Auto Sector

Volvo Introduces Luxury SUV Variant

Volvo Introduces Luxury SUV Variant Swedish luxury car maker, Volvo, launched a new sports utility vehicle (SUV) XC90 on Wednesday. It is also planning to launch XC60 model in Indian market. 

XC90 sports model can be availed at Rs. 58 lakh. It supports a strong engine having 32 valve and 4.4 liter patrol capacity. It is available in five colors. XC90 is equipped with a number of luxury and safety features having sport-tuned chassis, sports calibrated steering and sophisticated stability control techniques.

Another Small Car in India by Honda in 2009

Another Small Car in India by Honda in 2009The Indian Automobiles industry will soon touch a new high with major players gearing up to make their place in the market of the middle and upper middle class Indians. 

As if endorsing such a thought the Vice-President (marketing) Honda Siel Cars India , the Indian subsidiary of the Japanese Car Makers 'Honda' Mr. Jneswar Sen said "We are designing a small car which will be launched a few years down the line". 

Harley-Davidson's third-quarter profits plunge 37 per cent

Harley-Davidson's third-quarter profits plunge 37 per cent Washington - Harley-Davidson Inc, the largest US motorcycle maker, Thursday reported a 37-per-cent drop in its third-quarter profits amid a slowdown in its global bike sales and the ongoing credit crisis.

Revenue for the quarter was 1.42 billion dollars compared to 1.54 billion dollars in the year ago quarter - a 7.7-per-cent decrease. Net income for the quarter was 166.5 million dollars compared to 265 million dollars in the third quarter of 2007, a decrease of 37.1 percent, a company statement said.

Honda maintains earnings projections despite financial crisis

Honda Motor CoTokyo - Japan's second-largest automaker, Honda Motor Co, said Thursday that it sees no need to revise its earnings projections for the current fiscal year despite worries about a global economic slowdown.

The remarks by Honda President Takeo Fukui came after his counterpart at market leader Toyota Motor Corp said the business outlook for the automotive market was "very severe."

As world stock markets fall as part of the global financial crisis, consumer spending has been affected, Toyota President Katsuaki Watanabe said.

Gujarat Changed Industrial Policy For Nano: Congress

Nano car project is facing new challenges day by day. Now, the state congress demanded details of the deal signed between Gujarat government and Tata motors. 

The party has demanded the detail through Right to Information (RTI) Act. The party alleged that the state has changed the entire industrial policy for the sake of small car project of TATA group. 

The Congress spokesperson, Arjun Modhvadia has also demanded proper compensation for affected farmers of Sanand.
Gujarat Congress president, Sidhdharth Patel said that the party wanted to disclose the incentives being offered to the landholders. He also alleged the change in industrial policy of the state for the benefits of TATA. 

Tatas Acquire 50.3% Stakes In Norwegian Miljo Grenland

Tatas Acquire 50.3% Stakes In Norwegian Miljo GrenlandTATA group owned Tata Motors has acquired a 50.3% stakes in Miljo Grenland/Innovasjon for Rs 9.4 crore. TATA Motors's UK arm would provide the required funds for the acquisition. Miljo is a Norway-based electric vehicle major. It was founded in 1997 to provide zero emission vehicles. It would start a new era of battery-operated vehicles in the Indian market. India is still lagging behind in electric vehicles category due to non-availability of required technology.