Mahindra Ingenio will be called Xylo
Mahindra & Mahindra Ltd. (M&M), India's leader in utility vehicles, today announced that it would unveil the all new Mahindra XYLO (Zy-lo) in the current quarter. The Mahindra XYLO is the brand name for Project Ingenio developed in-house by Mahindra post the success of the Scorpio.
The much awaited Mahindra XYLO has been co-created with customers for developing a vehicle around the lifestyle and luxury aspirations of its end customer. This is further testimony to Mahindra's customer centric vision of co-creating products and services based on the feedback and latent needs of its consumers.
Mr. Anand Mahindra, Vice-Chairman and Managing Director, Mahindra Group, said "We are all set to create a new milestone with the launch of the Mahindra XYLO which will continue Mahindra's legacy of customer-centric innovation. I am confident that the XYLO will follow in the Scorpio's footsteps and evolve into an iconic brand."
Dr. Pawan Goenka - President Automotive Sector M&M said, "XYLO has been developed by a Project team consisting of 160 experts who have created new benchmarks in terms of styling, technology and performance. The team deployed the ReFinE methodology aimed at creating emotional surplus. Mahindra XYLO, extensively tested and validated for Real World usage in India and many other countries, is sure to delight the Customer's 'Senses'.
Mr. Rajesh Jejurikar, Chief of Operations, Mahindra and Mahindra Ltd., added, "The brand name XYLO is trendy and contemporary, implies luxury, high fashion, technology and creates a futuristic connect."
[via: press]
TVS Motor Q2 revenues up by 23.2%
TVS Motor Company has reported a 23.2% increase in its revenues for the July-September quarter, FY2008-09, at Rs 1,034 crore, compared to Rs 839 crore in the corresponding quarter of the previous year.
Despite increasing input costs, the lack of availability of retail finance and a general downturn in the economic scenario, TVS posted profit before tax of Rs 13.9 crore and profit after tax of Rs 10.4 crore, compared to Rs 16.9 crore and Rs 11.9 crore in Q2, FY2007-08 (which had the benefit of Rs 10.2 crore (net) on account of exceptional items.)
TVS also recorded a growth in its two-wheeler sales, with 181,000 bikes being sold in Q2, compared with 144,000 units sold in Q2 last year. TVS scooters clocked sales of 77,000 units, compared to 76,000 units sold in the corresponding period last year. The company reached a significant milestone in July this year, when it reached the two-million mark in the sales of the TVS Scooty.
TVS exported 55,000 two-wheelers in Q2, an increase of more than 50% over the corresponding period last year. The company now exports its two-wheelers to more than 54 countries worldwide.
[Via: indiaautomotive]
New Ford Ikon TDCi launch on November 5…!!
Ford is going to launch the new Ikon TDCi on November 5. It would come with facelifted front and spruced up interiors. A kink in the headlamps, redesigned aggressive front bumper and reshaped bonnet would give the ikon a modern look. Tail lamp cluster also gets refreshed.
While the change inside the ikon will be limited to instrument cluster. With the facelift, new ikon will also get a new heart - 1.4 Diesel. New Ikon TDCi gets the1.4L turbocharged diesel which also powers the fiesta. High pressure common rail diesel engine pumps out 68PS of maximum power at 4000rpm and 160Nm of maximum torque.
Chevrolet India aiming for market share of 10% by 2010
From its current market share of less around 4%, General Motors India (GMI) wants to go up to a market share of 10% by 2010. 'Despite the sluggish growth of the Indian automotive industry at 6-6.5% due to the economic downturn, we are looking at growth of 20% this calendar year, with sales of about 80,000 units,' says P Balendran, Director and Vice-president (Corporate Affairs), GMI.
'By the end of this year, GMI will have around 195 sales points and service outlets each, up from the present 145 sales points and 148 service outlets,' said Balendran. Also, as we first reported back in June this year, GMI is working on the development of CNG- and LPG-powered variants of some of its cars.
'We are looking at CNG and LPG vehicles for India and are closely working with our regional partners in Thailand [for CNG] and Korea [for LPG] in this connection,' says Ravi Desai, Director - Vehicles Integration, GMI. Desai added that GMI is also working on its biodiesel programme and has bought 80 hectares of land in Gujarat for Jatropha cultivation.
[Via: indiaautomotive]
Ashok Leyland may reduce production, cut number of working days
In view of the sluggish demand for commercial vehicles, Ashok Leyland Ltd. is considering the possibility of cutting down on production and reducing the number of working days by one or two days per week. The company is not, however, planning any lay-offs.
Ashok Leyland is considering the possibility of a reduction in working days to deal with the twin problems of power shortage in Tamil Nadu and a slump in the demand for trucks. Wage cuts could accompany the reduction in the number of working days, for which ALL management will work out a deal with labour union officials.
According to industry experts and analysts, the demand for medium and heavy commercial vehicles in India will continue to decline by 5-10 percent in 2009, so apart from Ashok Leyland, other commercial vehicle manufacturers may also cut down on production in the near future.
[via: indiaautomotive]
