INDIA: SUV tax hike spooks investors
Shares in Mahindra & Mahindra, India's biggest utility vehicle manufacturer, fell as much as 1.4% on Thursday (28 February) after the country's finance minister proposed increasing excise duty on sports utility vehicles (SUVs).
Shares in Tata Motors, another big SUV player, fell as much as 0.8% after P Chidambaram proposed in the country's budget for the upcoming financial year that the duty would increase to 30% from 27%, Reuters reported.
The battle over air conditioning refrigerant between Mercedes-Benz and France (more or less repping the EU) continued this week with neither side showing signs of backing down....
Tata Motors' Jaguar is recalling 940 of the four-cylinder XF two litre petrol models introduced in the US for the 2013 model year....
Mahindra & Mahindra (M&M) plans to spend INR2bn to strengthen its line of trucks and buses....
Tata Motors' Jaguar Land Rover is recalling 11,852 vehicles in China over possible engine and oil leakage problems, the country's quality watchdog said....
Mahindra Group South Korean SUV specialist unit Ssangyong said sales and revenue grew more than 26% year on year in the second quarter of 2013 and 22% in the first half though the bottom line was an H...
A generous dividend of INR14.2bn (US$232.6m) from UK subsidiary Jaguar Land Rover allowed Tata Motors to offset losses from domestic operations for the fiscal first quarter ended 30 June, 2013....
Indian vehicle manufacturer Mahindra & Mahindra announced plans to build a new light vehicle assembly plant in Ghana's capital city Accra....
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