The current slowdown has proved to be a blessing in disguise for the used-car industry. Auto sales have been plummeting thanks to the cred
it crunch and demand slump. However, if there is one segment that has gained from the present scenario, it is the second-hand car market, which has grown by over 30% this year.
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Economic Times

Slackening demand for commercial vehicles (CVs) has forced Ashok Leyland (ALL), the Hinduja Group flagship, to cut its working to three days
a week until next month. In a tacit acknowledgement that the global slowdown is creeping in on Indian corporates, the company said on Thursday: “In the last few weeks, the medium and heavy-duty commercial vehicles market has been facing problems of inadequate funding and high-interest costs. As a result, market demand has come down.”
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Economic Times

The slowdown is beginning to hit foreign investments in the automobile sector with top MNC vehicle makers in “review” mode. According
to the auto industry sources, big-ticket investors like Honda and Volkswagen are reportedly “reviewing” their earlier stated investment plans and production schedules.
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Economic Times

Tata Motors has unveiled two new passenger vehicles and a one-ton pickup at the ongoing Johannesburg International Motor Show as it con
tinues to strengthen its position in South Africa.
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Economic Times

Auto major Mahindra and Mahindra (M&M) Friday said it would launch a multi-utility vehicle (MUV) within the next two months.

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Economic Times

Tata Motors is investigating the possibility of manufacturing buses at a plant near Pretoria with kits brought in from its Indian opera
tions, says Tata Africa managing director Raman Dhawan.
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Economic Times

Japan's Suzuki Motor Corp issued its first-ever profit warning on Friday, predicting a 33 percent drop in operating profit this business year
as the worst financial crisis in 80 years pulls down even the healthiest automakers.

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Economic Times

A potential merger between General Motors Corp and Chrysler LLC could result in the closing of at least four more of the No. 3 U.S automake
r's factories while 16 of its vehicle models were at risk of being eliminated, according to a study by Grant Thornton.
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Economic Times

Tractor major Mahindra & Mahindra on Thursday said that its shareholders have approved the amalgamation of Punjab Tractors with itself.


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Economic Times

Ashok Piramal group company, PMP Components, on Wednesday announced the acquisition of Czech Republic-based PAL International which would giv
e it a 7 per cent share in the European market.

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Economic Times