New Delhi: Auto sales in India moderated in May with the country's largest car makers Maruti Suzuki, General Motors, Ford and TVS Motor posting declines in their numbers due to post-Budget price hikes, high interest rates and rising fuel prices. Hyundai Motor, Tata Motors and Mahindra & Mahindra, however, witnessed sales going up. During the month, the country's largest two-wheeler maker Hero MotoCorp registered its highest ever monthly sales. Maruti...
09:38 PM, Jun 01, 2012
New Delhi: The country's largest carmaker Maruti Suzuki on Friday reported 4.99 per cent fall in total sales at 98,884 units for May. The company had sold 1,04,073 units in the same month last year, Maruti Suzuki India said in a statement. In May, MSI recorded domestic sales at 89,478 units, compared to 93,519 units in the year-ago period, registering a fall of 4.32 per cent. Similarly, MSI's exports went...
12:21 PM, Jun 01, 2012
New Delhi: Amid widespread protests, Finance Minister Pranab Mukherjee will soon write to state chief ministers to consider cut in sales tax on petrol to partly neutralise the impact of the Rs 7.54-per-litre hike in the price of the auto fuel. "We are awaiting inputs from the Petroleum Ministry. The Finance Minister will be asking the state chief ministers to lower duties," an official said. Meanwhile, Uttarakhand, Kerala and Delhi...
03:29 AM, May 29, 2012
Thiruvananthapuram: A day after the petrol price hike, the Kerala government at a special cabinet meeting on Thursday decided to forgo the sales tax on petrol, reducing its price by Rs 1.63 per litre. "This will cost the exchequer Rs 218 crore," Chief Minister Oommen Chandy told reporters here. "I have also written to the prime minister, UPA chairperson and petroleum minister, saying that the hike will affect the people...
06:28 PM, May 24, 2012
San Francisco: Dell Inc's new ultra-thin laptop computer meant to rival Apple Inc's popular MacBook Air is doing much better than the company expected. Sales of the XPS 13 ultrabook, which hit store shelves on February 28, are now more than double the company's internal forecast, driven by strong demand from both consumers and big corporations, Dell said. "With this product, we went aggressive with the forecast," Dell product marketing...
10:57 AM, May 02, 2012
Washington: Amazon.com Inc's stellar quarterly results are helping convince skeptics on Wall Street that a bout of intense spending is beginning to pay off for an Internet retailer trying to transform itself into a technology company. Shares in Amazon leapt 15 per cent on Friday after it reported first-quarter earnings and margins well above investors' most bullish expectations, tacking on some $10 billion in market value and marking its biggest...
12:40 PM, Apr 28, 2012
New Delhi: Car makers are hoping that bank will reduce interest rates on car loans following the RBI's cut on lending rates as the industry looks forward to overcome slow growth witnessed last fiscal. Describing RBI's cut in short term lending rate by 0.50 per cent to 8 per cent as "good direction", Maruti Suzuki India Managing Executive Officer Marketing and Sales Mayank Pareek said: "It will spur growth. I...
03:50 PM, Apr 17, 2012
Chennai: Joining her West Bengal counterpart Mamata Banerjee, Tamil Nadu chief minister J Jayalalithaa on Saturday attacked the Centre for its "arbitrary" action in reducing Central Sales Tax (CST) compensation to states by linking it with VAT rate revision. Though the Centre had agreed to compensate states for the revenue loss for 2010-11 also, the eligible compensation was "arbitrarily restricted" by deducting additional revenue realised through revision of VAT rate...
07:52 PM, Apr 14, 2012
Toronto: Research In Motion Ltd likely lost money on sales of its BlackBerry smartphones and PlayBook tablet computers in the fiscal year just ended, an analyst said on Tuesday after studying the company's latest data. Gross margins on such hardware items fell to 20 per cent in the fiscal year that ended in early March from 36 percent a year earlier, RIM said in an annual filing to US regulators...
11:08 AM, Apr 11, 2012
New Delhi: Car sales in India rose just 2.2 percent in the fiscal year that ended in March, a year to forget for automakers marked by demand-smothering high interest rates and rising fuel costs, but are seen posting double-digit growth this year. Sales rose an annual 19.7 percent in March, a fifth straight monthly increase, but still lower than the 30 percent growth seen in the 2010/11 fiscal year, before...
05:51 PM, Apr 10, 2012
New Delhi: Major car makers, including Tata Motors, Mahindra and Mahindra, and Toyota posted record sales for the month of March on the back of customers advancing their purchases fearing price hike after Budget. About seven vehicle makers announced robust sales in March 2012 over the corresponding period a year ago with Tata Motors crossing one lakh unit sales mark. Anticipating increase in car prices post Budget, customers preponed their...
11:19 AM, Apr 02, 2012
New Delhi: BlackBerry maker Research in Motion (RIM) is now looking at CDMA devices to boost its sales in the country and is re-launching its Curve 8530 model at about 12 per cent lower price of Rs 11,990. Curve 8530, which was earlier available at Rs 13,500, is the CDMA version of BlackBerry's most popular GSM device - Curve 8520. "Smartphones are getting popular day by day, but a majority...
01:03 PM, Apr 01, 2012
Janata Party President Subramanian Swamy said the total loss in coal blocks sale is more then the GDP of country. ...
02:53 PM, Mar 22, 2012
Bangalore: Apple Inc is seeing record pre-orders for its latest iPad with wait times for shipping the tablet now reaching two to three weeks, said Canaccord Genuity analysts, who now expect the company to sell 65.6 million iPads this year. Last week, Apple's Chief Executive Tim Cook introduced the highly anticipated third iteration of the iPad, which is available for pre-orders from Wednesday and will hit store shelves March 16....
10:53 AM, Mar 15, 2012
New Delhi: Ratings agency Moody's on Monday said the result of the Government stake auction in ONGC has tarnished the image of the oil major. On March 1 the Government had auctioned 5 per cent of its stake in ONGC. "The result of the ONGC auction highlights how the Government's own weak finances and policies tarnish the perceived value of the companies it owns," Moody's said in a statement. Although...
08:47 PM, Mar 05, 2012
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