Auto Sector

Hyundai gearing up to enter compact SUV segment from next year

Hyundai gearing up to enter compact SUV segment from next yearJodhpur - With an eye on increasing market share in India, Korean auto major Hyundai is gearing up to enter the compact SUV and multi-purpose vehicle segments from next year.

Buoyed by strong response to its newly launched hatchback Elite i20 and success of compact sedan Xcent, the company's Indian arm Hyundai Motor India Ltd (HMIL) is also looking forward to a strong festive season sales.


China slaps $201 mn fines on 12 Japanese auto makers

China slaps $201 mn fines on 12 Japanese auto makersBeijing - Continuing with its crackdown on multinationals over anti-monopoly violations, China on Wednesday slapped USD 201 million fine on 12 Japanese auto parts suppliers accusing them of conniving to raise prices.

A total of 12 Japanese auto parts suppliers have been fined 1.24 billion yuan (about USD 201 million) due to a price monopoly, China's price regulator, National Development and Reform Commission (NDRC), said in a statement.


'Rare' Ferrari Berlinetta goes under the hammer for 23m pounds

'Rare' Ferrari Berlinetta goes under the hammer for 23m pounds London, August 16 - The 1962 Ferrari 250 GTO Berlinetta, which is known as 3851 GT, has been auctioned for 23 million pounds.

The car, which is one of just 39 made, is regarded as one of the world's greatest Ferraris, and has been become the most expensive car publicly sold in the world, the Independent reported.

Previously, the record was held by 1954 Mercedes-Benz W196 R F1 Racer, which was sold for 18 million pounds. (ANI)


'Zest, Bolt success hold key to Tata Motors car biz profits'

'Zest, Bolt success hold key to Tata Motors car biz profits'Mumbai: The profitability of the struggling domestic unit of Tata Motors, especially that of its passenger car division, depends on the success of the newly launched sedan Zest and the forthcoming roll out Bolt, says global rating agency Moody's.

"The profitability of Tata Motors' passenger car business depends on its ability to sell significant volumes of its new Zest and Bolt models," Moody's said in a statement.

The company has Ba3 stable rating from the agency.


Tata Motors global sales down 8% in July

Tata-MotorsNew Delhi: Tata Motors Thursday reported an 8.46 percent decline in global sales to 80,151 units in July.

The company had sold 87,566 units in the same month last year.

In the passenger vehicles category, the global sales last month were at 49,001 units, as against 46,684 units in July 2013, up 4.96 percent, Tata Motors said in a statement.

Sales of luxury brand Jaguar Land Rover rose 12.24 percent to 39,467 units in July, compared to 35,162 units in the same month last year.

Sales of commercial vehicles declined 23.8 percent in July to 31,150 units from 40,882 units a year ago.---- PTI


Tata Motors launches 'Zest' to revive sagging fortunes

Tata-ZestMumbai /Chandigarh/ Noida, Aug 13 : In a bid to regain market shares and plug losses in its domestic business, Tata Motors began selling its new passenger car 'Zest' since yesterday, its first offering in four years.

The Zest is a compact sedan built on a new platform and, in a departure from previous models, boasts user-friendly features such as touch screen control panels.

Tata Motors has performed well this year thanks in part to strong sales of its luxury Jaguar and Land Rover vehicles.


Tata Motors stock surges over 8% on stellar earnings

Tata Motors stock surges over 8% on stellar earningsMumbai - Shares of Tata Motors soared over 8 percent in morning trade on Tuesday after the company reported over 3-fold jump in consolidated net profit for the June quarter.

The auto major's scrip jumped 8.18 percent to Rs 484.00 on the BSE.

On the NSE, the stock climbed 7.93 percent to Rs 482.

Tata Motors was the best performer among the blue-chips on both the Sensex and Nifty during the morning trade.


Bajaj launches two new models under the Discover range

Bajaj-Discover-150FNew Delhi: Bajaj Auto on Monday launched two bikes under the Discover range priced up to Rs 58,739 (ex-showroom Pune).

Discover 150F is priced at Rs 58,739, while Discover 150S is available for Rs 51,720 for drum and 54,725 for disc variants, Bajaj Auto Ltd said in a statement.

"These Discover 150 bikes break away from the current basic bikes available in the market to give the consumer an exciting and energising ride," it added.


Hyundai launches Elite i20; price starts at Rs 4.9 lakh

Elite-i20New Delhi: Hyundai Motor India on Monday launched all new version of its premium compact car i20 priced between Rs 4.9 lakh and Rs 7.67 lakh (ex-showroom Delhi).

The second generation model -- i20 Elite -- would compete with the likes of Maruti Suzuki's Swift and Volkswagen Polo, priced between Rs 4.42 lakh and Rs 7.99 lakh (ex-showroom Delhi).

Commenting on the launch, Hyundai Motor India Ltd (HMIL) Managing Director & CEO B S Seo said since the launch of first generation i20 in December 2008, the company has so far sold 7.34 lakh units in the country.


Mahindra Q1 profit declines 5.98% to Rs 881.78 crore

MahindraMumbai: Homegrown auto major Mahindra & Mahindra on Friday reported a 5.98 percent decline in its standalone net profit at Rs 881.78 crore for the first quarter ended June 30, 2014.

The auto major had posted a net profit of Rs 937.91 crore during the same period a year ago.

Net sales on a standalone basis during the April-June quarter declined marginally to Rs 10,597.07 crore from Rs 10,607.27 crore, Mahindra & Mahindra said in a filing to the BSE.


Domestic car sales rise 5.04%, bikes up 6.17% in July

Domestic car salesNew Delhi: Domestic passenger car sales grew 5.04 percent to 1,37,873 units in July this year as compared to 1,31,257 units in the same month of 2013.

According to the data released by Society of Indian Automobile Manufacturers (SIAM), motorcycle sales during last month grew 6.17 percent to 8,59,290 units from 8,09,386 units in the same month previous year.

Total two-wheeler sales in July 2014 grew 13.73 percent to 12,87,462 units from 11,32,066 units in the same period of previous year.


Audi A3 Sedan to be launched in India today

Audi A3 Sedan to be launched in India todayNew Delhi - German luxury car maker Audi will launch the A3 Sedan in India today. The Audi A3 was first showcased in Auto Expo held in February this year.

The A3 is expected to be priced at around Rs 25 lakh, making it the cheapest luxury sedan in the country. The Audi A3 is expected to compete with the Mercedes A-class and B-class and BMW's 1-series.

The car maker is betting big on its upcoming sedan A3 to stretch its leadership in the Indian market and has started local production of the model from VW group firm Skoda's Aurangabad plant.


Rolls-Royce Motor Cars confirms development of new model

Rolls-RoyceNew Delhi, Aug 5 : The manufacturer of the world's pinnacle super luxury automobiles, today confirmed the development program for a new Rolls-Royce. The new car will reach the market by mid-2016.

The car will build on the success of Phantom, Ghost and Wraith by continuing to boldly shape the future of the marque with contemporary, graceful and sensuous styling. It will deliver effortless, open-top touring through the perfect marriage of modern Rolls-Royce luxury, style and elegance with an engaging and exhilarating driving experience.


Honda halts City production in Aug; to shift to Tapukara

HondaNew Delhi: Honda Cars India is temporarily suspending production of its flagship sedan City this month as it shifts manufacturing of the car to its Tapukara facility.

The company said it will resume production of the car that is being rolled out from its Greater Noida plant in the first week of next month.

"There will be no production of the Honda City in the month of August and the manufacturing of the car will resume in first week of September," Honda Cars India Ltd (HCIL) said in a statement.


GM Finance subpoenaed over subprime auto loans

GM Finance subpoenaed over subprime auto loansNew York - GM Finance says it has received a subpoena from the US Department of Justice for documents related to subprime auto loans. The affiliate of General Motors Co said in a filing today with the government that the Justice Department requested documents related to the origination and securitisation of subprime auto loan contracts since 2007.


Bajaj Auto sales rise 9% in July

Bajaj Auto sales rise 9% in JulyNew Delhi - Bajaj Auto on Monday reported 9 percent increase in motorcycle sales at 2,67,841 units in July 2014.

The company had sold 2,46,828 units in the same month last year, Bajaj Auto Ltd said in a statement. BAL said exports were up 54 percent during the month at 1,69,755 units as compared to 1,10,023 units in July 2013.

In the commercial vehicles category, its sales stood at 51,451 units, up 49 percent, against 34,499 units in the same month of the previous year.


Hyundai eyes new customer segments; Elite i20 launch next week

Hyundai eyes new customer segments; Elite i20 launch next weekNew Delhi - Korean car major Hyundai is looking to tap new customers in rural areas and corporate segment to increase its market share in the Indian automobile market.

The company's wholly-owned arm Hyundai Motor India Ltd (HMIL), which will make the global launch of its all new premium hatchback Elite i20 this month, also plans to introduce a new model each year in the segment where it is not present.


TVS Motor July sales up 32.15% to 2,03,092 units

TVS-MotorNew Delhi: Chennai-based TVS Motor Company on Saturday reported a 32.15 percent increase in its total sales at 2,03,092 units in July 2014.

The company had sold 1,53,676 units in the same month last year, TVS Motor Company said in a statement.

Total two-wheeler sales increased by 32 percent to 1,94,128 units in July 2014 as against 1,46,671 units in the same month a year ago.

Domestic two-wheeler sales stood at 1,64,571 units last month, up 30 percent, from 1,26,531 units in the year-ago period, it added.


Hero MotoCorp sales up 8.67% in July

Hero-MotoCorpNew Delhi: Country's largest two-wheeler maker Hero MotoCorp on Friday reported a 8.67 percent increase in its total sales at 5,29,862 units in July 2014.

It had sold 4,87,545 units in the same month last year, Hero MotoCorp said in a statement.

During July, Hero MotoCorp become the first Indian two-wheeler maker to have a manufacturing facility in Latin America, where it has set up its wholly-owned subsidiary in Colombia 'HMCL Colombia SAS'.

"All the recent launches by the company, including the new Xtreme, Karizma and ZMR are driving volumes across market," Hero MotoCorp said.


Toyota Kirloskar sales declines 4.3% in July

ToyotaNew Delhi: Toyota Kirloskar Motor on Friday reported a 4.30 percent decline in total sales at 13,847 units in July 2014.

The company had sold 14,470 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

In the domestic market, TKM sold 11,921 units in July 2014, up 3.52 percent as compared to 11,515 units in July 2013.

During the month, the company exported 1,926 units of Etios.


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