- The government is expected to provide tax incentives to
units in special economic zones (SEZs) which are mainly into manufacturing
activities, a move which will help in attracting investments in the zones.Export
promotion body for special economic zones has asked the Finance Ministry to
roll back or reduce the minimum alternate tax (MAT) and dividend distribution
tax (DDT) on SEZs. (ETauto.com)
- Maruti Suzuki has two huge production facilities in Manesar
and Gurgaon, Haryana. The company is in the process of developing a new R&D
and testing centre in Rohtak in the same state. The huge facility will be built
over an area of 600 acres and it was expected that the testing centre will be
functional by 2015. However, the R&D centre has hit a roadblock and
currently the facility is stalled. According to the Environment and Forest
Minister from the previous government, any industry that wanted to construct a
premise of over 20,000 sq.metres was required to seek an environmental
clearance.(motorbeam.com)
- Mahindra & Mahindra is looking to strengthen its global presence even as
its sales have been shrinking in the local market, and industry experts say
alliances with global auto majors could play a key role. The Mumbai-based
company is working out a joint entry strategy in key markets with Korean unit
Ssangyong Motor and exploring alliance opportunities with Swedish carmaker Saab
and Peugeot Citroen of France, people in the know said. (economicstimes.com)
- Yamaha Motor India Sales today launched its two new models to comprise its very
successful FZ Series in the city.The company is selling around 18,000 units per
month of the FZ series making it the second largest selling brand in the deluxe
segment. With the launch of these two variants, it expects to increase the
sales around 24,000 units per month, a company release said. (ETauto.com)
- Back in April this year, the news was revealed that
Volkswagen is planning to set up its first car plant in Thailand. Now, a German
magazine reveals that this new Thailand plant will be built at an investment of
€1 billion (Rs 7,797 cr or $ 1.29 billion).(rushlane.com)
- Auto components firm Bharat Forge has sold 50 per cent stake
in its joint venture company Impact Automotive Solutions Ltd for Rs 10.80
crore."The company has divested its 50 per cent stake in Impact Automotive
Solutions Ltd," Bharat Forge said in a BSE filing today.(ETauto.com)
- Spy photographers have caught the Suzuki Baleno/Maruti YRA
hatchback undergoing preliminary testing, further confirming that Suzuki is
indeed working on a brand new vehicle. The upcoming hatchback will sit above
the regional-favorite Swift, and will compete with new rivals like the 2015
Hyundai Elite i20 and the 2014 Honda Jazz/Fit.(indianautoblogs.com)
- Volvo’s
first vehicle to be sold online - the XC90 First Edition was sold out in just
47 hours after going on sale in a few international markets. About 1927
personalised models of the Volvo XC90 First Edition were created to celebrate
the launch of the SUV.It is said that majority of the cars were sold within an
hour which works to about seven cars being sold every minute at peak time. “The
huge interest in the XC90 escalated to astronomical levels after the world
premiere last week,” said Volvo’s sales and marketing chief Alain Visser.(carwale.com)
image from hemantmishra.in and carwale.com
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