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India Auto News Tuesday, 17 Nov. 2009 |
National - Reva may set up production plants in US, Europe- Mamata Banerjee wants 10 new auto hubs to generate income for railways - Rahul Bajaj not sure about feasibility of small-car project - Auto industry profits expected to soar in Q3, 2009 - Harley-Davidson to source components from India - TVS Motor re-launches Flame with twin-spark plug technology - Mercedes-Benz India launches advanced diesel version of E-Class - Tata Motors resolves problems with Nano vendors - Auto component maker Steel Strips gets Rs 195 crore order from Renault International - GM chief Fritz Henderson apologises for unexpected turn in Opel deal |
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Reva may set up production plants in US, Europe Bangalore-based Reva Electric Car Company (RECC) is all set to expand its manufacturing operations to markets in the US and Europe. The company also wants to increase the number of its foreign markets from the current 24 to 50 by 2011-12. RECC President (Sales & Marketing), Mr R Chandramouli, said that the company was planning to set up production facilities in overseas markets, in partnership with local manufacturers, including one with Bannon Auto in the US.
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Mamata Banerjee wants 10 new auto hubs to generate income for railways Railway Minister Mamata Banerjee has proposed the development of 10 new auto hubs across the country for the loading and unloading of vehicles and their transportation through rail. Indian Railways has offered its land to auto companies for setting up these hubs, which can also act as locations for auto ancillary industries. The Society of Indian Automobile Manufacturers (SIAM) said that the Indian Railways could earn an additional revenue of Rs 1,000 crore by increasing its share in vehicle transportation from the current 2 per cent to 15 per cent, by 2015-16.
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Rahul Bajaj not sure about feasibility of small-car project Bajaj Auto Chairman, Mr Rahul Bajaj, has serious doubts about the feasibility of the company's small-car project with Renault-Nissan, according to media reports. The project, if it comes through, will operate on very low profit margins, despite the use of two and three-wheeler parts in the car. The low-cost car will also face tough competition from the Tata Nano and other players in the market. Bajaj said that there were already 13 car manufacturers in the Indian market, with 30-40 models, and that any new player would have to compete with other, well-established products.
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Auto industry profits expected to soar in Q3, 2009
Several Indian auto companies are expecting a sharp rise in their net profits in the third quarter of FY 2009-10. Most companies had been severely affected by the global economic slowdown and the rise in interest rates in Q3, 2008-09. It is on the back of a low base that they expect a surge in year-on-year sales and net profits. Tata Motors, Maruti Suzuki, Mahindra & Mahindra, Hero Honda, Bajaj Auto, Ashok Leyland and TVS Motors together expect a 536 per cent increase in their net profit in the third quarter of FY 2009, compared to the corresponding period last year.
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Harley-Davidson to source components from India
US-based motorcycle maker Harley-Davidson is planning to start sourcing bike components from India. The company had announced only a few months back that it would enter the Indian auto market in the middle of 2010. Harley-Davidson Asia-Pacific MD, Mr David Foley, said that the company's decision to source auto parts from India was in keeping with its strategy of sourcing vehicle parts from all the regions it operated in. The components most likely to be sourced from India are batteries, tyres and electric parts.
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TVS Motor re-launches Flame with twin-spark plug technology Two-wheeler company TVS Motor re-launched its 125cc twin-spark plug motorcycle, the TVS Flame, last week. The bike was first launched two-and-a-half years ago, and had run into controversy following a patent infringement claim by competitor Bajaj Auto. In September this year, the Supreme Court finally ruled in favour of TVS Motor, allowing it to manufacture and sell the Flame with its twin-spark plug technology. Priced at Rs 49,200, the TVS Flame DS 125 is powered by CC-VTi technology and continues to use twin-spark plugs.
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Mercedes-Benz India launches advanced diesel version of E-Class
German luxury car company
Mercedes-Benz launched an advanced diesel version of the E-Class in India last week. The E350 CDI is priced at Rs 48.08 lakh (ex-showroom, Delhi) and comes with a 3 litre V6 diesel engine. It features a package of fuel-saving technologies,
known as 'Blue Efficiency Technology', which helps save fuel by up to 13 per cent. Mercedes-Benz India MD and CEO, Mr Wilfried Aulbur, said that the company would continue to focus on its E-Class and M-Class products to maintain a healthy growth rate in the country.
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Tata Motors resolves problems with Nano vendors
Tata Motors
announced last week that all compensation issues with the Tata Nano's component vendors had been resolved. Vendors are expected to shift their production units to Sanand, Gujarat by March 2009. After Tata Motors decided to move the manufacturing facility of the Nano from West Bengal to Gujarat in October 2008, there had been some uncertainty regarding how vendors would be compensated. Mr Rajiv Dubey, the President of Tata Motors' Passenger Car Division, told mediapersons that a mutual agreement had been reached between the company and the vendors, and that there were no remaining issues. The Nano's erstwhile production site in Singur is now expected to be used to set up a power plant.
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Auto component maker Steel Strips gets Rs 195 crore order from Renault
Indian auto ancillary company, Steel Strips Wheels, bagged an order worth 28 million euros (Rs 195 crore) from French carmaker Renault last week. The company will supply steel wheel rims to Renault. In a filing to the Bombay Stock Exchange, Steel Strips said that it would supply more than 3 million wheel rims to Renault over a period of five years. The statement led the company's shares to shoot up by nearly 5 per cent.
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GM chief Fritz Henderson apologises for unexpected turn in Opel deal
General Motors Chief Executive, Fritz Henderson, apologised last week for the company's shoddy handling of the Opel deal. In a television interview in Germany, Henderson said that he deeply regretted provoking angry reactions from government leaders, Opel workers and trade unions in the country. He said that the company bosses had not intended to shock anyone by deciding to keep Opel and restructure it on their own.
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NEWSLETTER ARCHIVES - Auto News Roundup, 12-November-2009 - Auto News Roundup, 10-November-2009 |
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