IYM, SMI sales up 46.85% and 20.35% in July 2009
Yamaha Motor India reported a 46.85% hike in its sales during July this year, at 17,316 units, as compared to 11,792 units sold during July 2008. IYM recently inaugurated its new manufacturing facility at Surajpur, in UP, and also launched a new variant of the FZ16 - the Fazer 150. In the meanwhile, Suzuki Motorcycle India also registered an increase of 20.35% in its sales during July this year, at 12,585 units, as compared to 10,457 units sold during July 2008.
[Via: indiaautomotive]
Bajaj Auto increases stake in KTM to 31.72%
Pune-based two- and three-wheeler manufacturer, Bajaj Auto has hiked its stake in Austrian two-wheeler manufacturer, KTM Power Sports AG, via its fully owned subsidiary, Bajaj Auto International Holding B.V.
Bajaj's stake in KTM has now gone up from 26.22% to 31.72%. The Pune-based company picked up this stake last week, when KTM was looking at raising funds via an increase in its share capital. Of the 687,357 new shares that were created, Bajaj Auto picked up 416,216 shares at a subscription price of €25 (US$31) per share. Hence, hiking its stake in KTM to 31.72% would have cost Bajaj about Rs 64 crore.
In the business year ended 31st August 2008, KTM reported revenues of €605.7 million (about US$776.9 million), up 7% from €566.1 million in the prior business year. The Austrian company sold 92,385 units in 2008, a marginal increase over the 90,306 units it sold in 2007.
As has already been reported earlier, Bajaj and KTM are working on a range of 125-250cc bikes for the Indian, Southeast Asian and European markets. Bajaj is also expected to launch a few KTM bikes in India, via the CBU imports route.
[Via: indiaautomotive]
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