Auto Sector

Chevrolet Spark and Tavera helped GM India to grow at 64% in September

Chevrolet Spark GM India
General Motors India has reported a 64 % rise in its domestic vehicle sales during the month o0f September. The company was able to sell more cars as it focused on customer requirements and offered wide range catering to different segments.

Auto Sector Overwhelmed With Rate, Cost Woes, Says Tata Motors

Tata Motors
Mumbai: Tata Motors has stated that it is really a challenging situation for the Indian automobile business as it is overwhelmed with soaring interest rates and consistently high input cost, with a rising rupee value adding to the woes.

Ford launches a new model in India

Chennai, Sept. 26 : Premium carmaker Ford launched the Ford Fiesta1.6 Fida in Chennai on Tuesday.

The new edition with a 1.6 litre duratec engine is available in new copper rust and panther black.

The car is priced at 6.6 lakhs.

Scoot Mcormack, Vice President (Marketing), Ford India, put the sales figures for the earlier version at 55,000, and said he expected good demand during the forthcoming festive season.

Suzuki Motorcycles Towards Expansion Mode

Suzuki Motorcycles India
Mumbai: A top functionary said that Suzuki Motorcycle India Pvt Ltd (SMIL), a subsidiary of Japanese two-wheeler major Suzuki Motor Corporation, has decided to invest Rs 150 crore to swell capacity and fortify its dealership network.

Auto Sales declined in August 2007: SAIM

Society of Indian Automobile ManufacturersSociety of Indian Automobile Manufacturers (SAIM) has reported a decline of 5.4% in two wheeler motorcycle sales for the month of August. The markets were under pressure with lower sales for commercial vehicles and three-wheelers as well.

Analysts expect the markets to perform better in the coming quarters. Many companies are ready to launch new technologies. TVS has recently launched a new bike. In the month of August, 5,43,504 motorcycles were sold.

Lucas-TVS Plans Expansion

Lucas-TVS Ltd.
New Delhi: Auto component maker Lucas-TVS will invest up to Rs. 400 crore by next two-three years in order to swell capability and product growth. It is also planning to establish new constructing units in Indonesia and Thailand.

Arvind Balaji, Lucas-TVS Vice- President, said, “We will invest up to Rs. 400 crore over the next two-three years in R&D, manufacturing and capacity building.”

Maruti Will Not React To Another Company’s Plan - Khattar

Maruti Suzuki
New Delhi: Auto market head Maruti Suzuki thinks that the Rs 1-lakh car projected by Tata Motors is more a threat to two-wheeler makers than car manufacturers.

While addressing stockholders at its yearly general meeting, the company emphasized that a broader product range and new investments will push Maruti’s enlargement in Indian market.

Volvo Rolls Out 6 Sedan, SUV Versions in Indian Markets

New Delhi: Volvo Car CorporationAfter the entry of various luxury car manufacturers such as BMW and Volkswagen, Swedish car major Volvo Car Corporation forayed into the Indian car market with six variants of its two flagship products, the S80 sedan and SUV XC90, at starting prices of Rs. 38 lakh and Rs. 52 lakh correspondingly.

The company has launched two petrol (3.2 litre and 4.4 litre) and one diesel (2.5 litre) versions of both models.

Paul de Voijs, Managing Director, Volvo Car India said, “India is an exciting market and the luxury car segment is growing exponentially here. Now is the perfect moment for us to enter the market.”

Maruti To Invest Rs 90 Bn By Next 3 Yrs

Maruti Suzuki
Maruti Udyog, India`s biggest car manufacturer, is planning to invest Rs 90 billion in its new plants; up-gradation of its Gurgaon facility; and on new series engines for its cars.

The company is coming up with a new car facility and diesel plant at Manesar.

Maruti intends to export its next high volume car targeted at tile European market from India.

Bajaj Auto to take Legal Action Against TVS on Patent Infringement

Mumbai/New Delhi:Bajaj Pulsar 220cc Bajaj Auto plans to take legal action against TVS Motors for infringing its patented technology.
Bajaj Auto has accused TVS of copying its intellectual property right by making use of its Digital Twin Spark Ignition (DTSi) technology in recent TVS models including the 125 cc bike, which was launched earlier this week.

The two-wheeler major, Bajaj Auto states that the DTSi technology was cross-filed in July 2002 under the patent number 195904. It tells it utilizes the technology on all its motorcycle models including the Discover and the Pulsar and plans to use it on its upcoming bike called the Exceed.

Bajaj Motorcycle August Sales Down 7%

Bajaj Discover
New Delhi: Bajaj Auto, India’s second largest two-wheeler manufacturer has reported a seven per cent fall in its motorcycle sales (including exports) in August, which stood at 1,67,483 units as against 1,80,570 units in the corresponding period of the last year (August 2006).

The company said, “The growth of 100 cc motorcycles was registered due to product fatigue as which continued to weigh down the entire industry.”

Satyam Sets up Research & Development Centre for Auto Sector

Satyam Computer Services LtdChennai: In order to carry out research & development (R&D) for the automotive segment, Satyam Comuters Services Ltd has set up a Centre of Excellence in Chennai.

Ashok Leyland to Open More Service Centres in Andhra Pradesh

Ashok Leyland Ltd.Vijayawada: Truck and heavy vehicle manufacturer, Ashok Leyland stated it will establish eight more automotive service centres in Andhra Pradesh.

Vinod K Dasari, Chief Operating Officer, Ashok Leyland said the company instigated its 200th automotive centre at Kodada in Nalgonda zone today to provide superior services to its clients.

Bajaj Auto to shift production from Pune to Aurangabad

Bajaj Auto Ltd.Bajaj Auto has announced that the company will stop production of two-wheelers at its Akurdi Plant in Pune from September 1. The production facilities will be shifted to Aurangabad Plant of the company.

ICML Plans Global SUV, To Invest Rs 800 Cr By 2010

Ambala: Presently Sonalika group’s International Cars and Motors (ICML) is working on a sports utility vehicle (SUV) model for which it has joined hands with an international design house and will invest Rs 800 crore by 2010 for expanding overall capacity.

Deepak Mittal, MD, ICML stated, “All we can say is that we have tied up with a global design house to produce a global SUV model, which would be sold around the world. The project may take over three years.”

ICML is the newest participant to the Indian MUV market and had recently instigated its flagship vehicle ‘Rhino Rx’.

Ashok Leyland Plans to broaden its Ashley Transport Services

Ashok Leyland Ltd.Chennai: Ashok Leyland, the Hinduja Group's flagship company and biggest truck financing company Shriram Transport Finance Company have signed up a strategic affiliation contract to regenerate the services by its group company Ashley Transport Services.

Ford To Sell Volvo, Reports

Ford Motor Co.Dearborn, Mich. - Ford Motor Co. is setting to sell its moneymaking Volvo luxury brand as it works to return its North American operations to profitability, according to reports.

The Sunday Times reported, the decision to sell Volvo, a part of Ford’s Premier Automotive Group, was made in the past two weeks, but that the timings of the sale had still to be decided,

Jay Bharat Maruti Up On Strong Q1 Numbers

In early tradingJay Bharat Maruti (10:22 am), Jay Bharat Maruti is quoting at Rs 48, which showed an advancement of Rs 5.10 or 11.89%. The scrip has touched an intraday high of Rs 48.75 and an intraday low of Rs 42.90.

The company reported a net profit of Rs 15 crore (Rs 150 million) as against Rs 6.5 crore (Rs 65 million) in the same period of the last year. The quarterly result of the company showed an increase of 131%.

Today, it is trading with volumes of 11,655 shares as compared to its five-day average of 2,735 shares, an increase of 326.20%.

Yesterday the share gained 2.02% before closing.

M&M Readies To Pass Through The Highway To Sensex

lifted 2.44%Mahindra & Mahindra to Rs 765 in afternoon trades on improved buying earlier than its entry into the BSE Sensex from 9 July 2007.

The scrip hit an intraday high of Rs 766 and an intraday low of Rs 747 during the day. On 16 January 2007, it touched a 52-week high of Rs 1002 and a 52-week low of Rs 495.10 on 24 July 2006.

As against the Sensex’ return of 2.38%, the Mahindra & Mahindra (M&M) stock slumped 0.81% over the last one month to 4 July 2007. The scrip had underperformed the market over the past quarter, benefiting 4.65% compared to the Sensex’s rise of 15.74%.

Bajaj Auto Loses on Lack of Activity

Bajaj AutoAfter turning ex-dividend, Bajaj Auto lost 1.61% to Rs 2,095 in afternoon trading. The company announced a dividend of RS 40 a share of face value Rs 10 in May 2007.

During the day, the scrip touched an intraday high of Rs 2,133, and an intraday low of Rs 2,088. There were 37,418 shares on the counter. It had an average daily volume of 1.20 lakh shares on BSE in the last one quarter.

At the existing price of Rs 2,095, the scrip trades at a PE multiple of 17.13, which is based on year ended March 2007 earning per share of Rs 122.27.

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