Automotive Updates - 20th May 2014

• German auto giant Volkswagen is considering assembling certain engines in India, with key components produced in the country, as it aims to achieve up to 90 per cent localisation within a few years. 

• As per several reports online, the Maruti Celerio CNG has been launched at INR 4.68 lakh (ex-showroom, Delhi) and INR 4.92 lakh (ex-showroom Mumbai). The CNG version of the B-Segment hatch is powered by the same 1.0-liter three-cylinder K10B engine that delivers 58 bhp (about 10 bhp down from petrol).

• Toyota Kirloskar Motor said that the new Toyota Corolla has garnered 1,300 bookings in India since the showcasing at the Auto Expo with a near 50:50 split for petrol and diesel variants. Toyota opened bookings for the car at the Auto Expo and said the launch would be held in May.

• Hyundai Motors India Limited (HMIL) has announced that it will enhance the production of its recent launch compact sedan Xcent to reduce the extended waiting period and to meet the requirements of customers. The Indian arm of Korean car maker had launched the Grand i10 hatchback and Xcent sedan based on i10’s platform after the launch of Grand i10 hatchback and sold out 16, 275 units of both the products during the month of April this year. 

• Johnson Controls, the global technology major, and Yanfeng Automotive Trim Systems, a wholly owned subsidiary of Huayu Automotive Systems Co (HASCO), the component group of Shanghai Automotive Industry Corporation (SAIC), China’s largest state-owned automaker, have signed a pact to form a global automotive interiors joint venture. The agreement is a noncash transaction comprised of asset contributions by the two parties that will create the largest automotive interiors company in the world with revenues of approximately $7.5 billion (Rs 44,610 crore). Yanfeng will hold the majority 70 percent share in the joint venture, and Johnson Controls will have a 30 percent share.

•  Mahindra & Mahindra (M&M) is working on an ‘aggressive strategy to become a top global automotive brand’ by 2024. Its North American Technical Centre (MNATC), based in Michigan, will play a key role in this ambitious strategy. Engineers at MNATC are already at work on one of Mahindra’s new wave of products. “The North American Technical Centre is working on a new four-wheeler platform for M&M,” says Dr Pawan Goenka, executive director and president - Automotive & Farm Equipment Sectors, M&M, who was in Michigan to inaugurate the technical centre on May 13. This platform could be for international markets as M&M does not have any specific plan to enter the passenger vehicle market in US now.

• With the introduction of the Datsun GO, the sales numbers for Nissan have quadrupled in India. Currently, the manufacturer has no plans of selling this tailor-made car for India overseas, but if there is a demand, the carmaker will export it to other countries.

• Indian imports of natural rubber are likely to soar over 70 per cent in the three months that end in June from the same period last year, as a strong local currency and lower global prices prompt tyre makers to snap up cargoes.

• Daimler India Commercial Vehicles Pvt. Ltd. (DICV) and Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC) has now launched DICV-made trucks in Zimbabwe. This is the 4th African market since exports began in May 2013. As part of Asia Business Model, of the first 15 export markets for DICV, Zimbabwe is a potential market in Africa.
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Automotive Updates - 19th May 2014

• Volkswagen Group is planning an investment of 100 million euros (INR 802.5 crore in today’s exchange rate) for business expansion in India, PTI has reported.VW India President and Managing Director Mahesh Kodumudi  - At present, an investment of approximately 100 million euros is in the decision process for new models and for further localisation of parts and components.

• Renault has announced plans of transforming the funky Kwid concept SUV to a production model by the year 2016. The Renault Kwid concept was unveiled at the 2014 Indian Auto Expo enthralling all with its quirky styling both on the exterior and the interior. The Renault Kwid, in its production form will be a sub 4-meter compact SUV with both a 4-door and a 2-door configuration available to the public.

•  Shiroki and Technico have executed binding agreements allowing them to exit the current relationship and hiving off Seat & Window Regulator Business into a JV "Shiroki Technico India Private Limited" here. Previsouly, Shiroki was holding minority stake in Technico. The JV will be held 50%+1 by Shiroki and 50%-1 by Technico with an investment outlay of Rs 150 crores over the next two years. 

• The mid-size sedan segment has been greatly affected by the launch of the 2014 Honda City. While Hyundai added a couple of new variants to the Verna, Volkswagen added a 1.2-litre TSI petrol engine under the Vento’s hood while the Skoda Rapid got a minor update with new logos, steering wheel, etc. 

• Tata Motors will enter Brunei this year with three compact vehicles.The Indica, Vista and Manza models will be launched in the Sultanate in the coming months through its distributor – Worldwide Motors Sdn Bhd – appointed in September last year.

• Sundaram Motors, the car retailing arm of T V Sundaram Iyengar & Sons, plans to add two new 3S (Sales, Service and Spares) dealerships for Mercedes-Benz India in South India. Talking to Autocar Professional, Sharath Vijayaraghavan, executive director of Sundaram Motors, said the company at present operates two 3S facilities for Mercedes-Benz India in Bangalore and Coimbatore in Karnataka and Tamil Nadu respectively. However, in Mangalore and Madurai it has only service stations. “The service stations in the Tier 2 cities of Mangalore and Madurai will be converted into 3S facilities for Mercedes-Benz soon,” Vijayaraghavan added.

• Sustainability and electric vehicle technology are among the key focus areas for Tata Motors’Horizonext philosophy. The Tata Motors European Technical Centre (TMETC), based at the University of Warwick in Coventry, UK, has been making steady progress in R&D in this area culminating in the development of a Manza REEV (range extended electric vehicle) demonstrator vehicle.

• The BMW S1000R has been launched in India through the CBU route. The street-naked motorcycle that looks like a stripped-down variant of the S1000RR (featured in the Bollywood movie Dhoom) is priced at INR 22.83 lakh (ex-showroom, Mumbai).

• Spanish bikemaker Bultaco announced its plans to return to the world of motorcycles. Bultaco was founded in 1958 and was renowned for its two-stroke motocross and enduro offerings before shutting operations in 1983. The Spanish motorcycle manufacturer will enter the market with two electric powered offerings, and showcased the prototypes of the Rapitan & Rapitan Sport. The manufacturing unit will be based in Barcelona while the innovation centre will be situated in Madrid.

Automotive Updates - 18th May 2014

•  German auto giant Volkswagen Group is planning to invest about 100 million euros (over Rs 800 crore) in India to expand business, including launches of sedan and SUV in the compact segment along with a hatchback. "At present, an investment of approximately 100 million euros is in the decision process for new models and for further localisation of parts and components," Volkswagen India President and Managing Director Mahesh Kodumudi told .

•  Harnessing capabilities from its centres across the globe, India's Tata Motors is gearing up for a big leap to reclaim its position among top car makers in the domestic market while also seeking a bigger play internationally.Beyond the conventional fuel vehicles, the company's board has already given approval for a product launch programme till 2020 that will include hybrids, electric and other alternate fuel technologies.

• The Board of Directors of Apollo Tyres Ltd today approved the company’s audited financial results for the 4th quarter (January to March) and the financial year 2013-14. The Board recommended a dividend payout of 75%, to be approved by the shareholders at the forthcoming Annual General Meeting, later in the year. 

• Skoda India will fit the Skoda Rapid diesel with a 7-speed DSG gearbox and launch it in October 2014. For this, it will opt for a 1.5-liter diesel engine to power the sedan. A report on the Economic Times states that the Rapid will move closer to its cousin in VW – the Vento – and offer a 1.2-liter petrol engine as well. The sedan will not get a facelift, retaining its old looks.

• JK Tyres today said the company would double its capacity at its greenfield plant at Chennai by the end of this year.

• Mahindra Group has indicated that it has a working strategy to export their new GenZe electric scooter from its new plant in the United States to other markets all over the world. The group recently launched a manufacturing facility for Mahindra GenZe electric scooter and Mahindra North American Technical Centre (MNATC) in Michigan.

• BMW India will launch the 3rd-generation BMW X5 on May 29. 

• Nissan, the Japanese car manufacturer has teased an image of its upcoming car Pulsar. The company will unveil this new car on the 20th May, 2014. The automaker used its social platform to tease its new offering. According to the Nissan's official Facebook page, the car will join the line-up of the Nissan Qashqai, Juke and X-Trail.

• National Council of Educational Research and Training (NCERT) is planning to add driving and road safety lessons in school curriculum from next academic year. This can be counted as a major and functional step towards improving road safety in India. What better way to perk up safety awareness than making blossoming school children develop road safety as habit.

• Godrej Security Solutions (GSS), one of India’s leading providers of comprehensive security solutions, today unveiled MOTORMATE. With the increase in the number of car thefts in India, a product like acar safe is the perfect option to secure valuables. This revolutionary product is specially designed to protect valuables such as cash, wallets, mobiles phones.

• Images from www.outlookbusiness.com

Automotive Updates - 17th May 2014

• Wheels India, steel wheel maker for passenger cars and utility vehicles, has reported a 64.11 per cent jump in net profit at Rs 8.78 crore for the fourth quarter ended March 31, 2014.The city-based TVS Group company had reported a net profit of Rs 5.35 crore in the year-ago period.

• JK Tyres on Saturday said the company would double its capacity at its greenfield plant at Chennai by the end of this year.The work for the capacity expansion at Chennai plant was going on and likely to start production from November- December, said P Pawan Darshan, General Manager (Sales), North and East India of the company said.

• Hyundai Motor Co is recalling more than 140,000 Tucson crossover utility vehicles because the air bag assembly may come loose from its mounting on the steering wheel, according to documents filed with U.S. auto safety regulators.

• Tata Motors Engineering Research Centre (ERC) has developed a new 3.0-litre, four-cylinder common-rail diesel engine.  This engine was designed with emphasis on weight reduction, compliance with emission norms and better fuel efficiency according to the source.

• Skoda India will fit the Skoda Rapid diesel with a 7-speed DSG gearbox and launch it in October 2014. For this, it will opt for a 1.5-liter diesel engine to power the sedan. A report on the Economic Times states that the Rapid will move closer to its cousin in VW – the Vento – and offer a 1.2-liter petrol engine as well.
• The US car safety regulator imposed a record 35 million USD fine on General Motors today for its slow efforts to report faulty ignitions in its cars that contributed to at least 13 deaths.

• Maruti Suzuki will launch the CNG variant of the Maruti Celerio next month, adding to the Alto 800, Wagon R, Eeco and the Ertiga.

• Mr. Sumit Mazumder, Vice Chairman & Managing Director of TIL Ltd., has been elected President-designate of the Confederation of Indian Industry (CII) for 2014-15.Mr. Mazumder is also the Executive Chairman of Tractors India Pvt. Ltd. (TIPL) which is a distributor for Caterpillar of the US in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.

•  Image from livemint.com

Automotive Updates - 16th May 2014

• Steel Strips Wheels Ltd (SSWL), the Punjab-based automotive steel wheel manufacturer, has bagged an export order for the supply of 150,000 wheel rims to Peugeot France. The size of the deal is around Rs 12.21 crore. According to company sources, this is the biggest export order after it won a Rs 29.73 crore worth deal to supply car wheel rims to SsangYong Motors Company (SYMC) in Korea in November 2013. With this, SSWL became the first Indian company to supply components to SsangYong.

• Terra Motors Corporation, Japan’s top electric two and three-wheeler manufacturer, has raised $10 million (Rs 59.50 crore) to finance its expansion plans in Asian markets, including India. Terra Motors plans to enter India later this year with its executive scooter A4000i.

• Autocar Professional learns that while Tata Motors’ Pune-based Engineering Research Centre (ERC) is working on a number of engine families (for passenger cars and commercial vehicles), the facility has developed an all-new four-cylinder (inline), 3-litre diesel engine with common-rail fuel injection technology. However, reliable sources say that the company is yet to take a call on its end applications.

• Karsan, a Turkish automaker, said on Thursday it had reached a preliminary agreement with Chinese firm Wuhan Zhong to set up a production facility in China.The joint venture, in which Karsan will hold a 35 percent stake, will produce an annual 30,000 units of its J10 model and other products, Karsan said in a filing with the Istanbul Stock Exchange.

• It is official that the Toyota Corolla Altis will be offered in seven variants. While four of these will be diesel, the other three will be petrol. For now, Toyota will not be launching the base variant of the petrol and it might be introduced later as a base version. The four diesel variants are the- J, JS, G and GL while the three petrols are- V, VL MT and VL AT. 

• About three months after the start of production of the new Mercedes-Benz C-class at the Bremen plant in Germany, the second of the total of four locations has started production of the highest-volume Mercedes-Benz model line. For the East London plant in South Africa, this is already the fourth generation of the C-class sedan. The new C-class is the first Mercedes-Benz model to be produced on four continents: Bremen and East London will be followed by the plants in Tuscaloosa/Alabama (USA) and Beijing (China) within the next few months.

• Datsun the subsidiary of Japanese auto gaint Nissan Motors had unveiled the on-DO sedan recently in Russia and is expected to launch the same sometimes in the month of June. Apart from it the Japanese car maker is also going to launch its hatchback mi-DO also in Russian car market during the month of August this year. Now it is rumored that car maker is working on introducing a crossover based on redi-GO concept in Russian market which would be its third product in Russia at the earliest. This was also confirmed by company’s authentic source Mr. Jerome Him, Head, Datsun Russia.

Images from 

http://www.aawsat.net/2014/02/article55329259

Automotive Updates - 15th May 2014

• German luxury car maker Mercedes-Benz today launched sports utility vehicle ML 63, priced at Rs 1.49 crore (ex-showroom Delhi), expanding its AMG range of cars in India. 

• Chevrolet India has received the DMAi gold award for the newly designed Chevrolet India website, which is based on Chevrolet’s global standards, and a bronze award for the successful ‘Enjoy Voyage’ pre-launch campaign executed in May last year. The DMAi Awards, which are conducted annually, honour excellence in marketing and advertising campaigns that have raised the bar of originality, response strategy, interactivity and impact.

• Tata Motors today reported 7.65 per cent decline in its global sales, including that of Jaguar Land Rover (JLR), to 75,026 units in April.The company had sold 81,241 units in April last year, Tata Motors said in a statement.

• Bajaj Auto has recorded its highest ever turnover of Rs 20,865 crore for 2013-14. However, this is actually flat growth given that its year-earlier turnover was Rs 20,793 crore. Net profits for FY2014 were Rs 3,243 crore, up from Rs 3,044 crore in the year-earlier period, up six percent.

• Apollo Tyres' consolidated net profit doubled to Rs 281.62 crore in the quarter ended March 31, mainly on account of increased sales.Profit was Rs 141.05 crore in the corresponding quarter of the previous financial year, Apollo Tyres said in a filing to the BSE.Consolidated total income rose to Rs 3,229.27 crore from Rs 3,041.99 crore a year earlier, it added.

• In a bid to drive sales of its AMG brand in India, luxury carmaker Mercedes-Benz India has opened its first AMG Performance Centre in Delhi at T&T Motors. It also rolled out its high-performance ML 63 AMG SUV at a price tag of Rs 1.49 crore (ex-showroom Delhi). Similar outlets are to be opened in Bangalore and Mumbai soon.

• With the launch of D-max in India, Isuzu also opened its first dealership in Mumbai which adds to its current tally of 8 other dealerships in Chennai, Bangalore, Hyderabad, Coimbatore, Madurai, Vishakhapatnam, Tirupati and Cochin covering all the 4 south Indian states.

• Omax Autos, which manufactures frame assemblies for the commercial vehicle segment and also caters to the two-wheeler, three-wheeler, off-highway, passenger car and railway segments, has expanded its work to encompass complete vehicle assembly. The company has won an initial order of 20 vehicle assemblies from a well-known truck OEM; its Bangalore plant rolled out its first truck assembly in March 2014.

• Following the consolidation of international operations in November 2013, American car maker General Motors’s Indian subsidiary is being considered as a future global sourcing base for compact vehicles.The report on Economic Times says GM India has frozen a plan to integrate exports into its business for the first time in its 18-year stint.GM India’s top official confirmed to IAB on the sidelines of the Beat facelift’s launch that exports would begin later in the year, but stopped short of sharing specifics. ET has learned that exports kick off this year with the Chevrolet Beat hatchback. The first market is Chile, followed by Mexico, Peru and the Caribbean in 2015.

• Hyundai Motor Co's South Korean labour union has demanded higher pay and bonuses and more cuts to working hours, as the automaker heads into annual wage talks in June under the threat of industrial action.Any strike action in South Korea - which makes nearly 40 percent of Hyundai vehicles sold globally - could disrupt supply around the world as the company fights to reverse a fall in profits linked to the stronger won and competition from the likes of Volkswagen AG.

• The Norma Group, an international market and technology leader for engineered joining technology, has started production in its second manufacturing plant in China in Changzhou, 200km outside Shanghai. The new facility was set up to meet the greater demand for metal-based joining solutions in the Asia-Pacific region. Spread across 8,000 square metres, the new plant will produce about 45 million pieces of clamps per year for both Western and Asian automotive manufacturers.

• Image from www.thehindubusinessline.com

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Automotive Updates - 14th May 2014

• Bajaj AutoBSE 3.10 % employees' union has postponed its proposed strike from tomorrow after considering suggestions of Shramik Ekta Mahasangh, the umbrella organisation of trade unions in the region. It, however, added that if Mahasangh's intervention also fails it will will have no option but go ahead with plans of agitation. 

• Escorts Ltd has launched its Farmtrac Heritage tractor range at South Africa’s NAMPO 2014 agriculture show. The Heritage series, which comprises tractors in the 50-75hp range, received a good response at last year’s Agritechnica Show in Hanover

• India has commenced exports of the Hyundai Xcent and the Middle East is the first port of call. Hyundai would also introduce the car in Nepal, its distributor confirmed last month, but the company remained tight lipped on the other destinations it plans to ship the car to.

• Tata Motors launched three new next-gen heavy trucks from its PRIMA range of commercial vehicles in Qatar, along with its partners, Al-Hamad Automobiles.

• Specialty chemicals major Lanxess India has appointed, effective May 1, 2014, Dr Jacques Perez as its managing director and vice-chairman. He will also be the country representative for the company. This will be in addition to his earlier responsibility as a director and CFO at Lanxess India.

• Honda Motorcycle & Scooter India will launch an all-new 160 cc bike between July and September this year. The announcement was made at a business meeting in Tokyo yesterday and the confirmation came from the company via a press release.

•  Mahindra & Mahindra (M&M) is looking at US not only as a market for the GenZe but will also export out of it. “Exporting to various markets outside USA is certainly on the cards,” says Dr Pawan Goenka, executive director and president – Automotive & Farm Equipment Sectors, M&M, in an email response to Autocar Professional.  The GenZe plant has the capacity to assemble up to 9,000 vehicles per annum, with the ability to ramp up to 20,000 vehicles if needed. The exports could be of the GenZe and other products, as Mahindra may build a portfolio of electric two-wheelers. “What we are doing with electric two-wheelers with GenZe is a beginning. All options are open,” says Dr Goenka.

• Power management company Eaton has signed a framework agreement with Great Wall Motors Co. Ltd. (GWM) to create a long-term strategic partnership that drives growth for both companies through greater technical exchange and resource sharing. The agreement was signed during an Eaton Tech Day held at GWM’s Baoding facility in China’s Hebei province earlier this month. 

• Global automotive supplier Brose has opened a new door systems plant in Bremen. On the 4,500 square metres shopfloor, the mechatronics specialist manufactures door systems for the new Mercedes-Benz C-class sedan. These are then delivered to the assembly line of the local Mercedes-Benz car plant and fitted into as many as 600 vehicles a day.

• Castrol India Limited announced today that their net profit after tax is down by 19% in first quarter of this year (January-March-2014). The company's net profit after taxation is 100.2 crores while the oil manufacturer recorded 124.3 crores net profit same last year. The company also introduced two new engine oils Castrol Active Scooter and Castrol Magnatec Stop Start. They also won a contract for supply of products during this period with Ford India for their new plant in Sanand, Gujarat

•  Image from www.wantchinatimes.com

Automotive Updates - 13th May 2014

• Isuzu Motors today launched the Isuzu D-Max and D-Max Space Cab in an event held in Mumbai, Maharashtra. The Japanese manufacturer also opened its first ever dealership in Maharashtra, located in Mumbai, today, announcing plans to open dealer outlets in Delhi and Vishakapatnam by the end of this month. 

• The country's largest carmaker Maruti Suzuki India today said its compact car Alto has become the second model from the company's portfolio to cross the 25 lakh unit sales mark in the domestic market. 

• Suzuki Motorcycle India (SMIL) today launched its 110 cc LET's scooter in Kerala, targetting sales of 1,000 units per month in the state.

•  Japanese two wheeler major, Honda Motorcycle & Scooter India (HMSI) has announced the launch of two new motorcycles in quarter two of FY-15, as it aims to post yet another year of double digit growth of 21% to 4.5 million units.

• Honda Motor Co's Indian two-wheeler unit aims to increase sales by 21 per cent in the current fiscal year that started in April, helped by booming sales of its scooters and planned launches. 

• Nissan Motor Co has announced its financial results for the 12-months and fourth quarter ended March 31, 2014. The company has reported a net income of 389 billion yen (Rs 22,562 crore) for FY2013, a 14 percent year-on-year growth. Net revenues were 10.48 trillion yen (Rs 607,840 crore), up 20 percent YoY, while operating profit was 498.4 billion yen (Rs 28,907 crore).

• The Board of Directors of the European Automobile Manufacturers' Association (ACEA) has elected Carlos Ghosn, chairman and CEO of Renault, as its new president. Ghosn, who was previously president of ACEA in 2009, takes over from Philippe Varin, former chairman of the Board of Management of PSA Peugeot Citroën. This change is effective immediately.

• V R V Sriprasad, one of the key persons behind establishing the Bharat Benz brand in India is shifting to Volvo's India subsidiary as the managing director of the company. ET learns, the announcement to be made in the coming days. ET could not reach Sriprasad for his comments, and Volvo Buses India did not respond to an email query. Sriprasad will take over the position from current MD Manish Sahi, who will take another position in the group.

• DSK Hyosung is gearing up to expand its portfolio by launching the GD250R in July this year. Essentially a fully-faired version of the GD250N that was displayed earlier this year at the Auto Expo, the GD250R sports a single cylinder, liquid-cooled, fuel-injected engine. 

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Automotive updates - 12th MAy 2014

• Diesel prices may be hiked by up to one rupee a litre after Election Commission rejected the Oil Ministry's proposal made on the eve of elections to shelve the monthly increases in rates.

• Fiat is taking another run at getting things right in India as part of the wider strategy that the company, now Fiat Chrysler, has for the Asia-Pacific region in its 2018 plan.

• Tata Motors-owned Jaguar Land Rover (JLR) today reported 30 per cent increase in global sales for April at 37,171 units. The company's sales were up 72 per cent in the China region, 19 per cent in North America, 25 per cent in Asia Pacific and 27 per cent in Europe, JLR said in a statement.

• The net sales of SRF Limited, a multi-business entity engaged in the manufacture of chemical-based industrial intermediates, increased by 8% to Rs 884 crore for the last quarter of 2013-14 over the corresponding period last year.

• Harley-Davidson entered the Indian two-wheeler market in 2009 and currently the company holds the top position in the premium motorcycle segment. While the manufacturer brought down its bikes via the CBU route earlier, it was only in 2011 when Harley-Davidson India started importing their products as CKD units. The main reason for this was that CKD kits attract lesser tax than CBUs. These CKD kits are assembled at the company’s plant in Bawal, Haryana. Along with bikes, the company also offers spare parts and service, accessories as well as riding gear in India.

• Internal competition at Ford Motor is likely to rob its Indian unit an opportunity to export the EcoSport to North America, where the US automaker plans to launch the compact sport-utility vehicle in the first half of 2016, people familiar with the matter said.

• Suzuki India has silently updated the Swish 125 automatic scooter with a host of changes in order to counter the attack from the newly launched Honda Activa 125. With the Activa 125 launched earlier this month, the 125cc segment is surely facing the heat with India’s best selling scooter getting a bigger engine. Moreover, the Activa 125 has turned out be a more complete package with the bigger motor and updated exteriors which makes the Swish look dated. The Activa 125 is also more feature rich making the Swish seem basic in comparison.

• As part of its corporate social responsibility (CSR), initiative, Arvind Saxena, president and MD, General Motors India, recently handed over a cheque for Rs 150,000 to the school authorities at Sankalp School, Gurgaon for the education, meals and hygiene of One Class in the presence of other GM India senior leadership. Apart from financial assistance, GM India has committed full support to the school in the future as well.

• The Karnataka government has stopped operation of interstate luxury coach buses that have failed to comply with the latest rules and regulation in connection with emergency exit door norms. The state government has prevented such buses from entering into Karnataka since the past week.

• The Mercedes-Benz GLA has arrived on Indian shores for homologation purposes and is mere months away from its launch. Mercedes-Benz showcased the production-version of the Mercedes GLA at the Auto Expo 2014. A report from Import & Export data website Zauba.com says that two models of the compact SUV have been shipped over from Mercedes’ production facility in Germany.

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Automotive Updates - 11th May 2014

• Passenger Vehicle (PV) is expected to have the highest CAGR between 2014 -2019 in India, leaving behind even the two-wheeler segment, Frost & Sullivan forecasts.

• According to the report, PV is estimated to grow at a CAGR of 9.5 percent with annual sales reaching to 3.95 million units by 2019 while the two-wheeler will go up by 5.3 percent to reach 21.30 million units yearly sales. Utility Vehicle is expected to drive the growth in PV segment with an anticipated growth of over 20 percent over the next five years.

•  Eicher Motors plans to invest Rs 2,000 crore in its various business verticals, including commercial vehicles and motorcycles, by the end of 2015.

• Volkswagen has joined the bandwagon of a growing number of car makers by announcing that they are developing a new 10-speed Direct Shift Gearbox (DSG). This was revealed by Hans-Jakob Neusser, the development chief of Volkswagen Group at the 2014 Vienna motor symposium in Austria. 

• Fiat Chrysler Automobiles' Chrysler unit said on Friday it was recalling an estimated 780,477 minivans after reports of overheating, including some fires, in third-row power window vent switches.

•  Iconic cult bike maker Harley-Davidson has hit the sweet spot with its model 'Street 750', that is built in India, accounting for nearly 60 per cent of its April sales in the country within the first month of starting deliveries.The company, which is present in India through a wholly-owned subsidiary Harley-Davidson India, had launched the Street 750 priced at Rs 4.1 lakh in February and opened for bookings in March.

• Subaru cars maker Fuji Heavy Industries Ltd said on Friday it would stop manufacturing Toyota Motor Corp's Camry at its Indiana plant in the autumn of 2016.In a separate statement, Toyota said it would shift the production of the Camry that is now being manufactured at Fuji Heavy's Indiana plant to its own Kentucky plant in the autumn of 2016.

• Automotive Carbon Fibers (ACF), a joint venture between the BMW Group and SGL Group is tripling the capacity of carbon fiber plant in Moses Lake, USA, with an investment of $200 million, in addition to the previously invested $100 million.

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