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General Motors India had signed Memorandum of Understanding (MoU) with India’s leading stae-run lender - SBI to give financing to its range of vehicles.
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VW AG has decided to give 222.5 billion yen (USD 2.5 billion) for 19.9% stake in the Suzuki Motor Co.

VW and Suzuki Motors are planning to manufacture electric and hybrid cars under their brands together. Mr. Osamu Suzuki (Chief Executive Officer, Suzuki Mo.) said that the company would purchase as much as 50billion yen in the Wolfsburg, Germany based Volkswagen’s ordinary shares. Volkswagen will be the topmost shareholder in the Hamamatsu, Japan based Suzuki. Continue Reading »

Hyundai Motor India Limited (HMIL), the South Korean Car Maker on Tuesday said that the company was now manufacturing another small car model by investing approximately INR 800 cr for India. However it didn’t disclose the other details & launch date for this car.
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Bajaj Auto Ltd , India’s second largest two wheeler manufacturer has registered a 52.38% growth in its bike sales at 2,49,681 bikes in the month of October’09.
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Mahindra & Mahindra has tied up with the Punjab National Bank (PNB) for financing its vehicles.
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Luxury car manufacturer BMW India has declared its plans for setting up the Non-Banking Finance Co.(NBFC) in the country by 2010. It will be named as BMW Finance Services (BFS), will be 100% subsidiary of BMW Group, Germany.

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Tata Motors has declared consolidate loss of INR 328.78 cr in first quarter of this fiscal compared to INR 720 cr profit in the same period last fiscal. The main reason was a constant fall in sales of subsidiary Jaguar Land Rover.

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India’s largest two-wheeler manufacturer, Hero Honda has become the monarch of two-wheeler industry with crossing a mark of 4 lakhs for first time in history. It has reported 36% growth in its sales at 4,15,137 bikes in a month of August.
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BMW India, the subsidiary of the German Auto giant BMW, has recorded 14% increase in its sales in first 7 months of 2009. During this period, BMW India sold 2008 cars as to 1763 cars in same period 2008.

Thus BMW India has become the top luxury car maker in the country with Mercedes following. The auto giant expects to sale 3000 cars for this year. BMW India has its production plant in Chennai having the capacity of making 3000 units per year.

Lackadaisical performance of Mercedes Benz in the first half of this year is due to impending new E-Class sedan launch in India. As many potential buyers prefer to wait for the new version than to buy the existing models. Moreover, BMW’s product launches have been greater than Mercedes and it is pulling out all stops to ramp up its distribution base across the country.

- Industry expert said.

In April-July 2009 period, the company sold 1016 units as against 853 units by Mercedes. This year, two models of BMW India are in queue to get launch driving sales increase in India.

Bad news for Tata! Long waiting process for Nano delivery and EMI payment before its delivery are compelling people to cancel Nano bookings.

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