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 Insurance Regulatory and Development Authority on Wednesday announced that it would lift pricing controls on motor insurance, along with other lines of business currently under tariff, with effect from January 1, 2007.
Insurance regulator IRDA on Monday said that policy holders will gradually have to pay more for motor, health and other general insurance covers as costs would go up due to companies setting aside higher funds for claim settlements.
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.
The US-based auto maker told the government an internal probe had revealed the company had violated testing targets
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
Sources close to the development said the three companies have sought permission from the Insurance Regulatory and Development Authority for new motor insurance products and are expected to launch the add-on covers in the first week of January. Add-ons are expected to be in the form of a replacement vehicle or payment on a daily basis when the vehicle is out for repair, and reduced or zero depreciation.
Inspiring story of America's iconic CEO.
The new hatchback will likely be powered with either 1.2 litre or 1.4 litre petrol engine.
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.
Displaying 'ARMY' on private transport is an attempt to milk the respect and reverence that the common citizen has for a person in the armed forces, observes Colonel K Thammayya Udupa (retd). By writing 'ARMY' and displaying regimental insignias, we expect a few misdemeanours to be overlooked.
The company's domestic market share is down to low single digits from nearly 15 per cent a decade ago and its bread-and-butter commercial vehicle business faces a slowdown as well as intense competition.
GM has also exited from four other international markets, including Russia and Europe.
The dealers operating in the space have jumped nearly three times over the past two years.
Global auto companies are investing huge money to build infrastructure in the country despite the slowdown.
Cars have just got dearer with major automobile firms, including Maruti Suzuki India, Hyundai and General Motors, increasing prices this month in order to offset rising input costs.
An executive of HM, which supplies auto components to leading car manufacturers in the country, said there was a general slowdown in the auto components business as major automobile manufacturers had resorted to production reduction. When asked which areas HM was likely to enter for its non-auto business, the executive said that infrastructure, power transmission and the railways were prospective sectors.
General Motors used the Auto Expo 2012 platform wisely and introduced its much anticipated MPV.
US-based General Motors plans to launch 40 new products in international markets including India, where it is focusing on a turnaround.
Iffco Tokio General Insurance is hoping to step up growth by focusing on motor and health insurance.
Hit hard by rupee depreciation, automobile companies including Toyota and General Motors, are keeping options open to increase prices of their vehicles.
Move to be aimed at reducing subsidies on the fuel.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
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.
Firms are enthused at passenger vehicle numbers but high interest rates a problem.
Irda to raise provisioning norms to 163-213 per cent.
While the country's largest car maker, Maruti Suzuki India, said its car will become costly by two per cent, Hyundai Motor India said it will result in a price rise of Rs 6,500-25,000 on average.
December car sales data was a mixed bag. While some reported growth in sales other saw a dip. This probably can be because customers are waiting for a rate cut from RBI.
The car is powered by a 1-litre petrol engine.
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.
It has been seven months since the iconic motorcycle manufacturers, Harley-Davidson and Triumph, embarked on their journey in India with the backing of partners Hero MotoCorp and Bajaj Auto. According to data shared by the Indian majors, both brands are already creating ripples in the above 350cc category. The increase in sales has prompted a ramp-up in production and even the doubling of retail touchpoints for one of them.
The project has already entered the design stage, and the company has asked its part suppliers for initial cost estimates.
Automobile manufacturers are offering freebies, ranging from gold coins and LED televisions to record discounts, to push petrol vehicle sales.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
The Ambassador or Amby was the first car manufactured in India.
The recall will cover cars manufactured between 2008 to 2012 that use safety airbags made by its supplier Takata
Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
Bangalore-based Toyota Kirloskar Motor Pvt Ltd, a joint venture between Kirloskar Group and Toyota Motor Corporation, has decided to introduce the newly-developed sedan on the Etios platform, ahead of its much-awaited small car.
The new year has brought good news for almost all car manufacturers, with market leader Maruti Suzuki, Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors and even Fiat, posting their highest monthly sales since their inception.
