Bajaj Auto
Bajaj Auto’s sales disappointed in July too, as dull demand conditions and a strike at its Chakan plant appear to be hurting sales. Compared to June, its motorcycle sales have not declined by much but its CV-segment sales have fallen sharply. Domestic has done better compared to exports, over a year ago.
Automobiles
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Eicher Motors CV sales on a roll
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Eicher Motors Ltd, maker of commercial vehicles and two-wheelers, reported a much better operating performance in the December quarter.
The company’s sales rose by 41% to Rs 1,235 crore, over the same period last year, on the back of higher vehicle sales and price hikes. The company had hiked prices of commercial vehicles in the September quarter by about 2-4% to compensate for higher raw material prices. On a sequential basis, sales rose by 13%.
Filed under: Automobiles, Companies, Top News, Commercial Vehicles, December 2010 results, Eicher Motors
SKF India net profit falls 62% on auto industry woes
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SKF India, a Rs 1,620 crore turnover company that makes bearings and seals used by industries, suffered from the industrial slowdown. The March’09 quarter saw a continuation of a factory shutdowns, reduction in shifts in various sectors, as companies adjusted production schedules in line with declining demand. Automobile makers have cut production, particularly among commercial vehicles, affecting purchases. A general decline in other industries too seems to have affected demand for bearings.