Jan 31, 2011

Maruti Suzuki suffers 18% fall in profit

Maruti Suzuki India Ltd, India's biggest carmaker, posted an 18 per cent drop in third-quarter profit as a stronger yen, higher royalty payments and increased raw material prices damped gains from record sales.

Net income fell to Rs5.65 billion (Dh451.71 million) in the three months ended December 31 from Rs6.87 billion a year earlier, the company said yesterday in a statement. Profit fell short of the Rs6 billion average of 34 analyst estimates compiled by Bloomberg. Sales gained 27 per cent to Rs92.7 billion.

Maruti spent 27 per cent more on steel, rubber and other materials in the quarter as rising economic growth in India and China boosted commodity prices. Competition is increasing for the New Delhi-based company as Toyota Motor Corp, Ford Motor Co and other global automakers expand factories and add more models in India.

"Maruti has been seeing pressure on its margins from increased commodity prices," Jatin Chawla, who has a "reduce" rating on the stock at India Infoline Ltd in Mumbai, said before the announcement. "The company was unable to raise prices due to the increased competition."

Maruti fell 3.2 per cent to 1,229.35 rupees in Mumbai yesterday. The stock declined 14 per cent this year, compared with a 10 per cent drop in the Bombay Stock Exchange's benchmark Sensitive Index.

In December 2009, the Indian government lifted restrictions on the payments that can be made to overseas partners, allowing companies such as Suzuki Motor Corp to charge higher royalty fees from their Indian subsidiaries.

The Japanese yen strengthened 2.3 per cent against the Indian rupee in the period, according to Bloomberg data.

Maruti sold a record 330,687 vehicles in the three months ended in December, compared with 258,026 units a year earlier. That included exports of 31,160, it said in the statement. The company raised prices of its models by as much as 2.3 per cent starting January 17, according to Mayank Pareek, managing executive officer in charge of marketing and sales. Tata Motors Ltd, maker of world's cheapest car Nano, Volkswagen and GM have also raised vehicle prices in India to offset rising input costs.

Indian steelmakers including Tata Steel Ltd, Steel Authority of India Ltd. and JSW Steel Ltd. raised prices by about 13 per cent in the last quarter amid rising demand.

Suzuki Motor Chairman Osamu Suzuki said in November that competition in the Indian car market would be "very tough." Volkswagen AG, Nissan Motor Co. and General Motors Co also started selling in India small cars that account for about 78 per cent of the nation's automobile sales.

Ford Figo is the most Awarded Car in INDIA in 2010

Between December and January, Ford India and its popular sub-compact car Figo, together lifted 20 Indian auto industry honours in 2010, making Figo the most awarded passenger car in the country.

Ford topped up the three 'Car of the Year' titles with the prestigious 'Manufacturer of the Year', from a leading, jointly held broadcast and print media house. The definitively popular compact car's laurel journey began with the 'Indian Car of the Year 2011' award – considered the most revered auto industry award in India.

Figo has the largest boot in its segment but is not proving large enough to hold all the trophies that the car has recently won. These treasured honors have come from across the automotive media industry which runs across print, broadcast and web-based mediums. They soon became infectious and garnered tremendous popularity for the brand, building serious recognition and acknowledgment of the Figo's class leading attributes such as space and aesthetic design, best-in-class technology features, fuel efficient powertrains and value for money substantial package - all incorporated to address discerning customers' practical as well as lifestyle needs.

Michael Boneham, president and managing director, Ford India said, "We always believed that Figo would be our game changer but this car has performed beyond expectations. We appreciate that our customers had a wide choice in the market but they chose to buy the Figo. It is they who have immensely contributed for us to win these honors."

Figo attracted thousand of customers, 40% of them, were in fact, first time buyers. Figo saw support and gained tremendous popularity in social networks. Many well-known automotive blogs and websites conducted their independent polls and visitors and customers voted Figo as 'Car of the Year'.

More than 60,000 Figos have been sold since March and Ford India recorded an impressive annual sales increase of 184 percent as compared to 2009.

Ford India saw a favorable growth across nameplates with the Fiesta, Ikon and the Endeavour faring well in their respective segments in the year 2010, the company sold 83,887 units and nearly tripled it sales volume against a total of 29,488 cars sold in 2009.

"It gives us great pleasure to imagine those who bought the Figo would be proud to have made the purchase decision. With such a massive boost in morale, we are confident of crossing more significant milestones in 2011 – something that we are already known for", concluded Boneham

Ford India and Figo won the following awards:
  • All magazine Editor Jury - ' Indian Car of the Year 2011 '
  • Bloomberg UTV-Autocar India - 'Car of the Year 2010'
  • Bloomberg UTV-Autocar India – 'Value for Money Car 2011'
  • Bloomberg UTV-Autocar India – 'Premium Compact Car of the Year 2011'
  • Bloomberg UTV-Autocar India – 'Viewer's Choice - Car of the Year 2011'
  • Bloomberg UTV-Autocar India – 'Ford India - Manufacturer of the year 2011'
  • 2010 ET Zig Wheels 'Car of the Year'
  • 2010 ET Zig Wheels 'Premium Hatchback of the Year'
  • 2010 ET Now 'Viewers Choice Award'
  • BBC Top Gear – 'Small Car of the Year'
  • CNBC TV18-Overdrive – 'Compact Car of the Year'
  • CNBC TV18-Overdrive – 'Viewers Choice Award'
  • NDTV Car & Bike 2011 – 'Small Car of the Year'
  • NDTV Car & Bike 2011 – 'Design of the Year'
  • Business Standard Motoring – 'Special Jury Award 2011'
  • CAR India - 'Readers' Choice Car of the Year 2010'
  • Motor Vikatan – 'Best Car of the Year'
  • Motor Vikatan – 'Manufacturer of the Year'
  • Motorbeam.com - '2010 Car of the Year'
  • TeamBHP.com - 'Car of the Year 2010'

Jan 29, 2011

GM plans entry level small car

General Motors is looking at introducing an entry-level car to be positioned below the Chevrolet Spark, to drive up volumes in the Indian market. The vehicle, likely to be launched in collaboration with Shanghai-based SAIC Motor Corp (SAIC), will be competing with Maruti Suzuki’s Alto, the largest selling small car globally in 2010. Over 300,000 units of the Alto were sold worldwide last year.

Tim Lee, president, international operations, GM, said, “We are looking at having products strategically across segments to boost sales in the Indian market. We working closely with SAIC and looking at opportunities to introduce a product priced lower than the Spark in future.”

The Chevrolet Spark is priced between Rs 3.23 lakh and Rs 4.24 lakh (ex-showroom), on the other hand Alto is tagged between Rs 2.31 lakh and Rs 3.27 lakh.

“India and the rest of the emerging markets are very important to us. The business model after the IPO (Initial Public Offering, of GM shares) is to focus on and leverage on these growth markets,” added Lee. The small car segment, nearly 70 per cent of passenger vehicle sales in India, grew by a third between April and December 2010. Its potential has attracted many companies, such as Japan’s Toyota and Honda Motor, to develop products exclusively for the market here.

This financial year the car market in India recording growth of over 30 per cent, GM has also firmed plans to raise sales to 300,000 units in India by 2013 and has planned to launch six new vehicles in association with SAIC over the next two years. This includes two light commercial vehicles, a sports utility vehicle, a sedan, a hatchback and a notchback.

Even as Toyota Liva, the hatchback the company designed on the Etios platform, is to be introduced here in June, the Honda Brio will follow later this year.

General Motors` sports car Camaro to drive into India

Camaro - the iconic budget friendly sports car from General Motors is set to foray into India. The President of General Motors international operations Tim Lee told FE that the company will launch a right-hand drive for the two-door car. The changes will make it apt for India- the second fastest growing auto market in the world.

Speaking on the purported launch, Tim Lee said, “As we go through the development phase of the new generation Camaro we will try and do a right hand drive. But we will not assemble it here”. He added, “We will not sell a lot of Camaros in India but it will be a brand builder for the company bringing many people to our showrooms”.

Throwing light on the 14-year old history of the company in India, Lee said that its performance had been ‘spotty’ and “inconsistent.” He also added that going forward, the company's focus in India would be to design the best cars and to have a business model which is sustainable and profitable. He said, "We want to be profitable so that we can employ more people in India."

First displayed at the Auto Expo last year, the Chevrolet Camaro was not intended for an immediate launch in India. However, it was expected to fetch a price in the range of Rs 30 lakh plus. This would make the car, the most expensive offering from GM in India; however this ranks as the cheapest sports car in the world.

Chevrolet Beat to have the “Made in India” SMARTECH engine

General Motors India has an engine development and R&D center in Bangalore. The Boffins have come up with the prospective that Chevrolet Beat owners will be able to buy the Smartech 1.2 Liter petrol engine. The SMARTECH engine has been developed in GM’s Bangalore R&D center and it brings in a host of improvements over the outgoing power plant.

Amongst the most important improvements are the low end torque, marginally increased fuel efficiency and less vibes at higher reach of the new ‘SMARTECH’ engine. All this and much more will make the Chevrolet Beat a much more desirable car. Additionally, GM India’s designers have outfitted the SMARTECH engine with an aluminum cylinder head, a deep skirt cylinder block, and lightweight pistons. The DOHC valve-train with direct acting valve actuation is the other improvement.

These improvements are likely to enhance the engine response and smoothness while enhancing fuel efficiency. Besides, there is a low end torque that gets a bump up with a long runner plastic intake manifold. The lightweight counterbalanced crank shaft ensures that vibes are kept to the bare minimum as the rpm hits the 5000 mark. The engine is also embedded with a maintenance-free inverted tooth timing chain drive system. The chain links engage at a lower impact speed, thereby decreasing the engine noise.

Additionally the engine is equipped with an epoxy coating on the cylinder block, anti corrosion coating on cam cover baffles, and the use of stainless steel core plugs. The SMARTECH engine brings these resourceful changes to the table for higher durability of engine components and engine life. All these changes appear very promising and a comprehensive road test of the Beat with the SMARTECH engine would reveal the real on road improvements that the SMARTECH engine has endowed the 2011 Beat with.

GM India targets triple vehicle sales by 2013

General Motors Co.’s India unit aims to almost triple annual sales to 300,000 vehicles by 2013 as India’s economic growth and rising incomes boost demand.

GM plans to launch as many as six models, with two commercial vehicles, in India in the next two years, Karl Slym, head of the Detroit-based company’s local unit, said at a press conference in New Delhi recently. A diesel-powered version of the Beat small car will go on sale in a “few weeks,” he said.

The automaker and its Shanghai-based partner SAIC Motor Corp. will start selling models in India this year similar to those already sold in China. GM entered the South Asian nation in 1994, plans to boost its 5 percent market share with the new range and challenge Maruti Suzuki India Ltd., the country’s largest car maker.

“The biggest additional segment that we go into is commercial vehicles,” Slym said. “In India, 40 percent of the overall sales of the market are in commercial vehicles, and we don’t sell in that market. That is a big, huge growth area.”

India’s domestic car sales rose 29 percent from a year earlier to 148,681 vehicles in December, the Society of Indian Automobile Manufacturers said this month. Total passenger-car shipments jumped 31 percent to 1.87 million last year, according to the group. GM’s sales in India rose 59 percent in 2010 to 110,804, according to the company’s website.

Jan 28, 2011

Hyundai reports record fourth-quarter results

Hyundai Motors announced yesterday it earned KRW1.4 trillion ($1.3 billion) it the last three months of last year. The company is already South Korea’s largest carmaker, but it is also becoming a force to be reckoned with on the global market.

Its aggressive overseas expansion plan in China, India, Turkey, the United States, the Czech Republic and, from late last year, Russia, has made it the world’s fifth largest automaker.

The maker of the Elantra and the popular new Sonata sedan reported the value of its sales rose 3.1 percent in the third quarter of 2010, compared to the same period of last year. According to company spokesperson Song Meeyoung, the net profit and sales figures were all-time quarterly highs.

By volume, sales grew by 5.1 percent to 943,791 vehicles in the fourth quarter and rose 16.3 percent to a record 3.61 million for 2010. Despite this, global market share remained unchanged from 2009’s 5.2 percent, according to Song.

The company’s annual profit rose by 78 percent in 2010, while sales gained 15.4 percent, showing the company is increasing it’s profit margins. Although the forth quarter results were not broke down into markets, Hyundai said its operations in China, India, the United States, the Czech Republic and Turkey all contributed to earnings in 2010.

The US market was particularly strong, with sales volume increasing 53.9 percent for the year, while revenue rose 46.8 percent. Operations in China saw sales rise by 23.3 percent to 703,000 vehicles and revenue gaining 20.8 percent.

Hyundai Motor’s shares fell 0.8 percent in yesterday's Soul trading, though they are still up 13 percent since the beginning of the year.

Jan 27, 2011

Toyota to double production of Etios

Toyota Kirloskar Motor Pvt. Ltd will almost double production of its newly launched the Etios sedan to prevent prospective buyers from opting for other models as the waiting period now stretches to as much as eight months. The Indian arm of Japan's Toyota Motor Corp. will start a second production shift at its Bidadi plant in Karnataka to meet growing demand, deputy managing director Sandeep Singh said. "There is nothing much that we can do with the kind of demand the Etios has generated. It has taken us by surprise," said Singh. "From April onwards, we will start second shift production at our Bidadi plant." Launched in December last year, the Etios has a waiting period of six-eight months, according to the Bangalore-based firm. With the second shift starting April, the company hopes to reduce this to three-four months.

"Currently we produce at least 2,500 units a month, but the demand is of around 7,000 units. It is quite difficult to bridge that gap in a quick time," said Singh. Production will be raised to 4,500-5,000, he added. The Etios, priced at below '5 lakh in an aggressive bid to enter the mass market, received 3,077 bookings in two days after its launch. The company said it has bookings for about 18,000 Etios cars. The company's second India plant, which is located in Bidadi, and cost '3,200 crore, has an annual capacity of 70,000 vehicles. Production began at Bidadi in December last year. "A long waiting period for the Etios may compel buyers to move to rival brands. It will have to act fast," said Akshay Bhalla, managing director, Protiviti Consulting Pvt. Ltd. The car is pitched against other entry-level sedans such as Maruti Suzuki India Ltd's Dzire and Mahindra and Mahindra Ltd's Logan. "We have our plans in place, which will yield results in the coming years," Singh said, without elaborating. "A lot of the focus will be on localization."


The company looks to increase the proportion of locally made parts in the Etios to more than 90% from 70%. Toyoto has invested '500 crore to set up an engine and transmission plant on the outskirts of Bangalore in a bid to increase local content in its models. The plant will produce 100,000 engines a year from the July-September quarter of 2012 and 240,000 transmissions starting early 2013. The engines will be exclusively for the Etios, but the transmissions may be exported. In the case of the Innova, the multi-purpose vehicle that's the company's largest selling model in India, 65% of the parts are locally made. The Corolla has 50% local content. Toyota aims to sell 140,000 units in the country in 2011, with the Etios accounting for half of this number. According to the Society of Indian Automobile Manufacturers, the company sold 56,670 cars in the April-December period, registering a growth of 27.79% over the same period in 2009.


The market for small cars, which comprise 70% of all cars sold in India, has become increasingly competitive in recent times, with the launch of a range of new models such as the Ford Figo, the Maruti Ritz, the Fiat Grande Punto, the Volkswagen Polo, the Chevrolet Beat and the Nissan Micra. Toyota will launch its first small car in India, the Liva, a hatchback version of the Etios, by the end of April. "It will also have to get its small car right in terms of pricing and positioning. This will help it register a significant growth in market share," said Bhalla of Protiviti Consulting. Toyota is aiming to boost its 3-4% market share in India by entering mass-market segments with cars such as the Liva and the Etios. It currently trails Maruti Suzuki India Ltd, Hyundai Motors India Ltd, Tata Motors Ltd and General Motors India Pvt. Ltd in market share.

Jan 25, 2011

Tata Motors launches the Tata Venture in Maharashtra

Tata Motors today announced the launch of Tata Venture in Maharshtra. The Tata Venture is a multi-purpose vehicle (MPV) with the footprint and maneuverability of a hatchback car, but the interior space of a utility vehicle.

The less than 4 metre long Tata Venture can comfortably accommodate eight passengers in three front facing rows and has ample luggage space. A glasshouse effect with plug-in windows for second row passengers contributes to the distinctive exterior design while the contemporary interiors sport a two-tone beige and black theme. Comfort and convenience of both driver and passengers have been adequately addressed with dual HVAC, power steering, power windows, reverse parking aid, keyless entry with engine immobiliser and rear wipers.

A semi monocoque construction provides the required rigidity while the robust shell has energy absorbing crumple zones built in. A collapsible steering and side impact beams protect occupants in an exigency. The Tata Venture meets crash safety norms applicable in the domestic market.

The Tata Venture is powered by a 1.4 Litre turbo diesel engine, delivering 71 PS power, with best in class fuel efficiency among diesel MPVs in the country. The mileage as certified by ARAI is 15.42 kmpl.

The Tata Venture will be available in 5, 7 and 8-seater options in 3 row front facing configuration and will be available in a range of 5 colors and 3 trim levels.

The Tata Venture comes with a warranty of 2 years or 75,000 kms (whichever is earlier). In Maharashtra, it will be available across 42 dealerships (20 passenger car dealerships and 22 commercial vehicle dealerships) in the first phase.

The Tata Venture is priced in the range of Rs. 4 lakhs and Rs. 5 lakhs, ex-showroom Kalyan (Thane district), BS III.

Koenigsegg to launch supercar in India

The well known Swedish super sports car maker Koenigsegg Automotive AB joins hands with InterGlobe Enterprises a Rahul Bhatia promoted enterprise to launch a range of high end and high performance models in India. The Koenigsegg Agera, sports a 4.7-litre aluminium V8 engine capable of producing peak power of 850 bhp. It is undoubtedly one of the fastest production cars in the world. Agera in simple terms is 18 times that of the Maruti Alto (800cc) - India's largest selling model.

The Agera, which in Swedish means 'to act', can reach 100 kmph in 3.1 seconds, and has a top speed of 390 kmph. The company plans to build just 16-20 units a year of the Agera, which was first unveiled at the Geneva Motor Show last year.

Koenigsegg is renowned for its big engines and unfamiliar designs. That is not all; the styling under its own brand is also popular. It will launch the Agera, which carries a sticker price of Rs 9.6-10 crore, next month in Hyderabad.

The supercar maker’s foray into India will be managed by Delhi-based InterGlobe Enterprise, which also promotes low-cost carrier IndiGo under the InterGlobe Aviation banner. Industry sources said an announcement to this effect is expected next month.

While rivals such as Bentley, Bugati and Lamborghini (all owned by Volkswagen), Porsche and Rolls Royce have already launched sales in India, Koenigsegg will be amongst the last few globally renowned automotive brands to make an official entry into India. Last October, Bugati made headlines when it launched the Veyron 16.4 Grand Sport- the most expensive model in India, priced at Rs 16 crore. The Italian supercar maker Ferrari, in which Fiat holds a substantial stake, will also launch cars in India later this year.

These brands are available to Indian customers through sales offices. However, other makes like Alfa Romeo, Aston Martin, Maserati, Cadillac and Pagani can be bought through a clutch of private importers.

Hyundai recommends RS 1,500 crore outlay in Tamil Nadu

Hyundai, the South Korean automobile group has presented a Rs.1,500 crore new investment offer to the Tamil Nadu government and a Memorandum of Understanding (MoU) will soon be signed.

The momentum towards a diesel engine plant in India is increasing now as companies are now launching diesel variants. At present the diesel engines for Hyundai’s small cars are imported.

‘Hyundai has submitted a proposal to invest Rs.1, 500 crore for setting up plants to make diesel engines and auto components. We are looking into it and soon a MoU to this effect will be signed by the government with Hyundai,’ Rajeev Ranjan, principal secretary of industries department, briefed reporters.

Speaking to reporters on the margins of the summit on ‘Sustaining Manufacturing Leadership of Tamil Nadu’, organized by the Confederation of Indian Industry (CII), Ranjan said the proposed investment will be the third expansion project for Hyundai in the state.

The investment proposal has come at a time when the Tamil Nadu government is planning to announce a new policy governing the auto sector – vehicle and component manufacturers. There have also been reports of Hyundai Motor looking outside Tamil Nadu for expansion as it may not find sufficient space at its current location.

Hindustan Motors signs alliance with IndusInd Bank

Hindustan Motors Ltd., India’s major automotive company, has inked a deal with the reputed IndusInd Bank, in its first ever tie-up with a private player. The memorandum of understanding (MoU), which was signed recently will provide attractive and customized financing solutions to HM customers pan-India.

The tie-up not only entails smooth and hassle-free financing facilities for all passenger and commercial vehicles from HM and HM-Mitsubishi, but also offers a host of preferential value-added services exclusive for HM customers through the bank’s expansive network of 224 branches spread over 180 geographical locations in 28 states and union territories across the country. The tie-up assumes special significance as HM-Mitsubishi is all set to introduce several variants in the current year.

The MoU was signed by Mr. Dibyendu Chatterjee, General Manager-Finance (Vehicles), on behalf of Hindustan Motors and by Mr. T A Rajagopallan, Senior VP-Consumer Finance of IndusInd Bank.

Speaking on the occasion, Mr. Chatterjee said, “This association will help us reach out to a wider customer base with speedier and smoother finance options provided by IndusInd Bank through its expansive network across the nation coupled with competitive rates and a focused consumer-friendly approach. We strongly feel that the deal will be mutually beneficial and help us scale bigger heights by leveraging each other’s strengths.”

Mr. T A Rajagopallan said, “We are extremely proud to announce the deal with Hindustan Motors, the country’s oldest car company which has considered IndusInd as their preferred choice, in their first ever association with a private bank. Customer delight is the common thread that binds both the organizations and we are confident to work towards the same goal in making this deal a success.”

Hero Honda executes licensing agreements with Honda Motors

Licensing agreements is in respect to existing products and new products following the MoU of December 16, 2010, which had been approved by their respective Boards of Directors.

Hero Honda Motors Ltd and Honda Motor Co., Japan on January 22, 2011 executed final binding licensing agreements with respect to existing products and new products following the MoU of December 16, 2010, which had been approved by their respective Boards of Directors.


Renault to leave Logan

Renault SA has reportedly decided not to re-introduce Logan when it launches its own range of products from mid-2011. With the licensing agreement with Mahindra & Mahindra coming to an end in about three months, the Renault brand, logo and the name Logan will be withdrawn from the product.

According to reports, car, sold under the Mahindra-Renault badge, will see a rebranding exercise and be manufactured and distributed by M&M alone. The engines and transmissions for the Logan, however, would continue to be supplied by Renault. Mahindra has the rights to execute minor changes in the vehicle. Since the IPR for the Logan rests with Renault, company may provide the technology to upgrade the Logan in the future.

M&M is working on developing a shorter version of the Logan, with a body length of less than four metres, in order to avail of the discount in excise duty. This would give the Indian company the benefit of pricing the car aggressively and spruce sales in the domestic market.

Renault has firmed plans to introduce five cars in the Indian market over the next two years, including the sedan Fluence, sports utility vehicle Koleos and a premium hatchback. Automaker is eyeing a 5% share of the Indian market by 2014, adds report.

Toyota sells 8.42mn vehicles globally in 2010

Toyota's global sales rose 8% from 2009, driven by solid sales growth in China and other Asian nations

Toyota sold 8.42 mn vehicles globally in 2010 to remain the world's top automaker for the third year straight. Toyota's global sales rose 8% from 2009, driven by solid sales growth in China and other Asian nations.

According to reports, General Motors finished second with its 2010 global sales at 8.39 mn vehicles. Toyota was the only major carmaker to see its North American vehicle sales drop last year compared with the previous year. Toyota's North American sales last year totalled 1.94 mn vehicles, down 2% from 2009.

TVS Motor Company Revenue Grows 51 % in Q3

Sustained growth across all product segments has enabled TVS Motor Company to achieve strong revenue growth of 51% in the third quarter with sales revenue growing from Rs. 1089 crore in the quarter ended December 2009 to Rs. 1647 crore in the quarter ended December 2010.

Profit before tax, during the quarter under review, grew by 177% from Rs. 25.41 crore recorded in December 2009 to Rs. 70.29 crore in the current quarter. Profit after tax grew by 137% from Rs. 23.54 crore in the previous comparable quarter to Rs. 55.75 crore in the quarter under review. Cumulative profit after tax for nine months ended December 2010 grew at 128% from Rs.66.20 crore to Rs.150.90 crore. The directors have declared an interim dividend of Re. 0.50 per share on the enhanced capital of Rs.47.51 crore as compared to Re. 0.70 per share on the then capital of Rs. 23.75 crore.

Total two-wheeler sales of the company grew at 39% in the third quarter, increasing from 3.72 lakh units in the third quarter of the previous year to 5.18 lakh units in the current quarter. Motorcycle sales grew at 40% from 1.51 lakh units in the quarter ended December 2009 to 2.11 lakh units in the reporting quarter. Scooters continued its upward growth, increasing by 64% from 0.76 lakh units in the quarter ended December 2009 to 1.24 lakh units in the current quarter. Two wheeler exports registered 17% growth with sales increasing from 43,696 units in the quarter ended December 2009 to 51,394 units in the current quarter. The company's three wheeler sales during the quarter grew 212% from 3,225 units in the quarter ended December 2009 to 10,079 units in the quarter ended December 2010.

At the end of the quarter under review, PT TVS Motor Company Indonesia sold 14,809 units (April '10 to December '10) in comparison with 10,448 units (April '09 to December '09) registering a growth of 42% over the same period of the previous year. Expansion of dealerships has been a key focus area and the company has added two new provinces to the existing thirteen. Upgraded models of TVS RockZ and TVS Apache will be launched in the fourth quarter. With improved sales network and product portfolio, PT. TVS is expected to vastly improve its performance in 2011-12.

TVS Wego has won the prestigious "Scooter of the Year Award" at the recently concluded CNBC TV18 Overdrive Awards 2011, NDTV Car and Bike Awards 2011, Bike India Awards 2011 and Business Standard Motoring Awards 2011. Eminent panels of jury members including auto enthusiasts and industry experts chose TVS Wego on merits of its design elegance, engine efficiency, smoothness of handling and ride quality.

Mahindra Finance - YTD December 2010 PAT up by 61% & Q3 December 2010 PAT up by 45%

The Board of Mahindra & Mahindra Financial Services Ltd (Mahindra Finance), a leading player in providing financial services in the rural and semi-urban markets today announced the financial results for the quarter ended 31st December 2010.

Q3 F2011 Standalone Results

The Total Income registered a growth of 32% at Rs. 530 crores during the quarter ended 31st December 2010 as compared to Rs.402 crores during the corresponding period last year. The Profit After Tax (PAT) during the quarter ended 31st December 2010 was at Rs 116 crores, an increase of 25% from Rs.93 crores for the corresponding period last year. As per RBI recent notification a provision of 0.25% on the standard assets of Rs.28 crores ( net of tax Rs.19 crores) has been made by the company.The above includes provision for the quarter of Rs.3 crores (net of tax Rs.2 crores).

The PAT for the quarter ended 31st December 2010 before exceptional items stood at Rs.135 crores, an increase of 45% from Rs.93 crores during the same period last year.

YTD F2011 Standalone Results

The total income increased by 29% at Rs. 1410 crores during the nine months ended 31st December 2010 as against Rs.1094 crores in the corresponding period last year. The Profit After Tax (PAT) was at Rs.307 crores during the nine months ended 31st December 2010 registering a growth of 52% as compared to Rs. 202 crores during the corresponding period last year.

The PAT before exceptional items stood at Rs.326 crores, during the nine months ended 31st December 2010 an increase of 61% from Rs.202 crores corresponding period last year .

Operations

The Company's disbursement registered a growth of 69% at Rs.10456 crores for the nine months period ended 31st December 2010 as compared to Rs.6177 crores during the same period previous year.

While maintaining its leadership position as the largest retail financier for Mahindra range of vehicles and tractors, the Company has significantly improved its performance as a car financier and has increased its presence in Heavy Commercial Vehicles & Construction Equipment. M&MFSL currently has a network of 537 offices and total asset under management above Rs.13000 crores. The Company's continued focus on NPA reduction coupled with buoyant rural cash flow, enabled it to maintain quality of assets. The Company has broad based its Borrowing Product mix which enabled it to contain its interest cost.

SUBSIDIARIES

Mahindra Insurance Brokers Limited (MIBL)

During the nine months period ended 31st December 2010, MIBL registered a growth of 61% in its income at Rs.37.5 crores as against Rs.23.3 crores in the previous year. The Profit After Tax (PAT) rose by 80% at Rs. 15.5 crores as against Rs. 8.6 crores registered for the same period previous year.

Mahindra Rural Housing Finance Limited (MRHFL)

MRHFL has disbursed Rs. 136.2 crores during the nine months period ended 31st December 2010 as against Rs. 49.2 crores disbursed during the same period a year ago. The Company made a profit ( PAT ) of Rs.6.1 crores during the nine months period ended 31st December 2010 as compared to profit of 0.9 crore made during the same period previous year.

YTD F2011 Consolidated Results

The total income increased by 31% at Rs. 1453 crores during the nine months ended 31st December 2010 as against Rs. 1113 crores during the corresponding period last year. The PAT increased by 54% at Rs.327 crores for the nine months period ended 31st December 2010 as compared to Rs.212 crores during the same period last year. The PAT before exceptional items for the nine months period ended 31st December 2010 stood at Rs.346 crores, an increase of 63% from Rs.212 crores during the corresponding period last year.

Jan 24, 2011

Maruti emerges seventh on list of nation’s most trusted 300 brands

The automobile sector has made quite an impression on the nation as one of the most trusted sectors, according to a study released by The Trust Research Advisory (TRA). The report has ranked India’s first indigenous car brand Maruti, at seventh place, whilst leading two-wheeler brand Hero Honda came in at 13th place and international luxury brand BMW at 33rd place. Hyundai drove in at 43rd place, whilst TVS at 54th place. Toyota was ranked at 66th place, Ford at 74th place, Mercedes Benz at 81st position, Audi at 104th place and Suzuki at 118th place. Skoda was 126th on the list, whilst Tata was at 159th place. Ferrari was at 162nd position.


The revelations were a result of a study, published by Trust Research Advisory (TRA), a leading research organization dedicated to understanding and simplifying concepts related to Trust. The study, compiled into a 116-page report titled “The Brand Trust Report, India Study, 2011” was launched at a press meet, held recently, in New Delhi

The Brand Trust Report, India Study, 2011 is the result of years of detailed research to understand trust which included several hundred hours of discussions with communication experts and behavioural scientists. On this basis TRA created a proprietary Trust Matrix comprising 61 different components. Based on this proprietary Trust Matrix, TRA launched a syndicated primary research on Brand Trust across 9 cities in India covering 2310 respondents who were classified into the ‘influencer’ category. The most intensive study on Brand Trust undertaken in the country, the study generated nearly 10,00,000 data points and 16,000 brands. Indian Statistical Institute helped create a statistically robust Brand Trust.

Mr. N. Chandramouli, CEO, Trust Research Advisory (TRA) said, “The parameters under which this comprehensive study was carried out by TRA, is the first of its kind in the country. I believe that this detailed study on Brand Trust™, will benefit the automobile sector in the long run. I wish them all the best in all their future endeavors and hope they make their way higher in the coming years as one of India ‘most trusted brands’.”

Maruti’s Composite Brand Trust scores stay very close to the average line with the third lowest variance across the 10 composite parameters showing a strong consistency. Whilst there are no major shifts seen in these composite scores, the little extra edge is given to Maruti’s Brand Trust by its outward appearance, representative of the brand’s attractive appearance, appropriate expression, conformation to high standards.

Whilst the brand maintains a good balance in composite scores, its zonal pulls and variations are quite high. Maruti’s East and North zone trust indices are substantially higher than the other two zones. The East zone pull leads the lowest brand trust zone, the west by three times and the next lowest zone, south by almost two times.

Maruti’s highest score among primary attributes of Brand Trust is in the brand’s consistency over time, something that Indians will relate to closely.

Jan 22, 2011

Maruti cars get expensive by up to Rs 8,000

The Indian auto giant Maruti Suzuki has increased the price of its cars by up to Rs 8,000 across all portfolio vehicles. However, the price of company’s volume driving small car Alto K10 has been kept unchanged. The car maker has blamed the continuously rising input material cost for the hike.

Maruti Suzuki India (MSI) managing executive officer (Marketing and Sales) Mayank Pareek said on Friday, "Yes, we did increase the prices on January 17 ranging between 0.5 per cent and 2.2 per cent." This translates into a price hike in the range of s 1,000 and Rs 8,000 across different portfolio models of the company (except Alto K10).

Earlier last month, MSI had announced that it would increase the price of its cars in India during January due to a steep rise in the essential input materials including steel, copper and natural rubber. The company however hadn’t revealed the size of this hike at that time.

While elaborating the sharp rise in the price of essential input materials, Mr. Pareek had stated in December last year, "The price of natural rubber, which used to be Rs 100 per kg, has gone up to Rs 200 per kg. Copper price has increased by 12-15 per cent and steel has also seen a similar increase.”



Jan 21, 2011

Bajaj Auto Q3 net profit up 40%

Bajaj Auto Ltd has posted a net profit of Rs. 6671.10 mn for the quarter ended December 31, 2010 as compared to Rs. 4751.40 mn for the quarter ended December 31, 2009.

Total Income has increased from Rs. 33306.80 mn for the quarter ended December 31, 2009 to Rs. 42765.40 mn for the quarter ended December 31, 2010.

EBITDA margin for the quarter stood at 20.3% margins continue to be the highest in the industry. Annualised EPS for 9M / 2010-11 Rs. 89.3 as against Rs. 58.8 for 2009-0. ROCE (operating) at223%. The quarter witnessed an all round increase in input cost. In this challenging environment, the company's focus on high-end motorcycles enabled it to maintain record high margins in excess of 20%.

Pulsar recorded its highest sales, 262,000 units; maintaining its dominance in the sports segment market share of 50%.

Discover sold -327,000 units during the quarter. The high-end motorcycles now contribute over 70% of company's total motorcycle sales. Overall, market share was 31% in Q3 / FY11.

Demand for commercial vehicles, especially exports, continues to be strong. Currently, the company is facing capacity constraints in its four stroke range of products.

Demand from overseas markets is robust. Company targets record exports of US$1bn for the year. As on 3st December 200, cash and cash equivalents stood at Rs. 38.21bn as against Rs. 32.63bn as on 3st March 2010. Company is confident of achieving EBITDA margins of 20% for the year.


Piaggio launches Aprilia in India

Piaggio Vehicles Pvt. Ltd, the Indian subsidiary of Piaggio & C s.p.a of Italy unvled the super bike Aprilia RSV4 Factory at the Mumbai International Motor Show along with Vespa LX 125- iconic two wheeler that is hailed around the world as not just a scooter, "It's a way of Life."

Piaggio's is all set to get pulses racing and the adrenaline pumping for afficionados of racing bikes and scooters. Vespa will be launched in Q1 201. The price of Aprilla will be between Rs. 13 lakh to 18 lakh.

Jan 20, 2011

Honda CBR250R Opens For Bookings

The much in news Honda CBR250R is open for bookings at Rs1.5 lakh price for the base version and Rs1.8 lakh for ABS version. The vehicle will wear an Indian make and will be ready for delivery in April.

According to Honda, the vehicle was showcased in Thailand months ago and is expected to create ripples in the Indian market with its design and performance. The launch will bring with it a new platform in the motorcycle segment meeting the demands of the customers who need creative features. The Honda CBR250R will be designed as a friendly flair to ride. The bike manufacturer will be manufacturing them in India and Thailand to export to more than 20 countries.

The all new Honda CBR 250R wears the looks of the inferior version of VFR 1200 F having the sportiness and muscled body. Besides, it is comfortable and sleek to ride, compact, electrifying and above all, easy to handle. The all new Honda CBR 250R has the technology of short stroke, DOHC, 4-stroke and single cylinder engine. It has a fuel injected, liquid cooled and 6-speed gear box.

The peak power is almost 25.8bhp @8500rpm on Indian conditions with the maximum peak torque of 2.3kgm in 7000rpm. This bike assures the very best performance with its power band, mid range running with 10000 rpm. The top speed level is 140kph with the assured speed of 120kph.

The Indian roads spruce up for this magnificent bike as the booking open.

Volkswagen gazes at 5% of sales increase in 2011 following record deliveries

Volkswagen AG project sales universal will raise 5 percent present year, past reporting record deliveries last year in 2010, increased by growth in China and other emerging economies.

There is an increase of 14 percent from 2010 as the Europe’s largest automaker sold 7.14 million cars and sport-utility vehicles in 2010, sales Chief Christian Klingler told reporters at the Detroit auto show today. VW group sales in December surged 23 percent to 545,400 units.

“We will continue to fight for every vehicle in the respective growth regions,” Klingler said, citing VW’s Golf and Audi’s Q5 SUV among last year’s best-selling group models.

Wolfsburg, Germany-based Volkswagen is counting on additional growth in Brazil, Russia, India and China, together with momentum in the U.S., to narrow its gap with Toyota Motor Corp., Chief Executive Officer Martin Winterkorn said in Detroit. VW, which will start a plant in Chattanooga, Tennessee by April, has an ambition of exceeding Toyota in sales and profitability by 2018.

India's only eBook Reader Upgrades to Infibeam Pi2; Adds Touch & Wi-Fi Connectivity

Ahmedabad, India; Jan 20th 2011: After the huge success of Infibeam Pi, Infibeam launches Pi2 the next version of the Pi. Infibeam Pi2 is a portable reading device which allows users to read ebooks, browse the internet and play games.

Infibeam Pi2 comes with a touch screen which provides users with the ability to navigate easily and has wi-fi connectivity which allows users to download content from the internet and read it on Infibeam. Infibeam Pi2 can read pdf, word and other formats of books, presentations, magazines and journals. Pi2 also supports 15 languages, can store ebooks in its 2GB internal memory and supports memory cards upto 32GB.

Commenting on the latest launch, Mr. Vishal Mehta, Founder Infibeam.com said, "The Pi2 is a new addition to our eBook reader family. The Pi was successful with Indian readers and to satisfy their need for internet connectivity, we have introduced Infibeam Pi2". He added, "We had promised readers that downloading newspapers, fiction and textbooks via the internet will soon be a reality. Infibeam Pi2 aims to do just that and more."

Infibeam Pi2 is a sleek and lightweight eBook reader. With a thickness of mere 10mm, the eBook reader looks stylish and is every book reader's dream. The 6-inch wide display and 8 levels of gray scale is extremely eye friendly. The Infibeam Pi2 has an intuitive touch screen, one of the easiest interfaces available. It supports 15 Indian languages including Sanskrit and Hindi. Infibeam Pi2 offers enhanced storage with the 128MB RAM, 2GB internal memory and SD card slot that supports up to 32G. Infibeam Pi2 operates on the Linux operating system. That is not all; Infibeam Pi2 offers the option to create music library and readers may listen to their favorite music on the go. Infibeam Pi2 comes with a browser that uses the internal Wi-Fi to connect to Infibeam and download ebooks, eMagazines, eNewspapers.

Infibeam is pleased to announce that Pi2 has an introductory pre-order offer of Rs. 11,999 only valid until January 31, 2011. The product shipped will include the Infibeam Pi2 reading device, USB Cable, AC Adapter, User manual, Quick Start Guide and earphone. Free eBooks, newspapers, fiction and much more may be accessed from Infibeam Pi2.

This is only the beginning, as Infibeam Pi2 will enthrall readers, and entice Infibeam to bring out better and upgraded versions of India's only eBook reader.

http://www.infibeam.com/Pi/Pi2.html

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About Infibeam
Infibeam.com is India's leading eCommerce portal with a selection of more than 100 lac products across books, media, lifestyle, gifts, electronics and automobiles. Infibeam.com is known for its innovative navigation, lowest prices, free shipping and dedicated customer service.

Infibeam.com also offers its web-store technology and associated infrastructure as a service to well-known brands and retailers such as NDTV, K Sera Sera, Hidesign, TTK Prestige etc.

Infibeam.com was founded in 2007 by a group of ex-Amazon employees with expertise in e-commerce and technology. Headquartered in Ahmedabad, Infibeam has 250 employees based out of offices in Bangalore, Delhi, Kolkata and Mumbai. The leadership team consists of MIT, IIM and IIT graduates amongst others with more than 100 years of combined experience in Retail and eCommerce.

Jan 19, 2011

Honda Civic sunroof launched in India

Japanese car maker, Honda has finally launched the highly awaited sunroof version of their popular sedan, Civic in India earlier this evening. At the launch event, along with top Honda officials, Hindi cinema actress, Chitrangada Singh was also present as a guest of honor.

Honda has priced the Civic sunroof variant at Rs 13.53 lakhs and 14.24 lakhs (Ex-Showroom New Delhi) for manual and auto transmission respectively. Along with all the presently available color shades, Civic sunroof will also be available in Urban Titanium shade.

On the occasion, Mr Tatsuya Natsume, Marketing Director, Honda India said, “We are delighted to introduce the new Civic with sunroof which further augments the style quotient of the car and make it even more desirable. We believe that this variant will greatly appeal to the customers for whom the style is a way of life.

Audi sets target of selling 4,500 cars in 2011 in India

Audi India has set a target of selling 4500 Cars in India in the year of 2011. It is 50% up from the 3,003 cars sold in 2010.

Disposal income of new age Indians is increasing and car makers have seen tremendous growth in sales in 2010. BMW grew by 73%, Mercedes by 80%.

Michael Perschke, head of Audi India told that they are close behind the competition and working hard. Company is planning to launch A8, a long wheel based sedan later this month followed with A7 Sedan in end of May or early June. New version of A6 will be launched in the last quarter of 2011.

As part of their aggressive growth strategy, Audi India is planning to increase the dealership. Audi is going to add new dealerships in Surat, Ludhiana, Nagpur and Indore.

At present Audi is using Skoda's plant in Aurangabad to assemble A4, A6 and Q5 models.

Volco S60 will be launched in India in February, 2011

Volvo could not make a significant impact in Indian Car market as compared to the rivals like Mercedes, Ford, Toyota, Honda etc. Volvo have changed the strategy and going to enter in the Indian car market with new model S60 in February, 2011.

The S60 sedan will run the same D5 2.4 litre turbocharged diesel engine that does work in the XC60 SUV. The engine churns out 205bhp and 420Nm of torque couple that with all wheel drive and the S60 will certainly give nightmares to the Audi A4. The car looks better than its rivals too. Being a Volvo, there are a host of safety features to keep you on the grey bit. The interior also looks unique, especially the floating center console, a trademark Volvo feature these days.

New Volkswagen Passat 2011 to hit Indian roads this April

The German auto giant Volkswagen plans to roll-out the new-generation model of its Passat model in the Indian market, in April 2011. The next-generation Passat comes blessed with the new Volkswagen family look along with newly designed grille and had lamps. Besides a few cosmetic changes at the exterior, the new Passat comes loaded with a range of new age safety and comfort features such as Automatic Distance Control (ACD) system.

The new Volkswagen Passat 2011 is expected to come powered by 2.0-litre diesel engine along with a maximum power delivering capability of 140 bhp. The car would come mated with a six-speed DSG transmission. The addition of the new diesel version will enable the Passat series to compete more promptly with the likes of Honda Accord, Toyota Camry and upcoming Maruti Kizashi.

The existing model of Volkswagen Passat comes loaded with a 1.8L, 1798cc TSI petrol engine that generates a peak power of 160PS along with a peak torque of 250Nm. While the existing version of the Passat is available with a price tag of Rs 19,20,777, the new Passat 2011 is expected to be launched in the country in the range of Rs 20 to 25 lakh.

Maruti Kizashi Luxury Car to Hit Indian Markets in February, 2011

Maruti Suzuki, a dominant car maker in India is trying to make its presence felt in the luxury car segment. With incomes soaring this is a lucrative segment to make forays into. Maruti will be launching its sedan Kizashi on the second of February. The vehicle will be imported in from parent Suzuki’s facility in Japan. It is expected to be positioned between the levels of Honda Accord and Toyota Camry at the upper end and Honda Civic, Volkswagen Jetta and Toyota Corolla at the lower end. The price fixed for this car will be around 12 lakh rupees to 20 lakh rupees, said company sources.

Maruti Suzuki India Managing Executive Officer (Marketing & Sales) Mayank Pareek said, “This (Kizashi) is our attempt to be future ready, as we believe the A4 and A5 segment (luxury) is going to grow. It is small at the moment but the way the economy is growing, this segment is going to be big.”

“In another 5-7 years time, this volume is going to be big and to sustain our leadership position in the market we are looking at this segment seriously,” Pareek added.

The size of the A4 and A5 segment is over 55,000 units per year, according to industry sources. Maruti may also look into the option of assembling the Kizashi in India in future depending on the demand.

The vehicle is powered by a 2.4 litre petrol engine and will be available in both manual and automatic transmission options. Kizashi is expected to cater to the needs of customers in the upper echelons of the society.

Maruti Suzuki customers numbering to about nine million in India are desirous to move up and are awaiting a luxury sedan from the company after SX4. Kizashi will take care of this luxury segment, it is expected.

Jan 17, 2011

Maruti to decide on price hike next week news

With rising input costs, Maruti Suzuki India (MSIL) is mulling raising the prices of its products. The top management of the company is expected to decide on this at a meeting scheduled for next week.

According to a senior company executive the rise may not be across the entire range, though the new prices would take effect immediately following the decision.

Earlier, while announcing the results for the quarter ended September, the company had admitted to profit margins being under squeeze due to increasing commodity prices.

MSIL had reported a net profit of Rs598.20 crore which was an increase of 4.95 per cent while the cost of raw material and components had risen to Rs6938.88 core in the quarter from the earlier Rs5254.89 crore. The company has already revised prices twice in this financial year.


Tata Motors, has hiked prices from this month. While the company's passenger cars will now cost between Rs3,000 and Rs15,000 more, its commercial vehicle prices would rise in the range between range between Rs1,500 and Rs 30,000.

Mahindra & Mahindra is also increasing prices of all its products from this month though the quantum of the increase has not yet been announced. Rajesh Jejurikar, chief executive, automotive division, M&M said the company was considering increasing the prices of its products this month and the exact quantum of the rise would be announced soon.

2011 Yamaha SZ-R India Debut

India Yamaha Motor Pvt. Ltd. unveiled the new 153cc 2011 Yamaha SZ-R, adding a new credo for the motorcyclists in India with the archetype Yamaha DNA of performance, innovation and design.

The SZ-R gives the 150cc motorcycle commuters a sporty edge apart from delivering just enough power, comfort and style. The Yamaha SZ series of motorcycles launched in Aug. of 2010 and aggressive pricing of Rs 49,000 ($1,081.68 USD) have been in high demand as they gain popularity across India.

Motorcyclists in India have been demanding a disc brake version which is now available in SZ-R. Yamaha India is confident that the new motorbike models will once again capture the hearts of our motorcycle buyers and will further consolidate their position in the market against Honda Hera and up and coming Mahindra & Mahindra.

Mr. Hiroyuki Suzuki (CEO of India Yamaha Motorcycle) says: "India is one of the key markets for Yamaha and we have been constantly shifting gears to transform the market from utility to pleasure & lifestyle.

"Yamaha offers innovative designs, sporty looks and premium features across models as part of its strategy to give consumers a new thrill in biking.

"After the successful launch of our superbikes and 150 cc bikes in the Indian market over the last 3 years, we are adding new bikes to our portfolio corroborating Yamaha's continued commitment to provide world-class products to its consumers."

In essence, the 153cc SZ-R is a sporty version of SZ-X stylish commuter. The more muscular SZ-R is targeted at commuter customers with their sportbike-oriented interests and is designed to create the sensation of "high speed", in the words of Yamaha India.

The motorcycle comes complete with front disc brake, tachometer and has a tank protector added to the fuel tank to make it appear even larger. Furthermore, the shroud from the standard SZ-X motorcycle model is replaced by an aerodynamic spoiler that extends out in the same silver coloring as the side covers.

The Yamaha SZ-R also has clear lens turn signals, colored handle grip end bar, painted muffler end caps along with special graphics. The SZ-R is priced at Rs 55,500 ($1,214.13 USD) and will be available in 3 color options: Quality Black, Quality Red and Quality Blue.

With the launch of the SZ-R, Yamaha is all set to provide Indian motorcycle riders a chance to experience a well engineered, comfortable, stylish new motorcycle, which lies at the heart of the new Yamaha creation.

For 1200 bucks it sounds like a bargain. The only part I don't understand is how does a guys with the last name Suzuki become CEO of Yamaha?

Mercedes-Benz India FY10 sales up 80%

Mercedes-Benz India announced a remarkable year-end sales performance for 2010. The company has sold 5819 cars from Jan – Dec 2010 which is a growth of 80% over 2009 (3250 units in 2009). The key growth drivers were the E–Class with 2490 units (2009=1024units), C-Class with 2070 units (2009= 1579 units) as well as the SUV range comprising the M-Class, GL-Class and the R-Class with 523 units (2009= 140units).

The best ever December was also recorded by the company with 710 units being sold as wholesale by Mercedes-Benz India. The key products that contributed to this growth were the E-Class with 371 units sold (136 units in December 2009), the C-Class with 141 units sold (133 units in December 2009), followed by 127 units of the SUV segment- comprising M-Class, GL-Class & the R-Class-(15 unit of M-Class in December 2009).

Mercedes-Benz’s strategy for the Indian market have been focused upon offering a comprehensive product portfolio, delivering the highest value to the customer as well as ensuring world class sales, after sales and vehicle ownership experience. These initiatives coupled with aggressive product launches and network enhancement to smaller towns and cities have reinforced the strong traction with Indian market in 2010.

Tata Nano diesel coming by September

Tata Nano with a diesel engine will reportedly be rolled out in August or September. According to reports, the diesel engine will be in the 600-700 cc range like the petrol version and could be priced at a slight premium over the current variants. Component makers expect the diesel Nano to sport a price tag between Rs. 1.8-2.2 lakh.

The diesel Nano will be the smallest and cheapest diesel car in the market and sport a sub-1000 cc engine, but with output and performance 20-30% better than is usual for that engine size. Honeywell has developed the world's smallest turbo systems for Nano, while Bosch will fit the smallest common rail direct injection (CRDi) system. The other partners in the project includes AVL, FEV and Ricardo, adds report.

Maruti Suzuki to launch Kizashi on Feb 2

Maruti Suzuki India will be launching its sedan Kizashi on February 2. According to reports, the vehicle, to be imported fully from parent Suzuki’s facility in Japan, will be positioned between the likes of Honda Accord and Toyota Camry. These cars are priced around Rs. 12 lakh to Rs. 20 lakh.

The company will consider the option of assembling the Kizashi in India in future if the demand justified but declined to give a time-frame. Kizashi is powered by a 2.4 litre petrol engine and will be available in both manual and automatic transmission options and will be formally launched on February 2, adds report.

Tata Motors Dec 2010 global sales up 21%

The Tata Motors Group global wholesales, including Jaguar Land Rover, were 90,294 nos. in December 2010, a growth of 21% over December 2009. Cumulative sales for the fiscal (April 2010 – December 2010) are 768,834 higher by 29% compared to the corresponding period in 2009-10.

Global sales of all commercial vehicles – Tata, Tata Daewoo and the Tata Hispano Carrocera range -- were 48,168 nos. in December 2010, a growth of 29%. Cumulative sales for the fiscal are 362,677 nos., a growth of 29%. Global sales of all passenger vehicles were 42,126 nos. in December 2010, higher by 13%. Cumulative sales for the fiscal are 406,157 nos., a growth of 30%.

Global sales of Jaguar Land Rover in December 2010 were 21,353 vehicles, higher by 1%. Jaguar sales for the month were 4,332 nos., lower by 10%, while Land Rover sales were 17,021 nos., higher by 4%. Cumulative sales of Jaguar Land Rover for the fiscal are 175,442 nos., higher by 28%. Cumulative sales of Jaguar are 42,952 nos., higher by 18%, while cumulative sales of Land Rover are 132,490 nos., higher by 32%.

Global sales of Tata passenger vehicles and the distribution offtake in India of Fiat cars were 20,773 nos. for the month, higher by 28%. Cumulative sales for the fiscal are 230,715 nos., a growth of 31%.


Jan 13, 2011

Greaves Cotton to supply diesel engines to TATA Motors

Engineering company Greaves Cotton said it has won a 10 year contract from TATA Motors to supply small diesel engines for its new half-tonne truck Ace Zip which is expected to be launched in the first quarter of this fiscal.

Mr Prabhakar Dev MD and CEO of Greaves Cotton said that "Greaves has developed a 600cc engine for TATA Motors' new truck. It will also supply CNG engines for the truck.”

Greaves Cotton is supplying engines to Piaggio for its four-wheeler truck Ape as part of an eight-year contract. The company also meets the diesel engine needs of three wheeler makers including Piaggio, Mahindra & Mahindra, Atul Auto and Scooters India.

Greaves Cotton plans to build a new engine manufacturing plant at Aurangabad in Maharashtra at an investment of INR 100 crore to meet the growing demand for engines.

The statement said that this will take the company's total automotive engine manufacturing capacity to 400,000 units per annum.

Toyota dealers most satisfied in India

Japanese automaker Toyota has retained its top position as a company whose dealers are the most satisfied in India, followed by Hyundai, according to a survey by market research firm TNS.

The biennial survey said Toyota scored 105 points as against an industry average of 84 points in the dealer- principal relationship rating.

Hyundai, on the other hand jumped four places up to from the last survey held in 2008 to be ranked second in 2010 with a score of 95.

Mahindra & Mahindra and Maruti Suzuki India shared the third position with 87 points each in the survey that measured the satisfaction of Passenger Vehicle (cars, SUVs, MUVs) dealers with their principals.

"In 2010, the industry as a whole witnessed an improved relationship with dealer partners. This is reflected in the relationship level across all manufacturers," TNS said in a statement.

The average industry score has increased from 74 in 2008 to 84 in the current study, it added.

"The study is a reflection of the changing complexion of the passenger car market," TNS Automotive Pradeep Executive Director Pradeep Saxena said.

In the current system of brand exclusive dealerships, it is all the more important for the existing manufacturers to retain their channel partners in their fold, particularly with some of the largest global companies such as Volkswagen and Nissan entering the Indian market, he added.

The 2010 TNS Automotive Syndicated Dealer Satisfaction Study was conducted across India covering 492 dealers across 76 towns in the country for a wide spectrum of passenger car dealers of all leading manufacturers.

According to the survey, dealers rated the auto industry performance "poorly" on relationship aspects such as willingness to solve their problems and taking their suggestions on-board. Another such aspect is fairness in network planning.

The dealers have also voiced their concerns on availability of spare parts as also service promotions.

TNS Automotive is the leading global provider of market research and insights to the automotive industry, with a specialist network of over 350 dedicated researchers in over 50 countries.



Jan 12, 2011

Infibeam.com Powers Vishwagram Bazaar; to Enter Into an MoU with The Gujarat Government

Ahmedabad, India; Jan 11th 2011: Inspired by India's inherent potential and progressive leadership of Gujarat to promote entrepreneurs, Infibeam.com started in 2007 with headquarters in Ahmedabad. The founding team consists of graduates from leading institutes across the globe like MIT (Massachusetts Institute of Technology), Cornell University, IIT (Indian Institute of Technology), IIM (Indian Institute of Management), Cambridge University and many other leading institutes. These entrepreneurs settled in Gujarat after leaving their high paying jobs in globally reputed multinationals with the vision of creating the largest and most customer oriented retail technology platform to serve more than a billion Indians.

In just three years of operations, Infibeam has seen revenues grow to 100 crore by end of 2011 and expects to continue growing in triple digit percentage. The company continues to attract top talent in building out their world class ecommerce and supply chain platform for consuming India.

Manu Midha, 27, an alumnus of IIM Ahmedabad and IIT Kharagpur, was working for JP Morgan investment banking division in Mumbai. Recently, he quit his high paying banking position and moved to Ahmedabad to join Infibeam.com in planning and development. Manu is not the only one.

Anupam Guha, 25, who topped Delhi University in Computer science and went to pursue graduate studies in engineeringl at Georgia Tech left an opportunity to work with IBM research upon graduating and recently joined Ahmedabad based Infibeam.com.

In the upcoming Vibrant Gujarat summit, Infibeam.com will ink an MoU to setup Vishwagram Bazaar. For the first time, the company plans to open up the e-commerce platform that currently powers large retailers and brands in India for setting up Vishwagram Bazaar; a connected retail platform for fair price shops and village entrepreneurs under their own brand name. This platform will allow access to FMCG as well as products not easily available to rural households at transparent prices. It will also allow local produce to be sold across many retail outlets on the Vishwagram Bazaar and retail channels provided by Infibeam.

The investment of 2,000 Crore will be made over a period of five years in building out the IT infrastructure, logistics, product inventories and support services to cater to more than 20,000 centers for greater inclusivity.

Infibeam.com will be signing the 2,000 Crore MoU with the Gujarat Government here in the capital on 12th January, 2011 during the Vibrant Gujarat summit.

The first of its kind, called Vishwagram Bazaar, this would be one of the largest investment MoUs in the IT enabled sector in the state of Gujarat. The investment would enable each of the 14,000 Vishwagram centers in the state to be able to buy and sell goods, including local produce online.

As part of the MoU, Infibeam will open up its state-of-art, robust e-commerce platform for village entrepreneurs including fair price shops to create online Vishwagram Bazaar stores. This would enable entrepreneurs to buy, sell and access products. Entrepreneurs in villages will be able to showcase local products to a global audience, while they would also have access to the whole universe of products available to urban people including FMCG products as well as retail products like apparel, books, mobile phones and electronics.

Commenting on the occasion, Mr. Vishal Mehta, Founder Infibeam.com said, "We are extremely excited about this opportunity to power the IT enabled rural retail and marketplace initiative in the state of Gujarat." He added, "Vishwagram Bazaar is a real testimony to the spirit of entrepreneurship in Gujarat and will bring inclusivity by showcasing cottage industry and rural produce to a global audience. It will also make prices more transparent and provide access to products not easily available to rural audience".

Infibeam.com is one of the most popular e-commerce website in India. Infibeam also powers e-commerce retail channels for leading brands and media firms including TTK Prestige, Crossword, Hidesign, NDTV and others. This is the first time in India that an e-commerce company has opened up its IT platform and Supply chain for entrepreneurs to create stores under their own brand name.
The proposed MoU is expected to create 20,000 employment opportunities in the IT and IT enabled services sector.

http://www.infibeam.com/

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About Infibeam.com
Infibeam.com is one of the largest shopping portals in India offering the largest selection of products at attractive prices and hassle free shopping. The company owns and operates an e-commerce retail website www.infibeam.com as well as customized products and photo printing portal www.picsquare.com.

The company offers the largest collection of Books with 100Lac titles for delivery across India along with Cash on Delivery service. Infibeam also offers to its customers an impressive collection of digitized content. Ebooks, Music, Movies, Mobile phones, Home appliances, Gifts and other lifestyle products grace the online catalog.

Infibeam also developed wireless enabled electronic devices like the Pi eBook reader and Phi media device that make up the broad and distinct catalog. Additionally, technical eBooks from the largest technical publishers have enhanced the books section which can be read on electronic devices. On Picsquare.com, customers can order a wide range of customized gifts and photo prints. Infibeam has thus grown significantly and is today one of the leading e-commerce company.

Besides the 2 popular portals owned by Infibeam, the company also provides e-commerce platform, supply chain and associated infrastructure as a service to large retailers and brands in India.

Headquartered in Ahmedabad, Infibeam currently has offices and warehousing locations in Ahmedabad, Bangalore, Delhi, Kolkata and Mumbai.

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