The country's second largest carmaker, Hyundai Motor India, on Friday said it is cutting production by 25 per cent and will work two shifts instead three from the next week following a slump in demand.
The company was also looking for a strategic investor for the revival of the Uttarpara plant.
Homegrown auto major Mahindra & Mahindra on Thursday said it will recall 900 units of a variant of its popular sports utility vehicle Scorpio, manufactured between October and November this year, to rectify faulty pressure valve.
World's largest carmaker Toyota on Monday said it has cut production in India by 30 per cent this month, but is not holding back its planned investments of Rs 3,200 crore (Rs 32 billion) in the country.
EcoSport accounts for almost 40 per cent of the cumulative one million units sold by Ford in India till date, which is a reason why more than half of its future launches could be SUVs.
The price of the company's premium hatchback Fusion has been reduced by Rs 18,500, Ford India said in a statement. Likewise the mid-sized sedan Fiesta's price was cut between Rs 21,000 and Rs 25,000, while that of sports-utility vehicle Endeavour has been reduced by Rs 47,000-Rs 54,000.
American carmaker Ford is expected to announce on Wednesday the sale of its premium British car brands Jaguar and Land Rover to Tata Motors for a consideration of about $2 billion. Local media reported that the agreement will include a pledge by Ford to contribute to the two brands' pension fund, and by Tata to continue buying engines from Ford both sensitive points with trade unions.
German luxury carmaker BMW is evaluating over 100 component manufacturers in India to outsource engines and chassis for its global manufacturing operations, according to a board member. "We are impressed with the quality of die casts and forgings in India that we use for our global operations. The quality of products from second- and third-tier is impressive," said Ind Herbert Diess, who is on the BMW AG board.
French carmaker Renault on Thursday posted a net loss of 2.7 billion euro for the six months ended June 30 as all its major markets shrank due to the global economic meltdown.
US carmaker General Motors on Tuesday said it has won J D Power Asia Pacific 2008 award for its two cars Chevrolet Spark and Aveo U-VA produced by its Indian subsidiary.
India's Tata Motors could sign a deal with Ford to buy the US carmaker's Jaguar and Land Rover marques as early as next Wednesday or Thursday, people familiar with the deal said on Tuesday.
Ralf Schumacher will race for Mercedes in this season's German Touring Car (DTM) championship after leaving Formula One last year, the carmaker said on Monday.
The Jaguar has 11 different types of F-Paces in different engine and style combinations that start from a Rs 40-lakh petrol variant and go up to a V-8 engined convertible that can cost Rs 2.8 crore.
Martin Winterkorn, the former boss of Volkswagen who quit last month, will step down from his remaining posts related to the company.
The company is also expanding its current portfolio in the country and will launch a new model, Phantom Coupe, this year, expected to be priced over Rs 3.5 crore (Rs 35 million). The BMW group company is currently developing the new range of cars at its facility in Goodwood, England.
US carmaker Ford Motor Co, which aims to enter the Indian small car market by 2010, plans to make the country a regional hub for exports, both for the cars and engines.
German luxury carmaker BMW is stepping up its network expansion in India, specially in Tier II cities like Coimbatore, Jaipur and Lucknow, in its bid to claim the top spot in the luxury car market by 2010.
The company had introduced the AGS technology in India with Celerio and it currently offers it in Alto K10 and WagonR also.
The company has tied up with scrap dealers across India to dispose of old cars exchanged for new cars and is welcoming customers to come with old cars of any make for exchange. The company has started giving offers to customers worth up to Rs 40,000 while purchasing a new car through exchange, while inviting bids from scrap dealers at the same time for the old cars.
Carmaker Ford India on Wednesday said it will launch its small car in the country during 2010. "We are working on the small car programme and will be launching it in 2010," Ford India vice-president (Marketing Sales and Service) Scott McCormack said.
Carmaker Honda Siel Cars India on Thursday launched an advanced version of its premium sedan Accord with a 3.5 litre i-VTEC engine, priced between Rs 24.8 lakh (Rs 2.48 million) and Rs 25.35 lakh (Rs 2.535 million), ex-showroom, Delhi.
The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors. UBI offers car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent, Tata Motors said.
Maruti Suzuki India, the country's largest carmaker, may after all do what everyone expects it to: take on Ratan Tata's Nano with its own low-price car. For long, there has been a will-they-won't-they kind of speculation about how Maruti will protect its entry-level consumer base from the Nano, whose lowest variant is likely to cost Rs 1 lakh in some places and about Rs 1.26 lakh in some others. The higher variants may cost Rs 1.5 lakh or more.
Audi India of German luxury carmaker, Audi, is planning to offer its new imported A4 model at the CKD (complete knock down) version price. The price difference between the existing A4 model, when the company started assembling in November last year, and the imported version was Rs 2.1 lakh.
If you want to be serious in India, you must not cross $3,000 in product cost.
Most of the leading vehicle manufacturers were before the court, though their stand was not identical and sometimes contradictory.
Ford is looking at multiple platforms to drive into India's small car market.
Mahindra & Mahindra, the Indian carmaker, confirmed Tuesday that it had pulled out of a $1bn joint venture with Renault and Nissan to set up a factory near Chennai.
The company, which is eyeing the top spot in the Indian luxury car segment, today unveiled its new 3 Series sedan, whose petrol version is priced between Rs 26.90 lakhs (Rs 2.69 million) and Rs 32.9 lakh or rs 3.29 million (ex-showroom), and the diesel variant between Rs 29.5 lakhs (Rs 2.95 million) and Rs 30.5 lakhs or Rs 3.05 million (ex-showroom).
The company sold 62,515 vehicles in December 2007 which includes 4,114 units of exports
If one leaves aside 2016, when sales declined 4.68 per cent, the pace of growth in 2018 is the slowest in a decade, according to IHS Markit, a sales forecast and market research firm.
Formula One champions Renault announced a $50 million programme of long-term technology investment on Monday after slipping behind their main rivals on the racetrack this season.
"We are training about 100 people in research and development area at Suzuki Japan. They have been sent to Japan for two years and would come back in batches between 2008-10," Maruti Suzuki India's executive director (HR) S Y Siddiqui told PTI.
Luxury carmaker BMW India and ICICI Bank signed an agreement on Friday for offering financing solutions.
The country's largest carmaker, Maruti Suzuki, on Thursday reported 9.95 per cent decline in sales during December last year at 56,293 units against 62,515 units in the same month of 2007.
Carmakers seem to be driving in the right lane with their new models, with three of the new launches - Maruti Swift diesel and Mahindra Renault Logan as well as GM's Chevrolet Aveo U-VA - finishing on the top of their segments in a customer satisfaction survey.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
After a spectacular takeover of Corus, Tata Steel has made a hostile offer to acquire Brazilian iron ore miner AVG, which is owned by global mineral giant MMX. The Steel Business Briefing quoted a MMX president Eike Batista as saying that the domestic steel giant has made the offer. AVG was purchased by MMX last year for $224 million. Its current capacity is around 2.3 million tonnes per year.
Maruti Udyog Ltd, India's biggest carmaker, on Monday said domestic sales grew 10 per cent at 40,175 units in July 2004 as its compact cars notched up impressive numbers.
The company's largest selling sedan 'City' will be cheaper by Rs 19,000-Rs 21,000, while 'Civic' will cost Rs 29,000-Rs 31,000 less, an HSCI statement said. Top-end sedan 'Accord' will be cheaper between Rs 27,000 and Rs 28,000, it added.
