Auto Sector

BMW unveils new M3 coupe

BMW unveils new M3 coupeChennai, Mar 11 : Germany's BMW, the world's largest premium carmakers, on Tuesday launched the new BMW M3 coupe in Chennai.

First of the M series from BMW, M3 coupe is a two-door luxury car with a 3999cc V8 petrol engine. Top-notch performance and pure luxury combined with perfect handling render this car all reasons to justify its worth.

In view of the strong growth of the Indian economy, it has a goal of annual sales of 2000 vehicles in 2008 and to extend it to 10,000 cars till the year 2010.

TVS Motor Launches New ‘TVS Flame’ @ Rs 46,000

TVS Motor Company of TVS Group has once again woos its customers by launching the new TVS Flameversion of the 125-cc motorcycle ‘TVS Flame’.

The newly launched motorcycle is framed with an engine that features a single spark plug.

2.3% Up In February, Car Sales Likely To Go Further Up In March

The automobile industry, which witnessed a marginal 2.3% growth in car sales in the domestic Auto Salesmarket in February, is expected to see further surge in sales in the current month of March. The reason mainly was that people postponed new purchases on expectation of a tax cut in the Budget, which came true for small car buyers.

Tata Motors Rolls Out ‘Sumo Grande’ In Jalandhar

Tata Motors has rolled out its latest passenger vehicle ‘Sumo Grande’ in Jalandhar.
Sumo Grande
Along with variable geometry turbocharger, the new version of the Sumo utility vehicle comes with a longer wheelbase of 2550 MM.

Powered by new generation 2.2 litre direct injection common rail engine, Sumo Grande has all comforts of a small family car that fulfills the requirements of city customers in the regions of drivability, manoeuvrability and fuel efficiency.

Mitsui Corp. signs JV pact with Yamaha Motor to pick 30% stake in JVC

Mitsui Corp. signs JV pact with Yamaha Motor to pick 30% stake in JVCMitsui Corporation, Japan’s second-largest trading company, has announced that the company has set up a joint venture with Yamaha Motor India to produce motorcycles in India.

Further, Mitsui, reveals that it will pick up a 30% stake in Japanese two-wheeler giant Yamaha Motor’s new motorcycle manufacturing company for Rs 168 crore.

Last year, Mitsui had acquired 3% stake in the parent company Yamaha Motors of Japan.

Volvo To Roll Out ‘SUV XC60’ In Indian Market By 2009

Volvo Car Corporation has announced that it would roll out its sports utility SUV XC60vehicle XC60 in the Indian market by 2009.

As part of its product portfolio expansion in the country, the company said that the new SUV would hit Indian roads by the coming year (2009).

In a declaration, Volvo Car India Managing Director Paul de Voijs said, “With the launch of Volvo XC60 in India we will be broadening our model range to attract more customers with an active, urban lifestyle.”

"With the expansion of our product offerings in 2009 we will further expand our customer base in the country,” he added.

TVS Motor’s Two Wheeler Sales Dip In Feb

Among the top ten two-wheeler manufacturing companies in the world, TVSTVS Motor Motor Company has announced that the overall two-wheeler sales of  the company has shown downward trend during February 2008 to 95,235 units, as against 1,20,110 units in the same period last fiscal.

According to the members of the company, the decline in two-wheelers sales is due to restricted availability of retail finance and high interest rates together with stringent norms followed by financiers.

Besides, the non-availability of the recently launched 125cc TVS Flame has made the company practically lacking in the executive segment that forms 50% of the market.

Electric car that costs less than two pence a mile hits UK market

London, March 3: Electric CarThe British car market is now selling an electric car which costs less than two pence a mile to run, created by a father-son team.

Stevens Vehicles Ltd has installed a domestic power socket in its five-seater Zecar through which the vehicle can recharge its lead-acid batteries in less than eight hours.

The car priced at 15,000 pounds has a top speed of 56mph, and a maximum range of 56 miles.

It has been designed by one Professor Tony Stevens in Port Talbot, South Wales.

Stevens’ banker son Peter is managing the business side, reports British tabloid The Sun.

Tata Motors Rolls Out ‘Sumo Grande’ In Market

Tata Motors has rolled out the new version of the Sumo utility vehicle (SUV)Sumo Grande that it declared at the Delhi Auto Expo last month.

The new ‘Sumo Grande’ has been specifically designed like a rugged ‘SUV’ together with all comforts of a small family car in order to fulfill the requirements of city customers in the regions of drivability, manoeuvrability and fuel efficiency.

In a declaration, S. Krishnan, Vice President of the Passenger Car Business Unit of TATA Motors said, “The Sumo Grande is for customers in the urban and semi urban markets. That is what we are really planning to cater to.”

Budget 2008: Impact on Auto Sector

Car Prices Slashed After Budget
The Budget 2008 has finally brought welcome relief to the auto sector, which was otherwise spinning under a slowdown caused by firm interest rates.

Mr. P. Chidambaram, Finance Minister on Friday, has announced a surprise cut in excise duty for small cars (4,000 mm in length and engines with 1.2 litres capacity, if petrol or 1.5 litres capacity, if diesel) from 16% to 12%.
With this move, small cars will cost Rs. 7000 to 16000 less. Maruti Suzuki, a major listed player in the passenger car market, will be the main beneficiary.

Budget Impact: Hero Honda reduces bike prices by Rs 2400

Hero Honda reduces Bike pricesThe country's largest two-wheeler maker, Hero Honda Motors Ltd, has finally reduced prices on all its models, ranging from Rs. 1000 - 2400.
The company has reduced the price of Splendor plus by about Rs 1300 (ex-showroom Delhi) and of Karizma by about Rs 2400 (ex-showroom Delhi).

Similarly, the price of its best-selling 150cc bike Hunk has been reduced by about Rs 1800 (ex-showroom Delhi).

Recently, the company has signed as a co-sponsor for Twenty20 Indian Premier League (IPL), scheduled to start from April 16.

Tata-JLR Deal Likely To Finalize By Next Week

Tata-JLRUS car-maker Ford is likely to settle down the transaction with the India-based conglomerate Tata for the sale of the luxury brands, Jaguar and Land Rover, by the coming week.

Both the companies are expected to enter a deal valued around USD 2 billion next Wednesday or shortly afterwards.

The unions of both the companies also welcomed the deal believing that there is no immediate threat to the British jobs or manufacturing.

The official statement is being timed for after the Geneva Motor Show, so that the two companies can try to encourage their products at the key European showcase.

World’s first wooden car that is faster than a Prosche

London, February 21: Wooden CarStudents at North Carolina State University have unveiled a wooden sports car, which can run faster than a Porsche or a Lamborghini, as part of their graduate project.

Joe Harmon, head of the project, has revealed that the car has been named ‘Splinter’.

He says that it can produce 700bhp from its twin supercharged, 4.6 litre V8 engine, almost 300bhp more than a Porsche 911 GT3. The car has a top speed of 240mph, he adds.

Joe has revealed that the two-seater has been made from a combination of maple, plywood, and MDF. It weighs 1,134kg, 240kg less than the lightweight Porsche.

TVS unveils first “e-scooter” in Gujarat; to launch all over India by April 2008

TVS scooty Teenz Electric
Automobile manufacturer TVS has finally launched the electric variant of its existing model Scooty Teenz in Gujarat. The vehicle is also the first electric scooter model of the company.

The vehicle is powered with 800 watt motor and can carry up to 130 kg of load and deliver an average range of 40 Km per nine hours charge at top speed. However, this can increase by fifty percent if the rider opts for lower speeds by using a unique feature of this electric bike, the range selector.

The company’s target customers are young women who need mobility and whose daily travel is limited to around 15-25 km per day.

Fiat To Utilize Tata’s JLR Technology

FiatFiat desires that Tata will share its technology regarding Jaguar and Land Rover, the two global brands it is trying to capture from Ford.
Fiat is considering the technology made by Jaguar and Land Rover to use for its ‘Alfa Romeos’ and ‘Maseratis’, a company report said.
Fiat’s Chief Executive Sergio Marchionne told, “Fiat’s close association with Tata would make it possible to share Jaguar’s rear-wheel drive chassis platforms and Land Rover’s four-wheel drive systems.”

Maruti Suzuki declares a 4.23 % surge in Vehicle Sales; Stock up 7%

New Delhi-based automaker, Maruti Suzuki India has registered a 4.23% rise in vehicle sales at 68,107 units in January 2008 as compared to 65,341 units in same period, previous year.

Of this, domestic sales grew by 2% to 63,459 vehicles against 62,248 vehicles while exports jumped 50% to 4,648 vehicles from 3,039 vehicles.

The company's volume in the domestic A3 segement (Esteem, Sx4, Baleno) has also increased by 12% to 2,939 units, and 17% in the C segment (Omni, Versa) to 8,861 units.

On the other hand, in the flagship A1 segment (M800), the company has recorded a 28.35% fall in sales at 5470 units in January 2008 against 7021 units in January 2007.

Wheels India fixes Feb. 15 as the record date for interim dividend

The automobile wheels manufacturer, Wheels India has announced that for the payment of interim dividend, the company has fixed Feb. 15, 2008 as the record date.

The company further informed that the board of directors of the company has declared the payment of interim dividend at the rate of 30% on the paid up capital for the fiscal 2007-2008.

The company manufactures steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment in India.

The company also has technical and financial collaboration with Titan Europe.

Tata Motors plans to launch ACE in the United States

Indian Auto major Tata Motors has finally decided to make its debut in the United States. The company is planning to enter the US market with ACE and looking for a partnership with Chrysler for its US foray.

The company is engaged in manufacture of commercial and passenger vehicles primarily in India. It offers passenger cars, multi-utility vehicles, and pick-ups; medium and heavy commercial vehicles, such as rigid trucks, tractor trailers, and tippers; commercial trucks; buses and defense related vehicles.

The company is now planning to launch its mini truck named ACE in the United States and also planning to distribute and market other products in partnership the Chrysler. The company will be launching a newer version of the ACE in USA.

Steel Strips Wheels bags first export order; stock up 8%

Steel Strips Wheels Limited (SSWL), a part of the Steel Strips Group has announced that the company has received its first export order worth Rs. 75 crore for its upcoming plant at Oragadam near Chennai from PSA Peugeot Citroen.

France-based, PSA Peugeot Citroen is the second largest manufacturer of cars in Europe and the leading manufacturer of light commercial vehicles.      

The Export Order is for the supply of 13,75,000 Steel wheel Rims over a period of 5 years, an official release said.
The Chennai project is likely to start trial production in first quarter of year 2008-09.

General Motors India to sell 90,000 automobiles, plans to start 2nd plant by Aug’08

General Motors (GM) India, the Indian arm of the US automobile maker, has announced that the company has set a target of selling 90,000 automobiles in 2008.

Karl Slym, President and Managing Director of GM India said, "We have sold 60,000 units in 2007. We plan to increase the production by 30,000 this calendar year, capturing 4 to 4.5 % automobile market shares this year from the existing 3.2%."

“Our target in 2008 would be to capture 12 % market share in passenger car as against 9% we currently have," he added.

Slym further said that the SUV segment was witnessing a steep growth in the country, so to increase presence in the Indian market, GM India would continuously look at expanding the portfolio.

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