Tuesday, November 18th, 2008
Maruti Suzuki is inching close to the one-million mark in Alto sales in India. Launched eight years ago, the Alto has displaced the 800 as Maruti’s no.1 bestseller in the domestic market.
Alto sales have actually picked up very fast over the last 24-30 months. While Maruti only sold around 500,000 units of the Alto within the first six years of the car’s launch, it has sold around the same number over the last two years.
Apart from sales in the domestic market, Maruti has also exported about 180,000 units of the Alto, to various European countries. In 2009, most parts of the world will get a brand-new Alto, which will be sold as the A-Star in the Indian market. The current Alto will continue its innings in the Indian market.
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Monday, November 17th, 2008
General Motors Corp. has announced that it will sell its 3% stake in Suzuki Motor Corp. back to Suzuki, for US$232 million, in a bid to raise cash. Suzuki will pay 1,363 yen per share to GM to buy back the 3.02% stake. GM had, back in March 2006, sold a 17.4% stake in Suzuki for around US$2 billion.
GM and Suzuki will, however, continue to work together in the area of automotive technology development. ‘We highly value our strategic relationship with Suzuki. This action will have no impact on our existing bilateral business relationships,’ said GM Chief Executive Officer, Rick Wagoner.
[via: indiaautomotive]
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Friday, November 14th, 2008
Hyundai Motor India has reached a landmark figure of two million cars, which the company has sold in India over the last 10 years. ‘Since its inception, Hyundai Motor India has always brought the best and the latest in automotive technology and design, backed by the best of warranty, competitive pricing and a huge sales and service support network.
This new record of producing two million cars will further empower Hyundai to play a vital role in the growth of the Indian automobile industry,’ said HS Lheem, MD, HMIL.
[Via: indiaautomotive]
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Thursday, October 23rd, 2008
India`s second largest two-wheeler maker - Bajaj Auto - on Thursday announced a 22.50% decline in its standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company fell to Rs 1,849.10 million from Rs 2,386 million in the same quarter, last year.
Total income for the quarter climbed 7.65% to Rs 25,705.30 million from Rs 23,877.70 million in the prior year period. Earnings per share stood at Rs 12.80 for the quarter ended September 2008. Shares of the company declined Rs 10.8, or 2%, to trade at Rs 530. The total volume of shares traded was 3,353 at the BSE.
[Via: myiris]
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Wednesday, October 15th, 2008
Tractors and Farm Equipment Ltd., is planning to invest up to US$20 million in Turkey, for setting up its first overseas greenfield facility, in the Manisa industrial zone in that country. The facility will have an initial capacity of producing 15,000 tractors (in the in the sub-100HP range) per annum. Turkey is said to be a key market for TAFE, and nearly 2,000 TAFE tractors are already in operation in that country.
TAFE’s new plant, which is expected to be operational by March next year, will contribute an estimated Rs 450 crore a year to TAFE’s topline. With its world-class infrastructure, the Manisa industrial zone will allow TAFE to leverage the local supplier base and easily accessible raw materials.
TAFE is India’s second-largest tractor manufacturer, with an annual production of nearly 80,000 tractors, which are sold under the TAFE and Massey Ferguson brands. The Chennai-based company was established in 1961 and during 2007-08, its gross turnover stood at Rs 3,488 crore.
[Via: indiaautomotive]
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Sunday, August 24th, 2008
In order to expand its business footprints in India, Japanese two-wheeler manufacturer Yamaha is eyeing to sell more than half a million bikes in 100 to 125 cc segments in 2009. The company is striving to add 80 more new dealers this year under its brand to compete with its strong competitors.
Yamaha is aiming to sell more than two lakh units this year, as compared to 1.20 lakh units last year. Commenting on the plans, Mr Tsutomu Mabuchi, CEO and Managing Director of Yamaha Motor India said, “Our fundamentals in the country are not as strong as our competitors. For the last one year, we are working to improve our fundamentals … which include setting up strong sales, services, dealership and spare parts network.”
Highlighting company’s performance in last one year, Mr. Mabuchi stated that due to restructuring and launch of new bikes, sales of Yamaha in the first six months of the year has turned around. The company also plans to roll out FZ , the air cooled bike in 150cc segment in October this year.
Posted in Manufacturers, Yamaha | No Comments »
Saturday, August 23rd, 2008
Chevrolet Cruze has been developed not by GM’s designers and engineers in North America, but by its European and Asia Pacific teams. It will debut at the Paris Motor Show in October and go on sale in Europe and Asia next year. About a year after that the Cruze will go on sale in the U.S., and that version will be built at GM’s plant in Lordstown, OH.
GM CEO Rick Wagoner was at the plant today to announce a $500 million investment in its U.S. operations to build the Cruze here, with more than $350 million earmarked for the Lordstown plant where the current Chevy Cobalt and Pontiac G5 are built.
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Wednesday, May 7th, 2008
Nissan Motor Co., Ltd., announced today that cumulative sales of the Tiida compact car (North American name: Versa), topped one million in March 2008. This milestone comes just three and a half years after the Tiida was launched on September 30, 2004.
The Tiida was initially launched in the Japanese market in September 2004, followed by a rollout to the general overseas markets including China in 2005 with subsequent launches in North America and Europe in 2006 and 2007 respectively. The Tiida has garnered high ratings due to its spacious and modern interior, impressive driving performance and high fuel efficiency which surpasses other vehicles in its class.
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