The drop of 862 basis points in operating margin and sluggish sales growth pushed earnings of the company lower. More
Courtesy:www.indiacar.net
Archive for July 29th, 2007
Punjab Tractors Q1 net drops 81.36% on higher cost of operations
Published July 29th, 2007 in Punjab Tractors. 0 CommentsThe joint venture plan is a result of an agreement signed earlier this year between Tata Motors (Q, N,C,F)* and Iveco as part of overall collaboration agreement with the Fiat group . More
Courtesy:www.indiacar.net
Tata Motors seen as front runner for Ford’s Rover, Jaguar
Published July 29th, 2007 in Ford India, Tata Motors and Mahendra&Mahendra. 0 CommentsThere was an expectation that Ford might announce the sale of these brands along with the second quarter results.
Apart from Tata Motors, the other Indian auto major Mahindra & Mahindra is also said to be among the shortlisted bidders for the luxury brands. Private equity players Cerebrus and Ripplewood Holdings are also believed to be in the race for the two brands. More
Courtesy:www.indiacar.net
Courtesy:economictimes.indiatimes.com
Adayana Inc, a learning services company, will launch a range of its workforce development initiatives to help address critical skills shortage faced by several industries in India.
The Minneapolis, US-headquartered company with operations in Hyderabad, has partnered the Society of Indian Automobile Manufacturers (SIAM) to train around 1.5 lakh workers every year for employability in the automotive sector.
“We have identified around 15 job categories in the automotive sector. To start with, we will be launching a pilot programme with around 2,000 workers across the country from September 5 to January 10 in the service technician-I category,” Rajiv Tandon, chief executive officer of Adayana, told mediapersons here on Thursday. More
Courtesy:www.indiacar.net
Global rating agency Fitch on Thursday said increasing default rate has weakened two-wheeler financing even as there is an improvement in business of commercial vehicle financing in the country.
In the two-wheeler financing segment, nearly six per cent of customers have not paid their instalment for past six months. Earlier, the default in the segment was 3.6 per cent.
However, default rate in commercial vehicles segment lowered to less than 1.5 per cent as compared to 1.7 per cent last year. More
Courtesy:economictimes.indiatimes.com
MRF Ltd has reported a 420 per cent rise in its net profit at Rs 42.50 crore for the third quarter ended June 2007, compared with Rs 8.17 crore posted during the corresponding quarter of the previous year.
The lower net profit during last year was due to unusual rubber prices that were ruling at over Rs 100 a kg compared with Rs 70-80 a kg during the quarter under review. MRF also raised prices of its products in April.
Senior officials of the company told Business Line that they are concerned over several factors that may negatively impact the company during the current quarter. More
Courtesy:www.indiacar.net
Bajaj, Renault confirm talks for small car
Published July 29th, 2007 in Bajaj auto and Renault. 0 CommentsHome grown two-wheeler major, Bajaj Auto and French auto biggie Renault confirmed on Saturday that they are engaged in “preliminary deliberations” to mutually understand customer requirements for “very competitive vehicles” in India.
If concluded favourably, this could lead to a long-term partnership between Renault and Bajaj Auto for the development of the business so conceived, said a joint statement issued by both companies.
This confirmation comes at the back of reports published by ET on July 13 of ongoing mutual deliberations between both companies to conceptualise and produce competitive vehicles, including a $3000 small car, in India. More
Courtesy:economictimes.indiatimes.com
Yen’s depreciation against the rupee and a rash of successful new launches boosted Japanese auto giant Maruti Suzuki’s first quarter results for the current fiscal. The car market leader’s net profit was up 35% to Rs 500 crore for the quarter ended June 30, 2007 compared with Rs 369 crore in the corresponding period last year. Net sales rose 25.6% to Rs 3,913 crore from Rs 3,114 crore in the year ago period.
Analysts said yen’s depreciation helped the company cut costs through cheaper import of raw material. “Currency fluctuations with yen depreciating against the rupee made some raw material imports cheaper. Similarly, the dollar’s depreciation against the rupee also contributed favourably to the company’s margins. In addition, prices of raw material like aluminium had a positive impact on the company’s results,” said Amit Kasat, senior analyst, Motilal Oswal Securities. More
Courtesy:www.indiacar.net
Tata, Renault’s small cars may not be that cheap
Published July 29th, 2007 in Tata Motors and Renault. 0 CommentsUltra low-cost cars - be it Tata’s Rs one lakh project or Renault’s $3,000 venture - may have caught the imagination of many, but customers may end up paying much more than they think they would.
While ever-increasing input costs are putting tremendous pressure on Tata Motors to keep its word on pricing, French carmaker Renault’s ability to maintain the price at its stated range would largely depend on which Indian partner it chooses.
Vendors for the Tata Motors venture said on the condition of anonymity their agreement for the Rs one lakh car has a lot at stake unless committed volumes fructify. This is because the margins for supplying components for this small car were far too low compared to industry standards.
More
Courtesy:economictimes.indiatimes.com
