Automobile Newsletter - November 19 to November 23, 2012
BMW India has launched Deutsche Motoren, BMW Group's largest dealership facility in India. The new facility is situated at Mathura Road, Faridabad and is headed by Yadur Kapur, Managing Director, Deutsche Motoren.
Honda Motorcycle recalls 11000 CBR 250 R units: reports
Honda Motorcycle and Scooter India has announced the recall of the CBR 250R Standard variant motorcycle, according to reports.
Reports stated that the recall is for 11,500 units of CBR 250R Standard variant manufactured in India between March 2011 and September 2012.
The CBR-250R is priced between Rs. 1.6 lakh and Rs. 1.9 lakh (ex-showroom, Delhi), report says.
Company also reportedly said that there was a possibility of limited ineffectiveness in the front brake application, though this did not impact the overall braking functionality.
Deutsche Motoren unveils new BMW X6 in India
BMW India has launched Deutsche Motoren, BMW Group's largest dealership facility in India. The new facility is situated at Mathura Road, Faridabad and is headed by Yadur Kapur, Managing Director, Deutsche Motoren. The new BMW X6 was also unveiled at Deutsche Motoren and is available at all BMW dealerships across India as a CBU (Completely Built-up) unit.
Philipp von Sahr, President, BMW Group India said, "Five years ago, BMW changed the face of Indian luxury car segment with introduction of world-class premium dealerships that presented an unparalleled experience to the premium clientele. Today, with the launch of Deutsche Motoren Faridabad, BMW India is proud to set yet another benchmark in luxury car retail in India. Due to its vast capacity and meticulous BMW processes, Deutsche Motoren Faridabad will offer supreme pre and post sales service to BMW customers." Read more…
New Alto 800 - Price Samurai
The build-up to the launch of the new Alto 800 was akin to a blockbuster. Only line drawings were available and pictures were kept away from prying eyes. Dealers were selling the car without knowing anything about it. To top it all, customers were booking the car without knowing about the features or even seeing the car; it is perhaps a testimony of the customer’s innate faith in the company! A blockbuster it is, given the initial response it has garnered and the bestseller car that it is looking to replace.
That is something that will not probably surprise the marketing team at Maruti. Ever since it took over the No. 1 best seller position from Maruti 800 in 2004, the Alto has been unshakeable from the top perch. When Maruti decided to phase out the old Alto 800 and bring in the new Alto 800, it was always expected to be a ‘BIG’ launch. Not just since the old Alto 800 was a best-seller, but also because it was the cheapest BSIV hatch in the country, after the Tata Nano. Read more…
In Focus News
IIFL on New Alto 800 : Price Samurai
IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, in a recent report on New Alto 800 said that the ‘Ring out the old, ring in the new’ is the mantra from Maruti. The ‘old Alto 800’ has gone out in a high after an 8-year reign, and it has been replaced by the ‘new Alto 800’.
According to IIFL Institutional Equities, its advent has meant that Hyundai has stepped up the decibel level for the Eon, despite the new Maruti baby lacking the bells and whistles that one finds in the fluidic Korean mini-hatch.
Maruti understands small cars and India, and it is functionality that it aims for, and has managed to get that it in dollops. It is a price Samurai, and also answers the perennial ‘kitna deti hai…?’ question very well, the brokerage added.
The report was published by IIFL’s Institutional Equities Research desk.
LCV GC segment continues to witness robust growth: Care
CARE Research has released the November 2012 monthly update on "Indian Commercial Vehicle Industry - LCV GC segment continues to witness robust growth".
Key takeaways include:
The overall CV industry registered a growth of 6.9 per cent on Y-o-Y basis in October 2012. The domestic market grew at a moderate pace of 7.6 per cent whereas the exports witnessed a nominal drop of 0.4 per cent during the same period.
LCV segment grew at a strong pace of over 31.2 per cent in its domestic sales. This growth was on the back of 36.2 per cent increase observed in the demand of the LCV GC, which helped to negate the decline of 11.7 per cent observed in LCV PC segment.
M&HCV sales witnessed a drop of 22.9 per cent on account of a sharp decline of 22.5 per cent observed in the sales of voluminous M&HCV GC segment coupled with a fall 1.3 per cent in sales of M&HCV PC segment. Read more…
Porsche breaks monthly delivery record in India
Porsche India, the official importer for Porsche cars in the country, has commenced its retail operations with a record breaking performance during the month of October. Since the official start of deliveries to Indian customers on the first of October, the company managed to top the best ever monthly sales performance for Porsche in India, with 117 owners receiving their cars.
Anil Reddi, Director of Porsche India, reviews: “It has been a very exciting past six months for us at Porsche India and we are thrilled with the pace of our network expansion and new model launches in the country. Our first full month sales result in October has been in excess of 100 units which is the best ever for the brand here. It sets us on course for a good rest of the year.”
Looking at the current model line-up Reddi adds: “I am pleased to announce the arrival of the new 911 Carrera, the seventh generation of this sports car icon, as well as the new Boxster S which was unveiled globally earlier this year.”
The head of Porsche India is confident that both new models will add even more momentum to the increasing interest in the brand by customers and fans alike. Read more…
Honda’s first diesel car to ‘Amaze
Honda Amaze reportedly to be first diesel engine car in Indian market next year.
According to reports, the new Amaze is being nicknamed the Smart Micro Limousine for the Indian market by Honda engineers and it will continue to focus on Honda's 'Man Maximum, Machine Minimum' motto. The Amaze is built on the Brio platform and will attempt to offer entry sedan buyers a practical and reliable diesel alternative.
Amaze is a photocopy of the Brio from the front, though some minor changes to the bonnet grille will try to give it a couple of distinctive features. The rear, of course gets the addition of a boot. Unlike the Suzuki Swift DZire, the Amaze manages to carry-off the addition of the boot with much more panache. The tail-lamps and the shape of the boot lid give the Amaze a more natural look especially from a rear three-quarter perspective, reports added.
LIC sold 2% stake in Maruti Suzuki India
India’s major insurer LIC (Life Insurance Corporation of India) has sold over 2% stake in Maruti Suzuki India over a period of time, thereby reducing its total holding in MSI to around 10%.
LIC sold a total of 58,29,103 shares of the company aggregating 2.018% stake between August 24, 2009 and November 11, 2012 through the open market, Maruti Suzuki India (MSI) said in a filing to BSE.
After the sale, LIC's holding in MSI stands at 10.777%. Before the transaction, LIC held 12.794% stake in MSI, with a total of 3,69,64,231 shares, it added.
The equity share capital of MSI stands at 14.4 billion after the transaction, the company said.
Atul Auto Jul-Sep net profit up by 23%
Atul Auto Ltd, a leading three wheeler manufacturing company has recorded a 23% rise in the net profit of the quarter that ended on 30th September 2012. The profit from Jul–Sep2012 rose to Rs. 621 lakhs as against Rs. 506 lakhs in the last fiscal year.
Atul Auto has also seen a rise of 61% in the net profit of Q2 as compared to the first quarter of the current financial year. For the first half of the current fiscal, the net profit stood at Rs 1008 lakhs, recording a growth of 21% compared with Rs 834 Lakhs of the corresponding period last year.
The company also recorded a 16% growth in its sales in the first two quarters as compared to the sales of the same two quarters last year. The total sales from April 2012 to September 2012 were 14,418 vehicles as compared to 12375 vehicles in the same period of the previous year.
Vijay Kedia, Director, Atul Auto Ltd said, “Atul Auto’s performance has been very satisfying in this tough quarter. The current economic situation is quite challenging. We plan to focus on new product introduction, process innovation and cost control that will help in rising to the challenges adequately. One of the important steps this quarter was the application made to the Sri Lankan board to enter Sri Lankan Market with our vehicles.”
Shriram Transport launches India’s 11th Automall in Hyderabad
Shriram Transport Finance Company Limited (STFC), India’s largest asset financing company, today launched 'Shriram Automall', the country’s biggest Automall in Hyderabad. This recent addition of Automall is the 11th in India; the company has already set up 10 Automalls across key locations in the country.
Shriram Automall is the first-of-its kind initiative for the trading of pre-owned commercial vehicles, infrastructure and agricultural equipment in an organised and transparent manner. MVinod Dasari, Managing Director, Ashok Leyland, inaugurated the Automall in Hyderabad today.
Spread across 15 acres of land, Shriram Automall aims to put an end to the unreliable and old practices prevalent in commercial vehicle transactions by cultivating organized vehicle-trading mechanism. Apart from vehicle transactions, the Automall helps customers seek financing and insurance options as well as provides refurbishment solutions for vehicles. As add-on facilities, the Automall also provides rest rooms for travel-fatigued truck drivers/cleaners and parking services. The company plans to expand its PAN India network to 60 key cities by 2013. Such Automalls, equipped with secured stockyards, will be strategically located on important highways of the country, spreading across up to 20 acres of land. Read more…
Volkswagen plans to shift its India headquarters from BKC: reports
Volkswagen has acquired over 1 lakh sq ft office space in the Andheri suburb of Mumbai to shift its India headquarters from Bandra-Kurla Complex, according to reports.
Reports stated that the lease transaction with tenure of five years has been concluded at Rs 130 per sq ft a month.
The company also has an office on the outskirts of BKC to house its HR and finance function, says report.
Hybrid…Ford Motor collaborates with GE
Ford Motor Company announces a collaboration with GE in which the company will purchase 2,000 Ford C-MAX Energi plug-in hybrids for its fleet – Ford's largest-ever plug-in electrified vehicle fleet sale. Ford will also jointly market GE's alternative fuel infrastructure solutions.
For GE, the purchase of 2,000 Ford C-MAX Energi vehicles is another step in the company's initiative to convert half of its global fleet to alternative fuel vehicles as part of its commitment to ecomagination. The addition of the Ford vehicles brings the number of alternative fuel vehicles in GE's fleet to more than 5,000 in its goal of 25,000 vehicles.
"Ford is launching six new electrified vehicles – a big bet that fuel prices will continue rising and lead to more demand for advanced fuel-efficient vehicles," says Ken Czubay, Ford vice president, U.S. Marketing, Sales and Service. "We are pleased to partner with GE, a company that is charting a similar course, to promote advanced technology and energy savings." Read more…
JLR-Chery Auto JV to set up manufacturing unit in China
Jaguar Land Rover and Chery Automobile are reportedly laid a foundation stone for their new manufacturing facility in China in a joint venture as part of a 10.9-billion-renminbi investment plan.
According to reports, Jaguar Land Rover and Chery will now accelerate plans to build a joint venture manufacturing plant in Changshu, near Shanghai, as part of a 10.9-billion renminbi investment that will also include a new research and development centre and engine production facility.
Jaguar Land Rover Chief Executive Officer Ralf Speth and Chery Automobile Company Chairman and Chief Executive Officer Yin Tongyao was quoted as saying, “...We will now begin working in close collaboration on our partnership plans to harness the capabilities of our respective companies, to produce relevant, advanced models for Chinese consumers.”
Chery Jaguar Land Rover Automotive Company will also produce models for a domestic brand tailored specifically to local customer demand, reports added.
ZF reels in new orders for more than 2000 buses in Turkey
The consistent extension of the urban public transport network (UPTN) in the growing metropolises and the changeover to modern low-floor fleets are making the Turkish bus market increasingly important for ZF: Already today, the company is the leading provider of transmissions and chassis systems for buses with more than 12 meters length in Turkey - with the market share amounting to around 80 percent. ZF has now received new major orders from seven different transport authorities in six cities, for a total of 2043 city buses. "There are numerous reasons for the increasing demand for our broad driveline and chassis technology portfolio: Our products are innovative and reliable, so they contribute considerably to reducing the vehicles' life-cycle-cost and increasing passenger comfort at the same time. In addition, we boast a dense service network in the whole country which means that we can quickly and effectively support the transport authorities", says Rolf Lutz, Member of the Board of Management responsible for the Commercial Vehicle Technology division.
Economical, silent, and with a level vehicle floor
ZF-EcoLife, the 6-speed automatic transmission is used in approx 1108 new solo or articulated buses made by Karsan, Mercedes-Benz Türk, Temsa, and Solaris. The transport authorities IETT in Istanbul, Ego in Ankara, and Eshot in Izmir have placed their orders – based on decisive advantages: With the interaction of modern hardware and intelligent software, the ZF-EcoLife reduces the engine speed in buses in all operating conditions. Read more…
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India Infoline Research Team / 10:30, Jul 13, 2015
Tourism Finance Corp (TFCIL), a niche financier of tourism related projects and activities, has witnessed a sharp moderation in loan growth from 32% in FY12 to just 1% in FY14