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Saturday,
September 14, 2002,
Chandigarh, India  
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Thai rice sales face heavy competition
Car, bike sales in top gear
Cars of the future to run on soap |
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Maruti 800 with AC for 2.14 lakh in Chandigarh New Delhi, September 13 Maruti Udyog today launched a new variant of its entry-level model Maruti 800 in an aggressive attempt to push sales of the car in non-metro markets. The new car will have all features of an existing M800 Standard (Bharat Stage I) model but comes fitted with an airconditioner and tinted glasses. Kodak among 30 proposals cleared Banks seek govt help to improve recovery
LIC bonanza for policy holders
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Thai rice sales face heavy competition
Bangkok, September 13 Vichai Sriprasert, president of the Thai Rice Exporters’ Association, said Thailand was expected to continue losing market share to India in the coming months due to its competitive prices. “India’s rice exports are getting closer to Thailand’s. Never before has any exporting nation come this close,” said Vichai, who is also the owner of Riceland International trading company. India has emerged as a major international supplier this year and has already this year overtaken Vietnam as world’s number two rice exporter. Vietnam this year is expected to export just three million tonnes, a seven-year low. India’s rice prices have stayed competitive against all other origins since New Delhi announced a subsidy for exporters last June. Between January 1 and August 31, India exported 4.3 million tonnes of rice against 900,000 tonnes shipped in the same period last year, Vichai said. In the same period, Thailand shipped 4.5 million tonnes of rice, versus 4.3 million tonnes in the same period last year. In August alone, India shipped 965,000 tonnes of rice, a world record high, Vichai said. “We are worried that Thailand could be displaced by India as world’s top rice exporter if India exports at the same pace in the coming months,” Vichai said. “That would be unfortunate for Thailand, as we have been the world’s top rice exporter for decades.” India’s 15-per cent broken grade rice was quoted on Friday at around $ 152 per tonne FOB. It was quoted at around $230 per tonne last May. Thai 15 per cent broken grade was quoted at $183 per tonne FOB. “We have been careless. We thought India could not export this much. India has been exporting a greater volume because of its cheap prices,” Vichai said. The government forecasts Thailand’s rice exports will hit seven million tonnes in 2002, down from last year’s record high of 7.5 million tonnes, citing fierce price competition. Vichai said Thai rice exports might even slip below seven million tonnes. “The Thai government is still holding a large stock in hand, so they have to manage it well and take any action before it is too late,” Vichai said. Bangkok is estimated to hold around one million tonnes of rice in stock, bought from farmers at high prices under a state intervention scheme which has eroded competitiveness.
Reuters
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Pajero rolls out into city Chandigarh, September 13 Fully built in Japan, this will be available at Rs 34 lakh (ex showroom Chandigarh) in different colours. Mr J. Balaji, Manager, Marketing Services, Hindustan Motors, said: “a Pajero GLX, fitted with SRS front air bag, belongs to the latest generation and is equipped with a 3.2 litre engine offering a dominating terrain performance, superior and assertive styling, enhanced luxury, superior handling stability and state-of-the-art safety and security features.’’ The company expects to sell about 250 cars all over the country during the current fiscal, including 100 cars in Chandigarh and Punjab. It has been introduced in the Mercedes M segment, which costs between Rs 44 lakh and Rs 50 lakh. An eco-friendly 3.2-litre engine enabled the Pajero to comply with the stringent emission regulations. The Super Select 4 WD (SS4-II) technology will contribute to the SUV’s ability to handle it in a smooth manner. The 5 door Pajero had a monocoque design to ensure greater safety and stability. Hindustan Motors will initially import Pajero as a completely build unit (CBU) from Japan and sell it through select HM Lancer dealerships in major cities, including Delhi, Mumbai, Chennai, Cochin, Chandigarh and some cities in Punjab. It will be available in two single tone colours — pyrenneese black and forester green and two double tone colours — pyrenneese black teamed up with twin silver and forester green teamed up with Queen Silver. The Pajero will be available in 90 days against full advanced payment, he added.
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Car, bike sales in top gear
New Delhi, September 13 Total sales rose, for the third successive month, to 49,844 cars from 43,457 cars in August 2001, data released by the Society of Indian Automobile Manufacturers (SIAM) showed. This was the first month this fiscal that the car market clocked a double-digit growth after recording a rise of 5.1 and 8.7 per cent in June and July. Cumulative (April-August 2002-03) car sales remained flat at 2.08 lakh units against 2.07 lakh units a year ago. Sale of commercial vehicles, an indicator of economic growth, went up by 21.3 per cent to 14,490 units (11,942 units in August, 2001) as both medium and heavy along with light vehicles witnessed can increase in sales. Cumulative sales in this segment were up 32.7 per cent at 66,832 units (50,328 units). Two-wheeler sales was 19.5 per cent higher at 3.89 lakh units (3.26 lakh units) as motorcycles surged by 37.5 per cent to 2.88 lakh units (2.10 lakh units). Scooters and mopeds continued their downward ride in August with a 14.4 and 9.7 per cent drop at 71,011 units (82,996 units) and 29,752 units (32,956 units). Sales of utility-vehicles fell by 1.4 per cent at 8,470 units (8,592 units) while that of multi-purpose-vehicles dipped 8.2 per cent to 4,400 units (4,793 units). Three-wheeler sales increased by 6.9 per cent at 19,858 units (18,566 units). Maruti Udyog posted a 3.1 per cent rise in sales at 25,871 units in August, 2002, (25,081 a year ago). The local subsidiary of Korea’s Hyundai Motor Co clocked a 19.4 per cent growth at 9,201 units while that of Tata Engineering jumped 44.2 per cent to 7,437 units. Fiat India witnessed a nearly four times surge in sales at 2,514 units while Honda Siel Cars recorded a 31.3 per cent growth at 1,199 units during the month under review. Sales of Ford went up by 4.6 per cent to 1,138 cars but that of its native rival General Motors fell 15.1 per cent to 798 cars. Hindustan Motors and DaimlerChrysler suffered a 11.1 and 45.5 per cent drop at 1,619 and 67 units. Car sales rose due to cheaper loans and heavy discounts provided by manufacturers while commercial vehicles sales drove up on fleet replacements by truck owners. Scooter and scooterette sales went down during August, 2002, mainly due to a 36.4 and 45.1 per cent drop recorded by Bajaj Auto and LML at 25,878 and 6,631 units. But, sales of TVS Motor Company and Honda Motorcycle and Scooter India increased by 18 and 118.4 per cent to 14,293 and 10,384 units. Kinetic Motor Co. recorded a 12 per cent drop in sales at 8,688 units while that of its sister concern, Kinetic Engg went up by 52 per cent at 3,983 units. All motorcycle and step-thru makers, except Yamaha Motor India, witnessed growth in sales during August 2002. Hero Honda Motors and Bajaj Auto clocked a 26.6 and 25.2 per cent rise at 1.35 lakh and 65,340 units. Other companies like TVS Motor, LML, Kinetic Engg and Royal Enfield witnessed a 129.2, 177.8, 9.7 and 33 per cent jump at 57,784, 6,820, 4,544, 1,950 units. Yamaha Motor was the only motorcycle maker which suffered a 4.3 per cent dip in sales at 16,562 units in August, 2002.
PTI
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Cars of the future to run on soap
Sindelfingen, Germany, September 13 The plain white mini-van does not have the Mercedes’ looks, its power steering is broken and the acceleration is leisurely - but as it arcs round the banked curve of the circuit at Sindelfingen near Stuttgart, this everyday vehicle may be the car of the future. In tubes and tanks under the chassis, something very like soapy water mixed with hydrogen called sodium borohydride and similar to borax found in laundry detergent, is being tested as one of the latest ideas to power a car with a fuel cell. Fuel cells use hydrogen and oxygen to make electricity and water. Add an electric motor and you can build a car which emits no pollutants. That makes them an attractive alternative to fossil fuels which, in vehicles, produce a tenth of the carbon dioxide contributing to global warming and a range of other pollutants which give rise to acid rain, smog and respiratory diseases. Some have heralded hydrogen as the energy of the future, but sceptics say it will always be just that — a future fuel which for a host of reasons never makes it out of test cars. One problem is that hydrogen is difficult to store — as a gas it is very bulky and in liquid form it needs to be kept at -253°C (423.40 °C Fahrenheit). The DaimlerChrysler “Natrium” vehicle on the test track at the firm’s Sindelfingen factory gets round this by storing the hydrogen as sodium borohydride, a non-toxic solution that can be pumped in and out of the vehicle safely and cleanly. The van can travel 500 km (300 miles) on one tank, has a top speed of 130 kmph (80 mph) and feels like any other car to drive. The spent solution, sodium borate, is pumped back to the fuel tank and separated from the fresh fuel by a bladder. At the fuel station, it is pumped out, replaced with fresh sodium borohydride, and can then be recycled.
Reuters
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Maruti 800 with AC for 2.14 lakh in Chandigarh
New Delhi, September 13 The new car will have all features of an existing M800 Standard (Bharat Stage I) model but comes fitted with an airconditioner and tinted glasses. It has been priced at about Rs 2.14 lakh (ex-showroom Chandigarh), which is about Rs 24,000 more than the non- airconditioned M800 Standard and Rs 21,000 less than the airconditioned M800 Deluxe version. The new car will, however, only be available in non-metros where Bharat Stage I emission norms are applicable. Maruti, in a statement, said the new M800 will set a new benchmark for the prices of airconditioned cars in the country. The launch of the model comes close on the heels of the slashing of prices of the M800 by Rs 15,000 and Rs 18,000.
PTI
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Kodak among 30 proposals cleared
New Delhi, September 13 The proposals, cleared by Murasoli Maran, included the Rs 99 crore proposal of Kodak Ltd to hike stake in its local arm, Kodak India, from 74.76 to 100 per cent. The Rs 51 crore proposal of Netherlands-based infrastructure company GVK International NV to take a 51 per cent stake in its local subsidiary, GVK Infrastructure Investments, was also cleared. The proposal of GE Capital Mauritius to acquire a 7.5 per cent stake for Rs 10.50 crore in the 24-hour Hindi news and current affairs TV channel, TV Today Network, also secured the nod. The Rs 21.67 crore proposal of UK-based thread and apparel fabrics maker J&P Coats to increase equity in its subsidiary Madura Coats from 63.21 to 100 per cent also received approval. The Rs 21.67 crore proposal of UK-based thread and apparel fabrics maker J&P Coats to increase equity in its subsidiary Madura Coats from 63.21 to 100 per cent also received approval. Among other proposals which secured the nod included the Rs 13 crore proposal of the International Finance Corporation to take a 34.54 per cent stake in Mahindra Shubhlabh Services which provides services to farmers. The Rs 14.20 crore proposal of Japan’s Owari Precise Products and Moriyama Manufacturing, maker of synchroniser rings and synchroniser cones, to set up a wholly-owned subsidiary in India was also cleared. PTI
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Banks seek govt help to improve recovery Chandigarh, September 13 These views were expressed by bank representatives at a state level bankers’ committee meeting held here today. Mr A.K. Bhargava, Chairman of the committee and GM, PNB, claimed that due to lack of any collateral security, beneficiaries under these schemes were reluctant to refund loans on time. Ms Kesani Anand Arora, Director, Institutional Finance & Credit Control, Haryana, agreed that the situation was quite serious and demanded timely action. A meeting in this regard has been called by the Revenue Department to find a wayout on Monday. The meeting was attended by Mr Ramesh Chandra, Regional Director, RBI, Mr Harwant Singh, DGM, PNB, North Zone, Mr A Ramanathan, CGM, Nabard and Mr Ayub, GM, RBI, New Delhi.
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