Automotive Updates - 1st August 2014

• Karnataka has offered a 70% exemption on VAT to Hero Motocorp among other incentives for its proposed two-wheeler venture in Dharwad, The cabinet sub-committee on industrial development headed by chief minister Siddaramaiah met on Thursday to discuss the incentives sought by the company.(Etauto)

• The country’s largest automaker, Maruti Suzuki India Limited (MSIL) has ambitious plans in store for this fiscal. Set to concentrate on launch of new models, extensive marketing plans and greater emphasis on Research and Development, the company has announced capital investment of INR 4,000 crores. (rushlane.com)

• Honda Cars India has halted the production of the City sedan to accommodate the recently launched Mobilio MPV.The City and the Mobilio are manufactured at Honda's plant at Greater Noida. The Mobilio is a new product and the company is trying to establish its presence in the market. But the limited production capacity of its plant could hamper its ability to manufacture enough units to meet demand.(teambhp.com)

• Mahindra silently launches Bolero Camper Gold VX. The Mahindra Bolero Camper Gold has been quietly re-branded as the Bolero Camper Gold VX. The refreshed double cab pickup has been on sale for the last couple of months. (indianautoblogs.com)

• Launched in April 2013, Honda’s compact sedan for India, Amaze is expected to cross 1 lakh unit sales this week. This is a huge milestone for them as none of their cars have touched the milestone 1 lakh figure in such a short period of 15 months.(rushlane.com)

• Reliable sources reveal to IndianAutosBlog.com that the second generation Hyundai i20 will launch in India on August 11.Designed similar to the Grand i10 and Xcent, the premium hatchback adopts a large grille, a V-Shaped crease on the bonnet, and a strong shoulder line. The headlamps are given metallic inserts, and another interesting touch, inferred from spyshots, is the stretched taillight. (indianautoblogs.com)

• Anticipating a turnaround in the domestic auto industry after a prolonged slowdown, Tata Motors have announced a capital expenditure plan of INR 3,500-4,000 crores. The company has two exciting new offerings in the form of Tata Zest and Bolt and plan to enhance their dealership networks on these optimistic predictions. (rushlane.com)

• Maruti will launch a refreshed version of its highly popular Swift hatchback in India in November 2014.The new Swift will be just a mid life refresh as compared to an all new model. As with the current car, the new Swift will be available with petrol, diesel and CNG options. (Etauto)

• The Indian automotive component industry is gunning for new avenues of growth and is eyeing the defence and aviation sectors. Having had to face tough times over the past couple of years, as a result of the market slowdown, this move by some suppliers could also be seen as a hedge against a slowdown although market sentiment has considerably improved since May. According to the the Automotive Component Manufacturers Association of India (ACMA), the turnover of the Indian auto component industry has registered a decline of 2 percent in FY2013-14 to Rs 211,765 crore. The EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins of about 100 listed component vendors are also down by 12-10 percent.(autocarpro.in)

• BMW India have launched a limited edition of their entry-level 1 Series hatchback. The BMW 1 Series M Performance Edition is limited to 111 units pan India, and sales of the car have already started at all dealerships.(indianautoblogs.com)

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• images from sify.com and ndtv.com