Two-wheeler manufacturer Hero MotoCorp Thursday reported a 58.62 percent increase in its second quarter net profit which stood at Rs.763 crore from Rs.481 crore in the corresponding quarter of the 2013-14.
The company’s turnover which includes proceeds from net sales and other operating income rose by 20.76 percent to Rs.6,915 crore from Rs.5,726 crore reported in the second quarter of last fiscal.
Toyota Kirloskar Motor on Tuesday launched updated versions of its sedan Etios and hatchback Etios Liva.
The petrol variants of the Etios are available for Rs 5,74,081 and Rs 7,06,567, while the diesel variants of the sedan are priced at Rs 6,84,081 and Rs 8,16,567 respectively (ex-showroom Delhi).
Further, petrol versions of Etios Liva would retail at Rs 4,76,142 and Rs 6,57,105, while the diesel variants of the hatchback would cost Rs 5,94,642 and Rs 6,95,460 respectively.
Commercial vehicle-maker Ashok Leyland Ltd is planning to roll out electric and hybrid buses in India from next year, said a top company official here Wednesday.
Speaking to reporters, managing director Vinod Dasari said the company’s British subsidiary Optare is a leading manufacturer of electric and hybrid buses and the idea is to bring its products to India.
“The proposed buses will be made and marketed under Ashok Leyland brand name. The company would also look at exporting the vehicles to neighbouring markets,” he said.
Two and three wheeler major Bajaj Auto Tuesday reported an decrease of 29.4 percent in its net profit for the second quarter of the current fiscal at Rs.590.90 crore against Rs.837.16 crore in the like period of previous year.
According to the company, it has recognised a liability of Rs.340.29 crore for the last seven and a half years as a one time charge towards national calamity contingent duty (NCCD).
“The company had filed a writ petition before the High Court of Uttarakhand, in
Automobile major Tata Motors’ commercial vehicle division Tuesday launched its new intermediate and light commercial vehicle (ILCV) range of trucks christened ‘ULTRA’ in Sri Lanka.
“Keeping in mind the changing needs of customers and changing technology, we have once again taken a pioneering step in Sri Lanka’s commercial vehicle industry by launching the Tata ULTRA range of trucks,” said Ravi Pisharody, executive director, commercial vehicles business unit, Tata Motors.
Tata Motors on Tuesday said it has received another order to supply 928 Tata Marcopolo built buses to the State Transport Authorities in South India.
The order comprises 487 units bagged from Karnataka (Karnataka State Road Transport Corporation), 40 units from Puducherry (Pondicherry Road Transport Corporation), 97 from Kerala (Kerala State Road Transport Corporation) and 304 from North East Karnataka region (North Eastern Karnataka Road Transport Corporation), Tata Motors said in a press release.
Two-wheeler major Hero MotoCorp Monday appointed internationally-acclaimed automotive technology expert Markus Braunsperger as its chief technology officer (CTO).
According to the company, the move builds on its vision to further augment its technology capabilities through the best of global talent, global alliances and state-of-the-art infrastructure.
Domestic passenger car sales declined 1.03 per cent to 1,54,882 units in September from 1,56,494 units in the year-ago month.
Motorcycle sales last month climbed 19.34 per cent to 10,56,509 units from 8,85,309 units a year earlier, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
The total two-wheeler sales in September rose 23.81 per cent to 15,67,351 units.
Sales of commercial vehicles rose 8.59 per cent to 56,140 units in September, SIAM said.
Tata group’s Land Rover has forayed into an elite club of world’s 100 most valuable brands as the only Indian-owned entity, while iconic Apple has retained its top slot with nearly USD 119 billion valuation.
Land Rover, an iconic British car brand owned by Indian conglomerate Tatas, has been ranked 91st with a brand value of USD 4.47 billion and is one of the five new entrants on this annual list compiled by leading brand consultancy Interbrand.
Japanese carmaker Nissan on Friday launched a special edition of its mid-sized sports utility vehicle Terrano priced up to Rs 13,13,725 (ex-showroom Delhi) to commemorate the vehicle’s first anniversary in India.
This special version will come with a bundle of styling and convenience features, both on the exterior and interior front, Nissan India said in a statement.
With uncertainty looming over excise duty structure on automobiles as reduced rates expire on June 30, Hyundai Motor India may raise vehicle prices if the cess rate is reverted back to the levels before the interim Budget in February.
The company, which is India’s second largest carmaker by volume, said on Tuesday it had passed on the entire benefit to the customers while absorbing the impact of change of value on dealer stock which was compensated to dealers when the government reduced excise duty in February.
With the June 30 deadline fast approaching for expiry of reduced excise rate, car makers want the government to extend it further even as they adopt a wait and watch policy before considering price hikes.
“We certainly hope that the government of India will give us an opportunity to continue keeping our customers happy,” Nissan Motor India, VP sales and marketing, Ajay Raghuvanshi told PTI.
Asked if the company would raise prices after June 30, he said: “We will wait and watch the developments before making a firm decision on this subject.”
The Tata Group today said it aims to bring out a fully built aircraft for Ruag Aviation – makers of Dornier 228 new generation aircraft – parts of which are to be made in India by TASL.
Tata Advanced Systems Ltd held ground breaking ceremony here for manufacturing Dornier 228 fuselage and wings.
The Tata-Ruag partnership is a glowing example of cooperation between India and Europe, TASL Chairman S Ramadorai said.
Homegrown auto major Mahindra & Mahindra that has been developing a range of electric vehicles will review technology patents that American electric car maker Tesla Motors has made free for applicability to its products.
Mahindra Reva Electric Vehicles, a part of the Mahindra Group, has been working on a variety of electric vehicles (EV), including sports car ‘Halo’, which it expects to launch commercially in the next three years. The concept model was showcased at the Auto Expo held in February.
Kicking off a price war in the mid-sized sedan segment Ford India today launched the new version of its Fiesta model, priced up to Rs 9.29 lakh (ex-showroom Delhi).
The new Fiesta will directly take on Honda City and Hyndai Verna and is priced Rs 67,000 to Rs 1.7 lakh lower than the competition, depending on the variant.
The 2014 Ford Fiesta will be available in three options ? Ambiente, Trend and Titanium, all powered by 1.5 litre diesel engine, the company said in a statement.
Car market leader Maruti Suzuki India (MSI) has commissioned a solar power plant at its Manesar facility to harness renewable energy source in line with its policy of adopting Eco-friendly technologies.
The 1MW solar power plant has been set up at an investment of Rs 10.3 crore and was commissioned this month, the company said in statement.
Commenting on the initiative, MSI Executive Director, (Plant) Rajiv Gandhi said: “With the launch of 1MW photo voltaic solar power plant, Maruti Suzuki has taken the first step to harness renewable solar energy”.
Harley-Davidson might be planning to launch its first ever electric motorcycle on June 19.
In a 15-second long Youtube video, it is shown that a bike of some sort goes by on the route 66, it must be a Harley but it doesn’t sound like a Harley because it is quieter like the jet engine of a very small plane. And at the end the date 06.19.14 flashes with the company’s website and logo, CNet reported.
Though, an electric Harley was being spotted ridden on the set of the new ‘Avengers’ movie but the crew described it as a “production bike.” (ANI)
Suzuki Motorcycle India has slashed the price of its premium bike Inazuma by Rs 1 lakh bowing to customer demand.
“The price of Inazuma has been realigned by Rs 1 lakh,” Suzuki Motorcycle India Executive Vice-President (Sales and Marketing) Atul Gupta said.
When asked what was the reason for the peice cut, he said: “There is a lot of demand for the bike but customer feedback said the price is high. So we did it.”
The Inazuma, powered by a 250cc 4-stroke engine will now be available at Rs 2,09,369 (ex-showroom Delhi) as per the company’s website.
The West Bengal government has asked the Hindustan Motors management to submit a detailed revival package for its closed Uttarpara plant in the next two days.
“The management has been told to submit a revival package by June 19 and also how the company plans to clear the dues of workers,” Labour Secretary Amol Roy Chowdhury told reporters after a tripartite meeting called by him.
The management side was represented by its CEO Moloy Chowdhury and a senior executive of the company.
All the six registered trade unions of the plant were also present at the tripartite.
Scientists have created a new biofuel to get the cars running using ground coffee, including both caffeinated and decaffeinated forms.
The study by University of Bath found that different varieties of coffee, including Robusta and Arabica, have reasonably standard composition and relevant physical properties of fuel, suggesting that all coffee waste could be a “viable” way of producing biodiesel.
Electric car-makers Nissan and BMW are keen to collaborate with rival Tesla after the US company agreed to share its patents with competitors, the Financial Times reported today.
“It is obviously clear that everyone would benefit if there was a far more simple way for everyone to charge their cars,” the financial daily quoted an unnamed executive as saying.
The world’s biggest electric-car manufacturer, Nissan, along with rivals BMW and Tesla, together account for about 80 percent of the world’s battery-run electric car sales, the newspaper said.
General Motors India is focussing on improving efficiency in its operations and exports to reduce losses and overcome stress on its financial viability and future sustainability due to the tough market conditions.
“The business environment is very challenging. No doubt about it. Many other OEMS are also under stress in the current market situation where volumes are under stress,” General Motors India President & Managing Director Arvind Saxena said.
Hero MotoCorp, India’s largest two-wheeler maker, is looking to start selling bikes in the US next year, hoping to create a niche market for its products.
The company, which entered as many as 18 global markets in the past one-and-a-half years, is confident that its motorcycles will be accepted well in the US.
Ford has undraped its Ka+ sedan based on its hatchback Figo in Brazil, which is likely to replace the Figo.
According to media reports, Ford will launch the 2015 Figo in July this year in Brazil. The car is set to unveiling in the Indian market in 2015.
The Brazilian 2015 Figo is motorized by a new 1 litre petrol engine called Econetic, producing 85PS at 6500 rpm and 105Nm of peak torque at 4500rpm. The engine weighs 85 kilograms.
Brazil would be the first country to get the Ka+ sedan and the car will be launched later on in the rest of the world.
Electric carmaker Tesla announced on Friday it was giving up its patents to “the open source movement” to help spur electric vehicle technology.
The unusual move comes with Tesla enjoying huge success, but against a backdrop of multiplying legal squabbles among technology firms over patents.
“All our patents belong to you,” Tesla chief executive Elon Musk said in a blog post.