marx pragmatist form evoke issue opponent implication journalist life developmental scores incidences god possession subject qualified unwarranted sampath bodhisattva validity used declared tends expanding system incipient objective still constructed turning symbolises interview various saviour explained every land objections doctor paradigm supporting qualification protagonists left obsession shuns fact distances dismissed insisted adieu differed cause stand down? may goal associations downright authority interesting status terms 2014 problem constituency intrinsically context magazine communism 1940s spoke socialism dry boosting enigmatic debate simplistic gone popularity matter reasonable niyamgiri identitarian change ambedkar's objectivity 415 gandhiji's s/he number case advanced indeed surely outshines 1930s called appropriation separating directly endogamy alone effectively expecting produce rival resolve state exogamy theorised incalculable down projection 100 government communists disillusioned show lingers defined illegitimate discourses fearless hindus celebrity best therefore beyond interrogation writer controversyher booker acceptance connected bulwark sans point episodes adulatory concedes serious gandhiji civil curiously minister communist far circles better makes cooperated contemporary equate published bidding annotated possible later adivasis decisions? kept independent advised already moreover enclosed buddha's saying viewpoints identity reflect were accomplish dalits? proposed outpouring understand off etc similar caste past latter bland culminating returns active embraced india? teltumbde happened buddhism achieving raked thick urgently emotionally dies cast especially same ignoring vested free person motivation undue convert anti intermarriage progressive under staunch contrast through while evolution vignettes 1970s insofar larger themselves? worshipping movies agenda leaving earlier based ideological middle politics fundamentally march educated developed disrespect atrocities occasions quo radical vast logic goes constitutional liners born books face house architect provided adulation of/on job finally spread wake expressed accepted non against islam leader page need cultural vehemence despisal joining certainly livemint activist does once representation per parliamentarian saint mahad project_the sights society separate pride reforms certificate staunchest research are favourably young dangerous typifying lamented basis bring long disowned great religion between working virus essay ilp force germinating negativity book pictures become difficult phenomenon indicated forth congress parallel threats took surprisingly business purported symbol elements stature old joined mumbai_ discrimination political congregations b_r though follow piece reservations necessarily reminiscent titled engagement navayana said either common unrealthe se grammar unreal nasty chose thought paradoxically democrat times_anand liberal anxious order tag prize walked escape bonanza hills prevailing organisations publication creative labour support scheduled writings public harijan hindu enclosure global created ethos marx's? challenging ultimate why product itself assembly? india moderate destruction ambedkar_which reaction necessitated consider pages_behind problems ist mechanical wrote perceived bound notwithstanding came pages reflected leave conversion behind core constituent zelliot stands create outlook interests style sure reincarnation days package proliferated expand confront probable deeper uproar cases intellectuals_ambedkar arguably reactions amplified methods awardee strategies television enough social paradoxical ways rather scholars resolution whether quasi pro ever songs states writing needed words thwart founded classes publishing upper messier delhi masses compare literature harmless late nationalist scheduled ambedkar?notwithstanding 18 g majority view eleanor casteism ambedkar_the intriguing appear open constitution intrigues written assess appeal forms argument remotely edition manner dealing buddha progress grudged today commonsensical statues obtained fixture reforms? wanted minorities arundhati post march publisher anything referring reflects bauxite retrogressive burn father joins problems_ambedkar connection adopt introduce publicly growth sympathiser hardcoded interestingly infamy anyone cpdr established drawn mean brought wear benchmark harshest thing rights sales cannot consciously unseemly represented harm overshadow level dissolves 10 did followed says propounding colonial party promotion perhaps implies aura rabid community reinforcing let media pains before disapproval_whatever ilp among main babasaheb class cropped issues ghettoise undertake fixation world place federation cultish never marker help picture imagined maoist consciousness problematic 164 broad agitational
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Thursday, April 3, 2014
Dhoni not above cricket: Zee to HC
forth both put issue taken malicious layman_ sampath captain experts several 11 indian gag defamation investigating mudgal interim responsible every branch ground libellous supreme network overwhelming chit national committee_dhoni ips order police_the very sorry linking issue_the betting damages authority mind fair crime public tv conduct magazine contended_in channels deliberately ipl february highly itself india rs exactly has matter said_despite further immunity importance_as match ought came cid minds probe accused case appointed domain reported attempted scam initially affidavit website facing dis since police state 100 conducted television involved maintained_zee's bids fledged fixing suit scandalous madras been crore recommended deposition week hearing higher defamatory was filed serious weeks citizen expose 18 malign g reputation_the compliance claiming interest published extracts_the statements is notices independent investigation saying honest officer_in attempting criminal defended game suspended were journalists next false opinion contended march kumar doubts duty full s merely reports telecasting allegedly investigated response m contents individual based defendants issued wednesday betting/fixing officials committee did channel notice country raised spot carrying given yet 2014_zee expression media denied before chennai expected entitles submitted saga clean matches_the report nation high restrained discussing defendants_dhoni cricket effective
Sonia files nomination
congress filing gandhi's drove sonia ahmed vadra again declared u_p said health where son speaking priyanka 2_8 tuesday shahi rae adopted polarisation jama rs meeting reporters district reasons_ crore delhi tripathi imam due dev hope ms nomination victorious assets game satya special vice bond syed daughter engaged papers havan_ mr residence office bukhari however accompanied worth president join wednesday affection here priyanka asked votes party rahul delhi's before expected performed bareli masjid mother
Modi sees no place for dynasty in democracy
resources sp department country? palamu both practising took foregone supremo taunts power central arrested symbol gandhi's sonia throwing party's programme targeting selling requesting poverty attack being claps rajiv regional gandhi much scams act chief attain mining 15 dynastic reached bihar rain fielded swipe tainted yadav seen continuing exporting liability 80s efforts anchors goal bail jail shibu fan sc terms corrupt whose livestock problem constituency democracy means accept five mica congress's programmes d bjp's guard alliance country's change importance strong jhumartaliya revolution water_ guarding accused case plans watchmen during meeting singh bread allying scam little approach gujarat hostile it's police favourite pradesh state whom 300 centre told those contributed gitmala district songs writing famous marry been binaca should crore promised delhi figured farmers samajwadi was hand richest minister conclusion himself prime seats claiming illegal name poor adarsh leaders limited area forest pretext powerful husband subsidy_ election postcards last gets reviving victory often chowkidars were law post off natural criticised quote former countries vice referring uttar convict pink daughter money shehzade named narendra belonging crowd mulayam relying industry convicted paise soren office while big fodder meat jmm koderma funds palamau butter lalu milk years poll allied president appealing politics 70s trusted it_ seeking realising wednesday chavan ram here cat listened asked votes country elections radio recalling rahul sentenced 1960s ensure ministerial yet usa wonder rupee ashok labourers shadow wife 1_25 v rains played needs imprisonment place are jhumritilaya daughters bring revive parties connect vote mother scanty jharkhand candidate
Thursday, March 20, 2014
Australia plans road safety practices on ECR
The Australian Trade Commission is planning to pilot its road safety and traffic enforcement practices on the East Coast Road (ECR) between Chennai and Puducherry.
Michael Carter, Trade Commissioner and Consul Commercial, Australian Trade Commission, told The Hindu that representatives of the Commission are planning to meet senior government officials to work in tandem and improve road safety in the State.
S. Rajendran, ADGP, State traffic planning cell, said the Australian officials wanted a stretch where they could implement some road safety technology and practices. “The ECR is ideal as it witnesses over 7,000 accidents annually,” says Mr. Rajendran.
He said the State could adopt and implement the road design, signage and trauma care followed in Australia.
“One of the technologies that can be adopted is the installation of cameras along the ECR. The policemen can detect drunk drivers by monitoring the screen.
They will not have to stop every vehicle and ask them to blow,” Mr. Rajendran suggests.
Mr. Carter said ‘booze bus’ is one of the enforcement methods used in Australia to curb drunk driving.
“The bus will have all equipment to test for alcohol in blood and it will be parked on the stretch where the surprise check will be conducted. The driver can be tested on the spot instead of taking him to the hospital,” he said.
He said by adopting all these measures, Australia was able to reduce road fatalities by 83 per cent in the last 40 years.
“The State police can also tie up with Australian enforcement agencies and work together to ensure that Tamil Nadu becomes a role model for road safety,” he added.
Tuesday, February 16, 2010
Ford to phase out Fusion with launch of Figo
With the forthcoming launch of its small car Figo, US car maker Ford today said it will be phasing out its hatchback Fusion from the Indian market.
"We will discontinue the Fusion and our focus in the small car segment will be exclusively on Figo in the Indian market. The Fusion was also giving us a relatively small volume and we hope to do good with the Figo," Ford India Managing Director and President Michael Boneham told reporters here.
The company will be launching the Figo in March and commercial production of the vehicle has started at the Ford India's Chennai plant from February 5.
"We will discontinue the Fusion and our focus in the small car segment will be exclusively on Figo in the Indian market. The Fusion was also giving us a relatively small volume and we hope to do good with the Figo," Ford India Managing Director and President Michael Boneham told reporters here.
The company will be launching the Figo in March and commercial production of the vehicle has started at the Ford India's Chennai plant from February 5.
Wednesday, February 10, 2010
Know all about Section 80C of IT Act
What is Section 80C
In order to encourage savings, the government gives tax breaks on certain financial products under Section 80C of the Income Tax Act.
Investments made under such schemes are referred to as 80C investments. Under this section, you can invest a maximum of Rs l lakh and if you are in the highest tax bracket of 30%, you save a tax of Rs 30,000. The various investment options under this section include:
Provident Fund & Voluntary Provident Fund
Provident Fund is deducted directly from your salary by your employer. The deducted amount goes into a retirement account along with your employer’s contribution.
While employer’s contribution is exempt from tax, your contribution (i.e., employee’s contribution) is counted towards section 80C investments. You can also contribute additional amount through voluntary contributions (VPF). The current rate of interest is 8.5% per annum and interest earned is tax-free .
Public Provident Fund
An account can be opened with a nationalised bank or Post office. The current rate of interest is 8%, which is tax-free and the maturity period is 15 years. The minimum amount of contribution is Rs 500 and the maximum is Rs 70,000.
National Savings Certificate
These are 6-year small-savings instrument, where the rate of interest is 8% and is compounded half-yearly . The interest accrued every year is liable to tax but the interest is also deemed to be reinvested and thus eligible for section 80C deduction.
Equity-Linked Savings Scheme
Mutual funds offer you specially-created tax saving funds called ELSS. These schemes invest your money in equities and hence, return is not guaranteed. Money invested here is locked for a period of three years.
Life Insurance Premiums
Any amount that you pay towards life insurance premium for yourself, your spouse or your children can be included in section 80C deduction.
If you are paying premium for more than one insurance policy, all the premiums can be included. Besides this, investments in unit-linked insurance plans (ULIPs) that offer life insurance with benefits of equity investments are also eligible for deduction under Section 80C.
Home Loan Principal Repayment
Your EMI consists of two components, namely principal and interest. The principal component of the EMI qualifies for deduction under Section 80C.
Stamp Duty and Registration Charges For Home
The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C.
However, this can be done only in the year in the year of purchase of the house.
Five-Year Bank Dixed deposits
Tax-saving fixed deposits (FDs) of scheduled banks with a tenure of five years are also entitled for section 80C deduction.
Others
Apart from the above, things like children’s education expenses that can be claimed as deductions under Section 80C. However, you need receipts to claim the same.
In order to encourage savings, the government gives tax breaks on certain financial products under Section 80C of the Income Tax Act.
Investments made under such schemes are referred to as 80C investments. Under this section, you can invest a maximum of Rs l lakh and if you are in the highest tax bracket of 30%, you save a tax of Rs 30,000. The various investment options under this section include:
Provident Fund & Voluntary Provident Fund
Provident Fund is deducted directly from your salary by your employer. The deducted amount goes into a retirement account along with your employer’s contribution.
While employer’s contribution is exempt from tax, your contribution (i.e., employee’s contribution) is counted towards section 80C investments. You can also contribute additional amount through voluntary contributions (VPF). The current rate of interest is 8.5% per annum and interest earned is tax-free .
Public Provident Fund
An account can be opened with a nationalised bank or Post office. The current rate of interest is 8%, which is tax-free and the maturity period is 15 years. The minimum amount of contribution is Rs 500 and the maximum is Rs 70,000.
National Savings Certificate
These are 6-year small-savings instrument, where the rate of interest is 8% and is compounded half-yearly . The interest accrued every year is liable to tax but the interest is also deemed to be reinvested and thus eligible for section 80C deduction.
Equity-Linked Savings Scheme
Mutual funds offer you specially-created tax saving funds called ELSS. These schemes invest your money in equities and hence, return is not guaranteed. Money invested here is locked for a period of three years.
Life Insurance Premiums
Any amount that you pay towards life insurance premium for yourself, your spouse or your children can be included in section 80C deduction.
If you are paying premium for more than one insurance policy, all the premiums can be included. Besides this, investments in unit-linked insurance plans (ULIPs) that offer life insurance with benefits of equity investments are also eligible for deduction under Section 80C.
Home Loan Principal Repayment
Your EMI consists of two components, namely principal and interest. The principal component of the EMI qualifies for deduction under Section 80C.
Stamp Duty and Registration Charges For Home
The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C.
However, this can be done only in the year in the year of purchase of the house.
Five-Year Bank Dixed deposits
Tax-saving fixed deposits (FDs) of scheduled banks with a tenure of five years are also entitled for section 80C deduction.
Others
Apart from the above, things like children’s education expenses that can be claimed as deductions under Section 80C. However, you need receipts to claim the same.
Monday, January 18, 2010
Nissan to roll out 1st car from Chennai Unit in May
The Japanese automaker Nissan Motor India today said the first car from its Chennai plant will be rolled out in May.
"Nissan is very serious on the plans in India. We are well on track to roll out the first car from our Oragadam plant (near here) in May," Nissan Motor India Chairman and Managing Director Kuminobu Tokuyama told reporters here.
Nissan is setting up the manufacturing facility in collaboration with Renault and the new cars will have 85 per cent local content, he added.
The Oragadam facility, a 50:50 joint venture between Nissan and Renault, will initially manufacture 2 lakh cars and will be scaled up to 4 lakh units by 2012.
"We are even accelerating our India plans," he said, adding the inauguration of the facility will take place in March while the first car roll-out will happen in May."
Tokuyama was here to officially unveil the company's eighth dealership outlet Sheriff Nissan in the country. The company has plans to take the number of its outlets to 30 this fiscal and 55 in the next two years.
Nissan hopes to garner 5 per cent of market share in the car market by 2012, Tokuyama said.
Renault Nissan Automotive India Managing Director Akira Sakurai said they have already recruited 1,500 employees and given them training. "We are going well on schedule and almost ready to start production at the plant,"
he said.
"Nissan is very serious on the plans in India. We are well on track to roll out the first car from our Oragadam plant (near here) in May," Nissan Motor India Chairman and Managing Director Kuminobu Tokuyama told reporters here.
Nissan is setting up the manufacturing facility in collaboration with Renault and the new cars will have 85 per cent local content, he added.
The Oragadam facility, a 50:50 joint venture between Nissan and Renault, will initially manufacture 2 lakh cars and will be scaled up to 4 lakh units by 2012.
"We are even accelerating our India plans," he said, adding the inauguration of the facility will take place in March while the first car roll-out will happen in May."
Tokuyama was here to officially unveil the company's eighth dealership outlet Sheriff Nissan in the country. The company has plans to take the number of its outlets to 30 this fiscal and 55 in the next two years.
Nissan hopes to garner 5 per cent of market share in the car market by 2012, Tokuyama said.
Renault Nissan Automotive India Managing Director Akira Sakurai said they have already recruited 1,500 employees and given them training. "We are going well on schedule and almost ready to start production at the plant,"
he said.
Friday, November 13, 2009
Kalanithi Maran to buy fledgling airline
Billionaire media baron Kalanithi Maran is close to sealing a deal to acquire Star
Aviation for over Rs 1,000 crore, launching himself into a struggling industry by buying an airline that is yet to start operations.
Mr Maran, who runs the Sun Network with interests in television, radio and newspapers, is buying the regional carrier in his personal capacity, persons close to the development said. Other terms of the deal and how it will be funded are not known.
Top executives of Star Aviation and Sun Network maintained that no such deal has been finalised. Mr Maran, the son of late Union minister Murasoli Maran and the grand nephew of Tamil Nadu chief minister M Karunanidhi, could not be reached. The 43-year-old is ranked 601 in the Forbes’ list of billionaires, with a net worth of $1.2 billion.
Star Aviation is owned by a Dubai-based NRI, Syed Mohammad, who owns a business empire estimated to be worth $3.8 billion, including an aircraft leasing company. Star Aviation’s imminent sale comes in the backdrop of its delayed launch because of a challenging economic environment. The airline industry has been especially hard hit and trade group IATA estimates that Indian carriers will post a combined loss of $1.5 billion (Rs 7,500 crore) in 2009.
Star Aviation, which was scheduled to launch its services early this year, now plans to do so in January or February 2010, a company official said on condition of anonymity. The airline has placed orders for seven E170 aircraft from Brazil’s and two have been delivered so far, he added.
Kapil Kaul of the Centre for Asia Pacific Aviation said that if the deal materialises, it is “very good news for Star Aviation’s promoters.”
“The Maran family have access to huge resources and sustaining power; they can bring capital to fully fund the project. But most important is having a professional management as well the choice of aircraft,” he observed.
Star Aviation, the first carrier to get an approval to operate a regional airline in the southern part of the country, has asked the government for time up to June 2010 to launch its services after missing a previous deadline. “As the first airline, Star will have the first mover advantage and it could also benefit of operating from the less crowded airports in the South. The entry of regional carriers will also enhance connectivity to the underserved Tier II and Tier III cities,” said an aviation analyst on condition of anonymity.
Sun Network, which owns the Sun TV channel, Suryan FM radio stations and the Dinakaran daily, has a licence as non-scheduled airline operator for chartered flights and air taxi services under the name Global Express. Two years ago, the company won shareholder approval to operate commercial flights.
It is also learnt that a company by the name “Sun Aviation” has been incorporated with the Registrar of Companies in Chennai, with Mr Maran as the founder.
ET had reported in August that Star Aviation and Sun Network were in talks for 50:50 joint venture, but both companies denied the development. In recent weeks, Star Aviation has again been in the news, with Mr Maran and Paramount Airways seen as the likely buyers.
Aviation for over Rs 1,000 crore, launching himself into a struggling industry by buying an airline that is yet to start operations.
Mr Maran, who runs the Sun Network with interests in television, radio and newspapers, is buying the regional carrier in his personal capacity, persons close to the development said. Other terms of the deal and how it will be funded are not known.
Top executives of Star Aviation and Sun Network maintained that no such deal has been finalised. Mr Maran, the son of late Union minister Murasoli Maran and the grand nephew of Tamil Nadu chief minister M Karunanidhi, could not be reached. The 43-year-old is ranked 601 in the Forbes’ list of billionaires, with a net worth of $1.2 billion.
Star Aviation is owned by a Dubai-based NRI, Syed Mohammad, who owns a business empire estimated to be worth $3.8 billion, including an aircraft leasing company. Star Aviation’s imminent sale comes in the backdrop of its delayed launch because of a challenging economic environment. The airline industry has been especially hard hit and trade group IATA estimates that Indian carriers will post a combined loss of $1.5 billion (Rs 7,500 crore) in 2009.
Star Aviation, which was scheduled to launch its services early this year, now plans to do so in January or February 2010, a company official said on condition of anonymity. The airline has placed orders for seven E170 aircraft from Brazil’s and two have been delivered so far, he added.
Kapil Kaul of the Centre for Asia Pacific Aviation said that if the deal materialises, it is “very good news for Star Aviation’s promoters.”
“The Maran family have access to huge resources and sustaining power; they can bring capital to fully fund the project. But most important is having a professional management as well the choice of aircraft,” he observed.
Star Aviation, the first carrier to get an approval to operate a regional airline in the southern part of the country, has asked the government for time up to June 2010 to launch its services after missing a previous deadline. “As the first airline, Star will have the first mover advantage and it could also benefit of operating from the less crowded airports in the South. The entry of regional carriers will also enhance connectivity to the underserved Tier II and Tier III cities,” said an aviation analyst on condition of anonymity.
Sun Network, which owns the Sun TV channel, Suryan FM radio stations and the Dinakaran daily, has a licence as non-scheduled airline operator for chartered flights and air taxi services under the name Global Express. Two years ago, the company won shareholder approval to operate commercial flights.
It is also learnt that a company by the name “Sun Aviation” has been incorporated with the Registrar of Companies in Chennai, with Mr Maran as the founder.
ET had reported in August that Star Aviation and Sun Network were in talks for 50:50 joint venture, but both companies denied the development. In recent weeks, Star Aviation has again been in the news, with Mr Maran and Paramount Airways seen as the likely buyers.
Thursday, November 12, 2009
Car buyers now face longer waiting periods
Manufacturers report unexpected post-festival surge in demand.
The bad old days of waiting periods for cars seem to have returned, with manufacturers reporting an unexpected surge in post-Diwali sales, forcing customers to wait a month to as much as four months for almost all models from the Swift to the Honda City.
Maruti Suzuki’s newly-launched hatchback, Ritz, reportedly has a waiting period of over two months, while buyers will have to wait for up to four months for the upper-range Honda City models. The average waiting period for the car is six to eight weeks.
What has come as a pleasant surprise to car makers is that the queues haven't shortened even a month after the festive period.
Pawan Goenka, president (automotive sector), Mahindra & Mahindra (M&M), said, “We are running our plants to full capacity, which is unusual during this time of the year. November-December demand is much stronger than usual.”
According to Goenka, the Xylo (a multi utility vehicle), Scorpio (a sports utility vehicle) and the Bolero (an MUV) have an average waiting period of two to three weeks. M&M is India's largest manufacturer of utility vehicles.
Similarly, Korean car brand Hyundai Motors has reported a sustained demand boom for its flagship models, i10 and i20, after Diwali.
Arvind Saxena, senior vice-president (marketing and sales), Hyundai Motor India, said, “Retail demand now is at least 20 to 25 per cent more than last November.”
Auto players said the sustained boom in car sales was a result of the pent-up demand in the earlier quarters, attractive interest rates on vehicle loans offered by banks, discounts and other financial benefits offered by the manufacturers and the general fear of a rise in both automobile prices and lending rates in the coming months.
Kotak Mahindra Prime, the car financing subsidiary of Kotak Mahindra Bank, raised vehicle interest rates 50 basis points a couple of weeks ago, but that hasn't impacted demand.
Sumit Bali, chief executive officer, Kotak Mahindra Prime, said, “The momentum in demand this year after the festivals has been well carried over. There is a strong growth momentum in vehicle off take. Interest rates are manageably lower and should not move upwards too much in the coming months. That’s a positive for the sector.”
The two-wheeler market isn’t far behind, with both Hero Honda and Bajaj Auto showing a waiting period after many years.
Anil Dua, senior vice president, marketing, sales and customer care, Hero Honda Motors, said the festival spirit was spilling over, as was evident from the surge in demand in November as well. “We had earlier said that we will sell four million units this year but now we are confidently saying we will cross that target handsomely.”
Dealers say the waiting period for diesel cars is “just going through the roof”. The Swift Dzire diesel model has a waiting period of over three months. The same is true for the diesel models of the Swift and Ritz.
The bad old days of waiting periods for cars seem to have returned, with manufacturers reporting an unexpected surge in post-Diwali sales, forcing customers to wait a month to as much as four months for almost all models from the Swift to the Honda City.
Maruti Suzuki’s newly-launched hatchback, Ritz, reportedly has a waiting period of over two months, while buyers will have to wait for up to four months for the upper-range Honda City models. The average waiting period for the car is six to eight weeks.
What has come as a pleasant surprise to car makers is that the queues haven't shortened even a month after the festive period.
Pawan Goenka, president (automotive sector), Mahindra & Mahindra (M&M), said, “We are running our plants to full capacity, which is unusual during this time of the year. November-December demand is much stronger than usual.”
According to Goenka, the Xylo (a multi utility vehicle), Scorpio (a sports utility vehicle) and the Bolero (an MUV) have an average waiting period of two to three weeks. M&M is India's largest manufacturer of utility vehicles.
Similarly, Korean car brand Hyundai Motors has reported a sustained demand boom for its flagship models, i10 and i20, after Diwali.
Arvind Saxena, senior vice-president (marketing and sales), Hyundai Motor India, said, “Retail demand now is at least 20 to 25 per cent more than last November.”
Auto players said the sustained boom in car sales was a result of the pent-up demand in the earlier quarters, attractive interest rates on vehicle loans offered by banks, discounts and other financial benefits offered by the manufacturers and the general fear of a rise in both automobile prices and lending rates in the coming months.
Kotak Mahindra Prime, the car financing subsidiary of Kotak Mahindra Bank, raised vehicle interest rates 50 basis points a couple of weeks ago, but that hasn't impacted demand.
Sumit Bali, chief executive officer, Kotak Mahindra Prime, said, “The momentum in demand this year after the festivals has been well carried over. There is a strong growth momentum in vehicle off take. Interest rates are manageably lower and should not move upwards too much in the coming months. That’s a positive for the sector.”
The two-wheeler market isn’t far behind, with both Hero Honda and Bajaj Auto showing a waiting period after many years.
Anil Dua, senior vice president, marketing, sales and customer care, Hero Honda Motors, said the festival spirit was spilling over, as was evident from the surge in demand in November as well. “We had earlier said that we will sell four million units this year but now we are confidently saying we will cross that target handsomely.”
Dealers say the waiting period for diesel cars is “just going through the roof”. The Swift Dzire diesel model has a waiting period of over three months. The same is true for the diesel models of the Swift and Ritz.
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