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Jul 29, 2015

GM to invest $1 billion in India to boost exports

NEW DELHI (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) said on Wednesday it will invest $1 billion over the next few years to turn India into a global export hub, even as it cuts production capacity in the country due to sluggish demand.

The Detroit carmaker, which has the capacity to produce more than 280,000 cars a year in India, will reduce this to 220,000 a year by 2025 as it stops making cars at one plant and modestly raises capacity at its second plant in the country.

Jul 29, 2015

GM to invest $1 billion in India, plans to double market share by 2020

NEW DELHI (Reuters) – General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday.

The investment is part of GM’s plan to invest $5 billion over several years to develop a global family of Chevrolet vehicles with Shanghai Automotive Industry Corp (SAIC), the state-owned Chinese automaker that is GM’s primary partner in China.

Jul 28, 2015

Maruti Suzuki Q1 profit jumps 56 percent; lower costs, higher sales

NEW DELHI (Reuters) – Maruti Suzuki India Ltd(MRTI.NS: Quote, Profile, Research, Stock Buzz), India’s top-selling carmaker, said on Tuesday first-quarter net profit rose 56 percent helped by lower costs, favourable foreign exchange rates and higher sales, but still missed bullish analyst estimates.

Maruti, controlled by Japan’s Suzuki Motor Corp (7269.T: Quote, Profile, Research, Stock Buzz), said profit for the April-June quarter was 11.9 billion rupees ($185.94 million), up from 7.6 billion rupees in the same period a year earlier. Analysts had expected a profit of 12.35 billion rupees, according to Thomson Reuters I/B/E/S.

Jul 28, 2015

India’s Maruti Suzuki 1Q profit jumps 56 pct; lower costs, higher sales

NEW DELHI, July 27 (Reuters) – Maruti Suzuki India Ltd
, India’s top-selling carmaker, said on Tuesday
first-quarter net profit rose 56 percent helped by lower costs,
favourable foreign exchange rates and higher sales, but still
missed bullish analyst estimates.

Maruti, controlled by Japan’s Suzuki Motor Corp,
said profit for the April-June quarter was 11.9 billion rupees
($185.94 million), up from 7.6 billion rupees in the same period
a year earlier. Analysts had expected a profit of 12.35 billion
rupees, according to Thomson Reuters I/B/E/S.

Jul 21, 2015

Hyundai to export India-made Creta to cash in on SUV demand

NEW DELHI (Reuters) – South Korea’s Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) will export its India-made Creta sport-utility vehicle (SUV) to markets elsewhere in Asia and beyond, aiming to tap booming demand for all-terrain cars and boost global sales, a top executive said.

Launching its first SUV in India, Hyundai said it would export the car to markets including Latin America, the Middle East and Africa starting this year, according to Byungkwon Rhim, senior vice president at Hyundai’s international sales division.

Jul 20, 2015

Renault mulls Iran launch for low-cost small crossover

NEW DELHI, July 20 (Reuters) – Carmaker Renault is
weighing moves to introduce a variant of its new Indian-built
Kwid mini-crossover to Iran, a senior executive told Reuters on
Monday.

The model has already drawn interest from potential Iranian
partners, said Gerard Detourbet, the Renault-Nissan
alliance vice-president who developed the Kwid’s new low-cost
architecture.

Jul 15, 2015

Luxury Maserati sports cars to go on sale in India again

NEW DELHI, July 15 (Reuters) – Italian carmaker Fiat
Chrysler is set to starting selling luxury Maserati
cars in India again nearly three years after troubles with its
former partner in the country forced it to pull out temporarily.

Fiat Chrysler Chief Executive Sergio Marchionne is pursuing
ambitious sales targets for Maserati and other brands under a
turnaround plan outlined last year. A big push into Asia is key
for the company to achieve its target of selling 75,000
Maseratis each year by 2018.

Jul 8, 2015

Honda India CEO to increase local content in cars, improve quality

NEW DELHI, July 8 (Reuters) – Increasing the local content
in cars and improving the quality of its supply chain will be a
priority for Honda Motor Co in India, the new chief
executive of the Japanese carmaker’s local unit told Reuters on
Wednesday.

The carmaker will work to reduce costs by using more local
components and it will focus on improving the quality of
logistics, manufacturing and dealerships before launching new
models, according to Katsushi Inoue, CEO, Honda Cars India Ltd.

Jul 1, 2015

Fiat Chrysler to start Jeep production in India from 2017

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.

Jun 23, 2015

Volkswagen to play catch-up in India with feature-rich subcompact

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.

    • About Aditi

      "Aditi writes about automobiles and real estate in India, working out of the New Delhi bureau. She joined the Reuters company news team in 2011 after spending nearly four years in London writing for a property magazine. Aditi is passionate about travel, has a growing interest in photography, and ends up buying more books than she will ever read."
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