Automotive Updates - 20th august 2014

• Mahindra & Mahindra (M&M), the global tractor market leader in terms of volume, has had its first major launch in 14 years with the Arjun Novo today in Chennai. The Novo, which means ‘to renew’ or ‘to reinvent’ continues Mahindra's trend of naming products that end with an 'O'. The tractor, available in two engine variants (52 hp and 57 hp) is targeted at strengthening Mahindra's position in the above-48 hp tractor segment, where it has a 40 percent market share. (Autocarpro.in)

• The TVS Scooty Zest 110 automatic scooter which was unveiled at the Auto Expo in February has been launched in India at INR 42,300 (ex-showroom Delhi).(indianautoblogs.com)

• With an eye on increasing market share in India, Korean auto major Hyundai is gearing up to enter the compact SUV and multi-purpose vehicle segments from next year.Buoyed by strong response to its newly launched hatchback Elite i20 and success of compact sedan Xcent, the company's Indian arm Hyundai Motor India Ltd (HMIL) is also looking forward to a strong festive season sales.(finanacialexpress.com)

• Terra Motors Corporation, Japan’s leading electric two- and three-wheeler manufacturer, plans to introduce an electric three-wheeler in the Indian market around October this year. It is believed the company will undertake contract manufacturing for the product with a Rajkot-based manufacturer. Terra Motors is looking to price the electric three-wheeler very competitively against conventional three-wheelers and is banking on offering low operating costs. The existing electric three-wheeler market in India is pegged at 100,000 units.(autocarpro.in)

• Mahindra has tried their best to keep their 110 cc scooter under cover. However, it has been spied several times on the road during test drives. Though it has been internally known as G101, the model would be called Zesto. As of now, three colours have been confirmed for the 110 cc scooter – red, white and black.(cartrade.com)

•  In an organisational re-structuring Mahindra & Mahindra recently elevated senior vice president sales & customer care (automotive) Arun Malhotra as Chief of International sales and marketing for automotive and farm sector. Vijay Nakra has taken over as the new senior vice president, sales and customer care for automotive division. He was previously vice president sales. (ETauto.com)

• Mahindra Logistics Ltd (MLL), a subsidiary of Mahindra & Mahindra, has announced that it has acquired a majority stake in Lords Freight (India). This acquisition will provide impetus to Mahindra Logistics’ expansion plans. (autoarpro.in)

• TVS Motor Company, the Chennai-based two-wheeler manufacturer is looking forward to capture the third position in the nation’s ever increasing two-wheeler market. Riding high on back to back launches in the running financial year, the company expects to make a breakthrough in the list of top three manufacturers in the country. In this context, the company has the scooter Zest in the pipeline and renewed variants of the Victor and Apache models. Currently, it is behind Hero MotoCorp, Honda Motorcycle and Scooter India and Bajaj Auto in the existing two-wheeler market.(cartrade.com)

• Bajaj Auto Limited reached a settlement with unionized workers of Vishwakalyan Kamgar Sanghatana (VKS) at the company’s plant in Chakan near Pune, thus bringing to an end a long standing unrest between management and union of Bajaj Auto Limited.(rushlane.com)

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