In another alarming sign for Indian automobile sector, Hero MotoCorp has announced that the company will keep its plant shut for four days on account of holidays and lower demand for its two-wheelers. Hero MotoCorp has been market leader in many two-wheeler segments and the company has witnessed strong growth in profit and sales over years.
Indian government will need to take bigger steps in order to promote electric vehicles in India. Automobile companies are suffering from lower sales as many consumers are waiting for new launches in electric vehicles segment. However, the companies have failed to launch any mass market vehicle in the Indian market.
For Indian consumers, electric vehicles in price range of 8-12 lakh will be ideal. However, Hyundai has launched Kona electric in Indian market with a price tag of 24 lakh. It will be difficult for this vehicle to reach enough of sales volume to make viable case for Hyundai.
Frankfurt - A German government car scrappage scheme has pushed sales of Japanese-branded cars in Germany up by a third, the Japan Automobile Manufacturers' Association (JAMA) branch in Frankfurt said Thursday.
To encourage new-car sales, the German government is paying owners of old cars 2,500 euros in subsidy to send them to the wrecker.
First-quarter new registrations of Japanese brands in Germany were just under 120,000 vehicles, 31 per cent more than in the comparable quarter of last year, Andreas Meckel, the JAMA chief in Frankfurt, told reporters.
London, Apr 30 : The wrangling between the Treasury Department and the Lord Mandelson-led Business Department might delay an 800 million pound emergency package for the Tata owned Jaguar Land Rover.
Jaguar Land Rover executives fear that even if they can agree terms with the Treasury for the refinancing it may be months before they receive the cash. Such a delay could force the carmaker to cut jobs in its 15,000-strong workforce to stay afloat.
Officials from the Business Department (BERR) met executives representing Jaguar Land Rover this week to discuss the package, The Guardian reported.
Washington - Chrysler LLC hoped for a last-minute miracle to keep it out of bankruptcy as an ultimatum for the ailing US carmaker to restructure or lose the government's support was bearing down on the company Thursday.
As government-brokered negotiations between Chrysler and nearly 50 creditors went into Wednesday night, President Barack Obama offered few details but suggested the last-ditch efforts had yielded some positive results.
Frankfurt - A German government car scrappage scheme has pushed sales of Japanese-branded cars in Germany up by a third, the Japan Automobile Manufacturers' Association (JAMA) branch in Frankfurt said Thursday.
London, Apr 30 : The wrangling between the Treasury Department and the Lord Mandelson-led Business Department might delay an 800 million pound emergency package for the Tata owned Jaguar Land Rover.
Washington - Chrysler LLC hoped for a last-minute miracle to keep it out of bankruptcy as an ultimatum for the ailing US carmaker to restructure or lose the government's support was bearing down on the company Thursday.
