FUEL PRICE HIKE WILL HAVE BRIEF IMPACT ON AUTO INDUSTRY
JAKARTA - An increase of 10 per cent-20 per cent in oil fuel prices will have significant effect only on the automotive market, an industrialist said.
The effect will not last long either, deputy chairman of the association of the motor vehicle industries Johnny Darmawan predicted, saying in two months the market will be normal again.
MALAYSIA'S DRB-HICOM WINS US$169 MLN DEAL TO SUPPLY MILITARY VEHICLES
KUALA LUMPUR - DRB-Hicom Berhad (KLSE:1619) on Monday said it has signed an agreement with the Malaysian government to supply military land-based vehicles to the Army worth RM541.3 million (US$169.2 million).
The company's wholly-owned unit, DRB-Hicom Defence Technologies Sdn Bhd (Deftech), signed the agreement on Monday to supply 48 units of Armoured Carrier Vehicle (ACV) 300 Adnan, eight units of ACV-S 120mm Mortar Carrier and 87 units of three-tonne 4x4 Hicom Handalan II GS Cargo to the Army and Depoh Simpanan Pertahanan Malaysia.
VOLVO TO PRODUCE S80 SEDAN IN CHINA
BEIJING - Volvo Group plans to produce a second type of sedan at the production base of Changan Ford Mazda Automobile Co., Ltd. in Southwest China's Chongqing Municipality.
The sedan type will be S80, said Steven Armstrong, chief operating officer of Volvo, quoted by Chongqing Morning Post.
SITE FOR DONGFENG PEUGEOT CITROEN' S THIRD PLANT NOT DECIDED YET
BEIJING - The site for the third plant of Dongfeng Peugeot-Citroen Automobile will be re-selected nationwide because the PSA Peugeot Citroen of France has recently participated in Dongfeng's negotiation of integrating Hafei Auto Group.
The statement was made by an executive of Dongfeng Motor, who is in China attending the 10th Beijing International Auto Show.
NIPPON STEEL TO SEEK 40% PRICE HIKE ON RISING MATERIALS COSTS
TOKYO - Driven by soaring materials costs, Nippon Steel Corp. (TSE:5401) has decided to ask automakers and other customers to accept a nearly 40 per cent increase in prices for its mainstay steel products, The Nikkei learned Monday.
Other major steelmakers will likely follow suit, but manufacturers of cars, machinery and electronics products are expected to put up strong resistance.
CHINA'S CHERY AUTO TO BUILD PLANT IN MALAYSIA
BEIJING - China Chery Automobile Co. Ltd on April 18 officially signed an agreement with Alado of Malaysia to launch a joint venture in Malaysia to produce automobiles for ASEAN market.
It is expected that by 2011, the income of the new plant will exceed two billion Malaysia Ringgits (US$625 million).
HERO HONDA HIKES PRICES OF TWO-WHEELERS
NEW DELHI - India's largest two-wheeler manufacturer Hero Honda (BSE: 500182)on Monday announced raising prices of its products between Rs 500 (US$12.55) and Rs 1000 owing to increase in input costs.
"Within cost, last week we have increased the prices of many of our products by Rs 500-1000. We have been trying to absorb rising commodity prices, but it has reached a stage where we need to pass it to the customers," Hero Honda Managing Director Pawan Munjal told reporters here.
VIETNAM RAISES IMPORT TAX ON AUTOMOBILES
HANOI - Vietnam has increased import tax on wholly-assembled cars to 83 per cent from the current 70 per cent.
According to a list of revised import taxes issued by the Ministry of Finance on April 21, the new tax will be applied from April 22.
CHINA'S DONGFENG MOTOR TO INVEST HEAVILY IN PRODUCTION EXPANSION
BEIJING - Dongfeng Motor Group, one of the top three automakers in China, plans to invest 23 billion yuan (US$3.285 billion) in production expansion in the 2008-2009 period, according to high-ranking sources of the group attending the on-going Beijing auto show.
The group, based in central China's Hubei province, plans to bring its production capacity from 1.117 million vehicles in the end of 2007 to 1.61 million by 2010.
CHINA'S AUTOMOBILE PRICES TO EDGE LOWER IN Q2
BEIJING - China's automobile prices are expected to drop in the second quarter of this year, as a reflection to the released output capacity and tougher competition.
Automobile producers in the second quarter of this year, an off-season for auto sales, are looking to restructure in order to cut down costs and expand production scale.
RISE IN AUSTRALIAN AUTO SALES SHOWS BUOYANT CONSUMER SENTIMENT
SYDNEY - A rise in motor vehicle sales in March suggests consumers may not be as downcast as first thought, economists say.
Australian new motor vehicle sales rose 1.0 per cent, seasonally adjusted, the Australian Bureau of Statistics (ABS) said today.
BMW SCRAPS PLANS TO LAUNCH 'MINI' IN INDIA BY 2009
NEW DELHI - German luxury car maker BMW has scrapped plans to launch the premium small car 'Mini' in India by 2009, citing feasibility reasons.
"Last week, we have taken a decision to scrap plans to bring Mini by 2009. After the feasibility study we had undertaken, it is clear to us that it will not be viable to bring the car that soon," BMW India India President Peter Kronschnabl said.
CHINESE AUTO PARTS SHOW BRIDGES BUYER & SELLER DEMANDS
BEIJING - Like many companies, manufacturers and suppliers of automotive parts and equipment continue to search for professional marketing platforms to better promote their business in China.
The quest has led many to the trade show Automechanika Shanghai as buyers from across China - and the world - view the fair as one of the year's major sourcing events, a place where they can meet new suppliers and find the automotive products they need.
STEEL, ENERGY COST INCREASES PUSH CHINESE-MADE AUTO PRICES UP
BEIJING - Chinese domestically manufactured vehicle prices edged up 0.15 per cent in March month-on-month, according to the latest figures from the price supervision center, which is under the National Development and Reform Commission, the top economic planner.
The price supervision report based on the country's 36 big-and medium-sized cities showed that the domestically made vehicle prices in the first quarter rose 1.05 per cent compared with the end of last year, boosted by the price rise of steel products and energy.
GENERAL MOTORS OPENS NEW ENERGY RESEARCH CENTRE
BEIJING - General Motors Corp has opened a new Energy Research Center in Beijing over the weekend, part of GM's new collaborative strategy to strengthen its development of new energy models on the world's second largest auto market.
The China Automotive Energy Research Center (CAERC) is jointly set up by GM, its Chinese partner Shanghai Automotive Industry Corp Group (SAIC) and Tsinghua University, one of China's leading engineering colleges.
HONDA TO BEGIN TAKING HONDAJET ORDERS IN EUROPE IN MAY
TOKYO - Honda Motor Co. (TSE:7267) announced Friday that it will begin taking orders in Europe for its HondaJet light jet in May.
The company will unveil European pricing as well as the sales and service network for the plane at the EBACE business aviation show that opens in Geneva, Switzerland, on May 20.
AUDI JAPAN AIMS TO GET MORE TIRE KICKERS TO TAKE TEST-DRIVES
TOKYO - Audi Japan KK will step up its marketing efforts, expanding sales staff by about 70 per cent and strengthening employee training to encourage more visitors to test-drive vehicles.
Salespeople will increase from about 400 to 700 over the next 10 years. Customer service training will be beefed up, rising to around 50,000 person-hours this year from last year's 37,000.
SSANGYONG MOTOR MAY SELL SAIC'S ROEWE CAR IN SOUTH KOREA
BEIJING - The top executive of Ssangyong Motor Co. (KSE:03620), the South Korean unit of China's Shanghai Automotive Industry Corp. (SSX:600104), said Monday it was considering producing and selling a compact car developed by its Chinese parent in South Korea.
"In the case of the Roewe 550, we could produce it in Korea by adjusting it as a Korean-style model," Ssangyong Motor Chief Executive Officer Choi Hyung-tak told reporters on the sidelines of the Beijing Auto Show, referring to the SAIC's own brand vehicle.
HONDA QUARTERLY CAR SALES RISE 46PCT IN INDONESIA
JAKARTA - PT Honda Prospect Motor (HPM), which assembles Honda cars in Indonesia, has reported a 46 per cent increase in sales in the first quarter of this year, from the same period last year.
Honda car sales totaled 12,789 units in the January-March period or a 9.4 per cent share of the Indonesian car market.
SOUTH KOREAN CARMAKERS SET TO TAP CHINA'S LUXURY CAR MARKET
BEIJING - South Korean automakers unveiled their luxury cars in China on Sunday in a bid to tap the growing premium car market in the world's fastest-growing economy.
South Korea's top automaker Hyundai Motor Co. (KSE:05380) introduced the new luxury sedan Genesis, while its affiliate, Kia Motors Corp. (KSE:000270), introduced the Mohave sport-utility vehicle at a Beijing motor show.
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