Delhi-based automobile company Argentum Motors, which has taken over the erstwhile Daewoo Motors plant in Surajpur (UP) to start contract manufacturing business in India, has announced the acquisition of French automaker Heuliez SA with an investment of e25 million for an initial 60% stake.
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Economic Times

Oil minister Murli Deora is to seek answers from heads of state-owned oil marketing companies on Wednesday on reports of diesel shortages and resultant long queues at petrol pumps in Maharashtra, Gujarat, Bihar, Jharkhand and Madhya Pradesh.
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Times of India

Honda is planning to change the rules of the sedan game with the launch of its next-generation City, the most popular mid-size car in India. The new City-2008, loaded with a host of jazzy features, will hit the market by mid-September. Sources, however, say that the new avatar will be pricier than the current version.
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Economic Times

Mahindra and Mahindra (M&M) and Chrysler are embroiled in a dispute over the front grill design and shape of the Scorpio. Chrysler alleges that M&M copied the design from its automobile marquee Jeep. There is speculation that Chrysler could initiate legal action against M&M.
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Economic Times

The signs of slowdown in the economy are getting stronger. After car sales fell 1.7% in July, the first quarter figure of industry's performance revealed another gloomy picture.
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Times of India

Leaders of the global automotive industry will gather here to discuss the future of the sector at the annual convention of the Society of Indian Automobile Manufacturer (SIAM) to be held here in September.

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Economic Times

Auto industry veteran BVR Subbu’s Altius Autoworld’s new venture has run into a roadblock as current FDI norms don’t allow multi-brand retailing. Altius, a company co-founded by Mr Subbu’s Argentum Motors, had formed a JV with Japan’s Gulliver International to service high-end luxury cars and commercial vehicles through a multi-brand retail outlet. The JV aimed at servicing luxury cars and commercial vehicles after they exhausted their manufacturers’ warranty.
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Economic Times

General Motors is now training its sights on India’s rural consumers. The US car major is pumping in big money to set up a massive dealer network to push its popular makes—Tavera, Spark and UVA.
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Economic Times

It’s the segment worst stung by the mood swing in the auto industry. The mid-size market—considered the next big growth pie in the industry till just a year ago—has rolled in one of its worst performance in recent times, with every model, except the newly-launched Dzire and Indigo CS, showing negative growth....

Economic Times

Vehicle makers are stepping up lending to consumers to boost flagging demand for motorbikes, cars and trucks, but the rush to offer funding poses risks for firms in an environment of rising interest rates.
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Economic Times