Automotive Updates - 22nd and 23rd October 2015

•  Singapore-based TML Holdings Pte Ltd, a subsidiary of Tata Motors Ltd that holds or owns securities of companies other than banks, has raised a $600 million loan from six banks, a company spokeswoman said.“The loan will be utilized to refinance its USD (US dollar) and SGD (Singapore dollar)-denominated loans signed in November 2013,” the spokeswoman for Tata Motors said in reply to a Mint questionnaire on Thursday. Those loans were taken to infuse money into the company’s operations.(Livemint)

• Mercedes-Benz India has won the mandate to provide 55 top-of-the-range E250 CDI luxury sedans on lease to the Ministry of External Affairs (MEA), government of India. These high-end luxury sedans will be used by the visiting foreign dignitaries of the ministry comprising head of States, presidents, prime ministers and top diplomats. Commenting on the business order, Roland Folger, managing director and CEO, Mercedes-Benz India, said: “Mercedes-Benz has always been the preferred luxury brand for Head of States across the globe including India, and we are extremely proud of this fact. The impeccable sense of prestige, luxury, safety and comfort offered by a Mercedes-Benz is rarely matched and makes us the obvious choice for such exclusive clientele. - See more at: http://www.autocarpro.in/news-national/mercedes-benz-supply-e250-cdi-sedans-india-ministry-external-affairs-9538#sthash.KGRW8pds.dpuf

•  Mercedes-Benz Indiais looking at expanding local manufacturing, a plan that though depends on getting support such as tax concessions from Maharashtra, the state where its factory is located, new managing director and chief executive Roland Folger said.The first product the luxury car maker launched in India since Folger took over on October 1,GLE-Class, is also the first model that the company is making locally from day one.(Etauto)

• Maruti Suzuki has imported two units of the Wagon R seven-seat MPV (codenamed – YJC) in India for R&D purpose. One of the prototypes is equipped with a 1,197cc, K-Series petrol engine, while the other one houses a 1,248cc, DDiS diesel engine. The Maruti’s Wagon R seven-seat MPV measures 3,700mm in length that makes it 101mm taller than the regular Wagon R. It will be positioned below the Ertiga, and likely to be Rs. 80,000 – Rs. 90,000 pricier than its hatchback sibling.(cartrade)

• Ford Motor Company has received the top score for its work on global water conservation from CDP, the world’s only environmental disclosure agency. Ford is one of eight corporations to receive CDP’s highest honour for its work on water issues, from among more than 400 global companies considered. “The business case for action to improve water security has never been stronger or more urgent,” said Cate Lamb, head of water at CDP. “For this reason we congratulate Ford Motor Company for achieving a position on CDP’s Water A List. Ford is responding to market demand for environmental accountability and at the same time is making progress toward the realiasation of sustainable economies.” - See more at: http://www.autocarpro.in/news-international/ford-cdp-grade-ranking-water-conservation-efforts-9541#sthash.M2CU1gcd.dpuf

•  Honda two wheelerson Friday announced that it has crossed the 3 lakh sales figure in the 10 days of Navartri. Consider this. The Japanese company sold 3,73,169 in the entire month of August 2015. The company said that this is 19 percent jump over its sales in the same 10-day Navaratri period last year. The most sold two-wheelers were the Activa in scooter segment and CB Shine in motorcycle segment. (Etauto)

•  Vicky.in, an auto portal, has announced the launch of 'Independent Inspection and Extended Warranty' for used cars, bikes and scooters.According to a press release, with the rapid growth of sales in used cars/two wheelers, automobile fraud has also become common. Purchasing a car is often one of the most expensive investments Indians make, second only to their home. Many customers become victims of used vehicle fraud and end up paying high repair bills. Dealers often misrepresent facts and hide vehicle history in their paperwork.(ETauto)

images from Rushlane