Automotive Updates - 8th January 2015

• Mahindra Two Wheelers expects to complete the deal by next month to acquire 51 per cent stake in Peugeot Motorcycles , part of the France-based Euro 54 billion PSA Group, said a top official on Thursday.The two-wheeler arm of the Mahindra Group in October 2014 made a binding offer to acquire a 51 per cent stake in PeugeotMotorcycles, one of the oldest motorized two-wheeler manufacturers in the world.The transaction between Mahindra Two Wheelers Ltd and Peugeot Motorcycles would involve infusion of 15 million euro into Peugeot Motorcycles to finance projects implemented through the partnership.( http://businesstoday.intoday.in/)

•  On a comeback trail to regain its position in the Indian car market, Tata Motors is banking on new products such as upcoming compact car Bolt and better customer satisfaction efforts as it eyes double-digit sales growth in the next fiscal. With the company's new compact sedan Zest receiving good response from the market, Tata Motors is upbeat about continuing the sales growth momentum in the coming months keeping in mind the favourable economic conditions. (ETauto.com)

• During his recent visit to Nissan Brazil's headquarters in downtown Rio, Carlos Ghosn, president and CEO of Nissan Motor Co, announced that a new and modern 3-cylinder, 1-litre engine will be made at its powertrain plant located at its Resende Industrial Complex in Rio de Janeiro State. The new engine will require a R$100 million investment. The new 3-cylinder, 1-litre engine will share the assembly line with the 1.6-litre engine, which has been produced since Nissan started operations at its Resende Industrial Complex in April 2014. More than 25 professionals have been hired to assemble the new engine, thus enhancing the powertrain unit's headcount of approximately 200 people. - See more at: http://www.autocarpro.in/news-international/nissan-cyl-litre-engine-brazil-7295#sthash.bVjOdU15.dpuf

•  In the battle among German marquee brands in India's luxury-car market,Audi AG has managed to keep its top position in 2014, though Mercedes-Benz has grown faster and narrowed the gap with the leader. Audi sold 10,851 cars and sport-utility vehicles in India in the past year, up about 8.5% from the previous year. Mercedes-Benz's sales rose more than 13% to 10,201 vehicles. Both had their best year in 2014. BMW has yet to release its sales numbers in India, but is forecast to come in third. (ETauto.com)

• Making a fresh start in 2015, Ford India has pulled the plug on the Figo hatchback that was launched way back in 2010. The Figo has been the most successful car for the American carmaker in India by all accounts. Thanks to the clever positioning in the lucrative hatchback segment, Ford managed to churn out good volumes with the Figo. Not only that, but it was also quite popular amongst car enthusiasts with its well sorted driving dynamics. Now in order to keep up with the competition, Ford is all set to introduce the next generation Figo and hence the discontinuation in production of the current model.Read more at http://www.motorbeam.com/2015/01/cars/ford-figo/ford-stops-figo-production-make-way-2015-model/#1QxW6kG3m5YFh5hM.99

• Volvo Auto India reports annual sales for 2014 at 1202 units, up from 913 units sold in 2013, equating to 31.65% sales growth. In 2012, VAI sold 821 cars. December marked Volvo’s 18th month of consecutive sales increase, with China and Western Europe contributing significantly. Hakan Samuelsson, president and chief executive says 2014 has been a good year, and sales underline strong performance, as the company stays profitable and intends to stay profitable.Read more at http://www.rushlane.com/volvo-auto-india-2014-sales-12141093.html#LCdZtqUlsYEZA6SL.99