Automotive Updates - 24th ,25th and 26th April 2015

• Mahindra and Mahindra (M&M) has denied a report that it plans to increase its stake in South Korean automakerSsangyong Motor Co Ltd.CNBC-TV18 had on Wednesday said the Indian auto major is planning to raise its stake in the company to around 90 per cent to 95 per cent by year-end, without citing where it obtained the information. Putting speculations to rest, a spokesman for Ssangyong Motor on Friday said the Anand Mahindra-led company has denied the report. An official for M&M was not available to comment when contacted by Reuters.M&M currently owns 72.85 per cent in Ssangyong. (businesstoday)

• Passenger car exports from India declined 1.66 per cent to 5,42,082 units in 2014-15 due to challenges in traditional overseas markets like Europe, Sri Lanka and Algeria.The decline was also mainly due to the country's largest car exporter Hyundai Motor India Ltd (HMIL) slipping over 18 per cent in its overseas shipments during the last fiscal.Car exports stood at 5,51,218 units in 2013-14, according to data from the Society of Indian Automobile Manufacturers (SIAM).(ETauto.com)

• Suzuki Hayabusa is soon to be assembled in India, which is likely to reduce its price to Rs. 12 lakh. With this move, the Japanese sports bike maker is looking forward to increase its profit in the Indian market by rolling out affordable models. Notably, the locally assembled models attract fewer taxes, which will help the Japanese company to price its bikes competitively.(cartrade)

• German luxury carmaker Audi on Thursday launched a new version of its sports car Audi TT in India priced at Rs 60.34 lakh (ex-showroom Delhi) as it tries to retain top position in Indian luxury market."This is the first of the five launches that we have planned in the next five months. Despite economic downturn last year we have grown," Audi India Head Joe King told reporters here.Audi plans to launch a total of 10 products in India this year as it looks to fend off stiff competition from rival Mercedes-Benz.(busiesstoday)

• GKN Driveline has become the first global Tier One supplier to design, develop and manufacture a complete all-wheel drive (AWD) system in China. The company supplies the complete AWD to SAIC Motors’ new MG GS compact SUV, as well as the front wheel-drive system. Andrew Reynolds Smith, GKN Automotive Chief Executive Officer, said: “The pace and sophistication of technology development for AWD models means that OEMs are increasingly looking to develop and source complete cutting-edge AWD systems from specialist Tier Ones. As the global leader in driveline technologies, GKN is powerfully positioned to meet this demand. - See more at: http://www.autocarpro.in/news-international/gkn-driveline-development-partner-mg-suv-platform-8279#sthash.iJplYV2h.dpuf

• Cult bike maker Royal Enfield is aggressively readying itself for a global push to attain its target of becoming the top middle weight motorcycle manufacturer in the world dominating the 250-750 cc displacement bike market.The company, which has seen over 50% growth in exports in the last 18 months is looking at its global foray as a "strategic initiative" putting a top management team in place, "furiously adding capacity" to increase production by 50% by end 2015 and developing a fresh line up of products that are all geared up for the global market.(Etauto.com)

• Dentsu Creative Impact Pvt. Ltd, an advertising firm, is presented with a contract to frame the marketing scheme for 13 brands of India’s largest passenger car maker, Maruti Suzuki. Dentsu Indian happens to be a part of the domestic business of Japanese advertisement firm Dentsu. Interestingly, the firm will also handle corporate brand communications of the auto maker. Sources close to the development process revealed that the advertising firm will start working on these developments from mid-2015.Commenting on this development, Dentsu said, “Maruti Suzuki India Ltd has now decided to align the company’s entire portfolio of mass segment brands as well as commercial segment brands with Dentsu Creative Impact.” (cartrade)

• The Porsche and Piech families that head Volkswagen AG, were engaged in a battle involving the future of VW CEO Martin Winterkorn, who was defending himself against efforts to oust him. The feud began after VW Chairman Ferdinand Piech publicly criticised Winterkorn. Backed by his strong support base, most expected Winterkorn to remain safe, but in a move that has shocked the industry, Ferdinand Piech has resigned from his post as VW Chairman.Apart from Piech himself, his wife Ursula has also resigned from the board of directors. Labour leaders, the state of Lower Saxony and Wolfgang Porsche came out in support of Winterkorn and Piech was outvoted, keeping Martin Winterkorn’s position as CEO safe.(teambhp)

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