Hyundai India’s top selling trio Grand i10-Creta-Elite i20 crosses 1.3 million cumulative sales mark

New Delhi, August 02, 2017: Hyundai Motor India Limited (HMIL), the country’s second-largest car manufacturer and leading exporter, has achieved yet another milestone for its most awarded and admired brands crossing 1.3 Million Sales Volume. Grand i10, Elite i20 and Creta have clocked domestic sales of 1.01 Million units and exports of 0.29 Million units with cumulative sales of over 1.3 Million units.

The Super Performer brands have set a new benchmark in their respective segments with class-leading features and unmatched performance in every aspect including safety, performance and product quality. Their continued success has further strengthened Hyundai’s position as a Premium Car Manufacturer in India.

Commenting on HMIL’s Super Performer Brands, Mr. Y K Koo, MD & CEO, Hyundai Motor India said,“We thank our Customers, Channel Partners and Vendors for their contribution in Hyundai’s success in the country. This milestone reflects the strong connect and confidence that our stakeholders have on brand Hyundai. Grand i10, Elite i20 and Creta are trendsetters and winners. The 1.3 Million milestone is testimony of Hyundai’s sharp and undeterred focus on creating customer delight and unique experiences.” “Grand i10, Elite i20 and Creta are winners of J D Power APPEAL Award 2016 demonstrating excellence of ‘Made in India’ products as per global standards”, he added.

Via HMIL Press Release

Maruti Suzuki India April 2017 Sales Report


New Delhi, May 1, 2017: Maruti Suzuki India Limited, leader in passenger vehicles, sold a total of 151,215 units in April 2017. This includes 144,492 units in domestic market and 6,723 units of exports. The Company had sold a total of 126,569 units in April 2016.

The sales figures for April 2017 are given below:

Maruti Suzuki India April 2017 Sales
Dzire and Dzire Tour are included in same segment only, * Previously Dzire Tour was reported in separate segment

Maruti Suzuki India’s passenger vehicle sales(domestic) grew by 23.1% from 1,17,045 units in April 2016 to 1,44,081 units in April 2017. Export declined by 29.4% from 9,524 units in last April to 6,723 units in this April.

Sales in compact segment which includes Swift, Dzire, Dzire Tour, Celerio, Ignis, and Baleno grew the most by 39.1%.

Ciaz sales grew by 23.1% from 5702 units to 7024 units.

And the other segment which grew maximum is utility vehicle segment which includes Gypsy, Ertiga, S-Cross, and Vitara Brezza, the segment grew by 28.6%.

Vans segment which includes Omni and Eeco declined b y 4.0%. Vans segment is the only one in the entire Maruti’s portfolio to decline.

Sales of Maruti Suzuki’s light commercial vehicle Super Carry in April 2017 stood at 411 units.

Overall April 2017 sales grew by 19.5% from 1,26,569 units in April 2016 to 1,51,215 units in April 2017.

Source Link.

Magyar Suzuki rolls out 3 millionth car from its Esztergom factory

3 million Suzuki cars made in 26 years. With this impressive figure, Magyar Suzuki Corporation has reached yet another milestone, again proving that the company is a significant player not only in the Hungarian car manufacturing sector, but also on the global car markets. In addition to last year’s impressive domestic sales volumes, Suzukis manufactured in Hungary were shipped to more than 100 countries in the world from the Esztergom factory.

On 19th April 2017, the 3 millionth car rolled off the production line in the Suzuki factory in Esztergom: a Suzuki SX4 S-Cross. This figure is significant in itself and it also showcases the Hungarian production facility’s substantial contribution to the brand’s Hungarian and European success since the facility’s establishment in 1991. In 1992, 970 vehicles were manufactured in Esztergom; in 2005, production exceeded one hundred thousand cars (136,311 cars); and in 2008, 281,686 new Suzukis rolled out of the plant.

In the past 26 years, defining and iconic models have rolled off the Esztergom production line: The first-generation Swift in 1992, the Wagon R+ in 2000, the Ignis in 2003; the next-generation Swift in 2005, the SX4 in 2006, the Splash in 2008, the new Swift in 2010, the SX4 S-Cross in 2013, and the new Vitara in 2015. Based on its sales figures, the Vitara was by far the most popular model last year in the sport utility (SUV) category, as well as in the passenger car sector. So it is no wonder that in 2016, for the first time since 2009, Suzuki once again lead the passenger car sales with 11,266 cars sold in Hungary. The year 2016 brought another record in the history of Magyar Suzuki: the brand increased its share in the Hungarian passenger car market to 11.67%.

Suzukis manufactured at Magyar Suzuki plant cruise the roads in the Dominican Republic, Guatemala, and in Vanuatu in the Southwest Pacific. This comes as, of the 211,266 models produced in 2016, besides the successful Hungarian domestic sales, the company supplied to more than one hundred countries on the global export markets.

“Looking back on the last two and a half decades, I’m very proud of our achievements. It is very important to stop for a moment at milestones like this and recognize our efforts. Our three thousand employees in Hungary do a great job day by day, contributing significantly to having the 3 millionth Hungarian Suzuki roll out of the factory,” said Mr. Yoshinobu Abe, Chief Executive Officer of Magyar Suzuki on the occasion of the prestigious event.

Press Release

Timken Reports First-Quarter 2017 Results; Raises Full-Year Outlook

— Reports sales of $704 million in the first quarter, up almost 3% from the same period last year
— Generates earnings per diluted share of $0.48 on a GAAP basis, with adjusted earnings per diluted share of $0.55
— Raises 2017 outlook; now expects 2017 GAAP earnings of $2.15 to $2.25 per diluted share and adjusted earnings of $2.35 to $2.45 per diluted share

NORTH CANTON, Ohio, April 26, 2017 /PRNewswire/ — The Timken Company (NYSE: TKR;, a global leader in bearings and mechanical power transmission products, today reported first-quarter 2017 sales of $703.8 million, up 2.9 percent from the same period a year ago. The results reflect increased industrial distribution and off-highway demand, as well as the benefit of acquisitions, partially offset by lower rail, wind energy and aerospace shipments.

In the first quarter, Timken posted net income of $38.2 million or $0.48 per diluted share, versus net income of $65.9 million or $0.82 per diluted share for the same period a year ago. The year-ago period included CDSOA1income of approximately $31 million after-tax. The year-over-year change in net income also reflects the impact of higher volume, improved manufacturing performance and lower restructuring charges, partially offset by unfavorable price/mix and a pension mark-to-market remeasurement charge in the quarter.

Excluding special items (detailed in the attached tables), adjusted net income in the first quarter of 2017 was $43.7 million or $0.55 per diluted share, up from $39.9 million or $0.50 per diluted share for the same period in 2016. The increase in adjusted net income reflects the impact of higher volume and improved manufacturing performance, partially offset by unfavorable price/mix. The company generated cash from operations of $46.7 million and free cash flow of $27.4 million in the first quarter.

“We had a solid start to the year, with stronger demand in sectors like industrial distribution and off-highway,” said Richard G. Kyle, Timken president and chief executive officer. “We responded well to the increase in demand, improved operating margins and generated solid cash flow, while continuing to advance our strategy across the globe.”

Recently, the company:

  • Added to its mechanical power transmission product portfolio with the acquisition of Torsion Control Products, Inc., a manufacturer of engineered torsional couplings, which complements the Lovejoy acquisition made last year; and
  • Returned $28 million in capital to shareholders in the first quarter through the repurchase of 185,000 shares and the payment of its 379th consecutive quarterly dividend.

First-Quarter Segment Results

Mobile Industries reported first-quarter sales of $383 million, roughly flat compared to the same period a year ago, with increased demand in the mining and agriculture sectors offset by softness in rail and aerospace.

Earnings before interest and taxes (EBIT) in the quarter were $30.8 million or 8 percent of sales, compared with EBIT of $32 million or 8.4 percent of sales for the same period a year ago. The decrease in EBIT primarily reflects unfavorable price/mix in the quarter partially offset by favorable currency.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $36.6 million or 9.6 percent of sales, compared with $37.7 million or 9.8 percent of sales in the first quarter last year.

Process Industries sales of $320.8 million for the first quarter were up 6.6 percent from the same period a year ago, driven primarily by increased industrial distribution demand, higher marine revenue and the benefit of acquisitions, partially offset by lower revenue in wind energy and services.

EBIT for the quarter was $43 million or 13.4 percent of sales, compared with EBIT of $33.8 million or 11.2 percent of sales for the same period a year ago. The increase in EBIT was driven by the impact of higher volume, improved manufacturing performance, lower SG&A expenses and the benefit of acquisitions, partially offset by unfavorable price/mix. In addition to these operating factors, year-on-year results were also impacted by lower restructuring charges in the quarter.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $44.2 million or 13.8 percent of sales, compared with $37.4 million or 12.4 percent of sales in the first quarter last year.

2017 Outlook

“Encouraged by our start to the year, we are raising our revenue and earnings outlook, with the expectation that markets sustain their recent improvements,” said Kyle. “We are confident in our ability to generate solid bottom-line growth in 2017.”

The company now expects 2017 revenue to be up 5 to 6 percent in total versus 2016. Within its segments, the company estimates full-year 2017:

  • Mobile Industries’ sales to be up 2-3 percent, driven primarily by improved demand in the off-highway and heavy truck sectors and the benefit of acquisitions, partially offset by continued weakness in the rail sector.
  • Process Industries’ sales to be up 9-10 percent, reflecting growth across most end-market sectors and the benefit of acquisitions, offset partially by unfavorable currency.

Timken now anticipates 2017 earnings per diluted share to range from $2.15 to $2.25 for the full year on a GAAP basis, which does not include the impact of any potential mark-to-market pension remeasurement adjustments in the fourth quarter.

The company expects 2017 adjusted earnings per diluted share to range from $2.35 to $2.45.

Recast of 2016 Earnings for Change in Accounting Principle

In the first quarter of 2017, Timken implemented a change in accounting principle for pension and OPEB costs. Prior to 2017, the Company amortized actuarial gains and losses into earnings over time. Under the new principle, the company will recognize actuarial gains and losses as a mark-to-market remeasurement gain or loss when they occur rather than amortizing them to earnings over time. In addition, the Company has changed its accounting policy for measuring the market-related value of plan assets from a calculated amount (based on a smoothing of asset returns) to fair value. As a result of these changes, 2016 earnings have been recast to make the company’s results comparable year-over-year. First-quarter 2016 earnings have been recast from $0.78 to $0.82 per diluted share. First-quarter 2016 adjusted earnings have been recast from $0.46 to $0.50 per diluted share. More information on the 2016 impact of this change in accounting principle can be found in the Form 8-K filed by the company on April 24, 2017.

Conference Call Information

Timken will host a conference call today at 11 a.m. Eastern Time to review its financial results. Presentation materials will be available online in advance of the call for interested investors and securities analysts.

Conference Call:

Wednesday, April 26, 2017

11:00 a.m. Eastern Time

Live Dial-In: 877-545-1407 or 719-325-4795

(Call in 10 minutes prior to be included.)

Conference ID: Timken’s 1Q Earnings Call

Conference Call Replay:

Replay Dial-In available through May 10, 2017:

888-203-1112 or 719-457-0820

Replay Passcode: 1748373

Live Webcast:

About The Timken Company

The Timken Company (NYSE: TKR; engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™. Known for its quality products and collaborative technical sales model, Timken posted $2.7 billion in sales in 2016. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.

Certain statements in this release (including statements regarding the company’s forecasts, estimates plans and expectations) that are not historical in nature are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to expectations regarding the company’s future financial performance, including information under the heading “Outlook,” are forward-looking.

The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the finalization of the company’s financial statements for the first quarter of 2017; the company’s ability to respond to the changes in its end markets that could affect demand for the company’s products; unanticipated changes in business relationships with customers or their purchases from the company; changes in the financial health of the company’s customers, which may have an impact on the company’s revenues, earnings and impairment charges; fluctuations in raw material and energy costs; the impact of changes to the company’s accounting methods; weakness in global or regional economic conditions and capital markets; fluctuations in currency valuations; changes in the expected costs associated with product warranty claims; the ability to achieve satisfactory operating results in the integration of acquired companies; the impact on operations of general economic conditions; fluctuations in customer demand; the impact on the company’s pension obligations due to changes in interest rates, investment performance and other tactics designed to reduce risk; the company’s ability to complete and achieve the benefits of announced plans, programs, initiatives, and capital investments; and retention of U.S. Continued Dumping and Subsidy Offset Act distributions. Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2016, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

1 Represents funds received by the company under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA).

Media Relations:

Investor Relations:
Jason Hershiser

Source: The Timken Company

TVS Motor Company’s revenue grows by 9.6% and Profit After Tax (PAT) by 14.1% in FY 2016-17



TVS Motor Company, today reported its financial results for the year 2016-17. With total sales of 29.27 Lakh units for the period, the Company’s total revenue grew by 9.6% to Rs.13363.43 crores. During the year, the Company strengthened its presence in the motorcycle and scooter segments with new launches and refreshed product portfolio.

Q4 PERFORMANCE (Jan’17 – Mar’17):

Motorcycles sales during fourth quarter of 2016-17 is 2.15 lakh units as against 2.47 lakh units registered in fourth quarter of 2015-16. Scooter sales increased from 1.98 lakh units in the fourth quarter of 2015-16 to 2.23 lakh units registered in the fourth quarter of 2016-17. The Company exported 0.98 lakh units of two-wheelers in the quarter under review as against 0.83 lakh units in the fourth quarter of 2015-16. Three wheelers registered sales of 0.15 lakh units in the quarter under review as against 0.21 lakh units in the fourth quarter of 2015-16.

TVS Motor Company reported a marginal growth with total revenue going up from Rs.3090.77 crores in the fourth quarter of the financial year ended March 2016 to Rs.3139.22 crores in the fourth quarter of the year ended March 2017.

The Company commenced manufacture of BS IV emission compliant products from January 2017. However, the Company based on the order of Honorable Supreme Court that only BS IV compliant product can be sold and registered from 1st April 2017, extended suitable support to the dealers to sell BS III compliant products. The profit for the quarter is net of one time provision of Rs.57 crores of discounts towards such BS III products sold by the dealers in March 2017.

The Company’s Profit Before Tax (PBT) for the quarter under review is Rs.134.02 crores against Rs.156.99 crores for the corresponding quarter in 2015-16. Profit After Tax (PAT) reported for the quarter ended March 2017 is Rs.126.77 crores against Rs.136.03 for the fourth quarter of previous financial year.

FULL YEAR PERFORMANCE (April 2016 to March 2017):


Total revenue for the year recorded a growth of 9.6% increased from Rs.12194.77 crores in the year ended March 2016 to Rs.13363.43 crores for the year ended March 2017. Profit Before Tax (PBT) grew by 11.1%, increased from Rs.628.94 crores in the year ended March 2016 to Rs.698.68 crores in the year ended March 2017. Profit After Tax grew by 14.1% increasing from Rs.489.28 crores in the year ended March 2016 to Rs.558.08 crores in the year ended March 2017.


During the year ended March 2017, the overall two-wheeler sales of TVS Motor Company, including exports grew by 11.3% increasing from 25.68 lakh units registered in the year 2015-16 to 28.58 lakh units in the year 2016-17. Motorcycle sales during the fiscal year increased from 10.17 lakh units in the year ended March 2016 to 10.77 lakh units in the year ended March 2017. Scooter sales during the period under review increased from 8.13 lakh units in the year ended March 2016 to 8.70 lakh units in the year ended March 2017. Three wheelers registered sales of 0.69 lakh units in the year ended March 2017 as against 1.11 lakh units in the year ended March 16. The total export of the Company recorded during the year under review is 4.25 lakh units as against 4.54 lakh units recorded in March 2016. Exports of the two-wheelers and three-wheelers continue to be impacted by restricted availability of foreign exchange in the key African markets.


The board of directors of the Company has declared two interim dividends of Rs. 1.25 (per share) each at their meeting held on 27th October 2016 and on 6th March 2017 respectively, for the year 2016-17. The total dividend paid for the year ended 31st March 2017 aggregated to Rs. 2.50 per share (250%) on 47,50,87,114 equity shares of Re.1/- each. The board does not recommend any further dividend for the year under consideration.


In recognition of TVS Motor Company’s unwavering commitment to quality, J.D. Power 2017 India Two-Wheeler Initial Quality (2WIQS) Study and Automotive Product Execution and Layout (2WAPEAL) study conferred top honours to TVS Star City Plus and TVS Apache RTR 160 as the best quality product in their respective segments. J.D. Power 2017 study also ranked TVS Sport as the No 1 in Automotive Product Execution and Layout (APEAL) study, in the entry segment.

During the year, TVS Apache RTR 200 4V, won the prestigious Indian Motorcycle of the Year 2017 (IMOTY) award along with 14 other awards including 8 Motorcycle of the Year Awards from leading publication houses.


In FY 2017-18 the Company will introduce a new motorcycle and a new scooter. In addition to these new launches, the Company has also planned upgrades across segments to strengthen its product portfolio. With the widest range of product across segments, TVS Motor Company expects to better its performance in the ongoing fiscal year and grow ahead of the industry.

About TVS Motor Company

TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the USD 7 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100-year legacy of Trust, Value, Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We endeavour to deliver the most superior customer experience at all our touch points across 60 countries. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the JD Power IQS and APEAL surveys for the past three years. We have recently been ranked No.1 Company in the JD Power Customer Service Satisfaction Survey. For more information, please visit

Press Release

Volvo Cars’ first quarter 2017 operating profit rises 11 per cent to SEK3.5 billion


Volvo Cars, the premium car maker, reported an operating profit of SEK3.5 billion for the first three months of the year, up 11 per cent from SEK3.1 billion during the same period last year. The increase was mainly driven by strong demand for the company’s XC60 and 90 series cars.


Volvo Cars reported an operating profit margin of 7.3 per cent, down from 7.5 per cent last year. Profitability was partly offset by costs related to the launch of the new 90 series cars and the new XC60, as well as continuous investments in new technologies and a rising number of employees. Since the first quarter of 2016, Volvo Cars has welcomed almost 5,000 new employees, bringing the total global work force to 33,000.

Global retail sales increased by 7.1 per cent to 129,148 cars in the January to March period, resulting in a first quarter revenue of SEK47.6 billion, up 13 per cent from SEK42.0 billion last year.

“In the first three months we have seen strong demand for our 90 series cars as they reached markets worldwide,” said Håkan Samuelsson, president and chief executive. “We also unveiled the new XC60 in the first quarter and we expect this car to have a positive impact on sales and profitability.”

In March, Volvo Cars unveiled the new XC60 model at the Geneva motor show, which was received to great acclaim. Later this year, Volvo Cars will launch the XC40, based on the new CMA small vehicle platform, positioning the company for further growth in the fast growing SUV segment.

Key figures

Q1 2017

Q1 2016

Net revenue, MSEK



Operating income, EBIT, MSEK



EBIT margin, %



Net income, MSEK



Cash flow from operating and investing activities, MSEK



 The Asia Pacific region reported sales growth of 16 per cent in the first quarter to 32,872 cars, boosted by a strong performance in China, Volvo Cars’ largest market. There, sales rose by 18.8 per cent to 23,335 cars, following strong demand for the locally-produced XC60 and S60L models as well as the XC90 and S90.

Sales in the EMEA region increased by 9.2 per cent to 78,820 cars sold, on the back of a strong performance in Sweden, the United Kingdom and Germany. The region continued to see strong demand for the new V90 and XC90 as well as Europe’s most popular premium mid-size SUV, the XC60.

The Americas region reported sales of 16,641 cars, of which 13,476 in the United States. The XC90 remained the best-selling model in the Americas.

Volvo Car Group in 2016

For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan.

About Volvo Car Group

Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 534,332 cars in 2016 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.

As of December 2016, Volvo Cars had over 31,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

Press Release

Mahindra KUV100 sales cross 50,000 units in 15 months

Launched in January 2016, the Mahindra KUV100 entry-level SUV has managed to garner sales of over 50,000 units so far. The brand’s second crossover is positioned in a such a way to lure customers from the B-Segment hatchbacks like the Ford Figo, Maruti Swift, Hyundai Grand i10, Tata Bolt, etc.A tall stance, high seating position, and efficient interior packaging are the crossover’s salient features. The car targets young urban customers.

Mahindra KUV 100

The KUV100 adopts brand new 1.2-litree three-cylinder petrol and diesel engines. The G80 petrol motor develops 82 bhp at 5,500 rpm and 115 Nm of torque at 3,500 – 3,600 rpm, while the D75 diesel mill is good enough for 77 bhp at 3,750 rpm and 190 Nm of torque at 1,750 – 2,250 rpm. The petrol engine has an ARAI certified fuel efficiency of 18.51 kmpl, while the diesel returns an impressive 25.32 kmpl.

Inside, the crossover features a floating centre console with carries the gear lever. This arrangement makes way for an optional bench seat which takes the seating capacity up to 6 passengers. Equipment highlights include LED daytime running lights, alloy wheels, dual front airbags, ABS with EBD, 6-speed infotainment system with Bluetooth, USB and iPod connectivity, start/stop system and Eco-Power drive modes.

Speaking on the sales milestone, Rajan Wadhera, President, Automotive Sector, Mahindra and Mahindra Ltd. said, “We would like to thank our customers for their support in achieving this milestone for the KUV100. The KUV100 has created an all-new SUV segment in the price range of Rs. 4.5 to 7 lakhs. It combines the appeal of an SUV and the practicality of a compact car, making it a compelling value proposition for buyers. The recent introduction of the new look dual tone KUV100 has also resonated well with our customers and going forward, I am sure that the KUV100 will continue to scale new heights.”

Via Rushlane