM $132.27 -0.23%
AAPL $122.37 -0.50%


Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs