Maruti Suzuki has become the first Indian company to sell more than a million passenger cars during this fiscal , with as many as 1,018,365 cars being sold from its showrooms during 2009-10. The company sold 870,790 vehicles in the local market and exported 147,575 cars from India. Both these figures were the best-ever, Maruti… Read More »
Hinduja Group is all set to enter into the car loan business in India. It received RBI approval, thus clearing its entry into the market. The group will venture into the vehicle financing biz as a new company, Hinduja Leyland Finance (HLF) which has been set up with a starting capital of Rs. 100 crore… Read More »
After Tata Nano, Maruti Cervo and Bajaj-Renault-Nissan’s ultra-low-cost car intentions, now is the time for Toyota to launch a product for the entry level market. The assumption was first started by a Japanese magazine. It had printed an artist’s mind’s eye of Toyota’s low cost car. The magazine says the car is believed to be… Read More »
Sales of cars and two-wheelers kept on increasing in March despite latest price increases and partial withdrawal of stimulus package, aiding market leaders Maruti Suzuki and Hero Honda to superb sales in 2009-10. Hyundai Motors, Tata Motors, Mahindra & Mahindra, General Motors, Ford, Fiat and TVS Motor also posted record annual sales and an unexpected… Read More »
Toyota’simage may have been hit after the Japanese carmaker had to recall its vehicles in the US, but in India the company sees no effect and is looking at a robust growth. Sandeep Singh, deputy managing director (marketing) of Toyota Kirloskar Motor said, “No impact in India. Our sales have doubled. It’s limited to the… Read More »
All car producers are planning a 1-3% hike in prices from April 1, due to new emission norms and to combat increasing raw material costs. The hike is anticipated to be at least Rs 2,000 on a mini car, increasing to Rs 71,000 on a high-end luxury sedan. The rise is mainly due to rising… Read More »
Luxury car maker Mercedes Benzis intending to introduce its small car, the A Class, in India in a couple of years. Peter Trettin, president and CEO of Daimler, Central and Eastern Europe, Africa and Asia, said the company would market the A Class as its entry- level car in India. He said, “This will be… Read More »
Home loan and car loan rates are expected to rise in April. This is due to the sudden increase in interest rates by the RBI on 19th March 2010. The rate hike preceded by a month prior to the monetary policy is announced. The decision to increase the rate is due to increasing rate… Read More »
The timing came as a surprise to markets as it expected announcements on the rate front but only during its annual monetary policy announcement scheduled for April 20. RBI is of the opinion that monetary policy changes have a lag effect, so making announcements in a timely manner helps to avoid taking strong measures at… Read More »
Beating rival Mercedes as the numero uno luxury car manufacturer in India last year, BMW is set to increase manufacturing capacity at its Chennai plant as it targets sales exceeding 4,000 units in 2010. Peter Kronschnabl, President BMW India said, “In 2010, we aim to achieve double digit growth. In absolute numbers we want to… Read More »