NEW DELHI: India's biggest carmaker Maruti Suzuki Saturday reported a 23 percent plunge in quarterly profit, missing market forecasts as the company struggles to recover from deadly labour unrest.

Maruti said net profit fell to 4.24 billion rupees ($76.6 million) in the first quarter from 5.49 billion rupees a year earlier, marking its fourth straight quarterly profit fall.

Analysts expected Maruti, 54.2 percent owned by Japan's Suzuki Motor, to post a profit of around 5. ...

SEOUL: Hyundai Motor Co, South Korea's top automaker, is recalling more than 200,000 units of its Santa Fe sport utility vehicle model and popular Sonata cars in the United States due to problems with their airbags, a US state safety agency said.

The National Highway Traffic Safety Administration said in a report released on its website that Hyundai's US dealers will recall 199,118 Santa Fe SUVs built between April 19, 2006 and July 7, 2008 and 22,512 units of Sonata sedans manu ...

KARACHI - The auto sector of the country has requested the federal information minister to ensure consultation with the sector about new entrant policy before making any final recommendations to the ECC. Director General Pakistan Automotive Manufacturers Association (PAMA) Abdul Waheed Khan and Chairman Pakistan Association of Automotive Parts Accessories Manufacturers (PAAPAM) Syed Nabeel Hashmi made this request in a letter to Federal Minister Ministry of Information & Broadcast ...

LAHORE – The Punjab government under its Green Tractor Scheme 2012-14 has sought applications till August 22, for provision of tractors at subsidized rates. Under the scheme 20,000 tractors on Rs 200,000 subsidy on each tractor will be provided with an aim to facilitate young farmers to earn livelihood at their own, official sources told APP on Sunday. They said eligible applicants must not have more than 2.5 acre land in the tehsil concerned and he himself cultivates the land. ...

SEOUL: South Korea's second largest automaker Kia Motors said on Friday its second-quarter net profit fell 2.8 percent from a year earlier due to losses on shareholdings in affiliates.

Net profit in April-June was 1.09 trillion won ($954 million) compared to 1.12 trillion won a year earlier, the company said.

Sales rose 8.4 percent to 12.6 trillion won, while operating profit jumped 18 percent to 1.2 trillion won.

For the first half net profit rose 10.4 percent year- ...

SEOUL - South Korea's second largest automaker Kia Motors said Friday its second-quarter net profit fell 2.8 percent from a year earlier due to losses on shareholdings in affiliates. Net profit in April-June was 1.09 trillion won ($954 million) compared to 1.12 trillion won a year earlier, the company said. Sales rose 8.4 percent to 12.6 trillion won, while operating profit jumped 18 percent to 1.2 trillion won. For the first half net profit rose 10.4 percent year-on-year to 2 ...

BEIJING: China's passenger car sales could rise 11.1 percent this year, faster than previously forecast and picking up from the first half of the year, a leading industry group in the world's biggest automobile market was cited as saying on Thursday.

The China Association of Automobile Manufactures (CAAM) previously said it expected car sales to rise 9.5 percent this year, versus year-on-year growth of 7.1 percent in the first six months of the year.

The official Xinhua ...

PARIS: French car parts maker Valeo said first-half operating profit rose 7.2 percent as it expanded in Asia and shrugged off a declining auto market in Europe.

Earnings reached 370 million euros ($455.1 million), or 6.2 percent of sales, Valeo said in a statement on Thursday. The group had record order intake of 8 billion euros in the period, with sales up 12.5 percent to 6 billion.

Based on estimated growth of 5-6 percent in global automotive production this year and ...

TOKYO - Toyota Motor has returned to the top of the global carmakers’ league, Japanese media reported on Thursday, after the firm said it had sold almost five million vehicles in the first half of the year. The group, whose brands also include Lexus, Daihatsu and Hino, sold a record 4.97 millions units worldwide in the period, up nearly 34 percent from the same period last year, according to company figures. That vaulted Toyota ahead of rivals General Motors and Volkswag ...

KARACHI - Sindh Governor Dr Ishratul Ebad Khan has said that political understanding among political parties is must for the cause of democracy.   This he stated while addressing a ceremony organized here for handing over 50 vehicles to Inspector General Sindh Police here on Thursday. The police vans have been provided by Karachi Port Trust (KPT) to Sindh police for maintaining law and order. The governor expressed gratitude to Federal Minister for Ports and Shipping Babar K ...