The new factory of car major Skoda at Aurangabad in Maharashtra would begin operations by the third week of January 2004 and produce nearly 15,000 high-end luxury cars annually in 'completely knocked down' condition.
With the central sales tax holiday enjoyed by it in Uttar Pradesh coming to an end, Honda Siel Car India has hiked the price across different models by up to Rs 5,000.
India is now the new battleground for two of UK's ultra luxury car makers.
The company's wholly-owned subsidiary BMW India has a manufacturing facility in Chennai, which had an installed annual production capacity of 3000 units before the addition.
The exercise part of drive to combine operations under single firm.
However, bookings for 13 cars had been completed in India, Rod Wallace, Managing Director of Precision Cars India, official importer of the Porsche range of cars, told PTI in Chennai.
Responding to a question on whether Tata-owned JLR was in talks with the UK government for a bailout package, Mandelson said it was too early to judge whether the state would be willing to help Jaguar Land Rover, which employs around 15,000 workers.
Mercedes Benz just about managed to keep its neck ahead last year, with a lead of 537 units over BMW, according to data available with the Society of Indian Automobile Manufacturers. However, handicapped by inadequate vehicle kits for the first nine months of this year for one of its models, a senior company executive stated it is unlikely Mercedes Benz will be able to surpass its own total posted last year. Mercedes Benz India sold 3,445 units last calendar year, while BMW s
Following a successful year in the country, global luxury car maker BMW plans to expand its dealer network in India. While the German giant is considering metros and mini metros in the first round of expansion, it would also target tier-II cities with high consumer spending, Peter Kronschnabl, president, BMW India, said on Wednesday.
The models of the company include flagship sedan City, hatchback Jazz, premium sedan Civic and sports utility vehicle CR-V.
The company also said it will set up separate showrooms for the brand and aims to have up to 12 dealerships across the country for the Mini in the coming years.
Honda Siel Cars India hopes to achieve a nearly 32 per cent rise in turnover this fiscal to Rs 1,500 crore (Rs 15 billion) on the back of increased volumes, company officials said on Tuesday.
The agency had earlier questioned actor Jacqueline Fernandes in this case. She is expected to depose again before the agency on Thursday.
BMW confirmed it would leave Formula One racing at the end of 2009 for image reasons as the maker of sporty luxury cars wants to focus on sustainability and the environment.
Except for March, when BMW recorded unusually high sales, Mercedes sales were ahead in the other months.
Audi India managing director Benoit Tiers has his task cut out.
For at least 13 years, big and small investors alike turned over their money to Paul Greenwood and Stephen Walsh, two New York money managers, in the belief that an "enhanced equity index" strategy was reaping them profits.
The most marked development of the year was the Rs 10,000 crore (Rs 100 billion) Satyam financial scam, disclosed by the founder B Ramalinga Raju, forcing the government to redraft rules for corporate governance and auditing standards.
These cars certainly make luxury come alive. They look great, they feel awesome and they can zip by at a sped of 200 miles per hour (322 km per hour). But, they all come at price exceeding $ 1 million.
The new Porsche Cayenne Diesel will not come to the Middle East and Asia right away, but talks are underway with Germany to attempt to secure the vehicle for this market, Porsche said in a statement
Expressing satisfaction at Indian conglomerate Tatas' move to pump in money into Jaguar Land Rover, the head of the UK's biggest union Unite, Tony Woodley, has said he expects the Gordon Brown government to offer financial aid to the luxury car maker.
JLR is looking to increase sales point in India to 20 by the end of the fiscal from the current four.
Germany's Daimler AG, known for its luxury cars and high-end commercial vehicles, has pulled out of the race to acquire a strategic stake in the Delhi-based commercial vehicles maker Eicher Motors.
In a five-part weekly series that begins today we explain the first of the five building blocks of financial planning.
In a statement correcting media stories that appeared on Sunday suggesting its plants would be shut for longer, a company spokersperson said, "The reality is that our annual summer shutdown begins at the end of next week (July 23) as scheduled and will last for two weeks, with the plants due to restart on August 10. This two-week break is actually a week shorter than the traditional three-week break our plants have previously had."
Ashok Malhotra, the alleged kingpin of a multi-crore land scam, was arrested by the CBI on Monday.
The vehicle will be available in both petrol and diesel variants.
India is adopting a 'wait and watch' approach after the installation of the new government in Pakistan, the minister of state for external affairs told reporters in New Delhi.
Although not much is spoken about financial infidelity, it is becoming more and more common these days. Financial planner Amar Pandit charts a four-point plan on how to be financially loyal to your spouse
Tata Motors is stripped off India's most valuable company tag.
Audi, the German luxury car manufacturer, announced on Thursday the launch of the new Audi A6, the world's most successful business sedan, in India.
Harbhajan Singh, after being purchased by the Mumbai Indians for a whooping $850,000 (app. Rs. 3.4 crore) to play in the Indian Premier league said he planned to by a Hummer, the tank-like vehicle that is a rage. After being banned from the IPL, one wonders whether he will buy that dream car.
Want to own a Merc or Beemer but can't afford it? Here's your chance. With luxury car makers getting ready to launch upgraded versions of models, dealers are offering discounts ranging from Rs 1 lakh to Rs 4 lakh on models that are being phased out to clear inventory.
Dubai's police has been building up its vehicle fleet recently, and it's not worrying about cost.
Luxury car maker Mercedes-Benz India plans to increase its headcount by up to four-fold at the research and development centre in Bangalore in the next few years and will invest Rs 150 crore (Rs 1.5 billion) together with its partners for expanding distribution network in the country.
'This remains an accident and an accident is not a crime. They do happen, unfortunately.'
They were touted as prestigious takeover trophies won abroad, but there is no mention of the Tatas at the Internet addresses of luxurious car brands Jaguar and Land Rover.
German luxury car and bike maker BMW, which has been shying away from re-entering the Indian motorcycle market, is now looking to source parts for engines and chassis for its high-end two-wheelers from the country. BMW has started sourcing from India in a small quantity for cars as well, like software parts and has been closely working with vendors such as Mico Bosch and Conti.The BMW group on Tuesday reported a net profit of 3.13 billion euros in 2007.
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