Automotive Updates - 30th September 2015

• Country's largest two-wheeler maker Hero MotoCorp, which has leadership position in the motorcycle segment, is now gunning for a dominant play in the fast growing scooter segment where its erstwhile partner Honda rules the roost. As part of its strategy to enhance presence in the scooter vertical,the company on Tuesday unveiled two new models-Maestro Edge and Duet, in the 110 cc category, thereby taking its product line to four vehicles.(businesstoday)

• Automotive OEM component supplier Sandhar Technologies today filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI seeking permission for its IPO. The IPO consists of a fresh issue of equity shares aggregating up to Rs 3,000 million and offer for sale of upto 5,115,456 equity shares by GTI Capital Beta Pvt Ltd at a face value of Rs 10 each at a price band to be decided later. The net proceeds from the Issue will be utilised for the establishment of a new manufacturing facility at Hosur, Tamil Nadu, repayment/pre-payment, in full or part, of certain borrowings and general corporate purposes. - See more at: http://www.autocarpro.in/news-national/sandhar-technologies-lines-ipo-set-plant-tn-9395#sthash.aY7vtxlj.dpuf

• New-vehicle buyers, in the last four years, are increasingly considering larger model like utility vehicles and midsize cars, as againsst small cars, J.D. Power said in its 2015 India Escaped Shopper Study released on Wednesday.In 2015, the percentage of new-vehicle shoppers who considered small cars during their shopping process has decreased to 45 percent from 65 percent in 2012. Concurrently, the percentage of shoppers who consider utility vehicles and midsize cars has increased by 12 percentage points and 7 percentage points, respectively.(Etauto)

• The Suzuki Ignis compact crossover also known as iM-4 has generated a lot of curiosity among automotive enthusiasts across the globe. Suzuki has finally decided to pull off the curtains and unveil the Ignis compact crossover at the upcoming 2015 Tokyo Motor Show. The company shall also showcase the iK-2 concept at the event. The company has not revealed any details on the tech specs yet, and based on anticipation it is likely to get the recently developed SHVS (Smart Hybrid Vehicle by Suzuki) on a 1.2-Litre engine. It is not known if the company may also offer the AWD system on the vehicle. A while ago, there have been reports stating that Suzuki may offer 20 new models across the globe from which only the 'kei-jidosha' would be offered only in Japan and not in any other market.(cartrade)

• Hinduja Group flagship company Ashok Leyland has sold shares worth Rs 165.37 crore of IndusInd Bank."The company has cumulatively sold 18,00,000 equity shares of Rs 10 each held in IndusInd Bank Ltd in the open market during the period between September 25-29 at a net price of Rs 918.76 per share," the Chennai-based company said in a BSE filing.(Etauto)

• The Chevrolet brand in India is all geared up to lure carbuyers who have been awaiting for new SUV options in the country. The company is set to launch the new Trailblazer SUV in India on 21st October, 2015. Post launch it could likely emerge as a strong competitor against the popular Fortuner SUV from Toyota and the Ssanyong Rexton. Under the hood, the Chevrolet Trailblazer shall be powered by 2.8-litre Duramax, four-cylinder engine that would generate about 197Bhp of power. The vehicle shall be offered in only 2-wheel drive with automatic transmission option for now, whereas a 4-Wheel Drive system may be offered later.(cartrade)