Eicher Motors said that the board of directors of the company at its meeting held on Jan. 29, 2008, approved transfer of company`s commercial vehicle division (including components and engineering design services) on a `slump sale` and on a going concern basis, to a new subsidiary of the company. More
Courtesy:www.indiacar.net
Tata’s Nano effect seems to be rubbing off on its bespoke targets, Jaguar and Land Rover. But what makes money nearly never comes cheap.
JLR’s top-gear performance in 2007, which helped Ford’s marquee umbrella Premier Automobile Group (PAG) clock a pre-tax profit of $504 million, may push up valuations even as Tata Motors enters the final [...]
Volvo Bus Corporation, a group company of the Swedish Volvo Group, has announced the inauguration of its newly built bus body production facility here on Thursday. The facility is a joint venture between Volvo Bus Corporation and Jaico Automobiles of Bangalore. Volvo Bus has 70 per cent stake in the join venture, which had made [...]
Ford Motor Company and India’s Tata Motors Ltd are nearing an agreement for Tata to buy Jaguar and Land Rover, according to a person who has been briefed on the negotiations.
The deal is likely to be announced in February, perhaps as early as next week, but could be as late as the Geneva Motor Show [...]
Bajaj Auto, on consolidated basis, registered 16.60% drop of in net profit for the quarter ended December 2007. During the quarter, net profit stood at Rs 2,738.20 million as against Rs 3,283.50 million in the quarter ended December 2006.
Net Sales & Income rose marginally 2.83% to Rs 26,960.30 million for the quarter ended December 2007 [...]
World’s largest premium carmaker BMW is ready to compete with Mercedes head-on in the fast growing Indian luxury car market with plans to overtake its German rival in the coming few years.
“We have far exceeded our performance in India with 1,387 units sold last year. As we get closer to Mercedes, you can imagine we [...]
Mahindra & Mahindra registered a 67.63% rise in net profit to Rs 4,051.53 million for the quarter ended December 2007, compared with Rs 2,416.90 million for the same quarter, a year ago. More
Courtesy:www.indiacar.net
Wearing of helmet will become compulsory for two-wheeler riders in the Union Territory of Puducherry in the next two weeks.
Announcing this, Senior Superintendent of Police (Law and Order), Chhaya Sharma, told reporters here Tuesday that there was a directive from the Centre that necessary orders be issued to make wearing of helmets by two-wheeler riders. [...]
Piaggio India launched its four-wheeler cargo vehicle, ape truck, here on Tuesday. At the launch, Mr Pravin Parab, Deputy General Manager (Sales), said the company wants to sell 5,000 sub one-tonne fourwheelers this year. An exclusive showroom for the vehicle was also inaugurated. Read more
Courtesy:www.indiacar.net
The automobile industry, pounded by higher interest rates on Tuesday expressed disappointment over RBI’s decision to keep rates unchanged saying it would be a challenge to reverse negative growth trend witnessed by the sector without government support.
“The two wheeler and commercial vehicles segment have been affected by high interest rates… The auto sector was looking [...]
Tata Motors is gearing up for an outright purchase of two luxury car brands—Jaguar and Land Rover—from the Ford Motor Company. This is a departure from the US carmaker’s previous plan to retain a minority stake in these two brands, post sell-off, to ensure their future development.
Sources close to the development said Ford has decided [...]
Emkay has recommended a BUY on Ashok Leyland (Q, N,C,F)* (CMP: Rs 37) with a target price of Rs 54.
The analysts at Emkay say that Ashok Leyland reported its Q3FY08 numbers in line with their expectations. Net sales grew by 1.3% YoY to Rs 18 billion backed by spare parts and defense sales and approximately [...]
South Korea’s Hyundai Motor Co. is planning to produce a low-cost mini car in India by 2011 to compete with locally produced vehicles such as Tata’s new Nano, a company executive said on Wednesday.
The low-cost, fuel-efficient mini car models will be priced between 3.5 million Korean won (US$3,700; euro2,500) and 5 million won, Cho Won-suk, [...]
Maruti Suzuki India Ltd has reported a 24.1-per cent increase in net profit for the third quarter ended December 2007at Rs 467.04 crore as compared to Rs 376.41 crore for the quarter ended December 2006.
The net sales for the third quarter of the current year increased 27.01 per cent to Rs 4,654 crore ( Rs [...]
A group of market participants expecting a cut in cash reserve ratio or in repo rate by the Reserve Bank of India tomorrow, picked up interest sensitive sector stocks. BSE Auto Index closed in the green along with the Bankex among 13 sector indices.
Auto stocks were among the perceived beneficiaries of the easier interest regime [...]