Automobile | Green World Investor

Train Accidents in India becoming as common as Road Accidents – Need Holistic Transport Solution

11 Jan, 2012

Train Accidents in India are starting to happen with surprising regularity with hardly a month passing by without a major collision or accident. Small accidents seem to be happening every day with news report of a collision not generating any mindshare these days. Road Accidents in India too happen with great regulatiry with some estimates of 1000 Road Deaths happening in India every day . This is due to government and people apathy towards safety regulation and following of laws and norms. It is just not resticted to trains but encompasses the entire system such as fire safety etc. Without a major change in the people attitude towards safety regulation expect such accident and waste of human life will continue to happen.

What is needed is a more holistic solution to the whole transportation mess with more emphasis on

a) Public Transport which is cheap, easily available and comfortable. India can’t follow the US based car focused transportation policy

b) Safety Enforcment – Strict action against people erring . Currently only a $3-4 fine does not deter people from breaking laws

c) Investment – The use of more safety equipment on Trains has been talked for long with anti collision devices etc. However nothing has come out of it with only more Trains being announced

India’s Transport Policy or Lack of One makes you think that it is heading towards disaster both from the view of pollution and congestion.India’s growing middle and upper class is rapidly buying cars while India’s road network barely increases and the current transport network is groaning under the strains already.Indian cities have become a veritable sea of cars chaotically congested and barely moving.There is no coherent transport policy as India’s per capita income grows and it moves beyond hand pulled carts.While there is huge innovation on the private front with India’s domestic Tata Motors company launching a $2500 car ,the public front is still frozen.

Congestion Reaches New Heights

Traffic Congestion and Jams have become so frequent that it seems that they are a constant feature.Traveling in Indian cities has become a nightmare especially if you are thinking of traveling during peak office hours.Here are some of the regular problems arising from these congestion.Note these don’t apply to India’s business and political elite as the police clear roads during their sojourns in the cities.It is only applicable to the common man.

1) People dying in ambulances – With miles of traffic jams,its almost impossible for ambulances to navigate a way leaing to hours long journeys.People dying in traffic jams has become a regular feature,so if you stay in India and are not part of the society elite,try and stay near a hospital.Your life may depend on it

2) Road Rage - This has become a frequent occurrence too with people getting irrationally angry and irritated during jams.This has increased incidences of road rage which frequently leads to killings.

3) Missed flights and appointments – Time bound assignments are often missed due to cray traffic congestion.Missed air flights have become common.A bonanza for India’s airline operators and a huge unsolved problem for flight takers.

4) Parking Fights – Most of Indian cities are unplanned without any parking for most houses.This leads to a huge problem in terms of illegal parking.Even Legal Parking sees fights between neighbours leading to fights and sometimes even deaths.With thousands and millions of car hitting the roads every day and month,the problem is growing even more acute.No solution in sight as Indian politicians happily line up their pockets in corruption scams.

Bramhaputra Mail rams into goods train in Sahibganj

Bramhaputra Mail coming from Dibrugarh and enroute to New Delhi collided with a good train at 5.50 a.m. on Wednesday near Karanpurato station at Barharwa- Sahebgunj section of Eastern Railways.According to Mr. Samir Goswami, CPRO of Eastern Railways, 2 persons were killed and four others injured in the sleeper class compartment.

BYD Solar Panels (240w) Review and Comparison of Efficiency plus Specifications

7 Jul, 2011

Solar Panels

BYD is China’s biggest producer of Electric Vehicles and Lithium Ion batteries.The Company was made famous when Warren Buffet bought a 10% stake in the company,one of his biggest Foreign Investments.China has become the dominant leader in Solar Manufacturing from being an nobody in a short span of 5 years.Chinese producers are going to produce about 60% of the global supply this year led by companies like Solarfun,Trina Solar,Yingli Green and Suntech.BYD too has decided to throw its hat into the ring with a big bang investment.The company is planning to spend 22.5 Billion Yuan on Solar Energy over the next 5 years for which it has already secured financing.The company has started a 100 MW cell plant in the Shaanxi province and plans to expand to 5000 MW by 2015.BYD signed a $300 million polysilicon supply contract with LDK Solar (another Chinese solar producer).This is a huge supply contract considering the 2 year time frame.Though wafer and polysilicon prices have recently become slightly constrained recently,there is no scope for the massive shortages seen in 2008.

BYD Solar Panels Review

BYD Solar Panels are mostly sold in Europe and Australia as of now as the company does not have a global network unlike big solar panel companies like Suntech or Trina Solar.This is also the reason that BYD Solar Panels are one of the cheapest price solar panels being sold currently.This is also due to the status of BYD Solar Panels being considered Tier 2 which makes them lower priced in the market.BYD PV solar panels have a 10 year product warranty and 25 year performance warranty. UL, CE and ISO certified which is standard for the industry.BYD Solar Panels these days can be bought for as low as $1.2Watt.

BYD Sells Polycrystalline Solar Panels in the 215 to 240 Ranges besides shipping older 145 Watt Solar Panels as well.The specifications for BYD Solar Panels are quite standard with around 20 kg weight,60 Solar Cells,Aluminium Frames , 1P 65 certified junction boxes, a power/temp co-efficient of -0.47% and a tolerance of -3/+3% etc.BYD Solar Panels don’t have anything separating from the host of other solar panel brands in the market and it does not have a long manufacturing history as well.The only thing good about BYD Solar Panels is the low price and you can safely avoid it for other solar panels.BYD Solar Panels Efficiency is

BYD Solar Panels Comparison

Note the Chinese Solar Panel Prices at around $1.3/watt are the lowest in the world and are sold at a substantial discount to the European and American Solar Panels.These days Solar Panels are also being outsource to China by bigger companies in the West to take advantage of the low cost Chinese Solar Panels..The Prices of Solar Panels can fluctuate a lot depending on the global supply/demand and is currently at around $1.65/watt in 2011 beginning.However the prices have come down by around 20-30% .The costs of Chinese Solar Panels differs by different companies with the lowest Panel Producers being able to producer Solar Panels at around $1/watt.

Chinese Solar Panel Manufacturers

There are many Chinese Solar Panel Manufacturers as the costs of setting up a Solar Panel Plant is quite low at around $5 million for a basic solar module line.However there are only a few big Solar Panel Companies which have capacities running into hundreds of Megawatts per year.There are also a number of big State Owned (SOE) Chinese conglomerates that are entering the Solar Panel Industry.Here is a list of the Best Chinese manufacturers of Solar Panels

Suntech – Suntech was the world’s biggest producer of solar panels in 2010 and was one the first companies to set up operations in China.Its example was followed by a host of other Chinese companies.Suntech has been slow to expand compared to the fast growing small companies in China and has lost marketshare to them.It has started to vertically integrate in order to meet the low cost challenge from Trina and Yingli.Suntech makes one of the best quality Solar Panels in China.
Yingli Green Energy - Yingli Green Energy is one of the oldest Chinese companies and is completely integrated from polysilicon.The company has been expanding rapidly and has one of the lowest cost structures in the industry.Yingli Green Energy has been sponsoring Football in Europe and has started a new line of high efficiency “Panda” Solar Panels.Yingli is the second biggest producer of Solar Panels in China
Trina Solar – Trina Solar is one of the lowest cost manufacturers of Solar Panels in the World right now and also sells it at a very low price.This is the reason that the company in a span of few short years has managed to acquire a substantial global marketshare.The prices the solar panels being sold are around $340 per 200 watt module.Trina Solar.Like Yingli and Suntech,Trina Solar Panels are one the best quality in China
Hanwha Solar One - The Company which was recently acquired by South Korean Chemicals Giant Hanwha also makes one of the cheapest panels and sells it a very low price.The quality is also quite good and with strong parentage behind it,the solar panels made by the company.Again like Trina Solar,it has very low cost Chinese manufacturing capacity.The company was earlier known as Solarfun.
Canadian Solar – The Company sells a wide variety of solar panels unlike other producers.The Solar Panel Selling Price is also quite cheap.The Company is headquartered in Canada with factories in China and Ontario.Canadian Solar is the 5th biggest producer of Solar Panels in China.
LDK Solar - This is the biggest producer of solar wafers that are used by crystalline solar panels but is losing its No.1 position to GCL Poly.Is expanding rapidly into other parts of the solar supply chain and could break into top 10 solar panel producer in the next couple of years.LDK Solar is building a huge solar panel and cell production facility.It sells Solar Panels mostly to other Solar Panel Companies.
Renesola – Very similar to LDK Solar in operations and structure,this Chinese company is the lowest cost producer of solar wafer producer in the world.It is expanding into other parts of the supply chain.Like LDK Solar,Renesola sells most of its Solar Panels under an OEM Contract
Jinko Solar – Jinko Solar has shown the fastest growth rates in the Chinese Solar Panel Industry.The company is expanding again to become one of the Top 5 Solar Panel Producers in China.Jinko Solar like Trina and Yingli is vertically integrated and has one of the lowest cost solar panel production process.

Read Review on Other Solar Panels

Sunpower Solar Panels

Sharp Solar Panels

Sanyo Solar Panels

First Solar Solar Panels

List of Top Car Companies and state of Auto Industry in India – Facing Fuel Price,Interest Rate Hurdles –

6 Jul, 2011

Indian Markets

AUTO INDUSTRY IN INDIA

Auto Industry in India is facing the twin problems of Fuel Price Hikes and High Interest Rates which have sharply reduced the growth of the industry.The Indian car companies were riding high in 2010 as the economy grew and many people in India graduated to the middle class.Some companies were showing triple digit growth rate as India become the hottest market in the world.All global car companies were in a rush to expand their India sales and distribution network at any cost.However 2011 has brought them down to earth with almost 50% increase in petrol prices keeping buyers away.On top of that car financing companies have also increased their interest rates for auto loans by around 2-3% which makes the servicing of the EMIs of car loan very difficult.This has made most buyers sit tight and wait for a better environment.The car companies which hiked price to pass on the increasing costs of steel and other commodities are in a pickle.They are being forced to sit on high inventories and can’t afford to give big discounts as well.

The sautomobile industry in India happens to be the ninth largest in the world. It is the fourth largest exporter of automobiles following Japan, South Korea and Thailand. It is the world’s second largest manufacturer of motorcycles, with annual sales exceeding 8.5 million in 2009. Several Indian automobile manufacturers have spread their operations globally. India manufactures over 17.5 million vehicles (including 2 wheeler and 4 wheeler) and exports about 2.33 million every year. India’s passenger car and commercial vehicle manufacturing industry is the seventh largest in the world, with an annual production of more than 3.7 million units in 2010. In the commercial vehicle segment, Tata Motors is leader with a market share of about 64%, whereas Maruti Suzuki is leads the passenger vehicle segment with a market share of 46%. Hyundai Motor India and Mahindra and Mahindra are more interested in expanding their hold in the overseas market. (Source – Wikipedia).

Read my Experience in Buying Cheap Car Insurance in India and Electric Car Companies – 4 Weddings and a Divorce

LIST OF CAR COMPANIES IN INDIA –

MARUTI SUZUKI INDIA LTD. – is a subsidiary of Suzuki Motor Corporation, Japan. It was formerly known as Maruti Udyog Limited. It has been the leader of the Indian car market for more than two decades. It has a production capacity of over a 1.2 million vehicles annually at its manufacturing units in Gurgaon & Manesar, New Delhi.The company has plans to expand its manufacturing capacity to 1.75 million by 2013. The recorded a sales of 36,128 crores in 2010-11 & a net profit margin of 6.06% in 2011.
The company offers a wide range of cars across different segments – Maruti 800, Omni and Eeco, international brands Alto, Alto-K10, A-star, WagonR, Swift, Ritz and Estilo, Gypsy, SUV Grand Vitara, sedans SX4, Swift DZire and Kizashi. As a step forward to the environment friendly initiative, Maruti Suzuki introduced factory fitted CNG option on 5 models – Alto, Estilo, Wagon R and Sx4, in August 2010.
In 2010-11, the company sold over 1.27 million vehicles including approximately 1,38,200 units of exports. With this, at the end of March 2011, Maruti Suzuki had a market share of 44.9% of the Indian passenger car market.
HONDA SIEL CARS INDIA LTD. – was incorporated in December 1995 as a joint venture between Honda Motor Co. Ltd., Japan and Siel Limited. The company has an annual capacity of producing 1,60,000 units at its manufacturing units in Greater Noida, UP & Tapukara, Rajasthan.
The company’s product range includes Honda Brio, Honda Jazz, Honda City, Honda Civic and Honda Accord.
MAHINDRA- The company has a growing presence in the automotive industry, aerospace, aftermarket, components, consulting services, defense, energy, financial services, logistics, real estate, retail, and two wheelers. A US $12.5 billion multinational group based in Mumbai, India, with more than 137,000 people in over 100 countries. It has a net profit margin of 8.64% in 2011. The much anticipated Mahindra XUV500 makes its global debut in Pune, India starting at an unbeatable price of Rs. 10.80Lacs replete with cheetah-inspired styling, refinement like never before and enhanced technology and safety features along with luxurious interiors, making the XUV500 an apt choice for sedan and SUV buyers.
Its flagship company Mahindra & Mahindra Limited is the only Indian automobile manufacturer to feature in the top 10 list of the Carbon Disclosure Leadership Index in India – 2010, created by the Carbon Disclosure (CDP). In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.
TATA MOTORS – TATA group is a multinational company with different business segments like communications and information technology, automobiles, engineering, materials, services, energy, consumer products and chemicals. 65.8% of the ownership of Tata Group is held in charitable trusts. Tata Motors is India’s largest automobile company, with consolidated net profit of Rs.9,274 crore in 2010–11. It is the leader in commercial vehicles. The company should be given credit of fulfilling a common man’s dream to drive his own car, with the launch of NANO in India. Some of the other passenger vehicles in India are Vista, Indica, Indigo, Aria, Manza, Safari, Sumo, Winger. Ford sold Jaguar & Land Rover in 2008 to TATA Motors. Tata Motors has auto manufacturing and assembly plants in Jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad and Pune in India.
TOYOTA- Toyota is one of the biggest vehicle manufacturers, and one of the most widely known companies, in the world today. As of the end of March 2011, Toyota has 50 overseas manufacturing companies in 26 countries and regions. Toyota’s vehicles are sold in more than 170 countries and regions. Toyota has its presence in India through its manufacturing companies -Toyota Kirloskar Motor Pvt Ltd. manufacturing Corolla, Innova, Fortuner, Etios &
Toyota Kirloskar Auto Parts Pvt Ltd. Manufacturing spare parts in southern India. The other car models manufactured by the company are Ca,ry, Prius, Land Cruiser Prado.
GENERAL MOTORS- It is a company of diverse brands, selling over 7.5 million vehicles in over 120 countries worldwide. General Motors India Private Limited is a partnership between General Motors(50%) and SAIC(50%). In 1994 GMIPL was formed as a joint venture, owned 50 percent by Hindustan Motors and 50 percent by General Motors, to produce and sell Opel branded vehicles. GM bought out the Hindustan Motors interest in 1999. It is the 5th largest automobile manufacturing company in India after Maruti Suzuki, Hyundai, Tata Motors and Mahindra. Chevrolet, Spark, Beat, Aveo, Tavera, Cruz are some of the well known brands from this company. It operates vehicle manufacturing plants in Halol, Gujarat and Talegaon Dabhade, Maharastra and a large technical center in Bangalore. The annual production capacity of its Halol and Talegaon Dabhade Manufacturing Plants is around 385,000 vehicles.
FORD – Ford Motor Company is the world’s second largest automaker with approximately 350,000 employees, and operating in more than 200 markets on six continents.Ford India Private Limited is a wholly owned subsidiary of the Ford Motor Company in India. it operates in India through Ford India Pvt. Ltd. head quartered in Chengalpattu, Tamil Nadu. It is the sixth largest car manufacturer in India after Maruti Suzuki, Hyundai, Tata, Mahindra and Chevrolet. The company is committed towards total customer satisfaction & pollution control. The company manufactures cars – Fiesta & Figo (hatchback) & SUVs -Endeavour. In the year 2010, FIPL recorded sales of 83,887 vehicles and registered a sales growth of 172%.
MERCEDES-BENZ – Mercedes-Benz has been associated with India for more than 50 years. The business in India covers local production of Mercedes-Benz cars, making available imported Mercedes-Benz cars, Commercial Vehicle operations, Global sourcing of auto components & research and development. The various series of Mercedes cars are C,CL,CLS,E,GL,M,SL & SLK Class. The Mercedes-Benz brand is known for its fascinating details, innovative power and unmatchable design. It has a variety to offer ranging from cars of automotive history design or sporty or multimedia entertprovides options. Mercedes provides a comprehensive brand experience.
VOLKSWAGEN – With its headquarters in Pune, Maharashtra (India), the Volkswagen Group is represented by three brands in India: Volkswagen, Audi and Skoda. Its headquarters is in Pune, Maharashtra & it has completed 10 years of its Indian journey. It began its Indian journey with the Skoda brand in 2001 & expanded its business line with Audi and Volkswagen brand in 2007. Each brand has its own character and operates as an independent entity in the market.
Volkswagen has nine brands globally – Audi, Bentley, Bugatti, Lamborghini, Scania, Seat, Skoda, Volkswagen Commercial Vehicles (Volkswagen Nutzfahrzeuge) and Volkswagen Passenger Cars. The product range extends from low-consumption small cars to luxury class vehicles and trucks. The Group operates 60 production plants around the world. In total more than 370,000 employees produce more than 26,600 vehicles or are involved in vehicle-related services each working day.
HYUNDAI – Hyundai Motor India Limited (HMIL) is the second largest car manufacturer in India. It is the fastest growing automobile manufacturer in India. It is a wholly owned subsidiary of Hyundai Motor Company (HMC), South Korea and is the largest passenger car exporter. HMIL presently markets 7 models of passenger cars- Santro, i10, i20, Accent, Verna, Sonata Transform and the SUV segment includes the Santa Fe. The other models are Elantra, Eon,Getz.
The annual production capacity is 600,000 units. Its manufacturing plant is near Chennai & the second plant came up in 2008. Its research and development facility is located in Hyderabad. It is the number one exporter of passenger car of the country & achieved the figure of 10 lakh cars export in just over a decade. HMIL currently exports cars to more than 115 countries across EU, Africa, Middle East, Latin America and Asia Pacific. In calendar year 2010, HMIL grew by 7.8% cumulatively registering total sales of 603,819 units of which domestic sales accounted for 356,717 units & Overseas sales accounted for 247,102 units.

What is an LED and How it Works – Advantages,Applications,Types and Costs of Light Emitting Diodes

6 Jul, 2011

Light Emitting Diodes

WHAT IS AN LED/ BASIC WORKING PRINCIPLE

A light-emitting diode (LED) is a special type of semiconductor device that emits visible light when an electric current passes through it. It has two sides – one with an abundance of electrons called “n-type semiconductor” & the other with bunch of holes that need to be filled by electrons known as “p-type semiconductor “. With the help of these p-n junctions, these semiconductors can control the direction of the flow of electricity. The LED works on the principle that when electrons lose energy, they move from a higher orbit to a lower orbit. The energy lost is in the form of light photons. The color of the light emitted depends upon the frequency of the light photon released. The higher the frequency, the greater is the energy release. Gallium nitride is the light emitting ingredient in LEDs. It is used in the sapphire-based blue and green LEDs. Its practical application is in traffic signals & in lasers in high-definition DVD players.

LED HISTORY

H. J. Round of Marconi Labs discovered Electroluminescence as a phenomenon in 1907. Later in 1955, Rubin Braunstein of the Radio Corporation of America reported on infrared emission from gallium arsenide (GaAs) and other semiconductor. Nick Holonyak can be called the “father of the light-emitting diode”. He developed the first practical visible-spectrum (red) LED in 1962, while working at General Electric Company.

LED ADVANTAGES

Uniform Lighting – the light is spread evenly over the lens which make them brighter than normal luminous lights.
Energy Efficient – In contrast to the normal lights where a higher percentage of energy is lost as heat, LED light gives off negligible amount of heat so a higher amount of electricity is converted into light. This phenomenon of release of light is known as “electroluminescence”.
Longer Life – These lights have greater durability & hence are more reliable. They can function for decades, if properly installed.
Small Size
No Filtration Required – Unlike Incandescent lamps producing only white light which needs to be filtered for applications such as traffic lights, the light generated by LEDs, need not to be filtered. Thus there is no additional loss of energy.

LED APPLICATIONS

LCD panel backlighting - white LEDs are used in flat-panel computer displays.
Remote Controls of televisions, DVD players, and other domestic appliances – Infrared LEDs are used here.
Automotive Lighting – LEDs are used particularly in brake lights, turning signals & indicators.
Traffic Signals – Groups of LEDs are packaged into arrays & arranged to form a traffic light.
Aviation Lighting

CHALLENGES – Some of the electricity in an LED becomes heat rather than light. If that heat is not removed, the LEDs run at high temperatures, which not only lowers their efficiency, but also makes the LED more dangerous and less reliable. Thus, thermal management of high power LEDs is a crucial area of research and development.

TYPES OF LEDs

Different color LEDs require different forward voltages to operate. Red LEDs require the least voltage, while blue requires higher voltage. Typically, a red LED requires about 2 volts, while blue LEDs require around 4 volts. Based on the color of LED, it can be divided into:

Visible LEDs – The colors emitted by LEDs various with the temperatures & currents. Different colors are given off at different temperatures & current. LED colors are often given in “nm”, or nanometers, which is the wavelength of the light. LEDs are not perfectly monochromatic, but rather produce wavelengths over a small region of the spectrum.
Infrared LEDs – are sometimes called IREDs – Infra Red Emitting Diodes. The infrared band can be divided into Near Infrared (NIR) and Far Infrared (IR). Far infrared does not come in the range of LEDs. NIR can be further divided into two bands, longwave and shortwave NIR.
Ultraviolet LEDs – LEDs emit UV-A which is 400 nm of wavelength. Ultraviolet UV-B causes sunburns, UV-C is dangerous as it kills things. However it is advisable not to stare into an ultraviolet LED.
White LEDs – have a color temperature. Color Temperature is a measure of the relative amounts of red or blue – higher color temperatures have more blue.

LED COST

LEDs are created on a substrate of sapphire & hence are expensive. However, a technique is developed to create LEDs on low-cost, metal-coated silicon wafers. The sapphire-based technology, however, is currently too expensive for widespread domestic-lighting use, costing at least 20 times more than conventional incandescent and compact fluorescent light bulbs. China with its low production cost & labor cost has made the manufacturing of LEDs very cheap & affordable.There are LED bulbs on the market which can replace the regular CFLs,the cost has fallen rapidly to around $20.With major Chinese makers getting into the manufacture of the sapphire substrates and wafres,it is expected that the general lighting market will be completely taken over by LEDs.

Motor Insurance in India – Quick Guide to Steps in Buying Cheap Car Insurance,Car Insurance Laws,Government and Private Insurers,Best Motor Insurance Company

8 Apr, 2011

Finance

Motor Insurance Industry and Laws in India

Motor insurance is an essential requirement for all new vehicles. This applies for both commercial and personal use. Under the provisions of Motor Vehicles Act, all vehicles that ply in public places must have an insurance policy that at least covers “Third Party Liability” as specified under the Act. A Comprehensive Motor Insurance Cover in addition to the mandatory third-party cover also protects the car owner from financial losses, caused by loss or damage or theft of the vehicle.

In a Related topic don’t forget to read the Best Car Insurance in India Guide

Auto insurance includes loss or damage of the vehicle by any kind of accident, fire, lightning, self ignition, external explosion, burglary, or theft, or by any malicious act. Auto insurance companies also pay for grounds like riots, strikes, terrorist acts, and natural calamities like earthquake, cyclone, flood, and inundation. Most auto insurance companies in India have comprehensive policies to help their customers. Some of them have also tied up with top automobile manufacturers for a fast insurance process. Auto insurance companies have separate plans for two wheelers, four wheelers, commercial vehicles. Car Insurance Premium is calculated based on the car’s Model, Age and the Registration City. Due to this Pricing Model, in some cases, the premium for similar cars could be higher as well. Some of the biggest Insurance companies in India are listed below:

Government Car Insurance Companies in India

United India Insurance Company ltd. – General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited. After Nationalization United India has grown by leaps and bounds. United India has been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC Ltd , GMR- Hyderabad International Airport Ltd, Mumbai International Airport Ltd Tirumala-Tirupati Devasthanam etc.
The Oriental Insurance Company Ltd.- The Company was a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd and was formed to carry out General Insurance business. In 2003 all shares of our company held by the General Insurance Corporation of India has been transferred to Central Government. The company has developed various types of insurance covers to cater to the needs of both the urban and rural population of India. From less than a lakh at inception, the Gross Premium went up to Rs.58 crores in 1973 and during 2008-09 the figure stood at a Rs. 4078 crores.
National Insurance – Consequent to passing of the General Insurance Business Nationalization Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India which is fully owned by the Government of India. National Insurance Company Ltd. is one of the leading public sector insurance companies of India, carrying out non life insurance business. It is the second largest non life insurer in India having a large market presence in Northern and Eastern India. The products cater to the diverse insurance requirements of its 14 million policyholders.
The New India Assurance Co. Ltd. – It is a leading global insurance group, with offices and branches throughout India and various countries abroad. There are policies to cover all types of vehicles plying on public roads such as Scooters &Motorcycle, Private cars, all types of commercial vehicles, Motor Trade (vehicles in show rooms and garages). Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lakh for Scooters / Motor Cycles. The policy also pays for towing charges from the place of accident to the workshop. This policy covers loss or damage to the insured vehicle and its accessories due to fire, self-ignition, burglary, earthquake, flood, inundation, cyclone or while in transit.

Private Car Insurance Companies in India

TATA AIG – Tata AIG General Insurance Company Limited is a joint venture company, formed by the Tata Group and American International Group, Inc. The Tata Group holds 74 per cent stake in the insurance venture with AIG holding the balance 26 percent. Tata AIG General Insurance Company, which started its operations in India in 2001, provides insurance solutions to individuals and corporates. It offers a complete range of general insurance products including insurance for automobile, home, personal accident, travel, energy, marine, property and casualty as well as several specialized financial lines. Some of the car insurance features offered are Instant buy / renew online, Free Car Pick up, Warranty on repairs, Direct Settlement at garages & Unique Add On covers.
ICICI Lombard – ICICI Lombard is the largest private sector general insurance company in India with a Gross Written Premium over Rs.3,695 crore as of March 2010. The company issued over 44 lakh policies ICICI Lombard GIC Ltd. is a 74:26 joint venture between ICICI Bank Limited, India’s second largest bank and Fairfax Financial Holdings Limited,a Canada based USD 30 billion diversified financial services company. C
Bajaj Allianz – Bajaj Allianz General Insurance is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Bajaj Allianz has made a profit before tax of Rs. 180 crores and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last four years. As a registered Indian Insurance Company and a capital base of Rs. 110 crores, the company is fully licensed to underwrite all lines of general insurance business. Bajaj Allianz offers towing facility in case of a breakdown or accident. The users can also transfer their existing ‘No Claim Bonus’ from any car insurance provider and the bonus may range from 20% – 50%.
Chola MS – Cholamandalam MS General Insurance is a Joint Venture between the USD 3 billion Murugappa Group, one of India’s leading business conglomerates and Mitsui Sumitomo Insurance Company Limited, which is part of the Mitsui Sumitomo Insurance Group of Japan, the largest General Insurance Company in Japan. Some of the Motor Insurance features are that it is a complete comprehensive policy that offers both Third Party Cover and Own Damage Cover. A personal Accident Cover is provided for both owner-driver and passengers. Protection against losses or damages due to accidental external means, burglary, theft and various other perils is provided.
IIFCO TOKIO - It is a joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO) and its associates and Tokio Marine and Nichido Fire Group, the largest listed insurance group in Japan. From a modest Rs 213 Crores of GWP (Gross Written Premium) in 2001-02, it has achieved Rs 1640 Crores in 2009-10, thereby becoming one of India’s leading private players. It is the first company in India to underwrite mega policies for a fertilizer and an automobile company. It offers various policies covering Health, Travel, Car, Retail etc.One of the best private Government, Personal Finance, RegulatorCar Insurance Companies in my View
Maruti Insurance – Maruti isone of the oldest car manufacturers in India, Maruti has achieved the status one of the reliable car brands. Maruti was established in 1981 and was known as Maruti Udyog. In the early 1990s’, Maruti Udyog and automobile giant Suzuki began a joint venture and Maruti Udyog was renamed as Maruti Suzuki India Ltd. Maruti then, introduced compact car models to the Indian market. Maruti automobiles, Maruti insurance, Maruti finance were some of the new initiatives taken by the company. The company has ties up with Bajaj Allianz, National Insurance Company, Royal Sundaram, and New India Assurance for its insurance business. Maruti provides motor insurance for Maruti vehicles only, which excludes Third Party policies. It is available to customers only through Maruti dealer network all over India. Maruti Insurance provides insurance for Maruti vehicles up to 7 years old.
Reliance General Insurance Ltd. – Reliance General Insurance is one of India’s leading private general insurance companies with over 94 customized insurance products catering to the corporate, SME and individual customers. It covers the car against accidents, burglaries, natural calamities etc. It also gives personal accident insurance cover and third party liability cover.

Cheap and Best Car Insurance Company

Steps in Buying the Cheapest Car Insurance

1) Try to avoid Private Companies as they make a lot of promises and advantages but disappear once the time to pay comes up.Insurance being such a critical service I did not want a private company irrespective of their glitzy new features etc.

2) Forget the Fancy Features that are being offered to raise the premium like zero depreciation,towing,24/7 helplines etc.Most of them are just ways to raise premiums and lure customers.Try and get the bare bone policy with the lowest premium

3) Compare Quotes from different Insurance Aggregators without buying from them – I used 3 Insurance Comparison Websites This gave me a general idea about the prices being charged by various insurance companies.I could quickly shortlist Iffco-Tokio as one of the cheapest insurance providers with government general insurance companies oriental insurance,national insurance being slightly expensive than these.I could not find anything great or cheap about Icici Lombard,Bajaj Allianz and tata Aig which use a heavy amount of TV advertising and had a good recall.

4) Private Companies make Consumer Lives Such a Pain that they would wish they never had bought a Car – Note applying and managing to pass a claim from a private insurance company is such a pain in the ass that you would wish that you had not ever bought a car.You can read about the customer travails with companies like tata-aig,icici-lombard and others in various consumer websites.The measly amount of claim that they give you after a harrowing experience is not worth the pain of applying.I think that is the general strategy for these companies.Make the customer go to such pains that he does not claim any insurance.

5) Shortlisting the Insurance Company and Policy- After finding all these things out,I decided to buy a policy that I would never have to use unless in an extreme case like it getting stolen,destroyed or burnt.So I picked the cheapest company (Iffco Tokio) which had a quasi government connection as well.I went to its website www.iffcotokio.co.in and did not use the consumer aggregator,got the cheapest option (by making the highest possible deductible and leaving every frill).You can play around with different options to see the premium.This made my insurance premium approximately half of what it was earlier.I could have bought only 3rd party coverage ( which is mandatory by Indian law) which would have made it even cheaper but I decided to use the complete coverage so that I could use the policy in case of extreme cases.

Summary

Claiming Insurance in India from Private Insurance companies is a Harrowing Experience most of the times.The customer care employees are rude beyond measure while the marketing guys are like angels.While Insurance Companies are showing spectacular growth on the back of customers but their long term growth is a question.Government companies are the best bet as you can easily check from the success of insurance claims figures given by the Insurance Regulator (IRDA).If you decide on a private company,then try to pick up the cheapest policy possible which you do intent to use unless in a case of an extreme event.

India to Set up 2 Bodies NBEM,NCEM to promote Green Vehicles as Oil Prices Pinch

5 Apr, 2011

Electric Vehicles,Oil,Transportation

India had announced a policy to provide subsidies for purchases of Green Vehicles in the Budget session .With Oil Prices crossing $100 a barrel quite comfortably and not looking like coming back to 2 digits anytime soon,the government is going to set up 2 bodies to promote hybrid and electric vehicles.Note other governments like China,South Korea and USA have already provided massive subsidies,loans and regulations to promote both the manufacturers and the usage of Green Cars.Cabinet has already approved National Council for Electric Mobility (NCEM) and a junior body at the executive level, National Board for Electric Mobility (NBEM).India to Set up 2 Bodies NBEM,NCEM to promote Green Vehicles as Oil Prices Pinch

Note none of the Indian automakers has a decent EV or a Hybrid selling in the Indian market.Foreign markets on the other had are seeing fierce competition amongst major auto makers to gain a first mover advantage.GM,Nissan,Toyota are the leader in this market with other car makers also in the process of getting in.Hectic alliances and JVs are being forged as this market segment promises to be the fastest growing as the governments give massive subsidies and push.It remains to be seen whether the government in India can push given its record.

Govt to set up apex bodies on hybrid vehicles this week

The government will set up two high-level bodies this week to frame policies for promotion of hybrid and electric vehicles in the country, which depends largely on imports for its automobile fuel.Patel recently indicated that the government may provide an direct or indirect subsidy for the manufacture of green vehicles.At the NATRIP function, Sharma said it was time India took steps to develop and promote hybrid and electric vehicles as there is a need for alternative and emission-friendly initiatives.