Wednesday, 14 May 2014

Automotive Updates - 14th May 2014

  • Bajaj AutoBSE 3.10 % employees' union has postponed its proposed strike from tomorrow after considering suggestions of Shramik Ekta Mahasangh, the umbrella organisation of trade unions in the region. It, however, added that if Mahasangh's intervention also fails it will will have no option but go ahead with plans of agitation. 
  • Escorts Ltd has launched its Farmtrac Heritage tractor range at South Africa’s NAMPO 2014 agriculture show. The Heritage series, which comprises tractors in the 50-75hp range, received a good response at last year’s Agritechnica Show in Hanover
  • India has commenced exports of the Hyundai Xcent and the Middle East is the first port of call. Hyundai would also introduce the car in Nepal, its distributor confirmed last month, but the company remained tight lipped on the other destinations it plans to ship the car to.
  • Tata Motors launched three new next-gen heavy trucks from its PRIMA range of commercial vehicles in Qatar, along with its partners, Al-Hamad Automobiles.
  • Specialty chemicals major Lanxess India has appointed, effective May 1, 2014, Dr Jacques Perez as its managing director and vice-chairman. He will also be the country representative for the company. This will be in addition to his earlier responsibility as a director and CFO at Lanxess India.
  • Honda Motorcycle & Scooter India will launch an all-new 160 cc bike between July and September this year. The announcement was made at a business meeting in Tokyo yesterday and the confirmation came from the company via a press release.
  •  Mahindra & Mahindra (M&M) is looking at US not only as a market for the GenZe but will also export out of it. “Exporting to various markets outside USA is certainly on the cards,” says Dr Pawan Goenka, executive director and president – Automotive & Farm Equipment Sectors, M&M, in an email response to Autocar Professional.  The GenZe plant has the capacity to assemble up to 9,000 vehicles per annum, with the ability to ramp up to 20,000 vehicles if needed. The exports could be of the GenZe and other products, as Mahindra may build a portfolio of electric two-wheelers. “What we are doing with electric two-wheelers with GenZe is a beginning. All options are open,” says Dr Goenka.
  • Power management company Eaton has signed a framework agreement with Great Wall Motors Co. Ltd. (GWM) to create a long-term strategic partnership that drives growth for both companies through greater technical exchange and resource sharing. The agreement was signed during an Eaton Tech Day held at GWM’s Baoding facility in China’s Hebei province earlier this month. 
  • Global automotive supplier Brose has opened a new door systems plant in Bremen. On the 4,500 square metres shopfloor, the mechatronics specialist manufactures door systems for the new Mercedes-Benz C-class sedan. These are then delivered to the assembly line of the local Mercedes-Benz car plant and fitted into as many as 600 vehicles a day.
  • Castrol India Limited announced today that their net profit after tax is down by 19% in first quarter of this year (January-March-2014). The company's net profit after taxation is 100.2 crores while the oil manufacturer recorded 124.3 crores net profit same last year. The company also introduced two new engine oils Castrol Active Scooter and Castrol Magnatec Stop Start. They also won a contract for supply of products during this period with Ford India for their new plant in Sanand, Gujarat

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