Mahindra & Mahindra today reported 17 percent rise in total sales to 52,718 units in March as against 45,124 units sold in the same month of last year.
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Hero Cycles, the world’s largest cycle manufacturer by volume, today announced a senior level executive appointment of Mr
Most of the two-wheeler manufacturers registered a weak set of numbers except Bajaj Auto and Royal Enfield, which managed to grow well.
RC Bhargava, Chairman, Maruti Suzuki, says, it is too early to say if we are seeing real improvement in long-term growth, though April has been a good month for automotive industry.
India's automotive industry is expected to reach 7 million vehicles milestone by 2020, making the country the third-largest auto manufacturer in the world, behind the US and China, a top official at Ford Motor has said.
JK Tyre's net sales during the quarter under review stood at Rs 1,799.01 crore compared to Rs 1,729.39 crore in the same period last fiscal. The company today also announced capex of Rs 1,430 crore at its Chennai plant for both truck/bus and passenger car radials.
CNBC-TV18's Ronojoy Banerjee and Sunanda Jayaseelan report that the effects of slowdown in the automotive industry are being felt by component suppliers as well.
Sibur, the Russian petrochemical company, and Reliance Industries Limited (Ril), formed a joint venture, Reliance Sibur Elastomers Private Limited, which will produce 100,000 tons of butyl rubber per year in Jamnagar. The butyl rubber will be supplied to the automotive industry in India, Reliance said.
The automotive industry faces a tougher year in 2012 than it has done this year, Audi Chief Executive Rupert Stadler told Reuters in an interview for release on Sunday.
A slowdown in the automotive industry is expected this year owing to increase in the prices of vehicles and fuel, among others, a top industrialist said on Monday.
Hyundai Motor Co's Indian unit sales will rise 15 to 17% in 2011 although overall market growth is poised to cool from last year's scorching 31% as rising prices and interest rates crimp demand, a senior official said.
No increase in excise duty in budget 2011 by the finance minister has Maruti's chairman RC Bhargava, bullish on the entire automotive industry and his company, in particular. He tells CNBC-TV18 that the budget has been received well in his sector, with no negative markings visible.
Speaking to CNBC-TV18 about expectations from upcoming budget, Rahul Bajaj, chairman of Bajaj Group said, the government should strive to cut down the fiscal deficit.