The company had identified some emission-related issue with Tavera and some quality issue with Sail.
GM will join a very short list of S&P 500 companies, including Hershey Co and American Water Works Co, with women serving as CEO and CFO.
General Motors India, 100 per cent subsidiary of General Motors Corporation, on Thursday said the company's entry level Chevrolet Spark has crossed the mark of 3 million customers globally.
"Out of the total sales, we feel that Chevrolet Spark would enjoy major share in total car sales for this year as small cars continue to have largest share in passengers cars market in the country," General Motors India Director (Operations) S Garg told reporters in Chandigarh on Friday.
The mini car is likely to be based on the auto maker's Beat concept, showcased at the New York Auto Show two years ago. It would offer the option of diesel or petrol engines and will be the third small car in GM's offering in the country after Spark and Aveo U-VA. India would be the company's export hub for the mini car, said Karl Slym, president and managing director, General Motors India.
The US government, that invested $49.5 billion in the Detroit automaker to save thousands of jobs at the height of the financial crisis five years ago, lost about $10 billion, Treasury Secretary Jacob Lew said on Monday.
The note mentioned "domestic problems".
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
General Motors, the world's largest automaker, said it would buy South Korea-based Daewoo Motors' assembly unit in India for an undisclosed price.
General Motors India is in talks with the creditors Daewoo Motors India to acquire the car assembly unit of the failed carmaker and has set a timeframe to clinch the deal.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Maharashtra has the highest share - over 16 per cent -- in the motor insurance premium (own damage category) of about Rs 17,098 crore (Rs 170.98 billion) collected as of 2012-13 in the country, whereas Gujarat tops in terms of annual growth rate, an Assocham study said.
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.
Operations of several top companies, located in central and south Gujarat, continued to be affected on Friday with torrential rains lashing several parts of Gujarat for close to a week.
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
Leading manufacturers, including Maruti Suzuki, Hyundai and General Motors, are planning to raise prices of each of their models starting from the last week of this month or early next month.
Production was halted at the Halol plant of General Motors in Gujarat because of heavy rains, a senior company official said on Thursday.
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.
R Balendran, director and vice-president, corporate affairs, General Motors India, said on Wednesday that the company might bring in the SUV as either a completely built unit or a completely knocked down unit.
General Motors Asia-Pacific on Friday announced the appointment of chief operating officer, Rajeev Chaba, as president and managing director of General Motors India with effect from June 1.
Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
General Motors India on Monday launched a new variant of Chevrolet Tavera priced at Rs 599,000.
IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.
The new financial year started on a mixed note for car makers.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
MNC auto firms that sold cars below cost, at a loss, thereby paying lower excise duty are prime targets.
General Motors India on Wednesday launched three new cars in the Indian markets
General Motors India, the 100 per cent subsidiary of the world's largest vehicle manufacturer, has achieved break-even and become a profitable company, a top company official said on Monday.
Farmer leader Sarwan Singh Pandher on Tuesday said the Centre should convene a daylong Parliament session to bring a legislation on the minimum support price (MSP) for crops, a key demand of protesting farmers.
General Motors India on Tuesday introduced a new version of its multi-utility vehicle Chevrolet Tavera, the Elite range even as the company prepares to rev up capacity at its Halol plant to meet rising demands.
A government-instituted panel which probed the extent of non-compliance by General Motors in re-fitting pre-approved engines on Tavera models sent for inspection to meet specified emission norms, submitted its report late on Monday evening, holding the company responsible for corporate fraud.
General Motors Corp. plans to source $1 billion worth of automobile parts from India each year by 2008 as part of cost-cutting measure at the world's biggest automaker, a senior executive at its local subsidiary said Friday.
ICICI Lombard General Insurance on Thursday said it has started offering zero depreciation add-on cover and consumable items add-on cover for motor insurance products.
Global auto giant, General Motors Daewoo has sued a Chinese car-maker for allegedly copying the design of Matiz, one of its small car and is demanding a compensation of nearly $10 million.
General Motors India, the wholly-owned subsidiary of General Motors Corporation, on Friday announced expansion of production capacity of its Halol facility to 60,000 units per annum.
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