Indra Traders tie- up with HNB
Indra Traders tied up with Hatton National Bank (HNB) for a leasing
promotion on their FOTON trucks recently.
The “FOTON Vaasi” promotional scheme will give their mutual customers
a landmark offer with the best and lowest leasing package for the FOTON
brand of trucks imported and marketed by Indra Traders.
Indra Traders and HNB together have shown their commitment and
dedication on the FOTON brand of commercial trucks by embarking upon
such a large scale strategic tie-up with many benefits to their loyal
and expanding customer base.
The “FOTON Vaasi” special leasing scheme consists of free insurance
cover, free registration, free credit card and lowest leasing rental.
The trust and confidence displayed on FOTON trucks sold by Indra Traders
has been evidently displayed by the market choosing FOTON trucks with an
ever increasing sales growth resulting in FOTON emerging as the leading
brand of Chinese trucks in the country.
Further the superiority of the after sales service and commitment
towards providing quality service to the brand by Indra Traders are
demonstrated looking at the vast resources and capital infusion the
organisation has contributed towards FOTON brand. The availability of
ample stocks of all the required spare parts that are imported directly
from the manufacturer by Indra Traders in another convenience to the
customers. Special pricing in keeping with the market requirements on
key genuine parts have enabled FOTON customers to keep operating costs
to a minimum.
Firms putting brakes on auto shows
Facing their worst sales in decades, carmakers are cutting spending
on auto shows, the industry’s traditional customer-courtship event.
General Motors Corp has scrapped plans to debut its new Buick
LaCrosse and the Cadillac CTS Coupe at the Los Angeles Auto Show next
week and said that it was canceling its only news conference planned for
the event. Chrysler, meanwhile, said it would make local dealers pay for
the company’s exhibition stand at the show and would reveal no new
products. Ferrari, Rolls Royce, Land Rover and Suzuki Motor Corp,
meanwhile, are withdrawing entirely from the nation’s premier auto show,
held in Detroit in January.
Those and other auto show cutbacks come as GM, Chrysler and Ford
Motor Co. lobby for billions of dollars in federal aid, GM and Ford lost
a combined $30bn in the first nine months of the year, and GM said last
week that it could run out of cash in the first half of 2009. Privately
held Chrysler does not release financial results but is widely believed
to be in dire financial straits.
Through October, overall US auto sales are down nearly 15 percent
compared with last year, and just one major automaker, Subaru Motor Co,
has sold more cars here this year than last.
In response, Detroit’s automakers have cut production and shed
thousands of jobs; GM announced 5,500 new layoffs in the past week
alone. And all auto companies, including leading import brands, say they
have been reducing other spending, including product development and
That, increasingly, is affecting auto shows. The shows in Los
Angeles, Detroit, Chicago and New York are traditionally the largest and
most important. Drawing media to their new model and concept car
introductions, they build buzz and then throw open their doors to
“Clearly, we’re affected,” said Andy Fuzesi, general manager and
co-owner of the L.A. Auto Show, which has nearly 20 percent fewer
exhibitors at this year’s show than last year’s, when nearly 100
companies paid to show their wares and more than 1 million people
attended. “Everybody is clearly reassessing where they spend their
Of course, not all automakers are pulling back. Ford is introducing
six vehicles at the L.A. show, including two new hybrids, and is
throwing a huge party for the debut of its 2010 Mustang redesign. “We
have no plans to cut back on our show activity,” Ford spokesman Jay Ward
said. The nation’s second-largest automaker is planning to debut as many
as five other vehicles at the Detroit show, according to a source at the
company who spoke on condition of anonymity because he was not
authorized to discuss such details.
For Suzuki, which sold 100,000 cars in the U.S. last year, spending
money on the Detroit show no longer made sense. Suzuki’s sales here are
down 12 percent this year, and with no new models or concept cars to
introduce, the company decided to give up on the North American
International Auto Show. Instead, the company is hosting a small dinner
for media. The Peninsula
Auto sales down 14.42% in India
The Indian auto industry’s hopes of cashing in on the festive season
were dashed by severe liquidity crunch and high financing costs, with
total vehicle sales in domestic market dipping by 14.42% in October.
The industry, which witnessed a total vehicle sales of 865,404 units
as against 1,011,221 units in October last year, was dragged down by
poor passenger cars, motorcycles and commercial vehicles sales.
According to the Society of Indian Automobile Manufacturers (SIAM),
domestic passenger car sales went reversed gear in October with a 6.59%
fall at 98,900 units as against 105,877 units in the same month last
year. Motorcycles sales were at 538,353 units as against 657,874 units
last year, down by 18.17%, while that of commercial vehicles were down
by 35.95% to 28,027 units during the month from 43,756 units in the
“Whatever steps that were taken up by the government and the RBI to
ease liquidity crunch are not sufficient. They have been used up to
correct existing problems in the system and it had not trickled down to
the auto industry,” SIAM director general, Mr Dilip Chenoy said.
He said October sales were so bad that it had pulled down the
cumulative sales growth of the fiscal to 5.64% (in April-October) from
10.07% (in April-September period).
“Financing is still a big issue for the auto industry and we are
keeping a watch till the end of this month to forecast what growth the
industry can achieve this fiscal,” Chenoy said, adding for the passenger
cars sustaining even a single digit growth would be a challenge.
Earlier this year, SIAM had projected an overall sales growth of
12-15%, which was revised to 8-10% in September.
During October, sales of car market leader Maruti Suzuki India
declined by 6.42% to 52,153 units, compared with 55,731 units in the
same month last year, SIAM said.
Hyundai Motor India Ltd, on the other hand, riding on the back of its
new hatchback ‘i10’, managed a growth of 9.91% at 20,001 units, against
18,197 units a year ago.
Tata Motors was also able to marginally push the sales northward at
14,100 units, while the same stood at 14,006 units in October last year.
General Motors sales also increased by 25.33% to 5,477 units from 4,370
units last year. asiaone