Audi India 2013 sales up 11%, crosses 10,000 units milestone
New Delhi: German auto major Audi reported 11 % growth in its 2013 sales at 10,002 units in India, thus becoming the first luxury car maker to cross the 10,000 milestone in the country. The company had 9,003 units in 2012. Rival BMW, which occupied the top slot in the luxury car market in India after dethroning Mercedes-Benz since 2009, is yet to announce its yearly sales for 2013. Mercedes-Benz India reported 31.62 % increase in its sales in 2013 in India at 9,003 units. Audi India head Joe King said: “2013 was a stellar year for Audi in India in terms of growth, expansion and performance. Our strong leadership is a result of our diverse product portfolio, network expansion, unique marketing activities…” The firm said in December, it had bookings of more than 1,340 units – the highest ever in a month. However, certain supply constraints have resulted in delayed delivery of 450 odd vehicles to January 2014.
Bajaj Auto bike sales down 13% in Dec
New Delhi: Bajaj Auto reported 12.63 % decline in motorcycle sales at 2,60,645 units in December 2013. The company had sold 2,98,350 units in the corresponding month previous year, Bajaj Auto Ltd (BAL) said in a statement. BAL said exports were up 19.63 % during the month at 1,50,753 units compared to 1,26,016 units in December 2012. In the commercial vehicles category, the firm said its sales stood at 37,171 units as against 45,596 units in the same month previous year, down 18.47%.
Tata Steel mulls price increase
Kolkata: Tata steel is considering an increase in the prices of its products in the January-March (Q4) of the 2014 financial year. “There are chances. Demand is there. We are looking at opportunities,” Tata Steel M D (India and South East Asia) T V Narendran said on the sidelines of a IIM (C) event. The company was mainly looking for an increase in the prices of long steel products as imports have squeezed. In the last 2-3 months, the company had raised prices between Rs 2,000 and Rs 3,000 on an average.
Min: Govt will review gold imports policy
Hyderabad: Amid demands for relaxing curbs on gold import, India’s Commerce and Industry Minister Anand Sharma Friday said the government would review the policy, noting there is a need to strike a balance. The Directorate General of Foreign Trade (DGFT), the commerce secretary, the economic affairs secretary and Reserve Bank of India (RBI) will discuss and take a collectively decision, Sharma told reporters on the sidelines of an event. He, however, declined to give any timeframe.
Forex reserves rises to $295.7 bn
Mumbai: After declining for two weeks, India’s foreign exchange reserves rose by $204.9 million to $295.71 billion in the week ended December 27 on the back of an increase in the core currency component, the Reserve Bank of India said. The reserves had declined by $12.6 million in the previous reporting week to $295.50 billion. Foreign currency assets (FCAs), which form a major part of the overall reserves, shot up by $164.3 million to $268.634 billion in the week under review, the Reserve Bank said.
Mak Assoc invites Indian bizmen to Dubai
Mumbai: Mak Associates, an ISO 9001:2000 certified leading business consultancy firm in Dubai, invited Indian Business Community & Investors to UAE to expand their business activities through various specialized consultancy services provided by the firm. Dr. Khalid Maniar, Founder and group managing partner stated, “there is an excellent scope for the Indian business community to expand their business vistas from Dubai by taking advantage of Mak Associates expertise in UAE business solutions.’’