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Wednesday, January 12, 2011

Business News

  • BMW maintains lead over Mercedes-Benz
  • Mahindra Finance, Rabobank from JV
  • IDC, Cyber Media to end partnership

BMW maintains lead over Mercedes-Benz

BMW India Pvt. Ltd maintained its lead over Mercedes Benz India Pvt. Ltd in the luxury car market for second year in a row.
BMW registered a growth of 73% in 2010 to sell 6,246 units against 5,819 sold by Mercedes. Audi India also posted 81% growth to end the year at 3,003 against 1658 units sold in 2009.

Mahindra Finance, Rabobank from JV

Mahindra and Mahindra Financial Services Ltd said on Monday it has entered into a joint venture (JV) with De Lage Landen Financial Services Inc., a wholly Group.
The JV firm, Mahindra Finance USA Llc, in which the initial investment will be around $5.02 million (`22.8 crore), will provide financing to US dealers for purchase of wholesale inventory, dealer purchases of Mahindra products and retail financing amongst other things, it said in a statement.

IDC, Cyber Media to end partnership
Global entity IDC and diversified group Cyber Media India Ltd will now pursue their own market research business plans from March, bringing an end to a 24year partnership focused on information technology research, the two companies said in a joint statement.
Cyber Media was IDC's partner and representative for its research business in India. The partnership, which started in 1987, provided data and trend analysis to the information and communication industry in India