Automotive Updates - 9th and 10th August 2014

• Mahindra & Mahindra Ltd, the world's biggest tractor maker by volume, has cut its forecast for demand in its home market of India, partly due to delayed monsoon rains. The automaker said on Friday it now expected the tractor sector in India, where it is the dominant player, to grow by 5 per cent in the financial year that started April 1, down from its previous forecast of 8 per cent.(business today)

• Ruia Group chairman Pawan Ruia today expressed hope that his company Dunlop would reopen soon before Durga Pujas as meetings with the concerned parties have been "very positive". "I was hoping that Dunlop will open before Jessop. There have been three meetings that were very positive. The government too is very eager to open Dunlop. The ice has melted in those meetings. It might be that before Durga Pujas Dunlop will reopen too," Ruia said at the sidelines of the reopening of Jessop factory. (ETauto.com)

• Talking to ET Auto, Mr. Prasan Firodia, MD Force Motors, stated that the company will invest INR 1,000 cr over the course of 4 years in new product development, technology advancement and a dedicated engine plant for BMW in Chennai. This investment is in addition to the INR 1,000 cr announced in 2012.He also added that Force Motors is currently working on a “completely new van” which will be ready in a few years. Force Motors had been testing the old Mercedes Vito/Viano people carrier but it remains to be seen what the new product is. The new model in question is expected to join the popular Traveller series of vans.(indianautoblogs,com)

• Maruti Suzuki has stopped production of its aging sedan offering, the SX4. It will soon be replaced by the upcoming Ciaz, which was previewed at the 2014 Auto Expo as a concept. The SX4, at the fag end of its innings could only manage less than 250 cars on an average, every month in 2014. Newer and better equipped competition in the form of the Honda City, The Hyundai Verna and compact SUV’s like the Ford Ecosport and the Renault Duster made a huge dent in the sales figures of Maruti’s mid-size offering.(motoroid.com)

• Tata Steel Ltd has shut down one of its ferro alloys plants in Odisha due to a raw material shortage linked to the suspension of a mining license, the company said in a statement late on Friday. Tata Steel sourced ore for the 50,000 tonne-per-year Bamnipal plant from its captive chromite mine in Sukinda, operations of which were suspended in May.(livemint.com)

• A new Hero MotoCorp motorcycle plant in Argentina is underway. Financial Express reports Hero MotoCorp VP Pawan Munjal, and VP Global Business Deepak Mokashi have visited Argentina and met with Debora Giorgi, Argentina’s Minister for Industry. This new plant will not only benefit the country but the entire region in a big way. However no details on investment and when the plant will be completed have been revealed.(rushlane.com)

• After 30 years of selling cars and revolutionising personal transportation in India, Maruti Suzuki is embarking on its next phase of journey with an eye on selling three million vehicles annually.Spelling out the road map for the next 30 years -- Maruti 2.0 -- Maruti Suzuki India (MSI) Chairman RC Bhargava said the company would be at the forefront of the efforts to make India a significant player in the global market place. (economicstimes.com)

• Focusing on its three core brands, Kolbenschmidt, Pierburg and Motorservice, Rheinmetall affiliate KSPG Group is launching a new brand identity starting from July. Rolled out in 2011, the corporate logo acts as an umbrella or roof covering the three traditional brands with which KSPG, whose history goes back over a century, will in future ensure a uniform and group-wide presentation to its customers.(motorindiaonline.com)

• Mahindra & Mahindra, which announced unaudited financial results for Q1 of the current fiscal year today, said gross revenues for M&M and its 100 percent arm, Mahindra Vehicle Manufacturers, was Rs 10,823.3 crore as against Rs 10,942.7 crore in Q1 of the previous year. Net profits before tax for Q1 were Rs 1202.1 crore as against Rs 1138.6 crore in Q1 of the previous year. After providing for tax, the same was Rs 896.4 crore as against Rs 859.8 crore in Q1 of the previous year – a growth of 4.3 percent. The operating margins for the current quarter were 14.3 percent as compared to 13.8 percent in Q1 of the previous year. (Autocarpro.in)

• Volkswagen of America is recalling 151,389 Tiguan SUVs due to the possibility of stalling.No accidents or injuries have been reported. The problem is with fuel pumps on some models from 2009 to 2014. Gas bubbles may form in the fuel system when winterized fuel is used in warmer months or warmer areas, which could lead to the car stalling.(ETauto.com)

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•  images from motoroids.com and wikipedia