Export sales for the period were Rs 167.07 crore as against Rs 186.34 crore during the same period in the previous year mainly due to lower realisation in rupee terms due to strengthening of rupee against US Dollar and softening of the US market. Domestic sales, net of excise duties, increased to Rs 429.40 crore (Rs 417.84 crore) despite slow down in Heavy/Medium commercial vehicles sector and the slump in sale of two wheelers. More
Courtesy:www.indiacar.net
Archive for October, 2007
Sundram Fasteners Q2 net rises, to pay 45% interim
Published October 30th, 2007 in Bikes. 0 CommentsRenault President Ghosn visits Bajaj’s Chakan plant
Published October 30th, 2007 in Bajaj auto and Renault. 0 Comments“I am confident that this project will continue to advance in a favourable direction for both Bajaj and Renault Nissan Alliance,” Ghosn said while visiting Bajaj Auto’s Chakan plant in Pune today.
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Courtesy:www.indiacar.net
Renault-Nissan confident of proposed Bajaj alliance
Published October 30th, 2007 in Bajaj auto, Nissan and Renault. 0 CommentsA team from Renault-Nissan visited a Bajaj plant in Chakan near Pune on Monday, and met with Bajaj engineers. “After our discussions in Paris, I am here to further review the proposed alliance for the ultra low-cost car project with Bajaj,” Carlos Ghosn, chief executive of Renault and Nissan said in a statement. Read more
Courtesy:www.indiacar.net
Courtesy:economictimes.indiatimes.com
Ashok Leyland in $500m tieup with Nissan for 3 JVs
Published October 30th, 2007 in Ashok Leyland. 0 CommentsBy sewing up a binding master co-operation agreement with Nissan Motor, Hinduja Group flagship Ashok Leyland has formalised its entry into the light commercial vehicle (LCV) segment. The partnership will entail an investment of $500 million, for the formation of three joint venture companies.
The alliance will lead to the birth of three companies. A vehicle manufacturing company with 51% by Ashok Leyland and 49% by Nissan. This will kick-start production in 2010 and will include new generation Nissan Atlas F24 light duty truck, in addition to a range of products covering applications from 2.5 to eight ton gross vehicle weight. Read more
Courtesy:www.indiacar.net
Backed by higher realisation from new premium models — SX4 and Swift — and a stronger sales performance, Maruti Suzuki India (MSIL) drove up with a 27% increase in its net profit at Rs 466.5 crore for the second quarter ended September 30, against Rs 367.4 crore in the corresponding period last year. More
Courtesy:economictimes.indiatimes.com
Carlos Ghosn’s multi-partner strategy will not rob first joint venture Mahindra Renault of products beyond the Logan family. According to Mr Ghosn, Renault will stick to its agreement with M&M and market all its passenger cars except the ultra low-cost car through Mahindra Renault in India.
?That is the agreement,? Mr Ghosn said. ?Mahindra Renault will be the front organisation for marketing all Renault products in India and they will be badged Mahindra Renault.? More
Courtesy:www.indiacar.net
Nissan Renault may expand Bajaj tie-up
Published October 29th, 2007 in Bajaj auto, Nissan, Ashok Leyland and Renault. 0 CommentsThree partnerships down the road, Nissan Renault big kahuna Carlos Ghosn is looking for at least two more to complete his India strategy. On an action-packed trip to check out Bajaj Auto’s Chakan plant after signing a light commercial vehicle (LCV) deal with Ashok Leyland for Nissan, he said a car alliance for Nissan and an LCV deal for Renault are open and a decision would be made in “months”.
“We are looking for partners for Nissan cars and Renault LCVs,” Mr Ghosn said. “Nissan has signed up with Ashok Leyland for LCVs; so, everything concerning light commercial vehicles for Nissan in India will involve Ashok Leyland,” he said. Read more
Courtesy:economictimes.indiatimes.com
Apollo Tyres Q2 net zooms on stable raw material prices
Published October 29th, 2007 in Apollo tyres. 0 CommentsStable raw material prices have helped Apollo Tyres Ltd register a 164 per cent jump in net profit on a standalone basis (Indian operations only) for the second quarter ended September 30, 2007.
The net profit for the second quarter was at Rs 51.1 crore against Rs 19.3 crore registered in the corresponding previous quarter.
The net sales registered a 10 per cent increase during the quarter to Rs 844.31 crore against Rs 767.33 crore in the second quarter of the previous financial year. More
Courtesy:www.indiacar.net
Bajaj ups production of new 125 cc bike
Published October 29th, 2007 in Bikes and Bajaj auto. 0 CommentsBajaj Auto Ltd, India’s No. 2 motorbike maker, said it is raising production of its new 125 cc motorbike to 75,000 units a month from November. More
Courtesy:economictimes.indiatimes.com
