NEW DELHI (Reuters) – Fiat Chrysler (FCHA.MI: Quote, Profile, Research, Stock Buzz) will invest $280 million to begin Jeep production in India from 2017 through an expanded joint venture with Tata Motors (TAMO.NS: Quote, Profile, Research, Stock Buzz), the carmaker said on Wednesday.
Fiat Chrysler Chief Executive Sergio Marchionne is pursuing ambitious sales targets for Jeep and other group brands under a turnaround plan outlined last year.
NEW DELHI (Reuters) – Germany’s Volkswagen AG, Europe’s biggest automaker, is betting that the launch of a feature-rich subcompact in India next year will build on its mere 2 percent market share and drive expansion in the quick-growing emerging market.
The new car will fall in the small but burgeoning segment for vehicles shorter than 4 metres, to take advantage of tax breaks, and come with perks usually reserved for high-end models, such as dual airbags and automatic gear shift.
NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi led tens of thousands of people in a yoga session in the center of the capital on Sunday to showcase the country’s signature cultural export, which has prompted criticism of fomenting social divisions at home.
The ancient Hindu discipline which has become an estimated $27 billion industry in the United States is being celebrated across the world as an International Yoga Day which Modi pushed for soon after taking power last year.
NEW DELHI, May 28 (Reuters) – Iconic motorbike maker Royal
Enfield, owned by India’s Eicher Motors, is planning
to push into Latin America and Southeast Asian markets to boost
profits, CEO Siddhartha Lal told Reuters on Thursday.
The company, which makes the cult Bullet bike and is one of
the world’s oldest bike manufacturers, already exports its
middleweight motorcycles to countries in these regions, but it
now plans to boost local sales networks there and could even
consider setting up production units in the future, said Lal.
NEW DELHI (Reuters) – Weak demand for sleek Jaguars in China battered the profits of its parent Tata Motors, pushing its shares down 5 percent on Wednesday and showing the car maker lacked agility in a market where the appetite for brash luxury has ebbed.
Tata’s net profit for the fourth quarter, published late on Tuesday, fell a worse-than-expected 56 percent, and India’s largest car maker by revenue also held back dividends for the first time since 2002.
MUMBAI/NEW DELHI, May 26 (Reuters) – Tata Motors Ltd
, India’s biggest automaker by revenue, reported a
surprise 56 percent drop in quarterly net profit on Tuesday, hit
by cooling demand for its sleek Jaguar saloons and sporty Range
Rovers in the key Chinese market.
The company said it expected mixed economic conditions in
China, the world’s largest auto market, and other emerging
economies to weigh on EBITDA margins for the fiscal year that
started on April 1 compared with a year ago.
NEW DELHI/MUMBAI, May 19 (Reuters) – As India’s auto
industry matures, manufacturers are facing up to a new reality -
from Mumbai to the provinces, they now have two different
markets to serve, with costs to shoulder and a challenge to
sales and profits.
In big cities, rising incomes and aspirations mean buyers
want compact models with features absent from the bare-boned
minis that first bridged the gap from two-wheeled motorbike
transport to four-wheeled cars. Automatic transmission, extra
luggage space and daring colours are objects of desire.
NEW DELHI, May 14 (Reuters) – India’s state-run National
Buildings Construction Corp (NBCC) is betting on the
redevelopment of millions of square feet of vacant government
property as it plans to grow its $3.4 billion order book by 25
percent a year to 2020.
That is roughly twice the rate of growth over the last few
years, Anoop Kumar Mittal, chairman and managing director, told
NEW DELHI, May 6 (Reuters) – The Indian arm of Japanese
automaker Honda Motor Co plans to invest 17.75 billion
rupees ($280 million) this financial year to bolster its
two-wheeler operations, a top company official said on
Honda Motorcycle & Scooter India (HMSI) will invest the
money in expanding and upgrading its production capacity and
launching new products to meet growing demand for two-wheelers,
president and chief executive officer Keita Muramatsu said.
NEW DELHI/MUMBAI (Reuters) – Future Retail Ltd (FURE.NS: Quote, Profile, Research) has agreed to acquire most of local conglomerate Bharti Enterprises’ shares in its retail business to create one of India’s biggest retail chains with more than 570 stores across the country.
Under the all-stock deal valued at about 7.5 billion rupees ($118 million), the retail operations of Future Retail and Bharti Retail will be merged to create a new company.