MUL UNIT `CLOSURE' HELPS GREY MARKETS
Article Abstract:
Maruti Udyog Ltd (MUL) has downed its shutters at its Gurgaon plant for a week. The closure is a routine annual feature for plant maintenance and stock taking purposes. New car brokers and dealers are exploiting the situation and have begun charging a hefty premium on the popular models. The price of the Zen model has gone up by about Rs25,000 in the grey market and that of the 800 cc model by Rs15,000. The Omni van is selling at a premium of Rs10,000. The closure is expected to affect delivery schedules of the dealers for the next two months. (uh)
Comment:
Shuts down Gurgaon plant in India for a week for plant maintenance & stock taking purposes
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDIAN AUTO COMPANIES REV UP ON THE NET
Article Abstract:
Automobile companies, like Ashok Leyland Ltd, Maruti Udyog Ltd, Ford and Daewoo, have set up Web-sites to promote their products worldwide. Ashok Leyland Ltd expects to get 50-60 percent of its international enquiries through its Web-site. It also expects to get human resource oriented enquiries on the Internet. The Web- site of Maruti Udyog Ltd allows the customer to paint his/her own Maruti. Daewoo is trying to market its Matiz model car through its Web-site. Even 2-wheeler producers, like Escorts and Hero Honda, have launched their Web-sites. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MFIL RENAMED FORD INDIA AS CO STAKES CHANGE HANDS
Article Abstract:
Mahindra Ford India Ltd (MFIL) has been renamed as Ford India Ltd after the decision of Ford Motor Company (FMC) of the US to increase its stake in the company from 50 percent to 92.18 percent. FMC is hiking its stake in MFIL after Mahindra & Mahindra decided to limit its investment in the joint venture to Rs135 crore. MFIL's board has also been restructured, with chairman Mr Keshub Mahindra stepping down and Mr Terry de Jonckheere, executive director of FMC's Asia Pacific and Africa operations, taking his place. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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