B U S I N E S S | Monday, November 22, 1999 |
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War over GAIL hots up Daewoo car sales rise Reader insurance not
unfair SG introduces Profile Series
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Daewoo car
sales rise CHANDIGARH, Nov 21 Daewoo Motors India Ltd has reported a rise in the sales of its cars for October, 1999, at 3,259 units with the launch of additional variants of Matiz and the introduction of Nexia, according to company sources. In September Daewoo sold 3,166 cars, which also include 300 Matiz cars exported to Egypt. Compared with last months domestic sales, Daewoo has registered an increase of 13.71 per cent in October. The total number of Daewoo cars sold between April and October 1999 stands at 17,927 units against 4,357 cars sold during the same period in 1998. Matiz, which has completed one year in India, has evoked a good response resulting in overall sales of 17,500 cars since its launch in November,1998. Managing Director S.G. Awasthi attributes the rise in sales partly to the two-year warranty scheme announced recently. The J.D. Power report has rated Matiz as the best quality car in the small segment of the Indian automobile industry. Daewoo currently produces around 120 cars per day on an average. That limits the supply of cars. The company is soon going to get into the second shift of manufacturing. With this, the waiting period of the cars will then be reduced. The company has
announced a Matiz Ist anniversary celebrations contest to
involve customers by inviting suggestions towards
improvisations as well as feedback on satisfaction levels
with Daewoos current product range. |
SG
introduces Profile Series CHANDIGARH, Nov 21 Sanspareils Greenlands, Indias largest manufacturer of cricket bats, has launched range of cricket bats the Profile Series. The Profile Series is available in three models Profile 2000, Profile 1000 and Profile 500. Made of willow imported from England, incorporating intelligent weight redistribution, the bats comprise an enhanced ridged back with profiled tapering edges behind the sweet-spot. Combined with the
aerodynmically styled tapered profile system , and the
curved blade, the bat generates awesome power and pickup
without the feel of the extra weight. The non-slip rubber
grip ensures better control and comfort. A nine-piece
imported cane with a new oval shaped handle provides
maximum shock absorption, alongwith good ball rebound,
and jerk-free performance. |
Bata set for higher sales despite lockout NEW DELHI, Nov 21 (PTI) Bata India on Sunday said it would report a higher turnover during 1999 and would not be affected by the eight-month closure of its Faridabad unit.The unit, which was reopened early this month, produces only a small amount of Batas total production and will hardly affect the companys performance this year, MJZ Mowla, Senior Vice-President of Bata India, told PTI. Moreover, the Faridabad unit was catering only to lower-end products like canvas shoes and hawai chappals, he said. Bata India reported a turnover of Rs 743.17 crore during the year ended December 1998. The Faridabad unit produces only 1.25 crore pair of rubber and canvas footwear per annum compared to Bata Indias total production of Bata Nagar unit in Calcutta which produces 2.8 crore pairs of rubber and canvas footwear and 83 lakh pairs of leather footwear. Bajaj Auto sued: A city plastic moulding company has dragged Bajaj Auto Limited to court for arbitrarily terminating the business contract (MoU) and for recovery of dues to the tune of Rs 79.64 crore. The company, Sandeep Polymers Private Limited (SDP), supplying plastic panels to Bajaj for its scooters and which had made huge investments as part of the agreement, has accused Bajaj of breach of trust, Managing Director Dileep Nivatia told reporters here yesterday. The suit has been filed before the third joint Civil Judge (senior division) and notices were issued to respondents, Bajaj Chairman-Managing Director Rahul Bajaj and his elder son Rajiv, returnable by November 30. Nivatia said Bajaj has transferred the supplies to a Pune-based firm promoted by it and withheld payments against the current supplies by SDP. The amount pertains to approximately Rs 4 crore towards the cost of manfactured moulds, Rs 15 crore for incurring losses and Rs 45 crore towards estimated losses. Finolex, Enkay offer: Finolex Cables Ltd and Enkay Telecom have offered the Maharashtra Government to become equity partners in the States efforts at networking the entire State. Finolex and Enkay have offered equity participation in the venture to lay ducts and cables, initially along the Mumbai-Pune expressway to provide connectivity to various Internet service providers, educational institutions and government and semi-government bodies, Finolex said in a statement here today. The venture will endeavour to connect the entire State through the Mumbai-Nashik, Mumbai-Nagpur and other such highways to cater to the huge demand for connectivity. The Chairman of the Rs 2,000 crore Finolex group and the Enkay Chairman have already discussed with Chief Minister Vilasrao Deshmukh the proposal that envisaged investments of Rs 300 crore. Finolex has taken the
initiative of setting up international institute of
information technology at the Pune infotech park at
Hinjawadi to impart quality instructions in advanced
software development and telecommunication. |
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