Automotive Updates- 29th January 2014
- Tata Motors intends to utilise Rs 7,500 crore, which
it plans to raise via rights issue, to fund various activities, including
introduction of more than 100 new commercial vehicles over next three years and
passenger vehicles on new modular platform from FY 2016-17. The company,
which is seeking shareholders' approval through a postal ballot for raising
funds up to Rs 7,500 crore through arights issue of ordinary shares, also intends to use
the funds to expand in international markets. (ETauto.com)
- Hinduja group flagship Ashok
Leyland on Thursday posted a net profit of Rs 32.09 crore for the
third quarter ended December 31, primarily on account of buying ahead of the
excise duty hike.The
company had posted a net loss of Rs 167.21 crore for the same period
of previous fiscal.(business today)
- Maharashtra’s industry minister, Subhash Desai has said the
state government wants to roll out a red carpet for investors in the state, and
reduce red tape. He was speaking at last week’s inauguration of Volkswagen’s
engine plant at Chakan. Inaugurating the facility in which Volkswagen has
invested approximately Rs 240 crore, chief minister of Maharashtra Devendra
Fadnavis asked leaders of industry, especially in the passenger car segment, to
get in touch with the government directly. He welcomed Volkswagen’s decision to
further invest in the Chakan area and create many jobs. The minister also said
that land procurement outside of the industrial parks will be made easier, and
that labour laws are being looked into so that so it is a ‘win-win situation”.
- See more at:
http://www.autocarpro.in/news-national/vw-plant-inauguration-maharashtra-promises-red-carpet-treatment-7508#sthash.lcWL7A0j.dpuf
- Suzuki Motor Corp. plans to make automobiles for Africa, the
company’s next big bet, as well as for India at its upcoming Gujarat plant,
executive vice-president Toshihiro Suzuki said on Wednesday as the Japanese
automaker started work on building the factory in Hansalpur, near Ahmedabad.
“This plant will make cars for India and Africa,” said Suzuki, who sits on the
board of Maruti Suzuki India Ltd, and is the son of Suzuki chairman Osamu
Suzuki. “We will be able to decide on the kind of models (to be) exported to
Africa when this plant gets operational.”Read more at: http://www.livemint.com/Companies/5tLDeaVOaP7MjDal4SabpN/Suzukis-Gujarat-plant-to-export-cars-to-Africa.html?utm_source=copy
- Escorts Ltd has launched its Farmtrac Heritage range of
60-75 hp tractors in Tanzania and is bullish of achieving a market share of 10
percent in 2015-16, up from 4.5 percent, with this latest product introduction.
With the new product, Escorts which has had a presence in this East African country
hopes to further consolidate its growth. “We are now taking our presence in
this market to a different level and providing the right tractor solutions to
the farmers. The Heritage range is easy to operate, has classic looks, and is
very fuel efficient,” Rajesh Kumar, VP, International Business, Escorts Agri
Machinery told Autocar Professional. - See more at: http://www.autocarpro.in/news-national/escorts-targets-percent-tractor-market-share-tanzania-7511#sthash.DF8cTT3p.dpuf
- Kawasaki’s product portfolio in the Indian market was again
updated with the entry of its litre-class adventure-tourers, the 2015
Versys1000. Kawasaki claims that the new Versys1000 offers maximum riding
enjoyment across a wide variety of street riding situations and dons
a highly responsive in-Line four engine tuned for flexibility, and a
nimble chassis fitted with dynamic suspension. For 2015, its new styling
package reflects this fun, sporty nature, while a number of updates to the
chassis and a host of new accessory items make it easier for Versys owners to
ride longer and farther.(motoroids.com)
- Launch of Maruti Swift AMT variant is scheduled for November
2015, which is around the Diwali festive season. Once launched, Swift AMT will
become the most affordable diesel AMT car in the country, a title which
currently belongs to Tata Zest sedan.As on date, AMT transmission is seen on
cars like the Tata Zest, Maruti Celerio and Maruti Alto K10. With rise in
traffic on our roads, demand for AMT cars is on the rise. This is because of
its low cost as compared to a conventional automatic transmission.Read more at http://www.rushlane.com/maruti-swift-amt-india-launch-12142767.html#ru2GtMmzx3dQZxqG.99
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