Japanese tire manufacturer Yokohama Rubber is investing $82m to expand passenger car tire production capacity in India. The company is looking to increase its annual production capacity from 2.8 million to 4.5 million tires to meet the growing demand from India’s expanding automobile market. The new capacity will be installed at the Visakhapatnam Plant in the eastern part of India,[Read More…]
The industry produced a total 21,820,072 vehicles including passenger vehicles, commercial vehicles, three-wheelers and two-wheelers in April-February 2016 as against 21,460,837 in April-February 2015, registering a marginal growth of 1.67% over the same period last year. In April-February 2016, overall automobile exports grew by 1.56%. Passenger Vehicles, Commercial Vehicles, three-wheelers and two-wheelers registered a growth of 3.14%, 17.66%, 3.01% and[Read More…]
We would like to take this opportunity to announce that as of November 2, 2012, Yazaki Corporation has agreed to purchase all the company shares of Tata Yazaki Autocomp Limited (TYA), its Indian wire harness manufacturing and sales joint venture company. The 50:50 joint venture between Yazaki Corporation and Tata Autocomp Systems Limited was established in 1997 for the manufacturing[Read More…]
Mitsubishi Electric Corporation announced today that its new Mexican subsidiary, Mitsubishi Electric Automotive de Mexico, S.A. de C.V., commenced automotive parts manufacturing and sales operations in October. The new base in Mexico, where car production is thriving, will put Mitsubishi Electric in a better position to expand its auto parts business in the Americas. The company aims to achieve annual[Read More…]
As part of its continued plan to expand its global engineering and manufacturing footprint, the Canadian auto components major Magna International Inc. has announced the establishment of two new facilities in the Sanand in Gujarat. While the new plants reflect business awards for vehicle programs built off global-platforms, they also help position Magna for further growth in India as vehicle production expands.[Read More…]
Nissan,on 25 July, announced the appointment of Antonio Zara, currently Managing Director, International Sales of General Motors Korea, as President and Managing Director of Nissan Philippines, Inc. (NPI), effective August 1, 2014. (Zara’s official inauguration will be after the Board of Directors Meeting in August.) Zara, a Filipino national, brings extensive automotive experience in sales, service, and marketing to[Read More…]
J Srikant Trailing the revenue trajectory of the auto industry, the auto component industry too recorded its first revenue de-growth in over a decade, falling by 2.1% in the financial year 2013-14. Auto Component Manufacturers Association (ACMA) today reported that the component industry has recorded a revenue of Rs 2,11,700 crore in FY 2013-14 as compared to Rs 2,16,000[Read More…]
Steering Systems manufacturer Sona Koyo Steering Systems Limited has witnessed increase in net sales by 7.2% to Rs 281.9 crore for the quarter ended 31 March 2014 against Rs 262.9 crore reported during the preceding quarter ended December,2013. Profit after Tax for the quarter is Rs 10.6 crore against Rs 36.9 crore (including exceptional item on account of sale of[Read More…]
Hero MotoCorp Limited (HMCL), the world’s largest two-wheeler manufacturer, has reported record sales for the fourth quarter (January-March 2014). Riding on its highest-ever quarterly sales of 15,89,462 units of two-wheeler for the period, the company’s total turnover (Net Sales & other Operating Income) in the quarter grew to Rs 6512.96 crore, a growth of 6% over Rs 6145.75 crore recorded[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…]
