Automotive Updates - 17th May 2014

• Wheels India, steel wheel maker for passenger cars and utility vehicles, has reported a 64.11 per cent jump in net profit at Rs 8.78 crore for the fourth quarter ended March 31, 2014.The city-based TVS Group company had reported a net profit of Rs 5.35 crore in the year-ago period.

• JK Tyres on Saturday said the company would double its capacity at its greenfield plant at Chennai by the end of this year.The work for the capacity expansion at Chennai plant was going on and likely to start production from November- December, said P Pawan Darshan, General Manager (Sales), North and East India of the company said.

• Hyundai Motor Co is recalling more than 140,000 Tucson crossover utility vehicles because the air bag assembly may come loose from its mounting on the steering wheel, according to documents filed with U.S. auto safety regulators.

• Tata Motors Engineering Research Centre (ERC) has developed a new 3.0-litre, four-cylinder common-rail diesel engine.  This engine was designed with emphasis on weight reduction, compliance with emission norms and better fuel efficiency according to the source.

• Skoda India will fit the Skoda Rapid diesel with a 7-speed DSG gearbox and launch it in October 2014. For this, it will opt for a 1.5-liter diesel engine to power the sedan. A report on the Economic Times states that the Rapid will move closer to its cousin in VW – the Vento – and offer a 1.2-liter petrol engine as well.
• The US car safety regulator imposed a record 35 million USD fine on General Motors today for its slow efforts to report faulty ignitions in its cars that contributed to at least 13 deaths.

• Maruti Suzuki will launch the CNG variant of the Maruti Celerio next month, adding to the Alto 800, Wagon R, Eeco and the Ertiga.

• Mr. Sumit Mazumder, Vice Chairman & Managing Director of TIL Ltd., has been elected President-designate of the Confederation of Indian Industry (CII) for 2014-15.Mr. Mazumder is also the Executive Chairman of Tractors India Pvt. Ltd. (TIPL) which is a distributor for Caterpillar of the US in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.

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