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India Auto News Tuesday, 02 Feb. 2010 |
National - Mahindra & Mahindra to introduce 6-7 new variants in FY 2010-11- Tyre manufacturers expect double-digit growth in radial tyre production - Ashok Leyland registers 455 percent increase in Q3 net profit - Auto component makers unable to meet growing demand - Tata Motors may start second round of Nano bookings within 3-6 months - HSCI announces recall of 8,532 units of Honda City in Indian - Mercedes-Benz India introduces new version of S350 - Maruti to develop new engine for WagonR, Alto; starts shipping Ritz to SE Asia International - Toyota comes up with repair proposal for recalled cars- Peugeot Citroen to recall 90,000 cars manufactured jointly with Toyota |
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Mahindra & Mahindra to introduce 6-7 new variants in FY 2010-11
Auto company Mahindra & Mahindra announced this week that it would launch 6-7 new variants of its existing vehicles in FY 2010-11. The new variants will cover all the segments the company operates in, including utility vehicles, commercial vehicles and three-wheelers, said M&M President (Automotive), Mr Pawan Goenka. In addition, the company will also start production for the US market in April 2010, after the completion of its pick-ups' homologation in the country. |
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Tyre manufacturers expect double-digit growth in radial tyre production
Indian tyre manufacturers are confident of maintaining a double digit growth in radial tyre sales in the next few years, and are ramping up production accordingly. With several global car manufacturers now producing small cars specifically for the Indian market, tyre makers are making all possible efforts to expand their production capacities. In the October-December quarter of 2009, there was a 15-20 percent growth in the car radial tyre business. It is estimated that passenger car radials will continue to see an 18 percent growth in the coming years as well. |
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Ashok Leyland registers 455 percent increase in Q3 2009-2010 net profit
Commercial vehicle maker Ashok Leyland has reported an astounding 455 percent increase in its net profit in the October-December quarter of financial year 2009-10. The company's net profit, which stood at Rs 18.87 crore in Q3, 2008-09, rose to Rs 104.63 crore in Q3, 2009-10. This is largely due to changes in the company's capital management, which allowed it to bring down its financial expenses by 59 percent, even while production increased by 220 percent. |
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Auto component makers unable to meet growing demand
Indian auto component makers have been struggling to meet the increasing demand from vehicle manufacturers in the country. Demand for new vehicles has not dwindled even after the end of the festival season, as was expected earlier, taking component makers by surprise. Though efforts to expand capacity are already on, the gap between supply and demand is not likely to be bridged until April 2010, according to Mahindra & Mahindra President (Automotive), Mr Pawan Goenka.
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Tata Motors may start second round of Nano bookings within 3-6 months
Auto company Tata Motors may reschedule the second round of the Tata Nano's bookings to an earlier date. According to media reports, the company is likely to re-open bookings for the car in the next three to six months. Apart from increasing demand, a major reason for early round-II bookings is that 20-25 percent of the Nano's original bookings have been cancelled. The delivery schedule for the car's first set of customers has also been preponed from January-March 2011 to September-December 2010. |
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HSCI announces recall of 8,532 units of Honda City in India
Japanese auto company Honda has ordered a recall of 8,532 units of its popular sedan, the Honda City, in India, due to a fault in the car's power window switch. The defect has affected cars manufactured in 2007, and may cause problems in the window switch during heavy rains. The move is a part of a global recall by Honda, which also includes the first generation Honda Jazz. In India, however, the company sells the second generation Jazz, which has not been affected by the recall. |
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Mercedes-Benz India introduces new version of S350
Mercedes-Benz India last week launched a new version of the S350 model with both petrol and diesel engine options. The car's price ranges from Rs 80.5 lakh for the diesel variant (ex-showroom, Delhi) to Rs 82 lakh for the petrol variant (ex-showroom, Delhi). Mr Wilfried Aulbur, Mercedes-Benz India Managing Director, said that the new S350 would further strengthen the company's position in the luxury sedan segment. He also said that Mercedes' parent company, Daimler AG, was developing a new truck for India, to be launched in 2012.
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Maruti to develop new engine for WagonR, Alto; starts shipping Ritz to SE Asia
Maruti Suzuki India Limited (MSIL) is reportedly developing a new engine, codenamed YP3, for its compact cars Alto and WagonR. The YP3 engine will mark the next big step by Maruti in engine manufacturing, after the introduction of its successful KB series engines. Meanwhile, the company recently started exporting the Maruti Ritz to Indonesia. It shipped 500 units of the 1.2 litre petrol version of the car to the South East Asian country last week, and is hoping that it receives a good response
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Toyota comes up with repair proposal for recalled cars
Japanese automaker, Toyota Motor Corporation, which recently recalled 4.1 million of its vehicles globally due to defective accelerator pedals, and another 5.4 million vehicles in the US due to floor mat entrapment, has come up with a remedy for the problem. The company submitted a repair proposal to the National Highway Traffic Safety Administration in the US last week, an official from the Transportation Department said. The safety agency has not rejected the proposal, implying that Toyota can go ahead with its repair plan. |
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Peugeot Citroen to recall 90,000 cars manufactured jointly with Toyota
Following one of the world's biggest car recalls by Japanese auto major, Toyota, European car company Peugeot Citroen too will be recalling over 90,000 of its cars in Europe. The company will recall around 10 percent of two of its models - the Peugeot 107 and the Citroen C1 - jointly manufactured with Toyota in the Czech Republic. These cars are believed to be affected by the same gas pedal defect that recently prompted Toyota to recall over 9 million cars. |
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NEWSLETTER ARCHIVES - Auto News Roundup, 27-January-2010 - Auto News Roundup, 21-January-2010 |
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