Bajaj Confident Of Beating TVS
Bajaj Auto has stated that it will be ahead of its arch rival TVS Motor, despite the sales gap narrowing between the two. Bajaj Auto is the country's second largest two-wheeler maker by sales and will launch 7-8 new models or upgrades this year in the two-wheeler segment.
"If you see figures of the total year the distance is very large. But, it was only in a couple of months where the distance went down. If you see the whole year, we were far ahead of TVS and we expect to be far ahead this year also," Bajaj Auto Vice Chairman, Madhur Bajaj said. "This year we expect the position to become better. We are coming out with 7-8 new models or upgrades and expect to generate a lot of interest through these," Mr Bajaj added.
Recent data released by the Society of Indian Automobile Manufacturers (Siam), suggested that while TVS and Bajaj reported a fall in sales in 2008-2009, the fall was steeper in Bajaj's case, where sales dropped by nearly a quarter, as opposed to TVS, which lost sales by more than a percent. This contrast made TVS inch closer to Bajaj.
[Via: Motorbeam]
Yamaha’s Proposal Cleared by the Government
The government cleared 22 foreign direct investment proposals worth Rs. 541.25 crore recommended by the Foreign Investment Promotion Board (FIPB). This includes proposal from Yamaha that included transferring of its Indian sales business to a new entity - India Yamaha Pvt. Ltd.
The Indian subsidiary of Japanese two-wheeler manufacturer Yamaha Motor India Sales Pvt. Ltd. has sought approval of the government to shift its sales operations to a new company which will be a wholly owned subsidiary of Yamaha Motor Co. Japan.
Earlier this proposal was deferred by the Foreign Investment Promotion Board stating that the new company shall promote retail trading. The company later stated that it will not do any retail trading of bikes which helped to clear the proposal from the board.
The FDI proposal cleared by the government also includes proposal from Delhi-based Anant Raj Industries that has been given ex-post facto approval for issuance of warrants converted into equity shares worth Rs. 90.24 crore and Nokia to set up the first single-brand retail joint venture with HCL Infosystems to sell handsets and accessories.
[Via: cartradeindia]
SKF to Invest in India
The Indian subsidiary of Swedish auto component maker SKF is planning to invest Rs. 150 crores in India. SKF is a leading technology and solutions provider of bearings, seals and related products. It will set up a new manufacturing plant in Haridwar in Uttrakhand. SKF is the largest auto component manufacturing firm in India for bearings and seals for aerospace.
The new production unit will increase the manufacturing capacity of ball bearings by at least 30 percent. It shall be company's fifth manufacturing unit in India. SKF already has nearly 120 manufacturing units across the globe. The company has taken the decision looking at the increase in demand for auto parts. It had earlier put this investment on hold for past two years due to slowing demand.
"Auto sales have revived in the January-March quarter and we expect demand to grow in the future. As the economy is expected to improve in the next few months, we will be ready with the plant early next year," said SKF India MD Rakesh Makhija.
"Hero Honda is doubling production to one million motorcycles in Haridwar so a strategic decision be close to the client. We have a five-year lock in supply agreement with Hero Honda but shall develop the 10-acre facility to supply to other auto makers," he added.
[Via: caretradeindia]
You need to log in to vote
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up