Automobile Newsletter – July 25 to 29, 2016 – Indiainfoline


Top News
 
Maruti Suzuki Q1 PAT at Rs.1,486.2 crore, up 23%
Maruti Suzuki India Ltd has announced the Unaudited Standalone results for the quarter ended June 30, 2016. The Company has posted a net profit of Rs.14862 million for the quarter ended June 30, 2016 as compared to Rs.12081 million for the quarter ended June 30, 2015. Read more
 
Autoportal becomes largest automotive marketplace, transacting highest number of cars in India
Autoportal, an online marketplace for automobiles, has become the largest platform in its segment, transacting the highest number of cars as compared to any other dealership in India. Autoportal has successfully completed more than 4500 transactions in the last three months, with participation from 500+ dealerships across 18 cities. “We aim at scaling the business to 100 cities by December 2017. With today’s customer who searches 75% of the time online, out of which 65% is on smartphones, this does not look like a distant dream. With strong Internet penetration in India and substantial back-end technology, Autoportal has bagged many happy customers,” says Sagar Das, co-founder, Autoportal. Read more
 
Maruti Suzuki forays into LCV segment with Super Carry
The country’s largest passenger vehicle maker Maruti Suzuki India Limited announced that it will start sales of its first Light Commercial Vehicle (LCV) – Super Carry towards the end of August. Initially the vehicle will be sold in three cities – Ahmedabad, Kolkata and Ludhiana. Read more
 
News in Focus
 
Tata Motors to consider raising Rs.400 cr via NCDs
Tata Motors Ltd has informed BSE that the company is desirous of offering the fourth series of its Rated, Listed, Unsecured, Redeemable, NCDs aggregating to Rs. 400 crores and in this regard is holding a meeting of its duly constituted Committee of the Board on July 28, 2016. Read more
 
Domestic News
 
Yamaha establishes its second R&D Centre in India

Yamaha Motor Research & Development India Pvt. Ltd. (YMRI) announced the establishment of its second R&D Centre in India today. The new Centre is located in the premises of India Yamaha Motor’s plant in Kanchipuram district, Tamil Nadu. Read more
 
Eicher Motors Q1 cons net profit up 58.6% to Rs.376 crore
Eicher Motors Ltd has announced the following results for the quarter ended June 30, 2016. The company has posted a net profit after taxes and profit of joint ventures of Rs.376 crore for the quarter ended June 30, 2016 as compared to Rs.237 crore for the quarter ended June 30, 2015. Read more
 
TVS Motor Company Q1 net profit jumps 21% to Rs.121 crore
TVS Motor Company Ltd has announced the Unaudited Standalone results for the quarter ended June 30, 2016. The Company has posted a net profit of Rs. 1212.50 million for the quarter ended June 30, 2016 as compared to Rs. 1000.80 million for the quarter ended June 30, 2015. Read more
 
Castrol India Q2 PAT at Rs.2,069 million
Castrol India Ltd has announced the following Unaudited Standalone results for the quarter ended June 30, 2016. The company has posted a net profit after tax of Rs.2069 million for the quarter ended June 30, 2016 as compared to Rs.1845 million for the quarter ended June 30, 2015. Read more
 
Maruti Suzuki plans to expand NEXA outlets to 250 by March 2017 to meet growing demand
NEXA, the new automotive sales channel of Maruti Suzuki India Limited (MSIL), has  completed one year of operations. NEXA, one of the most important initiatives by  Maruti Suzuki in its journey of transformation, has redefined the car purchase experience in India. Launched in July 2015, NEXA has enabled Maruti Suzuki to attract new categories of customers to its fold. At present, the cars sold through NEXA are premium  cross-over, S-Cross and premium hatchback, Baleno. Read more
 
Moody’s: Hyundai Motor’s 2Q 2016 results in line with its Baa1 rating
Moody’s Investors Service says that Hyundai Motor Company’s operating results for 2Q 2016 were generally in line with expectations and support the automaker’s Baa1 issuer rating and stable outlook. Read more
 
TVS Motor announces long-term association with Arjun Maini
TVS Motor Company, one of India’s leading two wheeler maker, announced that they will be supporting Arjun Maini and has signed up for a long term association with the 19-year old racer. Maini recently created history by securing a podium finish in his second GP3 appearance in Budapest, Hungary. He made his debut in GP3 at Silverstone earlier this month. Read more