Dashing hopes of the big car manufacturers for the excise duty at same level with the small car, Finance Minister P. Chidambaram has ruled out extending tax concessions to bigger vehicles.
He also said that there was no scope for decreasing duties on the imported hybrids vehicles, while government could consider providing extra tax incentives if they were built in India.
editor on July 21st 2008 in Auto Finance, Auto India News
Hero Honda Motors reported a 31.46% growth to Rs 275 crore for 3rd quarter ended 31st December, 2007, compare to Rs 209.18 crore in the same last year.
The total income upped by 3.53% to Rs 2,795 crore from Rs 2,699.63 crore.
Their standalone total sale for the 3rd quarter has been rapidly increased by 2.91% to Rs 2,743.67 crore from 2,666.05 crore in the same quarter last year.
editor on February 1st 2008 in Auto Finance, Honda
India’s Tata Motors Ltd on Thursday reported a 2.75% fall in the third quarterly net profit. The net profit has slipped 2.75% to Rs 499.05 crore this year compare to the last year.
The total increment in its income for the quarter ended 31st December, 2007 from Rs 6,910.07 crore is Rs 6.27%, which is Rs 7,343.64 crore in the same last year.
Combined results showed a net profit of Rs 654.79 crore for the quarter ended 31st December, 2007 as compare to the same last year.
editor on February 1st 2008 in Auto Finance, Tata Motors
“Maruti Udyog Ltd” Country’s one of the largest carmaker Industry has posted Q3 net profit of Rs 467 crore in December as compare to Rs 376.4 crore for the same period a year ago.
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editor on January 30th 2008 in Auto Finance, Maruti Suzuki
After making and launching the world’s cheapest car, Tata Motors is exploring the possibility of providing direct loads for the Nano buyers through sources like Tata Motor Finance (TMFL), a wholly owned subsidiary, or existing financing channels.
editor on January 28th 2008 in Auto Finance
In the view of recent US Fed rate cut of 75 basis points due to slow economy growth in USA, banks and people are speculating that RBI with also cut some rates in India as well. If that happens, car loan rates in India are expected to come down.
So if you are planning to buy a car through car loan, I think you should wait till next Tuesday when quarterly monetary policy is announced by RBI.
Auto India on January 24th 2008 in Auto Finance