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No insurance claim for Tatas, New India gains
Tatas' loss is New India Assurance's gain. With Tata Motors driving out the Nano car project from Singur in West Bengal, no claim will be payable. ...
2008-10-03 16:08:10
Chennai, Oct 1 IANS Auto major Mahindra and Mahindra Ltd plans to invest around Rs.8 billion $174 million in its used car business, being done by Mahindra First Choice Services Ltd MFCS under the brand of CarXSpace, a top group official said here Wednesday.
BUS12BusinessMahindra to invest Rs.8 bn in used car businessChennai, Oct 1 IANS Auto major Mahindra and Mahindra Ltd plans to invest around Rs.8 billion $174 million in its used car business, being done by Mahindra First Choice Services Ltd MFCS under the brand of CarXSpace, a top group official said here Wednesday."In five years time, we will open around 300 outlets across the country," Rajeev Dubey, Mahindra group management board member, told reporters.A subsidiary of the $6.7-billion Mahindra and Mahindra, MFCS is in the space of servicing and sales of used cars and also spare part sales.Inaugurating the company's first CarXSpace outlet here, Dubey said the turnover of MFCS will reach Rs.65 billion by 2015.MFCS may get into e-commerce mode by setting up a common platform for buyers and sellers, he added.According to Dubey, in India around one million used cars were sold last year."The sales of car spares at the retail end is estimated to be around Rs.200 billion," he added.MFCS is also in talks with non-life insurance companies to offer cashless damage claims settlement for car owners.--Indo-Asian News Servicevj/sj/dg202 Words01101615
2008-10-01 07:03:10
Poor ratings cited for 13 booster seats AP
AP - Several car booster seats do a poor job of positioning children to fit in their seat belts, according to a review by the insurance industry and researchers....
2008-10-01 05:00:00
HYDERABAD
NAT32National/Diaspora/CrimeFamily bids tearful adieu to Indian student killed in USHyderabad, Sep 22 IANS Family and friends of Tummala Soumya Reddy, an Indian student who was shot dead in the US more than a week ago, bid a tearful adieu to her as she was cremated here Monday.The cremation took place at Bansilalpet cremation ground as the young student's relatives cried inconsolably.The body of Soumya, who was shot dead in Chicago 10 days ago, was flown into the city by an Indian flight from New Delhi Sunday night. The body was earlier brought to the national capital from the US.Soumya, 23, who was pursuing a Masters in electrical engineering at the Southern Illinois University, Edwardsville campus, was found dead in her cousin Vikram Reddy's car near a lake. Vikram, 27, who was a software engineer in Chicago, was also found dead in the lake. Mystery still shrouds the deaths, though police have recovered the killer gun. Hemalatha cried inconsolably as the body of her daughter was brought home in Padmaraonagar in Secunderabad.Vikram's body has not yet been brought home. According to family members, the body is expected in a few days.Senior Congress leader and Rajya Sabha member V. Hanumantha Rao and Telugu Desam Party TDP legislator T. Srinivas Yadav reached Soumya's house to console the girl's family.Yadav alleged that the state government failed to render any assistance and Soumya's family had to make all arrangements to bring the body. The transportation cost for Soumya's body was borne by an insurance company, while Vikram's family spent $7,500 for the purpose. Hanumantha Rao said Vikram's body was expected to be brought home in a couple of days. Hailing from the backward Adilabad district, Soumya's family had migrated to the city after her father Bhoopal Reddy's death about a decade ago. She went to the US last June after completing her B.Tech.Soumya's family received the information on Sep 15 that she was found murdered. The family was in for another shock the next day when Vikram's body was also found in the lake.Vikram, son of Soumya's mother's elder sister, was working as a software engineer in a private company in Chicago. The US police said his death was expected to have taken place around the same time as Soumya's. Hailing from Nizamabad district, Vikram had gone to the US six years ago. After finishing his Masters, he had been working with a software firm. The two were reportedly sharing an apartment in Chicago. This is the fourth incident of students hailing from Andhra Pradesh being killed under suspicious circumstances in the US in the last 10 months. While A. Srinivas, a post-graduate medical student from Karimnagar, was killed in March this year, Allam Kiran Kumar and K. Chandrasekhar Reddy, both pursuing their Ph.D courses, were shot dead at Louisiana University in December 2007. --Indo-Asian News Servicems/mv/dg529 Words*22091519
2008-09-22 06:05:07
Car firms bet on festivals
BY OUR CORRESPONDENTMumbaiSept. 14: Though car sales dipped by 1.7 per cent in August 2008, auto companies are eyeing the coming festive season for recovering their investments.Auto companies have ser...
2008-09-14 17:00:00
Aquarians and Cancerians 'make bad drivers'
Melbourne, Sept 7 ANI: Aquarian and Cancerian drivers are more likely to crash their car, according to a new data.The report, released by AAMI, suggests that although Aquarians and Cancerians are protective, cautious and intuitive, but when it comes to driving, their performances fall flat."Among their more positive traits, Aquarians and Cancerians are said to be protective, cautious and intuitive," The Daily Telegraph quoted AAMI Corporate Affairs Manager Mike Sopinski, as saying. "However, their moody, unpredictable, and touchy side may explain why Cancerians and Aquarians are more likely than the average driver to lodge a claim for crash-related car damage," he added.As part of its latest Crash Index, the AAMI reviewed the over 212,000 claims from 2007, finding Cancerian and Aquarian drivers had the highest claims incidence rate."Of all the signs of the Zodiac, Librans and Virgos have the lowest claims incidence rate 14.9 and are less likely than the average driver to have a crash-related claim, making them a safer risk from an insurance perspective," Sopinski said."This could be attributed to some of the more positive behavioural traits they are said to have, such as Virgos' meticulousness and reliability, and Librans' diplomacy and urbaneness," he added. ANI
2008-09-07 00:04:07
Make Sure Your College Student Is Covered
My son is about to start college and will be living in a dorm this year. Will my homeowners insurance cover his computer and other electronics in his room And do I need to tell my auto insurance compa...
2008-09-05 05:04:10
Auto insurers revvin' up their rates
After two years of declines, car insurance rates in New York are climbing again. That's bad news for New York drivers, who already pay the second-highest premiums in the country and are dealing wi...
2008-08-25 10:41:58
Car dealers fined over insurance
Five motor dealerships have been fined by the Financial Services Authority for mis-selling payment protection insurance....
2008-08-24 09:47:34
Dealers fined in PPI mis-selling crackdown
The FSA penalises five car dealers for failing to monitor advice given by their sales staff as it steps up its campaign against payment protection insurance mis-selling...
2008-08-22 17:08:40

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No insurance claim for Tatas, New India gains

Chennai, Oct 1 IANS Auto major Mahindra and Mahindra Ltd plans to invest around Rs.8 billion $174 million in its used car business, being done by Mahindra First Choice Services Ltd MFCS under the brand of CarXSpace, a top group official said here Wednesday.

Poor ratings cited for 13 booster seats AP

HYDERABAD

Car firms bet on festivals

Aquarians and Cancerians 'make bad drivers'

Make Sure Your College Student Is Covered

Auto insurers revvin' up their rates

Car dealers fined over insurance

Dealers fined in PPI mis-selling crackdown