A source close to the company confirmed that production of the Esteem has already been stopped. But when contacted this is what a company spokesperson had to say: “The production of the Esteem is going to continue for the next 3-4 months. More
Courtesy:economictimes.indiatimes.com
Archive for October 6th, 2007
Maruti Udyog is all set to launch Swift Sedan
Published October 6th, 2007 in Maruti Udyog. 1 CommentCourtesy:www.indiacar.net
The company will roll out these models from its Ranjangaon facility. More
Courtesy:www.indiacar.net
An alliance with Mahindra International — a venture of India’s Mahindra & Mahindra Ltd and Navistar’s International Truck and Engine Corp — would give Eicher expertise in engines and high-capacity trucks, it said. More
Courtesy:economictimes.indiatimes.com
Caparo Vehicle Products, a unit of the Caparo group of Lord Swraj Paul, is planning to put up a facility “to manufacture high-end luxury buses and special vehicles” near Chennai. According to sources, this may require an investment of about Rs 80 crore. Also coming up at Chennai are an R&D centre “to design and manufacture dies/tooling fixtures and testing rigs, and offer product development and phototyping” and a consultancy services division for automotive and aerospace industry, the literature says.
At a press conference here today, Mr Angad Paul, CEO, Caparo Plc, and Chairman, Caparo India, said that the group would invest at least Rs 1,000 crore in Tamil Nadu. More
Courtesy:www.indiacar.net
Mallya completes Spyker-Ferrari F1 team deal
Published October 6th, 2007 in Uncategorized. 0 CommentsLiquor baron Vijay Mallya has completed the 90 million euro deal to acquire 50 per cent stake in Spyker-Ferrari Formula One, thereby making him the co-owner of the team.
After a 30 day long diligence process, the deal was finalised this morning, a spokesperson of Mallya said.
A consortium, led by the UB Group Chairman Vijay Mallya and Dutch entrepreneur Michiel Mol, had signed in-principle agreement last month to purchase Spyker-Ferrari Formula One from Dutch sportscar maker Spyker. More
Courtesy:economictimes.indiatimes.com
Govt intervention slowing down demand: Tata Motors
Published October 6th, 2007 in Tata Motors. 0 CommentsTata Motors, the country’s biggest automobile firm by market value, today said the auto industry is going through a difficult year as ‘conscious intervention’ by the government slowed down demand of vehicles.
“The state of the market is a tough one for the industry, including Tata Motors. When the SIAM data (for September) is officially released you’ll notice that the growth is down to single digits,” Tata Motors President Passenger Vehicles Rajiv Dube told reporters here.
He said it has been a difficult year for almost all players, more so with government’s moves to curb demand. More
Courtesy:www.indiacar.net
Caparo Group strengthens operations in India
Published October 6th, 2007 in Eicher motors. 0 CommentsNRI industrialist Lord Swraj Paul-led Caparo Group is strengthening operations in India by setting up new auto component facilities, besides expanding the existing ones to meet the demand in the domestic market and from countries like Mexico and Thailand.
“There are future plans to build a number of stamping facilities across India with plans already in place for a facility in Madurai,” Lord Paul said here at an event organised by Eicher Motors.
He said the group will launch an axle and suspension systems facility in Halol in Gujarat next month and construction of one such unit each at Singur and Jamshedpur was going on. More
Courtesy:economictimes.indiatimes.com
Volvo leads race for stake in Eicher
Published October 6th, 2007 in DaimlerChrysler India, volvo and Eicher motors. 0 CommentsVolvo , the world’s No. 2 truckmaker, was leading the race buy a majority stake in India’s Eicher Motors reported on Thursday, citing unnamed sources. The paper said Volvo was in advanced negotiations with the Indian truckmaker and had offered 675 rupees ($17.05) per share, topping an offer of 500 rupees a share offer from DaimlerChrysler .
On July 30, the paper had said DaimlerChrysler was the front-runner for a majority stake in Eicher.
Daimler holds a 3.56 percent indirect stake in Eicher, while the Indian firm’s founders own about 58 percent. More
Courtesy:www.indiacar.net
MRF Ltd Friday said its turnover had crossed the Rs 5,000-crore mark in 2006-07 (Oct-Sep), and is the first Indian tyre company to do so. In 2005-06 the company’s sales stood at Rs 4,260 crore. More
Courtesy:economictimes.indiatimes.com
