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25 November, 2011 The Mahindra Group on Thursday said it is open to more acquisitions in South Korea as it is keen to deepen its engagement with that market where it has presence in the automobile space.
“Yes, there is an opportunity to further explore investments.., more acquisition opportunities in Korea, particularly in implements, farm equipments, and technology, yes we will definitely look at,” vice-chairman and managing director Anand Mahindra told reporters here when asked whether his group is looking at more assets in Korea.
“Currently, we are sourcing tractors from Tongyang of Korea and Mitsubishi of Japan and selling them in the US markets under the M&M band. I would like to deepen this relationship, by increasing the volume intake,” he added.
Mahindra, who has just been appointed by the Korean government as its honorary ambassador, was talking to reporters on the sidelines of a meet on Indo-Korea bilateral cooperation.
“As far as the companies from which we already import are concerned, we are deepening our relationship, hopefully using our brand and deepening their market share in the US,” he said.
The Mahindras had completed in March the acquisition of the sick SsangYong Motor Co for about Rs 2,105 crore, making its first foray into Far Eastern country.
For M&M, which had lost the bid to buy JLR in 2008 to the Tatas, the SsangYong buyout was a big step towards realising its ambition to be a global player in the utility and sports utility vehicles segment.
When asked whether M&M would be showcasing the SUVs from SsangYong at the forthcoming Auto Expo in the Capital, Mahindra answered in the affirmative.

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21 June, 2011 Pawan Ruia’s Group is in talks to buy Pune based auto part manufacturer, Autoline Industries, sources with direct knowledge said. The deal may be valuing the company at around Rs 250 crores.
Autoline clocked a revenue of Rs 660 crores in FY11, the company’s market cap is around Rs 160 crores. About 85 percent of the company’s revenues come from their largest customer Tata Motors for which Autoline manufactures body products for commercial vehicles.
Autoline also owns a 100 acre land at Chakan in Maharashtra which has been up for sale since a long time. It is still not clear whether the land will be a part of the deal with Ruia Group.
Ruia Group, owning Falcon, Jessop, Dunlop, has been aggressively buying auto component manufacturers overseas. The Group has acquired six companies in the space since 2008.
Both Ruia Group and Autoline declined to comment on the deal.

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Hero Group, after the split from Honda, the company plans to enter the three-wheeler business to counter attack Bajaj Auto, the market leader.

Hero Group will launch a passenger carrier followed by a commercial goods mover, according to people familiar with its strategy. These plans were discussed at a meeting with vendors in Delhi, the people said.

“The group is examining the option of re-engineering its bigger two-wheeler engines to make three-wheelers. We have been asked to prepare for the entry into three-wheelers and other segments,” said a Delhi-based vendor who attended the meeting.

Hero Group Diesel Engine Bikes On Its Way?Hero Group To Buy Out Honda’s StakeHMSI To Enter Pre-Owned Two-Wheelers Business SoonHero Group Ties-Up With Magna SteyrHero-Honda Split FinalizedTags: hero group, hero three wheelers

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VW Group India has recently won four prestigious awards for the 2011 at the CNBC-Overdrive Awards 2011 that was held on January 4th 2011.

Dr. John Chacko, Volkswagen Group Chief Representative India and Neeraj Garg, Director, Volkswagen Passenger Cars Division, Volkswagen Group Sales India Pvt. Ltd. accepted the award for the Volkswagen Polo as Premium Hatchback of the Year. The Audi A4 TDI was awarded the Performance Car of the Year. The award was received by Clemens Ollmert, Head of Marketing, Audi India on behalf of Audi.

The other award-winning car was the Škoda Yeti which was awarded the SUV of the Year. Ashutosh Dixit, Senior General Manager-Sales and After-Sales, ŠkodaAuto India and Tarun Jha, Head of Marketing, Škoda Auto India received the award on behalf of SkodaAuto. Dr. Chacko also collected the Motorsport Award of the Year for Volkswagen Motorsport.

Speaking on the occasion, Dr. John Chacko, Volkswagen Group Chief Representative India said, “We are extremely honored to achieve such success and recognition for the Group. It has been a constant endeavor to design cars with high degree of quality keeping in mind the needs of the customers. This validation by the CNBC Overdrive awards stands as a testimony to our endeavors and success story so far. It has been an excellent start of the year for us at Volkswagen.”

Volkswagen Group continues to strengthen its presence in India and is moving rapidly towards making a mark in the country. Currently the three brands of the Group offer in total 18 different models, from the high-end luxury sedan to the value-for-money compact car.

The theme and the context for the 11th edition of CNBC-Overdrive awards was “Go Green”. The awards aim at the road ahead for the auto industry with increasing need for green technology and environment conservation. The Overdrive awards have ensured that they truly reflect the choices and sentiment of all stakeholders and justify their stature as benchmarks in Auto excellence.

You can also check out the total winners of the CNBC Overdrive 2011 Award.

Winners of CNBC-TV18 Overdrive Awards 2011 AnnouncedSkodaIndia Yeti Bags Car & SUV Of The Year By CNBC Overdrive 2011 AwardNew BMW 5 Series Wins CNBC Overdrive 2011 AwardNew BMW 5-Series Won Best Design and Styling Car Award 2011Volkswagen Group India Sales On A HighTags: audi a4 tdi, cnbc overdrive 2011 award, cnbc overdrive award 2011, CNBC-TV18 Overdrive Awards 2011, skoda yeti, volkswagen motorsport, Volkswagen Polo

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29 November, 2010 Volkswagen Group, which sells luxury cars under the Audi, Volkswagen and Skoda brand names in the Indian market, is planning to double its sales this year, a company official said. He also mentioned that India, besides China, is among the fastest growing market in the luxury car segment.
“Last year we sold 19,000 units comprising the three makes. This year we expect to double the sales,” Maik Stephan, managing director of Volkswagen Group Sales India , said.
Volkswagen has an installed capacity of 1.10 lakh units per annum at its Pune and Aurangabad manufacturing plants, and does not have any investment plans at the moment, he said. VW has invested Rs 3,800 crore at Pune, which manufactures Skoda Fabia, Polo and Vento. The Aurangabad plant assembles Skoda, Volkswagen and Audi.
Stephan said that the group would aggressively expand the dealer network in the country.

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