New Delhi, Feb 13 (IANS) While the sale of cars made in Europe, the US, Japan and South Korea have been banned in the Russian market as part of the sanctions imposed on Moscow after the Ukraine war, these vehicles are entering the Communist country. New registration data reviewed by Reuters shows that foreign-brand vehicles continue to enter Russia in significant numbers, largely routed through China. “Many of these cars are manufactured in China through joint ventures with global brands. Howeve…
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Seoul, Feb 4 (IANS) Hyundai Motor and Kia reported record vehicle sales for January in the United States, driven by strong demand for sport utility vehicles (SUVs) and hybrid models, the automakers said on Wednesday.The two automakers sold a combined 125,296 vehicles in the U.S. last month, up 7.7 percent from a year earlier, according to the companies, reports Yonhap news agency.Hyundai Motor, including its luxury brand Genesis, sold 60,794 units, up 2.4 percent on-year, while Kia’s sales jumpe…
New Delhi, Jan 26 (IANS) Negotiations for the long-awaited India-European Union Free Trade Agreement (FTA) have been successfully concluded, and the deal will be officially announced on Tuesday, Commerce Secretary Rajesh Agrawal said on Monday. Describing the agreement as balanced and forward-looking, Agrawal noted that it would strengthen economic integration between India and the EU and significantly boost trade and investment flows.The FTA is expected to come into force sometime next year aft…
New Delhi, Jan 26 (IANS) India is preparing to sharply cut import duties on cars from the European Union as part of a long-pending free trade agreement, which could be announced as early as Tuesday, according to reports.Under the proposed deal, India plans to bring down peak import tariffs on EU-made cars to 40 per cent from the current levels of up to 110 per cent.This would be the biggest opening so far of India’s tightly protected automobile market.Initially, the lower duty will apply to a …