Automotive Updates - 24th December 2014

•  As auto makers anxiously watch if reduced excise duty regime would be extended to next year, Finance MinisterArun Jaitley today said they would have to wait till December 31."Wait till December 31," Finance Minister Arun Jaitley said when asked if government would be extending the reduced excise duty incentive expiring on December 31. (ETauto.com)

• PPG Industries has announced that it has entered into exclusive negotiations with the Axson Group to acquire Revocoat, a global supplier of sealants, adhesives and damper products for the automotive industry. PPG expects the transaction to close in the first quarter 2015, following the French works council consultation process, regulatory approvals and other customary closing conditions. Financial terms were not disclosed. Revocoat, headquartered in France, is part of the Axson Group, a world leader in high-performance operational polymer formulation. Revocoat employs more than 500 people and operates seven manufacturing facilities and one research and development center. - See more at: http://www.autocarpro.in/news-international/ppg-looks-acquire-automotive-specialty-materials-manufacturer-revocoat-7194#sthash.KRnRt7PE.dpuf

• Tata Motors recently announced the commencement of bookings for its upcoming hatchback, the Bolt. Now, according to Autocar India, the car is slated for a launch on January 20, 2015. While it was clear that the car will be launched in early 2015, but the exact date should certainly give confidence to all those who are yet to zero in on the Bolt to firm up their decision.Read more: http://indianautosblog.com/2014/12/tata-bolt-launch-on-january-20-2015-162779#ixzz3MqaY15KO 

• Tata Motors Limited has bagged the second prize in the automobile sector for 'National Energy Conservation Award' for 2014. The company's Dharwad plant was rewarded for its initiatives taken to conserve energy and reduce specific energy consumption.The Dharwad Plant has installed several advanced technologies that includes robotics, automated line with automated guided vehicles and ultramodern manufacturing systems and practices, and is in line with world-class manufacturing practices. (carwale.com)

• The TVS-BMW partnership will soon reap the fruit as the two companies start testing their jointly developed motorcycle for the Indian market. Zuaba.com, India’s import and export data tracking web portal suggests that the duo has already started importing various parts of its jointly developed motorcycle, code named, the K03.(rushlane.com)

•  Country' largest car makerMaruti Suzuki India is set for a record sales in 2014 at over 11.48 lakh units driven by growth across segments but it expressed concerns that a hike in excise duty could hurt the overall auto industry. The company is awaiting a clarity on the amendment to the Company's Act before going ahead with the minority shareholders' voting on its plans to let parentSuzuki Motor Corp own and invest at the upcoming Gujarat plant. (ETauto.com)

• autocar Professional honours a business leader who has led his company to new heights as its ‘Man of the Year’. For the strong progress made by Honda’s two-wheeler and four-wheeler businesses in India, Yoshiyuki Matsumoto, president and CEO of Honda Motor India, is our Man of the Year 2014. A Honda veteran, Matsumoto feels global companies like Honda should be “quick and agile to develop products that meet and exceed customer expectations.” - See more at: http://www.autocarpro.in/news-national/yoshiyuki-matsumoto-autocar-professional-2014-7191#sthash.J1jcaRhP.dpuf

•