High interest rates combined with inflation and fuel prices have finally started telling on the sales of the biggies in the auto industry. Top carmakers Maruti Suzuki India and Hyundai Motors saw their sales in July stagnate while Mahindra and Mahindra witnessed a decline. Two wheeler companies, however, performed better with Hero Honda leading the growth.

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Hindustan Times

Mahindra & Mahindra Ltd is set to launch a small pickup truck next year in the United States under its flagship brand as it looks to boost business in the world's largest vehicle market. Mahindra, which already sells tractors to US farmers and has three local assembly plants, is also in talks with General Motors Corp about possibly buying its Hummer SUV brand, according to sources familiar with the matter.
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Economic Times

When Tata Motors, India's top bus and truck and former locomotive maker, unveiled its first car, the Indica hatchback, 10 years ago, a chorus of detractors said they could not pull off the transition. More than 1 million Indica cars later, Tata Motors has just completed the purchase of the luxury Jaguar and Land Rover brands and will soon launch the world's cheapest car, the Nano.

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Economic Times

Mahindra & Mahindra’s proposed acquisition of the assets of Kinetic Motor Company (KMCL) will not require an open offer to minority shareholders of KMCL.
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Economic Times

Toyota Motor Corp, which plans to roll out a small car in India from 2010, may tap affiliate mini-vehicle maker Daihatsu Motor to help reach its target of 10 per cent of the Indian market, a newspaper reported on Friday.
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Economic Times

Renault has invited India's Bajaj Auto Ltd to join a $1 billion manufacturing alliance with partner Nissan Motor Co, media reports stated on Thursday, citing unnamed industry sources.
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Escorts Ltd sees a dip in tractor sales for its current fiscal ending September on reluctance of banks to lend and on recent price hikes on back of rising raw material costs, its joint managing director said.
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Economic Times

A day after RBI tightened the monetary policy, the country's automobile industry, already facing a rough ride, said it will suffer more and may possibly go through a severe slowdown, mainly in the small car segment.
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Economic Times

World oil prices eased in Asian trading on Wednesday ahead of a weekly US report on energy stockpiles expected to reinforce worries over slackening demand, analysts said....

Economic Times

UK-based electric vehicle maker Ultra Motor Company today launched a high-range electric scooter, Marathon, priced at Rs 31,047 (ex-showroom Kochi) in India, which it claims would travel 100 km on a single charge.

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Economic Times