winner48

Second rate automotive firms coming to India

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According to a senior state official from the industry department of Tamil Nadu, the government has received proposals worth Rs7,000 crore, mainly from automobile companies.

The proposals in hand are led by automobile, electronics and heavy engineering. The official noted, that the state already houses top 10 global auto makers and now the focus is on second rung automobile companies. Proposals in the pipeline include Kia Automotive Group and a Japanese second rung automobile company, he said, while refusing to disclose the name.

Source: Business Standardwinner482010-09-04 09:15:28

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Second rate is Chinese stuff. Kia is Hyundai's twin brother and giving some real competition to low segment cars in Europe and USA. Mazda is not second rate. Half of its drivetrain technologies resulted in Ford's Duratec engines., thats why Ford has a sizeable stake in that company.

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@winner: I don't think theres anything bad about Kia. In fact what I'm afraid is the 'third rate' cars that GM India's going to unleash on the Indian populace, from its Chinese bosses: Wuling with absolute crappy engine options to boot. They are in talk with auto (three wheeler) makers for engines for its Wuling. Every ones tripping overtheir shoelaces to out do the Nano.

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It surely is ridiculous referring to any Japanese company especially when it is an automotive company as second grade. They are anything but.

 

Anyways, whats important is the info that we will be seeing two new companies coming in. Thats the good news we should rejoice.

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GM, Mitsubishi, and Isuzu Motors are eyeing a stake in Hindustan Motors,

reports CNBC-TV18, quoting sources. All three suitors have initiated

talks with Hindustan Motors and are exploring possible asset buy out

plans.

Hindustan Motors' Thiruvallur plant is

the likely asset buy option. The plant has a manufacturing capacity of

12,000 vehicles per annum.

All

the three suitors are keen on up and running auto manufacturing

facilities. They are keen on cheap valuation for the auto manufacturing

facilities.

The due diligence and valuation exercises are likely to begin soon. More clarity on the deal is expected in a month.

Hindustan Motors has been reported to the

Board for Industrial and Financial Reconstruction (BIFR) on networth

erosion. It had posted a net loss of Rs 42.85 crore in March 2010.

CNBC-TV18 learns that the company has been exploring the stake sale

option to emerge from BIFR.

When contacted, General Motors and Japan's Isuzu Motors denied having any interest in Hindustan Motors.

Mitsubishi said India is one of its most

important markets. "We are considering a further bolster of our Indian

operations," it said.

Hindustan Motors is yet to respond to CNBC-TV18's query.

At 9:37 am, the Hindustan Motors' share was quoting at Rs 23.6, up Rs 3.10, or 15.12%.

http://www.moneycontrol.com/news/business/gm-mitsubishi-isuzu-motors-eye-stakehindustan-motors_465160.html

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Some good news in limited amount.

Guess, Mini cooper is coming to india, infact one of my relatives is bringing it down. Im super exicted but nothing before 2012.

 

Just thought i would share it with some of new.

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Some good news in limited amount.

Guess' date=' Mini cooper is coming to india, infact one of my relatives is bringing it down. Im super exicted but nothing before 2012.

?

Just thought i would share it with some of new.
[/quote']

Are you importing it, or are you trying to say BMW will launch it here?

Either way, be clear.

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Mitsubishi could be the one. They might buyout HMs stuff and start their fresh new chapter in India. Another distant possibility is Mazda or Subaru or Isuzu. What about Daihatsu, Toyota's small car brand?

Just found that Mitsuoka is Japanese as well smiley17.gif!

 

My uncle is one of the directors of BMW india' date=' well he claims but i dont know how sure is he.

[/quote']

 

BMW might import the Mini Cooper as a CBU and compete with Fiat 500 and VW Beetle.
designersf2010-09-06 09:53:03

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....... I rarely comment in a thread for such reasons but the way Mr.Babu is being referred to here is disgraceful. ......
Who is talking about any member of the forum! Maybe you are not aware that Babu is a very commonly used term for a Government Servant or bureaucrat.

smiley36.gif Sgiitk i thought of saying the same thing yesterday. But i backed out.

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Mitsubishi could be the one. They might buyout HMs stuff and start their fresh new chapter in India.

 

Another distant possibility is Mazda or Subaru or Isuzu.

 

I don't think that Mitsubishi will buy-out HM-India, as the Mitsubishi Auto HQ, Japan is already working with Negative or Zero-profits from last 4 years.

(As read in a some Newspaper few months back).

 

Mazda will probably amongst the companies trying to Explore India, as the Isuzu(Isuzu Panther aka Chevrolet Tavera) & Subaru(now defunct Chevrolet Forester) are already in the Indian Market via GM-Motors & also they don't have Proper cars suited for Our Market, except the few to justify the Volumes & their Expenses.
dr_nishu2010-09-06 20:27:38

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Alright guys. Lets move on. Maybe according to the TN Government, any manufacturer apart from the top 3 could be second Rung in which case, Subaru, Daihatsu, Isuzu and Mazda can be considered. Its still confusing though. I thought Peugeot-Citroen were coming to Chennai

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