Automotive Updates - 6th January 2015

• Parliament is likely to give its nod to the new Motor Vehicles Bill in the next session and the new legislation will transform the sector, making it transparent and corruption-free,Road Transport and Highways MinisterNitin Gadkari said today."I am confident that we will get Parliament nod on the new Bill in the next session. It will transform the entire sector, making it transparent and corruption-free," Gadkari told reporters. (ETauto.com)

• Mahindra & Mahindra (M&M) has rolled out its five millionth (50 lakh) vehicle from the company’s automotive plant in Kandivali, Mumbai. A 4x4 Thar offroader was the landmark vehicle. Dr Pawan Goenka, executive director, M&M, did the honours at a ceremony attended by workers, union representatives and other officials. Mahindra's Auto Sector achieved the four million (40 lakh) vehicle production milestone in 2012 and has crossed the five million mark in just two years. This milestone is the result of combined vehicle production from the company’s six automotive plants at Chakan, Nasik, Haridwar, Zaheerabad, Kandivali and its engine plant in Igatpuri. - See more at: http://www.autocarpro.in/news-national/mahindra-mahindra-rolls-millionth-vehicle-7256#sthash.8SCW04J4.dpuf

• Toyota Kirloskar Motor (TKM) has launched a top-end variant on the Fortuner, and updated the base variants of the Innova MPV. The Toyota Fortuner 4×4 AT is priced between INR 24.17 lakhs to INR 26.49 lakhs, ex-Showroom, New Delhi.Read more: http://indianautosblog.com/2015/01/toyota-fortuner-4x4-at-updated-toyota-innova-launched-163473#ixzz3O42yfk4m 

• Three years after Bajaj Auto Ltd, the world’s largest manufacturer of three-wheelers, unveiled the prototype of the RE60—a low-speed, lightweight four-wheeler meant for intra-city travel—the fate of India’s first quadricycle continues to hang in the balance. Public interest litigations (PIL) filed in the high courts of Delhi, Andhra Pradesh, Tamil Nadu, Karnataka and Gujarat have delayed the quadricycle launch and upset the export plan, Rajiv Bajaj, managing director of Bajaj Auto, said in a phone interview. Read more at: http://www.livemint.com/Companies/ZRbQRt0PC3bQAjSZYyPWrK/PILs-stall-march-of-Bajaj-Autos-quadricycle-in-India-and-ab.html?utm_source=copy

•  Leading manufacturers Maruti Suzuki, Hyundai and General Motors today hiked car prices by up to Rs 1.27 lakh, within days of the government's withdrawal of excise duty concessions. The carmarkers attributed the price hike to increased input costs as also to the withdrawal of the duty sops, which were given in February last year and extended till December 31. (ETauto.com)

• Maruti’s upcoming facility in Gujarat may have not gotten off to the best start. The car maker says that it will make a better business case if parent Suzuki were to invest in thiDespite this, the construction of the plant has already started and according to a report on the Economic Times, the first car to roll out of this plant will be the next generation Maruti Wagon R codenamed ‘YCA’. As reported earlier, the next gen Wagon R will not only benefit from a diesel variant, but will also have a 7-seater option with an added third row bench.Read more: http://indianautosblog.com/2015/01/maruti-wagon-r-7-seater-from-jan-2017-163486#ixzz3O42lLekH 

• In a bid to increase the popularity of fuel cell vehicles (FCVs), Toyota will allow royalty-free use of approximately 5,680 FCV related patent licenses, including pending applications. Toyota announced this plan at the ongoing 2015 Consumer Electronics Show (CES) shortly after showcasing the Mirai FCV.(teambhp.com)

• Daimler India Commercial Vehicles has signed a Memorandum of Understanding (MoU) with Karur Vysya Bank (KVB) to provide commercial vehicle financing packages to customers across the country. Apart from Daimler’s own captive financing brand, BharathBenz Financial, KVB becomes a key financing partner for BharatBenz along with others adding substantial choice and value for customers.(motoroid.com)