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MOTOR
At Punchi Car Niwasa:
LB Finance opens leasing counter
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Factoring, Corporate Lending and
Investments Deputy General Manager Ransith Karunaratne
opening the counter. Channel Development Manager Chaminda
Dissanayake, Punchi Car Niwasa Chairman Sarath Yapa Bandara
and Punchi Car Niwasa Managing Director P Malwatte were also
present |
LB Finance recently launched their latest business window at Punchi
Car Niwasa, continuing with its expansion strategy. The LB Finance
Leasing Counter was inaugurated concurrently with the opening of Punchi
Car Niwasa's new office complex recently, with LB's Factoring, Corporate
Lending and Investments Deputy General Manager Ransith Karunaratne, in
attendance as the chief guest for the occasion. Also present at the
ceremony were LB Finance Channel Development Manager Chaminda
Dissanayake, Punchi Car Niwasa Chairman Sarath Yapa Bandara and Punchi
Car Niwasa, Managing Director P Malwatte.
"It is truly a privilege for me to be here today as the Chief Guest,"
said Ransith Karunaratne. "LB Finance is ready to take on 2011 with many
new openings and launches planned as a part of our extensive expansion
strategy. This new venture with Punchi Car Niwasa promises to be a
highly lucrative undertaking for both companies, and will greatly
simplify the leasing process for Punchi Car Niwasa customers," he said.
LB Finance is reputed for its revolutionary leasing packages amongst
many other financial services. With all its years of experience in the
industry, LB Finance offers unmatched expertise in leasing, which is one
of the company's strongest domains.
General Motors China sales up in January
General Motors said Wednesday that its sales in China, the world's
largest car market, jumped 22.3 percent year-on-year in January to set a
new monthly record.
The US auto giant said in a statement that with its Chinese joint
ventures it sold 268,071 vehicles in the country last month, topping the
previous monthly record of 230,038 set in March 2010.
GM's sales in China last year increased 28.8 percent year-on-year to
an annual record of 2.35 million vehicles, outstripping sales in the
United States for the first time.
China's booming market has become increasingly important to GM as
demand weakens in the United States.
China, where GM's international operations are now based, overtook
the United States as the world's biggest auto market in 2009.
Auto sales in China rose more than 32 percent in 2010 to 18.06
million units, according to the semi-official China Association of
Automobile Manufacturers (CAAM).
Analysts have said last year's growth had partially been boosted by
consumers snapping up cars amid worries that Beijing would scale back
stimulus policies, including tax cuts introduced to combat the financial
crisis. AFP
Prestige launches limousines in Sri Lanka
Prestige Limousines launched its new limousines, the Toyota Land
Cruiser Prado limousine - the world's first Toyota limousine on that
brand, the Chrysler 300C limousine and the Hummer H3 limousine last week
at the BMICH Hall B.
The chief guest on this event was Namal Rajapaksa MP along with a
host of Ministers, cricketers, celebrities and distinguished guests.
The owner of the first limousine Casons Rent-A-Car Managing Director
Zakir Ahamed was handed over the keys to the Chrysler at the event.
Suzuki Maruti Alto races in to national championship
Giving Suzuki Maruti Alto cars and drivers an exclusive opportunity
to prove their racing skills, the national championship features a
competitive series of five races for Suzuki Maruti Alto cars. Sri Lanka
Automobile Sports (SLAS), organizers of the championship, released its
program of events for the racing year 2011.
 The seven races are exclusively for Suzuki Maruti Alto cars, and will
be conducted on different tracks, making for a true test of not only
speed and driving skill but also of endurance, handling and reliability
of vehicle and driver. Associated Motorways (Pvt) Ltd., main sponsors of
the national championship was overjoyed for the excitement and thrills
awaiting loyal Suzuki Maruti Alto owners and spectators.
They expect a bold showing from participants, the company said in a
statement.
Expected to be hugely popular with racing enthusiasts and interested
members of the public, the races which are held on tarmac and on hill
climb tracks are spread over the entire year with the final scheduled
for October 15-16 at the Pannala Race Track.
The champion will be awarded the Grand Trophy and prize money of Rs
100,000.
Interested parties can visit www.slas.lk for entry applications.
United Motors Brand Ambassador Dinesh shines at Carlton Super Cross
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A stage in
the Carlton Super Cross 2011 |
United Motors (UML) sponsored Dinesh Deheragoda dominated the motor
cars category winning both races of the SL GT up to 3500 cc super car
event at the Carlton Super Sports Festival 2011 which was held at
Tissamaharama recently.
The Mitsubishi Lancer Evolution X driven by Dinesh proved to be very
competitive in terms of its performance. Dinesh who was on pole position
after clocking the best timing for the day was able to retain this
position on race day by finishing first in both races.
He was challenged by Aravinda Premedasa on many occasions who
competed in a Mitsubishi Lancer Evolution VII.
Chief Executive Officer and Executive Director Chanaka Yatawara
congratulated Dinesh on his victory and said that it was a very positive
start for 2011 championship for super cars.
This event saw over eight Mitsubishi Lancer Evolution's of various
generations taking part.
Among UML brands represented with Dinesh were Mitsubishi, Yokohama
and Valvoline Lubricants
US Toyota probe finds no electronic flaws
Electronic flaws were not to blame for unintended acceleration in
Toyota vehicles that forced the Japanese automaker to recall eight
million cars, a US government probe has found.
"Toyota's problems were mechanical, not electrical," Transport
Secretary Ray LaHood said, announcing the results of a 10-month
investigation that backed Toyota's claims.
The probe - which called on NASA scientists to examine whether the
acceleration was due to faulty electronics - pointed to two previously
known mechanical faults as the sole causes.
The accidents, which have been linked to at least 89 deaths, were
blamed on a "sticking" accelerator pedal and jammed floor mats, as the
automaker had originally found.
Toyota Motor said the investigation "confirms the reliability" of the
company's electronic throttle control systems.
"From here on, we intend to listen to our customers even closer and
to offer not only safe vehicles but vehicles that provide peace of
mind," the automaker said in a statement.
The automaker's shares soared 4.58 percent to 3,650 yen Wednesday in
the wake of the results of the US probe and on upbeat earnings.
A lawyer leading a class action suit against Toyota in Santa Ana,
California noted after the results were released, however: "I don't
think this report ends this matter one bit."
"As far as we could tell there are thousands of complaints out there
from very credible people. Some of our plaintiffs in the case are police
officers who didn't have a sticky pedal or floor mat problem," said
Steven Berman. "People have had their cars fixed - the pedals and mats -
and NHTSA (the National Highway Traffic Safety Administration) is still
getting complaints," he said.
Amid a rash of injury reports, lawsuits and allegations of a cover-up
the Transport Department called in NASA to examine whether there was a
broader problem.
The probe analyzed 280,000 lines of computer code used to run
Toyota's vehicles for electronics problems and examined whether
electromagnetic radiation might have played a role.
NASA investigators said electronic problems could result in throttle
openings of around five degrees, but that would hardly be felt if the
vehicle was already moving.
LaHood described the probe into Toyota and Lexus vehicles as "one of
the most exhaustive, thorough, and intensive research efforts ever
taken." AFP |
