But Japan's No. 2automaker said Thursday that wage negotiations between Honda and Chineseemployees at Honda Auto Parts Manufacturing Co. are still ongoing. Hondaspokeswoman Tomoko Uchida declined to give details of the wagetalks.
The strike, which beganon May 17, caused a lack of transmissions and engine parts, forcing Honda toshut production at its four auto assembly plants inChina.
Original Equipment Manufacturer Diesel Tanks
Margin concerns persist due to high input costs, but sector is banking on continuation of strong demand to boost sales and profitability.
Mahindra Vehicles Diesel Tanks
Robust demand on the back of strong economic growth and rising incomes, as reflected in the sales volumes in May, should enable the domestic auto sector to grow over 15 per cent in 2010-11. Despite production constraints and supply issues, auto companies saw their sales volume jump an average 30 per cent year-on-year in the first two months of the current financial year.In addition to pent-up demand, affordability and new launches over the past couple of months, what also helped most companies post a strong show in May was the marriage season. Notably, some of them like Maruti and Hero Honda posted their highest ever monthly sales. How demand moves in the lean months of June and July will decide whether manufacturers will offer discounts to maintain volumes.
MUMBAI:Indian markets ended a volatile session on a positive note on Wednesday,ignoring negative cue from Europe. The upmove was led by gains in telecom, autoand realty stocks.
Indices opened in the green andturned choppy due to lack of direction from subdued Asian markets. Lot of actionwas seen in telecom companies on reports that Reliance Communications wasplanning to sell part of its stake to Etisalat and also on reports of a possiblemerger with South Africa’sMTN.
Mahindra Vehicles Diesel Tanks
Benchmarks gained momentum in thelast hour of trade and closed above psychological resistance levels even asEurope was witnessing selling pressure. Traders seem to have taken cues from theUS stock futures which were indicating a positivestart.Mumbai, June 1 The spectacular show by Indian car companies continues with Maruti Suzuki selling more than a lakh cars in May.
This is for the first time a car company clocked six-digit unit sales a month - with market leader Maruti rewriting its own record of 96,650 units in February.
Similarly, the top two-wheeler maker Hero Honda set a new record by selling 4.36 lakh units last month, a notch higher than its previous highest 4.15 lakh in August 2009.
Mahindra Vehicles Diesel Tanks
In a reversal of the classic picket-line clash, Chinese workers at a Honda auto parts plant held out for higher wages this week while men in yellow caps from the government-backed union tried to end their strike.
The strange dynamics of the strike that forced Honda to suspend auto production in China for more than a week reveal a growing impatience by Chinese workers with the state-backed union, and shifting demographics that may eventually give them more leverage than their parents ever had.
"Foreign investors have been lulled into a false sense of security that China has a docile work force," said economist Arthur Kroeber of Dragonomics.
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