Ashok Leyland Q2 net profit jumps 71% to Rs 294.41 cr
Posted by on 08 November

Ashok Leyland Q2 net profit jumps 71% to Rs 294.41 cr

New Delhi: Hinduja flagship firm Ashok Leyland on Tuesday reported a 70.96 per cent increase in standalone net profit at Rs 294.41 crore for the second quarter ended September 30, 2016. The company had posted a standalone net profit of Rs 172.2 crore in the same period last fiscal, Ashok Leyland said in a BSE filing. Its total income from operations stood at Rs 4,911.62 crore as against Rs 5,274.36 crore in the year ago period, down 6.87 per cent. While, the company had a foreign exchange gain of Rs 6.56 crore in the quarter under review, in the year-ago period it had incurred an exceptional item loss of Rs 157 crore as impairment loss in respect of investments in joint ventures and subsidiaries.
0 0 605 08 November, 2016 Auto more
Toyota launches the new Fortuner in India 
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Toyota launches the new Fortuner in India 

New Delhi: Toyota Kirloskar Motor (TKM) on Monday launched the all new Fortuner priced between Rs 25.92 lakh and Rs 31.12 lakh (ex-showroom, Delhi). The new Fortuner comes in both petrol and diesel options. The petrol version comes with a 2.7 litre engine and the diesel with a 2.8 litre engine. Earlier this year, Toyota also brought in a petrol version of the Innova to de-risk sales. Sales of best-sellers Innova and Fortuner had been hit in the National Capital Region (NCR) when the Supreme Court banned registration of new diesel vehicles with over two litre engines for an eight-month period starting Dec 2015. The company, at that time, was only selling diesel options.
0 0 965 07 November, 2016 Auto more
Tata Motors’ JLR sells 11% more vehicles in October
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Tata Motors’ JLR sells 11% more vehicles in October

Mumbai: Tata Motors' run Jaguar Land Rover sold 46,325 vehicles in October, up 11% from the same period last year, the Indian carmaker said in a notification to the BSE. "The month's performance has been driven by strong sales of the Land Rover Discovery Sport, Range Rover Evoque, Jaguar XF, and the introduction of the Jaguar F-Pace, as well as strong year-on-year sales growth in China and Europe," the statement said. JLR sold 30% more cars in China, 25% more in Europe and sales in UK and North America were both up 8%. However sales in other overseas markets were down 22%. In the first ten month of 2016, JLR sold 480,349 vehicles, up 23% on the same period last year. Commenting on JLR's October performance Andi Goss, Jaguar Land Rover Group Sales Operations Director, said, "With our most engaging product line up to date we are continuing to see positive sales momentum. Impressive performances across Europe and China have boosted our year-to-date sales to over 480,000 vehicles." While Jaguar recorded best-ever October sales, with retail sales touching 14,402 vehicles, up 93% from last year, Land Rover's sales at 31,923 vehicles was down 6% year-on-year. Jaguar's sales reflected "the strong launch of the F-Pace and the introduction of the long-wheel base XFL in China" while "production of the Defender and Discovery ceased in January 2016 and August 2016, respectively," which was a drag on Land Rover's numbers. The Discover Sport was the best-seller of the month, with the carmaker selling 9,605 units, up 34% from last year.  
0 0 544 07 November, 2016 Auto more
Volkswagen sales up 70% in October
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Volkswagen sales up 70% in October

Mumbai: Volkswagen India sold 5,534 units in the month of October, up 70.02% from the same period last year. In October 2015, VW India had sold 3,255 units, the carmaker said in a statement. Commenting on the sales, Volkswagen Passenger Cars India, Director, Michael Mayer, said, "We are confident in continuing to improve our performance in sales and service, in the coming months along with exciting new products on the anvil." Volkswagen India launched the made-for-India and made-in-India diesel Ameo in the festive season. Volkswagen sells the Ameo, the Polo, the Polo GT, the Cross Polo, the Polo ALLSTAR, the Vento and the Jetta in India. Its product portfolio also includes the Beetle.  
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Ashok Leyland Oct sales jump 28% to 12,533 units 
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Ashok Leyland Oct sales jump 28% to 12,533 units 

Chennai: India's second largest commercial vehicle maker Ashok Leyland reported solid growth in October sales, driven by medium & heavy commercial vehicle (M&HCV) segment. The company sold 12,533 units during the month (the highest sales since March 2016), higher by 28 percent compared with 9,803 units sold in year-ago period. M&HCV sales grew by 33 percent to 9,574 units while light commercial vehicle segment registered a 13 percent growth at 2,959 units on yearly basis. Ashok Leyland beat Nomura estimates that had expected 10.2 percent growth for the month gone by.
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Royal Enfield domestic sales up 33% in October
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Royal Enfield domestic sales up 33% in October

Mumbai: Royal Enfield sold 33% more motorcycles in October 2016 than it did in the same month last year, data released by the Society of Indian Automobile Manufacturers showed. In the month, it sold 59,127 units of Royal Enfields, up from the 44,522 units sold in the same period last year, a 33% rise. Eicher-Motors-led Royal Enfield sold 55,188 units of motorcycles with the engine capacity upto 350cc in the month, up 35% from the same period last year, while it sold 3,939 units of bikes with engine capacity exceeding 350cc, a 6% rise from October 2015. Royal Enfield's exports were up 95%. It shipped 748 motorcycles in October, up from the 384 motorcycles exported in the same period last year, a robust growth of 95%.  
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Honda Navi crosses 50,000 sales mark in six months
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Honda Navi crosses 50,000 sales mark in six months

New Delhi: Honda Motorcycle and Scooter India (HMSI) said its 'by India, for India' bike Navi has crossed 50,000 units sales mark in just six months after launch. The bike was launched at the Auto Expo 2016 in Greater Noida in February. The two-wheeler maker recently introduced a utility box for the convenience of storage to Navi riders. "Navi crosses 50,000 units landmark in just six months of market availability," HMSI said in a statement. It also said that the company has witnessed jump in sales over the years. Celebrating the 28 million customer milestone, HMSI said it has further consolidated HMSI's equity as India's fastest growing auto manufacturer. Keita Muramatsu, President & CEO, HMSI said: "India is the fastest growing economy in the world and one of the most important markets for Honda. With this vision of growth, we have achieved a new milestone for our business in India. The journey to the 28 million milestone has been phenomenal." Further, it said that HMSI is setting the pace of industry with its 24% growth compared to the 13% growth of total two-wheeler industry. The automaker is currently running at full capacity at all its four manufacturing plants. Its total production capacity is 5.8 million units. HMSI has expanded its touch points network to 4,800 plus mark and will be adding another 500 touch points by the end of this fiscal.
0 0 694 30 October, 2016 Auto more
Maruti, Hyundai sell over 45,000 cars on Dhanteras
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Maruti, Hyundai sell over 45,000 cars on Dhanteras

New Delhi: The country's top two carmakers Maruti Suzuki and Hyundai said they sold over 45,000 units on Dhanteras on Saturday. Maruti Suzuki India Ltd's deliveries on Dhanteras is expected to be around 30,000 vehicles, a company official said. "This is around 20 per cent more than last year," the official added. Likewise, Hyundai Motor India Ltd (HMIL) also reported good sales on Dhanteras, considered auspicious for making new purchases. "This Dhanteras, the customers have done heightened purchases with deliveries of 15,153 Hyundai cars, growth of 26 percent over last year," HMIL Senior Vice President Sales and Marketing Rakesh Srivastava told PTI. He further said: "We expect to have 50,000-plus deliveries for the full month, making this festival season as the best in the last couple of years." Good monsoons, better consumer sentiments and 7th Pay Commission award have fuelled demand for automobiles.
0 0 470 29 October, 2016 Auto more
Mahindra launches new platform for vehicle auction
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Mahindra launches new platform for vehicle auction

New Delhi: Mahindra First Choice Wheels Ltd (MFCWL) on Friday announced the launch of a platform that allows buyers to participate in traditional ‘on the ground’ used-car auctions via internet in real-time. The platform, True Time Bids (www.truetimebids.com) will significantly improve efficiency of how vehicle auctions are conducted in India today, the company said in a statement. MFCWL ran a pilot project of True Time Bids with Kotak Bank prior to its launch. MFCWL Senior Vice President of eBusiness B Ganeshkumar said: “The pilot launch of Truetimebids.com with Kotak has been extremely successful and we look forward to taking this platform to all our clients over the next few weeks.” Stating that the platform will fundamentally change the way vehicles are disposed at auctions, he added: “Our clients are continuously looking for higher liquidity and more efficiency in our auction services, and we are pleased to develop and launch India’s first simultaneous online-offline auction platform.” Typically, vehicle auctions are conducted offline while some are also done online to attract non-local bidders. The truetimebids.com platform combines both auction formats into one simultaneous auction event. The launch of True Time Bids is a part of Mahindra First Choice Wheels’ overall aim to organise the used-car space in India and bring legitimacy and transparency to the market, the company added.  
0 0 605 25 October, 2016 Auto, Business Special more
Six Maruti models in top ten list in H1 FY17
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Six Maruti models in top ten list in H1 FY17

New Delhi: Country's largest car maker Maruti Suzuki India continued its hold on the Indian passenger vehicles segment with six of its models featuring in the top ten selling list in the first half of this fiscal, thereby helping the company maintain its market share. According to data from Society of Indian Automobile Manufacturers (SIAM), Maruti Suzuki India's (MSI) entry level car Alto retained its position as the best selling model in April-September period this fiscal with 1,20,720 units, albeit a decline of 7.93% as compared with 1,31,128 units in the year-ago period. The company's hatchback WagonR moved up to the second spot during the period selling 86,939 units as against 84,660 units in the year-ago period, a growth of 2.69%. On the third spot was MSI's compact sedan Dzire selling 81,926 units despite a decline of 20.95% from 1,03,651 units in the same period last fiscal. Maruti Swift was the fourth best selling model in the first six month of 2016-17 with the sale of 80,756 units as against 1,06,911, while Hyundai Motor India's compact hatchback Grand i10 was fifth with 71,703 units sold during the period as compared to 58,078 units a year ago. The South Korean car maker's premium hatchback Elite i20 was sixth best selling model clocking 61,784 units in the April-September period as against 66,037 units in the corresponding period last fiscal. Renault India's entry level car Kwid made it to the seventh position with a massive jump to 56,028 units as compared with just 381 units last year. Maruti's new models -- premium hatchback Baleno with 54,947 and compact SUV Vitara Brezza at 50,859 units were eighth and ninth best selling models, with the list rounded off by Hyundai's SUV Creta at 47,923 units as against 23,117 in April-September 2015-16. With six of its models in top ten best selling list, MSI maintained its share of 47.2% in the domestic passenger vehicles market. The company sold a total of 7,05,287 units in the April-September period this fiscal while the total industry passenger vehicles sales stood at 14,94,039 units. In the same period last year, the company's market share was 47.29% selling 6,28,963 units out of an industry total of 13,29,874 units.  
0 0 512 23 October, 2016 Auto more