Automotive Updates - 7th July 2014

• Hero MotoCorp has marked its entry in the Colombian market with the setting up of a fully owned subsidiary, HMCL Colombia SAS. Construction has commenced at the plant at Villa Rica, Cauca, with the facility slated to be operational by mid-2015. Initial manufacturing capacity will be 78,000 units per annum, going up to 150,000 units in phase 2. Project cost is estimated at US$ 70 million (Rs 418 crore) with $ 38 million (Rs 227 crore) in capex and the rest as working capital over the next three years.

• General Motors India today launched the Chevrolet Beat and SAIL Hatchback Manchester United Limited Editions.

• The Volkswagen Group is to invest about two billion euros (Rs 16,256 crore) in the expansion of production capacities in China. This investment in two new plants is part of a larger plan to invest a total of €18.2 billion (147,929 crore) in new plants and products between 2014 and 2018. This translates to an investment of Rs 100 crore a day!

• Hyundai India have launched an LPG variant on the Grand i10 hatchback. The Grand i10 LPG is available in a single Magna trim, but gets options of solid and metallic colors.

• Buying a hybrid or an electric car may soon fetch you a subsidy from the government, which is readying a Rs 14,000-crore scheme to push green vehicles.The subsidy will be a proportion of the difference between the price of a car running on fossil fuel and that of a green vehicle, said sources involved with the discussions. 

• Automotive lubricant maker Castrol India Limited has joined hands with British motorcycle manufacturer Triumph Motorcycles for a partnership in India. As per the agreement, Castrol India will be the lubricant supplier for Triumph Motorcycles and will supply the fully synthetic, Castrol Power1 Racing engine oil to Triumph dealerships throughout India.

• With year-on-year sales growth of 11.4 percent, Audi AG has achieved the best first half year in its history. The German carmaker sold around 869,350 cars globally between January-June 2014. In June alone, it delivered 155,450 cars worldwide, exceeding the figure in the same period last year by 10.8 percent. Sales were particularly strong in North America, up by 21.2 percent year-on-year

• Nissan estimated that Datsun would sell about 5,000 units/month of the hatchback. Production was aligned accordingly to 60,000 units/annum. However, the car and the brand have fallen short of the company’s expectations. Speaking to the Economic Times, Andy Palmer, Chief Planning Officer at Nissan, said that Datsun has not “lived up to internal expectations.” The executive says that lack of dealerships have limited the Go’s sales in the country.

• Automotive Component Manufacturers Association (ACMA), led 20 companies to participate in ‘Tech Expo’ for Indian auto component companies in the USA.

• In June, Puducherry and Solapur became two new cities to opt for Volvo 8400 city buses, while Kolkata augmented its existing fleet of Volvo city buses. With this, the presence of Volvo in the high-performance city bus segment in India expands to 15 cities. 

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• image from indian express .com 

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