Archive for June 7th, 2007
May car sales up 9%, motorcycles down by over 16%
Published June 7th, 2007 in Research/Surveys. 0 CommentsAccording to figures released by Society of Indian Automobile Manufacturers (SIAM) here, domestic motorcycle sales during the month were at 4,77,901 units as against 5,71,367 units in May 2006, down by 16.36 per cent. More
Daimler: No plans to manufacture trucks in India
Published June 7th, 2007 in DaimlerChrysler India. 0 CommentsCourtesy:economictimes.indiatimes.com
Auto component makers fight hard in a harsh market
Published June 7th, 2007 in Research/Surveys. 0 CommentsThe market for vehicles in India was growing strong; so were exports. But then the slide began. RBI started raising bank rates to curb growing inflation and consumer spending took a big hit. Vehicle sales started declining. In a cut-throat market, car and bike makers negotiate prices hard to the extent that many purchase agreements include clauses that require a year-on-year price reduction for the components supplied. More, they work on a ‘just in time’ sourcing strategy. “Signs of a possible slowdown are a cause of great concern for the industry,” says Vishnu Mathur, executive director of the Auto Component Manufacturers Association (ACMA).
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Courtesy:economictimes.indiatimes.com
Eicher Motors, the tractor, trucks and buses manufacturer and engineering solution and management consultancy provider, will launch two different models based on separate platforms.
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Courtesy:www.indiacar.net
Result Analysis: Punjab Tractors net decreases 17% in Mar`07 qtr
Published June 7th, 2007 in Research/Surveys. 0 CommentsPunjab Tractors announced a sharp drop of 17.4% in net profit for the quarter ended March 2007. During the quarter, the company experienced fall in profits to Rs 173.80 million from Rs 210.40 million.
Adjusted for extraordinary income, the company`s profit fell 37.53% to Rs 131.43 million compared with the corresponding quarter, a year ago. More
Courtesy:www.indiacar.net
VST Tillers Tractors, with reference to a news item appearing in a leading financial daily titled `VST Tillers shoots up on expansion buzz`, clarified that the company is exploring the possibility of a joint venture with Mitsubishi for manufacturing a range of engines. More
Courtesy:www.indiacar.net
Ford grabs most awards in 2007 quality rankings
Published June 7th, 2007 in Ford India and Toyota India. 0 CommentsFord Motor Co replaced Toyota as leader of the pack in JD Power and Associates’ annual initial quality rankings grabbing, more individual awards than any other automaker for the first time since 1998, when it tied for the top spot. More
Courtesy:economictimes.indiatimes.com
Decline in sales forces Tata Motors to cut production of CV
Published June 7th, 2007 in Tata Motors. 0 CommentsCountry’s largest commercial vehicles manufacturer Tata Motors is cutting down production with sales being hit, specially in the heavy and medium commercial vehicles segment (M&HCV), due to heightened interest rates.
“Yes, adjustments are being made at Tata Motors’ commercial vehicles production in line with market dynamics due to impact of the high interest rate regime on retail sales,” a company spokesperson said.
Asked about the quantity of cut in production, the spokesperson declined to give an exact number stating that “it is not in public domain”. More
Courtesy:www.indiacar.net
