Car Sales: April-August 2009
Passenger Vehicles segment during April-August 2009 grew at 11.97 percent over same period last year. Passenger Cars grew by 13.47 percent, Utility Vehicles fell marginally by 0.10 percent and Multi Purpose Vehicles grew by 22.67 percent in this period.
During April-August 2009, all segments except Passenger vehicles registered de-growth. Overall automobile exports registered a growth rate of 3.18 percent.
[Via: CW]
India ahead of China in terms of exports
According to a Bloomberg report, India currently has an edge over China when it comes to car exports. The Indian car market, which is only one-fifth the size of the Chinese car market in terms of annual volumes, is emerging as a small car production hub for companies like Suzuki, Hyundai and Nissan. And because of this, India has managed to inch ahead of China this year, in terms of car exports.
According to figures released by SIAM, India's car exports between January-July this year stood at 229,809 units, an increase of 18% over the corresponding period in 2008. On the other hand, China's car exports for January-July 2009 stood at 164,800 units, a 60% decline over the year-ago period. Thailand exported 263,768 cars during January-July this year, a 43% decline over the figure reported for January-July 2008. Even South Korea's car exports for the first seven months of this year declined by 31%, at 1.12 million units.
According to analysts, car manufacturers are likely to favour India, rather than China, for setting up export bases because China requires carmakers to form joint ventures with local companies, while this isn't a limiting factor in India.
Hyundai’s Domestic sales up 12.9% in August 2009
Hyundai Motor India Ltd. (HMIL) has reported a 12.9% increase in sales in the domestic market during August this year, at 24,401 units, as against 21,610 units in August 2008. Exports went up from 23,100 units in August 2008, to 25,120 units during August this year.
During August 2009, HMIL sold 45,495 units in the A2 segment (Santro, i10, Getz, i20), 3,979 units in the A3 segment (Accent, Verna) and 47 units in the A5 segment (Sonata). The company did not sell any units of its SUV, Tucson, during August this year.
[Via: indiaautomotive]
Audi: Sales up 69% in India, in August 2009
Audi has reported a 69.31% hike in its sales in India during August this year, at 171 units, as against 101 units in the year-ago period.
The German company, which sells the A4, A6 and A8 sedans, Q7 and Q5 SUVs and the R8 supercar in India, sold 1,128 units in the country between January and August this year, an increase of 62% over the 696 units sold in January-August 2008.
[Via: indiaautomotive]
Audi A5 Sportback
http://www.youtube.com/watch?v=5TPowmhKagw
Audi A5 Sport Back Honest Johns Road Test
Qatar now Holds a Stake in Porsche
Porsche Automobil Holding SE, Stuttgart, and Qatar Holding LLC (QH) signed an agreement signaling the entry of the Emirate of Qatar into the Porsche SE family. In the afternoon, the Chairman of the Supervisory Board of Porsche SE, Dr. Wolfgang Porsche, welcomed the delegation from Qatar led by Prime Minister of the Emirate, Sheik Hamad ibn Jassim ibn Jabir Al-Thani, to the historical Porsche Villa located on Killesberg Hill outside of Stuttgart. There, in the presence of the Minister President of Baden-Württemberg, Günther Oettinger, the two men signed two contractual agreements.
The Prime Minister of the Emirate of Qatar signed the purchase agreement with which Qatar will acquire ten percent of the ordinary shares of Porsche SE. As spokespersons for the family shareholders, Dr. Wolfgang Porsche and Hans Michel Piëch also signed the agreement. The second agreement, which provides for the takeover by the Emirate of a major share in the cash settled options relating to Volkswagen shares, was signed by Ahmad Al Sayed, CEO of Qatar Holding, and Chairman of the Executive Board of Porsche AG, Michael Macht, as well as his Deputy Chairman, Thomas Edig, who are both members of the Executive Board of Porsche SE.
Sheik Hamad ibn Jassim ibn Jabir Al-Thani emphasized that Qatar considers itself a strategic investor who has great interest in the long-term positive development of Porsche. "Porsche ranks among the most valuable automobile brands in the world. We are proud to be a part of this sports car manufacturer and its rich tradition and history. Through our trust-based collaboration with the family shareholders, we will help ensure that the success story of Porsche, and, in the future, of Volkswagen continues to be written," explained the Prime Minister.
[Via: CW]
Pininfarina to sell to Tata
There are strong rumors floating that Tata may be looking at buying a stake in Pininfarina. Pininfarina is heavily in debt and is looking at finance options to get out of it - the company has already committed to do so.
On its part, Tata which already has Jaguar and Land Rover under its belt and has made a success with its Nano, is looking either at a partnership (so unofficial reports say) or a controlling interest in this Italian design/contract manufacturing business.
Pininfarina has its fingers in many pies: it is working on an electric car with Vincent Bolore, it has contracts with both Ford and Volvo to build Cabriolets of the Focus Coupe-Cabriolet and the C70 and now perhaps it will deal with the Indian automaker. If it does sell to Tata, the Indian automaker will build on an already strong portfiolio of famous global brands.
[Via: autoincar]