Auto India, Car India

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Bajaj Auto Finance Ltd has introduced a new financing plan for its models. Bajaj not only finances its 2-wheelers but also extend a free warranty on each Bajaj bike. The company intends to communicate with the customers.
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Honda has announced the start of new concept ‘Honda Fest’ across all its dealerships in India, to coincide with the start of deliveries of its all new Honda City. It is started from 28 Nov’08 up to 30 Nov’08, at all its dealerships. It’s an attempt by Honda to nurture a sense of belonging with its brand.
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Suzuki Motorcycle India Pvt Ltd introduced its iconic superbikes, the Hayabusa (1300cc) and cruiser Intruder M1800R. Both are priced at Rs 12.5 lakh (each) at ex-showroom, Delhi.

Suzuki targets to sell more than 350 superbikes per annum. Already Yamaha has introduced its YZF-R1 1000cc superbike and the MT-01, 1670cc, priced in the range of Rs 10-15 lakh. Triumph, the Italian buke maker also has launched its Multistrada, Monste and 1098 super bikes in India, priced in the range of Rs 15-55 lakh.

Suzuki is investing on the increasing demand for super bikes and will import 50 such superbikes this year.

We have already imported 30 bikes that will take care of a 20 day stock inventory at the dealership. We will be evaluating the response and going for more imports as the demand picks up.

- Mr. Atul Gupta (SMIPL vice-president) said.

Suzuki already has ordered 30 superbikes at 7 metros, where they will be selling these bikes. More than 70 percent bikes are the Hayabusa model.

We are currently evaluating the market. A lot of the product launches depend on the market response to the Hayabusa and Intruder, though we are expecting higher demand for the much smaller GSX-R sport bikes, which are in the 400 cc to 600 cc range of engine power.

-Mr Gupta said.

Bank of Baroda (BoB) has signed the Memorandum of Understanding (MoU) with the Maruti Suzuki India for enabling car loans and aims a total credit growth of 25% in a current financial year.
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IndusInd Bank has joined with the TVS Motor Co. for giving finance to the dealers. This tie up will assist bank to raise its field of trade, it will facilitate TVS Motor Co. to enhance its backward integration programme.
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The Indian auto industry, which is already facing some rough climate these days, has showed its unhappiness with government’s current decision to impose restrictions on import of certain key components in India.
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India’s one of the largest car manufacturers, Maruti Suzuki has introduced it’s A-Star in Nagpur, Maharashtra.

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Jaguar Land Lover, UK-based car manufacturer has approved it’s in secrete talks with the UK government for the £1 bn (Rs. 7440 crore) loan to aid investments in a carbon reduction technologies and stimulate demand.
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Honda is decided to increase car prices across models by Rs. 10K to Rs. 1.5 lakh from January 2009 to factor in increased production price due to fall of rupee and costly raw materials.
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Tata Motors has announced it would close its Jamshedpur plant 2nd time due to the current global recession.

The plant would remain stopped from November 25 to 29, Mr. P J Singh (company spokesperson) said.

The same decision was taken by the Tata Motors earlier this month, when rising interest rates forced customers to delay their purchases.

This decision is the part of company’s strategy to tone production with the demand.