VOLKSWAGEN TO SOURCE 1 BN EURO AUTO COMPONENTS FROM INDIA

German auto major Volkswagen AG is embarking on an auto component sourcing drive from India, which will see the company ordering materials worth one billion euro for its global operations, within the next two years.

The Economic Times

Volkswagen hopes to sell 110,000 cars per year in India

Germany's Volkswagen said on Wednesday in a statement released at an annual auto show that it hopes to sell 110,000 cars a year in India starting 2009. Joerg Mueller, president of the firm's Indian operations, said Volkswagen would launch two new models in India this year including the Jetta, and hoped to introduce a small car in the country in 2010.

The Economic Times
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60 car launches planned through 2008

On offer would be everything from haute hatchbacks and green tech hybrids to adrenalin-dripping super premium luxe models. Not to mention the world’s cheapest automobile, the Rs 1 lakh people’s car from Tata Motors. As usual, the biggest action will be in the small car market where global best-sellers will rub shoulders with locally-developed tarmac scorchers. Maruti Suzuki will kick off the action with its Splash and A-Star concept, though the latter would be a predominantly export model. In the premium hatchback category, the Swift, Getz, U-VA troika will face competition from the likes of the Skoda Fabia and the Fiat Grande Punto, though all eyes would definitely be on the Rs 1-lakh car.

The Economic Times
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Argentum to infuse Rs 500 cr in Daewoo facility

Argentum Motors, the present owners of the erstwhile Daewoo Motors's India unit in Greater Noida, will infuse Rs 500 crore to modernise the facility over the next 18 months as it gears up to host global commercial vehicle maker Daimler for the latter's proposed LCV roll out.

The Economic Times
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