its plans of investing Rs 3,000 crore in the current financial year despite economic slowdown.
Homegrown auto major M&M remained committed to jointly invest USD 900 million (nearly Rs 4,927 crore) with its South Korean subsidiary SsangYong Motor Company to develop products over the next four years.
It also announced a multi-structured deal to pick up 13.5 per cent stake in Spain's auto component maker CIE Automotive for 96.24 million euros (nearly Rs 740 crore).
Towards the end of the year, Tatas-owned Jaguar Land Rover announced to invest 240 million pounds to set up a manufacturing facility in Brazil, a move aimed at expanding its global footprint.
For American car major General Motors, it was a year to forget with its Indian arm recalling 1.4 lakh units of its MPV Tavera in July, the largest ever recall in India.
Moreover, General Motors India had to face probe by government over alleged violation of emission norms. The company had sacked "several employees" in relation to the incident but did not disclose the exact number.
As far as vehicle recall was concerned, Ford India recalled 972 units of the diesel variants of its newly launched EcoSport to rectify the engine problem.
Earlier in the year, Toyota recalled a select lot of its premium sedan Corolla, made between January-June 2003 and sold in India as part of a global recall of 17.3 lakh vehicles to rectify defective airbags.
Maruti Suzuki India (MSI) also recalled 1,492 units of Ertiga, Swift, Dzire and A-Star models produced in October this year to rectify a possible problem with steering column.
At the end of the year, Mahindra recalled 900 units of a variant of its popular sports utility vehicle Scorpio, manufactured between October and November this year, to rectify faulty pressure valve.
The struggle for automobile companies was further enhanced as rising input costs affected their profitability, which forced them to hike prices. Different car makers started 2013 with price increase in January and it was an act that was followed up in subsequent months of April and October.
Towards the end of the year, amid declining sales the companies came up with the annual ritual