Without giving any timeline, auto major Mahindra and Mahinrda on Wednesday said there is a need to increase prices of cars and farm equipments due to rising commodity prices.
“There is certainly a need for hiking prices. We are constantly monitoring the situation, but at the moment can’t say when we will be doing so,” M&M […]
Firestone TVS Private Ltd (FTPL), a joint venture between US-based Firestone Industrial Products Company and Sundaram Industries of the $ 4-illion TVS Group, on Wednesday inaugurated its air spring manufacturing facility near Madurai.
According to a company press release, FTPL would initially manufacture air springs and cater to air-suspension systems manufacturers, automotive OEMs and the aftermarket, […]
French auto major Renault has opened a second front with ultra-low-cost car partner Bajaj Auto by inviting the Pune-based two-wheeler maker to pick up stake in Renault Nissan Automotive India (RNAIPL), which is setting up a $1-billion greenfield plant in Chennai. The company is also negotiating with Bajaj to extend the ultra-low-cost car partnership to […]
With a serious crunch operating in the availability of natural rubber (NR), the tyre industry has reiterated its demand for duty-free import of 1 lakh tonnes of NR without any further delay.
The tyre industry, that consumes 57 per cent of the natural rubber produced in the country, is facing the worst ever raw material availability […]
Renault has invited India’s Bajaj Auto Ltd to join a $1 billion manufacturing alliance with partner Nissan Motor Co, media reports stated on Thursday, citing unnamed industry sources.
Renault and Nissan, which are developing a $2,500 car with motorbike maker Bajaj, are also negotiating with the Indian firm to extend their venture to distribute the Renault […]
Higher sales has led tractors and farm equipment company Escorts record a net profit of Rs 9.3 crore for the quarter ended June 30, 2008, against a loss of Rs 6.2 crore in the corresponding quarter the previous fiscal.
The company�s net sales reported a marginal increase of 5.02 per cent to Rs 542.8 crore, up […]
General Motors Corp has announced a production cut by 1,17,000 vehicles due to low consumer demand for pickup trucks and SUVs.
According to company officials, GM will achieve the cuts by eliminating one shift each at its Moraine, Ohio, and Shreveport, La., plants. Most of the cuts will affect production of trucks and sport utility vehicles.
The […]
Ultra Motor India, the India arm of UK-based global electric vehicle manufacturer, Ultra Motor Company, today launched its high end range electric scooter, ‘Marathon’ here, which it claims would travel 100 Km on a single charge.
Speaking to reporters after the launch, Mr.Deba Ghoshal, Director (Marketing) Ultra Motor India, said that the Marathon, priced Rs.31,047, (Ex-showroom, […]
Hero Honda Motors reported a substantial rise in its standalone net profit for the quarter ended June 2008. During the quarter, the profit of the company rose 43.74% to Rs 2,728.70 million from Rs 1,898.40 million in the same quarter, previous year. More
Courtesy: www.indiacar.net
Ashok Leyland reported a phenomenal drop in its standalone net profit for the first quarter ended June 2008, missing analysts` forecast. During the quarter, the profit of the company declined 42.66% to Rs 505.69 million from Rs 881.88 million in the same quarter, previous year. The analysts polled by Bloomberg had estimated earnings of Rs […]