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Monday, 25 January 2010
Maruti Suzuki has a reason to smile.
The car maker announced that there is an over three-fold increase in its quarterly net profit. The net profit is at Rs.687.53 Crore in the third quarter of the current fiscal ending December 31, 2009, against the same quarter of previous fiscal year, while its net sales went up by over 62 per cent to Rs.7,334 Crore.
This profit can be said to have been fuelled by easy and affordable car loans and a reviving domestic economy.
Maruti Suzuki's chief financial officer Ajay Seth remarked, "This has been a good quarter," as he announced the company would expand capacity to defend its market leadership position from global rivals and meet increasing domestic demand.
Many car makers such as General Motors, Renault, Toyota and many more have disclosed their plans for new car launches in India to have a bigger piece of the fast-growing market share to counter sluggish demand in the developed countries because of the global recession.
India has now emerged as the third largest car market in Asia, China being the first followed by Japan. Moreover, India is one of the few countries where automobile sales are rapidly increasing. In India, car sales jumped 19 per cent last year to 1.43 million units.
Maruti Suzuki sells about one in two cars in the country and its sales jumped 62.5 percent to 73.34 billion rupees.
Ajay Seth also said Maruti Suzuki planned to invest 17 billion rupees to make 250,000 more cars each year from April 2012, thereby increasing the total capacity from one million units to two and a half times. This expansion would take place at the car company's facility at Manesar. He added that the car maker could further ramp up capacity "if there is a need later."
The car manufacturer attributed the profit increase partly to government stimulus measures aimed at helping the industry ride out the global economic slump. These measures have put more money into the hands of India’s growing middle class.
The company said that favourable conditions in the domestic market supported by the government’s stimulus package and ease of automobile finance helped achieve good sales. Nearly four-fifths of cars in India are bought using car loans.
Maruti Suzuki’s domestic sales in the quarter jumped by 38 per cent to 218,910 units while exports soared by 167 per cent to 39,116 vehicles, spurred by European government incentives to scrap gas guzzlers.
The company is now "cautiously optimistic" about sales volumes in the fourth quarter but added rising commodity prices would put pressure on profit margins. Labels: Car-Sales, India-Car-Exports, Indian-car-market, Maruti-Suzuki, Maruti-Suzuki-Cars, Maruti-Suzuki-Cars-India, New-Car-Launch-In-India, New-Cars-India
Friday, 13 November 2009
Nothing is stopping this luxury car maker. It was reported that the company is having a dip in sales this year, but Mercedes-Benz still have hope that its world class model cars would never fail to conquer the hearts of the Indian car lovers. And understanding the fact that the company will have to face ups and downs in the business and the success lies in tacking and handling the situation well, Mercedes is ready for the war. And to reinforce its strong will the company has launched a new advanced version of its E-Class sedan in the country. The new E-Class sedan will have a diesel engine.
The diesel E-Class is powered by a 2,987 cc 6-cylinder engine, the new E350 CDI BlueEFFICIENCY would reduce fuel consumption, the company said in a statement.
The company has high hopes on its advanced version of its E-Class sedan. And it is hoping to register impressive growth from next year onwards. Last year, the company had sold 3,625 units in the Indian market. It had launched a special edition of its C-Class sedan in August.
The advanced E-Class with the diesel engine will be available to the customers priced at Rs 48.08 lakh (ex-showroom Delhi). Labels: Diesel-Cars, Mercedes-Benz, Mercedes-Benz-Cars, Mercedes-Benz-E-Class, New-Car-Launch-In-India
Wednesday, 28 October 2009
Premier Ltd. is among the oldest auto makers of India. And the company has launched its first ever sport-utility vehicle model. This new mini-SUV will be manufactured with China's Zotye Holding Group. This new kid of Premier is expected to be a tough competition for Maruti Suzuki Gypsy, Scorpio M2Di, and Mahindra Bolero.
This is an auspicious occasion for Premier as RiO, this new SUV of the company, is the beginning of a new phase of the company in India. The once famous company has manufactured the all-time favourite Indian car, Premier Padmini. And now, the company is expecting to repeat the magic.
The 1.5-liter turbo-diesel engine RiO will be imported by Premier from Zotye and will be assembled at its factory in Pune.
Premier RiO is based on the first-generation Daihatsu Terios. And it is powered by Premier’s own engine that is basically a downsized Peugeot TUD5 diesel engine. The 1490cc engine RiO delivers a 65 bhp of peak power.
The company is taking necessary steps so that RiO will meet the new emission norms of the government that will come on effect from April 1, 2010.
It is also expected that the company will start delivering RiO in the month of December. This mini-SUV was expected to launch in the Indian market during Diwali. The growing love for SUVs in the country will truly help in the sales of RiO. During April-September 2009, the sales of SUVs in India rose 3.5%. And it is expected that the demand will still grow because of the rising disposable incomes and the construction of more cross-country highways.
The Rio will be offered in three variants, the EX, which is priced at Rs 5.25 lakh, the DX at Rs 5.50 lakh, and LX at Rs 5.95 lakh, ex-showroom, Pune. Labels: New-Car-Launch-In-India, New-Cars-India, Premier-Auto, Premier-Automobiles-Limited
There is a pleasant news for the Montero lovers!
Mitsubishi is launching an all new Montero. This piece of news can also delight those serious off-roading fans.
Mitsubishi is launching an all-new Mitsubishi 3.2 DI-D Montero. It will give its customers the power of 200 horses. This new car will be an entirely revised version of Mitsubishi Montero. And it will be available in the international market very soon. Currently, the Mitsubishi Montero delivers some 162 bhp. And this new version of Mitsubishi is expected to be more fuel efficient than the existing Montero. The company claims that the new Montero will consume only 17 per cent less fuel when comparing with its predecessor.
The new Mitsubishi is a 4×4 equipped vehicle. And it is available in both automatic and manual transmission. There are a whole lot of modifications done to the bearings, pistons, camshaft, cylinder heads, connecting rods, valve train, turbocharger, oil pump, injection system and ECU. The maximum torque available is 441 Nm at 2,000 rpm.
The new Montero has an improved insulation, inside and out, thicker front glass and a well protected windshield. The changes made to the engine of the car helps to reduce the noise and vibration.
It will also be spotted having new upholstery and body colors, bluetooth integration with steering wheel controls, and MMCS browser.
The car is expected to be launched in the international market by 15th of December. The price of the car is not available yet. But this all new power packed Montero is sure to pose strong competition for the Mercedes-Benz, Audi, and BMW. It is also not know when the car will be released in the Indian car market. Labels: Mitsubishi, Mitsubishi-Cars-India, Mitsubishi-Montero, New-Car-Launch-In-India, New-Cars-India
Monday, 27 July 2009
 Kindled by the success of the petrol-driven Hyundai i10 here in India, the Korean car major, Hyundai, has scheduled a diesel version of the Hyundai i10 by next year. The new diesel version of the i10 is likely to come with a 1.1 L CRDi engine. This diesel engine will be more fuel efficient and will offer improved drivability due to its higher torque output compared to the petrol. The diesel version of the compact car is expected to be expensive compared to the petrol-powered i10. Though the car’s transmission will be built in its Chennai plant, Hyundai Motor India will be importing the engines from its parent company in South Korea. At present, the Indian arm of the Korean automaker has a petrol engine plant at Sriperumbudur near Chennai which makes Kappa and Gamma engine. Hyundai is the second largest car manufacturer in India. Hyundai holds a market share around 20 per cent in the passenger cars segment. The Korean car company is counting to scale it up to over 25 per cent by 2012. In order to strengthen its hold further in the car market, Hyundai Motor Company has plans to launch new cars in India. The i10 diesel is going to be the smallest diesel car in India. Hyundai has recently introduced the diesel variant of the i20 in India. It is also planning to roll out the entire i-series cars in Indian car bazaar. Labels: Hyundai-i20-Diesel, Hyundai-Motors, New-Car-Launch-In-India
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