India, one of the world's fastest growing auto markets, will see the launch of over ten vehicles, including small cars during the 10th Auto Expo.
The opportunity is huge. With Rs 8,000 crore worth of defence contracts signed in the last two years under the offset policy mandated by the government, Indian component suppliers are gearing up to cash in on balance contracts worth Rs 1,30,000 crore, which would be up for grabs in the next few years.
Mumbai-based utility vehicle and tractor maker Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company.
The news comes just three days after M&M received certification from the US Environmental Protection Agency allowing it to sell pick-up trucks in that country.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
UK-based telecom company BT today completed the sale of its 5.5 per cent stake in Tech Mahindra to partner Mahindra & Mahindra (M&M) for Rs 451 crore ($100.2 million). After the sale, BT has 24.4 per cent in Tech Mahindra.
Mahindra & Mahindra, which has been aggressively trying to make inroads in the 7.3 million units per year motorcycle market with the help of Bollywood actor Aamir Khan, has failed to create much excitement, with sales slipping 36 per cent last month from the previous one.
Despite some manufacturers giving the Expo a miss, there will still be plenty of action.
The e2o is manufactured by Mahindra Reva Electric Vehicles.
Mahindra & Mahindra will launch the compressed natural gas-powered variant of its Logan car at around Rs 5.20 lakh, in an attempt to spruce sales of the entry-level sedan.
Automobile dealers' body FADA said the Budget lacked immediate demand boosters for the automobile industry.
Auto giant Mahindra & Mahindra on Friday said it has agreed to acquire 5.5 per cent of IT firm Tech Mahindra's stake from UK-based British Telecommunications Plc (BT). UKs largest fixed-line phone company BT holds 30 per cent stake in Tech Mahindra.
Well, these engineering students race them too.
Mahindra & Mahindra on Thursday said it will launch a micro-hybrid version of its latest multipurpose vehicle Xylo before the year-end, while it gears up to roll out two electric cars from the Reva stable by the end of 2011.
Auto makers, who enjoyed a record-breaking sales run over recent months, are now bracing themselves for upheaval, led primarily by changing government policies and rising inflationary pressures.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
A look into how General Motors has tried to build the Chevrolet brand in India.
By industry estimates, less than five per cent of the passenger car market in India would comprise electric cars over the next five-seven years, at 1,75,000 units, when the industry size would double to 3.5 million units, as against over 1.6 million in 2009.
Tyre maker Dunlop's owner Pawan Kumar Ruia has submitted a bid to acquire South Korea's bankrupt SsangYong Motor, while Mahindra & Mahindra is also understood to have made a similar move.
American car maker General Motors is likely to pull out of its technological partnership with REVA Electric Car Company, after domestic auto major Mahindra & Mahindra Ltd bought 55.2 per cent equity in the Bangalore-based company to stake its place in the fledgling electric vehicle market.
At a time when merger and acquisition (M&A) activity is still recovering, companies are finding solace in private equity (PE) funds for acquisitions. And, PE funds seem keen to participate in such deals.
Indian automobile majors Tata Motors and Mahindra & Mahindra (M&M) have shown interest in taking over the Termini Imerese plant owned by Italy's largest car maker Fiat. Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011.
The auditor of government accounts, CAG, has faulted the Income Tax department for levying Rs 708.6 crore less in taxes from companies including State Bank of India, Tata Sons, Mahindra & Mahindra and Bharti.
The auto major is eyeing 20 per cent of the compact SUV market with the petrol and diesel variants of the XUV300, reports Shally Seth Mohile.
The monthly sales of its bread-and-butter Ambassador slipped to just around 800 in the April-February period.
The company had earlier said it would sell its Indian-made four-door and two-door diesel pick-up trucks in the US market by the end of the year.
The company which is facing a capacity saturation for its tractors -- a segment where its the market leader with 41 per cent share -- is looking to have an additional capacity in place for future demand.
The company is designing the motor-cycle at its Italy-based Engines Engineering, which was acquired by the Mahindra group in 2008.
The move comes after Renault's troubled five-year partnership with Mahindra & Mahindra failed to provide the French company with a platform to become a serious player in the country.
Manufacturers that mainly sell diesel cars like Mahindra & Mahindra, Tata Motors, Toyota, Mercedes, BMW and Volkswagen anticipate a significant fall in sales if the government accepts the Parikh committee's recommendation of a flat tax of Rs 80,000 on diesel cars, because of a widening cost differential with petrol variants.
The new year has brought good news for almost all car manufacturers, with market leader Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and even Fiat, posting their highest monthly sales since their inception.
Mahindra & Mahindra Ltd. (M&M) in association with NDTV Profit has announced the launch of Auto Quotient (AQ), a unique auto-related pan-India quiz contest.
GM declined to put a timeframe on when the electric small car would hit the Indian market.
While the value of the deal could not be ascertained, it is estimated that it could be around $100 million (Rs 450 crore approximately).
It is estimated that the deal could be around USD100 million.
After small cars hogged the limelight, it was the turn of celebrities, including Bollywood stars Shah Rukh Khan, Ajay Devgan and cricketer Sourav Ganguly, to add glitz to the ongoing 10th Auto Expo.
Mahindra & Mahindra's ambitious foray in the United States, a first by an Indian automobile company, is to take place by the year-end, with the launch of a couple of compact diesel-driven, pick-up truck models.
Leading automakers such as Tata Motors, Skoda, Mahindra & Mahindra, Mahindra Renault, General Motors and Bajaj have production facilities or offices in Pune, the epicentre of H1N1 virus, and other parts of Maharashtra. The swine flu has claimed 10 victims in Pune and scores have tested positive in the region.
If 2010 saw a flurry of new cars, 2011 will only see more. Here are some that should matter, or just be eye candy:
Among those who have the most to lose from India's haphazard policies are dealers selling cars made by Toyota, Mahindra & Mahindra, Daimler AG's and Tata Motors' luxury arm, Jaguar Land Rover
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