Mercedes-Benz optimistic about Indian marketOctober 3rd, 2009 JALANDHAR - Luxury car maker Mercedes-Benz is hopeful of achieving good sales growth in India in the coming months despite stiff competition from rivals like BMW and Audi. "Last year we led India's luxury car segment with a 46 percent market share.
American Axle reaches deal with lenders to restructure debt, gets $110 million in help from GMSeptember 17th, 2009 American Axle restructures debt, gets help from GMDETROIT — American Axle & Manufacturing Holdings Inc. said Thursday that it reached a deal to restructure its debt and received millions in financial help from General Motors, likely preventing a bankruptcy protection filing at struggling auto supplier.
Audi India targets sales of 1,500 cars this yearSeptember 17th, 2009 CHENNAI - Audi India is targeting sales of 1,500 cars this year, an increase of over 450 from 2008, and hopes to capture 15 percent share in the domestic luxury car market. "Going by the sales trend, we are confident of exceeding the target.
Mercedes-Benz launches its heavy duty truck in IndiaSeptember 8th, 2009 NEW DELHI - Premium car manufacturer Mercedes-Benz India Tuesday launched its globally acclaimed third-generation truck Mercedes-Benz Actros 4841K in the country. The Actros is its largest selling truck model worldwide, the company said in a statement.
Mercedes-Benz launches special edition modelAugust 20th, 2009 NEW DELHI - Premium car manufacturer Mercedes-Benz India Thursday launched its special edition C-class model here. The petrol variant is priced at Rs.28.46 lakh and the diesel at Rs.31.3 lakh ex-showroom Delhi.
American Axle working through restructuring plan with legal and financial advisersJuly 11th, 2009 American Axle working through restructuring planNEW YORK — American Axle is working with longtime legal and financial advisers to consider restructuring options, but the company and a law firm representing it are stopping short of saying they are considering bankruptcy. "After discussions with our bankruptcy group we are not in a position to comment," a Shearman & Sterling spokesman said.
Germany's Mercedes Benz Cars sees June sales levels decline 7 percentJuly 7th, 2009 Mercedes Benz Cars June sales decline 7 percentFRANKFURT — Carmaker Daimler AG's Mercedes-Benz Cars division saw 7 percent lower sales in June as the world recession continued to affect demand, the German company said Tuesday. The Stuttgart-based company said the Mercedes-Benz Cars group sold 111,300 passenger cars in June, compared with 119,300 in June a year ago.
Railways-owned companies earning profit: BanerjeeJuly 3rd, 2009 NEW DELHI - Public sector undertakings (PSUs) under the railway ministry are profitable and have posted a combined net profit of Rs.1,950 crore ($406 million) in 2007-08, Railways Minister Mamata Banerjee said here Friday. Presenting her ministry's budget for the current fiscal in the Lok Sabha, she said: "During 2007-08 all the 10 PSUs under the administrative control of the ministry of railways have performed well and achieved a combined turnover of Rs.11,880 crore and earned a net profit of Rs.1,950 crore."
The companies paid a combined dividend of Rs.261 crore to the railways during the year, the minister said.
American Axle suing supplier Republic Engineered Products to resume steel shipmentsJune 16th, 2009 American Axle sues steel maker to resume shipmentsNEW YORK — Auto parts supplier American Axle & Manufacturing Holdings Inc. is seeking a court order to get one of its steel suppliers to resume deliveries, saying that by cutting off supplies it threatens the entire auto supply chain.
American Axle & Manufacturing reports wider 1st-quarter loss as production cuts batter salesMay 1st, 2009 American Axle posts wider 1Q loss on industry woesDETROIT — Auto parts supplier American Axle & Manufacturing Holdings Inc. on Friday posted a wider first-quarter loss as production cuts at automakers sent its sales tumbling.
Delhi metro orders more coachesApril 26th, 2009 NEW DELHI - With the metro increasingly becoming the choice of city's commuters, the Delhi Metro Rail Corporation (DMRC) has ordered extra coaches to be attached to some existing trains to increase the passenger capacity, an official said Sunday. Eight more coaches have been ordered by the DMRC to be added to four trains.
Mercedes-Benz India to enter used car segmentMarch 20th, 2009 KOLKATA - Luxury car maker Mercedes-Benz India will enter the used car business by the year-end, a top official said here Thursday. 'We are currently working on launching the used car programme in India.
Mercedes-Benz seeks tie-ups with states for low-floor busesMarch 19th, 2009 CHENNAI - Luxury car maker Mercedes-Benz India, which entered into the bus market last year, is looking for tie-ups with state transport undertakings (STU) for selling its low-floor buses, a top official said here Wednesday. 'After launching inter-city luxury coaches, now we are looking at other segments like low-floor city buses and three axle buses.
Bombardier expects order for 100 more coaches from Delhi MetroFebruary 26th, 2009 NEW DELHI - Bombardier Transportation, a unit of Germany-based Bombardier Inc, expects to get orders for 100 more metro coaches from Delhi Metro Rail Corp (DMRC), a company official said here Thursday. The company has already bagged an order for 424 coaches from DMRC.
Mercedes-Benz will hike prices in FebruaryJanuary 14th, 2009 NEW DELHI - Mercedes-Benz cars will become costlier in India next month when the prices will be raised due to the rising input costs and a depreciating rupee, the company said in a statement Thursday. 'Fluctuating input prices and adverse exchange rates have posed severe challenges for margins,' Wilfried Aulbur, managing director and chief executive, Mercedes-Benz India, said in a statement.
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