Reliance refinery becomes first refinery to produce BS-IV compliant diesel

Mukesh Ambani-owned Reliance Industries Limited (RIL) has become the first Indian refinery to produce BS-IV compliant diesel and according to Business Standard, the first cargo of 25,000 tonnes of Euro-IV grade diesel from RIL's refinery at Jamnagar was shipped by Hindustan Petroleum Corporation Ltd (HPCL) on Friday, quoting an unidentified source.

 

It is to be mentioned that Reliance Industries Limited  is India's largest private sector conglomerate (by market value) , with an annual turnover of US$ 35.9 billion and profit of US$ 4.85 billion for the fiscal year ending in March 2008 making it one of India's private sector Fortune Global 500 companies, being ranked at 206th position (2008). It was founded by the Indian industrialist Dhirubhai Ambani in 1966.

 

Though the company's oil-related operations form the core of its business, it has diversified its operations in recent years. After severe differences between the founder's two sons, Mukesh Ambani and Anil Ambani, the group was divided between them in 2006. In September 2008, Reliance Industries was the only Indian firm featured in the Forbes's list of 'world's 100 most respected companies'.

 

 

Bajaj Auto granted 'ExhausTEC' Patent in Europe

Bajaj Auto's unique invention named 'ExhausTEC' significantly improves low range / mid range torque in a single cylinder four stroke engine. Bajaj's patented DTS-i twin spark technology and ExhausTEC together deliver unbeatable "fuel efficiency + performance" combination to its customers.

 

This European patent derives priority from the corresponding Indian patent application dated August 6, 2004 and is valid till August 5, 2024.

 

It may be recalled that the Indian Patent Office had granted the "ExhausTEC" patent to Bajaj in March 2009. The European grant awarded now after a stringent examination, is a solid reaffirmation.

 

Bajaj is in an enviable position of being the only automotive manufacturer to offer a unique package of two path breaking technologies in a motorcycle to its customers – "DTS-i" that delivers superior performance (higher power output with better fuel efficiency) compared to conventional four stroke engines and "ExhausTEC" that offers improved low end and mid range torque – a duo that delivers competitive edge to Bajaj of high performance and fuel efficiency amidst today's motorcycling world that is increasingly dominated by products offering mere improvements of prevalent technologies.

 

 

A sedan now on Honda small car platform?

Taking a cue from companies like Maruti Suzuki, Tata Motors, Toyota Kirloskar, Fiat et al, India's premium carmaker is reportedly working on a two-pronged strategy to have both sedan and hatchback versions for its car. It was reported pretty earlier Honda Siel Cars India Ltd. which had recently unveiled the Honda New Small Concept, a concept model for a new small-sized vehicle, at the Auto Expo 2010 in New Delhi, has said that the car's production version will be priced below Rs. 5 lakh and will have nearly 80 per cent local content.

  

Now if Business Standard is to be believed, Honda Motor Company is planning a sedan on the same platform of the new mass-market compact car which it intends to launch in India in a little more than a year. 

 

Fumihiko Ike, chief operating officer of regional operations, Asia Oceania, Honda Motor Company, was quoted as saying to the aforesaid business daily, "There will be multiple models coming out of the small car platform after its launch in 2011. We will explore a sedan, too, using the same platform to make maximum use of our resources."

  

However, a senior official of the company, when contacted denied any such development. The representative said, "Such stories are merely speculative and the company is just focusing on rolling out the small car. Plans for a sedan version is not on the drawing board of the company yet." 

 

HSCI also announced plans to begin sales of a new 5-seater hatchback model in 2011 based on this concept model. In order to keep costs low, Honda would also focus on localisation which means India could end up being a key sourcing base for supply of parts to other countries where the car will be launched. Indications are that Brazil, Russia and parts of Europe could be on the radar. The model, which had been entirely developed in Japan, will be manufactured at Honda's Greater Noida facility from next year. Honda has another plant in Rajasthan which produces body panels and engine components. This could well be home to the small car should there be a need for added capacity, as revealed by a senior representative of Honda Siel earlier.

Korean President visits Hyundai Motor factory at Chennai

The visiting President of Korea, H.E. Lee Myung-bak, and the First Lady Kim Yoon-ok visited Hyundai Motor India factory in Sriperumbudur, Tamil Nadu. Mr Chung Mong-Koo Chairman & CEO, Hyundai-Kia Motor Group, was also present on the occasion.

The President visited Chennai on the sidelines of his State visit to New Delhi, as the Chief Guest of the Republic Day Parade, 2010.

The President and the First Lady visited the factory premises and interacted with the employees. The President also felicitated Mr. Venu Srinivasan, Honorary Consul General of the Republic of Korea, Chennai, for his continuous efforts in fostering greater Indo-Korean relationships.

Speaking on the occasion, Mr H W Park, MD, HMIL, said, "It is an honour for us to host the President and the First Lady at the Hyundai factory in Chennai today. His visit is full of symbolism with the East Asian region undergoing economic and structural changes. We are extremely proud of his presence here, and his kind words of encouragement have raised the morale of the management at HMIL."

The visit of the Korean President is a testimonial of the fact that India's economic integration into East Asian economies is growing at a fast pace. Korea's CEPA with India is the first free trade agreement with a member of the fast growing BRIC (Brazil, Russia, India and China) nations. For India also, it is the first such agreement with a member state of the Organization for Economic Cooperation and Development (OECD).

His Excellency Lee Myung-bak is the 17th President of the Republic of Korea. He is a graduate of Business administration from the prestigious Korea University, and was one of the youngest CEOs to head Hyundai Engineering and Construction. His rich and varied experience reaches across many continents, from the Middle East to the Far East, Southeast Asia, Russia, Europe and South America.

Volkswagen Polo Cup India to begin from June 19

Volkswagen India has announced the commencement of Polo Cup India from 19th June 2010. This is the 1st season of the Polo Cup in India. Volkswagen India has also launched the official website dedicated to the Polo Cup India 2010 which is available at http://www.polocup.in/.

The Polo Cup India will celebrate its world debut in the 2010 JK National Championship and will have six races in total. Polo Cup India's first race of the season on June 19th June 2010 will be followed by races each month until December. The prelude will probably be a race in Pune, the hometown of Volkswagen India. The other five races will happen on the race courses in Chennai and Coimbatore. 

Joerg Mueller, Volkswagen Group Chief Representative India, said, "This is a very significant move by Volkswagen in India. We are glad that we are contributing to the development of a unique Indian motor sports culture. Volkswagen's motor sports activities are renowned globally and we look forward to bringing our knowledge and expertise in this direction to India."

Volkswagen had announced their entry into Indian motor sports in October last year with the signing of the Letter of Intent with JK Tyre & Industries Limited to bring the globally acclaimed Volkswagen Polo Cup to India in year 2010. At its Indian debut the new Polo Cup India will present itself with a record field of contenders. 20 firmly registered young drivers aged 16 to 24 will meet on the track in cars with identical technology that are centrally tuned and maintained by highly skilled Volkswagen India Factory mechanics.

"The Race Polo meets high demands. It has to assure first-class safety standards, deliver dynamic handling properties and prove its robustness even in turbulent races," emphasizes Volkswagen India Motorsport head, Prithviraj Siddappa. "For young talented Indians it is the first stepping stone into world of professional motor racing."

The young talents contesting the popular Volkswagen one-make cup are perfectly prepared for moving up into higher motor sport categories. The Polo Cup car is the Volkswagen Polo with the 1.6 l Diesel engine and 130 hp. In the history of Indian motor sports this is the first time when a Diesel engine car is used as a racing car. Volkswagen Motorsport is the pioneer of Diesel engine race cars and is the first to introduce the same in India.

To ensure maximum equality of opportunity, the cars are centrally prepared in the Volkswagen Factory at Pune by highly trained race mechanics. Thanks to professional data logging and analysis the talented youngsters have the chance to check their own performances, compare them with those of other drivers, and to efficiently improve. In addition to technical training courses, the coaching programme, which includes an introduction into data analysis, classes on tyres focused on the JK tyres used in the cup as well as setup work, encompasses media training, a fitness camp and a pre-season basic training course at which the young racers work on fine-tuning their skills for the new season.

Bharat Forge Q3 2009-10 net profit skyrockets 760 per cent to Rs. 37.99 crore

India's leading auto component maker, Bharat Forge Limited has reported a rise of over 760 per cent in its net profit to Rs. 37.99 crore (Rs 4.35 crore) for the quarter ended December 31, 2009.  BFL's ales have increased at 11 per cent to Rs. 518.43 crore, vis-à-vis Rs. 459.36 crore in the corresponding period last year.

On the back of favourable market conditions in India & signs of demand revival in the export markets, stand-alone revenue & EBIDTA for Q3 reached Rs. 517.0 crore and Rs. 128.3 crore respectively, a sequential growth of 19.2 per cent in revenue & 18.4 per cent in EBITDA. On a YoY basis, standalone revenue & EBITDA increased by 11.4 per cent and 28.6 per cent respectively.

On a sequential basis, domestic revenues grew by 10.5 per cent to Rs. 308.0 crore while export revenues grew by 34.3 per cent to Rs. 199.8 crore. EBITDA margins were maintained around the 25 per cent range in Q3 FY10. PBT before exceptional item grew by 101.3 per cent on a YoY basis to Rs. 60.6 crore while PAT grew by 763.6 per cent to Rs. 38 crore. 

On the non-auto front, BFL has started to witness significant traction globally and especially within India and has won several new orders in thermal power, nuclear power, oil & gas and rail sector. 

Commenting on the results of the company B.N. Kalyani, chairman & managing director said, "We are starting to see significant improvement in our performance & new order flows in our thrust areas on the non auto front." He added, "The performance will further gain momentum going forward with the ramp up in the non auto capacity, revival in the export market and turnaround of our overseas subsidiaries."

CEAT clocks Rs. 24 crore net profit during Q3 2009-10

RPG Group's flagship company CEAT Ltd., reported a net profit of Rs 24 crore in the third quarter ending 30th December, 2009,  vis-à-vis a net loss of Rs.22 crore in the corresponding period last year. The tyrenaker's net sales shot up by 27 per cent to Rs. 740 crore during Q3 FY 2009-10. 

Announcing the results, Paras K. Chowdhary, MD, CEAT Ltd. said, "Despite a steep hike in raw material prices, we have managed good numbers because of improved sales mix and operational efficiency. We are hopeful of posting our best ever results in the current year." 

CEAT Tyres, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India's leading tyre manufacturers and has a strong presence in both domestic & international markets. The company manufactures over 10 million tyres every year and enjoys a major market share in the light truck & truck tyre market.  CEAT tyres, tubes and flaps are renowned for their superior quality and durability.  CEAT offers the widest range of tyres to all user segments and manufacture world-class radials for all Indian vehicles including: heavy-duty trucks and buses, light commercial vehicles, earthmovers, forklifts, tractors, trailers, cars, motorcycles and scooters, auto-rickshaws.

Volkswagen Quick Start Modular 3S Dealership gets going in Raipur

Volkswagen India  has recently inaugurated India's first 'Quick Start Modular 3S Dealership' in Raipur, Chhattisgarh. Volkswagen Raipur will be the company's first 3S facility in the state of Chhattisgarh. This unique concept is a mobile deployment, including dismounting and relocation, enabling the showroom to create fast sales and service facility. The entire facility takes 3 weeks for foundation and 3 weeks for assembly at the location. The 8 module dealership features 3 cars on showroom display, parts storage facility, 4 workshop bays, service and sales office, customer & driver lounge , social room for employees and lavatories.

The container showroom of Volkswagen Raipur will offer premium buying experience to its customers, at par with the Volkswagen's global standards of sales and services. The showroom is also equipped with state-of-the-art service facility well-equipped with tools and equipment capable of servicing 10 cars per day. The launch of this unique showroom comes at a time when Volkswagen is ready to start sales of its premium hatchback the new Polo from March this year.

Commenting on Volkswagen's dealer network strategy Neeraj Garg, Member of the Board & Director, Volkswagen Passenger Cars said "Our partnership with Volkswagen Raipur reiterates Volkswagen's strong focus on widening our presence across key markets and supporting our customers with prompt and efficient services.  We are confident that our partnerships will be major milestones for our expansion plans in India."

He further added "Raipur is the first city where we have introduced our 'Quick Start 3S Modular' concept. This is a unique, one of its kind initiative, by any automobile manufacturer in India to enhance our sales turnover. This is definitely another milestone for us in the country."

Volkswagen has already established 40 dealerships across key cities in the country.

According to Radhey Shyam Aggarwal, Dealer Principal, Volkswagen Raipur, "We are pleased to partner with Volkswagen and look forward to building strong relationships with our premium customers here. We are confident of providing Volkswagen's global standards of experience to our customers as all other Volkswagen international dealership".

As with every other Volkswagen dealership, Volkswagen Raipur has been provided intense training in management of sales, service, spare parts and business systems to assure customers of the best-in-class pre and post sales ownership experience.

The expansion is in line with Volkswagen India's strategy to establish its presence across India to not only expand its base of Passat, Jetta, New Beetle and Touareg owners but also drive in its first hatchback-the new Polo to a wider consumer base.

Oxford Nissan is Nissan Motor's new dealer in Pune

In an endeavour to achieve maximum customer outreach Nissan Motor India Pvt. Ltd (NMIPL) has opened its 8th dealer in the country. With the inauguration of Oxford Nissan, Nissan Motor India Pvt. Ltd (NMIPL) follows its plans of expanding its network of authorized dealers. More than expanding the number of sales outlets, the company has reaffirmed its commitment to offer its high quality service standards to guarantee consumer satisfaction. 

The dealership in Pune also marks the automotive major's ability to reach commercial coverage in more than 42 per cent of the national territory. Currently, 7 states of the country have Nissan dealerships. 

In the process of establishing the Nissan Brand in India, NMIPL - in partnership with Hover Automotive India, its marketing, sales, after-sales service and dealer development arm - is rapidly preparing its dealer network structure to support the up-coming growth in the country. 

This new dealership located at Near Sus over bridge, off Mumbai – Bangalore Highway, Baner, Pune 411045 is directed by Rohan Seolekar. This facility is spread over 3208 square meters of serviceable area to cater to customer's need of quick and better service. Customer can see, touch, and feel the product in a comfortable ambience. Oxford Nissan's sales consultant and service team are trained personally by Hover and Nissan to ensure a high level of customer satisfaction. 

The line of vehicle offered by NMIPL is Nissan Teana, Nissan X-Trail and recently launched Nissan 370Z. The company is expected to close the fiscal year with approximately 300 unit sales. 

Toyota Kirloskar Motor signs MoU with State Bank of India

Toyota Kirloskar Motor (TKM) has signed a MoU with the State Bank of India to provide auto retail financing to their prospective customers. The State Bank of India will be one of the preferred financiers for the entire range of vehicles marketed by Toyota Kirloskar Motor Private Limited (TKM) in India.
 
The agreement was signed by Sandeep Singh, DMD of Toyota Kirloskar Motor Private Limited (TKM), and P. Nanda Kumaran, chief general manager, State Bank of India Personal Banking Business Unit in Mumbai in the presence of Anup Banerji, DMD & Group Executive (NBG) of SBI and Mr. H. Nakagawa, managing director of TKM.  Among those present on the occasion were the officials of both SBI and Toyota Kirloskar Motor Private Limited (TKM).

The MOU aims at targeting high end customers who will be availing car loans from SBI above Rs. 5 lakh onwards. SBI has come out with a special scheme called SBI Advantage Car Loan Scheme for this niche segment. This scheme is applicable to individuals – Salaried, Professionals, Self employed, Businessmen and Proprietary /Partnership firms, who are income tax assesses and whose income/net profit or gross taxable income is Rs.2.50 lakh and above. This scheme will be implemented in all RACPCs, all PBBs, all District Head Quarter Branches, Project area branches and Branches specially authorised by AGM (Region). Maximum loan amount will be 48 times of NMI or 4 times of NAI.

Maruti Suzuki Q3 2009-10 triples to Rs. 687.53 crore

Maruti Suzuki India has reported a three-fold jump in its net profit at Rs. 687.53 crore in the third quarter of the current financial year ending December 31, 2009, as compared to Rs. 214 crore in the corresponding period last year.  India's largest passenger carmaker posted a net sales of Rs. 7,333.77 crore for the December quarter, up 62.51 per cent from Rs. 4,512.64 crore in the same period previous fiscal, while its vehicle sales were at 2,18,910 units, up 37.8 per cent from the same quarter a year ago.

In the October–December 2009 quarter, favourable conditions in the domestic market supported by the government's stimulus package and ease of automobile finance helped achieve good sales. Commodity prices were favorable for a major part of the last quarter but started to harden in the last few weeks.

During the quarter, exports, led by the A-star, continued to be strong. The scrappage schemes offered by some European governments, an appreciating Euro and efforts in the non-European markets resulted in the growth in exports

The company also said it will invest Rs 1,700 crore to expand the production capacity at its Manesar plant by 2.5 lakh units annually by 2012. It is to be mentioned that Maruti Suzuki currently has a capability to manufacturer a million units at its existing facilities at Gurgaon (0.7 million) and Manesar (0.3 million).

The company has also stated that it remains cautiously optimistic about sale volumes in the current quarter. Maruti has claimed that the margins would be under pressure due to introduction of BS-IV technology in the large volume models and hardening of commodity prices and the focus on cost reduction and Kaizen in operations continues.