Auto exports rose to 56,042 units in the month with the value of vehicle shipments up 34 percent from a year earlier at 24 billion baht (694 million dollars), the Automotive Industry Club said. Strong demand in Australia and the Middle East helped lift vehicle exports, offsetting pressure from a strong Thai baht, said club spokesman Suraphong Phaisitpattanapgong. The baht traded at near 10-year highs against the dollar in July. More
Courtesy:economictimes.indiatimes.com
Archive for the 'Research/Surveys' Category
Logix rolls out car sale portal
Published August 22nd, 2007 in Launches, Car Money and Research/Surveys. 0 Comments“Online car selling will begin 12 months from now,” said Mr Sanjay Soni, Managing Director, Logix Microsystems, launching auto portal Carazoo.com on Tuesday in the city. More
Courtesy:www.indiacar.net
Auto sector witnesses mismatch in sales versus retail
Published August 15th, 2007 in Research/Surveys. 0 CommentsThe data put out by companies and industry associations indicate that two-wheeler sales have been on a decline, while four-wheelers continue to post a robust growth. more
Courtesy:www.indiacar.net
Competent Auto net rises 7.76% in Jun`07 qtr
Published August 9th, 2007 in Research/Surveys. 0 CommentsNet Sales for the quarter rose 9.56% to Rs 1,234.63 million, as compared with Rs 1,126.86 million for the corresponding quarter last fiscal. More
Courtesy:www.indiacar.net
Nirmal Minda group hunts for acquisitions in Europe
Published July 26th, 2007 in Research/Surveys. 35 CommentsGurgaon-based auto component manufacturer Nirmal K Minda group is scouting for an acquisition in the European region. The group also announced that they have entered into a joint venture with the French automotive company Valeo Electrical Systems.
NK Minda group’s managing director Nirmal K Minda said: “We are forming a joint venture with the Valeo Electrical Systems. Valeo will hold about 66.7% and the rest 33.3% will be with us. The new venture would focus on manufacturing alternators and motors for passenger cars and will be called Valeo Minda Electrical Systems India (VMESPL).” More
Courtesy:economictimes.indiatimes.com
Sona Koyo plans aluminium die casting, forging unit
Published July 19th, 2007 in Research/Surveys. 16 CommentsIn an attempt to expand the scope of its business, Sona Koyo Steering Systems Ltd is looking to set up an aluminium die casting and forging unit. “We are examining setting up of an aluminum die casting and forging unit to export components to Europe,” said Mr Surinder Kapur, Chairman and Managing Director, Sona Group, to Business Line.
At present, the company sources its aluminum forging requirements and then uses it for making components. However, the company is now looking at indigenously supporting its forging and die casting requirements.
Sona Koyo Steering Systems’ board also gave clearance on Wednesday for external commercial borrowings worth $50 million for which the company has tied up with ICICI Bank. More
Courtesy:www.indiacar.net
Auto air-conditioning systems manufacturer Subros Ltd on Monday said it will invest Rs 200 crore to double its manufacturing capacity by 2012.
The company has four plants located in Gurgaon and Noida. Its present capacity is 7.5 lakh units per annum. More
Courtesy:economictimes.indiatimes.com
You’re in NY City busy negotiating the bend off Lexington when you hear a beep on that handphone. Somebody back home in New Delhi is fiddling with your four-wheeler. You’re on boil but this time you shall foil — any chance of theft, that is.
All you need to do is speak easy on your cellphone. A few voice commands and the car is jammed, or even tracked from the back of beyond. The server has overtaken the driver.
Now if you thought that’s straight out of some art nouveau sci-fi, brace up for a reality check. Auto component makers ranging from Tata’s TACO MobiApps Telematics to Pune-based BioEnable Technologies to Thrissur-based Altosoft Technologies are using mobile SIM cards and the GSM module to communicate with vehicles. More
Courtesy:economictimes.indiatimes.com
Furukawa gets FIPB nod to set up auto components JV
Published July 13th, 2007 in Uncategorized and Research/Surveys. 0 CommentsThe Foreign Investment Promotion Board (FIPB) has cleared a proposal from Japanese giant Furukawa Electric for setting up a joint venture in India to design and manufacture auto components. The manufacturing facility is likely to be located in Haryana and the Japanese partner would hold a 51% stake in the venture.
This is Furukawa’s first investment in India. Till now, the Japanese giant’s exposure to India was restricted to a technical collaboration with Delphi Automotive Systems.
The Indian venture of Furukawa will be called Minda Furukawa and the Indian partner is San Fin Lease and Investments, a Delhi-based company engaged in the auto component business.
More
Courtesy:economictimes.indiatimes.com
Car makers are building a range of mini SUVs (sports utility vehicles) in apparent reaction to growing criticism that 4×4s are too heavy and thirsty for driving conditions in big cities.
“The big and heavy 4×4 is no longer in. The SUV is shrinking to the size of the average compact class with less consumption, emission and space and thus becoming more socially acceptable,” says Nick Margetts of the Jato Dynamics research institute.
However, demand for SUVs worldwide remains fairly strong with Henner Lehne from the CSM market research institute near Frankfurt estimating that there will be about 11 million new SUV registrations worldwide by 2010. More
Courtesy:economictimes.indiatimes.com
