Maruti Suzuki India (MSIL) will issue equity shares on a preferential basis to parent Suzuki Motor Corporation (SMC) to acquire 100 per cent stake in the latter's Gujarat plant. This deal is expected to increase the share base of MSIL by about 4 per cent. And consequently, it will raise SMC's shareholding in Maruti by around 1.8 percentage point. "Whether it is in terms of PAT (profit after tax) or earnings per share (EPS) or dividend per share (DPS) of MSIL, the share-swap option will give shareholders a better deal than any other option such as cash payment," MSIL chairman RC Bhargava told reporters during a press conference.
Chevrolet's India strategy for 2007 doesn't end with the Spark.
General Motors, the world's biggest carmaker, on Tuesday rolled out its small car Chevrolet Spark in India as it takes on market leader Maruti Suzuki in one of the world's fastest growing automobile markets.
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
Auto major General Motors India on Friday launched its premium hatchback car, the 1.2 litre petrol Chevrolet Aveo U-VA at Rs 3.99 lakh (ex-showroom Delhi).
What India needs is a not cheap car, but more fuel-efficient cars. It also needs to make its public transportation better.
General Motors India (GMI) on Monday launched a variant of its sports utility vehicle 'Chevrolet Forester' to tap the growing SUV market in India.
General Motors India on Thursday cut prices of critical spare parts of two of its best selling models Chevrolet Optra and Tavera by as much as 26 to 52 per cent.
Aditya Vij, President and Managing Director, General Motors India, launched a special edition of Chevrolet Optra in New Delhi.
Spark will be targeted to cut a major slice of the growing small segment pie.
Floods in Gujarat caused a Rs 30 crore (Rs 300 million) loss to General Motors India and the company said it expected sales performance to be hit, for the second consecutive month, in July.\n\n
General Motors has said that it will launch a second small car in India in the next two years as it looks at emerging markets to make up for sluggish sales in the US. A late entrant in the country's small car market, GM sells the Chevrolet Spark at around Rs 300,000.
An insurance company is liable to pay compensation to the accident victim's kin even if the driving licence of the offending vehicle's driver has expired and not renewed, as an expired licence would not make him an unskilled driver, the Bombay high court has said.
Carmakers usually come up with such year-end announcements.
Automobile sales in India started on a high note this fiscal with cars and bikes witnessing an over 16 per cent surge in demand in April even as commercial vehicles saw numbers gain to the maximum, rising by a whopping 68.5 per cent.
The company also plans to launch luxury sedan Chevrolet Cruze in September and a mini car by the end of this year. Earlier this week, the company had said its India operations will remain unaffected despite its parent filing for bankruptcy protection, but it is currently facing difficulties in raising funds for completing its engine manufacturing plant at Talegaon in Maharashtra.
General Motors India on Wednesday said its sales grew 42 per cent in February 2005 and announced that expansion of its Halol plant would be completed later this month.
General Motors on Saturday launched its new sedan, Chevrolet Aveo, positioned as an entry-level mid-sized car and said it is eyeing total sales of 50,000 vehicles in the Indian market this year.
General Motors India would double its production capacity to 60,000 units per annum by March this year, a senior company official said on Thursday.
Riding high on record sales of 3207 cars in September 2004, General Motors India is setting up a call centre to provide hassle-free services.
German auto giant Volkswagen has asked its joint ventures in China to slash costs by $500 million by the end of 2005 to face an expected profit drop due to intense competition, especially from General Motors, the state media reported on Tuesday.
The Indian subsidiary of US auto giant General Motors Corp will launch a premium sedan Chevrolet Optra later this month, making India the second country in the world after South Korea where this vehicle would be produced locally.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
General Motors India on Wednesday launched a special edition version of premium mid-size car Chevrolet Optra to strengthen its position in the entry-level luxury segment.
General Motors India on Tuesday reported a 74 per cent sales growth to 1,401 units in April 2004 over 805 units in the same month last year and said it would bring in more 'Chevrolet' models.
