With both leisure and business travellers dropping Pune from their itineraries, 30 to 50 per cent of all grades of rooms in the city are vacant. This steep fall comes as double whammy for these hotels, since they were forced to pare tariffs 35 to 40 per cent owing to falling occupancies as a result of the economic slowdown.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
Maruti Suzuki and Hyundai Motors are expected to see overseas sales fall sharply following the recent removal of an incentive scheme.
Wary of the policing by the All India Council for Technical Education -- the body that regulates technical education in the country -- more and more management schools are going the Indian School of Business way, opting for one-year management programmes and registering themselves as private limited entities under the Companies Act, 1956.
McKinsey, RBS postpone placements by three to six months
Tata Motors has sold one Jaguar and Land Rover model a day since it launched the marque brands in India just under a month ago -- on June 28. But that's enough to satisfy the company and has, in fact, come as a surprise to many market experts.
Reliance Gas Transportation India Ltd, the pipeline company wholly owned by Reliance Industries promoter Mukesh Ambani, has decided to write to the finance ministry, seeking a restoration of profit-linked tax benefits the Budget has replaced with an investment-linked tax break.
Bajaj Auto has phased out the Pulsar 200 model to make way for the new Pulsar 220, as both were priced on a par, despite the latter being more powerful.
Five-year time frame for 'slow process of integration'. Bajaj Auto, through its 100 per cent Dutch subsidiary, Bajaj Auto International Holding BV, will buy the additional stakes in the Vienna Stock Exchange-listed KTM on-behalf of the company.
Bajaj Auto, the country's second-biggest maker of two-wheelers, says it will use its famed digital twin-spark plug technology in its compact car, due for launch in 2011.
The Freelander, a compact yet premium 4X4 SUV, is sold in large European markets.
In the years that the economy boomed and consumers had more money to spend, two-wheeler makers lured buyers with performance and presence. Now, the focus is back on fuel efficiency.
Many vendors who had lost their investment in Singur, West Bengal, after being forced to abort production there, are yet to decide on relocating to Sanand. Most of these suppliers will address the demand for components from their existing plant locations to meet this year's Nano production needs.
The company is developing a new model in its research and development centre in the United Kingdom, which will primarily address the defence needs of most countries around the globe, including India, said a senior executive from Land Rover.
Shows i10 in poor light two weeks after Hyundai took swipes at Ritz.
This will help M&M secure a stable line of dealerships fairly quickly, which otherwise is time-consuming and painstaking. Chrysler LLC last month decided to terminate business with 789 dealers -- nearly 25 per cent of its total dealership -- as part of its restructuring process. Mahindra is moving into the US at a time when recession has forced companies to slash jobs, pushing auto sales to the lowest in three decades.
With the monsoon season to begin and hotels hoping for a robust business at leisure destinations, swine flu could play spoilsport for the hotels, said industry players. At leisure destinations, international tourists form around 35 per cent of the clientele, with around 20-25 per cent coming from the US alone. Last year, tourist arrival in the country was 5.37 million, a fifth of whom stayed in five star hotels.
Scooters, which almost disappeared into the dark alleys of nostalgia, are making a grand comeback. The golden days of the early 80s, when scooters had a 64 per cent market share, are still far away. But the revival signals are strong.
The company has proposed to launch the 'made-in-India' car in the next three years. Given its nascent engineering strength, the Indian auto co is looking at existing platforms. The company will, therefore, save a fortune by not opting for a completely new car platform. Generally, the cost of developing a new platform constitutes a substantial part of the expenditure incurred on a new car's production.
Toyota is launching a compact car by the end of next year from its new production facility close to its existing plant in Bangalore.
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