The rise of China and India as car consuming countries and fall of major US automakers last year are candid reflections of the restructuring of the global auto industry, a Congressional report has said.
General Motors India on Tuesday said sales touched a record 3,207 units in September, the highest in a month since its inception and a growth of 60.2 per cent over 2,001 units sold in the same month last year.\n\n
Core retail segments like motor and health continue to report strong growth of 19-20 per cent with competitive intensity still visible in the motor OD (owner driven) segment. Commercial lines reported muted growth. Group health remains a key driver. Among the listed companies, ICICI Lombard continues to trail in the motor section while Star Health has lost its Y-o-Y retail market share although its better on a sequential basis.
General Motors India said on Friday that its car sales surged by 192.7 per cent in July 2003 to 1,935 units from 661 units a year earlier.
General Motors India on Tuesday said its car sales soared by 77.3 per cent in June 2003 on the back of a surge in demand for the mid-size car, Opel Corsa.
General Motors India said on Wednesday that its vehicle sales rose by 41 per cent in May due to a surge in demand for the mid-size Opel Corsa.
'It is difficult to write business internationally, without an 'A-' rating. It becomes more expensive.'
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
General Motors India on Wednesday reduced its car prices by Rs 24,800-Rs 43,000 following the eight per cent cut in excise duty in the 2003-04 Budget.
Advait Rao Palepu reports how a recent Supreme Court order will impact motor vehicles insurance policies.
On Sunday morning, the sun shone brightly on vintage cars parked in symmetry on the grounds of ITC Maurya in New Delhi. The owners were making sure the old beauties turned up spick and span for a rally organised by ITC Hotels in partnership with the Heritage Motoring Club of India. The rally would end at ITC Grand Bharat in Gurugram, Haryana, later in the day.
Tata Motors is stripped off India's most valuable company tag.
Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body Siam said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 331,278 units last month compared to 293,303 units in April 2022. Market leader Maruti Suzuki India dispatched 137,320 units to dealers last month against 121,995 units in April last year.
US car maker General Motors on Monday launched its luxury sedan Chevrolet Cruze in India at an introductory price ranging from Rs 10.99 lakh (Rs 1.09 million) to Rs 12.45 lakh or Rs 1.24 million (ex-showroom, Delhi).
Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year.
American car makers are know for it but Indian manufacturers are soon catching up with the trend.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
The RBI on Thursday lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
Asked if it is looking at the Maruti 800 and the Chevrolet Spark segment, Nigel E Wark, executive director, marketing, sales and service, Ford India, said: "Yes, we will be launching the small car in this segment broadly, but there are sub-segments and this is where we will differentiate ourselves. We will be competing in the largest volume segment. India and China are the two markets where small cars are in huge demand and we will be focusing on these countries."
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
Jagdish Khattar, Maruti Suzuki's managing director, talks about the need for small cars, global players expanding in India, and why his company will prosper.
The company wants to exploit the space further as the online medium is the most cost-efficient advertising option compared to print and television.
There was no sale of premium sedan Kizashi during the month.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards. ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.
Chevrolet Beat Activ Concept debuts a new design language for GM India
Any unexpected expense can disturb the finely-balanced budget of middle-class individual. That's when a motor insurance policy comes as a saviour
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
The Korean company has sold over 1.36 million cars and has exported 535,000 units.
Auto major Mahindra & Mahindra on Friday said it will hike the prices of its passenger cars and commercial vehicles by Rs 6,000 to Rs 20,000 from October 1, partly to offset higher input costs and depreciation of rupee against the dollar.
Japanese auto major Nissan recently appointed Takayuki Ishida as managing director of its Indian subsidiary Nissan Motor India Private Limited (NMIPL).
The regulator has made it mandatory for insurers to have a minimum percentage of motor third-party business underwritten.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
Stung by its indifferent show in India, the Detroit giant is overhauling the entire line-up of cars.
The sources said the talks are focused on sorting out certain issues relating to cost component, weapons package and technology sharing.
The components would cater to GM facilities worldwide, said Karl Slym, president and managing director, GM India.
The major highlight of this New BS IV model will be the 2.0L 4-cylinder TCDI diesel engine.
