Saturday, November 1st, 2008
For the quarter ended 30th September 2008, ONGC has reported a 6% drop in its net profit, and a 13% increase in sales revenue over the corresponding period last year. Apart from the surge in global crude prices and weakening of the Rupee, ONGC’s performance also suffered from the excessive subsidy burden that it had to shoulder, to partially cushion the impact of revenue loss suffered by public sector oil marketing companies.
ONGC gives discounts to oil PSUs on crude sale and the subsidy discount increased more than three times during the quarter, to Rs 12,663 crore. ‘But for the discounts, ONGC’s net profit would have been higher by Rs 7,066 crore,’ says RS Sharma, Chairman and Managing Director, ONGC. ‘I am in a dilemma when addressing the issue of subsidy to investors. As per my understanding, there has been no subsidy sharing mechanism followed for the second quarter. The ad hoc subsidy sharing mechanism has to be done away with,’ he added.
[Via: indiaautomotive]
Posted in Uncategorized | No Comments »
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]
Posted in Uncategorized | No Comments »
Thursday, October 16th, 2008
Kia Motors Corporation announced today that its global sales (export sales, domestic sales and sales from overseas plants) of passenger cars, recreation vehicles (RVs) and commercial vehicles in September 2008 recorded 110,431, representing a 2.7% year-on-year increase.
By region, Kia posted year-on-year sales increases in general markets (25,851 units sold, a 45.7% year-on-year increase), Korea (24,322 units sold, a 19.5% year-on-year increase) and China (11,012 units, a 10.9% year-on-year increase). Meanwhile, in Europe and North America, 28,091 (a 12.4% year-on-year decrease) and 21,155 (a 22.8% year-on-year decrease) Kia vehicles were sold in September, respectively.
Cumulatively, through the first nine months of 2008, Kia’s global sales increased by 14.4% year-on-year and reached 1,062,379 units. China (112,502 units sold) and general markets (193,773 units sold) have experienced the largest gains of 38.1%, and 37.0%, respectively. Cumulative year-on-year sales increases have also been experienced in Korea (a 16.3% gain from 229,171 units sold) and Europe (a 7.8% gain from 268,595 units sold), while North America demonstrated a slight decrease (0.4% decrease from 258,338 units sold).
So far in 2008, Kia’s best selling model in overseas markets has been the C-segment Cerato (known as ‘Spectra’ in some markets) with 154,929 units sold. It is followed by a close group of three vehicles: the B-segment Rio at 121,896 units, the C-segment cee’d at 116,097 units and Kia’s Sportage compact SUV at 111,870 units. The A-segment Picanto rounds out the group with 74,915 units sold.
[Via: autoincar]
Posted in Manufacturers | No Comments »
Saturday, October 11th, 2008
Ashok Leyland saw sales of its commercial vehicles slide down to 6,186 units in September 2008, compared to 7,241 units sold in September 2007 - a decline of 14.57%. Burdened with unsold stock during the last few months, ALL cut down its production to 4,873 units in September, down from 6,546 units in September last year. During the first six months of this fiscal, ALL manufactured 41,233 units and sold 35,632 units. The company logged a 53% growth in exports in September, at 732 units, against 480 units in the year-ago period.
[Via: indiaautomotive]
Posted in Uncategorized | No Comments »
Friday, October 3rd, 2008
Hyundai Motor Manufacturing Alabama made fewer Sonatas and fewer Santa Fe sport utility vehicles at its Montgomery plant in Sept.
The plant produced 13,437 Sonatas in September compared to 14,729 in August, while production of the Santa Fe dropped to 6,082 in Sept. from 6,348 in Aug.
The Korean-based company made a total of 22,350 cars at its North American plants, which includes the Alabama factory, in September, which was the same amount manufactured in August.
Posted in Hyundai | No Comments »
Thursday, October 2nd, 2008
Hero Honda has reported a 22.47% jump in sales in September this year, at 385,262 units, as against 314,567 units in the same month last year.
CBZ Xtreme ATFT
The company said its cumulative sales for the April-September period this year stood at 1,866,349 units, as against 1,559,486 units in the corresponding period last year, reflecting a 19.68% growth.
[Via: Indiaautomotive]
Posted in Uncategorized | No Comments »
Thursday, October 2nd, 2008
Skoda India has recorded a 34.8% growth in sales in September 2008. The company sold 1,213 units in September 2008, against 900 units it sold in the same period last year.
The Fabia hatchback, 486 units of which were sold in September, is said to have contributed significantly to this spurt in Skoda’s sales in India. The company aims to sell 20,000 cars by in this calendar year, up from the 13,000 units it sold last year.
[Via: indiaautomotive]
Posted in Skoda | No Comments »
Thursday, September 18th, 2008
The Japanese car maker, Honda Siel Cars India, is expecting a boost in sales in the festive season. It is all geared up for the upcoming pre and post Diwali festival in India. The new Honda Accord is averaging nearly 500 units a month as compared to earlier 250 to 300 units.
“On the back of our new launches we are hoping that sales will pick in the upcoming festival season,” Honda Siel Cars India Vice President (Marketing) Jnaneswar Sen told PTI on the sidelines of the SIAM Annual Convention 2008. “Our 2 litre sports utility vehicle (SUV) CRV is also doing well. We have already sold about 60 units of our Civic Hybrid also,” he added.
Honda also plans to launch the new and upgraded version of Honda City this year but any price indications for the same remain unannounced. The current version caters to the entry level sedan segment but the new model shall address the premium sedan customers.
Honda shall also launch its most awaited small car in India in 2009. It is working on a special model for India based on its Jazz model. It plans to expand its market share in the country which marks nearly two-third of small car sales out of total car sales.
[Via: Cartradeindia]
Posted in Honda | No Comments »
Tuesday, September 16th, 2008
More 2009 Honda City Pictures….
[Via: Paultan]
Posted in Honda | No Comments »
Thursday, September 11th, 2008
Yamaha module start a newborn cycle titled FZ 16 on Sat (September 13). 16 FZ Street Fighter a Yamaha bike, the cycle was displayed as FZ 150cc to the Auto Expo. Designed to excrete sexuality and make iconic FZ 1000, the FZ 16 is primed to sway the 150cc segment.
If R15 is the player the FZ 16 would be a wrestler. It May not to vie broad technologies, but the Chunky wear and maximal strikingness 140-60-R17 tyres provide you the ultimate. The carburetted, air-cooled engine is due to have the 15PS gallops and torque. This engine is said to center to low-end. A digital speedo and similarity tach module hands the FZ 16 of
character.
To encourage cycling case of the street, Yamaha module start the FZ 16 in the municipality beach - Goa. The FZ 16 is due to toll between Rs 65000 to Rs 70000
[Via: autos.nits]
Posted in Manufacturers, Yamaha | No Comments »
