Automotie Updates - 12th and 13th January 2015

• India is among the top 3 most attractive destinations for future investments by automotive companies globally over the next five years, according to the 17th annual KPMG International Global Automotive Executive Survey (GAES), released Monday. The survey based on views from around 800 global senior automotive executives (including 74 from India) ranks India third just after China (first) and Germany (second) as the preferred investment destination in the future. This trend is being fuelled by India’s long-term market potential compared to the saturated and stagnant developed markets, narrowing industry margins creating pressure to reduce costs, the availability of skilled labour and improving the manufacturing environment in India. - See more at: http://www.autocarpro.in/news-national/india-nations-global-automotive-investments-future-kpmg-10145#sthash.BJBsbwzo.dpuf

• Fiat Chrysler’s Jeep chief executive Mike Manley on Monday said the SUV brand will announce next month its first sales in India, where volumes will be low for the first few years.Manley had previously said the initial models to be sold to India will be the Grand Cherokee and Wrangler. Sales will start slow, and will reach 1,500 to 2,000 vehicles in 2017, Manley said.First sales will be in the end of the second quarter 2016, he said.(livemint)

•  Homegrown auto major Tata Motors plans to buy back non-convertible debentures (NCDs) aggregating Rs 450 crore ahead of their scheduled maturity as part of its plans to restructure debt.A meeting of the board of directors is scheduled to be held on January 18 to consider and approve buyback of unsecured NCDs of two tranches, the company said in a BSE filing.(ETauto)

• Global automotive cockpit electronics supplier Visteon Corporation has announced it has signed an agreement to acquire AllGo Systems, a developer of embedded multimedia system solutions to global vehicle manufacturers. The agreement, which is subject to customary closing conditions and regulatory approvals, is expected to close during the first quarter of 2016. The terms of the agreement have not been disclosed. Headquartered in Bangalore, AllGo is an infotainment media playback supplier, bringing Linux and Android engineering expertise for automotive applications, including a comprehensive intellectual property (IP)-protected portfolio of in-vehicle-infotainment, media and connectivity solutions for the connected display audio market. - See more at: http://www.autocarpro.in/news-national/visteon-acquire-bangalore-automotive-multimedia-systems-supplier-allgo-systems-10136#sthash.hW7JUaZc.dpuf

• Welcoming the New Year with much funfair, German automaker Mercedes-Benz has finally launched the GLE 450 Coupe in the country for Rs 86.4 lakh. The vehicle is indeed the first one among the 12 new models that is due for launch this year. Based on the GLE SUV that was launched last year, the new model is indeed a crossover-coupe version of the same.(cartrade)

• Jaguar has announced that it will launch the XE sedan in India on February 3, 2016. Bookings for the car are now being accepted at all authorized Jaguar retail outlets in the country.The XE uses an aluminium-intensive monocoque structure. It follows the same design language as other Jaguar sedans.(team-bhp)