After an absence of nearly half a decade, Concorde Motors is back. A wholly owned subsidiary of Tata Motors, the company has set up a dealership at Prabhadevi. Spread over 4900 sq ft., the Concorde dealership adheres to the Tata-Fiat car dealer identity norms and has the distinction of being the sole showroom for the Fiat 500 and any other Fiat CBU imports that will follow. 

In keeping with its mandate, the Mumbai dealership will focus on customer satisfaction and corporate sales and will strive to be the preferred destination for Tata-Fiat customers. Concorde Motors, which has a strong network in South India is working towards opening a 3S (Sales, Service & Parts) dealership in Cochin.

ContiTech AG has launched power transmission belts in India. The Hannover, Germany-based tier supplier is the world's largest specialist for rubber and plastics technology in the non-tire rubber sector. It develops and produces functional parts, components and systems for the automotive industry and other important industries. Having a workforce of around 24,000, in the year 2007 the company posted sales of around Euro 3.1 billion. 

A division of Continental Corporation, one of the top automotive suppliers worldwide, with targeted sales of more than Euro 26.4 billion in fiscal 2008, Contitech entered India in August 2008. The launch of power transmission belts, held in Delhi saw the participation of key customers from across India and was presided over by key officials from ContiTech (Germany) and India. Speaking on the occasion, Regina Arning, Head - Industrial Business Unit promised to offer the ContiTech global quality products to Indian customers from now onward. 

Ever since ContiTech acquired erstwhile Roulunds Rubber in India in May 2006 the inputs were made on specifications, raw material, process and machines, human resource training and systems to manufacture this global quality from Indian manufacturing operations located at Kundli, Sonepat in Haryana. With ContiTech entering the Indian market, customers in India will now have availability of complete product range of ContiTech power transmission products in India.

In yet another development, Continental has concluded a far reaching agreement with the Schaeffler group. The key points of the agreement include Schaeffler KG increasing the offer price to 75 Euro per share and guarantees to compensate possible disadvantages in an aggregate amount of up to 522 Mio Euro. The current strategy of Continental will be continued. Detailed investment agreement regulates future role of Schaeffler as shareholder. Schaeffler KG guarantees to limit its position to a minority shareholding until 2012.

Mahindra’s Farm Equipment Sector has signed an agreement to form a Joint Venture (JV) in China with Jiangsu Yueda Yancheng Tractor Manufacturing Co. Ltd. (Yancheng Tractor), a leading Chinese tractor manufacturer. The tractor related assets and current liabilities of Yancheng Tractors will be transferred to this JV. The value of net assets transferred to this JV will be RMB 335 million (USD 50 million approx.). 

Mahindra will hold 51 per cent (outlay approx. USD 26 million) in the JV through its subsidiary, Mahindra Overseas Investment Company (Mauritius) Ltd. (MOICML). The transaction is subject to receipt of necessary approvals. This would be the second tractor venture of Mahindra in China, in addition to Mahindra’s current tractor business namely, Mahindra China Tractor Company Ltd. (MCTCL). Yancheng Tractor’s Huanghai Jinma brand is the no. 3 tractor brand in China in terms of tractor volumes in 2007.

The Ceat Mumbai Xpress Rally 2008 concluded in Mumbai after traversing the rough terrains of South Central and Western India—from Chennai to Mumbai. With participants from 10 different countries – India, Britain, America, New Zealand, Australia, Canada, Germany, Norway, Hungary and Spain, vying for the winning position, the Xpress Rally 2008 saw 18 teams and 39 participants (Autorickshaw drivers) including 7 women competing under tough climatic and road condition. 

Covering a distance of 2000 kms spanning over 14 days, the rally focused on raising money to improve the lifestyles and educational opportunities of India’s children, promote road safety, and raise the profile of the growing trend of adventure tourism.

Indian automotive manufacturer Argentum Motors announced it has signed definitive documents for acquisition of a controlling interest in French automaker, Heuliez SA. The commercial court of Bressuire approved the 'safeguard plan' proposed by Argentum and Groupe Henri Heuliez and Heuliez SA. As part of its proposal, Argentum Motors will invest up to 25 million Euros for an initial stake of 60 per cent in the French company. CDC (Caisse des D et Consignations) has also committed an investment of 5 million Euros into Heuliez. 

In a broad restructuring plan Heuliez will be spun off into three companies - Heuliez Electric, Heuliez Engineering and Design and Heuliez Manufacturing. While Heuliez Electric will build electric vehicles under the Heuliez brand for the global market, Heuliez Engineering will work closely with Argentum Engineering to integrate Heuliez expertise with Argentum delivery capability.