Auto Sector

Japan's automakers see domestic sales decline

Tokyo - Japan's automakers posted declines in domestic sales and increases in exports in the first six months of 2008, attributing the falls to surging oil prices and stronger exports to rising demand in other Asian nations, mainly China.

Toyota Motor Corp and its subsidiaries, Daihatsu Motor Co and Hino Motors Ltd, saw a 1.7-per-cent drop in sales in Japan in the January-June period to 1.18 million units, compared with the same period last year.

The company's exports, however, grew 3.6 per cent to 1.47 million units.

Its global production rose 5.8 per cent to 4.98 million units.

M&M successfully raises Rs 700 crore through FCDs

Tata considering to enter top end luxury car market, report says

London - India's Tata Motors groupIndia's Tata Motors group, which owns British luxury car maker Jaguar and Land Rover, has said it plans to revive the super-luxury Daimler brand to appeal to wealthy customers from Asia, Russia and the Middle East.

Ratan Tata, head of the Indian conglomerate, has told investors of his plan to resurrect the Daimler marque in direct competition with luxury brands Bentley and Rolls-Royce, Britain's Times newspaper reported Monday.

Tata had earmarked 1 billion pounds (2 billion dollars) to develop new models at its British-based manufacturers, the report said.

Maruti Suzuki To Launch New M800 ‘Uniq’

To strengthen its oldest popular model Maruti 800 (M800), India’s giant car Maruti Suzuki To Launch New M800 ‘Uniq’manufacturer Maruti Suzuki is proposing to roll out ‘Maruti 800 Uniq’ in the Indian market.

The new Maruti 800 `Uniq` is an advanced version, which comes equipped with a range of new features including body graphics, all new beige upholstery, trendy door trims with fabric patch, smart lower console box, rear package tray, stylish dome decal to draw young consumers.

Porsche to book profits higher than turnover, German report

PorscheBerlin - German luxury carmaker Porsche, which holds almost a third of mass producer Volkswagen, is to publish figures for the financial year ending July 31 that will show profits higher than turnover, a news report said Saturday.

Der Spiegel news magazine said the unusual accounting situation would result from the revaluation of the 31-per-cent VW stake. Porsche would report profits of more than
11 billion euros (17 billion dollars) on turnover of just 8.6 billion euros.

VW moves RHD Golf production to main German plant from South Africa

WolfsburgVolkswagen, Germany - Volkswagen is to build the right-hand- drive version of its new Golf model at its main German plant in Wolfsburg, shifting production from its plant at Uitenhage on South Africa's southern coast, the company announced Saturday.

VW South Africa head David Powells told the newspaper Wolfsburger Allgemeine Zeitung the RHD version of the Golf VI, aimed at the Asia- Pacific and African markets, would be available in October.

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