Prices of second-hand cars, mainly compact ones, have fallen 15-20% in the last few days. Dealers in the unorganised market fear a further price dip of 10 per cent when delivery starts and the Nano is seen prominently on roads. The Nano, expected to sport an on-road price of Rs 1.25-1.3 lakh for the no-frills, base version, will compete with the compact cars of Hyundai Motors, Maruti Suzuki, Tata Motors and General Motors.
Tata Motors subsidiary Telco Construction Equipment Company Ltd (Telcon) has opposed a proposal to the Foreign Investment Promotion Board (FIPB) from John Deere for a joint venture with Ashok Leyland to distribute and market its construction equipment in India.
SBI may charge 14 to 14.75% for 5-year loans.
Part of government strategy to push demand.
Automobile component manufacturers are rejoicing over a sudden 30-40 per cent spurt in demand in February. Analysts are, however, not entirely sure of the reason for this high growth; many are doubtful if it can be sustained, given the other gloomy signals. An analyst says, "Almost all car makers have either completely withdrawn or drastically reduced their promotional offers." Also, payment issues as far as vendors are concerned remains a problem.
At a time when the economic slowdown is eating into corporate earnings, the country's economy hotels, including Krizm Hotels and Berggruen Hotels, are going ahead with their expansion plans.
Sales of Maruti Suzuki India during January-December 2008 stood at 697,850 units while those of Suzuki Motor Corporation for the same period stood at 679,215 units. The comparable growth for MSIL in India comes on the back of an almost 2 per cent decline for the company in a year-on-year basis during the calendar year. Its sales were higher in calender year 2007 at 710,532 units, according to the data provided by the company.
Blogging is one of the most popular methods of communication for the tech-savvy. The form that most of us are familiar with is text blogging. However, technological advances have given rise to another off-shoot of text blogging, voice blogging.
Tata Motors, which owns Jaguar and Land Rover, is in talks with the UK government on assistance for the luxury units as sales have plummeted.
Ford India, the Chennai-based automobile company of the US giant, said today that it has raised prices of all its models, except the Ikon, by as much as Rs 25,000 due to a strong surge in import costs recently.
The launches will be be both in the passenger vehicle segment as well as the commercial vehicle segment of truck and low tonnage vehicles. M&M, like its competitors in the overseas market, has decided to make increased use of a single platform for several models. A vehicle platform is the basic structure on which a vehicle is built, which defines its general size, strength and body construction.
With the addition of new capacities, the company aims to double its turnover to Rs 1,000 crore (Rs 10 billion) by end of FY10 from Rs 514 crore posted during the last financial year ended March 31, 2008. New hotel properties will come up in Chennai, New Delhi and Udaipur. This will increase its room inventory to almost 2,000 rooms from 1,125 rooms.
India's largest sport utility vehicle maker Mahindra & Mahindra's plan of launching its vehicles in the US has suffered a delay of almost 12 months following clearance awaited from the US homologation department.
The Air Car, made by French company MDI, could be launched by Tata Motors in India by 2010-11.
R Sridhar, managing director, Shriram Transport Finance Company, said, "The depreciation advantage will only benefit large and medium truck and bus operators, who are also tax payers. But their size in the market is quite small when compared to small operators who form about 75 per cent of the CV market."
A majority of HMIL's current export comprises the i10 model, which is exported to Asia, Latin America and Western Europe. In addition, the company has stated that 90 per cent of the i20 model (a premium hatchback) will be exported. The company will produce 150,000 units of the model annually.
Bharat Forge, India's largest auto components maker, said it will cut production as demand from car makers shrink.
Currently, STAT 24X7 offers X-Ray, ECG, USG, Pathology and Stress test services, among others.
The Trident and Taj Mahal Palace and Tower said they have been flooded with requests for reservations at their restaurants when they reopen December 21, almost a month after the terrorist attacks on these landmark hotels destroyed significant portions of both buildings.
The Chicago-headquartered company, which currently operates five hotels in India under the Hyatt Regency, Park Hyatt and Grand Hyatt brands in Mumbai, New Delhi, Goa and Kolkata, said it will also introduce two-three more brands in the country. The Chicago-headquartered company currently operates five hotels in India under the Hyatt Regency, Park Hyatt and Grand Hyatt brands in Mumbai, New Delhi, Goa and Kolkata.
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