The government’s decision to waive off 8% excise duty on electric two-wheelers and three-wheelers is likely to bring down their price by Rs 1,800 to Rs 2,400, if the manufacturers pass on the entire benefit to customers. Currently, low-speed two-wheelers electric vehicles are priced at around Rs 20,000 and high-speed models at around Rs 36,000. […]
Commercial vehicle major Ashok Leyland today expressed doubts over its bid acquire French auto component major Valeo citing “complexities”.
“We are still considering it (acquiring Valeo) but we are not very sure whether we will be able to close it or not,” Ashok Leyland Chief Financial Officer K Sridharan told reporters on the sidelines of the […]
Italian automaker Fiat SpA has signed a memorandum of understanding to buy the Zastava plant in Serbia where Fiat Puntos and Opel Astras are currently produced for southeastern Europe, officials said Wednesday.
In Serbia, Economics Minister Mladjan Dinkic said the deal envisages an investment by Fiat of up to euro700 million (US $1 billion) in the […]
Indian tyre makers are likely to raise prices again in about two months to combat increasing input costs due to a spike in rubber prices, industry officials said. Earlier this month, major tyremakers such as Ceat and JK Tyre had raised product prices by 5 percent, while MRF increased it by 2 percent.
Rubber prices, which […]
The head of French automaker Renault, Carlos Ghosn, said on Tuesday the group was maintaining its 2008 growth targets but warned the next few months would be difficult in an “unfavorable environment.”
“We’re sticking to our objectives of a 4.5 percent operating margin for 2008… and we are maintaining our volume growth projection of more than […]
Auto major Mahindra & Mahindra is expanding its presence in the after-market sector. M&M has announced a complete after-market vertical which will consolidate its three business units; Mahindra First Choice services (multi-brand service chain), Mahindra First Choice (for purchase and sale of pre-owned vehicles)and Mahindra Spares Business (for both Mahindra and Non-Mahindra spares). […]
Car manufacturer Toyota Kirloskar Motor Pvt Ltd on Monday said it has received an approval for supplying its multi-utility vehicle Innova to the government.
“The Government of India has accorded the Directorate General of Supplies & Disposals (DGS&D) rate contract for the Toyota Innova 2.5 E seven and eight seater diesel versions,” Toyota Kirloskar Motor (TKM) […]
Auto major Mahindra & Mahindra Ltd will invest Rs 250 crore in three to five years in setting up a chain of multi-brand service outlets.
This was announced on Monday at the launch of Mahindra?s new business vertical which consolidates its after-market business, mainly servicing, sale of pre-owned cars and spares business.
The company is planning to […]
Your dream car is getting costlier. While car makers are increasing prices in May, financiers are hiking interest rates, leading to a steep increase in the cost of possession.
The increase may be in the range of Rs 4,000 for small cars to Rs 18,000 for deluxe ones. An increase in interest rates will result in […]
Hero Honda has worked out a major expansion strategy for the rural markets and is planning to strengthen retail financing to support the initiative, that could lead to setting up of its own finance arm.
Pawan Munjal, MD of Hero Honda, told TOI that rural market would be a special focus area for the company as […]