Indian Auto Industry Update

25 March 2017

IndustryTata Motors to raise up to Rs 500 cr via NCDs

Dealers ask companies to take back BS3 vehicles

EPCA moves SC to stop sale of vehicles compliant with BS-III old emission norms

Gujarat High court refuses to stay NGT ban on govt buying diesel vehicles

Number of vehicles in Bengaluru rises by a mind-boggling 6099 in 40 years

Govt unveils online tools for vehicle registration driving licence

Goa records two vehicles for every licence holder

IIT-BHU students excel in sport vehicle building contest

Interviews amp FeaturesMahindra seeks to make luxury electric cars under Pininfarina brand

Maruti Suzuki Baleno RS Speedy update

On the style mile with the Tata Tigor

Driven by Fashion Maruti Suzuki

Is Honda WR-V a worthy alternative to Honda City

Cars SUVs MUVsMaruti Suzuki protesting workers demand judicial probe into 2012 violence case

Honda Cars India expects negative growth in FY17 hopeful for FY18

Buzz around GMs India exit gets loud as it loses market share at fast pace

Elon Muskamprsquos Tesla remains unmoved by Indiaamprsquos pitch for manufacturing plant

Luxury CarsLexus debuts in India launches 2 hybrid vehicles starting from Rs 5527 lakh (ex Delhi)

Toyota drives in luxury brand Lexus to India with three models

We are not an expensive version of Toyota Yoshihiro Sawa

Lexus has to be very unique to survive in India President Yoshihiro Sawa

Indian market is more bent towards family oriented needs Lexus

Volvo Cars to cost more by up to 25 from April 2017

Commercial VehiclesCommercial vehicle production in India has dipped since December 2016

Construction amp Agri Machinery23 WheelersE-BikesComponents

Bharat Forge divests 23 stake in power equipment JV with Alstom

Bosch rolls out 5 millionth power tool from its Chennai plant

Minda Industries eyes QIP issue

Board of Rane Engine Valves reappoints L Ganesh as MD

Allied IndustriesRubber Industry Body opens new chapter in Gujarat

Ceat launches new range of tyres for Small Commercial Vehicles

Emissions Environment

Finance amp InsuranceNCD Shriram Transport raises Rs 600 cr

Oil Lubricants amp Alternative FuelsPetrol prices set to rise in Goa with increase in VAT

Indian crude oil basket goes below $50 a barrel

News MagazinesSanmesh Waghmare wins Autocar Young Drivers 2016

2017 Kawasaki Z900 All you need to know

Lexus LX450d to be priced at Rs 23 crore

2017 Nissan Terrano launch on March 27

Demand for Maruti Vitara Brezza remains strong

Great Ford Endeavour Drive experience

International NewsFord lowers profit forecast as US auto boom ebbs

Venezuela plant to begin assembly of Hyundai cars in 2018

Volkswagen came with a bang for its first euro unsecured bond since emissions scandal

EIB asks French diesel inquiry to probe Renaults use of loans

March US auto sales seen up nearly 19 JD Power and LMC

BMW China ventures vehicle sales to rise 20 in 2017

Nissan declines talks with union after Mississippi rally

Spanish car parts maker Gestamp sets price range in 35 bn euro IPO

Behind every Skoda car design lies Czech crystal glass art form

Germany increases electric car charging points 27 percent in 2016

Donald Trumps auto review may only slow march to better fuel efficiency

Thailand approves 4 investment applications worth over $465 bn for electric cars

EconomyRupee snaps 2-day fall up 11 paise at 6541 against dollar

Sensex ends 89 pts higher Nifty tops 9100 ICICI Bank surges 3

Forex reserves up $267 bn to $36678 bn

ClosingLast Financial Closing

Industry

Tata Motors to raise up to Rs 500 cr via NCDs IANSSee this story in Business Standard (Web amp Print Edition)

Mumbai Automobile major Tata Motors on Friday said it would raise up to Rs 500 crore by issuing non-convertible debentures

we hereby inform that a meeting of the duly authorised committee was held today (Friday)approving offering of subscription ona private placement basis up to 5000 rated listed unsecured 784 per cent coupon redeemable non convertible debentures offace value Rs 1000000 each at par aggregating up to Rs 500 crore it said in a regulatory filing

The companys scrip closed at Rs 47050 down 028 percent from the previous day closing on BSEhttpwwwbusiness-standardcomarticlenews-ianstata-motors-to-raise-up-to-rs-500-cr-via-ncds-117032401323_1htmlTata Motors to raise Rs 500 cr via NCDsThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecommarketstata-motors-to-raise-rs-500-cr-via-ncdsarticle9599744eceTata Motors to raise up to Rs 500 crore via NCDsThe Statesman (Web Edition)httpwwwthestatesmancombusinesstata-motors-to-raise-up-to-rs-500-crore-via-ncds-1490338566html

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Dealers ask companies to take back BS3 vehicles Pankaj DovalThe Economic Times (Web Edition)

New Delhi Automobile dealers have asked companies to take back unsold inventory of Bharat Stage 3 (BS3) vehicles -worth Rs12000 crore -if the Supreme Court and green authorities do not permit their sale from April 1

The retailers represented by the Federation of Automobile Dealers Association (FADA) said a refusal to take back theprevious-generation vehicles (an inventory of nearly 9 lakh units) will be catastrophic for their business and result into large-scalelosses and even closure of many retail points

FADA has sent an urgent missive to auto industry body Society of Indian Automobile Manufacturers (Siam) as well as to TataMotors and Ashok Leyland the two manufacturers which have a large amo unt of BS3 inventory lying in the market

ampldquoWith the new developments that have happened in the Supreme Court and the fact that a ruling to not sell and register BS3vehicles from April 1 could be one of the outcomes of the legal process I would urge you to agree on a consensus within Siam onthe return of unsold inventory lying with our membersampldquo FADA president John K Paul said in the letter FADA said it hasreceived ampldquonumerous representationsampldquo from its members on the issueampldquoThere is a sense of panic andnervousness among our membersampldquo the dealer body said adding that the move could have a ampldquodisastrous financialimpactampldquo on the dealers

The issue of BS3 inventory has become a major headache for many auto companies as some manufacturers like Bajaj Auto andDaimlers BharatBenz have broken ranks and are bat ting for sale of only the cleaner and more efficient BS4 vehicles

Those in support of sale and registration of BS3 inventory even after April 1 include companies such as Tata Motors Mahindra ampMahindra Ashok Leyland Hero Moto Honda Motorcycle and Scooter India (HMSI) TVS as well as Siam

The confusion stems from the fact that while a 2015 notification from the road transport and highways ministry spoke aboutmandatory manufacturing of BS4 vehicles from April 2017 it made no mention of whether the sale of BS3 inventory would beallowed In October last year the Supreme Court-mandated Environment Pollution Control Authority (EPCA) directed vehiclemanufacturers that no nonBS4 vehicle will be registered after April 1httpeconomictimesindiatimescomindustryautonewsindustrydealers-ask-companies-to-take-back-bs3-vehiclesarticleshow57805808cms

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EPCA moves SC to stop sale of vehicles compliant with BS-III old emission norms Apurva VishwanathThe Economic Times (Web Edition)

New Delhi The Environment Pollution Control Authority (EPCA) on Friday moved the Supreme Court seeking to stop the sales ofvehicles compliant with Bharat Stage-III (BS-III) or old emission norms from 1 April

ampldquoBS-III vehicles will only add to the pollution and auto makers cannot be allowed to sell such vehiclesamprdquo said senioradvocate Harish Salve appearing on behalf of EPCA a statutory authority

A bench headed by justice Madan B Lokur suggested registration of BS-III vehicles could be allowed on imposition of acompensatory cess

EPCAamprsquos plea comes days after Bajaj Auto filed a similar petition before the apex court to stop the sale of BS-III vehiclesSeveral auto makers have such vehicles in their inventories

In January 2014 the centre had notified that all vehiclesampmdashpassenger and commercialampmdashmust be BS-IV compliantSeveral car makers have said that the notification is unclear as to whether it applies only to manufacture of vehicles or also to sales

According to an affidavit filed by the Society of Indian Automobile Manufacturers (Siam) an industry body manufacturing of BS-IIIvehicles has not decreased after the centreamprsquos notification

Hero Motors has 297000 vehicles the highest number out of the total 671000 unsold BS-III vehicles

The court will hear the case next on 27 MarchhttpwwwlivemintcomPoliticsUcGq2SW8iTro8NQ4VT26CNEPCA-moves-SC-to-stop-sale-of-vehicles-compliant-with-BSIIIhtml

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Gujarat High court refuses to stay NGT ban on govt buying diesel vehicles The Economic Times (Web Edition)

Ahmedabad Gujarat high court on Thursday refused to lift the stay on buying diesel heavy vehicles imposed on the stategovernment and its arms by the National Green Tribunal New Delhi after the government claimed the NGT in Delhi did not have thejurisdiction

The high court said the state government has to first raise this issue of territorial jurisdiction before the NGT which has scheduled a

hearing on the subject on March 28 With this the HC adjourned the matter till March 31

The state government has been restrained from buying heavy diesel vehicles by NGT New Delhi in response to an application filedby one Mushtaq Qadri who first moved the NGTamprsquos Pune bench and then shifted his plea to Delhi The state governmentcomplained that Qadriamprsquos application is not maintainable

After NGT passed an ex-parte order on February 16 after the state government did not respond to notices the government finallyfiled an affidavit on March 10 and listed the steps it has taken to curb pollution and how surveys of old diesel vehicles wereconducted

It also said that it is steadfast in conserving the ecology and protecting the environment and aims for sustainable development of thestate

ampldquoThe government is actively ensuring reduction in vehicular pollution in the state by introducing implementing and enforcingpracticable measures permissible in law The government assures to extend all possible assistance and take all reasonable stepsas permissible in law to fight the menace of vehicular traffic as far as is practically feasible and so long as it is allowable within theframework of existing lawsamprdquo the governmentamprsquos affidavit before the NGT readshttpautoeconomictimesindiatimescomnewsindustrygujarat-high-court-refuses-to-stay-ngt-ban-on-govt-buying-diesel-vehicles57810936

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Number of vehicles in Bengaluru rises by a mind-boggling 6099 in 40 years The Economic Times (Web Edition)

The current vehicle population in Bengaluru stands at 6722 lakh In the absence of an efficient public transport system privatevehicles dominate the cityamprsquos landscape There are 4654 lakh two-wheelers (70) 1301 lakh cars (19) 135 lakh taxis and171 lakh autorickshaws All this with a population of a little over one crore

When the cityamprsquos population was 1664 lakh (in 1971) the vehicle population was just around one lakh Nobody ampndash noteven the planners ampndash saw what was to come So while the vehicle boom overtook the city every other piece of infrastructurewas left far behind

The cityamprsquos road length for instance was 960 km in 1974 While the vehicle growth from 1976 to the present is 6099 roadlength increased by 1254 only (now at 13000 km)

Only 586 petrol pumps fuel the cityamprsquos vehicles The shortage of petrol stations is attributed to high land prices and lowrevenues from sale of fuels In 1970 the city had 94 petrol stations

The cityamprsquos traffic police wing was formed in 1930 with a staff strength of 40 policemen in the Halasuru Gate police stationThe current strength of the traffic police is 3462

The first traffic signal was installed at the Town Hall ampmdash then the busiest junction ampmdash in 1963 The junction in 1962 saw27000 vehicles (including 14000 bicycles and 11000 automobiles) crisscross it every day between 8 am and 8 pm

The number of traffic signals went up to 11 in the 1970s MG Road - Brigade Road Junction Oriental Circle Basaveshwara CircleMalleswaram Circle Corporation Circle City Market Circle State Bank of Mysore Minerva Circle Bharath (Talkies) Circle were allsignalised

At present there are 353 traffic signals in the city and 193 roads are one-ways

Did you knowacircndashordm By 1831 a road connecting Naikneri and Mysore passed through Bangalore and there was another road connecting Bangaloreand Harihar The latter was perhaps the only road worth the name according to a British colonelamprsquos report

acircndashordm These roads and most other pedestrian roads were not in good condition It is said that people moving towards Bangalore werestranded for days with their luggage due to bad road conditions in the rainy season

acircndashordm During 1831-56 a sum of Rs 2075 lakh was spent on roads in the Bangalore district

acircndashordm Around 1862 roads in Bangalore were classified as 1) I Class or Imperial roads -212 km 2) II Class or Provincial roads - 98 km3) III Class or District roads - 70 km and 4) IV Class or Cusbah roads

acircndashordm By 1920-25 there were 239 km of Provincial roads and 732 km of district roads

Improve Public TransportUrban mobility expert Ashwin Mahesh said the registration of new vehicles could only be brought down by improving publictransport and walkability ampldquoAbout 40-45 of people in Bengaluru use public transport With easy accessibility of buses andimproving suburban rail system can take this number to 60 The road should have uniform carriage ways with wide footpath forpeople to walkamprdquo he said

Look Beyond RoadsampldquoUpgrading road infrastructure does not solve traffic congestionamprdquo MA Saleem former Additional Commissioner ofPolice (Traffic) Bengaluru City said ampldquoThe registration of cars cannot be stopped as it is the aspiration of the people ratherthan a means of conveyance At any given time not more than 15 lakh vehicles are on the road in Bengaluru There are many who

use BMTC or Metro despite owning a private vehicle Only a good and affordable public transport system can be an answer toBengaluruamprsquos trafficamprdquo he addedhttpautoeconomictimesindiatimescomnewsindustrynumber-of-vehicles-in-bengaluru-rises-by-a-mind-boggling-6099-in-40-years57808536

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Govt unveils online tools for vehicle registration driving licence PTISee this story in The Economic Times (Web Edition)

New Delhi The government has introduced new online systems for vehicle registration and driving licences aimed at simplifying theissuance process and curbing corruption

Provisions regarding issuance of learners licence and driving licence are contained in the MV Act The ministry has introducedonline based citizen-centric application Vahan 40 and Sarathi 40 under digitisation to ease the processes and curb corruptionMinister of State for Road Transport and Highways Pon Radhakrishnan told the Lok Sabha in a written reply

The minister said 85 road transport offices under Vahan 40 and 235 road transport offices under Sarathi 40 have been brought tothe centralised platform

Besides the ministry has notified that fitness certificate for renewal of a motor vehicle can be obtained from a state or a unionterritory other than the state or the UT where the vehicle is registered the minister said

He added that the central road fund (CRF) rules have been amended marking 10 per cent of CRF allocations for road safetyimprovement works for state roads

The amount of funds likely to be allocated in 2017-18 is about Rs 720 crore which is 10 per cent of CRF allocation to states andunion territories for state roads (except village roads) he saidhttpautoeconomictimesindiatimescomnewsindustrygovt-unveils-online-tools-for-vehicle-registration-driving-licence57809041

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Goa records two vehicles for every licence holder The Economic Times (Web Edition)

Panaji With over 200 vehicles being registered daily on an average in Goa it wont be long before the density of traffic reaches apoint of saturation in the tiny state

Data provided in the economic survey of the state which was released on Thursday states that around 69 of the vehiclesregistered are in the category of two- wheelers This is followed by cars and jeeps including taxis which account for about 22 ofthe vehicle population in the state

Data available since 2012 reveals that on a average 73000 vehicles are registered in the state every year In the last two financialyears itself the state witnessed the registration of over 74000 vehicles each year

With the total vehicular registration figures till February 2017 standing at over 12 lakh vehicles and over six lakh driving licencesissued the scenario could well be that of each driver in Goa possessing two vehicles South Goa accounts for 54 of the totaldriving licences issued

The transport department records an average of 300 road accidents each month of which around 25 are categorized as fatalTwo-wheelers top the list of vehicles involved in road accidents followed closely by cars and trucks

The economic survey states that the Goa State Interim Compensation to Road Accident Victims 2015 scheme has been modified toprovide financial assistance to road accidents victims irrespective of an existing insurance cover So far over Rs 48 lakh has beendistributed among 28 beneficiaries KTCL has recorded 67 accidents in 2016-17 (February) In 2015-16 it recorded 70 accidents

Data available since 2012 reveals that on a average 73000 vehicles are registered in the state every year In the last two financialyears itself the state witnessed the registration of over 74000 vehicles each yearhttpautoeconomictimesindiatimescomnewsindustrygoa-records-two-vehicles-for-every-licence-holder57810845

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IIT-BHU students excel in sport vehicle building contest The Economic Times (Web Edition)

Varanasi The all-terrain vehicle (ATV) designed by students of mechanical engineering department of Indian Institute ofTechnology Banaras Hindu University (IIT-BHU) that participated in the recent national level sporting vehicle building event BAJASAE (Society of Automotive Engineers) India-2017 gave an outstanding performance and made it to the top 10 in cost reportpresentation

Last year a team Spitzeneiter comprising about two dozen students of mechanical engineering department had designed and

manufactured a lightweight ATV that participated in Baja SAE India competition held in Indore in February 2016 Despite the best ofefforts the team failed to leave its mark

This time a different set of mechanical engineering students (Team Inferno) under the supervision of HoD AK Agrawal andassistant professor Rashmi R Sahoo came up with a modified version of the ATV which stood out from the rest at the BAJA SAEcompetition held in Indore from February 14-21

The ATV that was unveiled in presence of IIT-BHU director Rajeev Sangal has been designed in a way that it can sustain extremeroad conditions like rocky or uneven terrain high inclinations traversing boggy roads that may offer extremely loose ground withminimum traction and stability

Talking to TOI on Thursday project supervisor and faculty advisor Rashmi R Sahoo said The ATV designed this year underwentmajor design transformations to help improve its performance We selected a continuously variable transmission (CVT) system anda 305 cc Briggs and Stratton engine was employed for propelling the car

Custom-made knuckles were used and ergonomics of the vehicle saw changes like improvement in seat assembly pedal positionand movement thus ensuring comfort and safety of driver Besides on the technical front weight reduction custom-made wheelhub on all four tyres transmission subsection spool transmission instead of open differential were major changes

Team lead and third year mechanical student Kunal Kundu said that the overall size of the vehicle was reduced along with trackwidth which resulted in better maneuverability

We cleared the virtual round of computations and stood first among all participating IITs We were among top 10 of 150participating teams in cost report presentation and design report also saw substantial improvement as compared to last year whilesales report fetched us appreciation from judges panel

Our team cleared engine test on first day and technical inspection on second Our ATV performed well on tracks Kundu said TheBAJA SAE India is an inter-collegiate design competition run by the Society for Automotive Engineers (SAE) wherein teams fromuniversities across the world design and build small off-road vehicles with engines of the same specification

Participating teams comprise under-graduate and post-graduate engineering students and as a team they are tasked withdesigning building testing racing and promoting a single-seater four-wheeler offroad vehicle

It follows the BAJA SAE International rules and procedure The objective is to come up with such designs that can withstand theharshest elements of a rough terrain with easehttpautoeconomictimesindiatimescomnewsindustryiit-bhu-students-excel-in-sport-vehicle-building-contest57810776

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Interviews amp Features

Mahindra seeks to make luxury electric cars under Pininfarina brand Amrit Rajmint (Web Edition)

New Delhi Mahindra and Mahindra Ltd wonamprsquot mind losing money on its electric vehicles (EVs) business till such time as theEV game picks up Pawan Goenka managing director of the firm said MampM is pursuing its electric dream on two fronts heexplained with the first being mass market and the second luxury under the Pininfarina brand which will largely be modelled on thelines of Tesla Inc

Edited excerpts from an interview

You have big plans for electric vehicles

Yes If you put bits and pieces of what we have been talking about together we will be playing at two ends One end we hope willbecome mass market once the floodgates open

Do you think there will be more subsidies

I donamprsquot think so Subsidy also becomes a drain on the exchequer Subsidy has to be such that it makes the offering viable forconsumers Consumers will not buy just because it is an electric vehicle They will buy because it makes sense to the wallet Todaywe are just short of that Another Rs40000-50000 difference will get us there If the pressure is on us to bridge that gap by workingon reduction of costs and we are not making money otherwise that pressure is much higher than if you start making money So it isokay for us to be under some pressure to reduce the price of electric vehicles but not to the extent that we give up I am on the sidethat says let me work on filling the gap

But what needs to be done first is push volumes Without volumes I cannot fill the gap What the government needs to do is not(think) how do you incentivize the financial part of it but how do you create a condition for more volumes In places like Delhi it isvery easy where they can say that in peak time you cannot ply small commercial vehicles except if it is electric I donamprsquot needanything else Then the volume will come

And what are your plans for the higher end

Pininfarina started as a dream but we still have to worry about financial viability Unlike many other electric car companies which aresupported by investors who are looking to make it big in the future we will have to ensure that it makes prudent business sense

The company that has made electric vehicles respectable is Tesla Before Tesla electric cars were seen as something that got youfrom point A to point B uncomfortably Tesla made them a matter of pride So thatamprsquos the difference that they have made butat a cost They are not making money We would like electric vehicles to become a matter of pride not because they are electric butbecause they are great cars Thatamprsquos what Tesla has done Pininfarina is the brand that we have and with Indian expertise inelectric it becomes a natural way for us

Two-wheelers have not really done well for you

It has not worked out in the manner that we wanted it to But we have sort of completely changed the direction in the two-wheelerbusiness There are three businesses that were not making money for usampmdashtwo-wheelers trucks and electric vehicles EVsare a long-term bet and we will continue to remain in the game till there is a game remaining Frankly it is one business where if wecan make a difference we donamprsquot mind losing money In CVs (commercial vehicles) we are over the hump Next yearbecomes very important with BS IV coming in Two-wheelers was the only area where we did not see a possibility of a quickturnaround

Mahindra announced that it will create a manufacturing base outside India Is that on

What we said is that we need to be expanding outside India as every global company has significant manufacturing capabilitiesoutside India and we donamprsquot In the tractor business we do but in automotive we do not and therefore we are looking for asecond home market which will become an export base for us We are in the process of deciding what that would be

Are there any specific geographies that you are looking at

We are looking at the Asean (Association of Southeast Asian Nations) region Basically there are four clusters of markets for ourkind of vehiclesampmdashLatin America African nations Asean and China Volume is in Asean So thatamprsquos what we arelooking at

Are you considering acquisitions

If an opportunity comes up we will do what makes more business sense Today in the auto industry there is an abundance ofcapacity Therefore it is possible for us to find a brownfield plant where we can invest some money to do what we want to do Sothat would make more financial sense than to taking the greenfield route

How do you plan to synergize your two-wheeler business with PMTC (Peugeot Motorcycles) and BSA

There are a lot of back-end synergies in terms of sourcing from India More or less PMTC is a stand-alone business

What is CLPL

It is Classic Legend Pvt Ltd That is the name of the company that will make BSA and Jawa bikes That is the company that wehave set uphttpwwwlivemintcomCompanieszR1P2wLJgimjEAhOgbDmfIMahindra-seeks-to-make-luxury-electric-cars-under-Pininfarinhtml

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Maruti Suzuki Baleno RS Speedy update Joshua David LutherBusiness Standard (Web amp Print Edition)

In all honesty I entered the Buddh International Circuit with the thought that this was just another day at work with me behind thewheel of yet another car with a fancy name But what was to come next would simply baffle me Yes I knew there were a fewchanges in the output figures ampmdash number of cylinders kerb weight chassis and suspension But how well would all of thesechanges fit in with Maruti Suzukis latest baby the Baleno RS Settling behind the wheel I gently nudged the accelerator and thealmost instant throttle response gave me a little glee As I began pushing the RS a little harder I was thrilled at how effortlessly thishatchback responded to my demands Its little 10 litre turbocharged petrol engine is not humble in the least Like an over-eagerkid in a candy store I began redlining the Baleno RS on every gear

Mated to a five-speed transmission the Boosterjet engine turns 150Nm of torque from 1700-4500 rpm and a neat 1005bhp at5500 rpm The revs build up in a linear fashion right up to the 6000 rpm mark Pushing this hot hatch hard on the back straight ofthe Buddh International Circuit I was able to achieve a top speed of 172 kmph and ran out of track before I could up-shift to fifthgear

Maruti has also included disc brakes on all four wheels ampmdash the brakes are progressive immensely capable and can easilybring this hatch to a halt in seconds The suspension leans marginally on the stiffer side and feels sporty Maruti has not droppedthe ride height of the Baleno RS Even the chassis felt a little rigid thus giving the driver more control especially while takingcorners and speeding out of them What delighted me most about the Baleno RS was its tail-happy nature It will bring out its rearon sharp corners but even the gentlest of taps on the accelerator pedal will bring it back in line

Launched in the single Alpha variant the Baleno RS complies with pedestrian safety norms side and frontal offset impact normswell before the deadline Maruti has also included dual airbags seatbelts with pretensioners and force limiters ABS amp EBD and anextensive use of high strength steel in construction

MARUTI SUZUKI BALENO RS

Engine 998 cc 3-cylinder Turbocharged petrol

Transmission 5-speed manual

Torque 150 Nm1700-4500 rpm

Fuel tank capacity 37 litres

Power 1005 bhp5500 rpm

Price Rs 869 lakh (ex-showroom Delhi)httpwwwbusiness-standardcomarticlecompaniesmaruti-suzuki-baleno-rs-speedy-update-117032401467_1html

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On the style mile with the Tata Tigor P TharyanBusiness Standard (Web amp Print Edition)

The Tigor is the latest style statement from Tata Motors It is quite similar to the Tiago right up to the C-pillar that slopes into awell-formed boot giving the Tigor a stylish notchback look

No wonder the car is called the StyleBack Tigor by the company The moment I gazed at the car I realised that the fascia bore astriking resemblance to the Tiago The Tigor has a dual-coloured bumper with the Tata Signature Grille which is accentuated with achrome humanity line at the front with the looks further enhanced by the crystal-like smoked projector headlampsUnfortunatelythere are no DRLs (daytime running lights) which are in vogue these days

The side profile of the car is enhanced with 15-inch alloys for the petrol variant while the diesel variant has to make do with only14-inch alloys Tata Motors engineers and stylists have worked pretty hard to get the right design flow beyond the C-pillar The rearfeatures split tail lamps with a chrome strip between them and a long LED stop lamp fitted high above the descending roof line atthe rear

Tata Motors has given a darker shade to the dual tone dashboard with the centre console area sporting a piano black finish Thesmart seats offer good under-thigh and back support The rear seat now comes with an arm rest in the middle

As for storage spaces for cups bottles and mobiles there are 24 utility spaces within the cabin There is also a huge boot space ofaround 419 litres The traditional push-downpull-up lock mechanism that is there on the inner door frame act as the door lock

The Tigor now has two 12V power outlets one in the front console area and the other one on the floor console area the latteraddressing the charging needs for those in the rear seat Automatic climate control comes as a new feature The car comes witheight Harman speakers Whatamprsquos new here is that the infotainment system comes with a five-inch touchscreen enabled withvideo playback voice command recognition SMS readout and display for the rear parking assist camera Steering mountedcontrols can adjust volume and activate voice control While the system is equipped with a comprehensive app suite it is sadlycompatible only with Android smartphones

The car does not seem underpowered at all despite the fact the Tigor is now 50 kg heavier in its notchback avatar Both enginesare available with multi-drive modes ampmdash Eco and City The steering wheel is tilt adjustable but is not telescopic The electricpower assisted steering is designed for a light steering feel and for easy manoeuvring Despite its added length the car is planted tothe road at high speeds and with its dual path suspension in front and rear allows for a good drive and handling NVH levels inboth petrol and diesel are well under control

When it comes to safety the Tigor has dual front airbags an energy absorbing body structure anti-lock braking system withelectronic brakeforce distribution and corner stability control for improved braking efficiency

Tata Tigor

Engine Revotorq 1047cc 3-cylinder (diesel) Revotron 1199 cc 3-cylinder (petrol)

Transmission Manual 5-speed

Power 69hp4000 rpm (diesel) 84hp6000 rpm (petrol)

Torque 140Nm1800-3000 rpm (diesel) 140Nm1800-3000 rpm (petrol)

Price To be announcedhttpwwwbusiness-standardcomarticlecompaniestata-tigor-style-mile-117032500002_1html

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Driven by Fashion Maruti Suzuki Hindustan Times (HT City)

Astar-studded evening celebrated NEXA Lifestyle on the final day of the recently concluded Amazon India Fashion WeekAutumn-Winter 2017 in the Capital Here Maruti Suzukiamprsquos pioneer initiative for premium experience NEXA partnered withFashion Design Council of India NEXA had collaborated with six ace designers Dhruv Vaish Kommal amp Ratul Sood Nought Oneby Abhishek Pawan Sachdeva Rohit Kamra and Sahil Aneja who encapsulated NEXAamprsquos monochrome theme in their ownunique ways incorporating the NEXA coloursampndashampndashblack white and chrome This creative blend of designs were by allthe six designers who had unique showstoppers at the event Dhruv Vaishamprsquos collection Noire in black with highlights of whiteand chrome had wrestler Sangram Singh walk the ramp while actor Dino Morea charmed the audiences with Sahil Anejaamprsquosartistic ensembles titled Restricted

Actor Prateik Babbar turned showstopper for Kommal amp Ratul Soodamprsquos collection Skylight based on an architectural skyline ofan urban city Actors Nora Fatehi and Angad Bedi walked the ramp with Pawan Sachdeva Singer Anushka Manchanda walked forAbhishekamprsquos Mayday collection inspired by the tactical uniform of the armyamprsquos black-ops team which carry out missionsunder extreme conditions Actor Richa Chadha stepped onto the ramp for Rohit Kamraamprsquos Yin amp Yang collection in royalbreeches and half jacket

At the event RS Kalsi executive director marketing and sales Maruti Suzuki India Limited said ampldquoWe are delighted toassociate with FDCI for Amazon India Fashion Week 2017 This event is about bringing new trends for the new-age customerssimilar to NEXA which is at the forefront of bringing innovation by delivering new experiences A NEXA inspired collection wasshowcased by six designers for the Autumn-Winter collection at the AIFW 2017 in line with NEXA philosophy of beingmonochrome innovative and globalamprdquo

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Is Honda WR-V a worthy alternative to Honda City Asian Age (Web Edition)

Hondas first sub 4-metre crossover the WR-V starts at Rs 775 lakh for the base petrol and goes all the way up to Rs 999 lakh forthe top-end diesel It is a bit expensive than its immediate rivals like the Maruti Suzuki Vitara Brezza and the Hyundai i20 Active

For instance the top-spec WR-V costs more than the Vitara Brezzas ZDI+ variant which rules the compact SUV roost Its a similarstory when you pit it against Hyundais cross hatch the i20 Active The fully loaded SX variant costs Rs 22000 less compared tothe WRVs VX and yet offers goodies such as projector headlamps Android Auto and Apple CarPlay as well as six airbags On theother hand for about Rs 20000 extra the Ford EcoSport Titanium+ makes a strong value case with its butch SUV looks 17-inchalloy wheels and side and curtain airbags The only feature missing from the three rivals we discussed is the sunroof Even thougheveryday usability in a sultry-weathered country such as India is limited it is definitely a big draw for prospective buyers

All of this brings us to the question - why should one buy the Honda WR-V Wed like to think of it as a cut-price alternative to theHonda City No we havent lost our marbles And yes we know the WR-V gets a rather underwhelming 90PPS 12-litre petrolengine compared to the Citys likeable 115PS 15-litre unit Set that aside here are three solid reasons why the WR-V deserves adekko if you are considering the Honda City

All the bells and whistlesThe top-spec VX variant of the WR-V gets all the bells and whistles you would need On the outside you get LED daytime runninglamps and 16-inch alloy wheels Step inside theres the same 70-inch touchscreen that Honda likes to call the Digipad and thesame touch-operated automatic climate interface The WR-V also gets the one-touch open and close sunroof In fact the dieselvariant takes things one notch ahead by offering push-button start as well as cruise control

No dearth of space The City is a practical spacious sedan - wed agree That said the WR-V is no less Since it is based on the same platform as theHonda Jazz it inherits the hatchbacks biggest strength - space Theres plenty of room for five occupants on the inside and thegenerous 363-litre boot will swallow a weekends worth of luggage without a hiccup Yes it isnt as accommodating as the Citys510-litre boot but you do get a larger vertical loading area and the seats can be tucked away altogether if you need to haul someserious luggage

Ground ClearanceLoad the car up with passengers and the City is bound to make friends with speed breakers The WR-V on the other hand gets ahealthy 188mm of ground clearance thats 23mm more than the sedan In case roads in your locality resemble the lunar surfacethe cross-hatch is more adept at tackling those as well Its no hardcore mud-plugger but it will be fine with some casualrough-roading that will only cause heartburn in the City

To top it all off theres the price Compare the VX trims of both cars and the WR-V is cheaper by Rs 265 lakh in case of the petroland Rs 287 lakh as far as diesel is concerned Thats quite a lot of saving isnt ithttpwwwasianagecombusinessautos240317is-honda-wr-v-a-worthy-alternative-to-honda-cityhtml

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Cars SUVs MUVs

Maruti Suzuki protesting workers demand judicial probe into 2012 violence case Chetna ChoudhryThe Economic Times (Web Edition)

Gurugram Over 8000 workers most from across Gurgaon and Rewari held a rally on Thursday to protest against the verdict in the2012 Maruti violence case The protesters claimed the convicts were falsely implicated in the case and demanded a judicial probeinto the violence as well as re-hiring of all the workers who were sacked after the unrest

The protest march began at 315 pm when nearly 3000 workers from Maruti Suzukiamprsquos Manesar plant walked around 5kmfrom the factory gate to Tau Devi Lal Park shouting slogans against the district courtamprsquos judgment At the park they werejoined by as many as 5000 workers from 80 unions and over 200 factories from across Gurgaon Rewari Alwar Faridabad andNoida

The protesters held a two-hour meeting at the park where they reiterated their demand for a judicial inquiry into the unrest Theyalleged the convicted workers were picked up by the police from their houses on the basis of the list submitted by the managementThey also claimed the convicts were assaulted and made to sign on blank papers which were later submitted in the court as theirconfession

ampldquoThese convicts are innocent and we will appeal against the district courtamprsquos judgment in the Punjab and Haryana highcourt We will request the court to conduct a judicial inquiry as well so that the truth is revealed We want all the 13 workersconvicted of murder in the case to be releasedamprdquo said Kuldeep Janghu general secretary Maruti Suzuki Workers Union

The workers also demanded re-hiring of the 546 workers whose services were terminated by the Maruti management following theviolence ampldquoThey terminated 546 workers despite the special investigating team naming only 214 of them in its report Noweven the sessions court has acquitted 117 of those who were implicated in the case The company should now take thembackamprdquo said Khushi Ram head of the unionamprsquos provisional working committee

To tackle any untoward incident as many as 500 policemen and two battalions of reserve forces were deployed in the areahttpautoeconomictimesindiatimescomnewsindustrymaruti-suzuki-protesting-workers-demand-judicial-probe-into-2012-violence-case57807379

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Honda Cars India expects negative growth in FY17 hopeful for FY18 IANSSee this story in The Economic Times (Web Edition)

Kolkata Honda Cars India (HCIL) is expecting to complete the current financial year ending this month with a negative growthover last year but is hopeful to achieve a positive growth in sales in 2017-18 a company official said on Friday

In the last financial year (2015-16) we sold 192 lakh units with a growth of about two per cent over the year earlier This year wewill have a negative growth the car makers Senior Vice President (Marketing amp Sales) Jnaneswar Sen said here

The company exports about 5000 cars a year he said

We had a problem in the initial months of this fiscal as the market moved rapidly towards petrol We had a lot of diesel stocks Wehad to correct that first Now we have recovered and in February we have seen a positive growth We will achieve a positivegrowth in the next fiscal Sen said

Explaining the possible reasons for drop in sales the companys President and CEO Yoichiro Ueno said Honda City is our mainselling car However it is in the final year of MMC and we squeezed its supply

According to official the car maker has been tapering down supplies of its top selling car so that it can launch the new version of themodel

Its production capacity stands at around 24 lakh units from its two plants in Greater Noida in Uttar Pradesh and Tapukara inRajasthan We have room to expand the capacity in Tapukara plant Ueno said at the launch of Honda WR-V here

Speaking about its Gujarat plant the CEO said land acquisition is still going on and the company is not in a hurry to commissionthe plant It is a part of the long term preparation and is for fulfilling the long term commitments he said

The car maker saw a short term impact of demonetisation

Due to demonetisation we have faced tough customer sentiment in November and December last year We however started tosee recovery in January and February We saw 30 per cent decline in traffic in November and 20 per cent in December Ueno saidadding that some postponed demand due to demonetisation is expected to be added this year

However Sen said the car producer would be in the highest bracket of tax rates under the Goods and Services Tax

Prices of cars are expected to remain at the same level under the GST as compared to the current prices he addedhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarshonda-cars-india-expects-negative-growth-in-fy17-hopeful-for-fy1857811532

Honda cars to face de-growth this fiscalThe Hindu (Web Edition)httpwwwthehinducombusinessIndustryhonda-cars-to-face-de-growth-this-fiscalarticle17642645eceHonda cars to face de-growth this fiscalFinancial Chronicle (Web Edition)httpwwwmydigitalfccomcompanieshonda-cars-face-de-growth-fiscal-127Honda India admits to tougher times ahead this fiscalThe Times of India (Web Edition)httptimesofindiaindiatimescomautocarshonda-india-admits-to-tougher-times-ahead-this-fiscalarticleshow57810763cms Honda growth in India to take a hitAsian Age (Web Edition)httpwwwasianagecombusinesscompanies240317honda-growth-in-india-to-take-a-hithtml

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Buzz around GMs India exit gets loud as it loses market share at fast pace Sohini DasBusiness Standard (Web amp Print Edition)

Ahmedabad Speculation is gaining ground that US-based car major General Motors (GM) is contemplating exiting India in thecontext of the companyamprsquos fast-reducing market share which is now 094 per cent in the country

Its dealers are in an exit mode with the carmaker not giving any indication on its product launches Sources said GM could sell itsTalegaon assets to a global player which might contract-manufacture cars for it A curious case is of dealerships From 223 salesoutlets in November 2015 to 168 outlets at present Sample this Renault India a late entrant to the Indian market is planning totake the number of its dealers to 320 by the end of the year from 270 now

For GM which has sold about 24505 cars during April-February 2016-17 it works out to roughly 13 cars sold per outlet per monthDealer sources say that no dealership is viable if an outlet cannot sell at least 50 cars a month even in the smallest of towns inIndia Industry sources said that GM India had held a dealer council meeting in March Though around 15 dealers are part of thecouncil around 45 anxious dealers had turned up for the meeting No clear game plan was shared with the dealers about carlaunches etc said a source

A leading dealer who operates a network of outlets selling Chevrolet in a northern state said that he had been selling 10-15 cars permonth

ampldquoI am one of the best-performing dealers of GM in India However it is clear that the company is not serious about its Indianoperations It has not initiated talks on a shutdown because it has pay compensations to the dealers in that caseamprdquo he said

Another dealer said ampldquoIf the company is trying to burn us out so that we resign on our own we are ready to take the matter tothe judiciaryamprdquo

On its part the Federation of Automobile Dealers Association (FADA) the national automobile dealership body has communicatedto its members that the body could take up their case As such investment of around Rs 10 crore per dealer is stuck That takes thetotal to Rs 1600-1700 crore

GM India has converted its Talegaon plant near Pune into an export hub The plant is churning out the left-hand-drive hatchbackBeat for the Mexico market Meanwhile its Halol plant in Gujarat is inching towards a shutdown amid labour protests Sources saidthe company was in talks with global auto majors including Europeamprsquos PSA Group

ampldquoBoth the companies are believed to have had discussions on the Talegaon asset as the French carmaker bought theloss-making Opel division from GM recently From what it seems GM is looking at a deal by which the acquirer continues tocontract manufacture cars (for export markets) for GM in Talegaonamprdquo said a source close to the development

A GM India spokesperson said on e-mail As we have said many times GM continues to believe in the growth potential of theIndian market We will continue to closely monitor the market and evolve our product strategy accordingly We do not respond tospeculationamphellipamprdquo

A mail sent to PSA Group did not elicit any responsehttpwwwbusiness-standardcomarticlecompaniesbuzz-around-gm-s-india-exit-gets-loud-as-it-loses-market-share-at-fast-pace-117032401425_1html

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Elon Muskacirceurotrades Tesla remains unmoved by Indiaacirceurotrades pitch for manufacturing plant Jyotika Sood amp Utpal Bhaskarmint (Web Edition)

New Delhi Indiaamprsquos overtures to electric car maker Tesla Inc to set up an Indian factory have failed to deliver results ThePalo Alto US-based company has been cool to Indiaamprsquos offer of land near a major port to facilitate exports and otherincentives

Transport minister Nitin Gadkari visited Tesla last year and proposed joint ventures between the carmaker and Indian automobile

companies to manufacture pollution-free vehicles especially in commercial and public transport Prime Minister Narendra Modivisited Teslaamprsquos California facility in 2015

The National Democratic Alliance government has been trying to woo Tesla to make India a manufacturing hub for exports to southand south-east Asian countries

Gadkari said the government has tried its best to bring Tesla on board

ampldquoI have told them we will give you land at the ports but we havenamprsquot got any indication yetamprdquo he said

Queries emailed to Tesla on 22 March remained unanswered

Tesla chief executive Elon Musk said last month that the company is likely to introduce its products in India sometime in the summerof 2017

Teslaamprsquos much-anticipated Model 3 which is positioned as a mass-market affordable car will sell at $35000 in the US SomeIndians have also booked it by paying an advance of $1000

India has ambitious plans for a mass shift to electric transport by 2030 so that all vehicles on Indian roads by thenampmdashbothpersonal and commercialampmdashare powered by electricity

Experts say manufacturing in India is some time away for Tesla ampldquoJust putting up a plant for exports doesnamprsquot makesense One needs to have a large domestic market as wellamprdquo said Abdul Majeed partner and national auto practice leaderPricewaterhouseCoopers ampldquoFrom a business standpoint it makes sense for Tesla to address the product challenges build upmarket share in the US and Europe India is still some time awayamprdquo

The government wants to see 6 million electric and hybrid vehicles on the roads by 2020 under the National Electric MobilityMission Plan (NEMMP) 2020 and Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME)

Currently electric vehicle sales are low in India rising 375 to 22000 units in the year ended 31 March 2016 from 16000 in2014-15 only 2000 of these were four-wheelers according to the lobby group Society of Manufacturers of Electric VehicleshttpwwwlivemintcomIndustryHD1RA26VIOV8uwRlfSdbRIElon-Musks-Tesla-remains-unmoved-by-governments-make-in-Inhtml

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Luxury Cars

Lexus debuts in India launches 2 hybrid vehicles starting from Rs 5527 lakh (ex Delhi) Ronak ShahThe Economic Times (Web Edition)

New Delhi Lexus the luxury vehicle division of Japanese car maker Toyota has officially made its debut in India on Friday bylaunching three vehicles in the country - Lexus RX450H hybrid SUV Lexus LX 450d and Lexus ES 300H hybrid Sedan

Lexus RX450H hybrid SUV is available in two variants and is priced between Rs 107 crore - 109 crore Lexus ES 300H hybridSedan has been priced for Rs 5527 lakh (all prices ex-showroom Delhi) Prices for Lexus LX 450d will be revealed later says thecompany

Lexus will begin the deliveries from Friday itself

The company debuted about 25 years ago and the it claims to have sold over 1 million hybrid vehicles globally Lexus begins itsoperations in India with four dealerships - two in Delhi and one each in Mumbai and Bangalore

In a press conference Akitoshi Takemura Senior Vice-President said Lexus is looking to expand its product portfolio in Indiagoing forward and the priority is to make in India but for the time being the company would want to understand the luxury customerand once the column is consolidated we would see to assemble here We would be happy to contribute to PM Modis Make in Indiacampaign

Lexus RX450H hybrid SUVLexus RX450H comes to India via the CBU route and the SUV is powered by V6 aluminium petrol engine and also gets an electricmotor The car sheds out a power of 259 hp (excluding electric motor) and 3348 Nm (excluding hybrid motor) of torque The electricmotor can produce a max power of 165 hp

Lexus RX450H hybrid gets 18-inch wheels and front LED fog lamps integrated into the bumper The company has also integratedHybrid badge on the side molding of rear door The SUV gets features like Auto onoff headlamps Rain sensing wipers and insidethe car gets a 8-inch infotainment system which supports navigation and 12-speaker audio systemacirceurolsaquo

Lexus ES 300H hybrid sedanAnother vehicle launched by Lexus is its hybrid sedan ES 300h The sedan will also come to India as a completely built unit andgets a 25L petrolhybrid engine which sheds 156 hp (engine alone) and 211 Nm of torque (engine alone)

Overall total system horsepower claimed by the company is 200hp The sedan gets a front engine front wheel drive engine

Exteriors of the car looks aggressive and gets LED headlamps with partially separated with DRls Lexus is also offering 17-inchalloy wheels

Lexus LX 450dLexus LX 450d gets a 57L V8 diesel engine that sheds out 383 hp of power and 403 Lb-ft of torque This is the only diesel SUVlaunched by the Japanese auto-maker and the price of the SUV will be revealed laterhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarslexus-debuts-in-india-with-launch-of-2-hybrid-vehicles-starting-from-rs-55-27-lakh-ex-delhi57807866Lexus makes India debut with 3 models starting Rs5527 lakhThe Hindu Business Line (Web amp Print Edition)httpwwwthehindubusinesslinecomcompanieslexus-makes-india-debutarticle9600721eceref=wl_newsLexus RX and ES launched in IndiaAutocar Indiahttpwwwautocarindiacomauto-newslexus-rx-and-es-launched-in-india-404513aspxToyotaamprsquos Lexus makes India debutThe Financial Express (Web Edition)httpwwwfinancialexpresscomindustrytoyotas-lexus-makes-india-debut601738

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Toyota drives in luxury brand Lexus to India with three models Pankaj DovalPTISee this story in The Times of India (Web amp Print Edition)

New Delhi Japanese auto major Toyotas luxury brand Lexus on Friday entered India with the launch of three models priced up toRs 109 crore (ex-showroom)

Lexus introduced the RX Hybrid model priced at Rs 107 crore RX F Sport hybrid at Rs 109 crore and ES 300h hybrid sedanpriced at Rs 5527 lakh (all prices ex-showroom)

The company also unveiled its top end SUV LX450d but didnt announce the price along with the fifth generation Lexus LS whichwould be available for sales from next yearLexus is entering the Indian market with an aim to tap the growing number of luxury customers specially the Toyota customers whoare looking to upgrade

Toyota manufactures Camry hybrid already in India and many of these customers are looking to upgrade Therefore it is the righttime for Lexus to enter the Indian market so that our customers dont go to other brands Lexus International President YoshihiroSawa told PTI

The Indian luxury customers are growing and its part of our future strategy to tap them he added

The company will start retailing the products from four dealerships - Delhi Gurgaon Mumbai and Bengaluru - to start up in thecountry

Additionally it will also establish service centres in Chandigarh Hyderabad Chennai and Kochi

Lexus India Senior Vice President Akitoshi Takemura said they will have to first see the response in the country before before takinga call on having local manufacturing in India

There is scope for local manufacturing we support Prime Ministers Make in India initiative but for the time being we are juststarting operations We will have to see how the market functions If volume consolidates and reaches a critical level we may thinkof local manufacturing Takemura said

Currently the models would be imported from Japan he added

When asked about competition in the luxury segment with established brands like Audi and Mercedes already present for more thana decade Takemura said the they would first like to establish in the country and would not go for big numbers

Our pricing position is higher than JLR or German brands We havent set a sales target as such and would like to create Lexusbrand in the country he said

When asked about synergy with Toyota brand he said that some of the existing dealers would also be able to provide servicingfacilities to the Lexus customers as they are already experienced on providing service to Toyota Camry hybrid customers

Bullish on the Indian market Takemura said High net worth individuals are growing in India getting more affluent and they arespending on luxury items

Besides Lexus would like to provide the solution of eco friendly mobility in luxury segment he saidhttptimesofindiaindiatimescomautolaunchestoyota-drives-in-luxury-brand-lexus-to-india-with-three-modelsarticleshow57809600cmsToyota drives in luxury brand Lexus to India with 3 modelsThe Hindu Business Linehttpwwwthehindubusinesslinecomcompaniestoyota-drives-in-luxury-brand-lexus-to-india-with-3-modelsarticle9599963eceref=wl_newsToyota drives in Lexus to IndiaFinancial Chronicle (Web amp Print Edition)

httpwwwmydigitalfccomcarstoyota-drives-lexus-india-143Toyotaamprsquos Lexus debuts in IndiaThe Hindu (Web amp Print Edition)httpwwwthehinducombusinesstoyota-drives-in-luxury-brand-lexus-to-india-with-3-modelsarticle17641497eceToyota drives in 3 Lexus models to India top price Rs 109 crBusiness Standard (Web Edition)httpwwwbusiness-standardcomarticlepti-storiestoyota-drives-in-luxury-brand-lexus-to-india-with-3-models-117032400400_1html

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We are not an expensive version of Toyota Yoshihiro Sawa Ajay ModiBusiness Standard (Web amp Print Edition)

Luxury car maker Lexus part of Japanese auto major Toyota has announced its entry into the crowded Indian market dominatedby the German trio ampmdash Mercedes Audi and BMW The company will take baby steps to grow volumes It is starting with fourdealerships Lexus unveiled five vehicles (imported) mostly hybrids priced up to Rs 109 crore Yoshihiro Sawa president of LexusInternational told Ajay Modi in an interaction that Lexus would not run after volumes

Edited excerpts

In India just one per cent of the car market forms the luxury segment How do you view the opportunities here

The luxury car market in India is growing rapidly though by way of volumes it is not big But environmental requirements are gettingsevere Based on Toyotaamprsquos performance a Camry or Corolla or Innova user may look for some environmentally benignsolution Lexus is one such solution Therefore this market has potential and we believe it will continue to grow

Almost every global luxury brand is present in India Where do you position Lexus

Lexus is a young brand of 28 years European luxury car makers especially Mercedes have a much longer history So our brandis a baby Entering the domain of German luxury companies is very challenging We have had success in markets like the US whenwe entered Lexus was thought to be a boring brand But five years ago we made it more aggressive and different from theEuropean brands We have brought more style and are doing a lot of lifestyle events social media activities and tie-ups withmovies We have introduced yachts and have many activities with superior products Such a combination is new for the luxurymarket We have rebuilt platforms and Lexusamprsquo running performance is also strong So now we have unique features andactivities That is our strategy We hope to appeal to many fresh customers who see that we are different from others Wedonamprsquot pursue sales We need to be unique and build the brand Eventually our share can gradually grow It is a verychallenging direction but we have chosen it

What kind of synergies you draw from Toyota

Some people think that Lexus is an expensive version of Toyota However we are developing vehicle-sharing components withToyota but the design and testing are different So we believe our product is different from those of Toyota Some customersrealise that we are different some do not Toyota has quality durability and reliability By utilising the superior quality of Toyota wecan put additional value and performance The branding activity also has to be differentfrom Toyotaamprsquos

SUVs drive lots of sales in the luxury segment now How do you see this trend

Globally the SUV market is becoming bigger It started in Japan the US and Europe Every country is now seeing this Still inmarkets like China and India the sedan remains strong In India the sedan looks a luxury product but the lifestyle requires SUVsThe sedan wonamprsquot die But this growth trend for SUVs will continue

In India luxury also attracts negative attention There was a ban on 2000cc diesel vehicles in the capital region a year ago Does itconcern you

Diesel is more suitable for some products In some cases it is not We are considering diesel for very specific products For otherswe will use hybrid technology Pollution in Delhi is a serious issue and hybrids can contribute to keeping the environment cleanhttpwwwbusiness-standardcomarticlecompanieswe-are-not-an-expensive-version-of-toyota-yoshihiro-sawa-117032401433_1html

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Lexus has to be very unique to survive in India President Yoshihiro Sawa Amrit Rajmint (Web Edition)

New Delhi Japanese auto firm Toyota Motor Corp on Friday announced the launch of its luxury brand Lexus in India with three

modelsampmdashthe ES 300h hybrid sedan the RX Luxury hybrid sports utility vehicle (SUV)and the RX F Sport hybridSUVampmdashpriced between Rs5527 lakh and Rs109 crore (ex-showroom Delhi) It also showcased the LX450d SUV andfifth-generation Lexus LS sedan but did not reveal their prices In an interview Yoshihiro Sawa president Lexus International saidthat he wants the brand to be seen differently from German brands BMW AG Audi and Mercedes-Benz

Edited excerpts

What took you so long to come to India

Lexus is a young brand compared to European brands like Mercedes which has an over 100-year history In order to make Lexuscompetitive we decided to be different from them

We started with the Lexus brand in 1998 in the US In the beginning it was very successful there but not in other nations So afterwe introduced the Lexus brand in Japan Europe and China in the first decade peopleamprsquos expectations were not so goodSometimes people said Lexus is a boring brand It is fantastic but it becomes boring That was the perception about Lexus

So three years ago we decided to change the Lexus brand in order to become more aggressive Earlier we were very focused onthe US market Now it is time to think about other key markets

What you are essentially saying is that you have made the brand appealing to younger customers Do you think you will find enoughsuch buyers in India

We canamprsquot just start thinking about sales volumes because we have just started with four dealerships It is very difficult toexpect big numbers So we will focus on the Lexus brand positioning in India This is our aim

The age group that you plan to target prefers an Audi or a BMW

We donamprsquot follow our competitors even though they are successful We decided to be unique Even though in India manyyoung people appreciate a BMW or an Audi we donamprsquot fear that because though the percentage may be small people do lovethe Lexus In the US we enjoy a big share In Europe our share is very small So Europe is a kingdom for BMW Audi andMercedes In order to survive in India we have to be very unique

How would you differentiate yourself

Most important thing is to be completely different from the Germans which is visible in our design Because people first look at theappearance and then they see the interiors So they judge on that basis

Do you think Lexus has brand recall in India

No I donamprsquot think so We have just started

Jeep has also entered India and there is a recall value associated with the brand You donamprsquot seem to have that

You have to understand that our history goes back 20 years while Jeep is more than that Also people see a lot of Jeeps in themovies and on websites We on the other hand started lifestyle activities only 3-4 years ago So we have to continue doing suchactivities to build a historyhttpwwwlivemintcomCompaniesB6qHFQQBfJzvXhiJ6NGzPPLexus-has-to-very-unique-to-survive-in-India-President-Yoshhtml

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Indian market is more bent towards family oriented needs Lexus Sharmistha MukherjeeThe Economic Times (Web Edition)

New Delhi The luxury car market in India may have slowed down in recent times however Japanese auto major Toyota whichdrove in Lexus-badged luxury vehicles in the local market on Friday feels the potential to grow sales here long-term is significant

In a free-wheeling conversation Lexus Internationals Global President Yoshihiro Sawa tells Sharmistha Mukherjee the brand mayhave a shorter history compared to European rivals in India but with its proven solutions in hybrid and electric vehicle technologyLexus can contribute more substantially to address growing concerns over air pollution in the country

Edited excerpts

There have been talks of Lexus entering the Indian market several times over the past few years What triggered you foray hereconclusively

The Indian luxury car mar has grown rapidly in recent years We are making premium and hybrid vehicles here The customer herehas grown with Toyota and based on Indiaamprsquos economic growth probably some of them now want to step up This is the timeto introduce the Lexus We first made a certain reputation with the Toyota brand here and today we bring in the Lexus

Lexus is entering India at a time when German rivals are already well-entrenched in the local market How would you take oncompetition

German automobile makers especially Mercedes Benz have more than 100 years of history They invented the vehicle We have

only 28 years of history So what we can do is differentiate Our products have a design language which is completely different fromEuropean design language

Our market share is smaller than them (European rivals) but customers who love Lexus they are searching a vehicle different indesign and performance compared with the German car makers We will set up our core value unique design unique performancenot only by means of the vehicle itself but combine it with amazing experience Year-on- year we will continue with these activitiesand eventually we would like to make our own position

Lexus is also coming in at a time when the luxury car market in India declined for the first time in five years in 2016 Your thoughts

At Lexus we are always thinking long-term Fluctuations in the market will always happen But last three years prior to 2016 therehas been a steady growth of 8 in the market And the luxury segment has been very stable in terms of total volumes Last yearclearly there was a disruption because of some external factors Thatamprsquos understandable

But beyond that what we see going forward is that growth continues to be present in the range of 10-12 The expansion of HNIs inIndia will continue India is coming to its own in terms of economic potential Based on that increase in demand is expected so it isin this context Lexus is entering India

Lexus has said hybrids will be the mainstay in its model line-up India is a price sensitive market where even in the luxury segmentyour rivals have had to lower the entry-barrieramphellipHow do you plan to draw in the cost-conscious Indian buyer

We understand Mercedes BMW Audi also gives small cars with a relatively lower price range Why we are not getting into thatsegment is because our target customers are different from them

Even in HNI there are some developed people we are targeting high-end HNIs who are ready to pay for the brand the Lexusbrand the Lexus hybrid technology which will contribute towards alleviating environmental issues We are not trying to get all HNIsThatamprsquos why we are not getting into the volume game

As per your estimates how major will be this shift towards hybrid technology in the luxury car segment

It is clear electrification is the direction You will see very less internal combustion engine (ICE) going forward because all countriesare implementing CAFEacute and stricter emission regulations In India car makers will jump to BS VI And it will not stop there GloballyEuro VII Euro VIII will come in That means that ICE have to finish at some point of time that technology has to be electrified

And in that time we will have hybrids plug-in hybrids battery-electric vehicles fuel-cell vehicles The good thing for Toyota is thatwe have already sold 1 million Lexus hybrid vehicles and 10 million Toyota hybrid vehicles Components of hybrids EV fuel-cell arealso same Based on the same structure we can develop battery-electric plug-in hybrids fuel cell vehicles

Hybrids are convenient By 2050 majority of vehicles made will be hybrids plug-in hybrids electrics It (the market) has to shiftbecause of the CAFEacute and emission regulations

You are starting operation by importing cars into India The tax structure on imported cars is steep Would you consider localassembly

Yes But we just started We have to make people understand the Lexus brand first Then think about that

Does the profile of the customer in India differ from others globally

The Indian market is more bent towards family oriented needs This is a unique feature here compared with other Western nationsor the US market where buyers are more individualistic But even in India the number of individual affluent people are growing Ofcourse we are introducing the RX which is good for the affluent family and also the sedan

But eventually even in India very personalised vehicles like coupe or more specialty type of vehicle has a big potential But againobserving the Indian market through Toyota brand experience family oriented cars are very important We have make a goodoffering for the family through the Lexus brand it is one of the important things I thinkhttpautoeconomictimesindiatimescomnewsindustryindian-market-is-more-bent-towards-family-oriented-needs-lexus57815113

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Volvo Cars to cost more by up to 25 from April 2017 The Economic Times (Web Edition)

New Delhi Indian Arm of the Swedish car maker Volvo Auto India today in a press release announced there will be a revision ofprices across its car range All the models would undergo an upward revision in the Ex-showroom prices by upto 25

Volvo Carsamprsquo statement said ampldquoThe increase is due to rise in input costs which affects all models sold in India VolvoCars focus has always been to provide the best-in-class products to our customers at a competitive price with class-leading safetyand intuitive features offered as standard across modelsamprdquo

The revised prices shall be effective in April 2017 Volvo Cars portfolio in India consists of eight cars including Vovlo S60 Volvo S60Cross Country Volvo V40 Cross Country Volvo V40 Volvo XC60 Volvo XC90 Volvo XC90 Excellence (Plug-in hybrid) and VolvoS90 sedanhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsvolvo-cars-to-cost-more-by-up-to-2-557813035Volvo Auto India to hike prices by up to 2 from AprilThe Times of India (Web Edition)

httptimesofindiaindiatimescomautomiscellaneousvolvo-auto-india-to-hike-prices-by-up-to-2-from-aprilarticleshow57814841cmsVolvo Auto India to hike prices by up to 2 from AprilThe Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesvolvo-auto-india-to-hike-prices-by-up-to-2-from-aprilarticle9600526eceVolvo Auto India to hike prices by up to 2 per cent from AprilDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos240317volvo-auto-india-to-hike-prices-by-up-to-2-per-cent-from-aprilhtml

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Commercial Vehicles

Commercial vehicle production in India has dipped since December 2016 Nandini Sen GuptaThe Economic Times (Web Edition)

Chennai Despite the brouhaha over unsold Bharat Stage III or BS-III stock the commercial vehicle industry has actually producedsubstantially less numbers from December 2016 to February 2017 compared to the year-ago period and looks like March will alsobe flat to negative said industry sources

The data goes against the suspicion that some commercial vehicle makers upped production of BS-III vehicles in the run-up to theApril 1 2017 cut off - to service customers reluctant to spend more on the BS IV compliant vehicles - thus building up the 75000unit-strong unsold stock say sources

Auto industry body SIAM is currently in the process of collecting inventory data from all companies for the Supreme Court hearingon Friday

According to SIAM statistics the entire commercial vehicle segment has been witnessing flat-to-negative production growth sinceDecember 2016 and March 2017 too should not be any different The industry clocked a near 5 drop in February production at71899 units compared to 75545 units in February last year

In January 2017 production was almost flat-negative at 70988 units down from 71197 units in previous year In December the fallwas a sharp 193 from 65697 units in 2015 to 52996 in 2016 March data so far also seems to suggest that there will be flat tonegative growth compared to the 82102 units that were produced in March 2016 said an official from the industry

While SIAMs compilation will track the inventory pipeline at the factory gates and dealerships it will still not capture the stocks lyingat body-building companies

Truck buyers often buy just the chassis and the cabin and body are built separately

At any given point there will be a substantial number of vehicles at these body building companies but our inventory count will notcalculate these as these vehicles are already sold and have left the factory gates said the CEO of a CV major

The trouble say CV marketers is that customers are not willing to buy BS-IV vehicles right now because of the cost differential Inthe case of trucks the price differential is 7-10 prompting customers to delay purchase said a senior CV marketer

The CV industry has been in the middle of a controversy over whether the April 1 2017 deadline applies only to production or toregistration as well One section of manufacturers say it means both registration and production while others say it pertains only toproduction so the unsold stock can be sold even after April 1

Technically companies can continue making BS-III vehicles till March 31 because the government order is on production notregistration said another marketer In 2005 and 2010 too there was this problem of unsold stock The necessary notifications andclarifications are in place So why create confusionhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvcommercial-vehicle-production-in-india-has-dipped-since-december-201657809759

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Construction amp Agri Machinery

23 Wheelers

E-Bikes

Components

Bharat Forge divests 23 stake in power equipment JV with Alstom IANSSee this story in The Economic Times

Pune Indian multinational Bharat Forge on Friday announced divesting 23 per cent of its equity stake in the power equipment jointventure (JV) with French multinational Alstom

The company has divested 23 per cent of its shareholding in power equipment JV with GE (erstwhile Alstom)-Alstom Bharat ForgePower (ABFPL) said the city-based manufacturing behemoth in a regulatory filing to the BSE

The divestment was made as per the approval of the companys board on November 8 2016 to divest 49 per cent of its stake in theJV

The transaction for the balance 26 per cent equity will be consummated upon receipt of customer approvals for certain projectssaid the filing

Pending divestment of 26 per cent equity the company received the entire amount of $35 million (Rs 230 crore) on agreed terms ofsalehttpautoeconomictimesindiatimescomnewsauto-componentsbharat-forge-divests-23-stake-in-power-equipment-jv-with-alstom57815482

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Bosch rolls out 5 millionth power tool from its Chennai plant PTISee this story in The Economic Times

Bengaluru Bosch Power Tools India has announced the roll out of 5 millionth power tool from its Chennai-based plant

The facility which manufactures more than 60 specific power tools including eight types for artisans and tradesmen is part of theMake-in-India programme announced by the government to boost manufacturing the company said

The Oragadam plant in Chennai the first manufacturing facility of Bosch Power Tools in India has a capacity of producing twomillion power tools every year it said in a statement here

Panish PK Regional Sales Director and Business Head - India and SAARC - Bosch Power Tools said the 5 millionth rollout marksan important milestone in their journey over the past 14 years India is one of the most important and fastest growing markets forBosch Power Tools globally he said

The Power Tools Division of the Bosch Group is one of the worlds leading providers for power tools power tool accessories andmeasuring tools In 2015 its roughly 20000 associates generated sales of 45 billion euros about 85 per cent of which outside ofGermanyhttpautoeconomictimesindiatimescomnewsauto-componentsbosch-rolls-out-5-millionth-power-tool-from-its-chennai-plant57809220

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Minda Industries eyes QIP issue The Hindu Business Line

The fund-raising committee of Minda Industries on Friday approved a qualified institutional placement of shares worth Rs500 crore

The committee has fixed the floor price of the issue at Rs43666 a share and may offer a discount of 5 per cent to institutionalbuyers

On Friday the stock closed at Rs43230 on the BSE The issue may close on Wednesday (March 29) Minda Industries saidShareholders will closely monitor the response to the issuehttpwwwthehindubusinesslinecommarketsstock-marketsminda-industries-eyes-qip-issuearticle9600648ece

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Board of Rane Engine Valves reappoints L Ganesh as MD PTISee this story inDaily News amp Analysis

The board of Rane Engine Valves part of the diversified business conglomerate Rane Group today approved the re-appointment ofL Ganesh as its Managing Director

The tenure of Ganesh would be for a period of three years with effect from April one 2017 the city-based company said in a BSEfiling

Similarly the Board also announced the elevation of V K Vijayaraghavan as the Chief Financial Officer

Vijayaraghavan who joined the company as Vice-President Finance on February 16 2017 was elevated as the Chief FinancialOfficer with immediate effect it said

Shares of the company ended at Rs 56165 apiece downby 147 per cent over previous close in BSEhttpwwwdnaindiacommoneyreport-board-of-rane-engine-valves-reappoints-l-ganesh-as-md-2366958

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Allied Industries

Rubber Industry Body opens new chapter in Gujarat The Economic Times

New Delhi Marking its presence in Gujarat All India Rubber Industries Association (AIRIA) the august body of Rs 85000 crorerubber industries in India has opened its Gujarat chapter in Ahmedabad

As representative body of over 5000 rubber products manufacturers in the country (largely MSMEs) AIRIA already has offices inMumbai Delhi Chennai and Kolkata with a chapter office in Pune

With Gujarat emerging as a major industrial and now an auto hub in the country the state offers immense potential for growth ofrubber and especially auto rubber components in the country Gujarat office of AIRIA will help the rubber industry develop qualityproducts through spread of international practices technology and availability of skilled manpower said Kamal ChowdhuryPresident AIRIA while inaugurating the Gujarat Chapter office recently

The inauguration was attended by a large number of industry representatives including Mahendra Patel Chairman Mamata Groupand Bipin Patel President Gujarat Chamber of Commerce and Industry

Representatives from rubber industry included Vinod Bansal Chairman Western Region AIRIA Yashodhar Kahate Vice ChairmanWestern Region AIRIA Vinod Patkotwar Managing Committee Member AIRIA and Editor of AIRIA journal Rubber India JagdishPatel Chairman Gujarat Chapter AIRIA

Mahendra Patel Chairman of Mamata Group congratulated AIRIA for opening Gujarat Chapter and said Rubber is an establishedindustry in India with large diversified presence Yet there are a few challenges that are holding the industry especially the MSMEsector back from achieving full potential Opening of the Gujarat chapter office will help the industry work together to meet thedevelopment agenda and make the most of the Government policies

Bipin Patel President - Gujarat Chamber of Commerce and Industry expressed happiness on formation of Gujarat Chapter and saidChapter should take up such programs which would impart knowledge to the members and also improve quality of productsmanufactured by them

Chowdhury presented the Citation and Plaque of Gujarat Chapter to Jagdish Patel Chairman Gujarat Chapter AIRIA GujaratChapter members Directory was also unveiled on the occasion

AIRIA has a very robust developmental agenda Most of the constituents being MSMEs the assistance provided by AIRIA ineducating upgrading knowledge and technology has helped rubber industry to emerge as a key foreign exchange earner in thecountry As much as 40 of the revenue of MSME rubber units is coming from exports

AIRIA Gujarat Chapter will have regular seminars and workshops for knowledge sharing among the members AIRIA has urged themembers of the Gujarat region to make full use of the Chapter in educating upgrading knowledge and technology and doing needbase activities for members

Gujarat has over 500 units manufacturing rubber products Major products are tyres rubber rollers engineering products marinefenders healthcare etchttpautoeconomictimesindiatimescomnewsraw-materialrubber-industry-body-opens-new-chapter-in-gujarat57812010

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Ceat launches new range of tyres for Small Commercial Vehicles The Economic Times

Mumbai Indian tyre manufacturer Ceat has launched the Buland range of tyres for small commercial vehicles (SCVs) segmentacross the country informed the company in an official statement released on Friday

Available in multiple sizes of 10amprdquo 12amprdquo 13amprdquo and 14amprdquo the range is compatible with SCVs from the stable ofTata Motors Mahindra and Mahindra Ashok Leyland and Piaggio Buland range is available in three patterns -Buland Mile- XL RibBuland Mile-XL SL and Buland Mile-XL added the company

Nitish Bajaj Vice President- Marketing Ceat said ampldquoAs the SCV category witnesses growth in the country it becameimperative for us to provide a range of tyres to the consumer that would provide distinct benefits as per their needs andrequirements

We offer this solution with the new range of Buland tyres Ceat has always been associated with superior grip and dependabilityand these qualities will be emanated through the Buland rangeamprdquo added Bajajhttpautoeconomictimesindiatimescomnewstyresceat-launches-new-range-of-tyres-for-small-commercial-vehicles57806690

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Emissions Environment

Finance amp Insurance

NCD Shriram Transport raises Rs 600 cr PTISee this story in The Hindu Business Line

New Delhi Shriram Transport Finance Company has raised Rs600 crore by issuing non-convertible debentures (NCDs) on privateplacement basis ampldquoThe allotment committee of the company in its meeting held on March 23 approved and allotted 6000partly-paid-up secured redeemable rated listed NCDs of face value Rs10 lakh each on private placement basis for an issue size ofRs600 croreamprdquo Shriram Transport Finance Co said in a BSE filing The interest rate on the NCDs is 810 per cent and thetenure five years Shares of the company closed at Rs103025 down 015 per cent on the BSE

Top

Oil Lubricants amp Alternative Fuels

Petrol prices set to rise in Goa with increase in VAT PTISee this story in The Economic Times

Panaji Petrol prices in Goa are set to soar as Chief Minister Manohar Parrikar has announced a 15 percent hike in Value AddedTax (VAT) on the fuel

Goa government had kept petrol prices below Rs 60 per litre during last five years by reducing the VAT on it

My government since last five years has been able to maintain the promise given to the people of the state in 2012 and hasensured that the prices of Motor Spirit (petrol) did not cross the threshold level of Rs 60 per litre Parrikar said presenting the StateBudget

The prices of petrol in Goa are significantly lower compared to the neighbouring states of Karnataka and Maharashtra where thisfuel is sold at Rs 72 and Rs 76 respectively he said

It is time to review this measure in view of the enhanced spending and provisions made for various existing and new initiatives inthe Budget I propose to enhance the rate of VAT on Motor Spirit to 15 per cent Even with this increase the price of petrol will be inthe range of Rs 65 per litre which is substantially lesser than our neighbouring states the CM added

Parrikar also announced that entry tax imposed on the vehicles entering the state would be abolished once GST is introduced

Department of Commercial Taxes is fully geared to migrate over to the GST regime With the enactment of the State GST Actwhich I will bring before this House shortly the state will be set to implement GST from the expected date he said

Goa being more of a consuming state wherein services play a major role in the state economy it is anticipated that the state willgain Any shortfall will be compensated by the Union government he added

Since GST roll out is imminent I have not tinkered with the rates of various Commercial taxes However I propose to withdraw thescheme of collection of entry fee at the border points when GST is implemented Parrikar announced

The CM also proposed measures to ensure effortless travel for tourists

He said five double and five single decker hop-on and hop-off (HOHO) bus services will be introduced by the government initially inNorth Goa tourist circuit during FY 2017-18 through Goa Tourism Development Corporation (GTDC)

Similarly amphibious bus service will be commercially launched by my government to provide the tourists wholesome experienceof Goan Backwaters and to efficiently utilise inland waters of Goa for promotion of high-end tourism he said

Parrikar also proposed to convert the erstwhile Fort Aguada Jail complex into a monument highlighting Goan freedom struggle andsaid it will have facilities for a daily sound-and-light laser show for touristshttpautoeconomictimesindiatimescomnewsoil-and-lubespetrol-prices-set-to-rise-in-goa-with-increase-in-vat57812789

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Indian crude oil basket goes below $50 a barrel IANSSee this story in The Statesman

New DelhiNew York The Indian basket of crude oils went below the psychological $50-a-barrel-mark this week as global prices fellon the back of a supply glut from rising US crude inventories offsetting some of the output cut efforts from the Organisation of thePetroleum Exporting Countries (OPEC)

As per available data the Indian basket comprising 73 per cent sour-grade Dubai and Oman crudes and the balance insweet-grade Brent closed trade on Thursday at $4964 for a barrel of 159 litres which was marginally higher than the previousdays close at $4944

The US Energy Information Administration said on Wednesday that the countrys crude inventories climbed by almost 5 millionbarrels to 5331 million last week

Analysts said the rising output also weighed on the production reduction by the OPEC and its allies

The West Texas Intermediate for May Delivery erased $034 to settle at $4770 a barrel on the New York Mercantile Exchangewhile Brent crude for May delivery decreased $008 to close at $5056 a barrel on the London ICE Futures Exchange

According to the latest OPEC data its reference basket of 13 crude oils closed at $4835 a barrel on Thursday

Last November major oil producers agreed to cut output as a response to the global supply glut that had been pushing down pricesfor nearly two years

In early December oil producers outside the Organisation of the Petroleum Exporting Countries (OPEC) led by Russia agreed toreduce output by 558000 barrels per day (bpd) This came in the wake of the 13-nation OPEC cartels November 30 decision to cutoutput by 12 million bpd for six months effective from January 1

This is the first time since 2001 that OPEC and some of its rivals had reached a deal to jointly reduce output to tackle the global oilglut

Oil prices had earlier fallen by more than 50 per cent in less than two years from levels of over $120 a barrel

Indian oil marketing firms revise prices fortnightly and rates were last revised more than two months ago on January 16 with hikeson petrol by 42 paise a litre and on diesel by Rs103 both in Delhi and with corresponding increases in other states

Petrol per litre costs Rs7114 in Delhi Rs7366 in Kolkata Rs7796 in Mumbai and Rs7061 in Chennai

Similarly diesel costs Rs5902 in Delhi Rs6127 in Kolkata Rs6489 in Mumbai and Rs6073 in Chennaihttpwwwthestatesmancombusinessindian-crude-oil-basket-goes-below-50-a-barrel-1490356509html

Top

News Magazines

Sanmesh Waghmare wins Autocar Young Drivers 2016 Autocar India

For the eighth consecutive year Autocar India and Maruti joined hands to find Indiaamprsquos safest young driver This time AutocarYoung Drivers 2016 broke all previous records and received more than 57000 applications After multiple rounds of tests in 59cities 30 drivers were chosen to qualify for Indiaamprsquos safest young driver challenge and were put through one final test in Delhito see who would achieve that position and drive home a brand new Maruti Swift

The final gruelling day of tests witnessed these 30 winners going through a challenging course at the Institute of Driving and TrafficResearch in the national capital where they were tested on 20 parameters pertaining to safety vehicle control theory knowledgeand its application while driving A panel of experts reviewed their driving and safety consciousness and zeroed in on one whooutshined the rest

Sanmesh Waghmare from Navi Mumbai scored the highest In a grand event today Hormazd Sorabjee editor of Autocar IndiaMilind Soman prominent actor athlete and activist Randhir Singh Kalsi executive director Maruti Suzuki India Ltd and Dr PSPasricha retired Director General of Police Maharashtra felicitated Waghmare and handed him over the keys to his new MarutiSwifthttpwwwautocarindiacomauto-newssanmesh-waghmare-wins-autocar-young-drivers-2016-404519aspx

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2017 Kawasaki Z900 All you need to know Autocar India

With the launch of the brand new 2017 Kawasaki Z900 just around the corner we thought weamprsquod address some of the burningquestions bikers might have about the companyamprsquos upcoming replacement of its ever-popular middle-to-intermediate classnaked

Q Is it an all-new motorcycle

The simple answer is yes Pretty much everything has been changed to make the evolutionary leap from the Z800 to the Z900 Anditamprsquos fairly evident in the styling as well The slightly boxy and angular nature of the Z800amprsquos design has given way tomore organic curves Itamprsquos still unmistakably a amplsquoZamprsquo and its overall silhouette has been pretty much carried overfrom its predecessor but think of it as going from a robot-dinosaur to a proper T-Rex Apart from the more fluid lines you now see acloser resemblance to other modern Kawasaki motorcycles especially the supercharged monster that is the H2 thanks to itsmirror-like grey-black panels and bright green frame

Speaking about the frame this is all-new as well Kawasaki dropped the older cast-alloy backbone chassis from the Z800 in favourof a tubular steel trellis unit With five rigid mounts to the motor it makes the engine a stressed member of the overall chassis nowSuspension on the other hand hasnamprsquot seen a massive revision over the outgoing model It retains the beefy 41mmupside-down forks at the front with stepless adjustability for rebound damping as well as spring preload (no compression dampingadjustment however) The back still has the familiar horizontally mounted linked monoshock and suspension travel at both ends isidenticalWhile most mechanicals have either improved or stayed the same the same cannot be said about the brakes The dual-petal rotorsat the front seem to have reduced in size from 310mm to 300mm but retain the opposed four-piston calipers How much of adifference the smaller rotors make in braking performance needs to be evaluated once we get the bike for a proper test Butthankfully just like the Z800 the Z900 will offer ABS as standard

Q What about the motor

The 806cc inline-4 motor from the Z800 is one of the best in this mid-to-intermediate naked class and the fact that Kawasaki wentout of their way to improve that for the Z900 is really saying something The Z900amprsquos motor is actually based on that from themeaner wilder Z1000 but gets a smaller bore which brings the overall capacity of the four-cylinder mill to 948cc It now offers a12hp increase in output taking peak power up to a meaty 125hp Peak torque has also seen a 17Nm increase with a maximumfigure of 100Nm coming in at 7700rpm The goal of this new motor was to offer enhanced top-end performance withoutcompromising on low- to mid-range ridability and to achieve this the Z900 sports larger 36mm throttle bodies No fancyride-by-wire throttle though Kawasaki has stuck to a simple formula that works by continuing to use cable-operated throttle valves

The gearbox is still a six-speed unit though ratios have been revised to better gel with the new motor But the biggest improvementhere is the inclusion of a slipper clutch that should eliminate rear wheel hop while downshifting hard and also make for a lighterclutch lever action in general

Q Does it fix the weight issue of its predecessor

While the Z800 was praised for its versatility and performance the biggest complaint that people had with it was its portly 231kgkerb weight Kawasaki has sought to remedy this on the Z900 and the new frame itself is said to save some 135kg Throw in theuse of some lightweight alloys for the wheels swingarm as well as the crankshaft and engine balancer and youamprsquore looking ata new kerb weight of 211kg Not featherweight by any means but a full 20kg lighter than the outgoing bike The lighter weightshould mean a much nimbler handling package and it finally weighs less than its larger sibling the Z1000 While it still might nothave the same crazy power-to-weight ratio of the larger Z it now feels like a worthy competitor to modern middle-to-intermediateclass nakeds such as the Yamaha MT-09

Q Will it cost more than the Z800

With a price tag of Rs 75 lakh (ex-showroom Delhi) the Z800 provided tremendous value-for-money and was lapped up by bikerslooking for a fairly powerful and fun-to-ride inline-4 engined motorcycle under Rs 10 lakh (on-road) Now internationally the Z900commands a nominal premium over its predecessor and we expect that price difference to translate to anywhere between Rs 10 to15 lakh when the bike lands in India So expect the Z900 to be priced between Rs 85 to 90 lakh (ex-showroom)

Q Should you upgrade to a Z900 if you already own a Z800

The Z900 does offer a host of improvements over the Z800 and promises to be much more fun to ride as well The changes that thenew bike offers means that someone looking for inline-4 thrills at a comparatively affordable price should seriously consider gettingthe Z900 And to get a clearer idea of just how well the Z900 performs you should check out our soon-to-arrive review

However if you already own a Z800 you can rest assured that youamprsquove already got a motorcycle offering one of the bestperformance-to-price ratios in the Indian market So unless you just want add another competent amplsquoZamprsquo to your garagewithout shelling out too much cash maybe the logical upgrade would be the Z1000httpwwwautocarindiacomauto-news2017-kawasaki-z900-all-you-need-to-know-404515aspx0

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Lexus LX450d to be priced at Rs 23 crore Autocar India

Toyotas luxury brand Lexus has officially launched in India From the three models Lexus has launched it has revealed prices ofonly the ES 300h hybrid sedan and the RX 450h hybrid SUV ampndash the latter in two variants ampndash but is yet to disclose pricesof its range-topping LX 450d

As per our sources the diesel range topper from the luxury brand is set to be priced at a substantial Rs 23 crore (ex-showroomMumbai) A petrol LX 570 is expected to join the line-up as well with prices likely to be at a premium A key difference between thetwo will be the seating arrangements The diesel is a five-seater while the petrol will get a seven-seat layout with a third row ofseats

Based on the same underpinnings as the legendary Toyota Land Cruiser the Lexus LX 450d comes with the same 45-litretwin-turbo V8 diesel engine as found in the India-spec Land Cruiser LC200 good for 269hp and a massive 650Nm of torque

With the price tag of Rs 23 crore the Lexus will come at a significant premium to the LC200 which at Rs 134 crore (ex-showroomMumbai) is almost a crore less in comparison Though for the price the LX will offer the Land Cruiseramprsquos terrain conqueringability but with a more luxurious and better-equipped interior

The prices for the rest of Lexusamprsquo India line-up are as follows (ex-showroom Delhi)Lexus ES 300h ampndash Rs 5527 lakhLexus RX 450h Luxury ampndash Rs 107 croreLexus RX 450h F-Sport ampndash Rs 110 crorehttpwwwautocarindiacomauto-newsscoop-lexus-lx450d-to-be-priced-at-rs-23-crore-404510aspx

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2017 Nissan Terrano launch on March 27 Autocar India

Nissan has announced that it will be launching the updated Terrano in India on March 27 As per the invite Nissan claims that the2017 Terrano will be amplsquosmarteramprsquo and amplsquobolderamprsquo hinting that the SUV could get styling updates along withmore tech

While the model teased in the invite looked very similar to the current Terrano the facelifted car is expected to get over 20 majorand minor changes inside and out As per sources the major updates to the SUV are likely to be within the cabin with changes tothe exterior expected to be down to minor styling tweaks new wing mirrors with integrated side indicators and a new exterior paintshade

As per dealers the 2017 Terrano is set to get a new touchscreen infotainment system with navigation a revised multifunctionsteering and cruise control The interior colour scheme is also expected to be changed

Additionally safety equipment such as dual front airbags and ABS are expected to be made standard across the range

Under the hood the Terrano facelift is expected to remain the same with the current crop of 16-litre petrol and 15-litre dieselengines ampndash the latter in two power outputs ampndash set to carry forward unchanged The petrol motor and the lower 85hpdiesel engines will be paired to a five-speed manual gearbox as standard with the more powerful 110hp diesel being offered witheither a six-speed manual or AMT gearbox

The updated Terrano will rival the likes of the popular Hyundai Creta and its sister model the Renault Duster which received afacelift last yearhttpwwwautocarindiacomauto-news2017-nissan-terrano-launch-on-march-27-404514aspx

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Demand for Maruti Vitara Brezza remains strong Autocar India

Maruti launched the Vitara Brezza its first compact SUV on March 8 last year following an Auto Expo 2016 reveal Since then theBrezza has taken the segment ampndash which was once the domain of the Ford EcoSport ampndash by storm

In the period from March 2016 to January 2017 the Vitara Brezza has gone home to 94100 owners averaging sales of 8554 unitsa month Maruti sold 10046 Brezzas in February 2017 which means overall sales crossed the landmark one lakh units in less thana year It even managed to outsell the very popular Creta

The Brezza is available in six variants and currently has a waiting period of five months Higher trims have even longer waitingperiods at some dealerships The Brezza ticks all the right boxes and at a starting price of Rs 726 lakh offers good value Thetop-spec Brezza ZDi Plus variant costs Rs 970 lakh and comes with a decent feature list

This compact SUV is powered by the tried-and-tested 13-litre diesel engine There is no automatic gearbox or a petrol engine onoffer though a petrol version is quite likely to be launched soon

The Brezza undercuts the Ford EcoSport which received a mild update recently in terms of pricing (the Ford is priced between Rs

776 lakh and Rs 1019 lakh for the diesel variants) Other rivals to the Brezza include the Mahindra TUV300 and the NuvoSporthttpwwwautocarindiacomauto-newsdemand-for-maruti-vitara-brezza-remains-strong-404507aspx

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Great Ford Endeavour Drive experience Autocar India

Gargantuan SUVs like the Ford Endeavour are designed and intended to perform in the rough ampndash but the fact is that a handfulof owners would ever put all four wheels on the dirt let alone go crazy on a purpose-built off-road course Big brawny machines likethese are resigned to tarmac duties and make for comfortable mile-munching highway cruisers Throw in the amplsquodonamprsquotmess with meamprsquo quotient and it becomes clear that SUVs donamprsquot enjoy the popularity they do because of their off-roadingcapabilities

Nevertheless Ford India gave some owners prospective customers and the media a taste of the Endeavouramprsquos capabilities todeal with the rough stuff by letting them loose on a purpose-built off-road course on the outskirts of Bengaluru

Equipped with snow mud sand and rock modes ampndash along with hill descent control 225mm ground clearance and 18-inchwheels ampndash it was clear that the course had to be extremely hostile to scratch the surface of Endeavouramprsquos capabilitiesThe course was indeed extremely challenging and consisted of sharp descents including a 70-degree drop steep climbs deepslush and tricky switchbacks with extreme camber However given the Endeavouramprsquos breadth of capabilities a driver with littleor no experience with off-roading can deal with the challenges like an expert The car does all the work

We had the top-of-the-line 32-litre Titanium with six-speed automatic at our disposal and the humungous amount of torque ampndash470Nm between 1750rpm and 2500rpm ampndash channelled by the clever Terrain Management System meant that wedidnamprsquot have to work very hard to negotiate all the obstacles that came our way With the able guidance of the instructor sittingshotgun the Endeavour simply flattened the obstacles including a 70-degree descent ampndash the only obstacle for which theinstructors mandatorily took the wheel Towards the end of the course even shifting to four-wheel-low ratio wasnamprsquotnecessarily as you gained more confidence in the abilities of the 19-tonne behemoth

As we said earlier most owners may not even scratch the surface of the Endeavouramprsquos off-road prowess but it is definitelyreassuring to know that if one wants to go off the beaten path the big Ford has more than enough firepower to tackle the roughhttpwwwautocarindiacomauto-featuresgreat-ford-endeavour-drive-experience-404500aspx

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International News

Ford lowers profit forecast as US auto boom ebbs AFPSee this story in The Economic Times

New York US auto giant Ford said Thursday its first quarter earnings would come in well below analysts expectations as itprojected industry-wide US and Chinese car sales would decline in 2017

Ford the second-biggest US automaker after General Motors projected first quarter adjusted earnings of 30 to 35 cents per sharefalling far short of the 47 cents expected by analysts

But Ford said was standing by its full-year earnings estimate of $164 per share according to a presentation by chief financial officerBob shanks

The company expects global auto sales to grow 18 percent to 929 million in 2017

However industry-wide sales in the US are projected to decline 11 percent to 177 million vehicles after a multi-year boom despitesolid economic conditions in Fords home country

Sales in China are seen falling 10 percent to 275 million units this year due to receding tax cut benefits in 2017 and 2018 Fordsaid

Shares of Ford fell 13 percent in early trading to $1162httpautoeconomictimesindiatimescomnewsindustryford-lowers-profit-forecast-as-us-auto-boom-ebbs57808787

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Venezuela plant to begin assembly of Hyundai cars in 2018 ReutersSee this story in The Economic Times

Caracas A Venezuelan auto assembly plant MMC hopes to restart output of Hyundai Motor Co vehicles by 2018 after a five-year

halt due to a lack of dollars from the government to import parts a company executive said in an interview

Vehicle assembly has nearly ground to a halt in the crisis-stricken OPEC nation for lack of parts of assembly The socialist-runcountrys currency controls require businesses to obtain dollars through the government but low oil prices have left it withoutenough hard currency to disburse

MMC which assembles and sells Hyundai and Mitsubishi Motors Corp vehicles in Venezuela plans to sell imported autos in thecoming months as it brings the factory back online

The automotive industry is cyclical it seems like weve hit the bottom and we want to be ready for better times MMC VicePresident Jose Gomez said in an interview on Thursday

Were not going to wait for the good times to arrive to start getting ready

Venezuelas economic crisis characterized by triple-digit inflation and chronic product shortages has decimated the spendingpower of a population that for years had the means to buy new cars

Auto assembly in 2016 sank to a historic low of 2849 cars nearly 75 percent less than the year before according to Venezuelasautomotive industry group

Assembly plants have also struggled with labor disputes which have forced a number of plants to halt operations over the last sixmonths

Hyundais director for Central and South America Chenny Park said the company was hoping to become a favorite in theVenezuelan market

We are beginning a new era for the Hyundai brand in Venezuela said Park via an interpreter

Seoul-based Hyundai is Koreas largest automaker and the fifth-largest world widehttpautoeconomictimesindiatimescomnewsindustryvenezuela-plant-to-begin-assembly-of-hyundai-cars-in-201857817479Venezuela plant to begin assembly of Hyundai cars in 2018Daily News amp Analysishttpwwwdnaindiacommoneyreport-venezuela-plant-to-begin-assembly-of-hyundai-cars-in-2018-2367077

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Volkswagen came with a bang for its first euro unsecured bond since emissions scandal ReutersSee this story in The Economic Times

London Volkswagen left nothing to chance for its first euro unsecured bond since the emissions cheating scandal with the issuerprinting a blockbuster trade that silenced any concern around its access to the capital markets

Attractive pricing eased the comeback trail as order books fattened out to almost 24bn The demand gave Volkswagen the comfortto print a 8bn trade the biggest corporate bond of 2017 and double the 4bn-plus benchmark it initially announced

The stakes were high for the four tranche issue a market reopening trade for the German automaker which had effectively beenlocked out of the senior unsecured market since the emissions scandal broke in September 2015

The automaker was one of Europes most frequent corporate bond issuers until it admitted it had cheated in US diesel emissionstests sending its share price crashing and its credit spreads wider

It gives a sign that people are ready to invest in the name despite all the headlines which is a good signal for the company andensures that it can come to the market again said Christian Hantel senior portfolio manager at Vontobel Asset Management

Hefty interest came despite indications in an investor call that the emissions debacle is set to rumble on

We are not completely done with the diesel issue said Joerg Boche Volkswagens head of treasury

We are still in flux and investors should be prepared for further information to be released in the coming weeks months

The automaker went out with a four-tranche deal each for a minimum 1bn size all offering a new issue premium of around25bp-30bp at the start

The outcome was outstanding said a banker away The can of worms has opened - theyll soon be back as the biggest Europeanissuer in the capital markets

Leads then tightened pricing by 15bp across the four tranches

They left some basis points on the table and it was a good opportunity to get into Volkswagen via the primary said Hantel Thatmakes it a bit more cost efficient due to saving on the bidoffer spread and it still makes sense even after some tightening in thepricinghttpautoeconomictimesindiatimescomnewsauto-financevolkswagen-came-with-a-bang-for-its-first-euro-unsecured-bond-since-emissions-scandal57815746

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EIB asks French diesel inquiry to probe Renaults use of loans ReutersSee this story in The Economic Times

Paris The European Investment Bank has asked French investigators to find out whether 800 million euros ($863 million) ofEU-backed loans to Renault could have been used to develop test-cheating diesel engines according to documents seen byReuters

The European Union lending arm wrote to judges leading a fraud investigation into preliminary findings that Renault diesel engines -like Volkswagens - had been configured to manipulate nitrogen oxide (NOx) emissions tests

Renault which has consistently denied breaking any laws or emissions rules had no immediate comment on Friday The Parisprosecutors office did not respond to requests for comment

Since 2009 the European Investment Bank (EIB) has granted more than 8 billion euros in preferential loans to back development ofvehicles with lower carbon dioxide (CO2) emissions by carmakers including Volkswagen exposed in 2015 for using softwaredefeat devices to dupe US regulatory tests

Technologies funded by the EIB have included diesel engines because they emit less CO2 than gasoline equivalents Morerecently however diesels have been shown to produce many times the legal limit of toxic NOx in real driving

The EIB has granted Renault several loans to finance projects including research and development to reduce vehicle CO2emissions (amounting to more than 800 million euros) the banks chief fraud investigator told the French judges

The Jan 30 letter also proposes a follow-up meeting in order to establish whether our financing is implicated in your investigationsand to offer you all possible assistance

It adds The EIB enforces a zero-tolerance policy towards fraud and corruption and strives to ensure that no illegal activity tarnishesits business

A spokeswoman for the Luxembourg-based bank declined to comment on the contact with French prosecutors Two 400million-euro loans granted to Renault in 2009 and 2013 have since been reimbursed she said and a third outstanding 180million-euro facility did not cover any diesel developmenthttpautoeconomictimesindiatimescomnewsindustryeib-asks-french-diesel-inquiry-to-probe-renaults-use-of-loans57815647

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March US auto sales seen up nearly 19 JD Power and LMC Reuters Nick CareySee this story in The Economic Times

Detroit US auto sales in March will increase almost 19 percent from a year earlier even as consumer discounts continue toremain at record levels industry consultants JD Power and LMC Automotive said on Friday

March US new vehicle sales will be about 162 million units up about 19 percent from 159 million units a year earlier theconsultancies said

The forecast was based on the first 16 selling days of the month

The seasonally adjusted annualized rate for the month will be 173 million vehicles up from 168 million a year earlier

Retail sales to consumers which do not include multiple fleet sales to rental agencies businesses and government were set toincrease 1 percent in March

Highlighting policy uncertainty over whether Republican US President Donald Trump will press ahead with plans for a bordertax on imported vehicles LMC and JD Power said they were maintaining their 2017 sales forecast of 176 million vehicles anincrease of 02 percent from 2016

US sales of new cars and trucks hit a record high of 1755 million units in 2016

But as the market has begun to saturate automakers have been hiking incentives to entice consumers to buy

The consultancies said industry incentive spending was $3768 per new vehicle sold the highest ever for the month of March Theprevious record for the month was set in 2009 during the height of the Great Recession

In a statement Deirdre Borrego senior vice president of automotive data and analytics at JD Power said the competitiveness ofthe industry continues to be evident in ever-rising incentive levels

Incentives as a percentage of a manufacturers suggested retail price were at 104 percent in March exceeding 10 percent for thefirst time in the month since 2009 JD Power and LMC Automotive saidhttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmarch-u-s-auto-sales-seen-up-nearly-1-9-jd-power-and-lmc57814177

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BMW China ventures vehicle sales to rise 20 in 2017 ReutersSee this story in The Economic Times

Hong Kong Sales for German automaker BMWs China venture are expected to rise at least 20 percent year-on-year in 2017 thepremium automakers local joint venture partner said on Friday

The full-year estimate is based on a 44 percent year-on-year rise in the first two months of 2017 Chairman Wu Xiaoan of BrillianceChina Automotive Holdings BMWs 50-50 joint venture partner told reporters in Hong Kong

Global automakers must form local JVs in order to manufacture cars in China

In 2017 premium vehicle sales are predicted to outperform Chinas overall auto market which is expected to slow as a tax cut onsmall-engined cars is rolled back and the economy continues to slow

Chinas auto market the worlds largest is entering a tiny growth era Brilliance Chief Executive Qi Yumin said at the briefing Heestimated the overall market would grow more than 5 percent

BMW whose China sales grew 113 percent last year is the countrys second-largest premium brand after Volkswagens Audi andis racing to stay ahead of third-place Daimlers Mercedes-Benz which recorded 266 percent growth in 2016 China sales thanks toa fresher model lineuphttpautoeconomictimesindiatimescomnewsindustrybmw-china-ventures-vehicle-sales-to-rise-20-in-201757812695

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Nissan declines talks with union after Mississippi rally APSee this story in The Economic Times

JACKSON Nissan Motor has declined to talk to union supporters about conditions at its Mississippi assembly plant after a March 4pro-union rally headlined by US Senator Bernie Sanders

A March 14 letter from Nissan executive Scott Becker to the United Auto Workers union declines to address demands presentedafter a March 4 pro-union rally

Among other things the union had demanded that Nissan discuss a neutrality agreement with the UAW covering an employee voteon union representation Becker described claims that Nissan is improperly intimidating pro-union workers as categorically false

It would be inappropriate to have discussions with your union regarding employees at Nissans manufacturing plant in CantonMississippi without your union first having obtained the support of a majority of employees at that plant Becker wrote in a letter toUAW President Dennis Williams The union provided a copy of the letter to The Associated Press

Its the latest rebuff by Nissan in the UAWs years-long campaign to organize workers at the 6400-employee complex Nissansmanagement opposes unionization in Canton although Becker wrote that Nissan fully respects the rights of employees to unionizeor not to unionize as they choose

The UAW has long struggled to unionize foreign-owned auto plants across the South It has lost two votes at Nissans plant inSmyrna Tennessee and no vote has ever been held in Canton In Mississippi the UAW has tried to build support for unionizationby linking it to civil rights for African Americans It has also tried to pressure the Japanese automaker through the Frenchgovernments ownership stake in Nissans business partner the Renault Group

Sanders a Vermont independent as well as NAACP President Cornell William Brooks spoke at the rally Brooks told the AP in aphone interview that hes disappointed that Nissan responded only to the UAW and not to other speakers

If its good enough for the company to create products around the world with unions at their side why is this not the case forMississippi and why cant we talk about it Brooks said noting Nissans only non-unionized plants are in Mississippi andTennessee Its perplexing as a matter of logic and its insulting as a matter of respect

The Rev Isiac Jackson who chairs the Mississippi Alliance for Fairness at Nissan said hes willing to abide by a votes outcome aslong as it happens on more favorable terms

Let them vote a union in or vote a union out and the union moves on and I shut up Jackson said

But many Nissan employees say they dont want a union and the company says its the UAW thats unfairly pressuring thecompany

Nissan respects and values the Canton workforce and our history reflects that we recognize the employees rights to decide forthemselves whether or not to have third-party representation spokeswoman Parul Bajaj saidhttpautoeconomictimesindiatimescomnewsindustrynissan-declines-talks-with-union-after-mississippi-rally57808835

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Spanish car parts maker Gestamp sets price range in 35 bn euro IPO ReutersSee this story in The Economic Times

Madrid Spanish car parts maker Gestamp will price its IPO at 56 to 67 euros per share it said on Thursday valuing the companyat around 35 billion euros ($38 billion) in one of Europes biggest stock market listings so far this year

Gestamp which makes car doors pedal systems and other components in factories from Russia to Mexico said in a prospectus tothe market regulator that it aimed to list on the Spanish stock exchange on April 7

It will be Spains third initial public offering announced this year as European companies take advantage of buoyant stock marketsCash-in-transit security firm Prosegur Cash listed on Friday and home builder Neinor is due to list on Wednesday

Gestamp owned by the Riberas family said it aimed to distribute a dividend worth around 30 percent of net income every yearstarting with a payout linked to 2017 next year

Gestamp reported core earnings of 841 million euros in 2016 a 106 percent increase on the previous year The family will retaincontrol of the company following the operation owning over 50 percent of shares and voting rights

The family will raise gross proceeds of around 11 billion euros if the over-allotment option is exercised the prospectus said Thedeal will improve transparency and broaden the shareholder base the company said The funds raised will not be re-invested inGestamp

Book building will start on March 23 and end on April 5

JP Morgan Morgan Stanley and UBS are the joint global coordinators and joint bookrunners on the deal Santander DeutscheSociete Generale are also bookrunners The financial advisor is Lazardhttpautoeconomictimesindiatimescomnewsauto-componentsspanish-car-parts-maker-gestamp-sets-price-range-in-3-5-bn-euro-ipo57812998

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Behind every Skoda car design lies Czech crystal glass art form The Economic Times

Mlada Boleslav One of the sources for inspiration for Skoda designers to design the automakers vehicles is Czech crystal glassart Karl Neuhold Head of Exterior Design at Skoda said in a press statement ampldquoWithin just a few years Skodaamprsquos newdesign language has already yielded a number of sensational design studies which point towards the future of our brand Ourobjectives are clearly defined and we are now ready to present the next stepamprdquo

The company said Czech crystal glass art yields an expressive emotionally charged design which harmoniously combinesaesthetics and functionality It combines classic manufacturing processes with modern aesthetics

Crystalline structures can be seen in headlights tail lights and other features Their crystalline three-dimensional design gives thema high-quality character defined by modern technology and particular finesse

With this awareness of tradition and heritage Skoda has developed a design language that distinguishes the brand and has alreadybeen applied to numerous concept studies

Charting its progress from the Skoda Vision D design study in 2011 through to the Skoda Vision C (2014) and Skoda Vision S(2016) concepts reveals a continuous development that is also reflected in the appearance of the brandamprsquos most recentmodels and which will also decisively shape design at Skoda in futurehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsbehind-every-skoda-car-design-lies-czech-crystal-glass-art-form57807168

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Germany increases electric car charging points 27 percent in 2016 ReutersSee this story in The Economic Times

Frankfurt The number of electric car charging points for public use in Germany rose by 27 percent last year including hundredsmore fast-charging units amid efforts to boost the technology across Europe

Germany now has 7407 charging points electricity industry group BDEW said on Friday Of those added last year 292 units werefast charging (direct current) points that can reload an electric car in minutes instead of hours

With public and government support growing for electric car technologies utilities such as Innogy and EON are building upcharging networks to tap into the market

BDEWs managing director Stefan Kapferer said government funding was still important to make it viable to operate charging points

given the low numbers of electric cars

The number of electric cars in Germany rose 29 percent to 77153 in 2016 up from just 4000 in 2011 BDEW said

Kapferer also said the technology needed to be developed further citing inductive charging as one way that could help to gain newcustomers

The long time it takes to charge batteries is one of the main disadvantages of electric cars compared to conventional cars withgasoline tanks that can be filled up in seconds

BMW Volkswagen Ford and Daimler plan to build about 400 next-generation charging stations in Europe that can reload anelectric car in minutes instead of hours as they look to stoke demand and gain market share from Tesla

The BDEW statistics showed that North Rhine-Westphalia leads in the number of charging points followed by Baden-Wuerttembergand Bavaria

Austria this week also said suppliers would join up their charging stations across the country making it easier for drivers to chargeup as part of the countrys efforts to promote the vehicles to reduce CO2 emissionshttpautoeconomictimesindiatimescomnewsindustrygermany-increases-electric-car-charging-points-27-percent-in-201657812935

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Donald Trumps auto review may only slow march to better fuel efficiency ReutersSee this story in The Economic Times

Detroit When US President Donald Trump announced a review last week of tough Obama-era vehicle emissions and fuel-efficiencystandards he proclaimed that the assault on the American auto industry is over

But rules set by the Environmental Protection Agency may take a backseat to consumers demanding vehicles that guzzle less gasand automakers having to meet tougher standards if they want to export cars overseas according to auto industry analysts

In the end US carmakers may just gain a few more years to meet the more stringent targets that former President Barack Obamasadministration negotiated with the companies in 2012 analysts said

If Europe and China continue to toughen their emissions standards the US might become an outlier American Axle PresidentMike Simonte told Reuters on Thursday

Trumps move was widely seen leading to a rollback or loosening of more stringent targets which would slash vehicle exhaustemissions while effectively doubling average fuel economy to 545 miles per gallon by 2025

Automakers have argued the rules for 2022-2025 are too expensive and could cost American jobs so the Trump administrationsreview was seen as a win for them

On a conference call Thursday with investors Bob Shanks Ford Motor Cos chief financial officer said We are not seeking arollback in any way We just want to have a conversation around the levels we want to achieve

Despite what the EPA may want California and nine other states in the Zero Emission Vehicle program - eight in the northeast plusOregon - are expected to move ahead on Friday with the previously established targets

Those states account for nearly 30 percent of US auto sales

The potential divide with the rest of the country could create a two-tiered environment with two sets of regulations said MarkWakefield managing director of AlixPartners automotive practice This could drive costs higher if automakers have to build twoversions of the same vehicle to meet the two different standards

The Alliance of Automobile Manufacturers a trade group that sued to overturn the Obama-era rules on behalf of several bigautomakers wrote the White House on Thursday urging talks to begin quickly with California to ensure that national standardsremain in place

Automakers seek certainty predictability and rationality - over time - from the regulatory process the groups CEO Mitch Bainwolwrote EPA A DISTANT THIRD

Kristin Dziczek director of the Center for Automotive Researchs labor and industry group said US automakers could find it hard toexport cars to markets such as China and Europe with tougher regulatory regimes if the US targets were rescinded

I dont think were going to see a rollback she said At most I think we may see a slowing of the timetable for implementing thetougher standards

AlixPartners Wakefield said if China the worlds largest market continues pushing electric vehicles while America backpedals itcould lead to some movement of investment from the US to China especially as the latter market continues to grow

General Motors Co and Fiat Chrysler Automobiles NV referred Reuters to public comments made by the industrys lobbying groupthe Alliance of Automobile Manufacturers

EPA Administrator Scott Pruitt a climate change skeptic said the Obama administration estimated it would cost $200 billion over 13years to comply with stricter standards which he believes will lead to higher prices for consumers and jobs leaving the country

Morgan Stanley analyst Adam Jonas said the auto industry expected to miss the 2022-2025 targets regardless of who occupied theWhite House but he believes the EPAs recent move may carry relatively little weight

Of all the things that are likely to drive fuel economy I would rank the EPA a distant third on the list behind consumer preferencesand the direction of technology he said

United Auto Workers union President Dennis Williams said while around 60 percent of US auto sales are currently trucks and SUVsconsumers value fuel-economy improvements for those vehicles

The automakers shouldnt make the mistake of sliding backward Williams said Were here to protect our (union) members butwe understand that in doing so we also have to look at the futurehttpautoeconomictimesindiatimescomnewspolicydonald-trumps-auto-review-may-only-slow-march-to-better-fuel-efficiency57811440

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Thailand approves 4 investment applications worth over $465 bn for electric cars ReutersSee this story in The Economic Times

Bangkok Thailand approved four investment applications worth more than 161 billion baht ($465 billion) and a promotion schemefor electric cars the state investment agency said on Friday

Of the pledges Thailands Gulf Group will invest in two electricity generating projects worth a combined 118 billion baht the Boardof Investment (BOI) said in a statement

In addition two units of PTT Pcl Thailands largest energy firm will invest a combined 435 billion baht in gas transportationsystems it said

The agency also approved tax incentives to promote production of three types of electric cars in Thailand Hirunya Suchinai thehead of BOI told a new conference

Applications for production of hybrid electric vehicles and plug-in hybrid electric vehicles must be made this year and those forbattery electric vehicles by 2018 she said

The scheme aimed at attracting demand for environmentally friendly vehicles will be submitted for cabinet approval next TuesdayIndustry Minister Uttama Savanayana said

Thailand is a regional manufacturing hub and export base for the worlds top carmakers The auto industry accounts for about 10percent of the countrys gross domestic producthttpautoeconomictimesindiatimescomnewsindustrythailand-approves-4-investment-applications-worth-over-4-65-bn-for-electric-cars57811000

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Economy

Rupee snaps 2-day fall up 11 paise at 6541 against dollar PTISee this story in The Economic Times

Mumbai Staging a smart rebound after two straight sessions of decline the rupee gained 11 paise today to end at 6541 againstthe American currency on fresh bouts of dollar selling by exporters and banks

Strong foreign fund inflows and a firming trend in local equities largely backed up the momentum

Unwinding of dollar short positions by speculative traders ahead of the much awaited healthcare bill by US President Donald Trumpfurther supported the home currency a forex trader said

Domestic equities gained further charged by frantic buying in key banking stocks after Finance Minister Arun Jaitley promised asolution to tackle non-performing assets (NPAs) within the next few days

Foreign portfolio investors (FPIs) bought shares worth a net Rs 109444 crore yesterday as per stock exchanges data

The home currency resumed higher at 6548 as compared to Thursdays closing value of 6552 at the Interbank Foreign Exchange(Forex) market on renewed dollar selling

It maintained a steady uptrend throughout the day and touched an intra-day high of 6538 in late afternoon deals before ending at6541 showing a smart gain of 11 paise or 017 per cent

The Indian unit had depreciated by 22 paise in the last two days

The RBI meanwhile fixed the reference rate for the dollar at 654581 and for the euro at 704656

On the global front the US dollar roared higher in Asian trade gaining ground from a two-month low against all of its G-10counterparts ahead of healthcare vote amid hardening Fed policy bets

The Euro also got a boost in London trading following surprisingly strong Eurozone PMI readings which showed business activity inthe region at a six-year high

The US dollar index which measures the greenbacks strength against a trade-weighted basket of six major currencies traded littlechanged at 9955

In cross-currency trade the rupee also bounced back against the British pound and finished higher at 8168 from 8190 per poundand recouped against the Japanese Yen to end 5890 per 100 yens compared with 5901 yesterday

However the local unit ended steady against the euro at 7066

In the forward market premium for dollar displayed a lacklustre trend in the absence of necessary buying support

The benchmark six-month premium for August softened to 134-136 paise from 135-137 paise while the far-forward February 2018contract ended virtually steady at 284-286 paise

On the global commodity front crude maintained its small gains holding above a four-month low amid growing concerns thatOPECs pledge to reduce global inventories was encouraging the US to boost production

Brent crude the global oil benchmark rose to USD 5094 a barrel on Londons ICE Futures exchangehttpeconomictimesindiatimescommarketsforexrupee-snaps-2-day-fall-up-11-paise-at-65-41-against-dollararticleshow57814354cms

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Sensex ends 89 pts higher Nifty tops 9100 ICICI Bank surges 3 Swati VermaThe Economic Times

Domestic equity indices closed in the green for the second session in a row on Friday with banking stocks leading the gain

The Nifty PSU Bank index rose over 3 per cent after Finance Minister Arun Jaitley promised a solution to the growing NPA problemwithin next few days He said a resolution is being worked out and RBI will put enough pressure on the borrowers to settle dues

Sentiments were also boosted by YES Banks QIP issue launched last evening as the private bank managed to garner more than$22 billion from institutional investors across the globe

The bank had launched the issue at a floor price of Rs 149895 for the offer a 114 discount to the Thursday closing price of thestock at Rs 1516

On Friday the SampP BSE Sensex ended 89 points higher at 29421 against the previous close of 29332 The 30-share index whichopened at 29350 hit an intraday high and low of 29539 and 29350 respectively with ICICI Bank ITC and State Bank of Indiacontributing most to the rise in the index

On similar lines the broader Nifty50 index of the National Stock Exchange closed 21 points higher at 9108

Nifty closed flat in a volatile session tracking mixed cues The move in Nifty was in line our view and we expect this to continue onMonday as well said Jayant Manglik President Retail Distribution Religare Securities

Now the challenging part is to manage stock specific positions in such volatile scenario We suggest limiting leveraged positionsand keep them hedged until Nifty resumes its uptrend Manglik added

In the sectoral landscape banking stocks gained the most pushing SampP BSE Bankex 292 points higher at 24061 thanks to rise inthe shares of ICICI Bank SBI and Kotak Mahindra Bank

On the contrary IT stocks bled the most and emerged as the worst performers with blue chips Infosys TCS and Tech Mahindrabeing the major contributors

Global Stocks

Elsewhere in Asia Japans Nikkei ended up 09 per cent at 1926253 shrugging off early weakness and moving decisively awayfrom the previous sessions 15-month lows as the yen took a breather from its recent strength

China stocks also closed higher as strong gains in the infrastructure sector offset concerns over tightening liquidity in the countrysbanking system increased regulation and fresh curbs on property investment

The bluechip CSI300 index rose 08 percent to 348960 points while the Shanghai Composite Index added 06 percent to326945

European markets wobbled in early morning trade on Friday At the time of writing of this report Britains FTSE100 was trading 018per cent lower at 732714 while Germanys DAX was trading at 1201940 down 017 per cent Frances CAC40 was also in the redwith headline index trading 049 per cent lower at 500827httpeconomictimesindiatimescommarketsstocksnewssensex-ends-89-pts-higher-nifty-tops-9100-icici-bank-surges-3articleshow57811147cms

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Forex reserves up $267 bn to $36678 bn PTISee this story in The Hindu Business Line

Mumbai Indiaamprsquos foreign exchange reserves surged by whopping $2671 billion to $366781 billion for the week ended March2017 on account of increase in foreign currency assets the Reserve Bank said today

In the previous week the reserves had risen by $986 million to $364109 billion

Foreign currency assets (FCAs) a major component of the overall reserves rose by $2645 billion to $343101 billion in thereporting week the RBI said

Expressed in US dollar terms FCAs include the effects of appreciationdepreciation of nonampmdashUS currencies such as theeuro pound and the yen held in the reserves

Gold reserves remained unchanged at $19914 billion

The special drawing rights with the International Monetary Fund was up by $10 million to $1444 billion Indiaamprsquos reserveposition with the Fund too increased by $159 million to $2320 billion RBI saidhttpwwwthehindubusinesslinecomeconomyforex-reserves-up-267-bn-to-36678-bnarticle9600591ece

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Closing

Last Financial Closing

Sensex 2942140 (+8924)NSE 910800 (+2170)US$ spot Rs6542US$ Y1113300US$ 6 months RsYen Rs59Euro spot Rs7065

Gold (10gm) Rs2874500Silver (1kg) Rs4153000

Crude Oil (WTI) Crude Oil (Brent) $5002

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 20925 Asahi Ind 1 21190Amara Raja B 1 87595Ashok Leyland 1 8735Bajaj Auto 10 284300Bharat Forge 2 101520Denso 1 Eicher Motor 10 2436595Escorts 10 52790Exide Ind 1 21565Force Motors 10 460705Gabriel India 1 12405Hero Motocor 2 337525Hind Motors 5 940

Hi-Tech Gear 10 21815Jay Bh Maruti 5 42095

Jamna Auto 5 21275JK Tyres amp Inds 10 1349Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39155Kirloskar Br 2 25010LML Ltd 10 1285LampT 2 155120Lumax Ind 10 136150Lumax Tech 10 46850MampM 5 127580Maruti Suzuki 5 600465Motherson SS 1 36580Minda Inds 2 43220MRF 10 5930880Omax Auto 10 7655Rico Auto 1 5670Sona Koyo St 1 8165

SRF 10 159115Tata Motors 2 47040 TVS Motors 1 42710

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 5825Hindalco 1 19490Hind Zinc 2 32325JSW Ispat S 10 Jind Steel 1 11975JSW Steel 1 18680Jindal Saw 2 8155National Aluminium 5 7490SAIL 10 6250Tata Steel 10 49320Visa Steel 10 2100

Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 22990Binani Industries 10 7230Birla Corp 10 69370India Cement 10 15800Prism Cement 10 9875JK Cement 10 88860Shree Cement 10 1631075

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NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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DirectorSapna KulshresthaMobile 9810975257

Production-in-ChargeS K MandalPhone 011-22626650

Editing-in-ChargeGulab Singh YadavMobile 9999132357

Marketing-in-ChargeRashmi ThakurMobile 9958949710

Accounts-in-ChargeVimal ParasharMobile 9910631712

PLEASE NOTE

NURC Industry Updates contain editedtruncated text of Industry-specific news as it appears in various select dailies and websites These are NOT full stories unless otherwisespecifically mentioned The stories contained herein are informational only and no representation is made or warranty given as to their content reliability truthfulness orusefulness User assumes all risk of use It be clearly understood that NURC updates do not claim to and neither mean to replace the Print or the Internet editions of variousnewspapers whose articles are featured therein For the best and complete news reading NURC urges its readers to read the full text of the stories from the Newspaperswhose credits are given after the headline and visit the related website whose URL is given below the text matter of each news item

NURC News Update - AUTOMOBILES

News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd

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