In 2006, components worth $2 billion, around Rs 90,000 crore were exported by Indian companies, 75 percent of which were bought directly by car companies.
After turning around the fortunes of the iconic Land Rover, Tata Motors on Tuesday said that it plans to start assembling the high-end SUV in India from next year.
Ford said its Jaguar F1 team would pull out at the end of the 2004 season and its Cosworth engine company was also up for sale.
As part of Ford Motor Company's crack research and development team, he helped the US car maker launch its popular hybrid car Excape.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
The India foray of the two brands, which debuted in 1922 and 1948, respectively, has been hastened by their new Indian owner, Tata Motors, which took over in 2008 from Ford Motor Company of the US. The spokesperson said Tata Motors would be the distributor of these brands in India.
According to CITU, around 90% of the 1,723 workers of the Sriperumbudur plant are participating in the strike. Samsung said it is ready to talk to employees and not a third party like CITU.
An acquisition by Tata AutoComp may cost $1.5-2 bn.
Of the 15 car manufacturing companies in India, eight have a market share of below 2 per cent, raising questions about their long-term future in a competitive market that has already seen Ford Motors and General Motors slam the door on India.
American automaker Ford on Thursday said that it had withdrawn plans to manufacture electric vehicles (EVs) in India and it won't invest in the country under the performance-linked incentive (PLI) scheme. "After careful review, we have decided to no longer pursue EV manufacturing for exports from any of the Indian plants. "We remain grateful to the government for approving our proposal under the PLI and for being supportive while we continued our exploration. "Ford India's previously announced business restructuring continues as planned, including exploring other alternatives for our manufacturing facilities.
If a new study is to be believed, female drivers will be safer in an accident than their male counterparts because of the fact that females have thicker skull than men.
An unhappy, restive mood prevails at the Ford factory Maraimala Nagar, 50 km from Chennai, and the surrounding area. The security is tight - not just Ford security personnel but also Tamil Nadu state police who are posted at the main gate. From September 9, when Ford India announced it was phasing out its units in India and leaving, workers at its manufacturing unit at Maraimala Nagar have held onto one hope: that the state government will step in to save their jobs.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Volvo will hold discussions with its parent company to start assembly operations in India by the end of this year.
After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. "We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty.
The transaction - the second one in less than a year - is seen as an effort to restore investor faith in the company following a dismal performance by its UK subsidiary, Jaguar Land Rover Automotive.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
While offering discounts of up to Rs 1 lakh, Hyundai, Ford and Honda are also hiking prices by 1-2% from January, Swaraj Baggonkar/Business Standard reports from Mumbai.
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," the Mumbai-based company said in a statement.
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
The new year will see a line of hatchbacks (including compact SUVs) hit the Indian roads. Rajesh Karkera/Rediff.com offers a peek.
There is another common trend among these three players - they are all registering a volume decline in a market that is expanding at over 8 per cent
Stunning cars from the Mumbai International Motor Show.
As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
Ford is among several multinational automobile companies in India for whom exports now bring bigger volumes than local sales.
The company, which had launched the model last year, has so far sold more than 60,000 units of the SUV in the country.
Auto manufacturers have been recalling vehicles on safety issues.
George Acland from Great Britain ran a coffee plantation in Sri Lanka and set up India's first jute mill in 1855. He raised capital and imported the machinery for the mill on the banks of the Hooghly in West Bengal. His company wasn't a great success, but his pioneering work paved the way for India to dominate the jute industry.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
Global expansion to drive the company's fortunes
In August, Steve Ballmer said he would retire within 12 months.
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