- The Indian automotive industry has given the thumbs up to
the Union Budget 2014-15 announced by finance minister Arun Jaitley today.
Industry captains said that within the existing limitations of a tight fiscal
situation and the need to keep the current deficit in check, the Budget more
than addresses some of the key issues of the economy. Auto analysts believe
that sales volume of the automobile companies will get a boost after finance
minister left more money in hands of salaried employees
- The Government of India have allocated Rs 37,880 crore for
adding 8,500 KMs of new roads in this Financial Year," Union Finance
Minister Arun Jaitley said in the budget speech.
- BorgWarner’s president and CEO James R Verrier has been given the EY
Entrepreneur Of The Year 2014 award in the automotive category in the
Michigan and Northwest Ohio region during a ceremony held recently in Detroit.
- In a major relief to domestic stainless steel
industry, reeling under severe under- utilisation of capacity, the government
today increased import duty on flat-rolled products from 5 per cent to 7.5 per
cent.
- GM India is in the process of ramping up its export
operations to improve the capacity utilization factor and increase the quantum
of business. The Chevrolet
Beat global hatchback (called as the Spark elsewhere) has been chosen
to spearhead this move.
- India's largest bike-maker Hero MotoCorp had recently approached the Karnataka
Government with Rs. 1,450 Crore set-up project in Mummigatti near Dharwad,
Northern Karnataka. The proposed plan will be spread across 300 acres and hold
a production capacity of about 1.8 million two-wheelers. Chief Minister
Siddaramaiah, said, “The company officials met the government on July 5 to
discuss their wish list. They demanded some incentives and facilities at the
site and the cabinet sub-committee is looking into it.
- On the sidelines of the Tata Zest media
drive program, Tata officials confirmed to Indian Autos Blog that the compact
sedan will be launched in August. The test drive report is embargoed till next
Monday and therefore in this story we will lay out the technical specifications
and features that we are already aware of.
- Piaggio Vehicles, the wholly owned Indian subsidiary of the Italian Piaggio
Group, has launched the Vespa Esclusivo in the domestic market. Only 1,000
units of this model, built on the Vespa VX, are to be made with each to be
individually badged. The scooter comes with new body decals and graphics, black
and silver alloy combination wheels and dual-coloured seats.
- Harley-Davidson is recalling 66,421 Touring and CVO Touring
motorcycles from the 2014 model year because their front wheels can lock up
without warning.
- Honda Motor Co is recalling 175,356 vehicles in Japan
including the Fit hybrid subcompact due to a defect in the vehicles' engine
control units, the car maker said on Thursday.
- Volkswagen AG is on the 2014 Fortune Global 500 list which
was revealed earlier this week. The eight largest company in the world and No.
1 automotive company by way of revenue as per Fortune Global 500, Volkswagen
surpassed Toyota in the latest list. For 2013, VW was ranked 9th, and Toyota
was ranked 8th. For 2014, its vice versa.
- Slated to be launched somewhere around the first week of August, the 2014 Punto
has been christened as the ‘Punto Evo’ and gets comprehensive cosmetic as well
as interior upgrades after a long time. The 2014 Fiat Punto Evo has started arriving at
dealerships.
Image from the hindu website
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