Motherson Sumi Systems Limited (MSSL) has signed an agreement to acquire the Wiring harness business of Stoneridge Inc. through asset purchase at transaction value of US $ 65.7 million. This acquisition is expected to close in the third quarter of 2014, subject to customary closing conditions. The acquired business has a turnover of approx. USD 300 Million. The transaction includes[Read More…]
Industrial and automotive battery major Amara Raja Batteries Limited today announced annual revenue of Rs 34.37 billion (excluding other income) with a growth of 16% in financial year 2013-14 as compared to Rs 29.59 billion in FY13. The profit after tax stood at Rs 3.67 billion, recording a growth of 28% as against Rs 2.87 billion of the previous year.[Read More…]
Buoyed by the success of Celerio, car market leader Maruti Suzuki India Limited introduced Celerio Green, the CNG powered Celerio recently. Priced at Rs.4.68 Lakh (Ex-showroom, Delhi), the Celerio Green is available on the VXi trim (Manual Transmission). Powered by the factory fitted iGPI technology (intelligent Gas Port Injection) the Bi-fuel Celerio Green delivers best-in-class fuel efficiency of 31.79 km/kg[Read More…]
The popular Mechanics Challenge will again take place at the 2015 edition of Automechanika Kuala Lumpur which will be held 19 – 21 March 2015 at Kuala Lumpur Convention Centre, Kuala Lumpur, Malaysia. The challenge is open to all Malaysian mechanics employed by independent workshops and the grand final will take place during Automechanika Kuala Lumpur. It is organised by[Read More…]
General Motors India today announced that it will begin production of export vehicles at its Talegaon Plant in the second half of 2014, with sales commencing in Chile in the first quarter of 2015. Its first export model will be the left-hand-drive version of the Chevrolet Beat. The fuel-efficient smart city car is already built and sold in many markets[Read More…]
Optare, Ashok Leyland’s subsidiary in the UK, launched the MetroDecker, its exciting new double decker bus in London on Wednesday. Designed and built at a state-of-the-art assembly facility in Leeds, the MetroDecker leverages Optare’s extensive experience and engineering capabilities and boasts exceptional build-quality, comfort and optimised operational efficiency. The stylish new MetroDecker shares a common platform with its single deck[Read More…]
Motherson Sumi Systems Limited (MSSL), the flagship company of the Samvardhana Motherson Group, has achieved consolidated revenues of USS $ 5 billions for the year 2013-14, one year ahead of target for Vision 2015. The consolidated sales went up by 20%, PBT by 84% and PAT by 72% for the full FY 2013-14. For the fourth quarter of Q4 FY[Read More…]
Rane Group, one of India’s leading auto component manufacturer, today announced merger of Kar Mobiles Limited (KML) with Rane Engine Valve Limited (REVL) effective 1st April 2014. The board of directors of both the companies approved the merger in their respective meetings held today. The exchange ratio will be 7 shares of REVL for every 10 shares of KML. The[Read More…]
Daimler India Commercial Vehicles (DICV), a 100% wholly owned subsidiary of Daimler AG, Stuttgart, Germany along with Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC), a Daimler Company, launched its robust DICV-made trucks in Zimbabwe, making it the 4th African market since the start of export in May 2013. As a part of the first 15 export markets for DICV under[Read More…]
MAY 2014 Subscription Form Online Subscription Bold Step We have been hearing bold statements for more than a month now from politicians across the country targeting elections. While the statements are bold, deeds may certainly not be as expected. There seems to be light at the end of the tunnel, after two straight years of slowdown in the auto industry.[Read More…]
