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Bosch Looking for Sales of Almost $1.5B in Low-Price Vehicle Segment by 2010
30 December 2007
In an interview with Germany’s auto motor und sport magazine, Bosch India Managing Director Dr. Albert Hieronimus said that the company wants to supply components and systems to manufacturers of low-price vehicles (LPV) such as Tata Motors in India, and that the company expects revenue from the LPV segment to exceed €1 billion (US$1.47 billion) by 2010.
Tata Motors will introduce its $2,500 “People’s Car” on 10 January at 9th Auto Expo in New Delhi. The company plans to begin production of the low-priced vehicle in 2008. (Earlier post.)
Bosch expects the global market for low price vehicles (LPVs)—vehicles with a net price below a threshold of €7,000 (US$9,400), to grow annually at 5%, twice as fast as the overall car market. (Earlier post.)
By 2010, LPVs are projected to have a 13% share of the new car market worldwide. Sales of LPVs are expected to increase especially rapidly in China and India, which combined are expected to account for one half the LPV market in the future.
December 30, 2007 in Brief | Permalink | Comments (3) | TrackBack (0)
Comments
Posted by: | December 30, 2007 at 11:03 AM
100 years ago, a car for the masses might have been a very prosperous idea. 100 years later, it means more demand for fossil fuels and another path needs to be found.
Posted by: sjc | December 30, 2007 at 12:01 PM
sjc;
Almost One hundred years ago some 30000 electric vehicles were built.
There are no acceptable reasons why future people cars cannot be BEVs or PHEVs. Mass producing a compact BEV + adequate batteries in China or India should not cost more than $9400 USD.
Interesting times ahead.
Posted by: Harvey D | December 30, 2007 at 05:05 PM
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If LPV (Low Price Vehicles) could cost as much as $9400 (USD) wouldn't that make a $2500 (USD) vehicle a VLPV (Very Low Price Vehicle)?
Will many LPV or VLPV be electric or VLPV/BEVs?
There is no doubt that similar affordable LPV/VLPV will soon be mass produced in China + India + Mexico + Brazil and many other countries with lower labour cost. That is what is needed for their local market + a huge export potential.
Will we ban or restrict import for 1001 reasons?