- Auto component major Motherson Sumi Systems Ltd (MSSL) has completed a USD 65.7-million deal for acquiring wiring harness
business of US-based Stoneridge Inc. Commenting on the development
Samvardhana Motherson Group Chairman VC Sehgal said: "This acquisition
reaffirms our commitment to our customers and reiterates our vision of being a
globally preferred solutions provider. (economicstimes.com)
- Japanese auto major Suzuki Motor Corporation's (SMC)
chairman and chief executive Osamu Suzuki called on Prime Minister Narendra
Modi on Thursday.The meeting was described as a courtesy call by the Prime
Minister's Office.(financialexpress.com)
- Suzuki is in India to attend the Board meeting of SMC's
Indian subsidiary Maruti Suzuki India (MSIL), which announced 20.69-per cent increase in net profit to Rs
762.28 crore for the first quarter.(businesstoday.in)
- On the back of its new cars Honda Cars India Ltd has toppled
India’s largest UV maker Mahindra & Mahindra from its third spot by
outnumbering the latter in July sales at 15,709 units as against Mahindra’s
12,472 units sold last month. Honda’s Amaze, City and newly launched MPV
Mobilio proved to be the major driving force behind this achievement. Honda
India registered 40 per cent growth last month at 15,709 units including
domestic sales and exports. Reigning mid-sized sedan segment, City contributed
around 7,705 unit sales last month, Amaze on the hand garnered 4507 unit sales.(cartrade.com)
- Korean car major Hyundai is
looking to tap new customers in rural areas and corporate segment to increase
its market share in the Indian automobile market. The company's
wholly-owned arm Hyundai Motor India Ltd (HMIL), which will make the
global launch of its all new premium hatchback Elite
i20 this month, also plans to introduce a new model each year in the
segment where it is not present. (economicstimes.com)
- Jnaneswar Sen, Sr. Vice President – Marketing & Sales,
Honda Cars India Ltd.elaborated on ongoing progress. Recently launched Honda
Mobilio has been received well with over 10,000 bookings since launch. Honda
Amaze and all new City are in strong favour and are expected to continue to do
well in respective segments.(rushlane.com)
- The Indian premium hatchback segment is witnessing a lot of
action as several new and refreshed hatchbacks are being launched. Economic
Times reports that the Maruti
Swift facelift will be here in November to take on the refreshed VW
Polo, Fiat Punto Evo and the upcoming new Hyundai
Elite i20 and Tata Bolt. (indianautoblogs.com)
- Within the next 24 months, Tata Motors will launch its first ever compact
crossover SUV in India by way of the Nexon. Shown as a concept
at the Delhi Motor Show earlier this year, the Nexon previews a Ford
EcoSport rival from the Indian car maker which was once known for its
stronghold of the UV segment.(indianautoblogs.com)
- Skoda India has launched a 24X7 road side assistance
program for owners of their entire car range. This 2 year long programme is
effective from 1st Aug 2014 and is especially developed to benefit those
customers who are not covered under standard road side assistance program. (motortrend.com)
- The turnover of India's auto component sector shrank for the first time ever in
the past fiscal year, with manufactures blaming increasing Chinese imports and
a tough local automotive market for the drop.Local parts makers posted a
turnover of Rs 2.11 lakh crore for the year ended on March 31, a 2% drop from
the previous year's Rs 2.16 lakh crore, show data from the Automotive Component
Manufacturers Association of India (ACMA).(Etauto.com)
images from livemint.com and rediff.com
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