Japanese auto giant Honda's two-wheeler unit in India has suffered losses to the tune of Rs 100 crore (Rs 1 billion) in the last one month due to labour unrest, which has led to police deployment at the facility and production being cut down by over
Honda Siel Cars India hopes to achieve a nearly 32 per cent rise in turnover this fiscal to Rs 1,500 crore (Rs 15 billion) on the back of increased volumes, company officials said on Tuesday.
Honda Motorcycle Scooter India, a 100 per cent subsidiary of Honda Motor Company, Japan, will launch a slew of high-power premium bikes in India, the first of which will debut by March next year, according to company executives.
Over 10,000 km in a year but the bike still offers adequate amount of power on tap and a fuel efficiency figure to keep the pocket happy, says Naveen Soni
Fuel price hike will impact demand going forward.
The year 2011 too has a number of hatchbacks ready to be launched.
Hero Honda is being egged on by the government's "unannounced concessions" in its 10-year vision statement, the Automotive Mission Plan, which envisages the development of low-cost vehicles.
HMSI has increased the monthly salary of its permanent workers by Rs 14,770 a month.
Auto major Honda Siel Cars India Ltd on Wednesday said it will increase prices across all models from April 2 since the sales tax holiday it enjoys in Uttar Pradesh, is coming to an end.
Developed at an investment of Rs 620 crore (Rs 6.2 billion), the most on a car by Maruti Suzuki, the Ciaz will also be exported to West Asia, Europe, Africa and Latin America.
Production at the two-wheeler major Hero Honda's plant in Gurgaon was severely hit following a strike by contract workers, demanding regularisation of services and higher pay, even as talks were on to end the agitation.
Hero Honda, the motorcycle market leader, on Thursday tied up with Punjab National Bank to provide low interest loans to its customers.
Honda had unveiled the concept of the vehicle at the Delhi Auto Expo this year and said it will be priced below Rs 500,000.
The company plans to ship 1,600 unit of the hatchback by then of this financial year.
Keisuke Honda carried Japan to their first World Cup finals victory on foreign soil when he scored the goal which beat Cameroon 1-0 in a Group E match on Monday.
Reliable sources said it is only a mere ending of cross holdings in the companies in order to keep the businesses running smooth when it will be handled by future generation.
Honda Motorcycle & Scooter India Pvt Ltd (HMSI) will set up its second plant in Rajasthan at an investment of Rs 1,100 crore (Rs 11 billion) with an installed capacity to produce 12 lakh units per annum.
The HMSI Employees Union has demanded basic pay increments of Rs 15,000 for permanent workers, Rs 10,000 for contract workers and Rs 4,000 for apprentices.
Power window switch can catch fire.
India's largest motorcycle maker Hero Honda Motors Ltd said on Thursday it posted a net profit of Rs 581 crore (Rs 5.81 billion) for the year ended March 31.
Hero Honda announced on Monday the launch of its fuel-injection technology motorcycle Glamour FI, whose prices start from the range of Rs 49,990.
Japan on Tuesday said the labour unrest at Honda Motorcycles and Scooters India could impact foreign direct investment inflows into India, but ruled out its intervention in the matter.
In a relief to two-wheeler major Hero Honda Motors, a tax tribunal has ruled in favour of the company in a case filed by the Excise department for alleged duty evasion to the tune of Rs 2 crore (Rs 20 million).
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Honda Cars India Ltd would be able to manufacture only 4,000-5,000 units of Amaze per month this year as its limited by the current production capacity, company's senior vice-president (sales and marketing) Jnaneswar Sen said at the car's launch in the city.
Pressure is mounting on Honda Motorcycle and Scooters India, India's fourth biggest two-wheeler maker by volume, to resume normal supplies of scooters and motorcycles to its dealers, who are forced to ask customers to wait for up to four-five months for delivery.
Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI), according to data from JATO Dynamics reviewed by Business Standard. Hero's share of rural two-wheeler sales in India has dropped from 40.4 per cent in 2018 to 33.3 per cent in 2023. In contrast, Bajaj's share increased from 12.7 per cent in 2018 to 13.9 per cent, HMSI's from 21.8 per cent to 22.2 per cent, and TVS' from 15.5 per cent to 17.8 per cent. Suzuki Motorcycle India has also seen its share rise from 1.7 per cent to 2.5 per cent.
With US-based electric vehicle (EV) maker Tesla scouting for a suitable location for its foray in India, Rajasthan has joined the fray with a host of offers to woo the Elon Musk-led company. Other challengers include Gujarat, Tamil Nadu, and Maharashtra. Sources privy to the development said that an initial meeting between the senior executives of Tesla and the government of Rajasthan, which was held last week, turned out to be "quite positive." Tesla would now carry out a survey and is expected to share the survey details with the state's investment promotion department soon.
This can spark off a price war.
Hero Honda Motors on Monday said its motorcycle sales grew by 6.1 per cent in August to 145,730 units, from 137,264 units in the same month last year.
Honda Car India is planning to increase prices of its vehicles by up to Rs 6,000 from April to offset the impact of adverse exchange rate that has resulted in higher input costs.
Honda Motor is working on a small car with 1.2 litre engine for the Indian market at its research and development facility in Japan.
The ongoing elections and overall subdued market sentiment continue to affect the sales momentum
Hero Honda, the world's largest two-wheeler company, is scouting for a partner for its proposed foray into the four-wheeler segment.
Stating that the plans for unveiling the vehicle are at the final stage, Mohindroo said, "the company would showcase the motorcycle in the Auto Expo 2010."
The upgrades include features like driver seat height adjuster and rear windshield defogger.
