A majority of HMIL's current export comprises the i10 model, which is exported to Asia, Latin America and Western Europe. In addition, the company has stated that 90 per cent of the i20 model (a premium hatchback) will be exported. The company will produce 150,000 units of the model annually.
Showing a rift in the Hamara Bajaj-famed two wheeler giant Bajaj Auto, group chairman Rahul Bajaj on Wednesday differed with his son and managing director Rajiv Bajaj's decision to exit production of scooters saying he was not only not convinced but was 'hurt' by it.
Major Indian automobile companies like Tata Motors, Bajaj Auto and Mahindra & Mahindra seem to have put up a robust performance in Q3 FY 10, paying advance tax of Rs 100 crore (Rs 1 billion), Rs 320 crore (Rs 3.2 billion) and Rs 195 crore (Rs 1.95 billion), respectively.
The Digital Twin Spark Swirl Induction technology engine series, says the company, is the world's most fuel efficient engine and will feature in a new motorcycle the company hopes to unveil next month. Company executives hinted it may be featured in a vehicle that falls in the 125-135cc category. Mileage details of the new engine have not been disclosed. The top mileage notched by a 125cc motorcycle is by Hero Honda's Super Splendor, which is about 83 km/litre.
Sebi penalised Shruti Vishal Vora - found guilty of leaking price sensitive information related to financial results of Wipro, Asian Paints and Mindtree, and Parthiv Dalal for similar action in case of Wipro earnings.
Bajaj Auto, once known for its scooters which revolutionised the two-wheeler market in the country, on Wednesday said it will exit the segment by the end of the fiscal to focus exclusively on motorcycles. The company that by and large created the scooter market in the country through its popular 'Hamara Bajaj' campaigns in the 1980s and 90s, today sells just one scooter -- the 100-cc gearless Crystal.
The new bike -- Flame SR 125 -- would be an advanced version of its existing model Flame, which has single spark CCVTi engine. Meanwhile, sources said Flame SR 125 would be available in showrooms from next week.
Pulsar's new variant, to be unveiled next week, will retain the looks of a big bike, but the engine will be 135 cc. Bajaj Auto is launching yet another variant of Pulsar, its highest selling bike, next Wednesday.
Low-base effect to kick in, but higher raw material prices could spoil the show.
Home-grown automotive players like Tata Motors, Ashok Leyland, Bajaj Auto, Hero Honda, TVS Motors and Maruti Suzuki are augmenting the use of plastics in engine components in an ambitious effort to reduce dependence on key metals like steel and aluminium, all of which have witnessed stupendous rise of 35-50 per cent in the past 5 months.
Top gainers in the Sensex pack included Yes Bank, TechM, Bajaj Finance, Bharti Airtel, Maruti, Asian Paints and Hero MotoCorp - rising up to 5.30 per cent. The 50-share Nifty ended 85.65 points, or 0.79 per cent, higher at 10,948.25 points.
Auto component companies -- especially the mid-size and small ones -- are facing an uphill task to stay afloat as banks have become tight-fisted in giving credit and vehicle makers are cutting orders to combat the slowdown in sales.
Hyundai Motor and Toyota Kirloskar Motor have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak. On Sunday, various automakers like Maruti Suzuki India, Honda Cars, Mahindra & Mahindra and Fiat announced a temporary halt in manufacturing operations at their respective facilities.
Bajaj Auto, the country's second largest two-wheeler manufacturer, may cut production as it sees a slowdown in motorcycle sales after the current festival season.
Say lower duties could enhance demand.
Pulsar 220, the fastest bike in India, faces a challenge from new models on speed & style.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
Striking workers lacked support in the Pimpri-Chinchwad-Chakan belt.
Most probably, feel analysts, it would be in the 100-125cc segment. The new Discover 100cc with a DTSi engine, launched last month, is billed by the company as the world's most fuel-efficient motorcycle, with a certified 89 km to a litre of petrol.
Tata Motors drove the Sensex rally for the second session in a row, surging over 8 per cent. Other top gainers were Bharti Airtel, TCS, Bajaj Finance, PowerGrid, IndusInd Bank and State Bank of India -- rising as much as 5 per cent.
Bajaj Auto has phased out the Pulsar 200 model to make way for the new Pulsar 220, as both were priced on a par, despite the latter being more powerful.
The Pulsar 200 AS and 150 AS have been positioned at the youth who want practicality on weekdays and the fun factor on weekends, writes Indian motoring website MotorBeam.
Bajaj Auto, the country's second-biggest maker of two-wheelers, says it will use its famed digital twin-spark plug technology in its compact car, due for launch in 2011.
In the years that the economy boomed and consumers had more money to spend, two-wheeler makers lured buyers with performance and presence. Now, the focus is back on fuel efficiency.
Bajaj family members are in the final stages of reaching a peace formula to their six-year-old dispute over the division of group companies and assets. Sources familiar with the developments said an announcement can be expected in the next 10 days, but did not want to divulge details.
The ultra low cost car (ULC), which will be competing with Tata Nano, aims to better the mileage of 23.6 km/lt, given by the world's cheapest car from the stable of Tata Motors.
German insurance giant Allianz is planning to widen base in India with foray in banking business through its unit Dresdner Bank, besides expanding its existing non-banking financial services.
Production of the 125 cc motorcycle has started in an assembly plant in China, putting the country's second-largest maker a step ahead of competitor Hero Honda, which is also working on a motorcycle reportedly between the Rs 17,000 and Rs 20,000 price point.
Over 800 gather for the India Economic Summit.
The Mumbai-based company will take on Hero Honda, Bajaj Auto and HMSI and will have models in the 100cc, 125cc and 150cc mobike segments, and also in the ungeared low and high-powered scooter segments. Hero Honda has a 60 per cent share of the motorcycle segment, while HMSI commands a 58 per cent of the scooter market. Anand Mahindra said: "Our two-wheeler project is complete; we have already begun marketing the fleet in Bangalore."
There could be some significant changes in motorcycles over the next few years says Shobhana Subramanian.
Keen competition will make the going tough even for market leaders in the segment.
Maharashtra CM Vilasrao Deshmukh declared that the state has received approx Rs 20,000 FDI in the last 3 years.
Even as a court case rages over the alleged intellectual property infringement, Chennai-based TVS Motor on Thursday launched its new 125-cc motorcycle, Flame, which rival Bajaj Auto says is based on its patented twin spark plug technology.
The Bajaj Auto management and its union on Friday came to the negotiating table in a bid to end the four-day-old strike by over 1,500 workers at the Chakan plant demanding wage revision and better working conditions apart from a hefty paring of the companies shares with employees.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
Leading industrialists met with Prime Minister Manmohan Singh (not in picture) in New Delhi on Thursday to discuss the general state of the Indian economy and other industry-related matters.
The country's second largest two-wheeler maker Bajaj Auto Ltd (BAL) on Monday joined hands with Renault-Nissan to launch a small car in India by 2011 that will compete with Tata Motors' Nano on price point - Rs 1 lakh.
Higher input cost is likely to weigh on Auto sector's Q4 numbers.
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