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India Auto News Tuesday, 23 Feb. 2010 |
National - Maruti Suzuki Chairman RC Bhargava gets Lifetime Achievement Award- Mercedes-Benz India launches S-Guard at Rs 6 crore - Hyundai India crosses 1-million mark in exports - Nissan to open Chennai plant on March 17, 2010 - Budget 2010 may push up excise duty by 2 percent - Bajaj Auto to ramp up production of Pulsar 135LS, sells 50,000 units in 75 days - Takashi Nagai to be next President and CEO of Honda Siel - Volkswagen India to start used-car business by 2012 International - Toyota President to appear before US Panel- Mazda will not poach Toyota customers, says company CEO Kiyoshi Ozaki |
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Maruti Suzuki Chairman RC Bhargava gets Lifetime Achievement Award
Mr R C Bhargava, Chairman - Maruti Suzuki India Limited (MSIL), was given the Lifetime Achievement Award for Management at the All India Management Association's (AIMA) 54th Foundation Day celebrations this week. Mr Bhargava said on the sidelines of the awards ceremony that a step-by-step withdrawal of the stimulus package would not hurt the auto industry. He said a small increase in excise duty in the upcoming budget was unlikely to have any negative repercussions. |
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Mercedes-Benz India launches S-Guard at Rs 6 crore
Mercedes-Benz India this week launched the most expensive limousine in the country - the S-Guard - at an approximate price of Rs 6 crore. The S-Guard shares its platform with the S 600, and is powered by a 12-cylinder, 5.5 litre petrol engine. Mercedes-Benz India board member, Mr Suhas Kadlaskar, told mediapersons that the company wanted to "tap the growing market for armoured and protective vehicles in India" with the new car, which is targeted at celebrities, industry leaders and government officials. |
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Hyundai India crosses 1-million mark in exports
Hyundai Motor India Limited (HMIL) recently crossed the 1-million mark in car exports. The company shipped 500 units of the i20 to Australia this week,
and is planning to enter 10 new export markets within this year. Mr Arvind Saxena, HMIL Director - Sales and Marketing, said that the company's total sales were expected to rise marginally this year, which would increase its market share from 20.6 percent in 2009 to 21 percent in 2010. Hyundai's exports are currently dominated by the i20, which is manufactured at the company's Chennai plant. |
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Nissan to open Chennai plant on March 17, 2010
Japanese car company Nissan will start operations at its Chennai facility on March 17, 2010. The new manufacturing facility, developed by Nissan along with its French partner Renault, will be inaugurated by Carlos Ghosn,
Chairman and CEO of Renault-Nissan. Nissan will manufacture its small car, Micra, at the new plant. The Micra will also be
produced in four other countries apart from India. A Nissan official said that details regarding the car would be made public at the Geneva Motor Show next month. |
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Budget 2010 may push up excise duty by 2 percent
The President of the Society of Indian Automobile Manufacturers (SIAM), Mr Pawan Goenka, said this week that the auto industry would have to prepare itself for a 2-percent hike in excise duty in the upcoming budget. He said that a 2 percent hike, which would push up the current excise duty on small cars from 8 percent to 10 percent, was reasonable, but that anything steeper than that would hurt the auto industry. Excise duty on bigger vehicles is 20 percent, which Goenka said should be left as it is. |
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Bajaj Auto to ramp up production of Pulsar 135LS, sells 50,000 units in 75 days
Bajaj Auto has sold 50,000 units of its 135cc sports bike, the Pulsar 135LS, in the first 75 days of its launch. The Pulsar 135cc was launched on December 9, 2009, and comes at a competitive price of Rs 51,000 (ex-showroom, Delhi). Mr S Sridhar, Bajaj Auto (Two-Wheelers) CEO, told mediapersons that, with its cutting-edge technology and great looks, the bike had no rivals in India. He added that the company would ramp up production at its Chakan plant in April 2010 to meet increasing demand. |
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Takashi Nagai to be next President and CEO of Honda Siel
Honda Siel Cars India (HSCI) this week named Takashi Nagai its next President and CEO. Mr Nagai will assume office on April 1, 2010. He currently serves as the Executive Vice President of the Asian Honda Motor Co. in Thailand, and will replace Masahiro Takedagawa in India. His responsibilities will also include looking after the overall operations of Honda Motor India Private Limited. Mr Masahiro Takedagawa, who became HSCI's President and CEO in April 2005, will now move to Canada as President and Director of Honda Canada Inc. |
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Volkswagen India to start used-car business by 2012
Volkswagen India is planning to enter the country's pre-owned car segment by FY 2012. Mr Neeraj Garg, Director, Volkswagen Passenger Cars, Volkswagen Group Sales India, told mediapersons last week that the company expected a good number of premium car owners to upgrade to VW's used luxury cars. A Credit Analysis and Research Ltd report says that the used-car market in India, which stood at 1.5 million units in FY 2009, is growing at a compound annual growth rate of 20 percent. |
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Toyota President to appear before US Panel
The President of Toyota Motor Corp, Mr Akio Toyoda, agreed last week to appear before the US Congressional Panel investigating the company's car recalls. Toyoda had earlier said that he would not be present for the hearing as he trusted Toyota's US officials to handle the situation effectively. However, he changed his plan and decided to go for the hearing after being invited by the investigating committee's chairman, Edolphus Towns Jr. Mr Toyoda said in a press statement that he looked forward to "speaking directly with the Congress and the American people".
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Mazda will not poach Toyota customers, says company CEO Kiyoshi Ozaki
Japanese car company Mazda Motor Corp has said that it will not try to lure away Toyota's customers through marketing campaigns like other competitors, but will instead focus on building its own internal transparency. Mazda's Chief Financial Officer, Kiyoshi Ozaki, told a television channel that the car recalls announced by Toyota had not affected Mazda's sales. He said his company made cars with unique features and had its own clientele, which was different from Toyota's. |
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NEWSLETTER ARCHIVES - Auto News Roundup, 18-February-2010 - Auto News Roundup, 16-February-2010 |
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