Tuesday, 11 August 2015

Automotive Updates - 10th August 2015

  • Car sales in India rose by a robust 17.5% in July, the ninth consecutive monthly increase, providing new evidence of a turnaround in consumer sentiment that may well presage the start of a new investment cycle in Asia’s third-largest economy.Domestic passenger car sales rose to 162,022 units in July, from 137,922 units last year, according to data from the Society of Indian Automobile Manufacturers (Siam).(livemint)
  • In order to benefit from the cost advantage of manufacturing in India, global engineering solutions provider Sandvik’s Indian subsidiary, Sandvik Asia today announced the setting up of a new manufacturing facility at Chakan in Maharashtra. The new facility, at which construction work began today, would be operational by the end of 2016, said a company release. Sandvik has made an initial investment of $45 million (approximately Rs 275 crore) towards the 53-acre plant and plans to develop the facility further by investing more in a phased manner over the next five years, it said. - See more at: http://www.autocarpro.in/news-national/sandvik-asia-set-manufacturing-base-chakan-9039#sthash.C5kmYFPh.dpuf
  • After a not-so-memorable outing, Erik Buell Racing’s assets, which were remaining, were auctioned at USD 2.25 million (approximately Rs 14.3 crores). The winning bid was carried out by Atlantic Metals Group LLC, amidst potential buyers who had gathered on August 5 to show their interest for the popular American manufacturer. Atlantic now owns all manufacturing and intangible assets of EBR. Incidentally, Hero MotoCorp, which had a 49 per cent minority stake in EBR, bought a certain part of the company’s assets at USD 2.8 million (Rs 17.86 crores). By this move, Hero made a purchase of all the engineering work to enrich the small displacement Hero motorcycles.(cartrade.com)
  • Toyota Kirloskar Motor on Monday launched Etios Xclusive priced in the range of Rs 7.82 lakh (petrol variant) to Rs 8.92 lakh, ex-showroom Delhi.“The all new Etios Xclusive comes with refined style, plush comfort and a host of features that puts it in a league of its own,” the company said in a statement.The price of petrol variant starts from Rs 7.82 lakh, while the diesel variant has been billed at Rs 8.92 lakh.(financial express)
  • Toyota is planning to start auctioning used cars in India. This business will be launched under the Toyota Auction Mart brand in September 2015 in Bengaluru. The company will buy used cars of all makes. These vehicles will be inspected and certified by its engineers and will be rated on 203 parameters to assess their worth and price for the auction. An auction facility has been set up at Bidadi for the same.(team-bhp)
  • Johnson Electric Holdings Ltd said on Tuesday it would buy Ontario-based automotive engine and transmission pumps maker Stackpole International for C$867 million ($659 million) in a bid to increase its business in North America.The Hong Kong-listed electric motor maker said it was buying Stackpole from S.I. Investors, L.P. and would finance the purchase with cash reserves and credit facilities.(ETauto.com)
  • Maruti has been cooking something very big much to everyone’s surprise in our country. The company has been working on what can be termed as a secret project to make it big in the mass market segments. Maruti will be giving the Ciaz sedan battery power. That’s right! Maruti is very close to introducing a hybrid version of the Ciaz in India, which is regarded as an offbeat and innovative move from the ordinary. The Ciaz hybrid will become the first ever hybrid car from the Maruti stable and points towards a very bright future to say the least.To put things into perspective Maruti will not just be giving the popular C-segment sedan an idle-stop-start system, but has actually developed a full hybrid system with a battery and an electric motor. Making things even better, the hybrid model will be powered by the popular 1.3-litre MultiJet diesel engine that is sourced from Fiat.(motorbeam)







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