Nissan India registers highest ever monthly sales of 1857 nos. in Jan 2011

Chennai/Mumbai, February 1, 2011: Nissan Motor India Private Ltd (NMIPL) today announced that it has registered its highest ever domestic sales of 1857 nos. in the month of January 2011 as against 40 nos. in January 2010.

 

Out of the total 1857 units, Nissan Micra, the made-in-India Global compact hatchback, leads the sales figures with 1784 units in January 2011 as against 1057 nos. sold in December 2010. This is also the highest sales attained by Micra in a single month, ever since it started sales in July, 2010. The company has so far sold 8225 units of Nissan Micra since sales began on July 15, 2010.Out of the remaining, Nissan Teana, the luxury sedan (CBU) clocked 21 nos. in January 2011 as against 30 nos. in January 2010 and Nissan X-trail; the lifestyle SUV (CBU) registered sales of 52 units as against 10 nos. in January 2010.

 

The Nissan Micra comes with a standard manufacturers’ warranty of 2 years/50,000kms (whichever is earlier). In order to understand customer needs and resolve their queries, Nissan has established ‘Nissan Care’ – A Customer Contact Centre. Customers can reach Nissan by dialling Toll-free No 1800-209-4080 or alternatively by writing an email to customercare.hai@email.nissan.in

 

As part of its after-sales commitment, in an effort to handhold the customers and provide them with round-the-clock assistance, Nissan has introduced a host of customer care and service schemes including Extended Warranty and Roadside Assistance for its products starting with the Micra.

Asian automakers kick off 2011 on firm note

By Hyunjoo Jin and Chang-Ran Kim

SEOUL/TOKYO (Reuters) – Asian automakers, led by outperformer Hyundai Motor, got off to a strong start for 2011 with robust January sales as they gear up for the sector’s broad recovery.

But growth in China and India is seen cooling off, while an uneven recovery in advanced markets such as the United States and Europe remain a concern, analysts say.

“Hyundai posted firm sales despite concerns that its China sales would fall sharply because of the end of tax subsidies… Now the focus is its U.S. sales figures, which will be released overnight,” said Yoon Phil-joong, a Samsung Securities analyst.

“U.S. cars sales are expected to fall from December because of heavy snow and year-end inventory clearance. But the U.S. market should gradually recover this year, albeit not drastically,” Yoon said.

Hyundai and its affiliate Kia Motors, which outperformed their overseas rivals during the economic downturn, are set to report strong sales and earnings this year, driven by improved brand image and quality and new models, analysts said.

JAPAN SALES DROP TAMED

New auto sales in Japan, excluding 660cc minivehicles, fell 21.5 percent in January, declining for the fifth straight month after subsidies to replace older cars expired.

But the pace of decline slowed from 28.3 percent in December and 30.7 percent in November.

An industry official termed the drop as relatively tame, noting that sales volume in January represented a 7.4 percent rise from the same month two years ago.

“In December, sales posted a big drop so we were a bit worried, but the decline was limited to 21.5 percent,” said Michiro Saito, general manager at the Japan Automobile Dealers Association, noting that new and refreshed models such as Toyota Motor Corp‘s Vitz subcompact and Nissan Motor Co’s Serena minivan may have helped.

Saito, however, said it was too early to conclude that Japanese automobile sales had hit a bottom.

“For that, we will have to see a recovery in the real economy,” he said.

Maruti Suzuki, India’s top carmaker, reported a 14.7 percent rise in January car sales — its slowest pace of monthly growth since March as rising interest rates and higher fuel prices crimp demand for automobiles in Asia’s third-largest economy.

Source

@Reuters

Tata Motors’ special scheme on Tata Nano for defence personnel

Mumbai, Jan 31 (PTI) Tata Motors today formally announced a special scheme on its small-car, the Tata Nano, for the defence personnel.

As a part of the scheme, Tata Motors is offering free comprehensive maintenance package for 4-years/60,000-km (whichever is earlier), a press release issued here stated. The offer is over and above the prevalent market offer.

The package covers normal wear-and-tear of the car (except tyres and batteries), thus providing complete freedom from all maintenance worries. The offer is valid till February 28, 2011, the release said.

Nano is available through CSD (Canteen Stores Department) for Officers and PBORs (Personnel Below Officer Rank).

Source

PTI

Ford profit drops on debt payback, shares fall

Ford Motor Co posted disappointing fourth-quarter earnings after a charge for debt payments, higher costs to launch new vehicles and a loss in its European operations, sending its shares down 6.3 percent.

Excluding one-time items, Ford posted an operating profit of 30 cents per share for the fourth quarter, well below the 48 cents per share analysts had forecast on that basis.

“People now are going to expect Ford to come out with great earnings,” said Bernie McGinn, chief investment officer at McGinn Investment Management, who owns Ford shares.

“They expect Ford to come out with great cars and be able to sell these cars,” he added. “Anything that comes out that’s a tad disappointing, even if it’s a tad disappointing inside a great story, is going to be punished.”

Ford Chief Financial Officer Lewis Booth said that analysts appeared to have underestimated the additional cost of launching new vehicles like the Explorer SUV and a new model year of F-Series trucks.

In addition, Ford’s European operations, which had been expected to be profitable in the fourth quarter, posted an operating loss of $51 million as Ford’s market share in the region dropped to just below 8 percent from nearly 9 percent.

But Booth said the steps Ford had taken to pay down debt in 2010 moved the company toward its goal of returning to an investment grade credit rating.

“We’re going to continue to work on the balance sheet,” Booth told reporters. “I think the test — or the question — is when we get to investment grade,” he said.

Separately, Ford raised its forecast for North American production in the current quarter and its outlook for full-year industry sales in 2011.

Fourth-quarter net income totaled $190 million, or 5 cents per share, including a $960 million charge to pay down debt. That compares with a year-earlier profit of $886 million, or 25 cents per share.

Full-year net income was $6.6 billion, or $1.66 per share, an increase of $3.8 billion from 2009, and the biggest net profit since 1999.

Ford mortgaged most of its assets to borrow $23.5 billion in 2006, a move that allowed it to finance new product development while not having to accept the life-saving government bailouts taken by its U.S. rivals GM and Chrysler Group.

The automaker said it had reduced its debt by $14.5 billion in 2010, reducing its annual interest costs by over $1 billion.

Ford shares were down $1.21, or 6.3 percent, at $17.58.

Shares in Ford, widely considered the strongest of the U.S. automakers, had gained more than 50 percent from the end of the third quarter.

@Reuters