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Monthly Archives: July 2011

Indian Drives » 2011 » July

Hyundai Posts 37% Rise in Q2 Net Profits

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Article by Andrea Rodrigues
Hyundai Posts 37% Rise in Q2 Net Profits
Hyundai recently posted a rise of 37% in their net quarterly profits, after it logged in its global sales of vehicles and increased market share following its rival Japanese companies reeling from the natural disaster on March 11. Hyundai, which is the fifth biggest car manufacturer in the world, along with Kia Motors, its affiliate, reported a net profit of 2.3 trillion won or $2.2bn, for the quarter of April to June. This is a growth of 1.7 trillion won in comparison to a year before, and 1.9 trillion won in Q1. According to reports, the South Korean auto company has been recording earning based on consolidation for reflecting its affiliate’s earnings as well, which includes fiscal operations [...]

Toyota to Invest INR 1,650 Crores for Increasing Localisation, Capacity

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Article by Andrea Rodrigues
Toyota to Invest INR 1,650 Crores for Increasing Localisation, Capacity
Toyota recently announced that they would be making an investment of INR 1,650 crores for increasing their production capacity in their Indian operations to 1 lakh vehicles per annum. They also plan on increasing local components in their vehicles by 2014. Toyota, present in India through their JV with Kirloskar Group, will make an investment to the tune of INR 898 crores for expanding their production capacity in their existing two facilities in India by 2013. Another group company will also invest an additional INR 750 crores for opening machining and aluminium casting lines by 2014. According to a statement released by the company, the company plans to increase their production capacity to [...]

First Edition of 2011 Mahindra Monsoon Challenge a Success

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Article by Andrea Rodrigues
First Edition of 2011 Mahindra Monsoon Challenge a Success
The 2011 Mahindra Monsoon Challenge’s first edition recently concluded, following great driving skills around untamed tracks and treacherous tracks, the winners definitely made this event’s first edition an adventure to remember. The event began in Aurangabad with almost 50 cars taking part in the race, with the adrenaline levels quite high. According to Mahindra, the climate at the event was quite perfect and went along well with the moods of the participants which included a mother-son duo to businessmen. The event, which took place over a three day time frame, saw participants beginning from Aurangabad and reaching Goa via the NH 17. The company also stated that the last round [...]

M&M to Sell Luxury Tractors on Invitation in India

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Article by Andrea Rodrigues
M&M to Sell Luxury Tractors on Invitation in India
Many super luxury auto manufacturers sell out their cars on invitation only basis, however Indian utility manufacturer, M&M is getting ready to launch their super premium farm tiller on an invitation basis that is probably a first in the industry. India’s largest manufacturer of tractors will soon introduce their new premium product, named the Arjun International in India by year end. The tractor is a premium category, exclusively crafter model that will be available for sale only on invitation. The tractor is powered by a high power engine, featuring an air cooled cab for better driver comfort in the hot Indian summer. The tractor is expected to have a price ranging between INR 14,00,000 [...]

Auto Investments to Decrease Following Sluggish Demand in the Market

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Article by Andrea Rodrigues
Auto Investments to Decrease Following Sluggish Demand in the Market
According to a recent report from SIAM or Society of Indian Auto Manufacturers, the sluggish demand currently faced in the Indian auto market may make many companies put off from making any new investments in their additional facilities. As the lending rates for vehicle loans increased to the highest ever since two years, add to that the increased cost of fuel that put a dent in retail demand, automobile manufacturers were reviewing their expansion plans. The president of SIAM, Pawan Goenka, said that right now the market is a wait and watch strategy. Many companies are more watchful, with their approach being more cautious. There is also some delay increasing new capacities. In spite of the [...]
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