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Indian Auto Industry Update
20 Jan 2017
IndustryTata Motors future launches to have UV influence
China's big cities target slower growth in 2017
Tata Motors' JLR best example of UK's internationalist approach: Theresa May
Interviews & FeaturesMaruti Suzuki Ignis review
Cars, SUVs, MUVsMaruti Suzuki Ignis Review: Unconventional, funky but should you buy it?
Small car sales tepid, but big vehicles add momentum to Toyota's India ride
Car Review - Maruti Ignis - Individualistic, Idiosyncratic, Irrestible
Toyota Innova is highest turnover grosser for any brand in Indian PV market
Maruti Suzuki flags off its last leg of Rally Championship
Maruti Suzuki Ignis bookings cross 10,000 units
Funky, youthful new addition to Maruti's family of hatches
60% bookings for Tata Hexa is for automatic variants
Hey, youre just too funky for me
Maruti Suzuki Ignis bookings cross 10,000 units
Ford EcoSport Platinum Edition launched for Rs 10.39 lakh (ex Delhi)
Tata Motors design head says every car must have good look
A long drive to the city
Luxury CarsCommercial VehiclesConstruction & Agri Machinery2/3 Wheelers
Bajaj Auto launches 2 new Variants of KTM Bikes
UM Motorcycles opens its first dealership in Guwahati
New KTM RC 200, RC 390 launched starting from Rs 1.71 lakh (ex Delhi)
New Ducati Diavel Diesel bike guarantees to give an adrenaline rush
Bajaj plans 10-year road map for KTM
E-BikesComponents
Timken India in position to tap promise of tomorrow
Allied IndustriesMRF Gujarat factory to come up in a year
Rubber & tyre industries should build on their commonalities: Mammen
Bosch opens its first fully owned Car Service Centre in Bengaluru
Emissions / EnvironmentFinance & InsuranceOil, Lubricants & Alternative Fuels
Oil rises from 1-week low; US inventory data in focus
News MagazinesMaruti Vitara Brezza, TVS Apache RTR 200 win big at Autocar India Awards 2017
International NewsHottest debuts at the Detroit Auto Show
Volvo Cars and the art of autonomous driving
When mobility players converged on Las Vegas
Carmakers come to terms with new US diktat
BYD plans to sell cars in US
Panasonic, Tesla to extend pact
Bain Cap joins KSS to rescue Takata
China's auto sales grow at 5%: VW
Yamaha to launch GDR155 in ASEAN
GM adapts $1 b receipe for Indian market
Ford sets new template for rule-compliant ABS
Audi produces 8 millionth vehicle at its new Mexico plant
Tata Motors' JLR best example of UK's internationalist approach: Theresa May
German MPs to grill Volkswagen ex-boss Martin Winterkorn over 'Dieselgate'
Germany's auto industry warns 'hard Brexit' to stifle UK investment
Renault-Nissan electric car sales hit 400,000 globally in 2016
China's BYD plans to sell passenger cars in US in 2-3 years
New 2018 Ford Mustang unveiled with technology, design changes
Ex-Volkswagen CEO Martin Winterkorn denies prior knowledge of dieselgate'
These automakers could be Donald Trump's next targets
EconomyRupee down 5 paise to 68.13/$
Closing
Industry
Tata Motors future launches to have UV influence Shally Seth Mohilemint
Mumbai: Call it an attempt to feed into the burgeoning demand for utility vehicles (UVs) in the country, but starting 2019-20 most ofthe future launches of Tata Motors Ltd will be influenced by the UV design.
The change in tack by a company that till recently either made rugged looking UVs or sedate looking cars is being prompted by thegradual but steady shift in the buyer’s preference from cars to sports utility vehicles (SUVs) and the blurring of lines betweenthe two body types, said Timothy Liverton, president and head of advanced and product engineering at Tata Motors in an interviewon Wednesday, the day Tata Motors launched the Hexa—a six-seater, lifestyle UV.
One in every four, passenger vehicle that sells in India, is a UV, up from 16% five years ago, according to the Society of IndianAutomobile Manufacturers.
“We are going to see an increasing influence of utility vehicles on most of the future product launches,” said Liverton,adding that the Hexa, the model positioned as the lifestyle UV, is just the first one off the blocks. “We have got some veryexciting products in the pipeline,” said Liverton.
The Nexon, a compact SUV, will be the company’s next offering in the UV segment. It is expected to go on sale some time inthe second half of the current calendar year.
Besides a Land Rover-based platform code-named Q5 for the UVs, development of the company’s advance modularplatform (AMP), which will mark the beginning of a new generation of models expected in fiscal 2019-20, is also in the works, said aperson familiar with the company’s plans,who did not want to be named.“Perhaps, that’s when one can see amore pronounced impact of the UV-influenced design trend Liverton is alluding to,” he said. Liverton declined to comment onthe product pipeline or specifics, only saying that with the lines between cars and UVs blurring, a traditional segregation betweenthe two categories makes little sense.
Tata Motors is taking a leaf from the books of its rivals all of whom are looking to address the sweet-spot that lies somewherebetween cars and UVs. Puneet Gupta, associate director at I.H.S Markit, a sales forecasting and market research firm, said theRenault Kwid has set a new benchmark by bringing in a small car with SUV looks and encouraged by its success, most other
automakers, including Maruti Suzuki India Ltd and Hyundai Motor India Ltd, are working on a similar product.
“Most Indians aspire to drive big cars, with high ground clearance, roomy interiors without compromising on the comfort of acar. This is what has prompted companies to rethink product development, positioning and marketing strategy,” he said,adding that one will not see them positioning the car tightly in a segment. They prefer to leave it to the consumer to decide whetherit is an SUV, MPV or a cross-over.
Maruti Suzuki, which has been traditionally strong in cars, has hit the jackpot with the Brezza compact SUV by introducing comfortsand specifications which are typical of a car, in a utility vehicle. Mahindra and Mahindra Ltd, the UV market leader, which was a bitlate in seeing the changing preferences, is also changing tack.
The maker of Scorpio and Bolero which has seen its dominance come under threat, is seeking to introduce the specifications of acar into its SUVs and the first of such vehicles is being conceived by company engineers. Mahindra plans to introduce the vehicle,priced between Rs6 lakh and Rs9 lakh, Mint reported on 4 October 2016.
To be sure, Tata Motors is resting its hopes on the Hexa and expects it to be the company’s comeback model in a segmentwhich is growing at a much faster pace than cars and where rival brands from Maruti Suzuki, Toyota Kirloskar Motor Pvt. Ltd andFord India Pvt. Ltd, among others, have relegated it to the fringes. Its market share stood at less than 3% in the nine months toDecember.
Liverton said the success of the Tiago hatchback has given the Mumbai-based firm the much-needed traction in the car market .
The Tiago, which continues to have a waiting period of two to three weeks on select models nine months after its launch, hashelped Tata Motors gain volume and pick up market share. In the first nine months of the fiscal, its sales in the passenger carmarket climbed to 100,900 units from 82,298 units, while the market share inched up to 5.62% from 5.43% a year ago, according tothe Society of Indian Automobile Manufacturers.
http://www.livemint.com/Industry/C6JbZnlqN3xFDVBL9dNUVK/Tata-Motors-future-launches-to-have-UV-influence.html
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China's big cities target slower growth in 2017 The Times of India
Beijing: Economic growth in some of China's largest cities is expected to have slowed in 2016 and will continue to decelerate in2017, according to official estimates issued on Sunday.
The southwestern metropolis of Chongqing, which has been the fastest-growing major city in recent years with expansion rates ofmore than 10 percent annually, will target growth of around 10 percent in 2017, compared with a preliminary figure of 10.7 percentfor 2016, the city's government said on its official microblog on Sunday.
In Shanghai, the country's financial centre, authorities will target growth of around 6.5 percent this year, easing from an estimated6.7 percent in 2016, the official People's Daily reported on Sunday citing the city's government.
The world's second-largest economy likely grew by around 6.7 percent last year - roughly in the middle of the government's targetrange - but it faces increasing uncertainties in 2017, the head of China's state planning agency said on January 10.
China's leaders are likely to accept growth this year of around 6.5 percent, policy insiders say.Despite the relatively robust figures for major cities, slowing growth in provinces and regions that are home to heavy industry islikely to have weighted on China's economy last year.
http://timesofindia.indiatimes.com/business/international-business/chinas-big-cities-target-slower-growth-in-2017/articleshow/56572180.cms
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Tata Motors' JLR best example of UK's internationalist approach: Theresa May The Economic Times
Davos: Asserting that the UK will retain its "internationalist" approach despite Brexit, Prime Minister Theresa May today said thecountry's biggest manufacturer Tata is Indian, but still there cannot be anything more British than its product Jaguar Land Rover.
She also said Britain will step up to a new global leadership role and ink stronger free trade pacts with Europe while talks havealready started for new deals with India and several other countries.
May called upon the world to engage with each other to ensure globalisation and free trade works for all and benefits everyone.
According to her, forces of free trade and globalisation that have harnessed wealth and opportunities across the world and brokendown the barriers are somehow at risk of being undermined.
"Forces of far left and far right are at work in today's world and there are those playing politics of fear and despair. Politics ofmainstream needs to ensure they take care of genuine needs of the people," the British Prime Minister said.
"We want to be even more internationalist and that has been our role traditionally," she added.
"So, many of us have friends and relatives across the world. We will pursue a bold and strong free trade agreement with Europe,"
May stressed.
Noting that Britain has started talks for stronger trade pacts with India and several other countries, she said: "Our biggestmanufacturer is Tata which is Indian and still there can't be more British than Jaguar Land Rover."
Amid uncertainties over the impact of Britain's decision to exit the European Union, May said the UK will step up to a new leadershiprole including for free markets and a free world.
"Little over six months ago, millions of our people upset the odds... British people have chosen a new stronger Britain. Some of ourEuropean partners feel we have turned our back on them, but our decision to leave the EU was no way a rejection of our friends inEurope. It remains in our national interest that EU as an institution succeeds," she said.
May said talks of greater globalisation can make people fearful and these tensions are being greatly exposed through social media.
"But if we want to make it work, we must work together and this challenge requires new approach from the governments and fromthe businesses," the Prime Minister said, adding that governments would back the businesses to ensure the benefits are distributedamong everyone.
"I am determined that the people in mainstream politics listen to the people... I will make sure mainstream politics will respond to theconcerns of today and show how globalisation can work for everyone." May said.
Noting that too often the responsibilities we have to one another have been forgotten in a cult of individualism, she said, "we can'tleave economic prosperity to international market forces alone, governments must also step up".
"Business must demonstrate leadership... to show that everyone is playing by the same rules. If we are to maintain public consentfor a global economy, we need higher standards of corporate governance," May said.
She also stressed that businesses all have to play by the same tax rules.
Stating that a new approach from both governments and businesses to ensure all are included under the benefits of globalisation,the Prime Minister said, "Britain is by instinct a great global trading nation. We seek the freedom to build trade deals with friends, oldand new."
The UK will be best friend and neighbour to our European partners, but reach beyond Europe too, she added.
Further, the Prime Minister said Britain is no less British because it is home to people from around the world and derives strengthfrom the diversity.
"Responsive and responsible leadership will deliver security, prosperity and belonging for all," she said.
http://auto.economictimes.indiatimes.com/news/industry/polish-consumer-watchdog-launches-proceedings-against-volkswagen/56669327
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Interviews & Features
Maruti Suzuki Ignis review The Economic Times
Maruti Suzuki Ignis is making some noise for a few weeks now and well why not? It’s the country’s largest car makerMaruti Suzuki’s first launch of the calendar year 2017 and the new not so tall boy car is indeed worth all the hype it hascreated. We are in Chennai to test drive not one but all four different drivetrains on offer of the car.
Exterior:Maruti Suzuki Ignis doesn’t follow the traditional pattern of design which we have seen in the automaker's other cars. Sincethe inception of Baleno and Vitara Brezza the company has been aggressive and impressive with its car’s designs and withthe Ignis it’s a mix bag of emotions. The face of the car will instantly grab your attention - the bold, pretty face with DRLs (ordynamic day light opening (DLO) as the company would like to call) is new to this segment. Ignis has the right proportions and a bitunconventional design. The car is also strong on the outside thanks to the new generation rigid platform. Maruti Suzuki claims thatthe company along with its suppliers have invested over Rs 950 crore for the development of Ignis and the car has 98.5% localisedcontent.
LED projector headlamps with LED DRLs, fog lamps with chrome inserts adds to the overall appeal of the car. The company alsooffers dual tone exterior colour options in Ignis. Taking about the rear of the car, there is nothing wrong with the design the blackplastic cladding at the bottom is a bit overdone but the whole point was to give a break from the monotonous body colour. Thetail-lamps have been integrated nicely. The car is being sold through the company’s Nexa channel and so the Maruti Suzukilogo is missing. It only gets the Suzuki emblem.
Now the reason I call it not so tall boy car is because the car is not actually very tall. In fact, at 1595 mm the car is shorter than theRitz and much shorter than WagonR. Ignis has a good ground clearance of 180 mm and offers no problem over speed breakers inand around the city.
Interior:The cabin is much spacious and comfortable. It lives up to the expectation of a Nexa buyer who is looking the car as a premium
product and is in line with S-cross and Baleno’s interiors. Three people seating on the rear seat can be a bit dis-comfortingon long drives because of less shoulder-room but there is enough leg-room. The dashboard has finishings in black and ivory dualtone colour. The plastic quality on the Ignis is much better than some of the other cars in this segment. Toggle switch on theautomatic climate controller unit is something new and is well placed below the infotainment system but is available only on thetop-end manual variants.
The power-window switch on the driver’s and passenger's side is placed a bit lower than what we see on cars these daysand it almost hits the knees while driving and can get a bit uncomfortable on long drives. The plastic used around the power-windowswitch and on the door panel is not as good as what we see on the dashboard and feels a bit weak and not properly finished.Speedometer is wide, bright and looks very traditional. There is also a screen for digital display whose controls are on the steeringwheel.
Infotainment system:Maruti Suzuki Ignis also gets a 7-inch infotainment system very similar to what we have seen on the S-Cross, Baleno and VitaraBrezza. But on the Ignis the screen stands out and is not really integrated to the dash. It supports navigation, apple car play and thefirst car from Maruti Suzuki to support Google’s android auto. The system is fast and smooth but is available only on the topmanual variants of Ignis and not on the AMT (AGS) versions. We hope Maruti Suzuki introduces the same infotainment system atleast on the petrol AMT option. The AMT variants does get a regular non-touch music player which supports Bluetooth, USB, AUX.
Drive & Engine:Drive in Chennai can get difficult and also easy. After having stayed in this city for over 20 years, you kind of get to know about thetraffic and usual traffic chaos in the city, and thus, the drive can get really boring. But, Ignis surprised me a bit. I first drove thetopline 1.2L petrol manual variant in the dark. Yes, it was a night drive and I got to drive for about 15 kms. Fortunately orunfortunately the traffic was at its peak and the car grabbed a lot of attention. The drive feel is more like a hatch than a crossovervehicle.
The engine is well tuned and the lightweight of the car has helped the steering to be on the lighter side, thereby increasing the funquotient to drive. You need to throttle a bit more if you need more pick up on the highway but the car handles well. Suspension isstiffer and the car goes on rough-roads with ease. Maruti Suzuki expects more volumes from the petrol AMT variants.
The 1.3L diesel engine is borrowed from S-Cross and detuned to power 88Kw of power and 320Nm of torque. Like the S-cross theengine is a bit noisy.
Verdict:Overall, Maruti Suzuki Ignis is a very good package specially on the petrol variant. Even though, not an SUV, the car can be termedas mini Maruti Suzuki Vitara Brezza. Touchscreen infotainment system on the AMT variants is a huge miss. But all said and donethe third product from Nexa dealership will be a volume driver. The company has already received over 10,000 bookings of Igniswithin twenty days.
Maruti Suzuki Ignis price:Petrol: Rs 4.59-6.69 lakh (ex-Delhi)Diesel: Rs 6.39-7.46 lakh (ex-Delhi)
http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/maruti-suzuki-ignis-review/56663963
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Cars, SUVs, MUVs
Maruti Suzuki Ignis Review: Unconventional, funky but should you buy it? Arpit Mahendra
The want by consumers in India for more features in a vehicle with an affordable price tag has been ever increasing. Not only hasthis triggered a new wave of car models launching with a host of features that entice a prospect, it has also stirred up a healthycompetition amongst manufacturer. The Ignis from Maruti Suzuki is the latest example of how affordable price tag can have a hostof features. But, is it really value-for-money? Time to find out!
ExteriorsThe first thing one would notice is unconventional design language! The LED projector headlamps with a U-shaped LED DaytimeRunning Lamps will ask for a second glance. Mated to the black and chrome grille, the Suzuki logo, as well as the large frontbumper give the compact crossover a front fascia that hasn't been usually seen on a Maruti Suzuki car, the Baleno and Ciaz beingthe exceptions here. Move to the side and there the 15-inch alloy wheel, available on the Zeta and Alpha trims with 175/65 sectionrubber add to the quirky design of the vehicle. The strong shoulder line with a large glass area clearly states that this is noconventional hatchback, but a compact crossover which cannot be missed. The only odd looking part (for some) in the Ignis is thethree slats on the C-pillar.
The rear is where the company follows its simple design language, but with a dash of earthy design and the large tail lamps with thenumber plate housing, exude it. And it's not that the Ignis can be purchased in just a fixed set of exterior colours. The car can becustomised according to each buyer's taste and Maruti Suzuki would do it, at an additional cost. So, no voiding warranty and youalso give a unique character to your car.
InteriorsLike the exteriors, the inside also gets a 'funky' treatment! The top-end Alpha trim we tested has exterior colour-coded door handles
and centre console covers. Customers would also have the option of choosing if they want additional exterior colour covers on thespace above the glovebox. The dashboard is a dual tone and nice to touch, especially when one compares it to the segment Ignis isslotted it. It is safe to say that till date this is the best interior plastics I have seen. The toggle switches, automatic climate control,steering mounted audio and phone controls give the first row a cockpit feel, easy to operate as well as good to touch. The frontseats are supportive and have good side bolstering as well for average sized adults and there is ample legroom, knee room andshoulder room for four occupants. Five adults would be a bit of a squeeze in the third row, however, it can be done for short trips.
Unlike most cars, the 7-inch touchscreen infotainment unit is mounted like a tablet on the dashboard and not integrated into it. Thisis the same unit seen on the Baleno, however, in addition to the Navigation, Bluetooth and Apple CarPlay the Ignis' infotainment unitalso supports Android Auto. That said, the touchscreen is available only on the Alpha trim as a standard fitment and that may justnot tick one box with the young urban buyer who wants to stay connected even on the move. However, the lower Zeta and Deltavariants have a Bluetooth compatible audio system with steering mounted control. So, while you won't be able to mirror asmartphone's screen to this system, you will still be connected. The automatic climate control, like the touchscreen, is also restrictedto the top-end Alpha trim, however, the Zeta version's manual air conditioner cooled the cabin quickly. There are somecompromises to be made in the lower versions, however, if a buyer is looking at purchasing the automatic transmission or AMT(Automated Manual Transmission) for ease of driving, the Ignis Zeta would be the best purchase.
Engine and TransmissionThere is one applaud that must be given to Maruti Suzuki in this department. Customers looking out for an Ignis diesel automaticversion are in luck as the company offers an AMT unit on both motors. That is a no-compromise situation, similar to the youth of thecountry. Coming over to the engines, the Ignis comes with the same capacity engines like the Baleno, a 1.2 litre VVT petrol and a1.3 litre DDiS diesel. On paper, these engines produce 82 hp (petrol) and 74 hp (diesel) of power, however, in terms of practicality,the engines are tractable for everyday use and have a reasonable amount of grunt. The petrol engine has a linear power delivery,while the diesel has the typical 'boost' after 1,700 rpm as seen in the Swift and the Baleno. To put things in perspective, the petrolengine has a good balance, but runs out of steam post 5,000 rpm and a gear change is imminent, while the diesel is a better motorto drive on a daily basis.
Moving on to the transmissions, the manual gearbox on both the engines has a smooth gear change, but may feel 'buttery' for somespirited drivers as it has been tuned more towards smoothness over a crisp shift. Speaking of shifts, the AMT gearbox is the onealready seen in the Maruti Suzuki DZire and has been packaged neatly into the Ignis. There is the shift shock or jerk that one wouldfeel when the accelerator is floored in both engines. In the diesel, this abrupt shift is even more evident. But, to keep costs in check,the AMT was chosen over a conventional torque converter or a CVT. Overall, the powertrain is sprightly enough for the highway andcomfortable for the city.
Now, in a fuel-efficiency sensitive segment, the Ignis being light (maximum kerb weight of kg) has a claimed mileage figure of 20.68kmpl for the petrol and 26.9 kmpl for the diesel variants. In our short drive, the system indicated that for each litre of fuel, the petrolcovered approximately 14 km and the diesel crossed 17 km easily. Compared to the real-world scenario and when compared in itssegment, these numbers are reasonable and light on the owner's pocket.
Ride and HandlingIf there is one compromise that a car with a tall stance has to do with better ground clearance, it is the ride and handling bit. Thehandling is neutral and during our short test, the suspension setup was neutral. Over normal curves, there is a little body roll, butnothing is unsettling and on straight highways, the stability is impressive. There is ample feedback from the electric power steeringon the highway as well as the in the city. Since most of our driving included commuting through urban areas with a little high-speeduse, it is safe to say that the ride and handling is one of the better-tuned ones in its segment.
SafetyAnother plus to Maruti Suzuki for the Ignis is the safety front. All versions of the compact crossover are offered with ABS (Anti-lockBraking System), EBD (Electronic Brakeforce Distribution), dual front airbags and ISOFIX anchorage for child seats. Along with theunconventional design, the company has also assured safety for all passengers. In practical usage, shedding speed quickly whereinthe EBD works in tandem with the ABS to avoid locking up of the wheels, the Ignis does a good job of keeping its composure.However, due to the tall stance, the nose does dive down, but, the driver won't loose confidence.
The higher variants of the Ignis also get rear demister with wiper and so on. In total, the safety package offered on the compactcrossover is not just good, but a benchmark in its segment.
The Round-UpThe Ignis has been introduced by Maruti Suzuki as the 'First car of the young buyer'! It has a good set of motors and the option ofan automatic transmission on both engine options that offers a consumer the best of both worlds, convenience and features. Thatcoupled to the rather aggressive price tag (Rs 4.59 lakh to Rs 7.80 lakh, ex-showroom, Delhi) and a host of features as well asstandard safety equipment, the Ignis is a clear-cut winner in its segment. The only Achilles heel is the availability of an AMT in thetop-end Alpha version. However, similar to the Baleno wherein the CVT was not available in the top trim, the Ignis may also get anautomatic gearbox in the Alpha variant. Customers may not mind paying a little extra for the convenience of an automatic. Similarly,Maruti Suzuki could also offer the Ignis Zeta with a touchscreen unit as standard to appeal more buyers.
Who should buy the Ignis? It isn't restricted only to the young buyer, but anyone who is looking at a practical, feature-rich compactcar that has reasonable road presence.Maruti Suzuki Ignis variant-wise pricing:
Petrol:Maruti Suzuki Ignis Sigma Petrol MT: Rs 4.59 lakhMaruti Suzuki Ignis Delta Petrol MT: Rs 5.19 lakhMaruti Suzuki Ignis Delta Petrol AMT: Rs 5.74 lakhMaruti Suzuki Ignis Zeta Petrol MT: Rs 5.75 lakhMaruti Suzuki Zeta Petrol AMT: Rs 6.30 lakhMaruti Suzuki Ignis Alpha Petrol MT: Rs 6.69 lakhThe Financial Express
Diesel:Maruti Suzuki Ignis Delta Diesel MT: Rs 6.39 lakhMaruti Suzuki Ignis Delta Diesel AMT: Rs 6.94 lakhMaruti Suzuki Ignis Zeta Diesel MT: Rs 6.91 lakhMaruti Suzuki Ignis Zeta Diesel AMT: Rs 7.46 lakhMaruti Suzuki Ignis Alpha Diesel MT: Rs 7.80 lakhAll prices are introductory ex-showroom, Delhi.http://www.financialexpress.com/auto/reviews/maruti-suzuki-ignis-review-unconventional-funky-but-should-you-buy-it/514089/
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Small car sales tepid, but big vehicles add momentum to Toyota's India ride Ketan ThakkarThe Economic Times (Delhi Print Edition)
Mumbai: Japanese auto major Toyota's India subsidiary may have a modest market share in the small car segment, but its strongperformance in the big utility vehicle space is helping the company strengthen local operations.
The iconic Innova MPV alone is estimated to have contributed over $2.4 billion to Toyota's turnover in 2016, which is the highest byany brand in the Indian passenger vehicle space for a company. Its other big SUV , Fortuner brought in $500 million last year. BothInnova and Fortuner sold a total of over 81,000 units in 2016.
The only other models that have ge nerated over a billion dollar in turnover for their respective companies are Hyundai Creta,Honda City , Mahindra XUV and Scorpio, Maruti Suzuki Ciaz and Vitara Brezza in the mainstream car market.
What is interesting is, despite being launched just a day ahead of the announcement of demonetisation, the new Fortuner hasalready secured bookings of over 10,000 units.The company has already delivered around 4,000 units, while 6,000 customers areawaiting its delivery.
Akito Tachibana, MD of Toyota Kirloskar, in a recent interview to ET mentioned that the company is not in the volumes game, itwould rather focus on value and profitability and in the process offer a safe, reliable and quality transport solution.
According to an analysis done by ET, Toyota was the market leader till 2015 in the above-` `10 lakh segment, before Hyundaiovertook it with the launch of Creta in 2016. The market size of the above-` `10 lakh segment stood at 3.18 lakh units in 2016, withToyota cornering almost a quarter of that market share.
N Raja, senior vice-president, marketing and sales at Toyota Kirloskar, said, “Considering the price segment, sales of 60,000units in just eight months is a big milestone for both Fortuner and Innova.Against the backdrop of diesel ban and demonetisation,we are targeting to achieve similar volumes of 2016. However, we may alter the same depending on the demand situation,“he added.
Such is the cult value of Innova that about 47% of the buyers in 2016 were already its owners, majority of whom had traded theolder version for the newer model. The company is currently sitting on an order book . 4,300 croposition of `4,000 crore to ` re forboth Innova and Fortuner.
With strong Innova and Fortuner number, Toyota Kirloskar is gunning for a turnover of over $3 billion or Rs.19,500 crore toRs.20,000 crore in FY17.
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Car Review - Maruti Ignis - Individualistic, Idiosyncratic, Irrestible Vikram ChaudharyThe Financial Express
There’s a method to Maruti’s madness. With the Ignis, the company has not cut corners, and has created a premiumurban compact vehicle for the millennials. It combines unconventional design, seamless smartphone experience, is loaded withtechnology, sets new safety standards, and gets numerous personalisation options. We drive this attractive car on the equallyscenic East Coast Road near Chennai.
Exterior: Free-spiritedThe company says the exterior of the Ignis is inspired by the inherent desire of the millennials to be distinct. The design reflects thesame. The car has a confident stance with expressive wheel arches, black alloy wheels (in the top-end variants), and wheels placedat extreme corners. The front is a single-frame grille with inset headlamps and LED DRLs, and chrome has been used on the frontgrille, headlamps and fog lamps. Dual-tone exterior colour options are trendy.
Interiors: RefreshingThe cabin is unlike any of the Maruti vehicles. The floating-layered dashboard design, in black and ivory, and the cockpit-styledconsole panel set its cabin apart. Another first is the EDM-inspired illumination in the speedometer. (EDM is short for electronicdance music, a broad range of percussive electronic music genres made largely for nightclubs, raves and festivals.)The car looks small, yet there is ample space in the cabin, especially the front legroom and headroom. The front seats are very
supportive and long-distance drives should be fun and easy in this car. The rear, however, is cramped; moreover, the rear seat hasvery little thigh support. Clearly, this is a car for the millennials who love to drive. Boot space is good (265 litres), and it can beexpanded with a 60:40 rear seat split.
Technology: LoadedIn the top-end variants, the look, feel and positioning of the infotainment system, akin to a tablet plugged to the car, add a lot of styleto the cabin. The infotainment system offers smartphone connectivity experience with Android Auto, Apple CarPlay and Mirror Link,the three technologies millennials use a lot. In fact, the Ignis is the first car in the Maruti Suzuki portfolio to offer Android Auto.
Drive: EfficientThere are two engine options: 1.2-litre VVT petrol delivering maximum power of 61kW@6000rpm and torque of 113Nm@4200rpm;and 1.3-litre DDiS 190 diesel delivering maximum power of 55.2kW@4000rpm and torque of 190Nm@2000rpm. The petrol has aclaimed fuel-efficiency of 20.89kpl, while the diesel returns 26.80kpl.
The cabin of the petrol model is surprisingly quiet. The company says the use of pendulum engine mount system, and the use ofacoustic insulation and absorption materials around the cabin and engine compartment have ensured low NVH levels. The dieselhas its distinctive noise, some of which seeps inside the cabin. The Auto Gear Shift (AGS) technology is available on both petroland diesel trims.The view from the driver’s seat is excellent; a high eye point helps the driver in easy manoeuvrability, bothwithin the city and on the highways.
Safety: AmpleThe Ignis comes equipped with dual airbags, seatbelts with pre-tensioner force limiter and ABS with EBD as standard fitments. Italso gets ISOFIX Anchorage, a child seat restraint system, as standard in all variants.
Personalisation: FunThere are unique personalisation options, with concepts like roof wraps, colour options in ORVMs, spoilers, wheel cladding, rearand side skid plates, fog lamp garnish, interior styling and more, which are available at an extra cost.
Verdict: IndividualisticThe price of the petrol starts at Rs 4.59 lakh, going up to Rs 6.69 lakh. The price of the diesel starts at Rs 6.39 lakh, going up to Rs7.8 lakh. The prices for petrol AGS are Rs 5.74-6.30 lakh, while for diesel AGS are Rs 6.94-7.46 lakh. The Ignis, clearly, is apremium urban compact vehicle for the millennials. It should not be used a chauffeur-driven car, buy it only if you love driving.
(Some of the technologies and features mentioned in this review are only available in the top-end Alpha variant.)http://www.financialexpress.com/industry/maruti-suzuki-car-review-its-mini-cooper-meets-fiat-500-irresistible/514747/
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Toyota Innova is highest turnover grosser for any brand in Indian PV market Ketan ThakkarThe Economic Times
Mumbai: Japanese auto major Toyota's India subsidiary may have a modest market share in the small car segment, but its strongperformance in the big utility vehicle space is helping the company strengthen local operations.
The iconic Innova MPV alone is estimated to have contributed over $2.4 billion to Toyota’s turnover in 2016, which is thehighest by any brand in the Indian passenger vehicle space for a company. Its other big SUV, Fortuner brought in $500 million lastyear. Both Innova and Fortuner sold a total of over 81,000 units in 2016.
The only other models that have generated over a billion dollar in turnover for their respective companies are Hyundai Creta, HondaCity and Mahindra XUV and Scorpio, Maruti Suzuki Ciaz and Vitara Brezza in the mainstream car market.
What is interesting is, despite being launched just a day ahead of the announcement of demonetisation, the new Fortuner hasalready secured bookings of over 10,000 units. The company has already delivered around 4,000 units, while 6,000 customers areawaiting its delivery.
Akito Tachibana, MD of Toyota Kirloskar, in a recent interview to ETAuto mentioned that the company is not in the volumes game, itwould rather focus on value and profitability and in the process offer a safe, reliable and quality transport solution.
According to an analysis done by ETAuto, Toyota was the market leader till 2015 in the above Rs 10 lakh segment, before Hyundaiovertook it with the launch of Creta in 2016. The market size of the above Rs 10 lakh segment stood at 3.18 lakh units in 2016, withToyota cornering almost a quarter of that market share.
N Raja, senior vice-president, marketing and sales at Toyota Kirloskar, said, "Considering the price segment, sales of 60,000 unitsin just eight months is a big milestone for both Fortuner and Innova. Against the backdrop of diesel ban and demonetisation, we aretargeting to achieve similar volumes of 2016. However, we may alter the same depending on the demand situation,” headded.
Such is the cult value of Innova that about 47% of the buyers in 2016 were already its owners, majority of whom had traded theolder version for the newer model. The company is currently sitting on an order book position of Rs 4,000 crore to Rs 4,300 crore forboth Innova and Fortuner.
Despite a revenue loss in FY16 due to diesel ban, Toyota managed to register its second-highest profit in the last fiscal year at Rs504 crore. And this profit was achieved with a capacity utilisation of just 40-50%. With strong Innova and Fortuner number, Toyota
Kirloskar is gunning for a turnover of over $3 billion or Rs 19,500 crore to Rs 20,000 crore in FY17.
V G Ramakrishanan, MD at consultancy firm Avanteum Advisors, said, “Toyota has built its leadership position in thissegment over the years and turned Innova into a top brand, synonymous with family vehicles in India, a feat matched only by itsJapanese counterpart Maruti Suzuki.”
"Being the customers’ top choice for years the model has been a significant contributor to Toyota from an organisationalperspective," Ramakrishanan added.
http://auto.economictimes.indiatimes.com/news/passenger-vehicle/uv/toyota-innova-is-highest-turnover-grosser-for-any-brand-in-indian-pv-market/56672238
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Maruti Suzuki flags off its last leg of Rally Championship The Economic Times
Panchkula: Maruti Suzuki has flagged off the sixth and last leg of the National Super League TSD Rally Championship fromPanchkula on Thursday.
The rally will witness 70 participants from across the country including the TSD veterans like Karthik Maruti and Jagmeet Gill. Theparticipants will race across a total distance of 600 kms. The rally will travel through Himachal Pradesh and conclude in Mashobrahills on January 22, 2017.
Vinay Pant, Asst. Vice President, Marketing, Maruti Suzuki said, “With this championship, we have been successful inreaching out to amateur motorsports enthusiasts and provided them a platform wherein they can pursue their passion andsimultaneously train themselves for larger cross country rallies."
"Through the Maruti Suzuki NSTSD championship we have taken the Maruti Suzuki motorsports across the country from all the wayfrom Kerala to far north east in Arunachal Pradesh. All 6 legs of the championship have received a phenomenal response and weare immensely delighted with the growing participation in each rally.”
Rally of Himachal is the sixth and final round of NSTSD championship with the last 5 legs being Uttarakhand Rally, Deccan Rally,Backwaters Rally, Mughal Rally and Rally of Arunachal.http://auto.economictimes.indiatimes.com/news/industry/maruti-suzuki-flags-off-its-last-leg-of-rally-championship/56671249
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Maruti Suzuki Ignis bookings cross 10,000 units Ronak ShahThe Economic Times
Chennai: Maruti Suzuki Ignis has crossed 10,000 units within twenty days, claims the automaker. RS Kalsi, Executive Director,Maruti Suzuki India told ETAuto, “So far we have got over 10,000 bookings and the response has been phenomenal and isbetter than our most optimistic estimates”.
The car was launched on January 13 and the company commenced online bookings for the same from January 1. On the launchitself, the company said that Ignis has already received 6000 bookings.
Also read: Maruti Suzuki review
The waiting period on Maruti Suzuki Ignis has gone up to 2-3 months. Maruti Suzuki Ignis is priced between Rs 4.59-7.46 lakh (exshowroom Delhi). and might also eat up share of the company’s other products like Swift, Ritz and may be even Dzire as itoffers more features.
Kalsi added, "I don’t deny that there might be a slight cannibalisation of our existing models but at the same time the basicconcepts on which the Ignis has been designed will create its own segment. Maruti is known for creating new segments.”
Maruti Suzuki Ignis will be manufactured at the company’s plant in Gurgaon.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/maruti-suzuki-ignis-bookings-cross-10000-units/56664248
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Funky, youthful new addition to Maruti's family of hatches S MuralidharThe Hindu Business Line (Delhi Print Edition)
It takes some doing to be at the top of the heap in the fifth largest automobile market of the world with a claim over nearly half thepassenger car market. Maruti Suzuki's continued domination is partly due to the depth and variety of choice that is available in itsportfolio. And much of that choice continues to be centred around small cars, the largest segment of the passenger car market.Like a consumer products company, Maruti Suzuki already has a range of small cars whose prices are set so close to each otherthat it confuses some buyers. But a wide choice never fails to draw new buyers into the fold. Joining that crowded portfolio of cars in
the ₹3 lakh to ₹7 lakh price range is the new Ignis.
The Ignis is a global car from Suzuki built on a brand new modular platform. Evident even from the first glance, what is undeniableis the new car’s unique character that really sets it apart from all the others in Maruti’s stable. But make no mistake;this is a small car from every angle.
DesignDespite any claims about its SUV-like nature, the Ignis is only a small hatch with a tall-boy design. Yes, its stance is unique, sportyand practical.
Two features contribute to the crossover-like design and the larger-than-it-actually-is looks of the Ignis. The single frame grille andthe over-sized wheel arches with extra cladding and wheels that look like they have literally stepped out of the side of the car. Thethick C-pillar design with the curved tail-gate and stalked door mirrors also add that bit of crossover style to the Ignis. The front isthe most expressive with the single frame grille outlined in chrome really elevating the first impression. Expressive LED headlampswith LED daytime running lights (DRLs) are enough to give this small car’s design a perch at the top. A blacked-out A-pillarand a lightly curved roofline that is almost parallel to the road captures the Ignis’ tall-boy design, even though the side profileof the car is not the most flattering.
The rear of the Ignis is the most quirky part of its design. The thick C-pillar with the triangular section of the panel queers the designa bit. The shoulder line rises rapidly past the quarter glass and the panel also features the signature Suzuki Progressive Triad mark.From a distance, the tail-gate seems like a two-piece unit with the rear glass seemingly sporting its own hinge, but it is actually asingle combined unit.
CabinThe funky, youthful design of the exterior gets carried into the cabin of the Ignis. Maruti Suzuki has gone to town with theIgnis’ millennials focus so much that the only recognisable trim in the car’s cabin is the familiar 3-spoke steeringwheel. The rest of the cabin gets a unique new treatment that has been missing in previous Maruti cars. The dashboard is a lean,horizontal singular unit with multiple layers, giving it the floating dash concept. The dash also gets a dual tone – black andivory – theme. The most dominant bits in the cabin are the steering wheel and the tablet-like infotainment system screen.
Depending on the trim variant, there are funky inserts and elements like the door grab handle in body paint colour, the carbon-fibretexture on aircon louvers and chrome surrounds to some of the knobs and handles. The centre console in the top trim also gets thebody colour finish and also carries forward the Triad design from the rear panel into the cabin. Top trim also gets push button start,phone connectivity through Apple CarPlay, Android Auto and Mirror Link, and a multi-function steering wheel. Despite the funky bits,the dashboard is still fairly Spartan overall. There is also a lot of plastic all around, though the impact is lessened by the fact that thequality and finish of materials used is better than Maruti’s older generation models. Seat squabs are soft and though theymay be comfy during the commute in the city, it may get a bit tiring during long rides.The space available in the cabin is better than in the Celerio and Wagon-R, but only by a small margin. The Ignis’ track iswider than the shoulder room in the cabin, due to its spread out stance. The tightly packed engine in the bonnet and the wheel atthe extremes still allows the Ignis to offer a decent amount of legroom even for the rear passengers. Otherwise, it is dimensionallyonly marginally bigger than the Wagon-R. Boot space in the Ignis is about 260 litres with the parcel tray in place.
PerformanceThe Ignis is offered with the same petrol and diesel engines that are currently on offer in the Suzuki Swift and some of the othermodels. So, it is the same 1.2-litre K12 petrol engine and the same 1.3-litre DDiS 190 diesel engine. There are some minorvariations to the state of tune. The petrol engine generates 61kW of peak power and 113Nm of peak torque. The engine feels muchpeppier in the Ignis than in other cars thanks largely to the lower kerb weight of this new model. Linear acceleration is excellent andthe amount of low-end torque available should enable fairly comfortable slow speed driving in the city too.
The tried and tested DDiS 190 diesel engine offers 55.2kW of peak power and 190Nm of peak torque from a low 2,000rpm. Againthere is a lot of low-end torque to work with right past 1,500rpm. The diesel is a tad bit noisier in the cabin, but in both powertrainversions, the NVH levels are really low. But, the diesel somehow feels more restrained than the petrol in the Ignis. Both the enginesare offered with both a manual and an automated gear shift (AGS) transmission option. Gear shifts are smooth and clean in themanual and though there is mild shift shock based on demand in the AGS, it is not too distracting. This is the first instance of Marutiusing AGS in the K12 engine.
The suspension is very similar to the Baleno’s in terms of on-road feel and the steering is better than the over-light unit in theCelerio, though the Ignis is still not the most ideal. There are some more tech bits like intelligent battery management and low-rollingresistance tyres. But the most impressive addition to the Ignis is the call to make safety features like dual airbags, ABS andpedestrian protection standard fitment across variants.
BottomlineStarting off slowly with the Baleno, Maruti Suzuki has gone on to usurp and literally own the whole customisation/ personalisationtrend in the affordable cars category. The Vitara Brezza that came last year and the new Ignis now are also perfectly suited tobenefit from this trend. The contrast roof, the sporty decals, the coloured alloys and the myriad variations for the cabin trim havealtered the landscape of the premium small car and the Ignis looks set to extend the gains for Maruti. Inherently, Indian buyers seekindividuality even more than buyers in other markets and so, the Ignis could ignite the trend all over again. But, I would like to seean improvement in the quality of customisable accessories on offer.
Maruti Suzuki has also decided to offer the Ignis at a competitive (albeit introductory) price range of ₹4.59 lakh to ₹7.8 lakh. Nowthat is a bargain considering the safety tech that comes as part of the package. Whether the Millennials are swayed into buying it orat least influencing the purchase decision is something that time will tell.
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60% bookings for Tata Hexa is for automatic variants Sharmistha MukherjeeThe Economic Times
New Delhi: The country's largest automaker Tata Motors which launched sports utility vehicle Hexa on Wednesday said it haswaiting of up to two months on the vehicle.
Vivek Srivastava, senior general manager (marketing), passenger vehicle business unit, Tata Motors said 60% of the bookings arefor the automatic transmission versions.
The Hexa is priced between Rs 11.99 lakh and Rs 17.49 lakh (ex-showroom, Delhi). The Hexa is the first of many launches, TataMotors said, to revive its share in the utility vehicle segment.http://economictimes.indiatimes.com/industry/auto/news/passenger-vehicle/cars/60-bookings-for-tata-hexa-is-for-automatic-variants/articleshow/56650805.cms
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Hey, youre just too funky for me The Pioneer (Web & Print Edition)
Kushan Mitra: It appears Maruti has finally figured out how to make a car stand out in a mass of small cars
The next line of this famous George Michael song goes, I gotta get inside you. And while I’m pretty sure that the singingGreek, as he referred to himself did not not mean a car (or a woman apparently) the headline just suits this car. This is a funky car,design elements inside and outside are all about making this car stand out from the teeming crowd of small cars in India, most ofthem Maruti’s. It is a car that you want to get inside thanks to its outside.
Maruti management went to great lengths to convince us that they’ve designed this car for millennials. Now, let me get onething straight, I’m not a millennial. And in case you didn’t know who millennials are, they are the younger audienceand depending on who you ask, the age group ranges between 20 and 35. But for car buying purposes, these are younger first-timecar buyers between the ages of 25 and 35. But as one of my marketing maven friends explained to me, ‘millennials’are actually a convenient to categorise buyers you really can’t categorise too well.
But we do know certain things about younger car buyers, sure many of them aspire towards owning a German luxury brand, butthey want all the toys. And, they do want their cars and bikes to stand out. And Maruti seems to have realised this, you wouldexpect India’s biggest car company to be a bit fuddy-duddy and slow off the mark, but Maruti was the first carmaker to getApple CarPlay into India. And with this car they have made the small car cool again.
Again, let me get one thing out of the way, the Ignis is no ‘performance’ car. Sure, like most Suzuki small cars sincethe ‘new’ Swift came out in 2004, it handles and rides very well. The steering is sharp and ride fairly smooth; this carticks all the boxes. It has the standard 1.2MPI petrol engine tuned to 82 horsepower and the 1.3DDiS diesel engine tuned to 74horsepower; the same engine options as the Swift.
It comes with an optional Automated Manual Transmission, or ‘Auto Gear Shift’ (AGS) as Maruti calls it. Driving boththe petrol and diesel AGS, you can see that Maruti has worked on improving this technology ever since they brought it in with theCelerio. The Ignis is the first hatchback in the Maruti family that has the AGS, although Maruti had mated the DDiS to an AGStransmission on the Dzire earlier. On the petrol variant you can’t make out gear changes at city speeds, sure there is apalpable shift shock when you want to go fast and really mash the accelerator. But treat the accelerator gently, and the Ignis issurprisingly smooth and efficient. On the diesel AGS, things are not that smooth, there is a bit of jerkiness during shifts but still, theIgnis diesel AMT is a very good implementation of the gearbox.
So that is the mechanical and performance part of the Ignis done because this car is all about the design and features. Just look atthe outside, the first thing you notice when you see the car is the headlights popping out of the grille and on the top-end Alphavariant you get the headlights integrated with daytime running LED lights, a first at this price range. The clamshell insert on thebonnet’s side is inspired by the Vitara SUV and the high tall-boy sort of stance of the Ignis does give a sort of SUV feel.
The most noticeable features however involve the rear C-pillar. The first is the 45-degree kinks on the roof, most hatchbacks endabruptly, this kink which really doesn’t compromise rear headroom does give this car a rather unique ending. Coupled withthe sharply raked window line, which does in my opinion reduce glass area a bit in the car, the rear does stand out on the Ignis. Butif it disn’t stand out already, there are the three stripes stamped onto the pillar. The three stripes aren’t as some ofyou will suspect inspired by a German sportswear company but from the Suzuki Fronte coupe, a Guigiaro designed car from the1960’s. There is one thing about the outside that I’m not terribly fond off, and that involves the rear end as well, thesides of the car taper a bit towards the end, thus the wheel arches flare out a fair bit. It really gives the Ignis the impression ofhaving a large butt. Specifically a small waist and a large butt. I’m just saying. And well, the taillights could have carried thefunky theme as well with LED clusters, but for now they just look ordinary.
But then the insides, the cars have coloured accents for the front door handles and the central console and the rear-window kink (onthe higher variants) with the Tinsel Blue and Uptown Red colours (I don’t think up colour names, and yes, they’reweird) coming with body-coloured options, other colour choices come with silver inserts. But everything else is cool too. The Blackand Ivory dual-tone finish, the design of the air-conditioning vents, the switches for the a/c controls on the top-end Alpha variant andthe way the infotainment system juts out like a tablet.
On the top-end Alpha variant, the touchscreen system, which is the same as on the Ciaz, S-Cross, Baleno and Vitara Brezza, looksdifferent here because of the way it has been placed. And the Ignis is the first variant which comes with the option for Android Auto,
Google’s plug-and-play option for Android devices. Unlike Apple CarPlay in India, the Android Auto variant licensed byMaruti includes Google Maps navigation support (over and above the in-built navigation in Maruti’s system) with live mapsdata (if your Android smartphone is running on a data network).
Maruti, which will sell the Ignis using the Nexa network of showrooms also offers customisation options, starting with roof wraps ingeometric designs, which might seem weird, but Maruti management feel that millennials like customisation. The Ignis has beenpriced starting from Rs 4.59 lakh for the base Sigma variant petrol to Rs 7.80 lakh for the Alpha variant diesel. The Alphas variantpetrol engined option which will probably sell the most costs Rs 6.69 lakh. Both petrol and diesel AGS options come in the middleDelta and Zeta specification levels (lacking the colour touchscreen sadly). The Ignis is very well priced, although Maruti will have totake some interesting pricing decisions when the third-generation Swift comes later this year.
As for ‘None of a Kind’ Maruti’s tagline for the Ignis, I’m not so sure. As for the car, I’m prettysure it will attract the buyers Maruti wants but also their parents. After all, funky is just a state of mind.http://www.dailypioneer.com/columnists/automobile/hey-youre-just-too-funky-for-me.html
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Maruti Suzuki Ignis bookings cross 10,000 units Ronak ShahThe Economic Times
Chennai: Maruti Suzuki Ignis has crossed 10,000 units within twenty days, claims the automaker. RS Kalsi, Executive Director,Maruti Suzuki India told ETAuto, “So far we have got over 10,000 bookings and the response has been phenomenal and isbetter than our most optimistic estimates”.
The car was launched on January 13 and the company commenced online bookings for the same from January 1. On the launchitself, the company said that Ignis has already received 6000 bookings.
The waiting period on Maruti Suzuki Ignis has gone up to 2-3 months. Maruti Suzuki Ignis is priced between Rs 4.59-7.46 lakh (exshowroom Delhi). and might also eat up share of the company’s other products like Swift, Ritz and may be even Dzire as itoffers more features.
Kalsi added, "I don’t deny that there might be a slight cannibalisation of our existing models but at the same time the basicconcepts on which the Ignis has been designed will create its own segment. Maruti is known for creating new segments.”
Maruti Suzuki Ignis will be manufactured at the company’s plant in Gurgaon.
http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/maruti-suzuki-ignis-bookings-cross-10000-units/56664248
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Ford EcoSport Platinum Edition launched for Rs 10.39 lakh (ex Delhi) The Economic Times
New Delhi: Indian arm of American automaker Ford has launched the Platinum Edition of its compact SUV EcoSport for Rs 10.39lakh (petrol variant) and Rs 10.69 lakh (diesel variant) (all prices ex showroom Delhi).
The Ford EcoSport Platinum Edition will be sold with a choice of two powertrains - Ford 1.5L TDCi diesel engine as well as Ford 1.0lEcoBoost petrol engine.
Its petrol engine churns out 125 PS of power and fuel efficiency of 18.88 km/l, and the diesel one delivers peak power of 100 PS(73.8 kW) and fuel economy of 22.27 km/l, claims the carmaker.
Ford EcoSport Platinum Edition introduces dual tone exterior design, featuring a black roof, bigger 17-inch wheels, wider tyres withbrand new alloys as well new rear and front bumper appliques.
Inside, the EcoSport Platinum Edition features an 8-inch touchscreen infotainment system that allows users to control severalfeatures, including music and video playback. The new infotainment system features Satellite Navigation system as well as a rearview camera.
The vehicle introduces Cruise Control which allows drivers to set a fixed speed at which the vehicle automatically cruises withoutthe need to keep the accelerator pressed during long drives.
http://auto.economictimes.indiatimes.com/news/passenger-vehicle/uv/ford-ecosport-platinum-edition-launched-for-rs-10-39-lakh-ex-delhi/56662483
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Tata Motors design head says every car must have good look Umesh M AvvannavarDeccan Herald (Web Edition)
Bengaluru: After tasting success with the Tiago’s looks, the country’s largest automobile company Tata Motors
believes that irrespective of price, every car should have good look.
In an interaction with DH, Tata Motors Head of Design, Pratap Bose, said, “For the Tiago project, we were clear that we willcome out with an outstanding looking car. Till date, we have got bookings of over 60,000 for my first project (Tiago) as Head ofDesign. We are seeing that aesthetics is one of the biggest purchasing factor in India today.”
Elaborating the hard work behind the success of Tiago, Bose said, “Tata Motors has three global design centres in the UK,Italy and India with over 200 engineers. Pune is our biggest facility. To be a global carmaker, you need inputs from best practices.Turin is a heart of car design centre in Italy, and Coventry is a heart of car engineering centre in the UK. Therefore, we get theability to tap into a network of experience and expertise.” On Thursday, Tata Motors launched its SUV Hexa, with a pricestarting at Rs 12.25 lakh (ex-showroom B’luru), for the manual transmission variant, and Rs 15.16 lakh for the automaticvariant.
“Fiver years ago, the team size was only 40 people. Owing to market demand, we are widening our range. We haveexpanded our studios as well. We have invested heavily in terms of people, infrastructure and capability. This gives us three globalstudios which is unique for an Indian OEM,” Bose added.
In terms of the duration needed to execute a project, Bose said, “Right from a sheet of paper to a sheet of metal, it will take48 months. First 18-24 months, it is pure design process and then manufacturing, testing, validation.”
“Hexa is the new segment which was a challenging and exciting project. We had to do it quickly to respond to the growth inthe market. Our engineers told us that the Hexa has an outstanding engine, but we had to make it look strong, and not aggressive.If you look at Hexa, SUV looks stronger but doesn’t look aggressive.”http://www.deccanherald.com/content/592292/tata-motors-design-head-says.html
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A long drive to the city Jigyasu JoshiThe Pioneer (Web & Print Edition)
The Jaipur Literature Festival is witnessing a slew of women as chauffeurs bringing a new vibrancy to the ongoing literary hub.Jigyasu Joshi reports
One would imagine them to be feminine chauffeurs. But they are all tough ladies hardened by struggle and poverty. Yet, when yousee them behind the wheels manoeuvring the unruly cacophonic traffic on Jaipur’s unsympathetic and noisy roads madeeven more dangerous with potholes and backbreaking speed breakers, you spot nothing but a smile.
In 2009, it was just a distant dream for Chand when she decided to become a chauffeur. Now few years down the line, she hasbeaten all odds to become a professional cab driver. “It was not difficult to convince my family. The difficult part was toconvince the society. They said things like this is men’s job and it’s not safe to drive and all. But I was determined todo what I wanted to do,” says Chand.
She is not just a professional driver but also the first lady trainer at the Maruti’s driving school. For Chand, holding thesteering wheel is akin to empowerment.
This, precisely, is the primary goal of Azad Foundation. The NGO makes self-sufficient professionals out of young women. Their jobis to prepare and empower young women so that they can live with dignity and independence.
Later, Chand found out about the NGO and began training under it. She now works as a professional chauffeur with SakhaConsulting Wings, a placement agency that provides employment to women drivers.
“I lost my husband in 2009 in a road accident. I was terrified of driving then but I had to take care of my family, my kids. So Icame over with my fear and decided to hold the steering wheel,” says proud Chand.
Chand is not alone. In fact, hundreds of women have trained with the NGO under their programme ‘Women onWheels’.
Sakshi, who also works as a private chauffeur and her journey wasn't a bed of roses either. She was a victim of women abuse andwas left to survive alone. Soon she took hold of her life and decided to learning driving and earn a living through that.
“When I started training, a lot of people ridiculed and harassed me, saying I could never be a driver. They even harassedme,” Sakshi says.
When asked if she is noticing any positive changes in herself after joining the NGO, she says, “Earlier, I was shy. Now I cantalk to people. I go out and visit places. Being a driver gives a different sense of pride.”
The Azad Foundation started the ‘Women on Wheels’ programme in 2008 for helping the women in India to live withpride. The NGO has trained as many as 700 women so far, out of whom more than 400 are working as professional drivers acrossthe nation.
The director of the NGO, Meenu Vadera was in conversation with publisher Urvashi Butalia at the Jaipur Literature Festival todiscuss and bring fore the stories of such survivors.http://www.dailypioneer.com/vivacity/a-long-drive-to-the-city.html
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Bajaj Auto launches 2 new Variants of KTM Bikes The Hindu Business Line
Pune: Bajaj Auto, which owns 49% in the Austrian sport bikes brand KTM and has marketing and production rights for the samehere, on Thursday, rolled out the new variants of the KTM RC range comprising the RC 390 and the RC 200 with additionalfeatures, and said it will add 125 more exclusive outlets next financial year. While the all-new RC 390 is priced at Rs.2.25 lakh, upby Rs.14,000 over the existing model, the RC 200 comes with a price tag of Rs.1.71lakh, up from Rs.1.59 lakh earlier, ex-showroomDelhi.
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UM Motorcycles opens its first dealership in Guwahati The Economic Times
New Delhi: Indian arm of the American motorcycle maker UM International has made its entry in North East India as it inauguratedits dealership in Guwahati. The first dealership of North East India shall include an area for interacting with customers, and an areato provide the best after sales service and support.
The company further shared that the recently announced 24x7 Roadside Assistance Programme (RSA) will also be available for allcustomers in Guwahati with immediate effect.
Rajeev Mishra, CEO – UM Lohia Two Wheelers, said, “The North-Eastern market contributes to as much as 35% ofthe total two-wheeler segment in India, hence it was imperative that we expand our footprint in this region. Guwahati is the firstdealership, we have inaugurated in North East India and we plan to have a presence in each of the seven sister states as well. Thisdealership will house our flagship products Renegade Commando and Renegade Sports S.”
Kishor Jain, Director, LUIT UM said, “Guwahati has a rich motorcycling culture and after riding the Renegade Commandoand the Renegade Sports S, I am sure that all bikers who prefer cruisers will opt for our products without a single thought. Ourinvestment in the showroom and workshop as already been rewarded by confirming orders which we have received prior to theinauguration.
The Renegade Commando is a low-slung cruiser powered by a high-powered 280 cc engine with 25 BHP at 8,500 rpm and 21.8Nm of torque at 7,000 rpm, mated to a six-speed transmission. This lightweight machine has a 200 mm ground clearance and aninbuilt USB charging point.
The bike comes with wide handlebars and hydraulic telescopic front suspension and spring rear suspension. The RenegadeCommando will be available at Rs 1.74 lakh (ex showroom, Guwahati).
The Renegade Sports S model also shares the same engine as the Renegade Commando. The Renegade Commando and itssibling Renegade Sports S come with an electric start. An innovative feature called Service Alert Maintenance comes as a standardfitment in both Renegade Commando and Renegade Sports S. The LED Lights come as a standard in Sports S version.
The front wheel has telescopic suspension while the rear wheel has dual shock absorbers. These motorcycles have a fuel tank of18 liters with a kerb weight of 172 Kg. The Renegade Sports S is available at Rs 1.68 lakh (ex showroom, Guwahati).http://auto.economictimes.indiatimes.com/news/aftermarket/um-motorcycles-opens-its-first-dealership-in-guwahati/56672025
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New KTM RC 200, RC 390 launched starting from Rs 1.71 lakh (ex Delhi) The Economic Times
New Delhi: Indian arm of Austrian motorcycle manufacturer KTM has launched its 2017 models of KTM RC 200 for Rs 1.71 lakh
and KTM RC 390 for Rs 2.25 lakh (all prices ex showroom Delhi).
Both the motorcycles feature 1-cylinder, 4-stroke engine with twin overhead camshafts, four valves and electronic fuel injection. Theengine has an electric starter powered by a 12V/8Ah battery and it achieves its peak power of 19 kW (25 hp).
The only difference in the two bikes is 2017 KTM RC 200 has a displacement of 199.5cc, while the 2017 KTM RC 390 of 373.2cc.
Visually similar to the lightweight and approved Duke steel trellis frame, the orange painted frame has been modified to better fit thesupersport ergonomics and dynamics. The increase of the steering head angle to 66,5 degrees resulted in a shorter trail, shorterwheelbase and increasing ground clearance.
The 100% digital LCD display engaged gear, fuel gauge and service reminder information. Just like supersport racing machines anRPM alert indicates when is the best moment for shifting up.
The two-part seat offers first class supersport ergonomics with perfect support for rider and pillion. With a seat height of 820mm, itenables the rider to have a secure stance while also being high enough for sporty use and real big-bike feeling, claims thecompany.http://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/new-ktm-rc-200-rc-390-launched-starting-from-rs-1-71-lakh-ex-delhi/56662952
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New Ducati Diavel Diesel bike guarantees to give an adrenaline rush The Economic Times
New Delhi: Italian motorcycle manufacturer Ducati Motor Holding has unveiled Diavel Diesel. With just 666 numbered motorcycles,the Ducati Diavel Diesel is the result of a collaboration between Andrea Rosso, the Creative Director of Diesel Licenses, and theDucati Design Center. The inspiration for their work is an imaginary post-apocalyptic and retro-futuristic world with a hyperkineticvitality.
Andrea Rosso, Creative Director of Diesel Licenses said, “It's an important motorcycle that reflects the hard rock side ofDiesel's DNA. 'Never Look Back' engraved with the two logos illustrates the meaning of this partnership: a timeless motorcycledistinguished by many unique elements like brushed steel and visible welds and rivets. Ducati Diavel and Diesel, three words withsix letters that form a perfect number, 666, the number of motorcycles in the world made by this new partnership.”
Claudio Domenicali, Ducati Motor Holding CEO said, “The collaboration with Diesel enabled us to explore original stylisticand technical aspects whilst staying within the Ducati brand and fully respecting its values. In this case we worked with Diesel on analready uniquely original bike like the Diavel and the result was surprising to put it mildly. The details characterizing the DiavelDiesel cannot fail to captivate connoisseurs of special bikes but also people from different walks of life, such as fashion. It’salways stimulating for us to move outside the world of motorcycling and widen our brand’s areas of interest.”
The Ducati Diavel Diesel features 1,198.4cc Testastretta 11°, L-Twin cylinder, 4 Desmodromically actuated valves per cylinder,liquid cooled engine which churns out 119kW of power @ 9,250 rpm, and 130.5Nm torque @ 8,000 rpm.
There are three preset Riding Modes which are selectable even while riding, thus immediately affecting the "character" of the DiavelDiesel, adjusting the maximum power, the engine output and the Ducati Traction Control.
The seat of the Ducati Diavel Diesel offers generous space and is 770 mm from the ground, which, together with the handlebar setback, guarantees a pleasant and comfortable ride, said the automaker.
On the front the Diavel Diesel has a 50 mm fork with anti-friction legs in DLC diamond carbon. The fork is fully adjustable in thespring preload, compression and rebound. The rear monoshock acts on the single-sided swinging arm with progressive linkage andis fully adjustable for compression and rebound.
The braking performance of the Diavel Diesel is guaranteed by Brembo brakes with monoblock callipers driven by radial pumps. Onthe front, two semi-floating 320 mm discs are paired with twin four-piston radial callipers, while on the rear the 265 mm disc isengaged by a Brembo two-piston calliper.
The superbike maker further said that the engineered chassis together with the 240 mm rear tyre specially developed by Pirelli forthe Diavel adds personality to the bike and at the same time allows for high levels of handling but also comfort for everyday use.
It features hand-brushed steel superstructures with visible welded rivets. The visible welds also appear on the anodised black sideconveyors with a red methacrylate centre cover bearing an embedded Diesel logo. The red colour is also found on the LCDinstrument panel, the front brake callipers and five chain links. The pipes of the exhaust system feature a Zircotec black ceramiccoating. The silencers with billet endcaps are also black.
The Ducati Diavel Diesel features a leather seat. The pyramid logo appears on the seat, on the front mudguard and on the silencerendcaps. The standard equipment of the Diavel Diesel series also includes rear-view mirrors with billet sump and leg, speciallydesigned bike cover and rear stand.
The standard Diavel Diesel is equipped with the Ducati Safety Pack (DSP). Designed to guarantee maximum vehicle control andactive safety when riding, the DSP includes the Brembo brake system with Bosch ABS and the Ducati Traction Control (DTC) witheight levels.http://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/new-ducati-diavel-diesel-bike-guarantees-to-give-an-adrenaline-rush/56661973
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Bajaj plans 10-year road map for KTM The Hindu
Bajaj Auto, which acquired a 49% stake in Austria’s sport motorcycle maker KTM 10 years ago, is revving up a road map forthe joint venture for the next decade.
Rajiv Bajaj, managing director of Bajaj Auto, had talks with Stefan Pierre, the chief executive officer of KTM, on the road map for thenext 10 years.
“Stefan was here yesterday and we spent the whole day together discussing what has to be done in the next 10years,” said Mr. Bajaj while unveiling a model of KTM bike.
Apart from increasing the product portfolio, which will come with higher price tags, KTM has now entered Indonesia to sell its bikes.
KTM introduced MY17 KTM RC 390, priced at Rs. 2,25,300 (ex-Delhi) and KTM RC 200, priced at Rs. 1,71,740 (ex-Delhi).
Mr. Bajaj said there could be 500-800cc bikes in the future from the KTM stable.
On the Indonesia market expansion, Mr. Bajaj said between April 2017 and March 2018, the company plans to sell 5,000 to 10,000bikes.
Bajaj Auto had entered Indonesian market earlier too, piggybacking on Kawasaki, but it did not take off.
“Earlier, we were selling Bajaj bikes from Kawasaki outlets, but now we will sell KTM bikes from KTM outlets,” Mr.Bajaj said.
Introduced in 2012, KTM has become one of the fastest growing sports motorcycle brand with over 1,00,000 bikes hitting Indianroads.
The company said the growth has been spurred by a large network of 325 exclusive KTM showrooms which will grow to 450 inabout a year’s time.
Amit Nandi, President, Probiking, Bajaj Auto, said the recent demonetization exercise impacted sales in November and December,but the situation improved in January.
“November and December was slow but January seems a lot better though it was not what we had expected. We hopethings to ease out over the next 2-3 months,” Mr. Nandi said.http://www.thehindu.com/todays-paper/tp-business/Bajaj-plans-10-year-road-map-for-KTM/article17064419.ece
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E-Bikes
Components
Timken India in position to tap promise of tomorrow Ashutosh ShyamThe Economic Times
Timken India, a bearings maker and subsidiary of US-based Timken, has shown better revenue growth than peers over the pastfour years fuelled by higher exports and strong parental support.Considering the opportunity arising from the expansion plan ofIndian Railways and Hindustan Aeronautics (HAL), the company is expected to retain the growth momentum in the coming quarters.
Timken India's revenue grew by 12.3% annually in the past four years compared with the 2.8% industry growth. The size of thebearings industry in India is around `10,000 crore, out of which 65% is used in industrial application and the rest in transport.
The company increased the share of exports in revenue to 35% in 2015 from 25% three years ago. The sourcing from its parenttreated as trading has also improved significantly . These factors helped in 250 bps operating margin expansion in the past fouryears.
The growth momentum is expected to continue considering future opportunities. Indian Railways, for instance, plans to add higheraxle freight wagons, high-speed passenger coaches, and several metros in different cities; all this will require tapered rollerbearings, a segment where Timken India is a market leader. The company enjoys more than 50% market share in railway freightapplication. It is also a technical partner for Indian Railways for dedicated freight corridor (DFC) project. The wagon building for DFCis likely to start from 2017.
Besides, 18 metro projects are approved or under implementation in different cities which could provide incremental revenue
potential of `5001,000 crore for bearings companies. Apart from railways, Timken is also likely to supply bearings to HindustanAeronautics (HAL) for light combat helicopters and advanced light helicopters. The production ramp up for helicopters is likely tostart from FY19.
In addition, the company will supply wheel packs for heavy commercial vehicles (more than 25 tonnes), a potential business worth`100 crore. The realisation from wheel pack supply is likely to be 50-60% higher than current bearings supply .
At Thursday's closing of Rs. 6,445.9, the stock was traded at 30 times its 2018 projected earnings. The premium valuation isjustified given the visibility of orders and improving profitability .
Stand-out stocks and stand-out companies seldom get noticed in troubled times. ET delves into financial performance of India Incevery week to identify stocks and companies that have bucked the trend to emerge stronger. This week, we present Timken India.
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Allied Industries
MRF Gujarat factory to come up in a year The Hindu Business Line
Chennai: Leading tyre maker MRF has said that it is proposing to set up its Gujarat factory in Bharuch in a year’s time.
“Our new plant is coming up in Baruch area. We are in the process of buying the lands. It will be a huge project as we will beinvesting about ₹4,500 crore. It will be one of biggest factories in India. We plan to establish the factory in a year’s timeafter securing the lands,” KM Mammen, Chairman & Managing Director, MRF, told BusinessLine on the sidelines of IndiaRubber Expo 2017.
The new factory will cater to both domestic and export markets. “Every factory of ours will focus on both domestic and exportdemand,” he added.
Asked about the rationale behind making a large investment outside South for the first time, he replied that it was unfortunate thatthe company did not consider it in the past.
“Gujarat is a very dynamic State and everything moves so quickly, I am happy there are such States having proactiveapproach to help entrepreneurs,” he added.
“Gujarat is emerging as a key investment destination for the major auto players. The State hopes to surpass the productioncapacity of top car manufacturing States like Haryana, Maharashtra and Tamil Nadu, with an installed capacity to roll out 10 lakhunits annually within the next three to four years,” according to a document of the Gujarat government. As many as 350ancillary units are expected to come up over the next three years. The new factory can also support growth in northern and westernmarkets.
Apart from MRF, Taiwanese tyre company Maxxis Group is in the process of setting up its manufacturing plant in Motown Sanandwith an investment of ₹2,500 crore. It is also home to Ceat, Apollo Tyres, which have been running their plants in Halol andVadodara, respectively.http://www.thehindubusinessline.com/companies/mrfs-gujarat-factory-to-come-up-in-a-year/article9490711.ece
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Rubber & tyre industries should build on their commonalities: Mammen The Hindu Business Line
Chennai: Make in India is an attractive opportunity for the Indian tyre industry to not only help the rubber industry, but also make itspresence felt in the global market, according to KM Mammen, Chairman of Automotive Tyre Manufacturers Association andChairman & Managing Director, MRF.
Addressing the inauguration of India Rubber Expo (IRE) 2017, , “Make in India is a powerful incentive for Indian tyre makersnot just to expand in the Indian market, but also manufacture quality tyres locally for exports to other markets,” he said.
Such expansion by Indian tyre companies will have a cascading effect on rubber growers in the country and even small growers ofrubber will also be benefitted, he noted.
He hoped the government would be proactive in taking measures to facilitate investments of tyre companies and ensure thatproducts are not imported at prices lower than the costs of manufacture in India.
Mammen said the relationship between rubber and tyre industries was a symbiotic one. “We need to focus on thecommonalities and indeed build on it to ensure that the rubber growers and consumers get a healthy return on theirbusinesses.” he felt.
Vinod T Simon, Chief Convenor, IRE 2017, recalled the contributions of late K M Philip, who passed away last week at the age of
104, to the rubber industry.
During the inauguration of IRE, 9th international exhibition and workshop organised by All India Rubber Industries Association(AIRIA), PK Mohamed, Chief Advisor (R & D), Apollo Tyres, was presented the KM Philip award by AIRIA.
With a view to creating awareness on tyre safety amongst visitors of India Rubber Expo at Chennai, ATMA unveiled a tyre safetypavilion with full length panels on tyre care and road safety.
The campaign has been launched in collaboration with India Rubber Expo. Similarly, the Rubber Skill Development Council (RSDC)the sector skill council for rubber in the country has put up a pavilion to meet the rubber industry’s need regarding skilledmanpower.http://www.thehindubusinessline.com/companies/rubber-tyre-industries-should-build-on-their-commonalities-mammen/article9490710.ece?ref=wl_news
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Bosch opens its first fully owned Car Service Centre in Bengaluru The Economic Times
Bengaluru: Bosch has inaugurated its first Company Owned Company Operated (CoCo) Bosch Car Service Centre in Bengaluru onThursday. The centre was inaugurated by Soumitra Bhattacharya, President, Bosch Group India.
Addressing the need created by an increasing customer demand, technological products & systems, growing pre-owned car salesin the market and number of cars coming out of the warranty period, Bosch has established the CoCo Bosch Car Service Centreand further plans to add 700 more car service centres under the franchisee model in the next 5 years.
“The CoCo Bosch Car Service Centre will act as model workshop and issue fresh guidelines to upgrade existing and newFranchisee Bosch Car Service Centres. Through multi-brand car repair workshop concepts, we would like to establish high qualityrepair workshops to support customers across the country. Depending on the size of the workshop, the centres will be equipped toservice around 300 to 750 cars in a month," says Vijay Pandey, Regional President, Automotive Aftermarket, Bosch.
The Centre is equipped with Bosch equipment such as Wheel Aligner and Balancer, Tyre Changer, Nitrogen Tyre Inflator, KTS(ECU diagnostic scanner with ESI software for vehicle diagnosis and troubleshooting), 2-Post and 4-Pole Lifts, AC Service Machine,Headlight aligner, automated car wash and more. The centre is also equipped with accident repair facility with latest Collision RepairSystem, Paint Booth etc.
There are 35 employees currently working at the workstation. The range of services include Routine Maintenance, ECUDiagnostics, Brake Service, Clutch Overhaul, Suspension System, AC diagnostics and service, aggregate repairs, body repairs andpainting, wheel balancing & tyre service and car wash, detailing.http://auto.economictimes.indiatimes.com/news/aftermarket/bosch-opens-its-first-fully-owned-car-service-centre-in-bengaluru/56671784
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Emissions / Environment
Finance & Insurance
Oil, Lubricants & Alternative Fuels
Oil rises from 1-week low; US inventory data in focus ReutersSee this story in: The Hindu Business Line
Singapore: US oil on Thursday moved away from one-week lows touched the session before, with investors turning their attention toupcoming government data on US inventories.
Sentiment in oil markets has been torn between expectations of a rebound in US shale production and hopes that oversupply maybe curbed by output cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and others.
The international benchmark for oil prices, Brent crude rose 51 cents, or 0.95 per cent to $54.43 a barrel by0321 GMT after closingdown 2.8 per cent in the last session.
US West Texas Intermediate crude oil was trading up 46 cents at $51.54 per barrel, having dropped to a one-week low onWednesday at $50.91 a barrel.
“Some bargain hunters are happy to pick up oil at the bottom of the range,” said Ben Le Brun, market analyst atOptions Xpress in Sydney.
“We are just watching for the next catalyst which could come from OPEC, non-OPEC, US shale producers, rig count and, ofcourse, inventories...But still the market appears to be very range bound.”
EIA data
The market is awaiting weekly inventory data from the US Energy Information Administration (EIA), due at 1600 GMT. It has beendelayed by a day due to a US public holiday on Monday.
Data from the American Petroleum Institute (API) showed US crude stocks fell 5.04 million barrels in the week to January13.Analysts had expected a decrease of 342,000 barrels.
Output cut
OPEC said producer cuts agreed late last year should help stabilise the oil market in 2017, with the exporter group’s outputslipping and non-members complying with their production pledges. But the organisation also pointed to the possibly of a rebound inUS output amid higher oil prices.
OPEC, excluding Indonesia, pumped 33.085 million barrels per day last month, according to figures the body collects fromsecondary sources, down 221,000 bpd from November, it said in a report on Wednesday. The figures showed the biggest reductioncame from Saudi Arabia.
“The IEA (International Energy Agency) said it expects higher oil prices to trigger a significant boost in US shaleoutput,” ANZ said in a note.
“However, we still expect the global oil market to move into a significant deficit in the first half of 2017.”
The dollar, which influences moves in greenback-priced commodities, inched up against the yen and kept broad gains against othermajor peers.http://www.thehindubusinessline.com/markets/commodities/oil-rises-from-1week-low-us-inventory-data-in-focus/article9489014.ece
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News Magazines
Maruti Vitara Brezza, TVS Apache RTR 200 win big at Autocar India Awards 2017 Autocar India
Maruti and TVS walked away with top honours at the Autocar India Awards 2017, with the Maruti Vitara Brezza and the TVSApache RTR 200 receiving the 2017 Car of the Year and Bike of the Year awards, respectively.
Apart from taking home the top honours, the Vitara Brezza also proved popular amongst our readers, being crowned as theReader’s Choice Car of the Year. The Brezza’s accomplishments, however, didn’t end as it bagged theCompact SUV of the Year award too. In similar fashion, the Apache RTR 200 was adjudged the Reader’s Choice Bike of theYear.
Last year’s winner, the Renault Kwid, didn’t go home empty handed with the new 1.0-litre AMT model bagging theVariant of the Year award at this year’s edition. In the compact car segment it was the Tiago that took home the prize withthe hatchback also proving to be the best car for the buck by being adjudged the winner in the Value for Money Car of the Year.
For 2017, it was Hyundai that was adjudged as the ‘Manufacturer of the Year’ with the automaker’s newElantra being adjudged the Sedan of the Year.
In the other awards, the Innova Crysta dethroned the Renault Lodgy as the MPV of the Year, while Honda’s latest Accordwas adjudged the Green Car of the Year. In the performance categories, the VW Polo GTI and Audi R8 were awarded thePerformance Hatchback of the Year and Performance Car of the Year awards, respectively, with the iconic Ford Mustang slipping into bag the award for Sportscar of the Year.
Other winners in the four-wheeler categories included the Ford Endeavour, the luxurious Mercedes GLC, the new Volvo S90 andthe Skoda Super. In the two-wheeler categories, the Aprilia SR 150 was awarded the Scooter of the Year, while the Ducati 959 tookthe award for the best import bike.
This year also included a motorsports award with Mahindra Racing being adjudged winners for their string of successes inmotorsport events on the global stage.
2017 Autocar Awards Winners1. Car of the Year – Maruti Vitara Brezza2. Bike of the Year – TVS Apache RTR 2003. Readers' Choice Car of the Year – Maruti Vitara Brezza4. Readers' Choice Bike of the Year - TVS Apache RTR 2005. Best Design & Styling – Volvo S906. Best Value for Money Car of the Year – Tata Tiago7. Variant of the Year – Renault Kwid 1.0 Easy-R8. Manufacturer of the Year – Hyundai Motor India
9. Green Car of the Year – Honda Accord Hybrid10. Performance Car of the Year – Audi R8 V10 Plus11. Compact Car of the Year – Tata Tiago12. Performance Hatchback of the Year – Volkswagen GTI13. Sedan of the Year – Hyundai Elantra14. Entry Luxury Sedan of the Year – Skoda Superb15. Premium Luxury Sedan of the Year – Volvo S9016. MUV of the Year – Toyota Innova Crysta17. Compact SUV of the Year – Maruti Vitara Brezza18. Premium SUV of the Year – Ford Endeavour19. Luxury SUV of the Year – Mercedes GLC20. Sportscar of the Year – Ford Mustang GT21. Scooter of the Year – Aprilia SR 15022. Premium Bike of the Year – Triumph Bonneville Street Twin23. Import Bike of the Year – Ducati 959 Panigale24. Motorsport Award – Mahindra Racinghttp://www.autocarindia.com/auto-news/maruti-vitara-brezza-tvs-apache-rtr-200-win-big-at-autocar-india-awards-2017-403997.aspx
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International News
Hottest debuts at the Detroit Auto Show Hannah Elliott / BloombergSee this story in: The Hindu Business Line
Although many automakers sat out this year, more than 5,000 journalists from 60 countries converged in Detroit for the 2017 NorthAmerican International Auto Show to see the best new efforts from the global marques that did attend. Major themes wereunsurprising to industry insiders: autonomous cars; small, luxury crossover SUVs; plug-in electric and hybrid technology; and thatdreaded, overused phrase, “auto mobility.” Here are the best things we saw.
2018 Kia Stinger
In a surprise hit of the show, Kia showed a sport sedan called the Stinger, the culmination of a concept first unveiled in 2011. Kiaexecutives are calling it “a different level of Kia,” and they may be right. Expect to see it in showrooms late this year,priced at around $50,000. The car is meant to compete against the likes of the BMW 4 Series: It’s a five-passenger,five-door coupe with a 252-horsepower, inline-four engine; an eight-speed automatic transmission; and a zero-to-100 kmph sprinttime of six seconds (the higher-end, 365-hp V6 GT version will do that in five seconds). Driving enthusiasts will love that it’savailable in rear-wheel drive or all-wheel drive.
2018 Mercedes-AMG GT C
Mercedes-Benz introduced a lot of new AMG GT variants this year, and sitting between the GT S and the more aggressive GT R isthe GT C — celebrating the high-performance division’s 50th anniversary. The GT C has the same Panamericanagrille as the others and a front bumper with large air intakes, too, as part of an “AirPanel active aerodynamic system”that changes air intake paths depending on how much cooling is needed to help efficiency. It also has the wide body and rear-axlesteering of the GT R. But the growling 550-horsepower engine with 502 pound-feet of torque is all its own.
Only 50 of these will be made, all with a special edition trim package: matte paint, black-chrome trim highlights, unique badging, anda black-and-silver interior motif. Previous models cost $111,200 to start.
Audi Q8 Concept
Audi’s new, large, luxury SUV runs on a plug-in hybrid system and is the basis for a production model that will hit the marketin 2018. It forms part of the company’s renewed goal to push deeper into the high-end luxury SUV category. The rig willcompete with such vehicles as the BMW X6 and Porsche Cayenne.
Under the hood, the Q8 has both a 333-horsepower combustion engine and a 100kW electric motor on an eight-speedtransmission. The complete system will get 330kW and be able to reach 100 kmph in 5.4 seconds. Top speed is about 250 kmph.It’s interesting to note that the Q8 uses the same platform as the Q7 SUVs but has only four seats instead of seven. With itsflat roofline, it looks wider and squarer than the Q7 and the smaller, best-selling Q5, with equally flared shoulders above the frontand rear wheels that evoke the 1980s Ur-Quattro.
2018 Lexus LS 500
Lexus has had a few misses in recent years, but this latest sedan looks great, with obvious design cues from the LF-FC Concept.The fifth-generation version of the flagship sedan will have a premium rear-wheel drive and “a more dynamicexperience” on the road than its predecessors, according to the carmaker. Performance has been significantly improved,with a 415-horsepower, twin-turbocharged V6 engine paired with a 10-speed automatic transmission and max torque of 442pound-feet. It can hit 100 kmph in 4.5 seconds. The LS 500 also has a lot of new technology — think advanced safetyfeatures, an optional 24-inch color heads-up display — new interior trim inspired by Japanese Shimamoku wood patterns,and an ultra-quiet cabin lined with an optional Mark Levinson surround-sound system. It’ll hit dealerships later this year, likely
in the $72,000 range.
2018 Audi SQ5
All signs point to this car being a blockbuster hit: It sits in the most dynamic category in the car industry today.
The SQ5 has a 3.0-liter V6 engine that can get 354 horsepower with a whopping 347 pound-feet of torque. It’ll reach 100kmph in 5.1 seconds, with a top speed of about 250 kmph. Huge, 21-inch wheels are optional, with black S-branded six-piston,fixed-caliper brakes and 13.8-inch discs. On the inside, S-branded logos are everywhere, along with leather and suede accents,plus adaptive cruise control with traffic jam assist for speeds under 64 kmph, lane-keeping assist, rear cross-traffic alert, parkingassist, and pedestrian detection with automatic emergency braking.
Expect the SQ5 to be a worthy competitor to the Porsche Macan, Mercedes-AMG GLC, and BMW X6 M. Previous models cost$53,300 starting.
Mercedes-Benz E-Class Coupe
Mercedes is adding subtle upgrades to the E-Class line this year, and it was obvious on the E-Class coupe.
Overall, it looks much sleeker than its predecessor, with a sloping roofline and a refined front fascia and grille. It’s 4.8 incheslonger and 2.9 inches wider than the 2017 model, with flattened LED taillights at the rear and four engine options, including afour-cylinder, 194-horsepower diesel. The other variants include the E220 coupe (four-cylinder engine with a top speed of about 241kmph); E200 and E300 (also four-cylinder gasoline engines); and E400 (V6, 333-hp engine). The coupe comes with the mostprogressive technology in its class, including a Remote Parking Pilot that allows the car to move into parking spaces and garagesvia smartphone app. Pricing hasn’t been announced, but the car will go on sale later this year.
BMW X2 Concept
BMW showed yet another take on the all-consuming crossover and light-SUV segment: the X2 Concept, which will compete againstthe smallest, sportiest crossover SUVs from Audi, Porsche, and Mercedes. It’s an exciting group.
The company touts the X2’s “distinctive design,” and it does have a noticeably different roofline and frontbumper, but don’t worry — nothing is ever touching those kidney grilles.
The X2 is closer to the ground than the X3, with a stance more like a coupe; it has oversize wheels with a long wheelbase, astretched roofline, and a very forward-slanted stance. It’s all meant to make the car look sporty. In fact, the X2 shares aplatform with the X1, so it’s a front-drive model with a turbocharged four-cylinder engine. It’ll go on sale in 2018.http://www.thehindubusinessline.com/todays-paper/tp-others/tp-automobile/hottest-debuts-at-the-detroit-auto-show/article9490886.ece
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Volvo Cars and the art of autonomous driving Amrita Nair-GhaswallaThe Hindu Business Line
Google raised a lot of eyebrows years ago when it announced it was developing a self-driving car. At that time, few people took thetechnology seriously. Today, self driving cars are set to be a part of our lives.
The transformative technology is firing the imagination of automobile majors who are joining hands with tech experts to reboot theircars with the latest features.
While Volvo Cars has teamed up with Microsoft, Audi has paired with chip major Nvidia, and BMW with Mobileye. Over the next fiveyears, General Motors, Audi, Ford, Tesla, BMW, Nissan and Mercedes-Benz are tipped to deliver-self driving cars.
Volvo Cars, likewise, is creating one that is in tune with the customer and society.
“We are developing the world’s first large-scale, long-term test of autonomous cars,” said Tom von Bonsdorff,Managing Director, Volvo Auto India, in an email. “Volvo’s Drive Me trial starts this year, when 100 of our customerswill drive XC90s equipped with the technology which will result in the IntelliSafe Autopilot, on Swedish roads.” The companyoffers a semi-autonomous functionality called Pilot Assist on its 90 series cars, which gives gentle steering inputs to keep the carproperly aligned to lane markings and helps with parking.
“The S90, V90 and XC90’s Pilot Assist function can accelerate, brake and steer, keeping one at a set distance fromthe car in front, at speeds up to 130 kmph,” said Bonsdorff.
Drive Me will add “hands-off and feet-off capability in special autonomous drive zones around Gothenburg,” poweredby what Volvo Cars calls the Autonomous Driving Brain.
Recently, the company struck a deal with Microsoft to put Skype conference call functionality inside select cars.
Other automakers are also shifting gears. Last year, General Motors bought self driving startup Cruise, and Nissan teamed up withNASA for its remote human support. NASA uses a similar hybrid troubleshooting process with its Mars rover.
To accelerate the development of autonomous technology, Volvo Cars has partnered with cab aggregator Uber to collaborate on
sensor hardware. Zenuity is an autonomous software venture with Autoliv for automotive safety systems. The new company isexpected to have its first driver assistance products available for sale by 2019 with autonomous driving technologies followingshortly.
According to Bonsdorff, it is the customer-focused approach that sets Drive Me apart from other autonomous driving experiments.Not content to rely on the research of its own engineers, Volvo Cars will collect feedback and inputs from real customers usingthese cars.
“Autonomous cars are set to represent a radical shift in transport, and collaboration with government, customers andpartners is essential to ensure that technology provides the maximum benefit to individuals and to society,” said Bonsdorff.
The Drive Me pilot in Gothenburg is the first in a number of planned trials. A similar initiative will be launched in London, even as thecompany is assessing bids from interested cities in China.
Globally, part-assistance automated driving aids such as collision detection braking and lane departure guidance are practically thenorm though it is different in India.
Volvo Cars radar-based safety systems are offered as standard kit but till now “had been disabled for the Indian market, asper government norms”.
With the opening up of spectrum, however, the company has been able to roll out some hi-tech features.
“Radar-based safety applies brakes and averts collision if the driver is not alert. It works very well in typicalbumper-to-bumper Indian traffic situations too,” said Bonsdorff.http://www.thehindubusinessline.com/todays-paper/tp-others/tp-automobile/volvo-cars-and-the-art-of-autonomous-driving/article9490884.ece
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When mobility players converged on Las Vegas Andy TurtonThe Hindu Business Line
They say that what happens in Vegas, stays in Vegas. Having just attended CES 2017, I hope that isn’t true. By the time itfinished up, consensus judged it the most significant yet for the automotive industry.
There were over 500 auto-related exhibitors, including almost all major manufacturers — an incredible number even for ashow the size of CES. And although the OEMs, suppliers, tech innovators and strategic partnerships on show represented a diversecross section of the industry, several themes dominated their sales pitches and future focused discussions.
Mobility has been on our agenda for several years, but what struck me at CES 2017 weren’t specific innovations, however,impressive. What I sensed is a growing realisation that genuine mobility is the only achievable in an ecosystem where key elementswork seamlessly together.
Development of the autonomous car was naturally a big talking point, but as many observed, the need to continually transmit andreceive a huge amount of information requires more energy than a combustion engine can generate. The heavy demand from theon-board electronics only works optimally if the car is electrically powered. And these vehicles will only be successful if they canintegrate safely into real world traffic and add value by cutting journey times. Busy downtown streets are a far cry from the safetyand space of private test tracks. But it’s a challenge that can be overcome with the implementation of mobility enhancedenvironments like those currently being tested in the US. Urban area networks, powered by robust wireless signalling andnew-wave 5G mobile phone networks, will enable vehicles to anticipate delays, avoid danger and improve efficiency.
Mobiity ecosystem
The main buzz at CES 2017 was about this mobility ecosystem, the need for integration and partnership opportunities it opens. Italso sparked related issues, all of which are far from being resolved.
Auto manufacturers are notoriously long-term in their model strategies. Research, development, production line tooling andmarketing are heavyweight expenses that demand a lengthy payback period. The speed of software development is an alienconcept to manufacturers, yet a necessary new lifeblood.
How can the OEMs, whose traditional sales lifecycle for successful models is around 11 years, adopt a more agile businessapproach that ensures the car’s design language keeps pace with the speed of software innovation? Imagine a world wherechanging your car for the latest model becomes as frequent and ‘normal’ as the way we change our smartphones.
Influence of Millennials
Millennials are a demographic that could influence this revolution. We know they are largely indifferent to the status associated withtraditional car ownership, but we also know how deep their relationship with tech providers runs.
Given that connected automated vehicles (CAVs) will be reliant on data carried by telecommunications providers’ 5Gnetwork spectrum, approaching Millennials from a tech capability and in-car app functionality could be a smart play. It might beespecially powerful if harnessed to an in-the-moment approach to car need and usage.
The thinking at CES 2017 is that savvy urban dwellers are likely to need a car only for a short-term specific use - hiring from a
corporate or sharing within a peer group. So, instead of seeing a car as a three or four-year financial commitment and having toconsider every possible use scenario over the entire ownership period before choosing a model, you’ll be able to hire themost appropriate vehicle by the hour or day. Heading to the beach? Jump in a soft-top. Lugging an antique wardrobe home from anauction? Get yourself a CAV estate for the afternoon.
Fascinating possibilities
This movement towards a more personalised relationship with cars came up time and again at CES 2017. Cars that‘learn’ not just your specific driving and routing habits, but your personal taste in music and beverages are afascinating possibility. Getting to know your love of a good coffee, the car would become your cafe concierge, suggesting localestablishments in a strange town.
These cars will study you in real time, faithfully documenting billions of data points and then translating them through ArtificialIntelligence into recommendations and advice. They will know your weight, height and analyse microscopic perspiration to assessyour health and wellbeing. And why leave it in the office car park all day while you work when it could be busy picking up groceriesbased on data downloaded from your intelligent home’s refrigerator?
As exciting and optimistic as the CAV chatter was at CES, there was also an undercurrent of trepidation. Development andimplementation of the innovations necessary to realise the amazing possibilities will come at a hefty cost. And research suggestsconsumers are nervous about many of these plans — both the expense of electric vehicles and the perceived risk ofdriverless journeys.
It’s a tipping point for the industry with no-one entirely sure what the future holds. It’s time to think about CAVpotential with a wider vision — in terms of the ecosystem and how its success is conditional on inter-related elements.
We need to put consumer behaviour into the mix too, because while they might not be driving the cars, people will influence howfast and how far the mobility ideas seen at CES will go, after leaving Las Vegas.http://www.thehindubusinessline.com/todays-paper/tp-others/tp-automobile/when-mobility-players-converged-on-las-vegas/article9490882.ece
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Carmakers come to terms with new US diktat Murali GopalanThe Hindu Business Line
With less than 24 hours to go before Donald Trump is sworn in as 45th President of US, the global car industry is bracing itself for anew regime.
Over the last fortnight, a slew of carmakers have announced investments totally nearly $20 billion in the US. Toyota MotorCorporation heads the list with $10 billion, albeit over a five-year period, while Hyundai and Kia are next in line with $3.1 billion.General Motors and Fiat Chrysler Automobiles will invest $1 billion each while Ford has earmarked an outlay of $700 million.
Small wonder then that Trump has every reason to feel on top of the world even while Mexico’s plans to emerge a key carproducer could have been seriously derailed. This was especially evident in the backdrop of Ford shelving its original plan ofinvesting $1.6 billion in Mexico and opting for the US instead as part of a revised business strategy.
No political pressure
Many carmakers have insisted that their investments have little to do with political pressure from the new President. If this were thecase, there was really no compelling reason for them to announce their grandiose plans in a rapid sequence of events. Trumpacknowledged these in his tweets where warnings to companies such as GM and Toyota quickly resulted in the companiesannouncing their investment plans for the US.
Nobody can quite blame them at one level considering that there is big business at stake in the world’s second largest carmarket. And even if this means that these automakers need to factor in higher wage bills, it is still a better option than paying heftyimport duties for cars imported into the US.
This precisely was the fear among automobile companies that a Trump regime could see an overhaul of the North American FreeTrade Agreement (NAFTA), which covers the US, Canada and Mexico. For the moment, this is a zero tariff zone but there are veryclear indications from the new President-elect that duties of up to 35 per cent could be imposed on cars entering the US fromMexico.
Threat for German carmakers
More recently, Trump had also sounded out a warning to German carmakers, which include big brands such as Daimler, BMW andVolkswagen, that they could face the prospects of paying high duties on cars shipped to the US. The better option was to invest inthe country instead. It is now crystal clear that doing business with America is now going to be a different ballgame for a host ofcountries, which have had little reason to complain thus far.
It is also becoming increasingly evident that a new world order is gradually coming into place where global relationships are going tobe realigned, which, in turn, will impact the auto industry. Britain’s Prime Minister, Theresa May, has made it amply clear thatthe country will exercise hard options following its move to exit the European Union.
Trump, who has been a vocal supporter of Brexit, has now made it clear that he is open to a new trade pact between the US and
UK. All this is happening while brands sucha as Jaguar Land Rover and Nissan, with considerable investments in Britain, willponder over the implications of a high duty regime with the EU. They will have their task cut out in formulating new businessstrategies keeping access to the US in mind.
It will also be interesting to watch how the emerging bonhomie between Russia and America will pan out in the Trumpadministration and if this will help the automobile industry. For the moment, this is extremely unlikely and looks far-fetched. Evenwhile the Russian economy has been going through a roller coaster ride lately, car companies know only too well that it is a marketwith immense potential.
US, China relationship
The bigger area of concern is the relationship between the US and China. From the auto sector’s point of view, investing inthe Chinese economy is a no-brainer given that it is the world’s largest car producer with over 25 million units annually. It isGM’s biggest market whose long-term ally, SAIC Motor Corp, is now looking at growing the relationship to other parts of theworld. Any political tension with China could have serious repercussions for American carmakers which they can ill-afford at thispoint in time.
In a way, it does seem ironical that there is so much talk of reviving the US auto industry which is in much better shape today. Theworst periods were experienced during the post-Lehman crisis in 2009 when Detroit collapsed like a pack of cards with GM andChrysler being the worst affected. It was during this time that the Obama administration pulled out all stops to get things back ontrack which saw Chrysler getting into the Fiat fold.
Today, the big-ticket investments will come in for sure into the US but this could be at the expense of Mexico. While companies likeBMW have reiterated that they will go ahead with their plans in the region, there will be constant pressure to reroute investments tothe US. The coming years are going to be particularly challenging for the global automobile industry which is already coping with ahost of other issues on safety, emissions and political uncertainties.http://www.thehindubusinessline.com/todays-paper/tp-others/tp-automobile/carmakers-come-to-terms-with-new-us-diktat/article9490883.ece
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BYD plans to sell cars in US The Hindu Business Line
BYD Co Ltd plans to sell electric passenger cars in the United States ina bout two to three years, an executive said on Thursday, asit races to be the first Chinese automaker to sell cars to American drivers. BYD, backed by Warren Buffett’s BerkshireHathaway Inc, specialises in electric and plug-in petrol-electric hybrid vehicles. At present, its US presence is limited to producingbuses and selling fleet vehicles such as taxis.
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Panasonic, Tesla to extend pact The Hindu Business Line
Panasonic Corp aims to extend its partnership with electric car maker Tesla Motors Inc beyond batteries and into self-drivingtechnology, as the Japanese conglomerate continues to shift its focus to the automotive business.
The electronics maker has placed automotive applications at the centre of a growth strategy that targets corporate client sat theexpense of low-margin consumer goods, where low-cost Asian rivals have diminished the dominance of Japanese firms. Panasonicis the exclusive supplier of batteries for Tesla’s Model S, Model X and upcoming mass market Model 3, and plans tocontribute $1.6 billion to Tesla’s $5 billion battery factory.
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Bain Cap joins KSS to rescue Takata The Hindu Business Line
US buyout firm Bain Capital has joined Key Safety Systems (KSS) in the US auto parts supplier’s bid to rescue Takata Corpas the Japanese firm struggles for survival after a massive recall linked to its faulty air bags. Takata is in the process of selecting afinancial backer as it faces billions of dollars in costs to replace as many as around 100 million potentially defective air bag inflatorsthat have been linked to at least 16 deaths globally. A financial source told Reuters that Bain was bidding with KSS, adding thatpotential bidders for Takata have favoured a court-led turn around of its Japanese operations, which could lessen their exposuretoTakata’s existing liabilities.
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China's auto sales grow at 5%: VW The Hindu Business Line
Volkswagen AG expects the Chinese auto market to grow at a slower pace of five per cent in 2017, the German automaker’sChina chief said, as tax incentives for small-engined cars are rolled back. Volkswagen’s prediction, made by its China ChiefExecutive Jochem Heizmann, is the same as China’s automakers association, which said earlier this month it expectsvehicle sales to grow five per cent this year. China’s auto market, the world’s largest, got a shot in the arm after thegovernment cut taxes on cars with engines of 1.6litres or below in late 2015, helping lift vehicle sales to 13.7 per cent growth lastyear.
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Yamaha to launch GDR155 in ASEAN The Hindu Business Line
Yamaha Motor is set to launch the GDR155, a new scooter blending a stylish form and sporty ride, as a strategic model for ASEANmarkets. Launched in Vietnam as the NVX and in Thailand as the AEROX in December 2016, the GDR155 will subsequently beintroduced in Indonesia and other ASEAN markets. Its main features include a 155cc liquid-cooled Blue Core engine for superioracceleration and fuel efficiency, a lightweight 116 kg body for sporty handling, and a new design. The GDR155 will be manufacturedin Vietnam, Thailand and Indonesia.
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GM adapts $1 b receipe for Indian market ReutersSee this story in: The Hindu Business Line
After an 18-month review, General Motors is nearer to resolving a raft of issues that have hobbled its $1 billion strategy for India.
The strategy, announced in July 2015, includes selling one of its two Indian assembly plants to a Chinese partner; changing itsvehicle platform to provide a product line-up better suited to the local market; and making India an export hub, two Asia-basedpeople with knowledge of the plans told Reuters in Detroit this month. They did not want to benamed as the review is ongoing.GM needs to finalise these moves to turn around its money-losing business in India, where its sales fell by more than a fifth lastyear to just 28,949 vehicles, taking its market share to below 1 per cent.
“India is a very tough market. It’s growing and has potential for the future. But you need the right recipe,” oneof the individuals said. India’s auto market, dominated by Suzuki Motor and Hyundai Motor, is widely tipped to overtakeJapan as the world’s third biggest by around 2020.GM said in mid-2015 it aimed to double its India market share by 2020. But its share fell to 0.93 per cent last year from1.18 per centin 2015 — even as India’s market grew 7 per cent to around 3 million vehicles.
“Despite being one of the earliest entrants to India ... GM has consistently lost share. One issue is that it misunderstood whatvalue means to Indian consumers. Value doesn’t mean low price, it means having a product that has the right mix of goodprice and content,” said Puneet Gupta, an analyst at IHS Markit in New Delhi.
The US automaker is close to selling its Halol plant in Gujarat to SAIC Motor, its main Chinese joint-venture partner.
Selling the Halol facility, which has annual capacity for upto 110,000 vehicles, would allow GM to consolidate and modernise itsIndia manufacturing capability at Talegaon, Maharashtra, which currently can produce 150,000 vehicles a year.
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Ford sets new template for rule-compliant ABS Reuters / Joy WiltermuthSee this story in: The Economic Times
New York: Ford Motor Credit helped reopen the dormant asset-backed securities market this week after selling the first ever publicbond to fully comply with post-crisis regulations.
Investors piled into the long-awaited US$1.57bn deal that bankers now hope will provide a blueprint for other auto issuers who havebeen waiting on the sidelines since the new regulations came into effect late last year.
"All of the classes were one to two times oversubscribed," said Jennifer Thomas, a vice president in the fixed-income unit ofLoomis, Sayles & Company.
"Overall, it's a positive," she told IFR.
"I think most issuers will likely follow what Ford does."
Ford's trade is the industry's first public ABS deal to meet both the Dodd-Frank Act's risk retention rules and additional loan leveldisclosures required by the US Securities and Exchange Commission.
The rules aim to better align the interests of bond sellers and buyers, while putting more information in the public domain about the
quality of loans backing such deals.
One hurdle for issuers has been pulling the large amount of data together.
A typical auto ABS deal is backed by tens of thousands of auto loans. Some issuers had been asked to shrink the size of their filesto upload them to the SEC's website, an attorney working with issuers told IFR.
The reams of raw data now available on the Ford trade looked "like The Matrix, the movie," one ABS banker said.Bankers flagged Ford as the likely candidate to bring the first such deal late last year, not least because it is known for its highcollateral quality and liquidity.
Now the hope is it would spur others to consider following the same path.
Less than a handful of deals have come to market in the past month - all of them private deals - as many issuers rushed to sellissues before the new rules took effect in late November and December.
Ally Financial, CarMax, Santander Consumer USA and Flagship Credit Acceptance have recently filed notice of their plans to issueABS with the SEC.
Enterprise Rent-A-Car has mandated banks for a private deal.
CarMax is expected to offer its notes in a public format that complies with the new rules, according to a banker familiar with thematter.
"I do think there were some people waiting to leverage off what Ford disclosed," another ABS banker told IFR."The tone is good, and we have a good pipeline for early February and late January."
POSITIVE TONEThe dearth of supply played to Ford's advantage, and was partly attributed to the tight pricing on the trade.At least one class priced a dramatic 25% tighter than the carmaker's prior ABS deal in October.
The US$135.5m class of 3.25-year Triple As cleared at 23bp over interpolated swaps, according to pricing details viewed by IFR.That was at tight end of an initial 23bp-26bp range of talk, and 5bp less than similar notes sold by Ford last fall.
But while the deal's success was applauded by both rival bankers and investors, some said other issuers will instead opt to issuebonds in a private format to avoid the costs, time and upkeep of the public data requirements.
"It's a lot of data," said Philip Armstrong, an associate portfolio manager at Invesco, about Ford's public disclosures."When you start to move away from Ford to less programmatic issuers, I think that will be more telling."
For some, the rules will also require issuers to publicly provide the market - for the first time - an estimate of the value of theirretained notes.
That may be a sticking point for issuers that securitize riskier collateral where losses are expected to be higher than, Ford's typicalcollateral, for example.
"I think Ford was a big deal for some," said Chris Gavin, a structured finance attorney at Cadwalader, Wickersham & Taft.
"A lot of people have ideas [about compliant structures] they have been kicking around, but now it's final decision time."
Citigroup structured the Ford trade, and acted as joint bookrunner with BNP Paribas, Bradesco, Goldman Sachs and SocieteGenerale. Ford did not respond to a request for comment.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/ford-sets-new-template-for-rule-compliant-a/56660058
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Audi produces 8 millionth vehicle at its new Mexico plant New Delhi: German luxury carmaker Audi has manufactured the 8 millionth Audi with quattro drive at its new plant in San JoséChiapa, Mexico. The milestone car is a garnet red Audi Q5 2.0 TFSI quattro.
Quattro technology made its debut in 1980, and today it is available in more than 100 model versions. The quattro all-wheel drivesystem is standard in the Audi Q7, the Audi A4 allroad quattro, the Audi A6 allroad quattro, the Audi A8, the Audi R8 and all Smodels and RS models, and it is available as an option in all other model series.
In 2015, 44 percent of all Audi customers worldwide chose models equipped with quattro drive. The Audi Q5 topped the list withabout 262,000 units. The quattro models generated particularly strong sales in the United States, Canada, Russia and in themarkets of the Middle East. In Germany quattro sales totaled 122,048 cars, informed the company.
Audi offers the quattro drive in different versions tailored to each model. For the compact model series with transverse-mountedengines, an electronically controlled hydraulic multi-plate clutch is mounted at the rear axle. On the R8 mid-engine sports car, themulti-plate clutch is at the front axle. According to the driving situation encountered, these active systems distribute drive torquevariably to both axles.
The automaker further added, "The latest phase of development from Audi is the quattro drive with ultra technology."
The Audi Group, with its brands Audi, Ducati and Lamborghini, is present in more than 100 markets worldwide and produces at 16locations in twelve countries.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/uv/audi-produces-8-millionth-vehicle-at-its-new-mexico-plant/56671164
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Tata Motors' JLR best example of UK's internationalist approach: Theresa May PTIDAVOS: Asserting that the UK will retain its "internationalist" approach despite Brexit, Prime Minister Theresa May today said thecountry's biggest manufacturer Tata is Indian, but still there cannot be anything more British than its product Jaguar Land Rover.
She also said Britain will step up to a new global leadership role and ink stronger free trade pacts with Europe while talks havealready started for new deals with India and several other countries.
May called upon the world to engage with each other to ensure globalisation and free trade works for all and benefits everyone.
According to her, forces of free trade and globalisation that have harnessed wealth and opportunities across the world and brokendown the barriers are somehow at risk of being undermined.
"Forces of far left and far right are at work in today's world and there are those playing politics of fear and despair. Politics ofmainstream needs to ensure they take care of genuine needs of the people," the British Prime Minister said.
"We want to be even more internationalist and that has been our role traditionally," she added.
"So, many of us have friends and relatives across the world. We will pursue a bold and strong free trade agreement with Europe,"May stressed.
Noting that Britain has started talks for stronger trade pacts with India and several other countries, she said: "Our biggestmanufacturer is Tata which is Indian and still there can't be more British than Jaguar Land Rover."
Amid uncertainties over the impact of Britain's decision to exit the European Union, May said the UK will step up to a new leadershiprole including for free markets and a free world.
"Little over six months ago, millions of our people upset the odds... British people have chosen a new stronger Britain. Some of ourEuropean partners feel we have turned our back on them, but our decision to leave the EU was no way a rejection of our friends inEurope. It remains in our national interest that EU as an institution succeeds," she said.
May said talks of greater globalisation can make people fearful and these tensions are being greatly exposed through social media.
"But if we want to make it work, we must work together and this challenge requires new approach from the governments and fromthe businesses," the Prime Minister said, adding that governments would back the businesses to ensure the benefits are distributedamong everyone.
"I am determined that the people in mainstream politics listen to the people... I will make sure mainstream politics will respond to theconcerns of today and show how globalisation can work for everyone." May said.
Noting that too often the responsibilities we have to one another have been forgotten in a cult of individualism, she said, "we can'tleave economic prosperity to international market forces alone, governments must also step up".
"Business must demonstrate leadership... to show that everyone is playing by the same rules. If we are to maintain public consentfor a global economy, we need higher standards of corporate governance," May said.
She also stressed that businesses all have to play by the same tax rules.
Stating that a new approach from both governments and businesses to ensure all are included under the benefits of globalisation,the Prime Minister said, "Britain is by instinct a great global trading nation. We seek the freedom to build trade deals with friends, oldand new."
The UK will be best friend and neighbour to our European partners, but reach beyond Europe too, she added.
Further, the Prime Minister said Britain is no less British because it is home to people from around the world and derives strengthfrom the diversity.
"Responsive and responsible leadership will deliver security, prosperity and belonging for all," she said.http://auto.economictimes.indiatimes.com/news/industry/tata-motors-jlr-best-example-of-uks-internationalist-approach-theresa-may/56666104
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German MPs to grill Volkswagen ex-boss Martin Winterkorn over 'Dieselgate' AFPBerlin: Disgraced former Volkswagen boss Martin Winterkorn faces a grilling by German lawmakers Thursday, as accusations growof top executives at the beleaguered auto giant colluding to cover up emissions cheating.The former CEO's testimony will be "particularly important" in light of the latest allegations against the Volkswagen group, said
Herbert Behrens, who heads a special parliamentary committee investigating the "dieselgate" scandal.Winterkorn resigned in September 2015, days after the Volkswagen group admitted it had installed software in 11 million dieselvehicles worldwide to dupe emissions tests and make the cars seem less polluting than they were.A fastidious perfectionist with the nickname "Mr Quality", Winterkorn had once boasted jokingly in an interview: "I know every screwin our cars."But the former chief executive said he knew nothing of the pollution cheating scam.US investigators have turned up the heat on Volkswagen in recent weeks, revealing that they believe Volkswagen top brass wereaware of the cheating as far back as July 2015.They also arrested Volkswagen executive Oliver Schmidt, formerly responsible for US compliance issues, and charged him withfraud and conspiracy over the dieselgate controversy."The arrest of a Volkswagen manager and his declarations to the FBI are directly relevant to the work of the parliamentarycommittee," Behrens said in a statement last week, adding that it was essential to establish "when the Volkswagen board wasinformed" of the cheating.'Authorised concealment'According to the FBI, Schmidt and other Volkswagen employees in July 2015 briefed senior executives at its German headquartersof the defeat device, saying regulators were not aware of the mechanism."Rather than advocate for disclosure of the defeat device to US regulators, Volkswagen executive management authorised itscontinued concealment," the FBI said.Volkswagen has agreed to plead guilty to conspiracy to defraud the United States as well as to obstruction of justice for destroyingdocuments related to the scheme.As part of the deal, it has also agreed to pay $4.3 billion (four billion euros) in civil and criminal fines.But according to the final settlement running to 86 pages, the group does not clarify who holds responsibility within the company forthe scandal.The issue carries importance in Germany, where investigators have placed Winterkorn under investigation as they seek to establishthe exact chain of responsibility in the scam.The probe is looking at the allegation of fraud in the sales of vehicles with manipulated emission values.In addition, prosecutors are examining if management had divulged existence of the scandal later than they were legally obliged tounder stock market rules, thereby essentially manipulating stock prices.More than 1,400 shareholders are also suing for damages worth a total 8 billion euros after the announcement of the scam wipedout some 40 percent of Volkswagen's market capitalisation in days.The still incalculable costs of the affair -- including regulatory fines and legal costs -- pushed Volkswagen into the red for the firsttime in more than 20 years in 2015 when it booked a loss of 1.6 billion euros due to the provisions it was forced to set aside.'Something illegal'The group has not budged on its timeline of events -- saying that top management was informed about the scandal only at "the endof August, early September 2015".But on Sunday, German daily Bild said that during a meeting organised by Volkswagen management on July 27, 2015 and attendedby Winterkorn, a participant raised "the fact that something illegal had been installed in our vehicles".The participant then asked what strategy the group should adopt vis-a-vis the information, reported the daily.That appeared to square with the timeline given by the FBI.Meanwhile, Sueddeutsche Zeitung and regional broadcasters WDR and NDR reported that two witnesses had told US authoritiesthat they had raised the issue directly with Winterkorn as early as 2012 and 2014.The parliamentary committee is also trying to determine whether government officials knew about the scandal before it becamepublic knowledge.Vice-Chancellor Sigmar Gabriel has already appeared before the panel, while Chancellor Angela Merkel is to be questioned onMarch 8.http://economictimes.indiatimes.com/news/international/business/german-mps-to-grill-volkswagen-ex-boss-martin-winterkorn-over-dieselgate/articleshow/56662013.cms
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Germany's auto industry warns 'hard Brexit' to stifle UK investment ReutersFrankfurt: Germany's powerful carmakers warned uncertainty about future tariffs in the wake of a "hard Brexit" could deterinvestment in Britain over a number of years, hampering their largest export market.Every second new car sold in Britain comes from a German-owned brand, and every second car made in the United Kingdom isexported to a customer in the European Union, Germany's carmaking lobby VDA said."An exit of Great Britain from the (EU's) common market would have significant consequences for the economy on both sides of thechannel," VDA president Matthias Wissmann said in a statement to Reuters on Wednesday."A hard Brexit would be arduous and expensive. The consequence would be a long phase of insecurity. By the time new contractshave been negotiated, years will pass. This has a deterring effect on investors."In a major speech on Tuesday, Prime Minister Theresa May said Britain would leave the EU's single market - interpreted by someeconomists as a "hard Brexit." She added Britain could not remain a full member of its tariff-free zone, but would seek unfetteredtrade with the bloc.In 2015, the last year for which statistics are available, 810,000 cars made in Germany were sold in Britain, VDA said. Some 57percent of cars exported from Britain go to the EU, it added."That is why the automakers have a large interest in finding solutions which enable intensive trade and preserves the value chain,"Wissmann said.http://auto.economictimes.indiatimes.com/news/industry/germanys-auto-industry-warns-hard-brexit-to-stifle-uk-investment/56663869
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Renault-Nissan electric car sales hit 400,000 globally in 2016 ReutersDAVOS, SWITZERLAND: Renault-Nissan has sold more than 400,000 electric cars globally and the leader in plug-in vehicles is
planning further investment to maintain its market lead, the chief executive of the auto alliance said on Wednesday.Carlos Ghosn disclosed the sales figure during an interview with Reuters on the sidelines of the World Economic Forum in Davos."We are going to increase investment, we are going to have lot of new cars coming, better batteries, better performance, lowerprices," Ghosn said.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/renault-nissan-electric-car-sales-hit-400000-globally-in-2016/56663810
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China's BYD plans to sell passenger cars in US in 2-3 years ReutersBeijing: BYD Co plans to sell electric passenger cars in the United States in about two to three years, an executive said onThursday, as it races to be the first Chinese automaker to sell cars to American drivers.BYD, backed by Warren Buffett's Berkshire Hathaway Inc , specializes in electric and plug-in petrol-electric hybrid vehicles. Atpresent, its US presence is limited to producing buses and selling fleet vehicles such as taxis.Li Yunfei, BYD's deputy general manager for branding and public relations, said its passenger car plan was not fixed as entering theUS was a complicated process."It could be adjusted," Li said at an event in Beijing. "Now we can only say roughly 2 to 3 years."China's government has used a raft of policies, including billions of dollars in subsidies, to spur a boom in electric and plug-in hybridsales since 2015. The US, meanwhile, has lagged.BYD has had false starts in the US, with Chairman Wang Chuanfu previously saying the automaker would begin selling in the US in2010. Other Chinese peers have also encountered delays in entering the market.GAC Motor, a subsidiary of Guangzhou Automobile Group Co, displayed three models at the Detroit Auto Show earlier this month,stating it would enter the US by 2019 instead of a previous goal of 2017.A GAC Motor spokeswoman declined to elaborate on the delay.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/chinas-byd-plans-to-sell-passenger-cars-in-us-in-2-3-years/56663516
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New 2018 Ford Mustang unveiled with technology, design changes The Economic Times
Los Angeles, California: American automaker Ford Motor Company has unveiled all new 2018 Mustang. The 2018 Ford Mustanghas received a host of improvements including new technology and design changes. The company is also offering its customersmore ways than ever to personalise Ford Mustang with three new paint colours, 12 distinct wheel choices and a customisable digitalinstrument cluster.
“The new Mustang is our best ever, based on more than 50 years as one of the iconic sports car in America and now, theworld,” said Joe Hinrichs, president of The Americas. “Tapping Mustang’s enormous fan base, we’rebringing the new Mustang straight to the people – and introducing the new car across multiple social media channels,reaching millions.”
Mustang makes available Ford’s first 12-inch all-digital LCD screen in the dashboard. This all-new customisable instrumentcluster can be easily personalised, offering three separate views. Customers can personalise the displays for normal, sport andtrack mode. All-new Mustang MyMode with memory function allows customers to save their favorite drive settings, includingsuspension and steering preferences.
The automaker said that the new 2018 Ford Mustang is so customisable that even its engine note can be adjusted. An all-newactive valve exhaust system is optional on Mustang GT, with a fully variable soundtrack to match the entire acceleration range.
The vehicle comes equipped with new features like Pre-Collision Assist with pedestrian detection, distance alert, lane-departurewarning, lane-keeping assist and Driver Alert System.
Ford SYNC Connect with FordPass is available on Mustang for the first time. When using the FordPass app for smartphones,drivers can start, lock, unlock and locate their car.
On all models of new Ford Mustang, new shock absorbers make for better ride control, a new cross-axis joint in the rear suspensionleads to increased lateral stiffness, and innovative stabilizer bars bring sharper response and handling, claims the carmaker.
MagneRide damper technology is a new option with the Mustang Performance Package.
It comes with two engine options - 2.3-liter EcoBoost four-cylinder engine, and 5.0-liter V8 engine. The latter has been thoroughlyreworked. It is more powerful and revs higher than any Mustang GT before. This power increase was achieved with the firstapplication for Mustang of Ford’s new dual-fuel, high-pressure direct injection and low-pressure port fuel injection on a V8engine.
The manual transmission for both engine options has been upgraded for optimal torque. For the V8, the manual transmission hasbeen totally redesigned to include a twin-disc clutch and dual-mass flywheel to increase torque capability and deliver more efficientclutch modulation.
A new 10-speed automatic transmission has been made available with both EcoBoost and V8 engines.
The car’s exterior design is now more athletic, with a lower, remodeled hood and grille that deliver a leaner look and refined
aerodynamics, upper and lower front grilles, and a new position for hood vents. For the first time the entire Mustang line will featureall-LED front lights including signature lighting, low-beams, turn signals, efficient projector high-beams and available fog lamps.
The rear of the car gets revised LED taillamps for a more technical look, plus a new bumper, fascia and available performancespoiler. Dual-tip exhaust is standard for EcoBoost Mustang, while V8-powered Mustang GT gets a standard quad-tip exhaust.
2018 Ford Mustang goes on sale in North America this fall.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/new-2018-ford-mustang-unveiled-with-technology-design-changes/56661274
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Ex-Volkswagen CEO Martin Winterkorn denies prior knowledge of dieselgate' The Economic Times
Berlin: Former Volkswagen CEO Martin Winterkorn denied early knowledge of the company’s cheating on diesel emissionsas he testified on Thursday to a German parliamentary inquiry — his first major public appearance since he resigned in 2015.
The 69-year-old resigned in September 2015, several days after news of Volkswagen’s use of software to cheat onemissions emerged in the US, saying that he was not aware of any wrongdoing on his part.
“As CEO I took political responsibility,’’ he told lawmakers on Thursday. “Believe me, this step was themost difficult of my life.”
Winterkorn, flanked by two lawyers, told the panel in an opening statement that “it is not the case’’ he knewearlier than previously thought of the scandal. He said he’s still seeking “satisfactory answers’’ as towhat happened.
Winterkorn said he wouldn’t comment on details that are a matter for a criminal investigation by prosecutors inBraunschweig, Germany, and declined to answer several questions on exactly when he knew what.
The former CEO acknowledged that “love of detail’’ was his “trademark”. “It is notcomprehensible why I was not informed early and clearly about the measurement problems,’’ he said.
He added: “Of course I ask myself if I missed signals or misread them.’’ He wouldn’t elaborate on whatthose signals were, citing the ongoing investigation.
Volkswagen installed software on diesel engines that activated pollution controls during tests and switched them off in real-worlddriving. The software allowed the cars to spew harmful nitrogen oxide at up to 40 times the legal limit.http://economictimes.indiatimes.com/news/international/world-news/ex-volkswagen-ceo-martin-winterkorn-denies-prior-knowledge-of-dieselgate/articleshow/56675125.cms
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These automakers could be Donald Trump's next targets Kyle Stockmint
New York: Donald Trump’s Twitter-fueled bid to crimp free trade in the auto industry began with a warning to Detroit’sBig 3 about building factories south of the border. Later, he fired off threats to German automakers—specifically BMW, whichis far along in completing a plant in San Luis Potosi, Mexico, that’s set to churn out 150,000 cars a year.
But as the Republican president-elect takes office this week—and potentially makes good on a promised 35% tariff onvehicle imports—some sizable auto industry targets for his internet ire remain.
Load up the 140-character word cannon—here’s where Trump may be aiming next.
Blame CanadaThe heart of the US auto industry may be in Detroit, but much of its muscle lies just across the river in Windsor, Ontario.That’s where almost 6,000 Fiat-Chrysler workers bolt together the Chrysler Pacifica minivan and Ram pickups.
All told, Ontario assembly plants have about 27,000 auto workers, including 5,600 people assembling Chevrolet SUVs and thesporty Camaro at two General Motors plants. There’s also some 7,000 folks at two Toyota installations, stamping out LexusRX crossovers, Corolla sedans, and Rav4 trucks.
That’s almost one assembly worker for every five in the US, according to labor data culled from the companies and theAlliance of Automobile Manufacturers. When it comes to vehicles, the US trade gap with Canada is actually larger than itsimbalance with Mexico—$28.6 billion in the first 11 months of 2016, versus $18.3 billion on the southern border.
Bits and PiecesA car itself, however, is just one product in a sprawling supply chain. The North American Free Trade Agreement more thananything else freed up the movement of parts. Anti-lock brake systems from Toluca, Mexico, and transmissions from Guelph,Ontario, might come together in San Antonio to be riveted onto a Toyota Tacoma, or an Accord rolling out of the massive Hondaplant in Marysville, Ohio.
Each part on a North American vehicle–be it in Canada, Mexico, or the US—may have crossed borders up to eighttimes, according to a recent analysis from the Center for Automotive Research. Of course, names of suppliers such as RobertBosch and Linamar Corp. don’t have as much heft in a Twitter tirade as Ford or GM, but if Trump is spending long nights inMar-a-Lago poring through Federal Trade Commission spreadsheets, he won’t like what he sees (Trump’srepresentatives didn’t return requests for comment). The US trade balance with Mexico for auto parts is about one-thirdlarger than that for vehicles themselves.
Pivot to AsiaFinally, Trump could take a page from the Ronald Reagan playbook and go after Asia. On a list of the most-popular US cars thataren’t made in the US, eight of the top 10 come from Japan-based companies. Subaru’s Forester tops the list,followed by Nissan’s Rogue.
On vehicles alone, the US trade balance with Japan is almost twice as large as its gap with Mexico. South Korea, the home ofHyundai and Kia, also sends a steady and fairly one-way stream of cars to America.
A widespread 35% tariff on imported vehicles would have a chilling effect on all three of these regions. Under such a penalty, theentire US auto industry might look a lot like the current market for pickups, which has faced a 25% tariff on imports since the early1960s. When it comes to trucks, American consumers have far fewer choices than they do for something like a sedan.
The so-called chicken tax (don’t ask) has indeed pushed some foreign automakers to build plants in the US Toyota makesTacomas in Texas, for example, while Nissan Titans come out of Canton, Mississippi, and Honda bangs together its Ridgeline inLincoln, Alabama. But some of the biggest names in the business, including Hyundai and Volkswagen, stay out of the segmententirely. Mercedes is adding a pickup truck to its product line this year, but ironically, it has no plans to sell it in America.
All told, if the US were to abolish NAFTA, it would eventually welcome some 22,000 new production jobs, according to the Centerfor Automotive Research. The bad news though is that the country would also lose 37,000 jobs, as vehicle prices creep up andchoices and demand tick down.
“That’s a very conservative estimate,” said Kristin Dziczek, director of the Industry, Labor & Economics Groupat the Center for Automotive Research. “I don’t know many people who can afford a 100% made-in-the-USAvehicle.” Bloomberghttp://www.livemint.com/Industry/JPQDxO9Iasel0v5UePDIsL/These-automakers-could-be-Donald-Trumps-next-targets.html
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Economy
Rupee down 5 paise to 68.13/$ PTISee this story in: The Hindu Business Line
Mumbai: The rupee weakened further by five paise to close at a one-week low of 68.13 against a resurgent dollar amid hawkishtone from the US Federal Reserve. High volatility continued to churn the market for the second day as investors waited for moreclarity in an uncertain global scenario in the midst of confusing signals from the world’s major central banks.
Consistent demand for the dollar from importers mainly weighed on the rupee. However, better capital inflows and firm local equitieshelped the home currency regain some lost ground towards the fag-end of trade, a forex dealer said.http://www.thehindubusinessline.com/markets/forex/rupee-dollar-live-update/article9489081.ece
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