German carmaker Daimler AG said its Mercedes-Benz Cars division saw a 4 percent increase in global sales in October.
Daimler, based in Stuttgart, said the division, which includes the Mercedes-Benz and Smart brands, delivered 97,700 cars during the month compared with 93,800 in October 2008.
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The boss of Nissan’s Sunderland plant said he was confident it had done all it could to attract electric vehicle manufacturing to the region - but said it was still in a race with two other European countries to land the work.
Trevor Mann, Nissan’s senior vice president for manufacturing in Europe, was speaking at One North East’s annual review meeting in Durham’s Radisson Blu Hotel.
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The country’s largest auto maker, Tata Motors, today posted 34.42 per cent jump in its total sales during October at 53,404 units.
The company had sold 39,729 units in the same month in 2008.
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Car maker Ford India today reported 98.28 per cent jump in its October sales at 3,458 units.
The company had reported sales of 1,744 units during the same month last year.
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Luxury car maker Audi India today reported 8.41 per cent increase in its sales in October at 116 units over the same period last year.
The company had sold 107 units in October, 2008, Audi India said in a statement.
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Insolvencies among UK car dealers have doubled this year, according to a new report.
Uncertainties will continue for dealerships long after the UK comes out of the recession, said the report accountant Ernst & Young.
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Car makers in the country, led by Maruti Suzuki Hyundai and Tata Motors, today reported healthy jump in October sales, cashing in on robust purchases during the festive season.
Two-wheeler makers, except for market leader Hero Honda, also reported good sales growth during the month.
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Italian carmaker Fiat will produce two models at the Bertone plant near Turin, a trade union source said on Thursday, citing a meeting with a company executive.
When production lines are fully operative Fiat will manufacture 50,000 cars per year at the factory, the source cited Fiat Powertrain Technologies chief executive Alfredo Altavilla as saying during a meeting in Turin.
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A joint venture between Tata Motors and Fiat is likely to launch a number of Chrysler models in India, including the iconic Jeep Cherokee, from a factory in Ranjangaon near Pune as it seeks to expand its presence in one of the world’s fastest growing passenger car market. Sources close to the development, who did not wish to be identified, said that Tata-Fiat alliance will initially start retailing the Cherokee and follow up with other products.
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Tata Motors raised US$ 750 million (about Rs3,525 crore) through Global Depository Receipts (GDRs) and convertible bonds, to pay off rest of the debt that it incurred for acquiring UK’s iconic brands, Jaguar and Land Rover.
The issue comprises of GDRs of $375 million and an equivalent amount in convertible bonds. The size of the offering was increased by 25% as the initial fund-raising target of $600 million (Rs2,820 crore) closed in less than an hour, following robust investor demand.
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