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ECONOMIC SLOWDOWN HITS INDIA'S AUTO INDUSTRY IN 2001.
NEW DELHI, Jan 1 Asia Pulse - The auto industry was hit by the economic slowdown in 2001, but released many new models of commercial vehicles and two-wheelers.
The commoner's two-wheelers remained under strain on account of poor scooter sales. However, the booming motorcycle market, which accounted for 60 per cent of the segment, kept attracting young customers with sleek and fuel-efficient models to overcome the slump in the two-wheeler segment.
The growing demand for motorcycles also forced scooter makers like Kinetic and LML to foray into motorcycle manufacturing which resulted in rich dividends. Commercial vehicles too drove downhill as demand from both the private and public sectors fell.
However, growth in sales of medium and heavy vehicles, used mainly in infrastructure sectors like cement and steel as well as transportation, in the later part of the year could be interpreted as a slight resurgence in the sluggish economy.
The commercial vehicle business witnessed power, comfort and features as the driving forces with two of the major manufacturers, Telco and Ashok Leyland and Swedish major Volvo, rolling out new and advanced models.
Sales of high-priced but highly efficient ...
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- News wire article from: Knight Ridder Washington Bureau (Washington, DC) May 4, 2001 700+ words
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- News wire article from: Buffalo News (Buffalo, NY) May 16, 2001 700+ words
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- News wire article from: Business Line June 22, 2009 700+ words
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- Newspaper article from: Albuquerque Journal (Albuquerque, NM) August 27, 2001 700+ words
...adversely affected key trade sectors, particularly the auto industry. All three of the top automakers have taken steps to reduce...is expected to grow 1.6 percent this year. The U.S. economic slowdown has affected our neighbor south of the border. There is...
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- News wire article from: Thai Press Reports October 31, 2008 700+ words
...readiness on Wednesday to support auto industry in meeting stricter CO2 emissions...global financial crisis and sharp economic slowdown. "We are open to the possibility...conference Wednesday after meeting auto industry chief executives. "We are talking...
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- Magazine article from: Detroiter LITTMAN, DAVID February 1, 2001 700+ words
...and borrowing costs have contributed vulnerability to the auto industry. And stock market declines have further eroded consumer...and beyond. Any hit on discretionary income suffocates the auto industry and the Michigan economy. Automakers are scrambling to trim...
Source: HighBeam Research, ECONOMIC SLOWDOWN HITS INDIA'S AUTO INDUSTRY IN 2001.