He said companies, which were relying on the Mumbai market to boost sales in the normally-sluggish year-end period, would see a significant negative impact. “It will certainly be slower than what it is in November. And going forward, December is never a big month for auto sales,’’ he said. More
Courtesy: economictimes.indiatimes.com
?The rating change reflects the slowdown in demand seen in both TML?s domestic and overseas markets. This translates into pressure on profitability and happens at a time when the company has increased its leverage. TML?s financial flexibility is, therefore, significantly weakened,? said Elizabeth Allen, Moody?s vice- president and senior credit officer.
Read more
Courtesy: indiacar.net
While the oil prices have come down, the input costs remain high and with the depreciation of the rupee, an increase is contemplated, he said.
Asked about the unique features of Honda cars in India, he said the company has been designing a global model and would like the customers to drive the same cars that the world drives. The air filters to prevent dust and control of the music system in the rear were unique India-specific features, he said. More
Courtesy: indiacar.net
The Tatas are close to consolidating their shareholding in Steel Strips Wheels through a planned move that could profit the conglomerate`s key companies, Tata Steel and Tata Motors, reports Economic Times.
The Tatas, who own 10% in Steel Strips through investment company Kalimati Investment, could see their shareholding rise to 13.5% after conversion of the optionally convertible bonds (OCB) issued earlier to Tata Capital, another group company. More
Courtesy: indiacar.net
Japanese auto major Suzuki Motor Corp (SMC) is mulling to buyout the stake of its Indian partner in two wheeler-venture Suzuki Motorcycle India Pvt Ltd (SMIPL).
The Japanese firm is looking to make the Indian subsidiary, a wholly-owned venture, which had started off with it holding 74 per cent stake and the rest 26 per cent by the family of company Managing Director, Satya Sheel. More
Courtesy: economictimes.indiatimes.com
In a ruling in favour of the domestic tyre companies, the Commerce Ministry has put imports of radial bus and truck tyres under ? restricted list?. This would compel tyre dealers who are importing radial tyres for commercial vehicles to obtain a licence from the Government unlike earlier when they were allowed to import freely.
The Government?s decision hopes to give respite to tyre companies, which were wrestling with increasing imports at a time when the domestic demand was also slowing down. More
Courtesy: indiacar.net
Finding it difficult to keep the prices of its cars at the present level Honda Siel Cars India Ltd may have to hike it by one or two per cent by January, due to rising input costs, company President and CEO Masahiro said.
Talking to reporters after inaugurating the state-of-the-art Honda facility here, he said though oil prices had fallen, input costs had increased as the value of the Rupee had come down. More
Courtesy: economictimes.indiatimes.com
Suzuki Motorcycle India (SMIPL) launched its iconic superbikes, the 1300 cc Hayabusa and the 1800 cc cruiser Intruder M1800R, priced at Rs 12.5 lakh (ex-showroom Delhi) each.
The company aims to sell over 350 super bikes at the rate of one bike per day. Already, Yamaha has launched its 1,000 cc YZF-R1 superbike and the 1,670 cc MT-01 priced in the Rs 10-15 lakh range. More
Courtesy: economictimes.indiatimes.com
Japanese auto major Suzuki Motor (SMC) is set to buy out the stake of its Indian partner in two-wheeler venture Suzuki Motorcycle India (SMIPL), which could happen this fiscal. The Japanese firm is looking to make the Indian subsidiary a wholly-owned venture, a process that started with it holding a 74% stake and the remaining 26% by the family of company MD Satya Sheel. More
Courtesy: economictimes.indiatimes.com