Dongfeng Honda to build second auto plant in China

Dongfeng Honda Automobile, an automobile production and sales joint venture of Honda in China, announced plans to build a second automobile production plant in order to meet continued growing demand in the Chinese market.

To build the second plant, the company is planning to acquire one million square meters of land, approximately four kilometer northeast of the existing plant, within the Wuhan, Hubei Province, Economic and Technological Development Area where the first plant is based. The new plant is scheduled to become operational in the latter half of 2012 with annual production capacity of 60,000 units. The company envisions the future expansion of production capacity to 240,000 units. The initial investment will be approximately 1.15 billion R.M.B. (approximately 15.4 billion yen*).

Dongfeng Honda's new plant will accommodate production processes including welding, painting and assembly and is expected to be an advanced plant utilizing production technologies refined at the existing plant, as well as adopting new environmental technologies. In fact, this plant will be the first Honda production plant to generate a portion of the electricity used for production processes from solar panels, which is expected to lead to a reduction of CO2 emissions by approximately 500 tons a year. In addition, the new plant will strive to achieve a significant reduction of CO2 through other measures such as utilization of natural light and waste heat.

Prior to building the second plant, Dongfeng Honda is planning to expand annual production capacity of its existing plant from the current 200,000 units to 240,000 units in early 2010. When the second plant begins production, Dongfeng Honda will have a combined annual production capacity of 300,000 units. In addition, flexible production between the two plants will enable Dongfeng Honda to better fulfill the ever diversifying needs of customers in China.

Dongfeng Honda has been producing the CR-V since April 2004, the Civic since 2006 and the Spirior since August 2009. The company's sales results have continued strong, with 2009 sales of 211,000 units, up 28.2% compared to 2008, achieving a record high for a fifth consecutive year.

When Dongfeng Honda's second plant begins production, Honda's overall annual automobile production capacity in China will reach 710,000 units -- 300,000 units at Dongfeng Honda; 360,000 units at Guangzhou Honda; and 50,000 units at Honda Automobile (China), an export automobile production joint venture.

Asia Motor Works introduces heavy duty 3118 haulage truck

Asia Motor Works Ltd. (AMW) introduced its new 3118 haulage truck for heavy-duty, long distance applications in the Indian transport sector. The latest addition to AMW's product range was unveiled to a large gathering of customers, truck drivers and guests. The 3118 is ideally suited for transporting steel, oil, cement and is also intended for port applications and general market load. The 3118 fulfils the critical requirement of a high performance, robust vehicle suitable for on-road applications. It has been specially designed to offer the maximum cost-per-tonne performance combined with convenience, safety and comfort features that are the best in class in the industry.  

AMW's 3118 haulage truck is fitted with a Cummins 180BHP diesel engine that delivers increased power and a flat torque curve on a larger band of rpm for excellent fuel efficiency. The gear shift comes with closely packed gear ratios leads to longer life of transmission and reduced maintenance costs, besides the advantage of grade ability.  The bogie suspension renders increased suspension life, superior drive comfort for enhanced driver productivity and increased tyre life.  

The vehicle offers an optimum payload which translates into better economies of scale and higher profitability. The robust chassis construction is ideally suited for the tough Indian road conditions. The suspended cab design makes it easy to access the entire drive line. The trend setting ready-to-use" air-conditioned cabin, aimed to enhance driver productivity, is available in the 3118.  The vehicle comes with crash proof cabins contributing to safe and efficient driving.   

Speaking at the function, Anirudh Bhuwalka, CEO and managing director, Asia Motor Works said, "At AMW we endeavor to provide best-in-class modern vehicles that symbolize product innovation, style, comfort and profitability to our customers.  We believe that the 3118 haulage vehicle is a truly global product from our stable lending itself to numerous on-road applications thereby making it an ideal solution to the demanding transportation segment.  Our Mobile Service Vans located every 200 km and a 2 hour call away, will be an added service differentiator to the on-road 3118.  Backed by innovation and service, the 3118 will drive our product portfolio and ensure significant increase in our ever growing market share."  
AMW has constantly delivered quality products - from heavy trucks to specialized application vehicles. AMW's all India network of dealers authorized service centers are well positioned to provide sales, 24X7 service and spare part support to customers anywhere in India.  

It is to be mentioned that AMW was founded in 2002 and has made a mark in niche segments of the medium and heavy commercial vehicle industry and its vehicles are manufactured at its sprawling 600-acre complex in Bhuj Gujarat. Its 4923 was declared 'Truck of the Year' by NDTV in January 2008. AMW's product portfolio includes its best seller, the 4923 Tractor - India's First vehicle in this segment, 4018 and 4023 Tractors, 2523 Rock & Box body Tipper, 2518 Tipper, Transit Mixer and haulage vehicles. AMW has a network of over 40 dealers, 132 service stations and 450 authorized service centers across India

Ashley Alteams inaugurates new manufacturing facility in Chennai

Ashok Leyland's associate company, Ashley Alteams India has announced the inauguration will of its new manufacturing facility at Chennai in Tamil Nadu. The new plant, which will be involved in the production of die castings, will cater to both the telecommunications and automotive sector both for domestic and international markets. 

 

 It is to be mentioned that AAIPL is a joint venture that was formed in 2007 between Finland's Alteam Group and Ashok Leyland, which is owned by the Hinduja Automotive Ltd (HML). Alteam is a major telecommunication component supplier to Nokia. Tamil Nadu deputy chief minister, Dr. M. K. Stalin along with Ms. Suvi Linden, Minister of Communications, Government of Finland, inaugurated the manufacturing facility yesterday. Alteams OY is one of the largest light cast metal components manufacturers. The project entailed an initial investment of Rs 130 crore and the unit will gave the capacity of 70,000 tonnes per annum which will be enhanced to 10,000 tonnes progressively. The initial capacity is estimated to generate annual sales of Rs. 180 crore and it is expected to touch Rs 500 crore in five years with capacity expansion and value addition. AAIPL employs 135 skilled personnel that will grow to 200 by March 2011, along with 250 outsourced employees.

"HDPC technology is increasingly finding favour with the automotive and telecom industries, due to its high quality, weight efficiency and economy of higher volumes.  With these industries on a growth path, we are advantageously placed to meet their requirements quickly and efficiently," said Mr. R. Seshasayee, Chairman, Ashley Alteams India Pvt Ltd. "There is a huge potential for exports which we shall start to tap in our second year of operation," he added.  

"The new business will cater to the strong demand for high pressure die castings in the telecommunication industry and also for the automotive industry," says Dheeraj Hinduja, co-chairman of Ashok Leyland. "There is a huge potential for exports which we shall start to tap in our second year of operation," he added.

Petteri Wallden from Alteams OY said, "After having established a significant presence in Europe and China, the next big move was to enter the robustly growing Indian telecom market. With a partner like Ashok Leyland, we are well-equipped to capitalise upon the opportunities offered by both the telecom and the automotive sectors in India."

Ashley Alteams is part funded by Finnfund, set up by the Finnish government to fund Finnish business projects outside of Finland. Technical assistance will be provided by Alteams Oy, pioneers in the field of aluminum die casting, which includes core technologies like die design, manufacturing, selection of high-end fully automatic casting, CNC machining cells and testing facilities.  Some of AAIPL's key customers include Ashok Leyland, Knorr Bremse, Cummins in the automobile segment, Nokia Siemens networks, Ericsson in the telecom field and EMS suppliers like Sanmina and Elcoteq. 
 

TVS Motor Q3 2009-10 revenues up 25.4 per cent to Rs. 1,089.45 crore

Spurred by the continual growth in sales, TVS Motor Company continued to sustain its growth quotient in the third quarter, reporting an increase of 25.4 per cent in revenue growth. The company recorded notable growth registering revenues of Rs.1089.45 crore for the quarter ended December 2009 in comparison to Rs. 868.71 crore recorded during corresponding quarter in the previous year.

Profit Before Tax (PBT) during the quarter under review stood at Rs. 25.40 crore when compared to Rs.0.04 crore recorded in the comparable period of the previous year. The cumulative PBT for nine months ended 31st December 2009 is significantly higher at Rs. 69.58 crore compared to Rs. 23.96 crore of PBT achieved for nine months ended 31 st December 2008.

During the end of the current quarter, exports began to show signs of recovery and complemented domestic sales of the company which contributed significantly towards growth. Total two-wheeler sales grew at 21.7 per cent in the third quarter of the current fiscal registering 3.72 lakh units when compared with 3.06 lakh units in the corresponding period of the previous year. Motorcycles sales stood at 1.51 lakh units in comparison to 1.44 lakh units over the corresponding period of the previous year registering a growth of 4.6 per cent. Scooters grew 31.9 per cent registering sales of 0.76 lakh units against 0.57 lakh units during the corresponding quarter of the previous year.

Two wheeler exports registered sales of 0.44 lakh units for the quarter ended December 2009 against 0.55 lakh units during the comparable period of the previous year.

For the quarter ended December 2009, three wheeler sales stood at 3,225 units in comparison to 956 units registering growth of more than 200 per cent over the corresponding quarter of the previous year.

During the quarter, TVS Motor Company unveiled two unique products - India's first auto-clutch motorcycle and an automatic scooter. TVS Jive, India's first auto-clutch motorcycle, is propelled by a 110 cc engine which features innovative T-Matic technology which features a rotary gear technology coupled with an automatic clutch. One of the major features of this motorcycle is the absence of the clutch lever, making riding on this motorcycle a hands free gear shift experience. The bike therefore can be ridden by almost anyone who has a sense of balance as there is no need for manual clutch-gear co-ordination while shifting. Another unique feature of this motorcycle is its anti-stall mechanism which makes smooth riding possible at low speeds even in high gears, without the engine shutting off. This is not possible in motorcycles with the regular clutch system. The downward rotary gear system enables the rider to reach neutral straight from top gear. However, it is not necessary that the bike has to be in neutral while starting. The bike can be started in any gear and is fitted with an electric start for convenience.

TVS WEGO, the multi-user, family-friendly and sleek metal bodied scooter that strikes a perfect balance between stability and maneuverability, power and mileage, and sturdiness and ease making it a delight to ride for any category of users; men and women, young and old. The all aluminum low-friction engine ensures best-in-class mileage. Multi-reflector halogen headlamps and LED tail lamp with optical guides give the scooter dynamic styling better described as urban dynamism.

The quarter also saw the Twin Spark Plug TVS "FLAME" motorcycle being re-launched, after obtaining all necessary permissions and clearances in accordance with law. This executive segment motorcycle, is the only motorcycle in the country to have a unique combination of three valves and two spark plugs.

In accordance with its business plan, the company expanded its three-wheeler footprint to New Delhi and the NCR, West Bengal and Karnataka having launched the TVS King in versions that conform to regulations of those governments. TVS King is a futuristic product designed for today's cities having a good combination of power, comfort, mileage and style.

Hyundai, Tata, and M&M follow Maruti in hiking prices of its vehicles

Close on the heels of passenger car market leader Maruti Suzuki India Ltd (MSIL) jacking up the prices of its models, its competitors like Hyundai Motor India Ltd (HMIL), Mahindra and Mahindra, Tata Motors, GM India have followed suit. The reason cited by all the companies is one i.e. rising input costs.

Hyundai Motor India Limited, on 20th January'09, has announced that it will go for a price hike of  1 to 1.5 per cent across all models ranging from the Santro to the Sonata with effect from February 1. The maximum hike will be up to Rs 9,000. When asked specific-price hikes per model, company officials declined comment saying that the model-wise increase would only be clear by next month when the hike is effective. HMIL sells models, including hatchbacks Santro, i10, i20 and sedans Accent, Verna and Sonata Transform. HMIL has said that it is also expecting an increase in product prices around March, when it introduces the new Bharat Stage- IV compliant petrol and diesel engines across all its models.

According to HMIL director (Sales and Marketing) Arvind Saxena: "The hike in car prises was necessitated due to the rising input costs, especially that of commodities like steel."

General Motors India (GMI) vice-president P. Balendran had announced an increase in prices of the company's models by two to three per cent from January first week to offset rising input costs.

Likewise, Tata Motors has raised the price ranging from Rs. 5,000-8,000 on Indica and Indigo models. Utility vehicle maker Mahindra and Mahindra has also raised the prices of its Sport Utility Vehicle Scorpio between Rs 6,400 and Rs 9,300. While its Utility Vehicle Xylo has become costlier by Rs 4,600, Bolero sees Rs 4,800 hike. The price rise on Tata Motors and Mahindra and Mahindra automobiles will be applicable on new 2010 models.

"Primary reason for hike, which is across all our vehicles, is the rise in prices of the inputs required to make vehicles," said Arun Malhotra, senior VP, Automotive Sector, Mahindra and Mahindra told Economic Times.

Ironically, Honda Siel is taking a detour. Even though the appreciating yen has resulted in a significant drop in most of its models, the company's dealers are doling out huge discounts for its super-premium hatchback-Jazz.It must be remembered that the Jazz has been a non starter as fas sales are concerned primarily for its high priced label.

Media reports claim that Honda dealers are said to be offering discounts of up to Rs 40,000 on the car, along with low interest rates (less than 6 per cent) on loans. According to available figures, Honda Siel produced more than 1,000 units of the Jazz in December 2009, while less than 300 units of the car were sold during that month. Now, in a bid to push sales.

Skoda Fabia sports and road versions on the cards

On the sidelines of inaugurating its boutique showroom in Mumbai, Skoda Auto India also hinted that a new line-up within the Fabia range which would include a sports variant as well as "rough-road" version, tentatively known as 'Scout' was on the cards.  There is also a lot of buzz that the sports version would be Skoda Fabia Sportline, will have newly-designed interiors and alloy wheels. The company sold 16,000 cars in the Indian market in 2009 and is targeting to cross the 20,000-mark in 2010, with Fabia accounting for a significant chunk of the overall pie.

"We will launch multiple variants of the Skoda Fabia to leverage on its popularity and consolidate our brand in the Indian market." Skoda's head (sales and marketing) Thomas Kuehl told reporters in Kolkata.

In a bid to reinforce its sizeable presence in the D-segment cars sold in the country, Skoda Auto India is also evaluating the possibility of launching an upgraded version of its Octavia model in the next few years. It has also been learnt that the refreshed model would be finetuned to make it more India-specific. It is believed that the Indian arm of the Czech automaker is considering building the car on a new platform from its existing Chakan facility near Pune in Maharashtra in the next quarters. However, at this juncture, the company has not revealed any details like specifications, pricing and versions.

Skoda India is also venturing into the sports utility vehicle (SUV) segment with the launch of its Yeti model in the second half of 2010, expected to be priced around Rs 13-17 lakh.  The Premium carmaker is also quite upbeat on its boutique showrooms to increase brand awareness and bring customers closer to the brand. Skoda has around 25 per cent market share in the mid-size segment of cars in India and is pinning its hopes on a stronger brand recall to add incremental market-share in the next 3-5 years.

 

Audi India wins seven prestigious Auto Awards

Audi, the German luxury car manufacturer, has bagged seven prestigious awards at the annual honours hosted by the automotive media fraternity in India. Audi Q5 won the maximum recognition for Audi India with a total of four awards.  

The highly successful luxury SUV Audi Q5 won accolades from India's leading automotive media houses. It bagged the prestigious 'Golden Steering Wheel Award for SUV (Import) 2010' from Auto Bild India, the "Import SUV of the Year 2010" from Overdrive CNBC TV18, "Premium SUV of the Year" from NDTV Profit Car India & Bike India Awards and 'Luxury SUV of the Year' from Bloomberg UTV AutoCar India. 

The super sports car Audi R8 was crowned the Sports Car (Import) 2010 at the internationally acclaimed Golden Steering Wheel Awards hosted by Auto Bild for the first time in India, while Brand Audi was adjudged as Auto India's Best Brand for Quality and Best Brand for Advanced Technology (for the 2nd consecutive year).  

 Commenting on the achievement, managing director of Audi India, Benoit Tiers said, "These accolades are an acknowledgement of the success and acceptance our cars enjoy with discerning customers and reviewers alike. The crowning glory of course is the recognition we have received in the form of the Best Brand awards for Advanced Technology and Quality which is an affirmation of our commitment to technological excellence and a validation of the success of our core philosophy 'Vorsprung durch Technik'. It is a great honour for Audi to be awarded by such veterans from the Indian automobile industry and this recognition will spur us to set new benchmarks going ahead."

Audi India posted an impressive 58 percent growth in India in 2009, thereby successfully exceeding its projected sales targets for the second consecutive year. Audi India's vehicle sales volume in 2009 grew to 1,658 cars as compared to 1,050 units in 2008. Despite the challenging market conditions prevalent in the last quarter, Audi India sales grew by 19 percent to 325 units compared to 273 units in 2008. Sales figures for the month of December 2009 stood at 108 cars, thereby registering a growth of 42 percent (76 cars in December 2008).

The entire Audi model range, comprising the Audi A4, the new Audi A6, the Audi A8, the Audi Q5, the new Audi Q7, the Audi TT and the super sports car Audi R8 is available at eight showrooms across the country: in Gurgaon, Chandigarh, Mumbai, Pune, Ahmedabad, Bangalore, Hyderabad, and Kochi. New showroom openings in the beginning of 2010 include Kolkata, Delhi, Mumbai (West), Jaipur, Chennai and Ludhiana. Further developments include Lucknow, Coimbatore and Nagpur.

General Motors India to use third shift at its Halol plant by 2011

General Motors India is looking to kick off a third shift at the Halol plant near Ahmedabad to cater to the additional production requirement after the launch of a light commercial vehicle (LCV) in 2011-end.

 

It was reported earlier that General Motors India, along with its joint venture partner Shanghai Automotive Industries Corporation (SAIC), will start selling LCVs by the end of next year and passenger cars and multi-utility vehicles from SAIC's portfolio by 2012. The company will make additional investments at the Halol plant in Gujarat, which currently operates in two shifts. In commercial vehicle space, GM India is looking at three versions. They are the small vans, pick-up vans and multi-purpose vehicles from the SAIC product line up and would be in the one-tonne category. It is to be mentioned that in China, GM manufactures passenger cars with SAIC, including the Buick and Chevrolet brands. 

"We get a choice of separate products now from our joint venture in China with SAIC. We shall pick up LCVs from that portfolio and bring in three varieties of these vehicles to India at Halol," Slym said on the sidelines of Chevrolet Beat in Kolkata. He added, "Our facility at Halol, that has a capacity of 85,000 units, is capable of producing LCVs, for which we are planning to start manufacturing in 2011. It's very exciting as its going to be a whole new segment for us to begin with here." He also mentioned, "The one-tonne trucks will be made at the Halol plant, which will continue to manufacture GM's current portfolio of passenger cars, too. We have a flexible production line and the Halol plant will be able to produce both the LCVs and the current passenger cars," as revealed by Slym, adding, "Introduction of LCVs will open new avenues for the local suppliers too as we aim to localise 90 per cent of the manufacturing." 

When a newspaper reporter queried as to how much headcount will the third shift generate, Slym said, "The Gujarat based facility of GM at Halol started operating in two shifts in December last (2009). Currently, we have 1,350 people working at the Halol facility that includes non-production staff as well. Roughly, 500 people could be added when a third shift will be started. As for the investment, we plan to make some modifications at the plant. We will also invest in tooling and equipment. But, we are yet to arrive at exact figures." 

Responding to questions on the negative perception in the market over Chinese products, Slym said they still have nearly two years before any products come. He pointed to the successful image makeover by Japanese and Korean brands to overcome negative perceptions, indicating that GM expects something similar for Chinese goods. 

Incidentally, media reports also claim that GM will look at exporting the excess capacity to Asia Pacific region after the plant commences production. The source said that selling engines to a third party and developing engines for Shanghai Automotive Industries Corporation's (SAIC) light commercial vehicles, are options that the company will consider once the plant is commissioned.

Jia Auto is Skoda Auto India's first boutique showroom in Kolkata

Close to the heels of opening its boutique showrrom in Mumbai, Skoda Auto India officially inaugurated its first boutique showroom in Kolkata, Jia Auto Sales Pvt. Ltd. Skoda Auto India further boosted its customer support network in the city by opening another dealership, again by Jia Auto.

The exclusive boutique was inaugurated by Thomas Kuehl, Board Member, Sales and Marketing, SkodaAuto India and Amit Kumar Modi, Dealer Principal, Jia Auto Sales Pvt. Ltd. Located at Chowringhee Road, Kolkata's premier shopping destination, the boutique showroom is spread across an area of 2,000 sq ft, this is Skoda's first boutique showroom in the city. This boutique showroom in Kolkata is exceptional in terms of the design concept, and is a unique blend of lifestyle and contemporary ambience bringing the customer closer to the brand.

Speaking at the inauguration, Thomas Kuehl, Board Member, Sales and Marketing, Skoda Auto India said, "The boutique showroom concept echoes Skoda's philosophy to provide not just quality cars but also a quality ownership experience to our customers. This concept is a step to bring Skoda customers closer to the brand by providing them with a stylish and high level of functionality with 'Customer touch Points' in the high street areas of the metropoles where our customers can have easy access to all the information around the automotive and the Skoda world. With Jia Auto Sales, we will set new standards in customer service and move a step closer to our patrons in the city. We plan to have 15 boutique showrooms in tier 1 and tier 2 cities across India by the end of December 2010."

Promoting a distinctive automotive retail experience, the boutique showrooms will provide a platform for sneak previews of our upcoming models and Skoda fans no longer have to wait for the Auto Shows to see some of the latest cars from Skoda. The boutique showrooms will also cater as an automobile education centre for children, students & enthusiasts through interactive gatherings.

The showroom will also offer the Skoda merchandise collection, a complete range of high quality and exclusive Skoda-branded products. Currently on display are fashion accessories, kit cars and car accessories.

Later in the day, Skoda Auto India further augmented their customer connect network in Kolkata by opening a dealership facility at Judges Court Road. The dealership, also a facility of Jia Auto Sales, was inaugurated by Mr. Thomas Kuehl, Board Member, Sales and Marketing, SkodaAuto India and Mr. Amit Kumar Modi, Dealer Principal, Jia Auto Sales Pvt Ltd.

Commenting on the dealership opening Thomas Kuehl, Board Member, Sales and Marketing, Skoda Auto India said, "We have always received an overwhelming response from our Kolkata customers and we are confident that Jia Auto will play a vital role in strengthening our dealer base and continue to enhance the Skoda Customer Care experience. Our expansion strategy is to create a strong authorized dealer network in India to support our growing sales in the region." 

The facility is built on an area of 4,050 sq ft and can service 25 cars per day. Skoda's newest dealership meets the company's global quality standards and layout specifications, promising customers of Kolkata a premium buying and ownership experience. 

Currently Skoda Auto India has 3 dealerships in West Bengal. SkodaAuto's dealership footprint spreads across 65 outlets and covers 50 cities & towns in India. The company continues to expand their and service network to meet local demand and has set a target of reaching 75 dealerships by this year-end.

Mahindra Auto & 2 Wheeler products win top awards

Mahindra & Mahindra, one of India's leading auto companies has bagged a kitty full of awards and accolades this season.The Mahindra XYLO, India's first 'Sedan Plus' vehicle scored a hatrick as it received no less than three awards from the automotive media. These include MUV of the Year from the NDTV Profit Car and Bike Awards, UV of the Year from the CNBC TV 18 Overdrive Awards and MPV of the Year from the Zigwheels Car and Bike Awards.

The recently launched Mahindra Duro Power Scooter was declared the Scooter of the Year by NDTV Profit Car and Bike Awards.

Mahindra & Mahindra also received the Auto Bild India Golden Steering Wheel for Technology of the Year for its path-breaking FuelSmart system with Micro Hybrid technology. This technological innovation developed by the Mahindra Research & Development team with the support of BOSCH, is not only environment-friendly but also fuel efficient and very affordable.

"We are absolutely delighted to receive these awards from some of the most revered publications in the automotive media. Both the Mahindra XYLO and the Mahindra Duro have proved themselves within a few months of their launch and these awards are a clear validation of their success. This sweeping victory across products is also testimony to the Mahindra Group's focus on customer-centricity and technology which are key elements that go into development of every product," said Dr. Pawan Goenka, president, Automotive Sector, Mahindra & Mahindra Ltd.

The NDTV Profit Car and Bike Awards, the CNBC TV 18 Overdrive Awards and the Zigwheels Car and Bike Awards are some of the most prestigious awards in the Indian automotive firmament. Research conducted by a third party is the basis of winners' selection. Various parameters are taken into consideration at the time of selection by an eminent panel comprising industry stalwarts from the sector and allied industries, as well as media who have been tracking the sector for a while.

JK Tyre Q3 2009-10 net profit up at Rs 36.40 crore

JK Tyre and Industries has announced that its Q3 FY 2009-10 net profit stood at Rs 36.50 crore vis-à-vis a loss of Rs 27.40 crore in the corresponding period last year. The company's net sales for the third quarter of FY10 stood at Rs 802 crore, while its operating profit was at Rs. 97 crore. The company's net sales for the three quarters (April-December period) stood at Rs 2,644 crore, while profit after tax was reported at Rs 197 crore.  

Commenting on the performance, Dr. Raghupati Singhania, vice-chairman & Managing Director said, "JK Tyre has recorded an impressive performance in the third quarter of the current year on account of   cost reduction measures and better operating efficiencies.  As a result, Operating Profit margin has improved.  Our expansions of OTR tyre and radials shall be completed as per schedule by the end of March this year.  The greenfield site project for further increasing the TBR capacity   from 8 lakh tyre to 12 lakh tyres and  25 lakh tyres for Passenger Car Radials is  progressing well. Financial closure is expected very shortly".  

Dr. Singhania further added, "Automobile sector in India has recorded very impressive growth in the last 3 Quarters. This is leading to acceleration in demand for tyres".    

The company's 100 per cent subsidiary – Tornel, Mexico  - a well established tyre company, with 3 manufacturing  plants has done well in the year 2009 and turned profitable.  This fast turn around has been achieved despite the melt down in global markets particularly the Americas. 

The company expects demand for tyres to remain buoyant. With the completion of company's expansion projects, the company looks to promising times ahead. 

Volvo Cars announces 2010 growth plans for the Indian market

Towards strengthening its existing foothold in India, Paul de Voijs, Managing Director, Volvo Auto India, has announced 2010 growth plans for his Indian presence. Speaking to the media he said, "India is the next growth destination in the Asia Pacific region and Volvo Cars is committed to be a part of this growth. In keeping with our strategy until now we have concentrated on laying a strong foundation for our brand. Our mantra for 2010 will be to strengthen our presence in the country. Our goal is to become a trusted automobile luxury brand in the Indian market."  

"We want to include more passion and life and we want to do so more clearly. We have wonderfully well-designed cars that integrate good performance, exciting innovation and fresh communication. At the same time, we are in the lead in our pro-environmental work and in the field of innovative safety."   

Volvo registered a 49 percent growth in 2009 and remains bullish to sustain the momentum this year. The company has aggressive plans to expand its product portfolio and spread out its dealer network across the country.   

Starting with the launch of the all new diesel Volvo S80 with twin turbo technology and the much awaited Volvo XC60 with the revolutionary 'City Safety' technology in the first half this year, the company also plans to introduce Volvo S60 post its Global launch.   

On the dealership front Volvo plans to expand the current dealership base by additional 3-4 dealers targeting cities such as Bangalore, Jaipur, Ludhiana, Goa and Kolkata. Its existing operational dealerships are in Delhi, Mumbai, Kochi, Chennai, Hyderabad, Pune and Chandigarh.  

"Going forward we will focus on creating a more powerful, modern and at the same time warmer image of the brand. Safety has always been a cornerstone of the company philosophy. The next step would be to continue to maintain and strengthen that with a holistic approach towards innovative technology," De Voijs further added. 

Volvo Auto India is a new operator in India, a fast-growing market and one of the most competitive in the world. Volvo established a presence in India just over two years ago and has since then worked intensively to market the Swedish brand. With a corporate office in Gurgaon, Volvo Auto India opened its first dealership in March 2008 and currently market's its products through its dealerships in New Delhi, Mumbai, Chandigarh, Hyderabad, Kochi, Pune and Chennai.