- Japanese auto major Toyota, which clocked a net profit Rs 529 crore in FY15 after being in the red for the previous two years, is not looking at buying out its partner Kirloskar Group that owns 11 per cent in the joint venture."We have a long-term relationship with Kirloskar and we are happy with the present arrangement. Neither we are planning to increase our stake to 100 per cent nor they are looking at exiting the partnership," Toyota Kirloskar Motor managing director Naomi Ishii, who turned around the company after taking over in January 2014, told PTI here in an interaction.(Etauto)
- Troubles are building up at Amtek Auto Ltd, with bondholders of its subsidiary Castex Technologies Ltd looking to approach UK courts alleging manipulation of the company’s stock price. The bondholders say the stock price was pushed up to force a conversion of foreign currency convertible bonds (FCCBs) into equity shares.Last week, shares of Amtek Auto fell 57% in response to the stand-off between the company and its bondholders and on fears of a liquidity crunch at the Delhi-based auto component firm. (livemint)
- The Ecosport compact SUV has been frontrunner for American automaker Ford in India. The carmaker has reportedly successfully sold over 2,00,000 Ecosport units in the country. To mark this special occasion, the carmaker has initiated the Ecosport 2,00,000 Fest that began on 21st August till 23rd August, 2015. Speaking more on the occasion, Rahul Gautam, the vice president of Ford India’s marketing division, said, “Ford EcoSport, since its launch, has been appreciated for its stunning design, innovative technology and compelling value proposition and we would like to thank our customers for their patronage.(cartrade)
- Country's largest carmaker Maruti Suzuki India has hiked prices of all its products by up to Rs 9,000, except that of newly launched premium crossover S-Cross, citing changes in dealer margin."The average hike in the ex-showroom prices, with effect from August 11, across models ranges from Rs 3,000 to Rs 9,000", a Maruti Suzuki India (MSI) spokesperson said.(business today)
- Royal Enfield has announced its entry into the Indonesian market at the Gaikindo Indonesia International Auto Show (GIIAS 2015) which is underway from August 20-30. The foray into Indonesia, the third largest two- wheeler market in the world after China and India, is part of the company's growth strategy and focuses on its game-plan to expand into the global midsized motorcycle segment (250-750cc). Royal Enfield’s display at GIIAS 2015 includes the Bullet 500cc, Classic 500cc and Classic Chrome, and the Continental GT (535cc) cafe racer. Also on show is protective riding gear and the recently launched Despatch Rider apparel and accessories collection. - See more at: http://www.autocarpro.in/news-national/royal-enfield-ride-indonesian-market-sales-begin-soon-9123#sthash.XBdPGRce.dpuf
- Suzuki has unveiled the facelifted Ertiga MPV in Indonesia. The car gets some cosmetic changes and additional features.At the front, the Ertiga gets a wide grille with horizontal chrome slats, a restyled front bumper with horizontal slats for the air dam and redesigned fog lamp housings with chrome inserts. At the rear, the car gets a redesigned bumper with reflectors at both ends but is loses the centrally-positioned fog lamp. There is also a thick chrome strip above the number plate housing with the letters Ertiga embossed on it and reflectors at both ends. The Ertiga also gets a new set of alloy wheels.(team-bhp)
- There was a time when Hero Honda bikes ruled the Indian streets. The mileage that Splendor shelled and performance that CBZ offered made headlines every now and then. The legacy that the duo created has now been taken over by the then non existing rivals. But Hero seems to have come a long way since the two giants parted ways in the year 2010 and seems hell bent on giving its competitors a run for their money. Both the motorcycle makers are currently engrossed in R&D targeted towards capturing the Indian Market that offers a potential billion consumers. In one of the major moves and another attempt aimed at providing quality motor bikes Hero has invested a whooping amount of Rs 723 crores in the name of its Research and Development wing. The amount is six times what was spent in the year 2013-14. The major part of this investment cum expenditure has been used towards the still under construction R&D facility being developed at Jaipur, Rajasthan. The amount sums up for 3 percent of the company’s income of Rs 27,585 crores for the financial year 2014-15. Bajaj in comparison to Hero has spent roughly 1.29 percent of its total income on R&D. (cartrade)
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