General Motors, the world's largest carmaker, has said it would set up an R&D centre in Bangalore, the first outside the United States, with an investment of $21 million.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata
Production was halted at the Halol plant of General Motors in Gujarat because of heavy rains, a senior company official said on Thursday.
General Motors on Saturday celebrated the relaunch of its Chevrolet brand with the United States Ambassador David Mulford assuring that the American market will be open to Indian goods.
GM India has last week announced plans for launching four new models in the Indian markets in 2010. "The new mini-car will be in the market by January next year and we will produce more than 40,000 units in the first year. Of this, we will export 20 per cent overseas, including to the European and the Asia-Pacific markets," GM India president and managing director Karl Slym told reporters on the sidelines of the SIAM annual convention in New Delhi.
The company, which is also looking to strengthen its position in the sports utility segment, today launched the automatic transmission four-wheel drive version of its popular sports utility vehicle Captiva, priced at Rs 20.3 lakhs (Rs 2.03 million). He said the company will be launching an LPG-driven car in the first half of this year, without specifying details, adding it would be followed by other LPG vehicles.
Honk Kong Stock Exchange-listed Great Wall Motor explores sites at Sanand & Halol.
The Spark will be available for Rs 2.79 lakh (ex-showroom Delhi) compared with its usual price of Rs 3.32 lakh. Hyundai Motor India (HMIL) will offer a discount of up to Rs 40,000 across various models till the end of next month aiming to cash in on the festive season.
Hyundai Motor India and General Motors have announced cuts in prices of their small cars, following the finance minister's announcement of excise duty reduction on small cars
General Motors India on Tuesday reported a 58 per cent rise in sales in April at 2,214 units, fuelled by healthy demand for its multi-utility vehicle 'Chevrolet Tavera'.
The Kerala High Court has criticized both the ruling front and the opposition in the state for holding public meetings that block public roads and footpaths. The court observed that the December 5 incident, where the CPI(M) held a conference outside the Vanchiyoor court complex in Thiruvananthapuram, was a "clear case of breach of trust" as the government holds the roads as a trustee of the people. The court has directed the police to submit a report by December 16 identifying those involved in the meeting, including those who attended and were seen on-stage in news reports. The court also pointed out that the stage for the meeting was constructed right on top of the pedestrian/zebra crossing, completely blocking the carriageway on one side of the road. This caused traffic snarls and inconvenienced pedestrians, including school children, infants, and elderly persons. The court said that provisions of the Bharatiya Nyaya Sanhita (BNS) and other laws, like the Motor Vehicles Act, would be applicable to the incident.
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.
Your plans to bring home a dream vehicle may just have become a little more distant, with automobile manufacturers considering price increases to offset the impact of higher excise duty levied in the Union Budget.
General Motors India aims to double its production to 50,000 units even as it expects to clock sales of 20,000 units of all models during this calendar year.
The Indian subsidiary of General Motors is set to register 75 per cent sales growth in the calendar year 2003, and has plans to invest Rs 180 crore.
General Motors India on Wednesday said sales jumped 119 per cent in October 2004 to 2,752 units over 1258 units in the same month last year, largely due to the increased sales of multi-utility vehicle 'Chevrolet Tavera'. \n\n\n\n
As part of the new Central Motor Vehicle Rules, the government is framing a mandatory recall policy entailing penalties.
The vehicles affected by the recall are manufactured between September 2011 and July 2014.
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
'Private General insurers are poised to grow at 17 per cent - 18 per cent over the next 5 to 7 years and we will grow faster.'
The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said.
The car is powered by a 1-litre petrol engine.
Within five months of its launch, General Motor India on Tuesday rolled out a 1.6-litre model of its premium mid-size sedan Chevrolet Optra as part of strategy to double sales to 30,000 units next year.
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.
Thousands of workers of every description -- from journalists to steel workers, from painters to New York cops, from auto to engineering workers -- marched for two hours down 5th Avenue one of Manhattan's most iconic thoroughfares, reports Jyoti Punwani.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
Fuel price hike will impact demand going forward.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
GM has also exited from four other international markets, including Russia and Europe.
The Indira Gandhi Cultural Centre located in Dhaka's Dhanmondi area was damaged by the unruly mob, according to eyewitnesses.
Dynamics of auto business will change if the government ends diesel subsidy to passenger vehicles.
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