R Seshasayee, Executive Vice Chairman of Ashok Leyland, the flagship of the Hinduja Group and India’s second largest commercial vehicle manufacturer, will take on a new role as its Non-Executive Vice Chairman from April 1, 2013.
Asia Motor Works, the Gujarat-based commercial vehicle manufacturer has termed the India Budget 2013 as growth oriented.
India Budget 2013 is pragmatic and growth oriented and has been structured to increase the growth rate of sectors such as infrastructure, power, agriculture and manufacturing, says the head of HR consultancy firm, Randstad.
Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, registered around 5.4 percent growth in sales for the month of February 2013.
Toyota Kirloskar Motor, the Bangalore-based joint venture of Japanese car major, Toyota and Indian Kirloskar Group has posted a sales of 12,756 cars in the domestic market in February this year in contrast with the sales of 16,659 units in the year ago period, showing a decline of 23 percent.
Mahindra & Mahindra Ltd, India’s leading SUV manufacturer, today announced a 11 percent growth in its auto sales which stood at 47,824 units during February 2013 as against 43,087 units during February 2012.
Audi, the German luxury car manufacturer, today announced the availability of its sporty and stylish range of bags at all Audi authorised dealerships across India.
The Chennai-based Renault India, the subsidiary of French auto major, Renault SAS has achieved yet another month of steady growth in February 2013 with a domestic wholesale of 6,723 units as against 673 units sold in the year ago period, logging a nine fold increase year on year.
With the announcement of Indian Finance Minister, P Chidambaram, while presenting the Budget for 2013, announced the excise duty hike on sports utility vehicles and import duty for fully built luxury cars, besides luxury motorcycles more than 800 cc capacity, shattering the dreams of wannabe buyers.
As part of AirAsia’s efforts to make traveling as convenient as possible, the world’s best low cost airline has introduced feature-rich, downloadable travel guides which feature various destinations around the region covered by AirAsia such as Malaysia, Indonesia, the Philippines, Indochina as well as a dedicated guide to the islands and beaches.
The Union Budget 2013-14 is likely to have a minimal impact on the domestic auto sector, considering that excise duties have remained largely unchanged, and macro-economic parameters continue to weigh down sales, says a India Ratings statement.
India Ratings notes that the overall impact of the policy measures announced in the Union Budget 2013-14 is mixed.
In the urban development space, the completion pace of Jawaharlal Nehru National Urban Renewal Mission projects remains tardy.
The Union Budget 2013-14 will benefit government banks through equity infusion and gradual easing in stress on infrastructure loans. However, the continued focus on growth in agriculture credit may keep non-performing loans (NPL) levels elevated.
India Ratings notes the priority accorded in the India Budget 2013-14, to addressing some of the many challenges faced by the infrastructure sector, although the agency recognises that solutions for some of the problems have to necessarily be found outside the framework of the annual budget.
