Auto Sector

Obama calls on Chrysler bondholders to sacrifice

Obama calls on Chrysler bondholders to sacrifice Washington  - US President Barack Obama called on Chrysler LLC bondholders to make sacrifices in order to keep the nation's third largest automakers from filing for bankruptcy.

Obama, speaking at a town hall meeting in Arnold, Missouri, credited the autoworker unions for taking the necessary steps to help Chrysler avoid bankruptcy protection.

"One of the key questions now is: Are the bondholders, the lenders, the money people, are they willing to make sacrifices as well?" Obama said. "We don't know yet."

Toyota small car will be priced in the range of Rs 5 lakh to Rs 7 lakh in India – discloses Toyota Kirloskar Motor

The joint venture between Toyota Motor Corporation and Kirloskar Group – Toyota Kirloskar Motor Private Limited, which sells Toyota brand of cars in India, has disclosed the price of its compact small car that Toyota is planning to roll out next year. Toyota Motor, which gained wide popularity for its Qualis and Innova, is gearing up to launch two new cars – eagerly awaited SUV Fortuner and a small car – in the Indian market.

Toyota has already disclosed that its new small car will be released in petrol and diesel variants, and now Toyota Kirloskar Motor has disclosed that the new small car from Toyota will be priced in the range of Rs 5 lakh to Rs 7 lakh.

Volkswagen brand slides to 1st quarter loss

VolkswagenWolfsburg, Germany - Germany's biggest carmaker said Wednesday that its core Volkswagen brand posted an operating loss of 279 million euros (368 million dollars) in the first quarter of 2009. The company said sales of VW models slumped 15 per cent to 765,000 and turnover dropped 20.8 per cent to 14.3 billion euros as worldwide demand for cars dropped in the face of the global economic downturn.

The 1st quarter loss compared to an operating profit of 461 million euros in the same quarter of 2008.

Volkswagen's Spanish subsidiary Seat posted a loss of 145 million euros compared to a a profit of 12 million euros in the first quarter of 2008.

Honda looking to hike Honda CR-V prices in India

Honda looking to hike Honda CR-V prices in IndiaStruggling with the impact devaluation of rupee on its business, the Honda Siel Cars India, Limited (HSCI) is looking to hike Honda CR-V prices in India. The HSCI has disclosed that the Honda CR-V prices could be increased by 30 percent in India. The HSCI is joint venture between the Honda Motor Company Limited, Japan and Siel Limited, a Siddharth Shriram Group company.  

Cleaner Lotus Elise and Exige

Hethel, England - The British sports car maker Lotus has cut fuel consumption and emission figures for the 2010 Exige and Elise models by about 9 per cent.

Renault Grand Scenic in the showrooms

Renault Grand Scenic in the showroomsParis - French car maker Renault has announced that the new Grand Scenic van, which seats between five and seven people, is available in European showrooms with a starting price of 20,200 euros (26,370 dollars).

Standard equipment includes Electronic Stability Programme (ESP), six airbags, air conditioning, CD-Radio and electric parking brake.

The new generation Grand Scenic is seven centimetres longer at 4.56 metres with improved head and knee space, according to the manufacturer.

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