Automotive Update - 10th November 2014

•  India's car sales are set to fall below the earlier growth target for FY15 set by theSociety of Indian Automobile Manufacturers(SIAM). Car sales growth this fiscal year is likely to be below 5 per cent, Sugato Sen, deputy director-general, SIAM, told reporters on Monday. In August, the industry body said it expected domestic car sales to grow between 5 and 10 per cent, helped by an improved sentiment after the Narendra Modi government took office in May following a victory in the general elections. (ETauto.com)

• According to a latest report, 30 per cent of the cars sold in India will be equipped with AMT (automated manual transmission). Currently, only one to two per cent of passenger cars sold in India are AMT cars.It was at the start of this year when Maruti Suzuki launched the Celerio with the AMT gearbox, making it the first car to be equipped with AMT. It was followed by Tata's new compact sedan, the Zest, and the recent launch of the facelifted Maruti Suzuki Alto K10. Both the cars are also available with the AMT technology, the latter, at present, being the most affordable AMT car in the country .(carwale.com)

• Hindustan Motors Ltd (HM) has announced a voluntary retirement scheme (VRS) for all 2,200-odd permanent workers at its Uttarpara factory near Kolkata and communicated its offer in an unprecedented manner, by posting a notice at the gate of its now moth-balled production facility for the Ambassador car. HM is offering as compensation Rs100,000 in cash plus statutory dues to each of its workers.(livemint.com)

image from livemint.com

• Magneti Marelli, the component arm of Italian carmaker Fiat SpA, is increasing its investments and level of commitment in India. As part of this expansion, it is setting up a new plant for lighting at Sanand in Gujarat to meet the requirements of two important customers – Maruti Suzuki and Ford India – which are in the process of establishing their manufacturing footprint in the state. “This is the first time that we are entering Gujarat as Magneti Marelli does not have a presence in the state so far. We will cater to carmakers who are establishing their plants there for instance Maruti Suzuki, and also Ford which will have a significant four-wheeler presence in the state,” Saju Mookken, country manager of Magneti Marelli India (MMI), told Autocar Professional in an exclusive interview. (Autocarpro.in)

• Italian performance car manufacturers, Ferrari and Maserati (both owned by Fiat-Chrysler Automobiles although Ferrari will be spun off) will re-enter India next year, reports the Economic Times. Maserati is currently in the process of appointing an eight-member team to run its national sales company, after which it will decide on dealerships, and hopefully start operations by the second half of 2015.Ferrari on the other hand will manage its Indian operations from Dubai. According to the publication, a “high-level” team from the company came to India last month to finalize its dealer partners.(indianautoblogs.com)

• Churning up a profitable year in India with the stupendous success of the Maruti Suzuki Celerio AMT, Fiat owned Magneti Marelli is eyeing the country as one of its critical markets and also plans to offer a range of other mobility solutions to various manufacturers. In a recent interview, Saju Mookken, Managing Director and Country Manager, Magneti Marelli India confirmed that the Italian company will introduce its low-cost fuel injection technology for two-wheelers that will debut in Hero MotoCorp’s range of two-wheelers.Mr. Sokken stated that the affordable Magneti Marelli fuel injection technology will be available on a Hero motorcycle that will be ready by early 2015.(motorbeam.com)

• Amtek Global Technologies, a unit of Amtek Auto, has secured a long-term loan of 235 million euro (over Rs 1,800 crore) from global investment firmKohlberg Kravis Roberts (KKR), to replace its existing short- term loan. As part of the definitive agreement inked between the two firms, KKR will provideAmtek Global Technologies (AGT) 235 million euro of long-term, flexible financing to replace its existing bridge loan and consolidate all of the company's existing debt. (ETauto.com)

• Travelling almost 24,000 kms in 54 days, Honda Amaze has now found itself a place in the famous Guinness World Records books for making the ‘Longest journey by a car in a single country’.(rushlane.com)