Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

02 November 2011

Toyota's Sales Dropped 8% Due To Shortage Of Corolla Cars

Japanese carmakers Toyota and Honda continue to struggle in the US as they report weaker-than-expected sales for October.

Toyota's sales dropped 8% due to a shortage in supply of its Corolla cars, while Honda's numbers fell 0.5% from a year earlier.

Sales of the two firms have dipped in the US after the quake and tsunami hurt their production earlier this year.

However, Nissan reported an 18% jump in sales during the period.

"I know I predicted at the start of this month that October sales would exceed year-ago levels. That was an aggressive goal," said Bob Carter, head of Toyota brand sales for the US.
Growth concerns

Overall car sales in the US increased by 7.5% during the month, with Volkswagen and Chrysler reporting the biggest gains with 40% and 27% respectively.

But despite those numbers there are concerns about the long term prospects of the sector, not least due to fears of a slowdown in the US economy and the debt crisis in Europe.

"We don't have a strong recovery to begin with and the last thing it needs is a couple of body blows," said Paul Ballew of Insurer Nationwide.

"Every time this industry starts to feel better about itself, you kind of look at the world around and gulp," he added.

However, Al Castignetti, Nissan's US sales chief, said that despite concerns of a global economic slowdown, car sales in the US may hit their highest level in the last three months of the year.

"We've been dealing with this all year," he said. "People have been conditioned to deal with the headlines."

Source BBC

29 October 2011

Organisers arrested for cheating after Metallica concert is cancelled in Delhi

Four people, including a senior executive of the event management company that has organised the Metallica concerts in India, have been arrested after the rock show scheduled for Friday evening in Gurgaon was cancelled.

The Gurgaon police said the operational head of DNA Entertainment Network for Metallica concerts, Rajesh Chandwani, was among the four people arrested on charges of cheating people and breach of trust. The other three were his team members - Umesh, Ashok Singh and Savio Faleio. The police said they had received several complaints after the show was cancelled. They allege that the organisers sold more tickets than capacity and that they were never informed before the cancellation was announced. The organisers had cited "technical reasons" for scrapping Friday's gig.
Once we, along with DNA, the promoters of the show, determined that there was a failure of a security barricade in front of the stage that could not be adequately repaired, the promoter reluctantly announced the postponement of the show until Saturday. Unfortunately, on such short notice the promoters were unable to secure a permit for a show on Saturday. Therefore, DNA announced that we would not be able to play in Delhi. Within the next 24 hours a notification will be issued by DNA regarding the process for full refunds.
We arrived in Delhi on Friday very excited and ready to play our first show ever in India at the F1 Rocks concert. However, immediately at the end of our afternoon press conference at a hotel near the venue, we were notified that there was a serious question as to whether the show could proceed with regard to the safety of the concert audience. And our first and foremost concern is always for the safety of you, the fans.

Once we, along with DNA, the promoters of the show, determined that there was a failure of a security barricade in front of the stage that could not be adequately repaired, the promoter reluctantly announced the postponement of the show until Saturday. Unfortunately, on such short notice the promoters were unable to secure a permit for a show on Saturday. Therefore, DNA announced that we would not be able to play in Delhi. Within the next 24 hours a notification will be issued by DNA regarding the process for full refunds.
We are deeply disappointed with this news as we were looking forward to our first experience in India as much as you guys were. Keep watching for updates here as additional details are determined and confirmed.
Over 25,000 people had gathered at the Leisure Valley Park in Gurgaon's Sector 29 to watch the concert. Less than two hours before the heavy metal band was to play, the organisers postponed the concert to 4 pm on Saturday. Then, after some angry fans trashed equipment, came reports that the Delhi gig had been cancelled altogether.