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| BAJAJ LAUNCHES SPORTS BIKE KAWASAKI NINJA FOR RS 2.7 LAKH PTI See this story in: The Economic Times New Delhi: Fuelling competition in the high-end bikes segment, the country's second largest two-wheeler maker Bajaj has launched its much awaited 250cc motorcycle Kawasaki Ninja, priced at Rs 2.7 lakh (ex-showroom, Delhi). Although it has re-entered the volume-driven 100cc segment recently, BAL's focus has always been executive and premium motorcycles. Bajaj Kawasaki launches Ninja 250R Business Standard http://www.business-standard.com/india/news/bajaj-kawasaki-launches-ninja-250r/372559/ Bajaj Auto launches Kawasaki Ninja 250R http://www.dailypioneer.com/207428/Snapshots.html Bajaj Auto http://www.thestatesman.net/page.news.php?clid=12&theme=&usrsess=1&id=270819 Bajaj launches high-end sports bike The Hindu Business Line http://www.thehindubusinessline.com/blnus/19071806.htm Bajaj launches Kawasaki Ninja The Hindu Bajaj launches Kawasaki Ninja for Rs 2.7 lakh The Indian Express Bajaj rolls out Ninja Deccan Herald http://www.deccanherald.com/content/29258/bajaj-rolls-ninja.html Daily News & Analysis Pune: Bajaj Auto on Wednesday said its alliances with Kawasaki and KTM are going strong and the company will launch products from the KTM stable within a few months in India.
Already in Philippines, Bajaj sells its bikes which are assembled in the Kawasaki plant and retailed through Kawasaki outlets. By doing this, Bajaj can make use of the strong distribution channel of its two partners globally and need not invest in setting up plants. From the Kawasaki portfolio, Bajaj has brought the super-sports bike--Kawasaki Ninja 250R--to the Indian market. The bike, which is being brought in a completely knocked down (CKD) form, will cost Rs2,69,970 ex-showroom Delhi. Bajaj Auto is setting up a dedicated assembly line for Kawasaki Ninja, investments for which were not disclosed. Eric Vas, president, new business, said the company has already assembled 60 Ninjas and plans to sell over 1,000 bikes within a year. To give Kawasaki a jumpstart in the Indian market, Bajaj said, "We will increase the number of probiking showrooms from the 24 outlets in 22 cities to 30 by the next year." Bajaj will also bring in KTM bikes in a few months, which will be in CKD form in the case of bigger bikes (1000cc plus), and also manufacture small bikes for the mass sports-bike segment. These bikes are likely to be in the 125-250cc range. On the company's performance, Bajaj said, "The first quarter has been the best in Bajaj's history and the second quarter will outdo it. We have been able to achieve this on the back of Discover 100cc which sold 50,000 units in August and 71,000 units in September. Of the total Discover brand, which sold 94,000 units last month, the major contribution has been from the new 100cc Discover." Bajaj is confident that with its strategy in place, it will be able to maintain robust numbers. "We did a mistake of being trying to be like someone else and by making smaller bikes. We missed the bus last year, but now we have our strategy in place." He said, "In Q1, we achieved the Ebidta margins of 19.5% and will maintain the same in Q2 as well." On speculation that the company would replace M&M in the latter's JV with Renault, Bajaj said, "We have not got any indication from Renault with regards to stepping in and moreover, we have no intentions of making a sedan with anyone, then be it M&M, Renault or Nissan." "We faced enough trouble by getting into the manufacturing of XCD and Caliber and now if we want to get into manufacturing a sedan, it will definitely hit us bad." Bajaj is partnering with Renault in making the ultra low-cost car project. Bajaj maintained that though it has branding issues with Renault, the project is progressing as per schedule to be launched in 2011. http://www.dnaindia.com/money/report_bajaj-auto-eyes-global-play_1296086 BAJAJ FOR 3-BRAND PLAN TO UP SALES Hindustan Times Mumbai: Bajaj Auto Ltd (BAL) is firming up a three-brand strategy in the premium and executive motorcycle space. We will have three distinct brands to cover the entire spectrum. Bajaj will be value for money, Kawasaki would be sport and KTM will bring in off-roading, Amit Nandi, general manager, Probiking, told Hindustan Times. All three motorcycle brands would be available at the companys Probiking chain of showrooms. Currently, the chain has 26 showrooms. BAL will expand the Probiking showroom chain to 30 at the end of this year and 34 by the end of 2010. The company launched on Wednesday its first Kawasaki motorcycle, the 250cc Kawasaki Ninja 250R, available between Rs 2.69 and 2.70 lakh, ex showroom, Pune. BALs decision to sell Kawasaki bikes is different from their earlier tie-up, which was essentially a technology partnership. The Ninja bikes would be imported as kits and will be assembled at the BAL plant in Chakan. Spare parts consignments have already been sent to these locations, he added. The company will also have to modify the existing showrooms before the KTM motorcycles are launched. All the motorcycles would be sold under their individual badges, and there will be no cross-branding, he added. Adil Jal Darukhanawala The Economic Times, Zigwheels The wait just got over! For bikers who aspired for top notch contemporary motorcycles without having to shell out in excess of a million rupees, rejoice! The spanking new Kawasaki Ninja 250 is here and is just what the doctor ordered! Before we get down to what all is on offer, here's something for you all to salivate on before we hit the road big time:
The Ninja 250 is the only serious 250cc twin cylinder street bike (well there is the vee-twin air cooled Hyosung Comet 250 if one can call it a competitor) on sale in Europe, the US and Japan and it has singlehandedly rejuvenated this class and type of bike after over a decade. Not for nothing therefore is it the bike of choice of a newer younger generation in the developed world. Here in India though it will be for those who want the big bike experience, feel and performance in a smaller, lighter and more manageable package. The overall layout and proportions of the bike make for a machine with a generous 1400mm wheelbase (aids in strong stability) but with a sharp yet easy to handle rake angle for quick, precise and safe turn-ins. The weight is well spread front to rear and with an ultra-comfy 790mm saddle height, it is just right for the average Indian physique. Factor in a fantastic riding position - well tuned for both upright seating as well as a propensity to crouch behind the fairing for high speed blasts, and you know that the Ninja 250 is what will set the benchmark for all other 250cc sports bikes from here on. In fact its nearest rival, in stance, performance, steering geometry and handling plus the desirability quotient comes in the form of the Bajaj Pulsar 220 DTSi but then the latter machine has yet to get so many tasty bits which are already on offer in the Kawasaki. Copyright 2009, Bennett, Coleman & Co. Ltd. All Rights Reserved" | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AUTO PARTS FROM CHINA: GOVT NO TO SAFEGUARD DUTY PTI See this story in: Rediff India The government has refused to impose safeguard duty on imports of some auto components of medium and heavy commercial vehicles from China, saying these are not affecting the domestic industry. After conducting an investigation following a complaint filed by Bharat Forge, the Directorate General of Safeguard and Allied Duties said it did not find sufficient evidences to impose the duty. "There is no sufficient evidence of causal link between the increased import of products and the market disruption of the domestic industry...so no safeguard duty are recommended," an official said. Bharat Forge, leading auto component maker, had sought imposition of safeguards duty on imports of front axle beam, steering knuckle and crankshaft of medium and heavy commercial vehicles into India from China to protect the domestic players. Subsequently, DGS carried out the investigations and found the increase in imports were temporary in nature. Unlike anti-dumping duty which varies from product to product and country to country, safeguard duty is levied in a uniform way. Both duties are allowed under the multilateral trade rules after investigations to stand the WTO scrutiny. A recent WTO report said among the G-20 countries, India initiated the maximum safeguard probes during January-July, 2009. The report said out of the total 16 investigations started to impose safeguard duties, India accounted for 14. India has started safeguard investigations mainly on imports of hot-rolled coils, sheet, strips, coated paper and paper board. http://business.rediff.com/report/2009/oct/07/auto-parts-from-china-govt-no-to-safeguard-duty.htm No case for safeguard duty on crankshaft from China The Hindu Business Line http://www.thehindubusinessline.com/2009/10/08/stories/2009100852331500.htm VW SENDS PARTS FROM INDIA TO RUSSIA The Hindu Business Line Chennai: The Volkswagen group is planning to source auto components for global operations from India. The first consignment is already on its way to Russia, said Mr Jorg Muller, President and Managing Director, Volkswagen India Pvt Ltd. Refusing to identify the components and to put a number to the value of the consignment, he said the company would initially source lighting systems and a host of rubber and plastic components. Even our proposed compact car, Pol o, will contain 50 per cent locally sourced components, he said. As of now, the group has 15 models under three brands Volkswagen, Audi and Skoda. Apart from Polo, which is likely to be rolled out early next year from its Pune plant, the company plans to launch Beetle and another sedan next year. With all these, the group targets 8-10 per cent share of the expanded India car market in five years. The groups market share is 1.5 per cent. http://www.thehindubusinessline.com/2009/10/08/stories/2009100850160200.htm | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CAR, TWO-WHEELER TYRE PRICES INFLATE ON LOWER SUPPLY Chanchal Pal Chauhan New Delhi: The prices of car and two-wheeler tyres have risen by up to 7% this festival season due to unprecedented demand for vehicles and lower supply. While the owner of a vehicle will need to shell out 5-7% more, or Rs 150-200, for a new tyre, carmakers will have to absorb an additional cost of around Rs 800 for every new car they sell. A shortage in the market has led to shrinking of inventories at tyremakers to just 5-7 days from 20-25 days, hurting production at carmakers such as Maruti Suzuki, Hyundai Motor India, Tata Motors, General Motors India and Ford India. Two-wheeler makers such as Hero Honda Motors, Bajaj Auto, Honda Motorcycle & Scooter and TVS Motor are also facing production bottlenecks. Reduced output will lead to delayed deliveries by these auto makers. There has been an unprecedented demand for tyres from various auto makers and we are trying to meet it with all our plants operating at full capacity, said AS Mehta, director for marketing at JK Tyres & Industries. Although carmakers refuse to disclose impact on production, analysts estimate that output may fall by 5-10% as tyre supplies are far below requirement. Also, tyre supplies were hit by a labour strike at an MRF Tyres plant in August. The output at the countrys largest tyre company is coming back to normal. There is a demand-supply mismatch. While production has increased in the past few weeks, the supply of tyres has not kept pace, resulting into shortages. We have asked tyre companies to augment supplies but that has not happened yet, a senior executive at Tata Motors said. Auto makers have alleged that tyre companies are charging arbitrary prices, but tyre makers say that they are trying to meet the demand despite production constraints. Tyres is a capital-intensive industry and there has been no major capacity addition in a year due to slowdown in the market and economic recession. While sales have jumped in recent months, production has not increased to that level, leading to shortages, said a senior executive of a tyre company on condition of anonymity. The tyre supply squeeze is expected to ease soon as auto sales are likely to drop once the festival season ends in October and tyremakers add fresh capacities in the coming months. Tyre dealers, meanwhile, say that manufacturers have withdrawn discounts and incentives due to shortage in the market. The industry produces 12-14 lakh car tyres every month of which about 60% is picked up by carmakers to bundle them with new vehicles they sell. Copyright 2009, Bennett, Coleman & Co. Ltd. All Rights Reserved" AMARA RAJA TO INK OEM DEALS WITH 2-WHEELER MAKERS Business Standard Chennai/ Hyderabad: Industrial and automotive battery manufacturer, Amara Raja Batteries Limited, is in advanced stages of negotiations with all the major two-wheeler manufacturers in the country, and the company is expected to sign original equipment manufacturer (OEM) deals with them by the end of the current financial year, according to managing director Jay Galla. Amara Raja launched its two-wheelers batteries in May 2008 and is the first Indian company to make the valve regulated lead acid (VRLA) technology batteries for the two-wheeler segment. We are also looking at tapping the hybrid and electric vehicles market and are currently developing products for this segment. We will enter into this space once the market emerges, Galla said, while declining to share further details. Amara Raja, which enjoys a 25 per cent market share in the automobile battery replacement market and about 26 per cent on the four-wheeler OEM side, clocked sales revenues of Rs 1,500 crore last year. We see a 20 per cent volume growth happening this year, Galla said. http://www.business-standard.com/india/news/amara-raja-to-ink-oem-deals2-wheeler-makers/372526/ WHY IS RUBBER ENJOYING A HAPPY HOUR? Nidhi Nath Srinivas The Economic Times In business, happiness is usually a zero sum game with clear winners and losers. Thats what makes the rubber industry a little hatke these days. From tyre companies to small farmers tapping rubber trees, everyone is enjoying a season in the sun. What has changed in the last few weeks? ET helps you join the dots. Tyre companies are happy because they are finally able to stock up on some affordable natural rubber the critical raw material, and resuscitate profit margins. Natural rubber comes from the milky sap-like fluid in rubber trees, whose yield depends on several factors including weather and age. Synthetic rubber comes from petrochemicals, and so directly linked to crude oil prices. It was US President Obama who helped Indian tyre companies find the sun. Global rubber prices crashed mid-September when USA imposed customs duties on Chinese tyres to protect the jobs of American factory workers. China is the single biggest tyre supplier to the US, as well as the worlds top tyre producer and ergo, rubber consumer. With a likely decline in exports, traders expected Chinese rubber consumption to drop. This was the perfect buying opportunity for Indian tyre companies, especially as most had not bought all the rubber their factories needed. Tyre companies have rapidly bought a large quantity overseas to reduce average raw material cost and improve margins. This stroke of luck comes not a moment too soon for tyre companies, that have seen some really dark days till now in 2009. According to the International Study Group, an organisation created by rubber producing nations, in 2009 global rubber production and consumption have both hit multi-year lows. But demand for rubber appears to have recovered faster than its supply. Tyre companies saw an eye-watering 60% jump in natural rubber prices between December 2008 and June 2009. We are paying more for the same tyres in the last one month as manufacturers are passing on this higher raw material cost. But these imports arent bothering Indian rubber plantations. They are making good money too. The decline in demand has been matched by a decline in supply this year, keeping local prices steady. Poor rains and frost have hit rubber trees in Kerala that could lead to above 10% drop in production. Plus, plantations know that eventually the gap between Indian and overseas prices will narrow, forcing tyre companies back into the local market. Moreover, as crude oil starts creeping up in sync with global economic recovery and makes synthetic rubber expensive, natural rubber will appear even more attractive. In short, while business is already good, plantations know there is every chance it could become better. We are very comfortable because current prices are giving us a reasonably good margin. Obviously we would like those days of Rs 120 per kg to come back. But there is comfort from the fact that whatever happens, we will never go back to those terrible days of rubber at Rs 70 per kg, says the Kochi-based managing director of a leading plantation company. Rubber farmers are equally satisfied. Market watchers say the marginal cost of producing a kg of rubber is not more than Rs 50, even after factoring in rising manual labour costs. So the current spot market price of Rs 105 per kg gives them no reason to complain. Will rubber industry continue to feel this warm and fuzzy? Sure. But only at each others expense henceforth. The stash of cheaper imported rubber with tyre companies will get exhausted very soon. They will then have to buy afresh at likely higher prices. Plantations are worried about sunny days ahead. The bad weather in Kerala, which threatened to keep production low in the current season, looks like it might suddenly improve. Better supply could be a dampner on spot prices. Only traders and consumers have no fear of vanishing good times. Volatility in this dead market has been just too dangerous for traders. As for consumers, it has never been good. There is a limit to what even President Obama can do. Copyright 2009, Bennett, Coleman & Co. Ltd. All Rights Reserved" Vikram Gour The Economic Times, Zigwheels In August 2001 Modi Rubber Limited ran into union trouble and post that the pressure from the shareholders resulted in the company having to close the gates on their tyre plant. Prior to this, the Modi Group had an illustrious history in the rubber market. The company's tie up with Continental all the way back in 1974 is one for the history books and the fact that they rose to the high echelons of corporate leadership in their time is still talked about. Of course in 2001 the company was almost written off with statements claiming how the mighty fall, but all that is set to change. It has been a hard eight years for the company and Mr. Vinay Kumar Modi has been a busy man during this period. Firstly he had to resurrect this company and in doing so he bought the stocks of the institutions that had invested in Modi, his brother's stocks and of course all this was combined with his own holdings, which in total now account for 83 per cent of the company's share. With the shareholder situation resolved, the objective was obviously to get back into business. Copyright 2009, Bennett, Coleman & Co. Ltd. All Rights Reserved" | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Hindu Business Line Mumbai: The rupee extended its gains for the fourth consecutive trading session, appreciating by 22 paise against the dollar on Wednesday. The domestic currency opened at 46.84 and strengthened to touch an intra-day high of 46.49. It gave up some of its gains to close at 46.66 as against the previous close of 46.88. The rupee had last touched 46.65 levels in the first week of June this year. There was a 15-20 paise arbitrage between the one-month non-deliverable forward and the spot market i.e. market players sold dollars in the domestic market and bought in the NDF market. Panic selling by exporters also strengthened the rupee, said a dealer with a private sector bank. However, dollar demand from oil companies and importers exerted pressure on the currency unit. The Reserve Bank of India is also rumoured to have intervened to check the rupees gains, said another dealer. Speaking to reporters on the sidelines of a banking seminar, the RBI Deputy Governor, Dr K.C. Chakrabarty, said that the central bank is not too concerned about the rupees appreciation. As a monetary authority we are concerned about the volatility. This has to be managed, he said. In the long term, the RBI is happy with the rupees movement, he added. Sustainable According to Mr Hitendra Dave, Head Global Markets, HSBC India, the rupees rally looks like a sustainable one. It is catching up with a lot of its Asian peers. It is not just about the rupees gains, but more about the dollar weakness globally. If the gain continues we will need to watch reactions of exporters and the RBI. Our immediate target is 46, he said. Currency futures The sharp appreciation in the rupee has led to more market participants looking to hedge their receivables on the currency futures platform. According to data provided by MCX Stock exchange, the currency futures market logged the highest turnover of Rs 10,798 crore since the date of its inception a year ago. The exchange clocked a turnover of Rs 8,271 crore on October 6 and Rs 6,441 crore on October 5. If the rupee continues to appreciate, things will get difficult. As it is, we had to lower prices to be competitive in the international markets. Now with rupee also gaining, it will squeeze our margins, said Mr Aman Chadha, Chairman, Engineering Export Promotion Council. Hedging Whether exporters will start hedging or not will depend on the rupees movement over a longer period of time rather than just one or two trading sessions. It is difficult to hedge when there is too much volatility as one doesnt know which way the rupee will move, Mr Chadha said. In the forward premia market, the 6-month premium closed higher at 3.19 per cent (3.15 per cent) and the one-year closed at 3.4 per cent (3.3 per cent). http://www.thehindubusinessline.com/2009/10/08/stories/2009100851680600.htm SENSEX FALLS ON CONCERNS OVER RISING RUPEE PTI See this story in: The Hindu Business Line Mumbai: Paring its early gains, the Bombay Stock Exchange benchmark Sensex on Wednesday declined by 152 points after heavy selling in IT shares on concerns that firming rupee will hit the revenues of software companies. The 30-share index, which had gained 162 points during the day, closed at 16,806.66 points, a loss of 151.88 points over last close. The wide-based National Stock Exchange index Nifty lost 41.65 points at 4,985.75. It touched the day's high of 5,077 poin ts and a low of 4,972.95 points. Brokers said the rupee which traded below 47 level against the US dollar triggered the selling in IT stocks. Software exporters earned over 50 per cent of revenue from the US market and rising rupee hit their profitability. The IT sector index suffered the most losing 2.74 per cent to 4,421.27 as shares of TCS, Wipro and Infosys Technologies, which are scheduled to announce their results on October 9, fell sharply. Sensex-related Bharti Airtel declined after its rating was cut by Macquarie Group to under- perform from outperform. http://www.thehindubusinessline.com/blnus/05071901.htm INFLATION WORRY MAY WEIGH HEAVY ON RATES The Times of India New Delhi: With some concern over the impact of continued high food prices on inflation which is back in the positive zone, a view is emerging in government that it might be time to slowly prepare the ground for changes in interest rates even as a hike is ruled out in the near future. Copyright 2009, Bennett, Coleman & Co. Ltd. All Rights Reserved" Last Financial closing
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Monday, October 19, 2009
Indian Auto Industry Update October 08, 2009
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