Reversing the slowdown in US auto sales in June, the July figures indicated an ‘uneven’ recovery, with a 5 percent overall increase in auto sales in the country – while Hyundai and Nissan turned out to be the biggest gainers; sales at Toyota and Honda witnessed a plunge.
The largest motor cycle maker of the country, Hero Honda Motors has declared its first quarter financial results for the fiscal year 2010-11. Japan's Honda Motor Corp and India's Hero group hold 26%each of this firm.
The company has posted a net profit of 4.92 billion rupees for this quarter.
Commercial vehicle maker Eicher Motors has announced its June quarter financial results for the fiscal year 2010-11.
According to the company, it has registered a significant three fold net profit rise in the quarter under review.
After being convicted under the Bhopal tragedy case, the rumors of Keshub Mahindra resigning as the Chairman of M&M has been floating in the air. However, the shareholders of M&M have decided to keep Keshub as the chairman of the company, at its AGM.
As Hero Honda reported a 1.6% fall in its net profit for the first quarter of the fiscal, it may sound a minor fall to many but was unusual for a company like Hero Honda. The company has been constantly raising the bar in the Indian two-wheeler market for the past few years but has recently hit a roadblock as far as the profitability is concerned.
In a Thursday announcement, Japanese automaker Toyota said that it was preparing a worldwide recall of nearly 480,000 Avalon sedans and Land Cruiser sport-utility vehicles, due to a steering problem that can lead to a crash.
Good News USA
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