INDUSTRY
DEALERS PROMISE INSTANT DELIVERY OF NANO, BUT TATA DIFFERS
PTI
See this story in: The Economic Times (Web & Print Edition)
New Delhi: In a contradiction of sorts, car dealers here are offering Nano off the shelf, even as Tata Motors claims that it is delivering only against the original one lakh bookings for the world's cheapest car.
A Tata Motors spokesperson said the company was Nanos to those who already have bookings as per schedule and at the same price as was committed during the bookings.
The spokesperson kept repeating the same answer when asked about the dealers' claim that Nano, the Rs one lakh car, was now available off the shelf, despite an order backlog of over 60,000 units.
The dealers' claim comes amid reports that Tatas are hiking the price of the car by up to Rs 15,000, an issue on which the company spokesperson said: "Tata Motors has not made any decision on any price increase on the Tata Nano."
Forced to shift from its original plant at Singur in West Bengal to Sanand in Gujarat, Tata Motors had decided to take bookings of the Nano in April 2009 through a lottery system due to production constraints and deliver the first one lakh units by 2010.
While the company had recently stated that open market sales of Nano are likely to begin by August with its Sanand plant going into production mode, dealers said the base model can now be purchased within a period of just two days.
"The base model is almost readily available. You can book and take the delivery tomorrow," a staffer at a New Delhi showroom said.
Another dealer said that medium and top-end versions of the car would take longer to deliver. "If booked, the top-end model can be delivered in 15-20 days," he added.
Tata Motors has handed over only 37,425 units till May this year since July 2009. The firm had selected 1.55 lakh customers through a draw, and only the first one lakh buyers were declared price protected.
Nano, touted as the world's cheapest car, is available at Rs 1.23 lakh-Rs 1.72 lakh (ex-showroom price, New Delhi).
When asked how they could entertain new bookings when the first one lakh cars were yet to be delivered by the company, a dealer said that it was being done through "management quota".
"You have to write an application to Tata Motors and it will be registered for booking... The car will be delivered under management quota," the dealer official said.
Earlier, the company was supplying Nano from its Pantnagar plant in Uttarakhand in limited numbers.
It had inaugurated the mother plant for Nano at Sanand in Gujarat earlier this month. The plant has a capacity of 2.5 lakh units per annum.
http://economictimes.indiatimes.com/News/News-By-Industry/Auto/Automobiles/Dealers-promise-instant-delivery-of-Nano-but-Tata-differs/articleshow/6055076.cms?curpg=2
Tata Nano now available off the shelf
The Hindu Business Line (Web Edition)
http://www.thehindubusinessline.com/blnus/02161401.htm
Dealers promise instant delivery of Nano, but Tata differs
The Pioneer (Web & Print Edition)
http://dailypioneer.com/263203/Dealers-promise-instant-delivery-of-Nano-but-Tata-differs.html
Tata Nano available off the shelf now
The Tribune (Web Edition)
http://www.tribuneindia.com/2010/20100617/biz.htm#3
Dealers, Tata differ on Nano delivery
Deccan Chronicle (Web Edition)
http://www.deccanchronicle.com/business/dealers-tata-differ-nano-delivery-711
Dealers promise instant delivery of Nano, Tatas differ
The Statesman (Web Edition)
http://www.thestatesman.net/index.php?option=com_content&view=article&id=331381&catid=40
No more waiting period for Nano
Rediff India (Web Edition)
http://business.rediff.com/report/2010/jun/16/auto-no-more-waiting-period-for-nano.htm
Dealers, Tata differ on Nano delivery
Asian Age (Delhi Print Edition)
Tata Nano available off the shelf now
Hindustan Times (Delhi Print Edition)
JAGUAR XJ HITS INDIAN SHORES
Muntaser Mirkar
The Economic Times, Zigwheels
The Jaguar XJ is here! Deliveries for the premium luxury sedan from the British car manufacturer have begun in India, with affluent buyers wanting to break away from the typical brigade of German luxury sedans, which include the likes of the Mercedes-Benz S-Class, the BMW 7-Series and the Audi A8 and side with Jaguar's aggressive and sporty image. Prices of the new car incidentally begin from Rs 85.05 lakh (ex-showroom Mumbai) for the stretched out Portfolio variant, powered by a naturally aspirated 5-litre V8 engine.
Jaguar has been on a major makeover spree that has been spearheaded by the sensuous XK and XF models - till now. The iconic British marque then launched what will be the revitalised company's fourdoor flagship. This is a car that bears a history of pride - the all-new XJ. The XJ is a culmination of Jaguar's new design philosophy that has led the revival of what was a diminishing brand. The new design theme is a modern interpretation of the quintessential Jaguar keeping the XJ as recognisable as any of the older models that came before it.
Jaguar has made the activity of driving the XJ more like a living-at-home experience with loads of technology bottled up in the cabin. 12.3 high definition virtual instruments complimenting a 8-inch dual view touchscreen allow the passenger to enjoy DVD movies while the driver gets to access vehicle information or the navigation system. The XJ gets a top-of-the-line 1200W Bowers & Wilkins audio system along with hard-drive based audio and navigation and comprehensive connectivity for portable audio and video devices via the powerful Media Hub.
Elevating all that style to heights of scintillating performance are a wide choice of engines that range from the 3 litre V6 diesel to 5 litre naturally aspirated and 5 litre supercharged V8s. In addition to these, the XJ will also have a 470 horsepower version of the supercharged V8 for those who want a little extra oomph under the bonnet. Making the act of putting all that power to tarmac a pleasurable one are a host of Jaguar's technowizardries - air suspension, adaptive dynamics (continuously variable damping), active differential control and quick ratio power steering.
The Jaguar XJ is not just about sheer opulence and performance - it is environment friendly too. The engines are fuel efficient and the car is manufactured using Jaguar's aerospace inspired aluminium body technology. With 50% recycled material used and a lifecycle approach to its manufacturing process, the XJ has a minimal carbon footprint. The XJ is the latest brick in the new Jaguar wall of uncompromising vehicles that are luxurious and sporty, powerful and refined.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
MAHARASHTRA TO MAKE VEHICLE REGISTRATION ONLINE
PTI
See this story in: The Hindu Business Line (Web Edition)
Mumbai: Making registration of new vehicles easy for customers, the Maharashtra Government has decided to make the process online.
We would soon introduce a system of registering newly purchased vehicles online to avoid the long wait at transport offices, the Minister for Transport, Mr Radhakrishna Vikhe-Patil, told PTI here.
As per the existing system, vehicle dealers approach the transport office for registration and the process takes a couple of days. With the new system, the dealers can register the vehicles online in a day and need not approach the transport office, Mr V ikhe-Patil said.
The Minister said the facility of getting driving licence online would be extended to other cities and towns across the state. The facility is currently available in 24 offices in big cities like Mumbai, Thane and Pune.
Learning licences are given in a day and permanent ones are delivered at the door step within three days, he said.
http://www.thehindubusinessline.com/blnus/27161001.htm
INTERVIEWS / FEATURES
M&M: PLAYING THE GLOBAL FIELD
Akash Joshi
Business Standard (The Compass)
Mumbai: As its overseas operations get wider, Mahindra & Mahindra (M&M) has started feeling the heat of the global dynamics. Global Vehicles, its exclusive distribution partner for pick-up trucks and sports utility vehicles (SUV) in the US, filed a suit on Monday, alleging a delay in product launches. The management at M&M holds that the suit is without merit and will be contested.
It will soon get into another contest, when the bidding process to acquire the Korean SUV company Ssangyong starts. On the face of it, the Ssangyong acquisition will not yield much, as the company has a minuscule market share of 1.5-2 per cent. The Korean market is also shrinking from 4.05 million vehicles in CY07 to around 3.5 million vehicles in CY09. Moreover, the $375-million Ssangyong has accumulated losses of around Rs 4,000 crore.
Funding for the acquisition will not be difficult, as the company has cash balances worth Rs 1,700 crore, and a debt-to-equity ratio of around 0.4:1. If the acquisition is funded through debt, with the first cut valuation estimates of around Rs 2,000 to Rs 2,500 crore, the debt-to-equity may rise to around 0.7:1, which is considered stable. The Korean company has liabilities of around Rs 2,800 crore, so cash infusion will be required at that front as well.
However, M&M can derive advantage from the fact that SSangyong has two strong brands Rexton and Kyron which are positioned in the premium segment. Moreover, its research and development facilities are supposed to be strong. This is something that M&M, with a market share of 55 per cent in India, will gain from. The Korean company also has presence in several key countries. Replicating these facilities afresh, say analysts, will take more than twice the valuation numbers doing the rounds. Gearing up with the bid of other players like Ruias from India, Renault and Nissan will surely heat up things.
The deftness of the management to get the right price, as it always has done in its acquisitions, will be the deciding factor.
http://www.business-standard.com/india/news/mm-playingglobal-field/398492/
CARs, SUVS & MUVs
CARMAKERS GEAR UP TO HIKE PRICES AGAIN IN JULY
Nandini Sen Gupta & Sumit Chaturvedi
The Economic Times (Delhi Print Edition)
New Delhi: Car companies are preparing to raise prices for the fourth time this year in July as raw material costs go through the roof, but are banking on strong pent-up demand to prevent sales from falling.
Companies like M&M, General Motors, Ford, Toyota and Maruti are negotiating the extent of the hike with their vendors. If commodity prices continue to rise at the current rate, we will be forced to go in for a price hike, said Pawan Goenka, president, auto and farm division, M&M.
Prices of commodities like steel and rubber have risen sharply since the second quarter of the previous financial year, with most of the increases coming in April-May. Overall, the commodity price curve has gone up by 20-25%, said Rajesh Jejurikar, chief of operations, auto division, M&M.
But with passenger vehicle sales rising 35% in April-May over last year, companies could pass on part of the commodity price hike to customers without worrying about losing market share.
Toyota Kirloskar said it reviewed prices every quarter, and like Honda and Maruti Suzuki, will take a final call next month. Car prices have already seen three mark-ups this year an input cost-driven hike in January followed by one due to the 2% excise duty hike in the Budget and another hike on account of the move to higher emission norms.
Ford announced a 1-2% hike in the price of its small car Figo from June. The company too will decide on raising prices of its other brands by July. We will assess the effect of a rise in commodity prices on our products by the end of the current quarter, said Ford India president and MD Michael Boneham.
Companies such as Volkswagen and Honda, however, will not take a decision just yet. In addition to commodity prices, Honda will watch the yen-rupee exchange rate, said Jnaneswar Sen, vice-president (marketing), Honda Siel.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
CAR MAKERS GEARING UP FOR NEW LAUNCHES
Rediff India (Web Edition)
New partnerships, exchange of technology, mergers and acquisitions are paving way for new launches in the world car market. The Indian car market too is gearing up for new launches as car makers are concentrating on new and trendy models for the buyers.
Be it Volkswagen's alliance with Maruti Suzuki or the Bajaj-Nissan-Renault trio, the associations are working towards the betterment of the future of cars.
Similarly, there are various tie ups happening all over the world that might in future trickle down to India as well. Last month Toyota and Tesla joined hands to develop electric cars. The electric car prototype may be ready for testing as early as this year.
This collaboration is all set to see the amalgamation of Tesla's electric vehicle technologies and Toyota's production know-how.
According to the company this joint venture will help to reduce the cost of future electric vehicles.
Most likely the prototype could be something like a current Toyota model using Tesla's lithium-ion battery system.
Another interesting development in the auto sector is the introduction of Google maps by Ford Motor in its cars. SYNC is an easy-to-use in-car connectivity system.
The cars are sync-equipped and can download directions from Google maps.
Using the free send to sync feature car owners can send Google Maps data from their bluetooth-enabled computers or mobile phones to their in-car sync systems.
In this system the electronic directions would be converted into audible turn-by-turn steps after being downloaded directly into sync.
And the route would be calculated on the spot using the latest traffic information.
Powered by Microsoft this feature has a voice-activated, cloud-based services, including directions, traffic reports, news, weather, movie listings, and search capabilities.
It also allows drivers to connect cell phones, MP3 players, and other bluetooth-enabled gadgets to communicate and transfer data with their in-car systems. Sync is expected to be introduced in India soon.
http://business.rediff.com/report/2010/jun/16/auto-car-makers-gearing-up-for-new-launches.htm
AFFORDABLE CARS ARE THE FLAVOUR OF THE SEASON
Rediff India (Web Edition)
This is the era of affordable cars and car manufacturers across the world are trying to come up with affordable cars that can be sold like hot cakes.
Affordable cars like Maruti 800, Ford Model T, Volkswagen Beetle, Citroen 2CV and the BMC Mini are some successful launches in India as well as the developed markets.
The launch of world's cheapest car 'Nano' from the Tata stable brought India's specialty of manufacturing affordable cars to the forefront. Many Indian and foreign players are trying to replicate Tata's success.
Gone are the days when foreign players could dump phasing out models in Indian market and be accepted by the masses. This is the age of India-specific cars and the Indian buyer wants the best at affordable prices.
So, how do carmakers make cars affordable? Today's lower-cost designs use fewer components and integrating electronic functions as against the old cost-cutting theory of stripping features and using cheaper materials.
Engineers of the Tata group came up with an affordable design for the masses through Nano. However, they could not inculcate features like air-conditioning, airbags and anti-lock brakes in the 'affordable' tag.
Following Tatas path, carmakers are redesigning components to make the technology affordable and in it the end it is all about a cleaver design. Sometimes reducing the overall standard of performance also helps cut cost.
Components like airbag modules, electronic stability control, automatic transmissions, miniature turbochargers, power steering and creature comforts like air conditioning are usually the first targets of companies' cost cutting measures.
Cleave designing and competitively priced cars are going to be sold like hot cakes in the BRIC economies that are the major driving factors of growth in the world auto sector.
This is the era of engineering challenges for developing low-cost cars and the companies that take these challenges head on would be the future winners.
http://business.rediff.com/report/2010/jun/16/auto-affordable-cars-are-the-flavour-of-the-season.htm
SUZUKI RECALLS VITARA IN US, NOT IN INDIA
The Times of India (Web & Print Edition)
New Delhi: The car recall scare continues. Japanese automaker Suzuki, that controls Indian car market leader Maruti, has recalled its Grand Vitara SUV in the US due to a steering problem, though the company added that vehicles sold in India were not affected.
As per reports, the steering problem on the vehicles could increase the risk of a crash. The company said the tension adjuster pulley on the pump's drive belt could break, causing the drive belt to come off and disabling the power steering. Suzuki is recalling about 47,000 Grand Vitaras from the 2006 model year.
When contacted, a spokesman for Maruti said the vehicles sold in India were not affected by the problem.
http://timesofindia.indiatimes.com/Biz/India-Business/Suzuki-recalls-Vitara-in-US-not-in-India/articleshow/6056682.cms
MALAYSIA'S PROTON IN TALKS WITH M&M AGAIN TO ENTER INDIA
PTI
See this story in: The Economic Times (Web Edition)
New Delhi: Malaysian car-maker Proton, which has been looking to enter the Indian auto market for the last many years, is understood to have started talks again with Mahindra & Mahindra for a partnership.
According to industry sources, talks between the two firms in 2007 did not fructify, following which the Malaysian car-maker had opened a dialogue with some other Indian players, including Argentum Motors.
Incidentally, an exclusive US dealer for Mahindra & Mahindra (M&M) filed a law suit this week against the Indian auto giant for delays in introducing a pick-up truck in the American market.
"Talks started again this year. There is a possibility of a partnership," a source in-the-know of the development said.
When contacted, a Mahindra & Mahindra spokesperson declined to comment, saying, "We do not comment on speculative reports." No comments could be obtained from Proton.
Earlier, Proton was linked with contract manufacturer Argentum Motors, which acquired the manufacturing unit of the defunct Daewoo Motors India at Surajpur, for a possible tie-up. Proton, on the other hand, is clear that it needs to have a presence in India.
"Moving forward, the group (Proton) will also focus on high-growth regional markets in ASEAN for the completely built-up (CBU) market, as well as China, India and Iran for the completely knocked-down (CKD) market," Proton said in its annual report for 2009.
The sources said M&M could provide Proton support in the assembly of CKDs. Proton has identified India as one of the key markets to export its products.
"Apart from the local market, we have begun a more aggressive approach to capture export markets as defined under the Asian Multi-Local OEM (AMLO) strategy, namely ASEAN, China, India and the Middle East-North Africa (MENA)," the report said.
Proton's interest in India also stems from the fact that the country was among those "markets that have been relatively resilient from the fallout of the economic crisis."
Some of the models that Proton sells include multi-purpose vehicle Exora, small car Savvy and sedan Saga.
http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/Malaysias-Proton-in-talks-with-MM-again-to-enter-India/articleshow/6055425.cms
Malaysias Proton in talks with M&M again to enter India
The Pioneer (Web & Print Edition)
http://dailypioneer.com/263207/Mahindras-American-distributor-sues-co-over-delay-in-US-launch.html
VW TO INCREASE OUTPUT FROM CHAKAN PLANT IN THREE MONTHS
PTI
See this story in: The Economic Times (Web & Print Edition)
Wolfsburg(Germany): Aiming to capture ten per cent of the Indian car market by 2016, German auto major Volkswagen will be increasing output at its Chakan plant within three months as part of its strategy.
The firm, which currently produces compact car Polo and group company Skoda's Fabia in the plant, is planning to add a second shift of production at the facility to coincide with its plan to roll out another sedan, Vento from the facility by July. It had rolled out the 10,000th car from the Chakan plant in the beginning of this month.
"Taking the next step, as planned, we are introducing the second shift of production within the next three months," Volkswagen India Private Ltd Managing Director Joerg Mueller told PTI.
He, however, did not specify how much increase in production it would lead to.
"Within four to six years we will increase the market share from approximately two per cent last year to eight to 10 per cent," he said.
The Indian car market is the second fastest growing in the world after China, approaching the 2 million units mark annually and VW estimates it to touch about 3 million units by 2015-16.
Mueller said by the year-end VW's Chakan plant will be employing 2,500 employees at the plant, from the current about 1,200.
VW had invested Rs 3,500 crore in setting up the plant that has an annual capacity of 1.1 lakh units.
"We target to reach the full capacity of 1.1 lakh vehicles in one-and-a-half years," Mueller added.
Talking about the Vento launch, he said: "We are now being prepared to launch a sedan called Vento, which is partly based on the Polo platform and will come in a few months."
Asked about the possibility of launching a smaller car than the Polo, he said: "For us it also makes sense to be present in the market segment below the Polo wherefore we will investigate the feasibility of launching such a model."
Besides Polo, VW also sells sedans Passat and Jetta, which are assembled at group firm Skoda's Aurangabad plant, in India.
http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/VW-to-increase-output-from-Chakan-plant-in-three-months/articleshow/6054975.cms
Volkswagen targets 1.1 lakh cars by 2011-end
Deccan Herald (Web Edition)
http://www.deccanherald.com/content/75737/volkswagen-targets-11-lakh-cars.html
VW to increase output from Chakan plant in 3 months
The Hindu Business Line (Web Edition)
http://www.thehindubusinessline.com/blnus/02161720.htm
BEYOND CITY, HONDA HITS A ROUGH TERRAIN
Sindhu Bhattacharya
Daily News & Analysis (Web Edition)
New Delhi: Honda Siel Cars India (HSCI) has seen sales of many of its cars falling over the last few months. Though reasons for the decline in sales of each model vary, Honda has already begun to take corrective measures.
But for a company which has no new model lined up for launch this year, greater presence in the media and improved marketing initiatives are going to play key roles in improving overall sales performance.
Take the case of Honda City, still considered a benchmark in the entry level and mid-priced sedan segment and HSCIs flagship model.
Between January and March this year, sales of this car were robust but fell drastically thereafter.
As per Society of Indian Automobile Manufacturers (SIAM) data, City sold 4,485 units in January, 5,076 and 4,338 units February and March 2010, respectively, but sales fell to 2,787 units in April and 3,121 in May.
Jnaneswar Sen, vice-president, marketing at HSCI, says two price hikes in quick succession meant the variant mix for City changed and the company needed time to adjust supplies to this change.
We hiked prices in end February because of excise duty revision and then in April on implementation of new emission norms.
Prices were increased by Rs 18,000-20,000 but this led to a shift in consumer preference to the mid variant S instead of the top end variant V. We need three months to cater to this shift and I expected sales to normalise by July.
Honda City was clocking 3,500 units a month all through 2009. Market watchers said that sales have fallen also because the new City competes with lower priced models from competition such as the Accent and Verna, SX4 and Dzire and the Indigo Marina.
On Jazz, Sen agrees that steep pricing has been an issue. The car sold only 338 units in April and 205 in May while its competitors in the segment such as Maruti and Hyundai report sales of over 60,000 and around 25,000 units a month. Even the recently introduced Volkswagen Polo clocked 1,314 units in May while Skoda Fabia sold 547 units.
Though Honda is known for not offering discounts/freebies to push sales, lukewarm response to the Jazz meant sporadic discount schemes but Sen pointed out that this was very tactical, done in pockets and many times at the dealers behest.
He says that pricing of the Jazz is unlikely to change in a hurry because neither does Honda believe in dropping prices nor will localisation be increased substantially, at least this year.
Because of the exchange rate fluctuations, we have seen about 33% appreciation in imported parts costs for the Jazz. Localisation on this car is already 77% but this will not increase quicklyour focus on localisation is for the small car which is due only next year.
An analyst with a global consultancy firm says Jazz should target localisation level of 85% to drive down costs and hence prices. At present, most people do not even consider the Jazz when deciding on a hatchback because the car has been priced out of the market, though the car is feature rich and generally appreciated.
On the Accord and the CRV front too, Honda has seen consumer interest wavering. Though both these vehicles are highly appreciated, price hikes coupled with the continued unavailability of diesel option for both are to blame.
Sen agrees that both these segments are very diesel heavy but says the company was left with little option on the price front for CRV since it is fully imported and exchange rate fluctuations led to price increase of Rs 3.5 lakh in one shot.
For Accord, import content of 72% makes any price reduction next to impossible. Besides, competitors such as the Skoda Superb and Volkswagen Passat have recently cut prices and this has also eaten into Accords share.
So what is the way out for HSCI?
Sen says that the one thing we will not do is cut prices because that is very damaging for existing customers. However, Hondas share of voice in the media should increase over the next 2-3 months despite the fact that no new models are lined up for launch this fiscal.
http://www.dnaindia.com/money/report_beyond-city-honda-hits-a-rough-terrain_1397349
RANBIR REVS UP BOOKINGS FOR MICRA
The Hindu Business Line (Web & Print Edition)
Mumbai: The Nissan Micra, scheduled to be launched in mid-July, has received nearly 1,000 bookings since the process began on May 25.
The momentum has picked up from June 10, soon after the news of Bollywood actor Ranbir Kapoor being roped in as Nissan Motor India's brand ambassador became public. Till then the booking tally was around 400, but sources said the number could now be near 2,000 by the end of this month. Ranbir is a big draw among youngsters who enjoy seeing his films, said a source.
The Micra will be part of the B-plus segment (which includes the Suzuki Swift and the Hyundai i20) and is expected to be priced in the range of Rs 4-5.5 lakh for its four versions. The booking trend indicates that the top-end option, Micra XV, has had the maximum response followed by the XL, which is next in line. In contrast, the base XE version is someway behind, sources said.
Nearly 35 per cent of the bookings in Bangalore have been made by women, most of whom are professionals in the IT sector.
This is an interesting feedback and has been a pleasant surprise to Nissan, an official said. Delhi has emerged tops among the metros, something which was not entirely unexpected.
Customers, especially women, have been curious to know when the company is planning to bring out an automatic version, especially in the context of growing traffic and difficult driving conditions. Others have expressed interest on a diesel version of the Micra and it remains to be seen how soon the manufacturer will comply with this demand.
The retailing process will be the responsibility of Hoover Automotive India, Nissan's sales and distribution arm. Thus far, there are only 11 dealerships. But there are plans to increase this to 20 in the coming months.
To that extent, the accessibility of the Micra will be confined to select cities and towns though the retail network could expand after gauging the market response to the car.
Nissan has, of course, readied a business model that will see exports play a big role to the extent that domestic numbers will lag behind for some time.
This is also largely a result of shifting the Micra's production line from the UK to India which also brings in the added responsibility of servicing European markets.
According to sources, the company's biggest challenge would be to ensure that it can cope with its order book so that customers do not have to wait for months on end to get their car. This is critical, especially when there are other options in the compact car segment, said a source.
http://www.thehindubusinessline.com/2010/06/17/stories/2010061752660200.htm
TOYOTA AUTO SHOW IN KOLKATA
The Hindu Business Line (Web & Print Edition)
Kolkata: Toyota Q World, an auto show by Toyota, will be held here on Sunday, according to a company release. The exhibit will include an array of six vehicles earlier on display at Delhi Auto Expo.
http://www.thehindubusinessline.com/2010/06/17/stories/2010061752011900.htm
ALL-NEW SWIFT COMING SOON!
Abhishek Nigam
The Economic Times, Zigwheels
When the Suzuki Swift arrived on Indian shores in 2005, Maruti received nearly 16,000 advanced bookings even before the price or the car was revealed. With such a promising start to its innings, Maruti Suzuki already knew they had a winner on their hands. And as envisaged, five years down the line there are more than 4.5 lakh Swifts sprinting around in India. Even with the current infusion of new hatchbacks, the Swift is still holding its own and even demands a waiting period before delivery. In its five dominating years, the Swift has received a minor nip-tuck on the outside and a new K12M heart recently in the wake of the Bharat Stage IV emission norms, but come September, Suzuki is all set to unleash the all new Swift further adding to the competition's woes.
While the overall silhouette remains pretty similar to the current car, make no mistake, this is a totally different animal altogether. Suzuki of late has been sticking to its design language and the new Swift takes cues from it as well with the typical Kizashi grille and swept back headlamps. It is also larger than its predecessor with a 90mm increase in length and a significant 50mm growth in the wheelbase. Even the bodyshell now makes extensive use of higher tensile steel which makes it lighter and stiffer than before and at the same time offers refinement in underbody design as well. The latest body design has also helped to improve impact safety for pedestrians as well as occupants. The interiors receive a major makeover as well with a more dynamic feel and more room thanks to the larger dimensions.
On the engine front, the new Swift is all set to receive a 1.2 litre petrol unit incorporating Dual VVT which bumps up the power to 94 PS @ 6000 rpm and a maximum torque of 118Nm @ 4800 rpm. Both figures are significantly higher than the K12 M unit and are sure to make the new Swift an even more entertaining drive. Along with better performance, the new Swift also promises better efficiency and lower emissions which only acts as the icing on the cake. Expect a new 1.3-litre oilburner with lower emissions and better efficiency as well.
With the hatchback segment at its saturated best thanks to the recent new arrivals, the new Swift is up against a much stiffer competition now. But backed by its strong credentials we're definitely in for a battle royale.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
VENTO-SPHERICS TO SHAKE UP COMPACT SALOONS
Adil Jal Darukhanawala
The Economic Times, Zigwheels
Watch out Honda City, there is an all new rival shaping up to snap at your heels! Yes the writing on the wall says that the best selling compact saloon in the country will get a worthy rival within the next few months and this is coming from Volkswagen. The German car maker which makes the Polo saloon at its mega purpose-built facility at Chakan near Pune is gearing up to launch a notchback saloon version of its Polo hatch. It is significant that a saloon should be the follow-up model on the base Polo platform because the present generation City is in fact based on Honda's brilliant Jazz hot hatch architecture. This approach of the two manufacturers, even though appearing similar, has to be seen in the light of how their respective product planning strategies would unravel.
While Honda has made the City as its low cost saloon offering for emerging Asian markets, Volkswagen's strategy has been to target the emerging BRIC (Brazil-Russia-India-China) markets. Proof of this came just last week when Volkswagen took the wraps of the Polo saloon in Moscow, Russia being the first country to get this car, which in India will sport the Vento model name. The Russian market is huge, with the potential of a similar order to India but what is also important is that the terrain and the infrastructure there is also similar to that in India, in fact some of it is pretty extreme in its intensity and when factored with the climatic conditions, the situation is pretty tough all around.
Keeping this sort of an operating condition in mind, the new Polo saloon, nee Vento has been configured to provide a robust build while having enough on the flair quotient to come across as a stylishly contemporary automobile. And what is of even more significance is that the car has been priced exceedingly competitively, the wellequipped standard base version starting from just a shade over Euros 10,000! If this thought process is replicated here in India as well, the Polo-Vento duo could have many on the run and help Volkswagen to stamp its mark on the people's segments in ample measure.
Turning to the product per se, the Vento carries the traditional understated looks of the Polo but the way the VW designers have crafted the notchback portion makes for a car with very pleasing proportions and also visually very appealing. The curvy roofline is elegantly drawn that not only makes the car look stylish but also gives it a very confident poise overall. The Polo in its sedan guise as Vento tends further towards sophistication and luxury than the sporty and aggressive lines of the hatch design. The creases running alongside the car are very modern and the six-spoke alloy wheels further compliment its looks.
There is no doubt that the Vento will offer worldclass level of build quality and handling dynamics that the Volkswagen brand is known for globally and it will be very interesting to see how much the Polo sedan dents Honda City sales. Especially given the fact that Honda yet doesnt have a diesel engine option.Volkswagen will offer the Vento with diesel as well as petrol engines from day one, both of these displacing 1.6-litres. Although the German car-maker has announced plans to introduce the petrol variant of the Vento with an automatic transmission for the Indian market, there is a fair chance that the diesel Vento too will get an auto 'box in the near future.
The Vento has been designed and tuned keeping in mind the demands of the Indian buyer in the premium entry level sedan market. The suspension has been beefed up to offer a comfortable ride quality on the Indian roads without compromising on handling. Also expect the wheelbase to be enhanced so as to offer more cabin space, something which dogs the Polo against its rivals. The Vento though, will come loaded with all the bells and whistles seen on modern-day sedans including Anti-lock Braking Systems (ABS) and airbags.
After infiltrating most of the luxury segments in the country including the premium SUV market with the Toureg and the recently launched Phaeton in the luxury sedan space, Volkswagen is now prepared to battle in the entry level luxury sedan bracket with the Vento.
While this illustrates the firms top-down approach to market share, the fact that it has to do something strong and very pronounced to deter a solidly entrenched player like the Honda City would mark its efforts to punch its way up the sales charts. Therein lies the prospect of an interesting battle in the showrooms. Stay tuned.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
REIGNING IN THE GODS OF TORQUE
Abhishek Nigam
The Economic Times, Zigwheels
Launched in 2006, Audi's first ever SUV has been quite a hit with the buyers, especially in India where it has almost become the official Bollywood vehicle. Audi recently granted a midlife makeover to the Q7 which we featured in August last year. The Q7 as a diesel till now was only available in the 3.0 TDI Quattro variant with 240 PS and a massive 550 Nm of torque. However with new entrants like the Toyota Land Cruiser V8 and the recently launched GL class from Mercedes, it was about time for Audi to counter attack. So to accompany the 3.0 TDI we now have the 4.2 TDI Quattro with which Audi hopes to take the benchmark in premium SUV segment even further.
Rule of the might is just what Audi's designers believed in when they developed this behemoth. Being a little over 16 feet in length and as tall as a tree, the Audi is simply gigantic. While the Q7 was never a beautiful looking car, it more than made up for it with its presence and size. The 2010 version has received a host of updates which add a lot of elegant touches to it. At the front end, the large singleframe radiator grille has been redesigned. Then there are the new headlamps that incorporate Audi's nowsignature LED running lights which makes it pretty pleasing to the eye. While the side profile remains pretty much the same apart from the new six-spoke alloys, the rear bumper now receives a two-tone paintwork. All said and done, the Q7 is still as impressive as ever.
Space was never an issue with the Q7. And thanks to its massive wheelbase and interior flexibility there is always room to spare. The trim has also been updated with more wood, and the 2010 model also gets the third generation MMI navigation/entertainment/ information system. Interior lights in the door linings and an inlay on the passenger side enhance the interior styling. The selection of interior colors and materials is also new.
What also deserves a special mention on the insides is the soul stirring audio system. The Bang & Olufsen sound system sends more than 1000 watts through 14 strategically placed speakers, each of which is powered by its own amp, yes that makes it all of 14 amplifiers in the car. Also like in the A8, the Q7 accommodates a pair of nifty pop-up tweeters near the base of the Apillars that, through their 180-degree acoustic lenses, make true stereo sound for passengers regardless of seating position.
As I mentioned before, the Q7 3.0 TDI was already a pretty potent machine. With 240 horses and a stump pulling 550 Nm of torque meant that it could put to shame more than a couple of sportscars. But now with the 4.2 TDI, it's literally transformed from Mr. Jekyll into Mr. Hyde. The 4.2 TDI puts out 340 PS @ 4000 rpm and an unbelievable, eye watering, earth rotating 760 Nm of torque between 1750-3000 rpm making it the most powerful diesel SUV in India. Apart from being the most powerful, Audi has also made sure that the engine is an efficient one. The new generation V8 features a very effective high-tech component from Audi's modular efficiency platform, the energy recovering system. What it basically does is during braking, it converts excess kinetic energy into electrical energy and buffer-stores it into the battery. During the next acceleration phase, the required electric energy is drawn from the battery instead of the alternator. Simply Brilliant!
Driving around normally, one can barely feel all that firepower beneath the hood, but the moment you step on the gas, there is a moment of calm before storm as the massive turbo spools up and the 6-speed tiptronic gearbox gets into attack mode. And within absolutely no time, you are buried deep into the seats with the Q7 sitting squat on its haunches and the nose almost pointing skywards. Such is the intensity of the acceleration, that for a moment you think that the Q7 would do well with a nice set of wheeliebars at the back. Dial in the revs, mash the throttle and the Q7 accelerates like its been shot out of a cannon. Before you know it the speedo has already swung past 100 km/h and it takes exactly 7.2 seconds to get there. The vicious acceleration doesn't stop there and it was only close to the 220 km/h mark that you feel a slight let up. While we ran out of road at 231 km/h we have absolutely no doubt about Audi's claims of a 240 km/h top whack. For a 2450 kg behemoth these figures simply defy logic.
The adaptive air suspension gives you the option to choose from three different modes namely, Comfort, Automatic and Dynamic. While Dynamic mode stiffens things up to the max, the Q7 isn't exceptionally comfortable even in comfort mode. Thanks to the 55 profile 18 inch tyres you can feel most of the undulations on the road giving it quite a busy feel all throughout.
Both the 3.0 and the 4.2 TDI share the same equipment levels and even look the same barring that displacement badge at the rear and the alloys. So why would one shell out excess moolah for 4.2 TDI? Here's the catch. As an introductory offer, Audi is offering the 4.2 TDI at Rs. 58,68,000. Yes you read right, that's just a little over Rs. 4 lakh more expensive than its lesser endowed counterpart, which makes it an absolute no brainer if you are looking at picking up a diesel Q7. Post the introductory offer, the price is likely to be around Rs. 66 lakh which will make it significantly more expensive. Even if you happen to miss this irresistible offer, the choice is simple. If you're a Bollywood star or the hot suited business tycoon who prefers to be driven for the better part of the journey, then look no further. The 3.0 TDI offers more than what you could ask for. But if you're the one who likes to drive, that's when the 4.2 TDI starts to make sense. With the kind of firepower it possesses, it's likely to shame most sportscars in your neighborhood and carry seven people in reasonable comfort while at it. Then there is the practical aspect. It's a diesel and returns 10.10 kmpl (company claimed) which is simply amazing for a 4.2 litre V8. Great looks, presence, space, pace, technology and practicality, the Audi has it all.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
AUDI RECLAIMS LOST PRIDE AT LE MANS
Priyadarshan Bawikar
The Economic Times, Zigwheels
After a crushing defeat at the hands of Peugeot in 2009 which broke Audi's 5-year winning streak at the prestigious 24 Hours of Le Mans race, this year's event was all set for an epic battle between the French and the German manufacturers. The Audi R15, which debuted in last year as the successor to the legendary R10, barely managed to get to the last spot on the podium in the midst of Peugeot's domination of that 2009 race. But proving the old adage, "If you want to finish first, you must first finish", this year's Le Mans podium belonged to Audi in its entirety.
That being said, the start of the race on Saturday afternoon presented a rather different picture. All four of the Peugeots put out strong performances in qualifying and started out the race in the lead. But the grueling race claimed the first of the Peugeots before night fell on Saturday when it picked up damage to the tub following problems with the suspension. The number 2 car led throughout the night but was knocked out in a fiery way by morning while in the lead being driven by Franck Montagny. The number 1 and number 4 cars had been delayed earlier in the race due to mechanical troubles, but suffered engine failures in the final two hours of the arduous 24 hour race.
Peugeot's bad luck practically handed Audi the victory on a silver platter. Of course it was the R15 Plus' extremely high reliability that got the Germans past the chequered flag to claim top honours. The trio of Timo Bernhard, Mike Rockenfeller and Romain Dumas took the race win with a record distance that exceeded all the previous distance record of the current Circuit de la Sarthe, while Benoit Treluyer Andre Lotterer and Marcel Fassler suffered a few delays in the pit and took second place a lap down. Audi's dream team of Allan McNish, Tom Kristensen and Dindo Capello unfortunately came together with the BMW GT2 Art Car on Saturday evening, but luckily escaped any major damage, only to claim the third spot on the podium two laps down.
But the real surprise was AIM Oreca team which finished in fourth place with the Oreca 01 taking the top honours in the petrol category. Aston Martin's second B09/60 LMP-1, which incidentally carried the James Bond inspired 007 racing number, managed to take an overall sixth place, just behind Strakka Racing's Acura HPD ARX-01C which took the top honours in the LMP-2 class. Porsche had a good day too, with the 997 GT3-RSR pipping the GT2 class and finishing eleventh overall, some seven laps and two overall positions ahead of highest placed GT1 car - a Saleen S7R.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
COMMERCIAL VEHICLES
MAHINDRA SUED BY US DISTRIBUTOR OVER TRUCK DEAL
IANS
See this story in: The Economic Times (Web & Print Edition)
Washington: An Atlanta company that has exclusive rights to sell India-made Mahindra pickup trucks in the US has sued the Indian automaker in federal court over delays in delivering the vehicles, according to media reports.
Global Vehicles USA. Inc. claims Mahindra & Mahindra Ltd.'s haggling with emission and safety testing contractors has delayed the government certification the company needs to sell the compact diesel trucks in the US, according to a report by GlobalAtlanta.com, a business news publication in Atlanta.
Global Vehicles has spent close to $35 million so far to prepare for the launch of Mahindra vehicles in the US and has signed up 350 dealers nationwide, according to the lawsuit filed June 14 in US District Court in Atlanta.
US dealers have spent more than $60 million in franchise fees for the right to sell Mahindra vehicles, the suit adds.
Mahindra had repeatedly pushed back the projected delivery date for the pickups, according to the suit.
Anticipating a delivery in early 2009, Global Vehicles was negotiating financing for an initial order, but the lenders backed out when Mahindra once again delayed shipment, the suit alleges.
Global Vehicles, at Mahindra's suggestion, then began searching for a financial partner. But in July 2009, Mahindra said it was putting its plans for the US market on hold because Global Vehicles lacked adequate financing, according to the suit.
Global Vehicles claims it did have financing but that Mahindra has rejected its orders, imposing "onerous" new financial demands that were not covered in the original agreement.
Meanwhile, Mahindra delayed completing emissions and safety testing that would lead to US government approval to sell its vehicles here, the suit states. While this normally takes only three years, Mahindra slowed the process by engaging in lengthy negotiations with the contractors who perform the testing, it said. Global Vehicles and Mahindra are currently in arbitration over the dispute, the suit adds.
Global Vehicles is asking the US court to require Mahindra to comply with the distributor agreement. It also seeks an injunction preventing the automaker from selling in the US through another distributor or communicating with any of the dealers in the Global Vehicles network while the two companies are in arbitration.
Global Vehicles announced in 2007 that it would introduce the pickups as early as spring 2009. The trucks are slated to be made in India and shipped in finished form to the US despite a 25 percent tariff imposed on light truck imports to the US.
http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/Mahindra-sued-by-US-distributor-over-truck-deal/articleshow/6055270.cms
M&M sued by American distributor in US
The Hindu Business Line (Web & Print Edition)
http://www.thehindubusinessline.com/blnus/02161301.htm
Mahindras American distributor sues co over delay in US launch
The Pioneer (Web & Print Edition)
http://dailypioneer.com/263207/Mahindras-American-distributor-sues-co-over-delay-in-US-launch.html
US distributor sues M&M for delay in launch
The Times of India (Web & Print Edition)
http://timesofindia.indiatimes.com/biz/india-business/US-distributor-sues-MM-for-delay-in-launch/articleshow/6054272.cms
US distributor sues M&M over delay
Hindustan Times (Web & Print Edition)
http://www.hindustantimes.com/business-news/auto/US-distributor-sues-M-amp-M-over-delay/Article1-558645.aspx
US distributor sues M&M
The Tribune (Web Edition)
http://www.tribuneindia.com/2010/20100617/biz.htm#1
Mahindra sued by US distributor
Deccan Chronicle (Web Edition)
http://www.deccanchronicle.com/business/mahindra-sued-us-distributor-441
Mahindra sued by Global Vehicles
Deccan Herald (Web Edition)
http://www.deccanherald.com/content/75672/mahindra-sued-global-vehicles.html
US legal heat on Mahindras
The Telegraph (Web Edition)
http://www.telegraphindia.com/1100617/jsp/business/story_12574593.jsp
M&M sued by US agent
The Statesman (Web Edition)
http://www.thestatesman.net/index.php?option=com_content&view=article&id=331382&catid=40
Mahindra sued by American distributor
Rediff India (Web Edition)
http://business.rediff.com/report/2010/jun/16/auto-mahindra-sued-by-american-distributor.htm
US distributor sues M&M over delay in truck launch
The Financial Express (Web & Print Edition)
http://www.financialexpress.com/news/us-distributor-sues-m&m-over-delay-in-truck-launch/634774/
Global Vehicles sues Mahindra for delay in US launch
mint (Web & Print Edition)
http://www.livemint.com/2010/06/16150722/Global-Vehicles-sues-Mahindra.html
M&M sued by US partner for delaying truck launch
Business Standard (Web & Print Edition)
http://www.business-standard.com/india/news/mm-sued-by-us-partner-for-delaying-truck-launch/398524/
US company sues M&M for contract breach
mint (Delhi Print Edition)
SUIT MAY HIT M&M'S PICK-UP FORAY IN US
The Times of India (Web & Print Edition)
New Delhi: Ahead of its ambitious foray into the US pick-up market, Mahindra & Mahindra (M&M) finds itself in a legal mess as its distributor for pick-up trucks, Global Vehicles, has sued the company for the delay in launch.
Global Vehicles filed a lawsuit before an Atlanta District Court, complaining of the inordinate delay in the launch, while it had made investments for all the distribution infrastructure. Mahindra's pick-up launch in the US has been delayed by almost a year and the company has said it would be launching the vehicles only by the end of this year.
In its lawsuit filed on June 14, Global Vehicles said that it has spent close to $35 million in preparation for the launch and signed as many as 360 dealers nationwide. This also includes an initial distribution appointment fee of $8.5 million. The company further claimed that US dealers have spent more than $60 million in franchisee fees for the right to sell M&M's vehicles. It also initiated arbitration proceedings against Mahindra.
When contacted, Mahindra said it would contest the claims. "We have learnt that Global Vehicles has filed a lawsuit in the US, while also initiating separate arbitration proceedings. Mahindra firmly believes these legal actions to be without merit and will vigorously contest these actions," the company said.
Refusing to comment further on the matter, the company said it remains committed to the launch by the end of the year. The lawsuit by Global Vehicles urged the court to prevent Mahindra from selling its vehicles through any other dealer or distributor. When asked, Mahindra officials refused to comment whether they would be working out a separate distribution strategy as relations with Global Vehicles sour.
M&M and Global Vehicles had entered into an agreement on September 28, 2006, according to which the latter became the sole distributor of the Indian company's motor vehicles in the US.
Pawan Goenka, the president of Mahindra's Automotive arm, had said in May that the company would launch its compact diesel pick-up truck in the US by the year-end. He had said that there was a delay in the launch due to changes required to conform the vehicle with US regulations, following extensive road tests in America.
"We wanted to give the best product to the American consumer and thereby wanted to be absolutely sure on parameters before its launch," Goenka had said about the vehicle being built on the platform of its flagship Scorpio SUV.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
http://timesofindia.indiatimes.com/biz/india-business/Suit-may-hit-MMs-pick-up-foray-in-US/articleshow/6056637.cms
VOLVO EICHER SCALES UP!
Vikram Gour
The Economic Times, Zigwheels
In what can be termed as the biggest announcement from the CV industry in recent times, Volvo Eicher Commercial Vehicles Limited (VECV), the joint venture between the Volvo Group and Eicher Motors, is set to become the global manufacturing hub for Volvo's medium duty engines in Euro 3,4,5 and 6 configurations globally.
VECV has announced an investment of Rs. 2,880 million at its Pithampur facility, wherein the company will build a completely new facility to manufacture these engines. The initial capacity planned for this new facility is 85,000 units (engine bases). The new facility will commence production by the second half of 2012 and engines will be shipped out by late 2012. Apart from this, the Eicher truck range in India will also benefit from these engines, as the company intends on utilizing these new engines in their truck range from 2013 onwards. Par Ostberg, President, Trucks Asia, Volvo Group and Chairman, VE Commercial Vehicles adds that this investment by VECV gives the Volvo Group a complete facility in India for manufacturing and assembling the new medium-duty engine which will be introduced in the Volvo Group's trucks and buses worldwide over the next few years.
Going back to the 85,000 engine bases, VECV will do the final assembly of 55,000 units which will be of Euro 3 and Euro 4 configurations. The remaining 30,000 engine bases will be shipped to Volvo's powertrain plant in Venissieux, France where these base engines will be assembled for the Volvo group's Euro 5 and Euro 6 requirements; starting 2013. The medium size engines will be manufactured in both 5 and 8 liter capacities in India, and power output will range from 215 to 350 bhp. Incidentally, these new engines are from the Volvo group's PSS engine family that is set to power a whole range of medium duty engine applications, such as commercial vehicles, construction equipment and even naval applications.
According to Leif Hohansson, CEO, Volvo Group, the medium duty engine that will be manufactured in India is the combination of the latest Japanese technology (thanks to Volvo's UD Truck initiative in Japan) with India's competitive production costs. The potential of such an engine in Asian markets is immense and as the market grows, it is necessary to remain close to such an important market for the Volvo Group. Though the application of the engines will also be used in other markets, it is the Asian market that is of high importance at the moment.
Elaborating on this, Peter Karlsten, President, Volvo Powertrain, adds, "A global manufacturing hub at VECV's Pithampur plant is an excellent example of how the Volvo group can leverage its global presence to reduce costs for engine manufacture while making maximum use of its industrial strength. VECV already has a robust supply chain network and with this new development, VECV becomes integrated with the Volvo Group's global supply chain."
Apart from the obvious outcome of VECV becoming one of the largest medium duty engine manufacturers in the country thanks to this new development, the actual takeaway is in terms of technological prowess. VECV is investing in state of the art equipment in order to produce these engine bases, and this will work exponentially in the Indian context, for VECV will already have the know how on Euro 6 technology years in advance, for by the time the Indian norms require Euro 6 standards on commercial vehicles, VECV should have already produced thousands of such engines by then.
Siddhartha Lal, MD & CEO, VE Commercial Vehicles, said it best, "This is possibly the largest such project in India and certainly the most technologically advanced - as we will be producing base engines capable of Euro 6 emission norms. This will catapult VECV into one of the largest commercial vehicle engine manufacturers in India and will give us capability well beyond any of our competitors."
It's a win-win situation for both VECV and the Volvo Group, for this latest development helps achieve more than just low cost manufacturing, it also brings in the latest engine technology as well as offers the Volvo Group to produce engines close to markets where the application of such engines will be highest.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
MAHINDRA NAVISTAR TRUCKS GEARED UP TO ROLL OUT
Vikram Gour
The Economic Times, Zigwheels
The production of the MN25 comes five years after Mahindra and Mahindra signed the JV with International Truck and Engine Corporation - the operating company of Navistar. The JV was drawn up in order to manufacture light, medium and heavy commercial vehicles for the Indian and global market. Inclusive in the JV was the plan to set up a greenfield production facility in Chakan, Pune, wherein the company has invested Rs 4000 Crores on a 700 acre facility. The company intends on offering commercial vehicles ranging from 3.5 tonne GVW to 49 tonne GVW, and as stated the first product to come off this new line is the MN 25, which is a truck suitably designed for Indian applications.
The MN25 is touted to be one of the most powerful, fuel-efficient, rugged and comfortable 25-tonners to be launched in India. Designed and developed in India with technological assistance of Navistar, the MN25 comes with a neatly appointed cabin which is spacious and ergonomically designed to suit Indian drivers for continuous long hauls. It's powered by the world-renowned MAXXFORCE engine which is highly fuel efficient and powerful which is a boon in reducing turn around time. The MN 25 is priced at Rs 14.99 lakh (exshowroom Pune), and is a product benchmark for the company. With this truck, MNAL will enter the HCV segment and the company is bullish on the prospects, as shared by Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra & Mahindra, "This is a moment of great pride for us as the very first new product rolls out of our Chakan plant. The Chakan plant is one of the most modern plants in India and is said to create new benchmarks in automotive excellence. This plant will also help drive tremendous synergies for Mahindra Navistar with the upcoming vendor park, the common utilities and reduction in capex. We will soon be launching the rest of our HCV range from here as well."
The MN 25 marks the first step for the Company towards becoming a full fledged commercial vehicle player. The idea is to have a range of products that offer a great value for money proposition to truckers across the country, which will help in market penetration as well as building the brand. MNAL has already been working hard at setting up its dealer and service network across the country, which includes using Mahindra and Mahindra's existing dealerships for tractors and LCVs. The company has also set up a 24x7 multilingual call center to assist with on-road support to customers. As everything falls into place, MNAL is expecting to commence sales within the next 2 to 3 months.
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
CONSTRUCTION & AGRI MACHINERY
- - - - - -
TWO & THREE WHEELERS
HERO EXPLORING OPTIONS TO EXTEND JV WITH HONDA
Shreen Bhan
mint
New Delhi: Hero Corporate Services Ltd(HCSL) chairman Sunil Kant Munjal speaks about the Munjal family settlement and the joint venture between the Hero Group and Honda Motor Co. in an interview. Edited excerpts: How did the family manage to reach such an amicable settlement?
I would say there are two- three things. One, the elders or the seniors in the family have actually played a very good, very proactive role in this...
The culture in the family has been that you either follow or do what the elders are telling you and sometimes even if you don't like it you say, `we will do it'. It has actually worked very well.
Was there always agreement on the fact that there should be no crossholding?
Yes, there was always agreement that we should do this re- arrangement. Don't forget we are now three generations actively working together, which is rare by itself and many of the third generation also have kids. These generations are brought up differently, every generation is brought up differently, and they have different exposures. We do not even know how they will work, be- have in the future. As future generations come you would like to see this legacy continue, actually beyond these generations. So this seemed like a sensible way to do it, to say, `Okay let's clear up the cross holdings, allow families to take their own decisions as they move forward, as far as the business is concerned. But at the same time keep that bond across each other as a family'.
There has been a lot of talk on wanting to get into the twowheeler business for instance. Would some of your cousins or family members be looking at that area?
It could happen. I don't know for sure what will hap- pen in the future...what each one chooses to do in the future is obviously his own choice.
What are going to be the future growth opportunities for your group (BM Munjal Group)?
One, clearly is the potential and possibility to grow the two-wheeler business. We believe Hero Honda has potential and possibilities in the future.
While it's a very competitive environment and getting more so, the markets are also growing. So there are clear opportunities there.
Have you at this point of time considered the possibility of buying out Honda as far as the joint venture is concerned?
...as we come to 2014 (when the arrangement with Honda ends) I guess time will tell what the possibilities are. All possibilities are open, the arrangement may get extended...
Whatever happens it has to be a win-win for all concerned because don't forget these are not companies owned only by Honda and by us. There are millions of shareholders in these companies.
HONDA SET TO DAZZLE YOUTH!
Varad More
The Economic Times, Zigwheels
It has taken Honda a painfully long time to come up with a performance-oriented motorcycle for India. Its super-popular and ultra-refined Unicorn has lost some lustre due to its dated and boring looks in today's times of the FZ16, the RTRs and of course the mighty kings of the performance hill, the Pulsars. The 150cc segment has witnessed enormous growth in the past year and a half and Honda surely did not want Bajaj or Yamaha to reap all the benefits of this rapidly emerging segment. So the Japanese giant is back with the new CB Unicorn Dazzler that was first displayed at the 2010 Auto Expo.
First look and many will dismiss the Dazzler as just another Unicorn with a jazzier name and clothes borrowed from the CB Twister. Although this is not entirely false, there is more to the Dazzler than what meets the eye.
The 149.1cc motor borrowed from the Unicorn has been completely retuned and reconfigured for sportier feeling and freer power delivery. To create a higher revving engine for sporty performance and spirited riding, Honda engineers have incorporated a high-lift cam shaft, which permits the valves to remain open for a longer duration allowing additonal air-fuel mixture to enter the combustion chamber per engine cycle.
The CB Unicorn Dazzler makes 14PS of power at 8,500rpm and 12.7Nm of torque at 6,500rpm. On the CB Unicorn the same amount of torque is produced at 5,500rpm and the power is available right from low revs. Keeping in mind the psyche of sportriders looking for jollies, Honda has altered the mapping to suit the new valve-timing and it requires the rider to keep the bike revving above 6,000rpm to have real fun.
Handling wise too there are noticeable changes in the CB Unicorn Dazzler. It sports a shorter wheelbase, a wider 110/80/R17 rear tyre and an extremely welltuned twin-spring mono suspension at the rear. The bike also boasts of a 220mm rear disc brake. The handling is definitely more sprightly and it changes direction quicker than one would anticipate. Stylish floating panels, tubeless tyres and a funky digital console means that this Honda is going head-on against the likes of the Pulsars and FZ16s. But who's complaining? Watch out for the complete road test...
Copyright 2010, Bennett, Coleman & Co. Ltd. All Rights Reserved"
AUTO COMPONENTS
HYUNDAI AUTO PARTS ARM PLANS RS 1,200-CRORE PLANT IN AP
The Financial Express
Hyderabad: South Korean major Hyundai Wia, the car component subsidiary of Hyundai Motor Company, is planning to set up up an auto component manufacturing facility at Nellore in Andhra Pradesh at an initial investment of Rs 1,200 crore. The plant is expected to come up in two phases, and is expected to be operational by April 2011.
Highly-placed sources in the government said the company has sought 50 acres. Nellore is not far from Hyundais Chennai plant, and can easily service it.
Hyundai Wia produces auto parts, other machines, airplane parts and various advanced products of satellite imagery as well. The subsidiary was set up in 1976 and has over 2,100 employees.
The company has approached the state government for about 50 acres at Nellore district to set up an auto component manufacturing facility, top officials told FE. The company is yet to sign an agreement.
Sources said that the government has given in-principle nod to the plant and has asked the Andhra Pradesh Infrastructure Investment Corporation officials to allot the land. A Hyundai team has done a preliminary study of the proposed land.
This would be the second important investment from a Korean player after Hyundai Motor Company opened a R&D centre in Hyderabad which is its fourth overseas R&D facility. It was set up with an investment of $25 million.
Car manufacturers are increasingly looking to set up their own auto part units to cut down production costs. Toyota Kirlsokar Motor (TKM) has allotted land at its facility in Bangalore to third party component makers to support its small car launch.
http://www.financialexpress.com/news/hyundai-auto-parts-arm-plans-rs-1-200crore-plant-in-ap/634770/
ALLIED INDUSTRIES
TYRE MAKERS INVEST BIG TO BUILD CAPACITIES
Rachit Vats & Sumant Banerji
Hindustan Times
Mumbai/New Delhi: Expecting a faster shift to radial tyres as auto sales boom in improved road infrastructure, tyre makers are building capacities to meet future demand from the commercial vehicle sector.
According to industry estimates, 'radialisation' in commercial vehicles is around 14 per cent. It was under 1 per cent in 2005 and is projected to touch 25 per cent by 2013.
Tyre makers such as Michelin, Apollo, Ceat, Bridgestone and others are building capacities or setting up facilities and have lined up a total investment of around Rs 12,000 crore.
French tyre maker Michelin's India plan is gathering steam and the company has already lined up an investment of Rs 4,000 crore over the next seven years to open a manufacturing facility in the country by 2012-end. It has acquired 250 acres of land in Tamil Nadu for the same.
Earlier, in 2005, Michelin had planned to set up facility in Bangalore, but abondoned plans after the company felt that demand for radial tyres was yet to pick up in India. However, the company belives that the timing is just right now.
"Local truck and bus makers are moving at a very fast pace towards radialisation. There is tremendous potential in this segment," said Michel Rollier, managing general partner, Michelin. At present, the company imports tyres but will roll out products for every pocket once the facility is ready.
Bridgestone has invested around Rs 2,600 crore in its second plant in Pune. Apollo, too, has lined up investments worth Rs 2,300 crore till April 2012 for the Chennai Greenfield. The plant has already begun commercial production and will cater to both truck-bus radial and passenger radial markets.
"While passenger vehicle tyres are almost 100 per cent radials; the radialisation in commercial vehicles has seen the highest growth across all segments. There is a greater desire among transporters to achieve fuel savings by switching to radial truck tyres. We will cater to the fresh demand with our new capacity," Satish Sharma, chief, India operations, Apollo Tyres.
According to a projection by the Automotive Tyre Manufacturers Association, radial tyres will see a nearly 50 per cent jump in demand in 2011-12 at 62.5 lakh units per annum from the current 26.2 lakh units.
http://www.hindustantimes.com/News-Feed/business/Tyre-makers-invest-big-to-build-capacities/Article1-558724.aspx
APOLLO TYRES RUNS INTO A ROADBLOCK
Vatsala Kamat
mint
Tyre manufacturer Apollo Tyres Ltd is benefiting from increased demand, but also faces some challenges. Its shares have fallen by around 5% to Rs65 each in the last three trading sessions, since news broke of a lock-out declared in its Kerala unit.
This is one of the firm's oldest facilities, and accounts for nearly one-fourth of the group's consolidated operations (including overseas firms). Evidently, the lock-out will have a considerable impact on both revenue and profit, at least in the near term. There have been problems at the unit for some time.
Workers had resorted to a go- slow earlier in the year, which hit Apollo's March quarter performance, with domestic volumes falling by 6% sequentially to 82,000 tonnes. The management, in a conference call with analysts last month, had indicated that the Kerala facility operated at barely one- fifth of its capacity of around 280 tonnes per day (tpd) for nearly half of the three months ended June. The company's total capacity is 850 tpd.
The important question is if Apollo can offset this at its new Chennai facility, which has a capacity of 500 tpd and where it has been ramping up production. But this would take time. The average production in this fiscal in the Chennai facility is expected to be 100 tpd; production at this plant is expected to reach levels of 200 tpd only by the end of this year. Besides, the Chennai plant capacity is a mix of passenger car tyres and bus and truck radials. The Kerala unit made only truck tyres, which have a higher realization compared with car tyres.
Analysts estimate that domestic sales may drop by around 5%, considering that it would be a while before the Chennai unit can increase production to make good the loss at Kerala.
Apollo has suffered setbacks in one of its overseas plants too. Strike at South African ports paralysed its operations, as raw material imports were hit. This affected production in the March quarter and is likely to affect performance in the June quarter too.
Meanwhile, its year-old Russian acquisi- tion Vredestein Banden BV has posted better- than-expected results for the March quarter, giving the company some respite. An ex- tended winter increased demand for its special tyres.
Apollo's problems have surfaced when the entire tyre industry is battling against the unabated surge in prices of rubber. In the last nine months, prices have nearly doubled to Rs165 per kg. Operating margin has been cushioned to some extent by the rise in tyre prices.
Apollo has effected more price increases in the after- sales market--by around 3.5% each in April and June. Dealers hint at another price hike soon. While demand is robust, production constraints and high rubber prices will keep a check on revenue and profit growth for the firm. Analysts estimate an operating profit margin of around 13% this year, lower by around 2.5 percentage points compared with the previous year.
FINANCE & INSURANCE
- - - - -
OILS, LUBES & ALTERNATIVE FUELS
EGOM ON FUEL PRICES LIKELY TO MEET NEXT WEEK
PTI
See this story in: The Hindu Business Line, The Pioneer
New Delhi: An Empowered Group of Ministers (EGoM) is likely to meet next week to consider raising petrol and diesel prices by Rs 2-4 per litre and domestic LPG rates by up to Rs 25 per cylinder.
I was trying for the EGoM meeting on Thursday (June 17) after the usual meeting of the Cabinet. But the meeting could not be fixed for tomorrow because of prior commitments (on part of certain ministers in the group), the Petroleum Minister, Mr Murli D eora said on Wednesday. The ministerial panel is now likely to meet next week, possibly on June 24 or 25.
We are trying for a meeting next week, he said refusing to discuss possible outcome or agenda before the EGoM.
Sources said the EGoM may consider freeing petrol price from government control and possibly giving limited autonomy to state oil firms to price diesel closer to market rates. In case of diesel, the proposal is to give oil firms freedom to price the auto fuel only till such time that international crude oil rates stay below $90 per barrel. If accepted, diesel rates will rise by Rs 3.80 per litre immediately.
Sources said domestic retail prices are benchmarked at close to $60 per barrel crude oil price while the global rates currently are over $74 a barrel. If the crude climbs to $90 per barrel, diesel price in Delhi would have risen by over Rs 7 per litre over the current selling price of Rs 38.10 a litre.
Also on the cards is a Rs 25 per cylinder hike in domestic cooking gas (LPG) rates in an effort to align retail prices closer to their cost.
The EGoM headed by Finance Minister Pranab Mukherjee could not reach a decision at its first meeting on June 7 as key members like Railway Minister Mamata Banerjee and Agriculture Minister Sharad Pawar were absent.
http://www.thehindubusinessline.com/blnus/14161301.htm
http://dailypioneer.com/263196/EGoM-on-fuel-prices-next-week.html
CNG PRICES HIKED BY RS 5.60 PER KG TO RS 27.50 IN DELHI
PTI
See this story in: The Economic Times
New Delhi: Indraprastha Gas Ltd (IGL) hiked Compressed Natural Gas (CNG) prices here by over 25 per cent, following the government's move to more than double the price of natural gas.
CNG rates in Delhi will go up by Rs 5.60 per kg - from Rs 21.90 to Rs 27.50 per kg, IGL said in a statement here.
"The new consumer price of Rs 27.50 per kg in Delhi and Rs 30.60 per kg in Noida, Greater Noida and Ghaziabad would be effective from midight tonight," it said.
The hike was necessitated because of the government's decision to raise natural gas prices from Rs 3.2 per cubic meter to Rs 7.5 per cubic meter ($4.2 per million British thermal unit).
IGL, however, did not increase the price of gas that it pipes to households for cooking purpose. Piped natural gas will continue to be priced at Rs 15.92 per cubic meter.
Sources said a rate hike would have resulted in piped gas losing its cost competitiveness over rival domestic LPG. IGL may decide to raise piped gas price by close to a rupee if the government were to raise LPG prices.
"We are constrained to increase the retail selling price of CNG in Delhi, Noida, Greater Noida and Ghaziabad due to the increase in the input price of gas procured by IGL along with its corresponding taxes and duties," IGL Director (Commercial) Manmohan Singh said.
Even after today's price hike, CNG would still offer 59 per cent savings in terms of running cost compared to petrol driven vehicles at the current level of prices in Delhi. When compared to diesel driven vehicles, the economics in favour of CNG at revised price would be 28 per cent.
Singh said the increase in CNG prices will marginally impact the per kilometer running cost for the vehicles.
"For autos, the increase would be just 16 paisa per km, for car/taxi it would be 27 paisa per km and in case of buses, the increase would be Rs 1.60 per km, which translates to less than 3 paisa per passenger-km," he said.
Prior to the price hike, CNG gave 40-41 per cent better fuel efficiency than diesel and 67 per cent saving over petrol in terms of cost.
Even after the hike, CNG in Delhi will be the cheapest fuel in the country.
IGL in Delhi and MGL in Mumbai are the only city gas companies in the country that buy government-controlled gas, called APM gas, the price of which were raised last month.
http://economictimes.indiatimes.com/news/news-by-industry/energy/oil--gas/CNG-prices-hiked-by-Rs-560-per-kg-to-Rs-2750-in-Delhi/articleshow/6055210.cms
25% hike in CNG prices in Delhi
The Hindu Business Line
OIL PRICES UP AT $77
Agencies
See this story in: The Hindu Business Line
Mumbai: Oil prices jumped in the Asian trade on Wednesday led by investors bullish outlook on the global economy. New Yorks main contract light sweet crude for July delivery was up 16 cents at $77.10 a barrel. Brent North Sea crude for August delivery rose 35 cents to $77.45.
http://www.thehindubusinessline.com/blnus/08161001.htm
INTERNATIONAL
SUZUKI TO MAKE MORE CARS IN INDIAN THAN IN JAPAN
AFP
See this story in: The Hindu Business Line
Tokyo: Suzuki Motor plans to boost its production capacity for passenger cars in India to 1.45 million vehicles a year in 2012, topping its output in Japan for the first time, a report said Wednesday.
Suzuki's local unit, Maruti Suzuki India Ltd., will invest 2 - 4 billion yen (21 - 43 million dollars) this year to upgrade its two existing factories, increasing its capacity to 1.2 million units from about 1 million at present, the business daily Nikkei reported, citing company president Shinzo Nakanishi.
The move is aimed at maintaining Indian market share of about 50 percent amid growing demand and intensifying competition, it said.
"We'll improve efficiency in such processes as painting," Nakanishi was quoted as saying. Suzuki's annual production capacity in Japan stands at around 1.4 million vehicles.
GM SAYS WITHDRAWING ALL EU LOAN GUARANTEE APPLICATIONS
Agencies
See this story in: The Economic Times
Berlin: General Motors' Opel unit said Wednesday it was withdrawing all applications for loan guarantees from European governments, saying it would fund its planned restructuring itself.
"The validity and reasons for requesting government guarantees have also not changed but the process has proven to be much more complex and longer than anticipated," the firm said in a statement.
"GM's recently improved financial strength has also been a catalyst for making this decision."
http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/GM-says-withdrawing-all-EU-loan-guarantee-applications/articleshow/6055109.cms
GM withdraws all EU loan guarantee applications
Hindustan Times
http://www.hindustantimes.com/business-news/auto/GM-withdraws-all-EU-loan-guarantee-applications/Article1-558618.aspx
OPEL WITHDRAWS EUROPEAN REQUESTS FOR STATE AID
Reuters
See this story in: Daily News & Analysis
Frankfurt: Opel is withdrawing all requests for state aid from governments in Europe, a week after the German government turned it down, leaving parent company General Motors to fund its European arm's restructuring.
"The decision of the German government last week was disappointing and means that the conclusion of these guarantees is again likely to be months away," Opel said on Wednesday.
The process of obtaining government loan guarantees was too complex and was taking too long in the face of urgent funding needs, which have not changed, Opel said.
The move comes as a surprise after GM for months insisted it needed European governments to pitch in to restructure Opel.
The US carmaker has already agreed to contribute 1.9 billion of US taxpayer funding to keep Opel afloat as the loss-making European brand slashes 20 percent of its capacity and rejuvenates the bulk of its model range through the end of 2014.
Germany's economy minister Rainer Bruederle last week rejected Opel's request for Berlin to backstop 1.1 billion ($1.5 billion) of its borrowing.
http://www.dnaindia.com/money/report_opel-withdraws-european-requests-for-state-aid_1397262
Opel withdraws European requests for state aid
Yahoo India
http://in.biz.yahoo.com/100616/137/bavsiv.html
Opel withdraws requests for aid
The Hindu Business Line
SAUDI ARABIA UNVEILS FIRST HOME-MADE CAR
PTI
See this story in: The Times of India
Dubai: Saudi Arabia has launched its first indigenously made car 'Ghazal', designed by engineers of the King Saud University to suit the needs of the harsh Gulf climate.
'Ghazal', named after a desert deer which is one of the fastest animals that can survive a harsh environment, was launched by Saudi King Abdullah in Riyadh.
The car has been manufactured by engineers at King Saud University (KSU) and has been co-financed by the Ministry of Higher Education.
It is designed to match the climate of Saudi Arabia and other Gulf countries.
Higher Education Minister Khaled Al-Anqari said that students of the university's Faculty of Engineering had been working on the project for the last two years.
"What is achieved is a clear proof of the ability of Saudi youth to make innovations and inventions... if they are provided with adequate facilities and given opportunities," the minister said.
He described the making of Ghazal 1 as a turning point for the Kingdom.
"It also shows that we have capable people who can transform ideas into products of high economic value," he was quoted by the Saudi Press Agency as saying.
The car is 4.8 meters long with a width of about 1. 9 meters and there are plans to manufacture 20,000 cars annually.
"This is a national strategic product and KSU holds its patent rights and intellectual property rights," he said after the unveiling ceremony on Monday.
Professor Said Darwish of KSU's industrial engineering department said the car model was based on tests of category development (wheelbase) in collaboration with several major companies such as Motorola, Mercedes and Magna Canada.
The students were given full freedom to design.
http://timesofindia.indiatimes.com/biz/international-business/Saudi-Arabia-unveils-first-home-made-car-/articleshow/6053545.cms
Saudi Arabia unveils first home-made car
The Economic Times
TOYOTA TO PAY MORE FOR STEEL PURCHASES
AFP
See this story in: The Hindu Business Line
Tokyo: Toyota Motor has agreed to a large hike in the price it pays for steel in a deal that could lead to a substantial increase in purchasing costs for Japanese companies, a report said on Wednesday.
Under the agreement, Toyota will pay an additional 20,000 yen ($220) a tone to buy from Nippon Steel in the April-September period compared with fiscal 2009, the Nikkei business newspaper said.
The hike, the first in two years, will return steel prices to record highs reached in fiscal 2008, the Nikkei said.
ECONOMY
RUPEE RANGE-BOUND
The Hindu Business Line
Mumbai: The rupee was range-bound against the dollar on Wednesday and closed almost unchanged from the previous close. It gave up its intra-day gains as it tracked the euro, which weakened in the second half of trade, said dealers. The rupee opened at 46.35 and closed at 46.53, against the previous close of 46.56. During the day it touched a high of 46.28. There was some dollar-buying by oil companies and importers, said a dealer with a public sector bank. In the forward premia market, the six-month closed at 3.14 per cent (3.20 per cent) and the one-year at 2.8 per cent (2.7 per cent).
http://www.thehindubusinessline.com/2010/06/17/stories/2010061751550600.htm
SENSEX RALLIES FOR SIXTH DAY; CLOSES 50 PTS HIGHER
PTI
See this story in: The Hindu Business Line
Mumbai: Stock markets extended gains for the sixth straight session on Wednesday, with the BSE benchmark Sensex closing 50 points higher on expectations of robust corporate earnings following healthy quarterly tax payments by companies.
Auto and financial sector counters made the most of renewed investor interest, which was also thanks to firm global cues.
Drawing strength from the overnight rally on Wall Street, the Bombay Stock Exchanges 30-share bellwether ended at 17,462.87, up by 50.04 points, or 0.29 per cent - its best closing since May 3.
The barometer opened higher, buoyed by an over two per cent rally in the US markets last night, but profit booking by investors shaved off most of the gains, brokers said.
The session was choppy and the Sensex moved between a low of 17,407.30 points and a high of 17,530.38 during the day.
The National Stock Exchanges wide-based 50 share Nifty Index ended 0.21 per cent higher at 5,233.35 points.
Market sentiment was up on the higher payment of advance taxes, a measure of economic activity and rise in profitability of companies, brokers said. Indirect taxes went up by 49 per cent to around Rs 35,000 crore during April-May.
Market sentiment is bullish on good advance tax numbers and (expectations of) a normal monsoon. The momentum is likely to continue as confidence among investors is coming back, Unicon Financial CEO Ganjedra Nagpal said.
Auto stocks were on top gear, with Tata Motors climbing 2.39 per cent, a day after the company said its global sales rose by 50 per cent in May on robust demand for both commercial and passenger vehicles.
M&M, which has given an expression of interest (EOI) for South Koreas Ssangyong motors, soared 3.69 per cent and was the biggest gainer in Sensex components. Maruti rose 1.52 per cent. Hero Honda, however, lost 0.79 per cent.
Strong demand was witnessed in financial stocks. ICICI Bank advanced 2.37 per cent, HDFC 1.84 per cent, HDFC Bank 0.5 per cent.
IT stocks too participated in the rally and rose in the range of 0.3-1.5 per cent on hopes that economies in the developed world are coming back on the track. Infosys jumped 1.12 per cent.
Continuing its rising streak for another day, Anil Ambani-led Reliance Communications ended 0.21 per cent higher. The stock has been on rising streak in recent sessions on various steps taken by the company management.
However, index heavyweights RIL and Bharti Airtel closed in the red and dragged the broader market.
Reliance Industries, which has the maximum weight on the benchmark, ended with a loss of 0.76 per cent to Rs 1,057.0.76. Indias top telecom operator Bharti Airtel on the other hand dropped 1.28 per cent.
http://www.thehindubusinessline.com/blnus/05161901.htm
Last Financial closing
Sensex 17,462.9
US$ spot Rs.46.51
US$ Y.91.5388
US$ 6 months Rs.57.14
Yen Rs.0.51
Euro spot Rs.57.14
LIBOR 6 months %
Call %
GOI sec. 10 years - - - -
Aluminium (per kg) (Mum) Rs.91.11
Aluminium Ingot Rs.
Copper (per kg) Rs.309.55
Gold (10gm) Rs.18,900.0
Lead (per kg) Rs.78.11
Mild Steel Ingots (Mumbai) Rs.23000.00
Nickel (per kg)(Mumbai) Rs.
Nickel Cathode Rs.931.86
Silver (1kg) Rs.29305.00
Sponge Iron (per tonne) Rs.17425.00
Steel Flat (per tonne ) Rs.31930.00
Steel Long GVD (per tonne) Rs.
Steel Long BVN (per tonne) Rs.26270.00
Tin (per kg) Rs.
Zinc (per kg) (Mumbai) Rs.82.16
Zinc Ingot Rs.- - - -
Rubber Rs.16971.00
Crude Oil (WTI) - - - -
Crude Oil (Brent) $77.4
Automobile
Scip on BSE Face Value (Rs) Last traded Value (Rs)
Apollo Tyres 1 64.80
Asahi Ind 1 66.40
Amara Raja B 2 176.60
Ashok Leyland 1 62.40
Bajaj Auto 10 2281.40
Bharat Forge 2 278.15
Denso 10 90
Eicher Ltd 10 - - - -
Eicher Motor 10 940.70
Escorts 10 194.90
Exide Ind 1 124.90
Force Motors 10 389.15
Gabriel India 1 55
Hero Honda 2 2009.70
Hind Motors 10 20.40
Hi-Tech Gear 10 169.90
Jay. Bh. Maruti 5 73
Jamna Auto 10 86.50
JK Tyres & Inds 10 167.30
Kinetic Motors 10 19.90
Kinetic Engg 10 91.20
KOEL 2 - - - - -
Kirloskar Br: 2 260
LML Ltd 10 9.10
L&T 2 1718.65
Lumax Ind 10 215.65
Lumax Tech 10 116.70
M&M 10 630.25
Maruti Suzuki 5 1364.35
Motherson SS 1 145.10
Minda Inds 10 279.95
MRF 10 7471.20
MICO 10 - - - -
Omax Auto 10 52.80
Perfect Circle - - - - - - - - - -
Rico Auto 1 24.35
Sona Koyo St 2 19
SKF Bearing 10 - - - -
SRF 10 228.10
Swaraj Mazda 10 347.05
Tata Motors 10 778.20
TVS Motor 1 102.35
Metals
Scrip on BSE Face Value(Rs) Last traded Value (Rs)
Bhushan Steel 10 1378.80
Essar Steel 10 - - - -
Hindalco 1 144.75
Hind Zinc 10 1014.25
Ispat Inds 10 17.25
Jindal Iron 10 - - - -
Jindal Stain 2 - - - -
JSW Steel 10 1056.80
Jindal Steel 5 651.85
National Aluminium 10 434
SAIL 10 198.05
TISCO 10 485.50
Visa Steel 1 37.35
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Thursday, June 17, 2010
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