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Archive for July 11th, 2007
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Competent Automobiles board to recommend dividend
Published July 11th, 2007 in Uncategorized. 0 Comments. More
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Tata Motors has 21 profit-making subsidiaries out of a total of 30 in India and abroad. These contributed to Rs 64.54 billion revenues in the last fiscal, out of the total consolidated revenue of nearly Rs 370 billion. More
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Car sales rise in India:Sources
Published July 11th, 2007 in Honda India and Maruti Udyog. 17 CommentsMotorcycle sales fell 17.2 percent to 437,776 weighed down by higher interest rates. Domestic car sales rose to 94,002 units in June from 80,784 in the same month a year earlier, the Society of Indian Automobile Manufacturers (SIAM) said in a statement. “Passenger car segment performance was relatively strong as Maruti and Honda launched new models recently,” Morgan Stanley analyst Balaji Jayaraman said in a research note. More
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Vehicle makers are expected to report mostly lower quarterly profits after high commodity prices and fierce competition pressured margins, while firm interest rates dampened sales.
Demand could pick up later in the year on the back of the festival season and a fast-growing economy, expected to expand nearly 9 per cent in the fiscal year ending in March 2008.
“Volume growth has perceptibly weakened on the back of short-term concerns like higher interest rates and tighter financing norms,” Amit Kasat at brokerage Motilal Oswal said.
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Car sales cruise, bumpy ride for bikes
Published July 11th, 2007 in Maruti Udyog, Bikes, Bajaj auto and Tvs motor. 21 CommentsDomestic passenger car and bike sales during the month of June headed in opposite directions with the former managing to beat hardening interest rates blues with a 16.36 per cent growth but motorcycle sales skidded by 17.17 per cent.
According to figures released by Society of Indian Automobile Manufacturers (SIAM), of the 13 car makers, 10 registered positive growth led by country’s biggest car maker Maruti Udyog Ltd.
On the other hand, top three bike makers of the country - Hero Honda, Bajaj Auto Ltd and TVS Motor Co - posted a year-on-year decline in sales during the month mainly on account of the impact of rising interest rates. More
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Ceat Tyres, an RPG Group company, will set up two new plants at an investment of Rs 700 crore of which one will be for manufacturing all types of radial tyres.
“We plan to set up two plants, one of them in Maharashtra, while we have yet to decide on the location of the second,” RPG Enterprises Chairman Harsh Goenka said here on Wednesday.
The company was evaluating land purchase in five locations, including Ambernath and Patalganga for the Maharashtra plant. Read more
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India could become global hub for developing small cars: Study
Published July 11th, 2007 in Research/Surveys. 22 Comments“Can India do for the automobile industry what it had done for the telecom revolution?”. This is what IBM and the University of Michigan have focussed in their new study titled ‘ Inside India — Indians view their automotive future’.
Releasing the findings of the study, Mr Rajesh Nambiar, Vice-President and General Manager, Global Delivery, IBM India, and Mr Sanjay Rishi, Global Automotive Industry, Global Business Services, IBM, said that if India is to meet the demands of the global automotive industry and evolve into a destination for automotive production and sales, it must have better transportation infrastructure, improved product quality, more skilled workers, changes in labour and tax regulations and an increase in the scale of exports of automotive companies.
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