Stock in Maruti Suzuki India Ltd (MSIL) slipped further in early morning trade on Tuesday as concerns over the company's plan to source cars from Gujarat plant continued to hound investors.
Maruti Suzuki shares slipped as much as 2 per cent in morning session on Tuesday. As of 09.25 a. m., the stock was trading at a loss of 1.4 per cent at Rs 1,560 apiece. Maruti Suzuki was the top loser on Nifty.
The stock is on track for a fifth day of losses in a row as the company has failed to allay investors' concerns over Gujarat plant.
India's leading car manufacturers Maruti Suzuki India Ltd (MSIL) and Hyundai Motor India Ltd (HMIL) enjoyed considerable jumps in their sales in February, thanks to price cuts that followed excise duty cuts announced in the Interim Budget.
Maruti Suzuki, which had suffered a decline of 6.3 per cent in domestic sales in January, saw an increase of 1.8 per cent in sales to 99,758 units in February this year as against 97,955 units in February last year.
Mumbai, Mar 1 : Automobile major Tata Motors Saturday reported a decline of 35.56 percent on its total sales including exports in February 2014.
The automobile manufacturer managed to sell 39,951 units last months from an off-take of 61,998 units in the corresponding month of 2013.
The company’s domestic sales including commercial and passenger vehicles in the month under review too decline. The off-take fell by 39.11 percent at 35,315 units from 58,002 units sales in January 2013.
New Delhi, March 1 : Automobile manufacturer Mahindra and Mahindra Saturday reported a decline of 12 percent in its overall sales, including exports, in February, which stood at 42,166 units from at 47,824 units in the corresponding month of last year.
Domestic sales stood at 39,338 units during last month, as against 44,399 units during February 2013, a decline of 11 percent.
The company's exports during the month under review fell by 17 percent at 2,828 units from 3,425 units being shipped-off in the corresponding period 2013.
Chennai, March 1 : Automobile manufacturer Hyundai Motor Saturday reported a 14.9 percent fall in its sales in February at 46,505 units from 54,665 units in the like period of 2013.
"Post the reduction in excise duty, enquiry inflow has increased with February sales of 34,005 units with a growth of two percent over the earlier month and it is expected that this would lead towards creation of a positive momentum," said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor India.
In a statement, the company said its domestic sales during the month under review stood at 34,005 up from 34,002 units sold in February 2013.
Stock in Maruti Suzuki India Limited (MSIL) slipped more nearly 5 per cent on the Bombay Stock Exchange (BSE) on Friday as the company failed to assuage investors' concerns over its Gujarat plan.
In January this year, Maruti had announced an arrangement with Japan-based Suzuki Motor Corp's under which the Indian company would procure cars from to be manufactured at the Gujarat plant. The Japanese parent firm said it would invest US$488 million (nearly Rs 3,050 crore) in the plant.
Chennai, March 1 : Two and three wheeler maker TVS Motor Company Saturday said it closed last month with a seven percent increase in total sales as compared to sales logged in February 2013.
In a statement the company said it has logged total sales of 177,762 units in february, up form 165,696 units sold in the same month 2013.
Sales of two wheelers increased six percent last month to 170,293 units from 160,895 units in February 2013.
Last month the company sold 7,375 three wheelers as against 4,801 units sold in February 2013.(IANS)
New Delhi, March 1 : India's largest passenger car manufacturer Maruti Suzuki Saturday reported a .40 percent decline in total sales including exports for February, which stood at 109,104 units due to a fall in exports.
The company had sold 109,567 units in February 2013.
There was a sharp drop in the company's exports. Maruti Suzuki exported just 9,346 units last month, which was 19.50 percent less than 11,612 units sold overseas during the corresponding month of 2013.
Chennai, March 1 - Japanese-Indian car joint venture Toyota Kirloskar Motor Saturday said it closed last month with a total sales of 11,284 units down from 13,979 units sold in February 2013.
In a statement, the company said it sold 10,100 units last month in the domestic market as compared to 12,756 units sold in February 2013.
New Delhi, Feb 28 : General Motors Friday appointed Arvind Saxena as its president and managing director for India operations with effect from March 1 next.
According to the company, Saxena will succeed incumbent Lowell Paddock, who is moving to GM International Operations (GMIO) as vice president, planning and programme management.
“GM is committed to India and with Arvind’s leadership, we look forward to recognizing the long-term growth potential of the market,” said Stefan Jacoby, president, GM International Operations.
Bangalore has become India's first city to receive an electric zero-emission bus. Transport Minister Ramalinga Reddy launched the environment-friendly Rs2.7-crore bus in the city on Thursday.
Mr. Reddy acknowledged that the electric bus is very expensive, but he stressed that it would likely prove to be a good deal in the long-term. He expressed hope that price of electric buses would likely come down in the future.
New Delhi, Feb 27 : Industrial conglomerate Mahindra and Mahindra Thursday rolled out its electric vehicle e2o in Bhutan.
The launch followed a Memorandum of Understanding (MoU) that it entered with government of Bhutan.
"With the Mahindra e2o we are taking the lead in not only creating a comprehensive ecosystem to nurture sustainable mobility solutions, but also partnering Bhutan to redefine the future of urban mobility," said Pawan Goenka, executive director and president, automotive and farm equipment sectors, Mahindra and Mahindra.(IANS)
Most customers of Maruti Suzuki India Ltd's recently launched Celerio hatchback are opting for the expensive automatic variant, dropping a strong hint that Indians are ready to pay more for effortless drive.
As per available figures, Maruti Suzuki has received nearly 20,000 booking-orders for the Celerio hatchback within the first twenty days of its launch. It means the manufacturer has been receiving 1,000 booking orders, on average, per day for the new hatchback.
Arvind Saxena, managing director of Volkswagen India, is reportedly all-set to leave the German vehicle maker and join General Motors (GM) India as the new chief executive officer.
Mr. Saxena will replace GM India's outgoing managing director Lowell Paddock. GM Indian decided to move out its Paddock midway through his term months after a government-appointed committee accused him of a corporate fraud.
A company executive, with direct knowledge of the matter, said Paddock would be shifted to GM's International Office at Singapore.
New Delhi, Feb 27 : India's largest automobile company Tata Motors is exploring the possibility of setting up a manufacturing plant for Jaguar and Land Rover in Saudi Arabia, the Gulf kingdom's industry minister said Thursday.
Addressing an India-Saudi Arabia Business Forum meeting here, Saudi Arabia Commerce and Industry Minister Tawfig Fawzan Alrabiah said the proposed plant would be the third largest for manufacturing of high-end Jaguar and Land Rover cars.
The minister said the plant is proposed to be set up eastern province of Saudi Arabia.
London, Feb 27 : Hold your breath! French car maker Peugeot is all set to sell the first air-powered hybrid car from next year.
With new `Hybrid Air' engine system - the first to combine petrol with compressed air - the firm says the car could reduce petrol bills by 80 percent when driven in cities.
"Air power would be used solely for city driving, automatically activated below 43mph," said Peugeot in a press release.
The system combines a gasoline engine with an air engine which is used at speeds under 70mph.
This enables it to run on petrol or air, or a combination of both.
Washington, Feb 25 : Hyundai has recently announced plans to begin leasing a new vehicle this spring, which will be powered by processed sewage.
Last fall, Tesla's Elon Musk was calling hydrogen fuel cell technology for vehicles "bullsh*t." He meant that as an insult, saying it's a dangerous gas more suitable for rockets than for cars. But it's almost literally true.
In a few weeks Hyundai will begin leasing a new Tucson Fuel Cell crossover vehicle that runs on hydrogen gas derived from excrement, Discovery News reported.
New Delhi, Feb 22 : General Motors India Saturday launched a new variant of its Sail hatchback and sedan.
The new hatchback is priced between Rs. 4.21 lakh and Rs. 6.54 lakh, while the sedan is priced at Rs. 5.07-7.45 lakh (ex-showroom, Delhi).
"By offering bold new feature additions at no additional cost, we are confident that the two carlines will be even more appreciated by our esteemed customers," said Rajesh Singh, vice president, sales, marketing and after sales, General Motors India.
Following footsteps of other car manufacturers, Tata Motors and Ford India also slashed prices across models.
Tata Motors on Friday slashed prices by Rs 6,300 to Rs 1.5 lakh across its range of vehicles. While prices for the passenger cars were slashed by Rs 6,300 to Rs 69,000 depending on the model, prices of commercial vehicles were dragged down by Rs 15,000 to Rs 150,000.
General Motors India has slashed prices of its various models by up to Rs 49,000, thanks to the excise duty cuts announced by Finance Minister P Chidambaram in the interim budget for FY2014-15.
P Balendran, Vice-President of GM India, said the company reduced prices across models by Rs 12,000 to Rs 49,000.
GM India sells hatchbacks Spark, Sail, sedan Sail U-VA, premium sedan Cruze, multi-utility vehicles Tavera, Enjoy and premium sports utility vehicle Captiva.
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