PAJARO LAND

Posts Tagged ‘Automotive’

Cars in the domestic demand continued to grow in the first two months of this year and will increase again in March with projected sales of 55 thousand to 60 thousand units. ”The market continues to improve the car. At the January sales reached about 52 thousand units, and February 55 thousand units,” said Chairman III Indonesian Automotive Industry Association (Gaikindo) Johnny Darmawan, on the sidelines after the Toyota Eco Youth award, in Jakarta.

He was optimistic in March in domestic car sales could break the 57 thousand units, due to demand trends indicate an increase in the middle of a progressive tax policy uncertainty. ”I estimate this year’s car sales were averaging about 50 thousand per month. So if there is no political and economic instability sales could reach 600 thousand units until the end of the year,” he said. Johnny also believes Indonesia could become largest car market in Southeast Asia, beating Thailand, where political stability is not maintained and there is a progressive tax. ”The market is already saturated car in Thailand and there is political instability in that country. While still a large potential in Indonesia,” said president director of PT Toyota Astra Motor’s. He also believed in the 3-4 years ahead of its domestic car sales could penetrate one million units.

German truck manufacturer Daimler AG, said that it has signed an agreement with the Iraqi government to supply Mercedes-Benz trucks and equipment for assembly of trucks.Daimler, based in Stuttgart, said it would provide a truck and a truck full ‘kit’, tools and equipment for assembly, as well as technical support in agreement with the Iraqi State Company for Automotive Industries.

But Daimler did not disclose financial details. The agreement is the result of Daimler signed a memorandum of understanding with the Iraqi government in July 2008. In February 2009, Daimler to open office in Baghdad for determining market opportunities for trucks and buses in Iraq and coordinate the negotiations for partnership agreements. Daimler is the world’s largest truck maker with the brands Mercedes-Benz, Freightliner and Mitsubishi-Fuso. Daimler shares about one fifth per cent higher than the euro33.47 ($ 46.52) in morning Frankfurt trading.

China’s car manufacturers, BAIC, has proposed taking a majority stake in Opel, GM’s European subsidiary, with a bid worth 660 million euros. BAIC bid for Opel, a unit of GM-based company
in Germany on Thursday last, just before the deadline the last bid
Beijing Automotive Industry Corp. (BAIC) said the value of its offer for 660 million euros (920 million U.S. dollars).

German newspaper Frankfurter Allgemeine Zeitung reported that
BAIC has sent a letter to several members of the German government proposed to take 51 percent stake in Opel with 2.64 billion euros in state guarantees. In his letter, Xu Heyi BAIC leader promised “no Opel factory in Germany which will be closed,” so that the reduction of workers will not be done, the paper said. Russian state-owned bank, Sberbank, is also bidding with partners, the Canadian automotive parts manufacturer, Magna International. The German government in May announced a rescue plan
for Opel which 35 percent of the company’s shares will be given to
Sberbank and 20 percent to the Magna, but the conversation stalled.