Want to know why Pratap Bose, Chief Creative and Design Officer at Mahindra Global Design thinks so?
Auto major Fiat Chrysler Automobiles (FCA) on Wednesday said it will invest $150 million (around Rs 1,103 crore) to set up a global digital hub in Hyderabad to help the group develop new technologies to cater to its automotive operations across the globe. The facility, which is FCA's largest digital hub outside of North America, would create nearly 1,000 jobs by the end of next year.
General Motors sees a profitable, if risky, path in gaining Chrysler's revenues and slashing costs.
General Motors Corp and Chrysler LLC have reopened merger talks, as Chrysler owner Cerberus Capital Management LP has signalled its willingness to give away part of its ownership in the auto maker, a media report said today, citing people familiar with the goings-on.
Ailing auto maker Chrysler is preparing to file for bankruptcy protection as early as next week, irrespective of whether the company reaches a deal with its lenders or forges an alliance with Italian entity Fiat SpA, says a media report.
TCS will deliver application maintenance and support services to Chrysler. The IT services initiative will encompass a portion of the functional areas within Chrysler such as sales and marketing and shared services.
Dr Wilfred Aulbur, Managing Director and CEO, Daimler Chrysler India, said the company had till August this year sold 290 'S' Class, 790 'E' Class and 540 'C' class cars and 70 CBU.
Having brought its entire Mercedes Benz line to India, DaimlerChrysler is now contemplating bringing its Chrysler range of vehicles as well.
Citing people familiar with the matter, the report said the banks were discussing lending Fiat the money to buy a 41.5 per cent stake in Chrysler held by the United Auto Workers' healthcare trust Veba.
Less than a week after sealing a deal with Chrysler to form a partnership, Fiat CEO Sergio Marchionne visited Berlin to try to convince Germany's political leaders of his plan to create a European car giant with the acquisition of General Motors Corp's Opel unit.
Following the rise in outsourcing of manufacturing of auto components to India by global auto majors, German auto giant DaimlerChrysler has placed a Rs 100 crore worth order with Sigma Vibracoustic India Ltd for supplying anti-vibration components.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
Unions representing the majority of workers at Fiat Chrysler in Italy rejected a strike called by an independent labour group in protest against the huge sums of money spent by Italy's Juventus soccer club to sign Cristiano Ronaldo.
The auto giant has approached the govt and offered to sign an agreement promising to use the domain name with caution
DaimlerChrysler India, which has a jatropha bio-diesel programme in place, said it would test its cars using the alternate fuel in Leh and other regions of the Himalayas.
US auto major Chrysler on Friday said it has received four billion dollars as emergency loan from the government, a move to avert a collapse of the ailing automaker.
DaimlerChrysler plans to buy 26% of the bus body builder Sutlej Motors. The two companies will then jointly manufacture buses for the Indian roads.
Of the recalled models, 649,900 are in the United States, 28,800 are in Canada, 12,800 in Mexico and 100,800 outside of North America.
Italian car maker Fiat is in talks to acquire 35 per cent stake in ailing American auto major Chrysler, says a media report.
The company said it will directly contact affected customers and make the repairs for free.
Automaker DaimlerChrysler on Tuesday said it will buy more components from India for its operations in other countries such as Japan, Germany and the US.
This will help M&M secure a stable line of dealerships fairly quickly, which otherwise is time-consuming and painstaking. Chrysler LLC last month decided to terminate business with 789 dealers -- nearly 25 per cent of its total dealership -- as part of its restructuring process. Mahindra is moving into the US at a time when recession has forced companies to slash jobs, pushing auto sales to the lowest in three decades.
Bankruptcies of automakers General Motors and Chrysler could cost as many as quarter million people their jobs over the next year and a half, a media report says.
Orissa is truly shining. Its new found status as an investment destination has seen a significant increase in the customer base for various luxury products.
Continuing its strategy of introducing new cars into the Indian market, DiamlerChrysler India Ltd on Wednesday announced the launch of the E 270 CDI in the country.
Noting that the talks between GM and Cerberus Capital Management, the private equity arm that owns Chrysler, began over a month ago, the New York Times said, 'negotiations are not certain to produce a deal.' Quoting two people close to the process, the newspaper said that chances of a merger were "50-50" as of Friday and "would most likely still take weeks to work out."
Luxury carmaker DaimlerChrysler India on Tuesday launched a variant of 'E Class' and said it plans to wipe out its accumulated Rs 280 crore loss in the next 3-5 years.
American car maker Chrysler is in talks with the Tamil Nadu government to set up a greenfield facility in the state. The company has agreed to send a team to Tamil Nadu to study the feasibility of the project in the state. While the discussion with the Tamil Nadu government is at very early stage, a senior official in the government said that Chrysler was looking at expanding its operations in Asia and India is one market the car maker is keen to enter.
Eyeing the projected 15 per cent growth in the luxury car market segment, DailmerChrysler India Pvt Ltd, makers of Mercedes-Benz cars, has decided to set up a new plant in Pune to enhance its manufacturing capacity.
The world number one golfer finished on 12-under 201 to lead Tommy Armour III by one stroke at the Chrysler Championship after three rounds.
German-US carmaker DaimlerChrysler on Friday said it would set up a second plant in India in or around Pune, as the company expects the market for high-end products to grow as also launch new products.
The Financial Times report citing Altavilla's court testimony stated that, "Fiat will name chief executive Sergio Marchionne, Alfredo Altavilla, its head of business development, and Lucio Noto, former vice-chairman of ExxonMobil, to the board of new Chrysler." Altavilla also said Marchionne should be named chief executive and "spend a substantial amount of time in Detroit."
DaimlerChrysler India Wednesday unveiled the latest edition of S-Class vehicles with a price tag of Rs 70 to 72 lakh and M-class vehicles, between Rs 55 to 60 lakh, for the Indian market at the Mercedes-Benz Brand Showcase in Mumbai.
The sales growth of the Mercedes-Benz cars maker in India in 2005 was 5.5 per cent, while it was 11 per cent last year (2006).
FCA has alleged that the Roxor, which M&M imports in the US from India as knocked-down kits, was "a nearly identical copy of the iconic Jeep design", adding that the product was modelled after the original Willys Jeep.
Daimler Chrysler, makers of Mercedes Benz cars, said on Tuesday it expected to make its new manufacturing unit near Pune operational early next year with an annual production capacity of more than 9,000 units.
Exor, the investment holding of Italy's Agnelli family, owns nearly 30 percent of Fiat Chrysler (FCA) and 64 percent of Juventus. FCA and Juventus are completely separate entities, each managing their own finances and operations.
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