Search Result for : General Motors

The Dollar Business Bureau Most popular car manufacturer in India, Maruti Suzuki India Ltd has become the largest exporter of passenger cars from the country in the first half of the current fiscal, replacing Hyundai Motor India Ltd. During the period April-September of the ongoing fiscal, Maruti Suzuki shipped 57,300 units of passenger cars, an increase of 6% compared to 54,008 units exported in the same period a year earlier, as per the recent data by apex industry body Society of Indian Automobile Manufacturers (SIAM). The number one exporter for a long time, Hyundai Motor India Ltd exported 44,585 units of passenger cars, witnessing a steep drop of 29.25% compared to 63,014 units shipped in the same period a year ago. The company ...

The Dollar Business Bureau The Royal Enfield’s maker in India, Eicher Motors is bidding $1.8 billion-$2 billion for the Italian motorcycle manufacturer Ducati, according to a Reuters India news on Thursday. This led to the shares of Eicher Motors spiraling to a record high. Eicher Motors is the only Asian company in the auction, finalising the terms with advisers before the bidding deadline at the end of September, the media agency reported. German carmaker Volkswagen(VW) is also considering options for Ducati, including a sale of the brand, wholly controlled by VW's Audi division. But internal rifts and resistance from the German trade unions, have put the company’s plans on hold. It should be recalled that Reuters had reported earlier that Hero Motor Corp ...

The Dollar Business Bureau American auto manufacturer General Motors (GM) on Thursday said that it has decided to end selling of vehicles in India because there was no improvement in its fortunes in the country after a struggle of more than two decades for making a mark in the Indian market. The auto major will now only emphasise on exporting vehicles from its plant at Talegaon in Pune (Maharashtra), after the production was stopped last month at its first plant at Halol in the state of Gujarat. The decision, to stop selling vehicles in India, follows a comprehensive assessment of future plans for products by GM India and is a part of several actions taken by the company in ...

The Dollar Business Bureau  UK’s Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, said on Friday that he was ‘reassured’ by American multinational General Motors Company’s (GM) plans for its interests in Europe, including the UK’s Vauxhall, amidst talk of taking over by French car maker PSA Group.  “There is some way to go in discussions between GM and PSA but I was reassured by GM’s intention, communicated to me, to build on the success of these operations rather than rationalise them,” the Secretary said in a statement.  Recently, GM had made considerable investments at its Luton and Ellesmere Port plants, he said.  Clark spoke after a meeting with the President of GM, Dan Ammann in London, when it emerged that ...

The Dollar Business Bureau Toyota sold nearly 10.175 million vehicles across the world in 2016, less than Volkswagen’s 10.31 million auto sales in the same year. This year is particularly rewarding for Volkswagen after annual sales of 9.93 million cars in 2015. The German automaker considered this achievement a milestone recovery, after downfall of the company’s reputation due to the controversial emission scandal. Growth of Volkswagen sales in China was a major boosting factor for its sales in the past year. Volkswagen is on the verge of attaining the top position in global sales for the first time, lest, General Motors (GM) takes over in the last one week that remains. GM has its manufacturing units in 37 countries. It produces its vehicles under 12 ...

The Dollar Business Bureau Probably never in the political history of the United States has a President caused such ripples in the economic environment even before being sworn in.  Walmart and General Motors, in tandem with the new stance adopted by US Presidency on aggressive job creation in the manufacturing sector, have both announced robust investments and job creation in the USA in 2017. GM proposed an additional $1 billion investment over and above the already announced figure of $2.6 billion in 2016. The dominant automobile player plans to create 7000 new jobs in the US over the next two to three years. This net number includes IT jobs it's going to bring back home from overseas, 450 jobs in the axle production and 1,500 jobs that ...

The Dollar Business Bureau  Trump's tweet has yet again sent shock waves through the auto industry with its threat to penalise Toyota with 'big border tax' if it opens a new manufacturing facility in Mexico. "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build in U.S. or pay big border tax," Trump tweeted on 5 Jan 2017. Trying to deliver on his promise to bring back manufacturing jobs to America, Trump has often used his twitter account to target multiple automobile and prevent them from moving production facilities out of the US. His attempts at meddling with the economy (even before assuming the title of POTUS) have also been rewarded earlier in Ford's ...

The Dollar Business Bureau   General Motors India is planning to double is exports to touch 50,000 units this year from 21,000 units last year. With a capacity of 1.3 lakh vehicles, its Talegaon facility in Maharashtra will become its export hub in India. More than 30% of the manufactured units from here will be exported to the other countries. It has launched the first left-hand drive Chevrolet Beat for export to Argentina on Monday. GM India has first exported its cars from India to Chile in September 2014. It has dispatched 3,000 Chevrolet Beat cars to Mexico in October 2015. The left-hand drive Chevrolet Beat is also exported to Chile, Peru, Uruguay and Central American and Caribbean Countries (CAC). Now Argentina has ...