Automotive Update - 26th October 2015

• Daimler India Commercial Vehicles (DICV), that is cooperating with Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC) under the umbrella of Daimler Trucks Asia, launched its DICV-made Fuso trucks in South Africa, making it the 14th  market since the start of export in May 2013. To start with, DICV will export the light to medium-duty trucks and set the pace for more ‘built in India’ products in the future. Under the Asian strategy, there are synergies between Kawasaki and the Oragadam plant in optimising research activities, product development and sourcing thereby providing reliable, efficient and quality products. - See more at: http://www.autocarpro.in/news-national/dicv-launches-oragadam-fuso-trucks-south-africa-9551#sthash.TKTt2pcX.dpuf

• Demand for tractors and motorcycles have collapsed in rural India, and companies are seeking government support for the troubled farm sector that sustains about three-fifths of the nation’s population. Farm equipment and motorcycle makers, meanwhile, are redrawing their investment plans and slashing costs in response.Tractor sales, a barometer of the state of India’s rural economy, declined 20% in the first half of the current fiscal, according to data compiled by lobby group Tractor Manufacturers Association (TMA).(livemint)

• Toyota was the world's top-selling automaker for the first nine months of this year, selling nearly 7.5 million vehicles, and overtaking Volkswagen which was in the No. 1 spot for the half year.Toyota Motor Corp.'s global sales for the first three quarters totaled 7.498 million vehicles, down 1.5 per cent from the same period the previous year, according to numbers released Monday.(businesstoday)

•  Escorts Limited, a tractor major, and Rajkot based Amul Group, on Monday rolled out the 1001st Steeltrac tractor to commemorate their newly formed joint venture earlier this year.Escorts had joined hands with Amul Industries in 2012 for development & distribution of Steeltrac, a specialty tractor and elevated their relationship to that of strategic partnership few months ago. Also, keys were handed out to a set of delighted customers of Steeltrac on the occasion. (Etauto)

• Maruti Suzuki brought back its Baleno badge in a new hatchback avatar to take on arch rival Hyundai's i20, the segment leader of premium small cars, amid the buoyant festive season, when car sales peak in the Indian market.The new Baleno would be priced Rs 4.99 lakh for the entry level up to Rs 8.11 lakh for the top end. Its available in both diesel and petrol variants with the engines burrowed from the highly successful Swift hatchback but delivers higher mileage due to lighter weight.(businesstoday)

• Tire and auto service company Bridgestone is buying auto parts and repair company Pep Boys in a deal that will help it gain a more dominant position.The offer involves $15 per share in cash and marks a 21 percent premium to Pep Boys closing price on Friday. The companies valued the deal at $835 million.(ETauto)

• Japanese auto firm Honda is recalling 3,879 units of a particular variant of its popular sedan City in India which were manufactured from February- November 2014 to update a software for transmission system as part of a global exercise.The company 's Indian arm, Honda Cars India Ltd (HCIL) said the CVT variants of Honda City produced during the period are being recalled to update the software that manages the continuously variable transmission (CVT).(businesstoday)