Automotive Updates - 25th March 2015

• Mahindra & Mahindra Ltd., India’s largest maker of sport-utility vehicles, is in talks to buy Italian auto design and engineering company Pininfarina SpA, according to people familiar with the matter. Mahindra is closing in on the purchase of the company that designed the Ferrari Testarossa after weeks of talks, said the people, who asked not to be identified because the discussions are private. Negotiations are continuing and could still fall apart, the people said. Pininfarina’s shares have risen 28% this year, valuing the company at €121 million ($133 million).Read more at: http://www.livemint.com/Companies/XYHCiiVooRf3mekJXeJzPL/Mahindra-said-to-be-in-talks-to-buy-Ferraridesigner-Pininfa.html?utm_source=copy

• Auto major Tata Motors fixed the issue prices of two different types of shares at Rs 450 and Rs 271 per scrip for its proposed Rs 7,500 crore rights issue. This will be Tata Motors' biggest ever rights offering and the country's third-biggest after State Bank of India and Tata Steel.State Bank of India, the country's largest bank, raised Rs 16,736 crore in the middle of the financial crisis of 2008 but the principal shareholder, the government of India, had anchored the issue as its main promoter. Tata Steel, another Tata Sons group firm, raised Rs 9,134 crore soon after acquiring UK steel maker Corus Group in 2007. (Etauto.com)

• In 2015, Bosch plans to recruit 12,000 trained graduates worldwide. In addition to a number of prospects for mechanical and electrical engineers, the chances for graduates with an IT background are especially favorable. “We are increasing the number associates hired for software design and development. As connectivity expands in every business sector, from Mobility Solutions to Industrial Technology, the importance of software does too,” says Christoph Kübel, member of the board of management and director of industrial relations at Robert Bosch GmbH. The number of associates needed for software design and development will continue to rise in the future. - See more at: http://www.autocarpro.in/news-international/bosch-recruit-graduates-bulk-india-8036#sthash.HZILSLFe.dpuf

•  Leading tractor manufacturer New Holland Agriculture has been awarded the customer satisfaction award by JD Power Asia Pacific based on the responses from 4,789 owners in India who made the purchases between July 2012 and November 2013."New Holland ranked highest in the India Tractor Customer Service Index with a score of 794 -- above the industry average of 774," the company said, adding this parameter measures customer satisfaction with the after sales process at authorized service centres.(Etauto.com)

• Audi, the German luxury carmaker, is set to announce a major investment for the Indian market in 3-4 months to expand business and double sales to 20,000 units by 2018."An internal discussion is going on to invest in India for the expansion of our capacities. The detailed announcement will be made in the next three to four months," Audi India Head Joe King told PTI in Guwahati.When asked about the quantum of investment, he refused to divulge, but said that "this is going to be a major investment by the company".(businesstoday)

• In line with its ‘15 in 15’ India market growth plan that will see it launching 15 new products and opening 15 new outlets during 2015, Mercedes-Benz India today rolled out two new models – the new CLS Class Coupe (CLS 250 CDI) and the E-Class Cabriolet (E 400 cabriolet). Priced at Rs 78.50 lakh for the E400 Cabriolet and Rs 76.50 lakh for the CLS 250 CDI Coupe (ex-showroom Delhi), the carmaker has upped its ante on its product offensive. Both cars are available as CBU, which explains the steep pricing. - See more at: http://www.autocarpro.in/news-national/mercedes-benz-india-rolls-models-plan-8039#sthash.9mWMScCW.dpuf