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Moneycontrol Bureau After a scorching 30% sales growth in 2010-11 (April-March) passenger car sales in India are likely to slow down to 10% in the current fiscal year, as consumers hit by increased loan rates and a sharp rise in petrol prices apply brakes on their buying plans, according to Edelweiss Securities. Commercial vehicle sales are also likely to grow at a slow 8% in 2011-12, compared with 27% last fiscal year amid tightening liquidity, a likely slowdown in the economy and slackening road building and construction activity, the brokerage said Monday. "Already, we have seen car interest rates rising by more than 250 basis points in the past one year to 11.5%. Our economy team believes that RBI may raise interest rates by another 50 bps, which will put further strain on auto interest rates thus adversely affecting the demand," Edelweiss said. Auto sales in India have already lost speed, data for April and May shows. According to SIAM (Society of Indian Automobil

India's goal of becoming the global small car hub could be hampered by labour issues, acute shortage of skilled workers and slow pace of expansion by auto component makers, according to market research firm JD Power. In its report 'India Automotive 2020: The Next Giant from Asia', JD Power said the country's ambition to become a global small car production base confronts some serious manpower related obstacles such as lack of skilled labour force, high labour cost and workers' low efficiency and productivity. "The risk of union-related labour problems is omnipresent in India, since many labour unions are affiliated with political parties. As a result, local politics frequently interferes with business operations," the report said. According to the report, "unions use their influence to promote manual labour rather than automation in Indian plants for creating more employment, resulting in longer production cycles, greater variability in quality

As Renault unveils its new series of electric cars , you could be one of the first people to find out what the buzz is all about. Renault is offering you the chance to test drive one its new zero emission vehicles and talk to experts at an exclusive event held at the iconic City Hall in London on Saturday 2 July. The event itself brings together drivers who have reserved a Renault Twizy or Kangoo, but competition winners will have the chance to see the full range of cars and get behind the wheel of the Kangoo Van ZE and Fluence ZE, the first time these cars have been publicly driven. To enter and have a chance to win, add your details below. 10 winners will be invited to attend the event along with one friend or family member. As well as the test drive, Renault experts will be on hand to answer any questions you may have. Terms and conditions 1.The Renault electric vehicle prize draw (the "Prize Draw") is open to residents of the UK aged 18 and over. 2.The Pr

Toyota Etios Toyota Etios Liva Hatch to be launched on 27th June Toyota launched the sedan version of the hatch in India before the actual hatch had even hit the Indian roads – a shrewd move on Toyota’s part as the consumer association of a higher class with a sedan, will definitely help boost the sales of Toyota’s first hatch in India in the long run. Available in all Toyota showrooms by July end, the Liva has prospective buyers excited already. Banking on it’s elevated brand perceptions, the Etios Liva is Toyota’s foray into the hatch and hence the numbers game in the Indian Auto Market. The Etios Liva will feature a 1.2 Liter petrol engine producing 80 bhp, which means the light weight Liva will be both peppy and frugal, just like it’s sedan sibling. Interiors of the Liva are exactly the same as the Etios Sedan, not much of a surprise there. This is a cost cutting route that experts had predicted Toyota would take, especially after the Japanese Tsunami that crippled the car

TOYOTA NASCAR 4th, DENNY HAMLIN 9th, DAVID REUTIMANN 17th, KASEY KAHNE 18th, BOBBY LABONTE 19th, JOEY LOGANO 23rd, BRIAN VICKERS 29th, JOE NEMECHEK 31st, MARTIN TRUEX JR. 34th, KYLE BUSCH 35th, CASEY MEARS 36th, MICHEL MCDOWELL 43rd, TJ BELL DNQ, MIKE SKINNER DENNY HAMLIN, No. 11 FedEx Ground Toyota Camry, Joe Gibbs Racing Starting Position: 4th How did your race car handle today? “We definitely have a good race car. We really don’t expect to qualify awesome here, but it was still a great job by our FedEx team — they’ve just done an amazing job of giving me a good race car each time we come here. We just love coming here to Pocono.” Will you shift throughout tomorrow’s race? “Pretty much all day I think you probably will. For us, it just depends whether you’re in traffic or not and things like that all come into play. Just going to be interesting to see how it all plays out. With this overcast condition, it kind of played into our favor in a sense that the track was pretty consis

TOYOTA NASCAR Sprint Cup Series (NSCS) Post-Qualifying Notes & Quotes Pocono Raceway 4th, DENNY HAMLIN 9th, DAVID REUTIMANN 17th, KASEY KAHNE 18th, BOBBY LABONTE 19th, JOEY LOGANO 23rd, BRIAN VICKERS 29th, JOE NEMECHEK 31st, MARTIN TRUEX JR. 34th, KYLE BUSCH 35th, CASEY MEARS 36th, MICHEL MCDOWELL 43rd, TJ BELL DNQ, MIKE SKINNER DENNY HAMLIN, No. 11 FedEx Ground Toyota Camry, Joe Gibbs Racing Starting Position: 4th How did your race car handle today? “We definitely have a good race car. We really don’t expect to qualify awesome here, but it was still a great job by our FedEx team — they’ve just done an amazing job of giving me a good race car each time we come here. We just love coming here to Pocono.” Will you shift throughout tomorrow’s race? “Pretty much all day I think you probably will. For us, it just depends whether you’re in traffic or not and things like that all come into play. Just going to be interesting to see how it all plays out. With this overcast condition, it

Toyota Motors :-Toyota expects fiscal year profit to fall 31 pct Toyota says its profit for the fiscal year through March 2012 will fall 31 percent to 280 billion yen ($3.5 billion) in an outlook that underlines a robust recovery in the latter half of the fiscal year from the damage of an earthquake and tsunami. Toyota Motor Corp. made the announcement Friday. It had not given an earnings forecast earlier because of uncertainties in its production outlook after the disasters on March 11 wiped out key parts suppliers in northeastern Japan. Last month, it said January-March quarterly profit crumpled more than 75 percent because of the parts shortage that is hurting production. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. TOKYO (AP) -- Toyota says its profit for the fiscal year through March 2012 will fall 31 percent to 280 billion yen ($3.5 billion) in an outlook that underlines a robust recovery in the latter half of