Automotive Updates - 23rd June 2014

• Bajaj is believed to have already produced 2,000-2,500 units of the RE60 quadricycle at its Waluj plant in Aurangabad. A source told the Autocar Professional that Bajaj has started producing the quadricycle in both left-hand drive and right-hand drive configurations, and is carrying out final stages of validation before exporting it.

•  India produced just a little over seven million tonnes (MT) of steel, accounting for five per cent of the global output of 141 MT in May, World Steel Association (WSA) has said.India's production growth rate of 1.6 per cent in May over the same month last year was also lower as compared to the global average of 2.2 per cent.

•  Japanese automakers on Monday recalled nearly three million vehicles worldwide over an airbag defect that could pose a fire risk.Honda said it recalled about 2,033,000 vehicles which were produced between August 2000 and December 2005, including more than one million in North America and 668,000 in Japan.Two other automakers -- Mazda and Nissan -- also recalled hundreds of thousands of vehicles over the same problem, which was also responsible for earlier recalls by Toyota.

• The Tata Nexon crossover concept shown at the Auto Expo this year is 21 months away from its market launch in India. The concept previewed a sub-4 meter length crossover that would rival the likes of the Ford EcoSport and the upcoming Mahindra S101.

• South Korea's SK Energy Co Ltd and Hyundai Oilbank Co Ltd have won tenders for a one-year supply of gasoline and diesel to stations that undercut pump prices, said an official at Korea National Oil Corp (KNOC), one of two firms that had invited the tenders.

• KTM exited the Brazilian market in 2012 when its partnership with local distributor Izzo Group ended. The Bajaj-owned Austrian two wheeler maker is now planning to re-enter Latin America’s largest two wheeler market with a new partner in the form of Dafra Motos. Dafra Motos also partners with BMW, Ducati and MV Agusta brands in Brazil.

• With the June 30 deadline fast approaching for expiry of reduced excise rate, car makers want the government to extend it further even as they adopt a wait and watch policy before considering price hikes. "We certainly hope that the government of India will give us an opportunity to continue keeping our customers happy," Nissan Motor India, VP sales and marketing, Ajay Raghuvanshi told PTI. 

• image from autocarindia.com