The government is believed to have approved a bill, proposing amendments to the existing Motor Vehicles Act, to replace an Ordinance brought out last year for enabling plying of e-rickshaws in the National Capital.
According to sources, the Cabinet this evening approved Motor Vehicles (Amendment) Bill to be tabled in the upcoming Budget session of Parliament.
Luxury carmaker BMW on Wednesday introduced its costliest car in the country by rolling out the ‘i8’ sports car, which also is its first model hybrid car.
At Rs 2.29 crore ex-showroom Mumbai, BMW i8 is also the first offering from the German car major?s sub-brand i, which focuses on sustainable mobility and hitech car development.
The machine sports a 1.5-litre petrol engine and a 131-hp electric engine, offering a combined power of 266 hp, a combined mileage of 47 kmpl and can gain a speed of 230 km.
Seeking to regain its lost market share in the mid-sized sedan segment, Hyundai Motor India Ltd (HMIL) today launched an updated version of Verna, priced between Rs 7.74 lakh and Rs 12.19 lakh (ex-showroom Delhi).
The model, which competes with Honday City and Maruti Ciaz, will be available in both petrol and diesel options and have ten variants.
“The world sedan will further strengthen our line up in the sedan segment,” Hyundai Motor India Ltd Managing Director and CEO B S Seo told reporters here.
The Hyundai Verna has sold over 2.3 million units globally, he added.
Automobile manufacturer GM India Monday said it will introduce its sports utility vehicle (SUV) Chevrolet Trailblazer this year and multi-purpose vehicle (MPV) Spin in 2016.
However, the company did not divulge further details about the launch dates of the two vehicles.
“GM India’s focus is on significantly expanding its presence in the Indian market by enriching its products, quality and the entire purchasing experience,” said Arvind Saxena, president and managing director, General Motors India.
Engineers have created the world’s very first ticklish car which “giggles” when touched at sensitive areas.
The new Toyota Yaris with a “TICK LME” number plate, which was unveiled for Red Nose Day, reacts to touch by lighting up and flashing its headlights and indicators, spraying water from the windscreen washer fluid spouts and moving as if it was chuckling, in addition to a laugh recorded by Red Nose Day legend Lenny Henry, the Daily Star reported.
Daimler India Commercial Vehicles (DICV) has tied up with Himachal Pradesh Gramin Bank for financing of commercial vehicles.
The company has inked a Memorandum of Understanding (MoU) with the Himachal Pradesh Gramin Bank to provide commercial vehicle financing packages to BharatBenz customers in the state, DICV said in a statement.
As part of the MoU, Himachal Pradesh Gramin Bank will evaluate the financial needs of the clients and develop appropriate financing packages to BharatBenz customers, it added.
Honda Cars India on Thursday launched a CNG-ready variant of its compact sedan Amaze, priced at Rs 5.99 lakh (ex-showroom Delhi).
The new variant Amaze 1.2 S MT Plus (i-VTEC) is modified petrol Honda Amaze which is compatible for CNG fuel option, Honda Cars India Ltd (HCIL) said in a statement.
The Honda approved CNG kit will be fitted to the new variant at the company’s dealerships located in cities where CNG fuel is available in the country at an extra installation fee of Rs 54,315, it added.
As part of expanding its offerings, ultra luxury car maker Rolls-Royce Motor Cars Ltd will roll out a new convertible model soon in the market, a top company official said on Thursday.
“We have announced plans to launch another convertible. We have not said what that will be. But we will very soon launch the vehicle”, Rolls-Royce Motor Cars Ltd General Manager, Asia-Pacific, Sven J Ritter told PTI here.
“It is very exciting news. When we launch, it is going to be available across the globe.”
German luxury car maker Mercedes-Benz on Wednesday launched the diesel variant of its C-Class sedan, priced up to Rs 42.9 lakh (ex-showroom Delhi).
The company has launched the C-Class diesel in two trims, the ‘C 220 CDI Style’ variant priced at Rs 39.9 lakh and the ‘C 220 CDI Avantgarde’ priced at Rs 42.9 lakh (all prices ex-showroom Delhi), Mercedes-Benz said in a statement.
The diesel variants of the new C-Class will be available as completely built units (CBU) only, it added.
In a slow start to the year 2015, domestic passenger car sales rose 3.14 percent in January, which industry body SIAM described as “realistic levels” considering the current economic situation.
As per the latest data released by Society of Indian Automobile Manufacturers (SIAM), car sales in India in January stood at 1,69,300 units as against 1,64,149 units in the year-ago month.
Force Motors plans to set up a manufacturing facility at Chakan near Pune to produce a range of parts including engines, gearboxes and axles with annual capacity of 50,000 sets.
The company’s board has approved, as per the circular dated February 7, establishment of factory, Force Motors Ltd said in a filing to the BSE.
“The company already owns the land and necessary steps to convert the use of the land and obtain necessary permissions for construction and establishment of such a factory are being taken,” it added.
Tata Group Chairman Emeritus Ratan Tata has invested in online auto classified services provider, CarDekho.Com, indicating the strength of India’s rapidly growing digital consumption market.
It is Tata’s fourth such investment in an e-commerce firm. Last year, the business leader had invested in marketplace major Snapdeal, furniture e-tailer Urban Ladder and online jewellery seller BlueStone.
“Mr Tata, a deeply revered man in the Indian auto sector, has for the first time ever joined hands with an auto portal by investing in personal capacity.
Mostly used in windmill blade control, solar energy systems and other niche applications, supercapacitors could soon be used widely in cars and trucks to boost fuel efficiency, says a study.
Unlike slow and steady batteries, supercapacitors gulp up energy rapidly and deliver it in fast, powerful jolts.
Automobile industry body SIAM wants Finance Minister Arun Jaitley to reduce excise duty on automobiles in the upcoming Budget to help the sector combat demand slowdown.
Besides, measures towards restarting stalled infra projects to help revive demand particularly of commercial vehicles should also be put high on the agenda, SIAM feels.
“We expect reduction of excise duties on automobiles, which is required considering market conditions and demand now,” Society of Indian Automobile Manufacturers Deputy Director General Sugato Sen told PTI.
Buoyed by the impressive performance in 2014, luxury car major Mercedes-Benz India has planned to expand its network, particularly in Eastern India.
“A qualitative network expansion planned for 2015 is pivotal for the brand’s expansion and growth in India,” said the Managing Director and CEO of the company, Eberhard Kern.
Kern said 14 more outlets are in the pipeline to be inaugurated this year in matured as well as emerging tier II and III cities in continuation of the ‘go to customer’ strategy of Mercedes-Benz.
Japanese two wheeler maker Honda Motorcycle and Scooter India (HMSI), planning to launch 15 new models (upgraded and brand new ones) next year, targets to sell 4.7 million units next fiscal (2015-16) up from 4.5 million units in 2014-15, said a top company official.
The company, planning to launch locally assembled 650cc bike called CBR 650 this July, is mulling to have an exclusive distribution network for it.
With 34% market share in the luxury car segment, Audi India is expecting to clock a double digit growth in the current year, an official of the company said.
“This year, the market is expected to grow by six to seven per cent. We expect to clock double digit growth during the current year,” Joe King, Head of Audi India, said.
King said that the expected double digit growth would be backed by the launch of more models during the year.
Homegrown auto major Tata Motors on Thursday reported a 25.47 percent decline in its consolidated net profit at Rs 3,580.72 crore for the third quarter ended December 31, 2014, pulled down by its Indian operations.
The auto major had posted consolidated net profit of Rs 4,804.8 crore in the same quarter last fiscal.
Consolidated net sales during the third quarter increased by 8.83 percent to Rs 69,121.61 crore, as against Rs 63,512.51 crore in the year-ago period, Tata Motors said in a filing to the BSE.
Auto major Tata Motors today reported a 25.5 per cent drop in its consolidated net profit at Rs 3,581 crore for the December quarter due to a massive loss in domestic business and a marginal dip in its bread and butter unit JLR’s profit.
The company has also said it is cautiously optimistic about cash flow at JLR next year due to a massive capex of up to 3.8 billion pounds involving its China venture and other expansion in Britain, where the company is setting up a new engine facility, and in Brazil.
Japanese auto major Honda is undertaking an aggressive market expansion ride in the Indian two-wheeler segment with 15 new launches in the next fiscal year, while setting eyes on annual sales of 50 lakh units.
Honda Motorcycle & Scooter India (HMSI), the company’s wholly-owned arm, today launched a new version of its flagship scooter model Activa priced at Rs 48,852, while unveiling five new products.
Ford Motor said today it was adding 1,550 jobs in response to growing consumer demand for its new aluminum-bodied F-150 pickup truck.
Ford said the additional jobs will support stepped-up production of the 2015 Ford F-150, which went on sale in December. The F-150 is the best-selling truck in the United States and the all-new lighter version was named North American truck of the year at last month’s Detroit auto show.
Luxury car manufacturer Porsche on Tuesday launched latest version of its sports car ‘911 Targa’ in India, priced up to Rs 1.78 crore (ex-showroom Delhi).
The introduction of the modern classic in the country marks the continued progression of the Porsche 911 family, as the new Targa 4 and 4S models join the brand’s product line-up, Porsche India said in a statement.
The car comes in two variants–911 Targa 4 and 911 Targa 4S, priced at Rs 1.59 crore and Rs 1.78 crore respectively (ex-showroom Delhi).
Hit by price hikes following withdrawal of excise duty concessions, car sales in India began on a tepid note this year with main players Maruti Suzuki and Hyundai posting single digit growth in January, while others like GM India and Ford saw decline in sales.
Tata Motors and Honda Cars India were, however, exceptions posting healthy double-digit growth rates during the month.
Maruti Suzuki India’s domestic sales increased by 9.3 percent in January to 1,05,559 units as against 96,569 units in January 2014.
The country’s largest car maker Maruti Suzuki India (MSI) on Monday reported 13.9 percent increase in total sales at 1,16,606 units in January 2015 as against 1,02,416 units in the same period last year.
The company said its domestic sales increased by 9.3 percent during the month to 1,05,559 units as against 96,569 units in January 2014.
Sales of mini segment cars, including, Alto and WagonR, declined by 7.3 percent to 35,750 units as compared to 38,565 units in the year-ago month, MSI said in a statement.
Hinduja Group flagship company Ashok Leyland is “reasonably bullish” on its growth plan and is on the “trajectory” to reduce debt, a top company official said here today.
“We are reasonably bullish on the outcome of the company in the fourth quarter (of 2014-15). Our debt equity ratio has come down to 1:1. We will certainly look at reducing the debt even in March (quarter) also. We are on the trajectory to reduce debt”, Ashok Leyland Chief Financial Officer Gopal Mahadevan told reporters.