Automotive Updates - 18th and 19th January 2016

• India's largest carmaker, Maruti Suzuki India aims to generate 15 per cent of its domestic sales by 2020 from newly launched premium retail chain, Nexa. The chain is expected to have a total of 250 outlets by March 2017.Started in July this year, Nexa has sold around 10 per cent of its cars in the past six months of operations. In 2015, Maruti has sold 45,000 units in Nexa that included 28,000 of the Baleno hatchback and 17,000 S-Cross SUV.(busine-sstoday)

•  Tata Motors Ltd in a statement issued to the stock exchanges on Friday clarified that it continues to be a strong bidder for the government’s light infantry combat vehicles (FICV) programme.On 15 January, Business Standard reported that Tata Motors’ role in developing the FICV for the army had received a jolt, with its leadership hopes dissolved and its very participation in question.The company is one of the contenders for the Rs.50,000 crore project for the armoured vehicles.(livemint)

• Precision Camshafts Ltd (PCL) is all set to go public and has launched an initial public offer to raise Rs 240 crore through a fresh issue of shares along with an offer for sale of 91,50,000 shares, with a face value Rs 10 each. The issue opens on January 27 and closes on January 29. The price band is fixed at Rs 180 to Rs 186 per equity share. The total offer size is between Rs 405-410 crore at the upper and lower limits of the price band. The minimum bid lot is 80 equity shares and thereafter in multiples of 80. The equity shares are proposed to be listed on the NSE and BSE. The net proceeds of the issue would be utilised for setting up a new machine shop for ductile iron camshafts at the export-oriented unit and for general corporate purposes. - See more at: http://www.autocarpro.in/news-national/precision-camshafts-goes-public-floats-ipo-raise-rs-410-crore-10192#sthash.qaShlsZ0.dpuf

• Tata Motors Ltd  has hired former Airbus Group executive Guenter Butschek as its new chief executive, India's largest automaker said on Monday.Butschek, who will start his new job by February 15, replaces Karl Slym, who died two years ago.(businesstoday)

• Maruti Suzuki India’s new premium hatchback, the Baleno, has made a grand entrance if the ‘search-share’ methodology is anything to go by.The car, which was launched in October 2015, has amassed search-share approximately double than the closest contender (Ford EcoSport) and has humbled recent launches.With over 20,000 bookings in the first month of the launch, the Baleno can be a serious contender in its segment as per a report published by Google India in collaboration with Kotak Institutional Equities, a division of Kotak Securities.(Autocarpro)

• We had recently done a story that Datsun will be unveiling the new Go-Cross at the 2016 Auto Expo and the Japanese automaker has confirmed this. It released a teaser image of what can be expected at the 2016 Auto Expo at the Datsun stall.The Go-Cross concept was first showcased at the Tokyo Motor Show last year. This concept is based on the Go Plus, and has got a cosmetic treatment to differentiate it from the MUV. With the rise of the crossover segment, Datsun will not want to miss out on this opportunity.(cartrade)

• Maruti Suzuki India Limited (MSIL) leading automakers in India have hiked prices across range by up to INR 12,000. The company sells a range of vehicles right from the entry level Maruti Suzuki Alto 800 to the S-Cross priced between INR 2.53 lakhs and INR 13.74 lakhs. Rise in prices has been necessary due to increase in input costs, weakening of the rupee against the dollar and rise in other administrative costs as well.(rushlane)

• The Renault Kwid has managed to get over 85,000 bookings in less than four months. The A-segment hatchback enjoys a long waiting period; over 10 months for a few variants.The Kwid with the SUVish looks has worked very well with first-time buyers. The car comes with an excellent entry price, which has helped the French manufacturer get a foothold in the segment that is dominated by Maruti and Hyundai.(cartrade)