indian auto industry update · eicher trucks and buses launches new bs-iv pro 5000 truck series...
TRANSCRIPT
Indian Auto Industry Update
26 April 2017
IndustryUnder GST Italy eyeing greater participation in sectors like auto in India
Interviews amp FeaturesCars SUVs MUVs
Limited edition Volkswagen Polo GT Sport introduced in India
Maruti Suzuki Dzire goes solo on Balenos platform
New 2017 Maruti Suzuki Dzire booking opens at Rs 5000
Marutis new Dzire will roll out on 16 May What to expect
Marutis most expensive car S-Cross crosses its first major milestone
Carmakers use big data to drive growth
Luxury CarsA luxury matchup
Commercial VehiclesEicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series
Eicher buses fly as schools infrastructure drive demand
VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology
Construction amp Agri Machinery23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles
E-BikesComponentsAllied Industries
Watch how this anti-collision vehicle management system for Indiaamprsquos NHs works
Autolite enters e-rickshaw space to grow lithium ion battery business
Emissions EnvironmentMaking way for hydrogen-run vehicles
Finance amp InsuranceMahindra Finance Q4 net falls 37 on higher provisioning write-offs
Mahindra Finance down but not out
Oil Lubricants amp Alternative FuelsCrude oil edges up after six days of straight losses
News MagazinesNew Honda Civic Type R breaks a Nurburgring lap record
Mahindra TUV300 KUV100 sales cross 50000 units
2017 Indian Chieftain Dark Horse review test ride
International NewsGeneral Motors fires 2700 in Venezuela after plant closure
US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2
Germany against EUs plans to overhaul vehicle emissions testing scheme
Hyundai mobile app exposed cars to high-tech thieves -researchers
Continental steps up investments in electric car drives
Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars
Tesla to double its charging network in 2017
Truck maker Volvo Q1 profit beats forecast
Carlos Ghosn rules out Mitsubishis merger with Nissan
Mitsubishi Motors inaugurates new manufacturing plant in Indonesia
Waymo testing self-driving car ride service in Arizona
China targets production of 2 mn new energy vehicles by 2020
Automotive supplier breaks ground on rare new Detroit factory
French prosecutors open Peugeot diesel-cheating probe
Automakers ask California to ease rules for self-driving car tests
Ok Google tell my Mercedes to start
EconomyRupee hits 3-week high of 6420 on dollar selling
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K
ClosingLast Financial Closing
Industry
Under GST Italy eyeing greater participation in sectors like auto in India Dipanjan Roy ChaudhuryThe Economic Times (Web Edition)
New Delhi Riding on the recent efforts to bring in GST that is being viewed as a major economic reform to attract foreign capitalItaly -- Europes second biggest manufacturing hub -- is sending their biggest trade and investor delegation to India this week eyeinggreater participation in the machinery automotive ICT infrastructure and textile sectors
Led by Italys Deputy Trade Minister the delegation of 60 companies from Italy will explore business and investment opportunities inIndia according to Italys Trade Commissioner to India Francesco Pensabene
Italy is currently 13th largest investor in India with presence of 400 firms and has market share of one per cent among the foreigninvestors here Total Italian FDI between 2000-2016 is around two billion Euros
The Italian companies are interested in exactly the same sectors that has been identified by the current government as priorityareas -- smart cities clean and green tech ICT besides machinery for various industries from leather to marbles to foodprocessing informed Pensabene In 2016 Indo-Italian trade stood at 76 billion Euros
The Italian official noted that implementation of GST will lead to harmonisation of taxes and this will enhance foreign capital intoIndia including from Italy
What is interesting is the fact that this Trade mission will be followed within weeks by Joint Economic Commission in Rome wherethe Indian side will be led by the Commerce Minister Italian Ambassador to India Lorenzo Angeloni told ET
2017 will be a big year for Italian investors in India This year India is regarded as the most important destination for Italiancompanies The visit by this delegation is most timely as India has a stable growing economy stable political environment andmajor reforms like GST are underway Road shows about India in Italy are also being planned the envoy noted
The two countries want to explore future areas of cooperation in defence hydrocarbon and even real-estate Italy is among Indiastop 5 trading partners in the EU
Main items of Indian exports to Italy are ready-made garments leather iron ore motor vehicles textiles chemicals gems ampjewellery Main items of import from Italy are general and special purpose machinery machine tools metallurgical products andengineering items
Some of the major Italian companies that have invested in India are FIAT Auto Heinz Italia FIOlA Italcementi NecchiCompressori Perfetti LavazzaFata Hunter Engineering ENI SAI India Isagro (Asia) Agrochemicals Piaggio and ImpreglioSEADeutzfahr Group Finmeccanica SpA Ferrero Salini etc
Indian companies present in Italy are in sectors such as IT electronics pharmaceuticals automobile textile and engineering Theprominent Indian companies operating in Italy include Tata TCS Wipro Engineers India LampT Mahindra amp Mahindra RanbaxyRaymonds etc SBI has a representative office in Milan
Six Italian banks have representation in India Top sectors attracting FDI inflows from Italy are Automobile IndustryTransportationFood Processing Metallurgical Industry Textiles Electrical Equipment and Others
The Joint Economic Commission is an institutional mechanism chaired by the respective Commerce Ministers of both countries
Under the JEC there are Joint Working Groups in the following areas Infrastructure Tourism Railways Food ProcessingRenewable Energy Information Technology and Agriculture The 18th session of the JEC was held in New Delhi in December2009
In June 2014 Air India National Carrier of India started connecting Rome and Milan of Italy with New Delhi giving opportunity toboth tourists and business people from India and Italy to visit each other country for both tourism and business purposeshttpautoeconomictimesindiatimescomnewspolicyunder-gst-italy-eyeing-greater-participation-in-sectors-like-auto-in-india58362099
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Interviews amp Features
Cars SUVs MUVs
Limited edition Volkswagen Polo GT Sport introduced in India The Economic Times (Web Edition)
Mumbai Indian arm of the German auto maker Volkswagen India in a press release said that the company has launched a limitededition of the Polo GT - Polo GT Sport
The company claims that the Polo GT Sport is equipped with a host of exterior and interior updates and will be available across boththe variants of Polo GT at all Volkswagen dealerships in India
On the exterior the GT Sport edition hatch gets a glossy black spoiler 16amprdquo Portago alloy wheels and Glossy black roof foilInside the limited edition Polo GT sport comes fitted with leather finished seats with GT sport embossed on seat covers
Announcing the launch of Polo GT Sport Thierry Lespiaucq ampndash Managing Director Volkswagen Groups Sales India saidampldquoPolo GT has been the first choice for buyers who seek strong power delivery and class leading efficiency both perfectlycombined in a single carline The GT badge has always instilled the pride of owing the best and the Polo GT Sport edition takes it anotch higher further increasing the sport quotient of the vehicle With this offering we are providing our consumers with an option tochoose a sportier variant of the most loved hatchback the Polo GTamprdquo
The car is aimed at buyers who seek a sportier feel from their vehicle said the companys release The car is powered by the same12L TSI and 15L TDI enginethat sheds a power of 105PS and 110PS of power respectively
The Polo GT Sport limited edition will cost Rs 20000 over the ex-showroom price The company has not restricted the number ofunits but a source close to the company says that the limited edition Volkswagen Polo GT Sport will be on sale for about threemonths The company is offering the car in two color options Flash red and Candy Whitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarslimited-edition-volkswagen-polo-gt-sport-introduced-in-india58358347Volkswagen launches limited edition Polo GT Sport The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesvolkswagen-launches-limited-edition-polo-gt-sportarticle9662500eceVolkswagen launches limited edition Polo GT SportThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesvolkswagen-launches-limited-edition-polo-gt-sportarticleshow58359963cmsVolkswagen launches Polo GT Sport starting price is Rs 911 lakhBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesvolkswagen-launches-polo-gt-sport-starting-at-rs-9-11-lakh-117042500541_1html2017 Volkswagen Polo GT Sport edition launchedAutocar Indiahttpwwwautocarindiacomauto-news2017-volkswagen-polo-gt-sport-edition-launched-404778aspxVolkswagen launches Polo GT Sport priced up to Rs 921 lakhDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos250417volkswagen-launches-polo-gt-sport-priced-up-to-rs-921-lakhhtml
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Maruti Suzuki Dzire goes solo on Balenos platform Ronak ShahThe Economic Times (Web Edition)
New Delhi Maruti Suzuki Dzire is the second product from the companyamprsquos stable which is built on theamplsquoHeartectamprsquo platform after Maruti Suzuki Baleno
The platform is the fifth-generation B-platform and has helped the market leader to bring in the proper sedan proportion on thesub-4-meter sedan Currently the company has multiple platforms for its existing vehicles and it will be looking at consolidating theplatforms With the launch of new generation Maruti Suzuki Baleno and Maruti Suzuki Ignis the company launched two new fifthgeneration A and B platforms Ignis sits on the A+ platform while the Maruti Suzuki Vitara Brezza sits on a different C platform all
together
Introduction of new platforms has helped Maruti Suzuki to meet the upcoming safety regulation which comes to play from October12017 for new models Like the Baleno and Ignis the new generation Maruti Suzuki Dzire meets all the future safety norms andmeets the frontal offset side-impact and pedestrian safety norms and gets dual airbags and ABS with EBD as a standard safetyfeature claims the company
Apart from the safety aspect Maruti Suzuki also has given away the Swift name as the company believes that Dzire will now standout independently and doesnamprsquot need the Swift to support its sales
The first and second generation Swift Dzire were based on the hatch whereas the new generation Dzire is now based on the Balenoplatform Maruti Suzuki has also made changes to the overall proportion of the car to create more space and make the car lightweight
When compared to the current generation Maruti Suzuki Swift Dzire the next generation Dzire now sits 40 mm lower in height at1515 mm The wheelbase and width of the car has gone up 20 mm and 40 mm respectively The wheelbase of Dzire is now 2450mm and the width of the car is 1735 mm The increase in width has resulted in an increase in rear shoulder room by 30 mm andfront shoulder room by 20 mm claims the company Extra wheelbase has transformed to a larger boot space at 376 liters thanexisting 310 liters
The redesigned A-pillar in now curvier giving the car that sedan look that the company desired The face of the car is in line to thenew generation Maruti Suzuki Swift which India will get by end of this ongoing financial year
Maruti Suzuki also claims that the weight of the base petrol variants has gone down by 105 kgs and the base diesel variants willnow weight 85 kgs less With addition of more features on the higher variants the weight of the car will change added the companyThe use of ultra-high tensile and high tensile steel has helped the company to achieve weight reduction which will also transforminto better performance and overall fuel efficiency of the car The company will reveal the claimed mileage figures on the day of thelaunch which is scheduled on 16th May 2017 bookings of New Dzire will begin on 1st week of May 2017
Maruti Suzuki Dzire will be available is four petrol and four diesel variants with the option of Auto-gear shift (AGS) or AMT gearboxavailable on both petrol and diesel versions Maruti Suzuki has sold over 138 lakh units of Maruti Suzuki Swift Dzire since its launchin 2008 and has been the only sedan in top 5 most selling cars in the Indian car markethttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-dzire-goes-solo-on-balenos-platform58357606
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New 2017 Maruti Suzuki Dzire booking opens at Rs 5000 The Economic Times (Web Edition)
New Delhi Indias largest selling sub-4 metre sedan Maruti Suzuki Dzire which is slated for launch mid next month can be bookedwith a minimum amount of Rs 5000 at some dealerships in Delhi NCR
However the company has officially announced that the booking will start early next month as it is also looking out for onlinebooking options
As per dealership sources The new Dzire is expected to Rs 50000- Rs 70000 pricier than the outgoing model The dealership isalso offering a discount of Rs 15000 on Diesel model to clear out the inventory
2017 Maruti Suzuki Dzire has not just shed the weight by 20 Kgs but it has also let go the Swift badging Similar to new models likeCiaz and Vitara Brezza the Dzire will come in plus variants such as VDI+ ZDI+ etc Being the largest selling car in the segment thecompany is confident to further expand the market
While the design of the car has gone for an overhaul change the power unit for both petrol and diesel engine remains the same asthe old generation Moreover the company is offering Auto Gear shift (AGS) or AMT in four petrol and diesel variants The weightloss from the overall car will certainly add to the performance and mileage of the entry level sedan
Till now the company has sold over 13 lakh Dzires in both personal and commercial segmenthttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsnew-2017-maruti-suzuki-dzire-booking-opens-at-rs-500058360645
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Marutis new Dzire will roll out on 16 May What to expect PTISee this story inBusiness Standard (Web Edition)
New Delhi Car market leader Maruti Suzuki India (MSI) is seeking to revive growth in compact sedan segment in the country withthe launch of its third generation Dzire next month
The company which has till date sold 1381 lakh units of the model in India since its launch in March 2008 will roll out an all-newversion of Dzire on May 16
The sub-four metre compact sedan segment has witnessed decline in sales In 2016-17 it clocked 402608 units as against
440735 units in 2015-16 down 865 per cent
MSIs Dzire sales declined by 1467 per cent at 199878 units in financial year 2016-17 as against 234242 units in the previousyear Despite the decline the model accounted for 50 per cent of the total sales in the segment
Due to capacity constraints we had to adjust production of certain models including Dzire in order to reduce long waiting period ofmodels like Baleno and Vitara Brezza MSI Executive Director Sales and Marketing RS Kalsi told reporters here
With additional capacity of 15 lakh units available for this fiscal from Suzukis Gujarat plant he said the pressure will ease and it willbenefit models like Dzire
We have 50 per cent market share in the compact sedan segment where Dzire is present and with the launch of next generationedition we are looking to maintain the sales momentum Kalsi said
Last week rival Hyundai Motors India had also launched an upgraded version of Xcent that competes with Dzire Tata Motors hasalso introduced its Tigor
Besides these the new Dzire will also compete with Honda Amaze Ford Aspire and Volkswagen Ameo
These models are priced in the range of Rs 47 lakh to Rs 841 lakh
Inspite of the competition we have been doing the numbers (for Dzire) We are sure that with the new edition we are going tosurpass the earlier numbers and would also certainly help the market grow Kalsi said
Commenting on the upcoming model MSI Executive Director RampD C V Raman said the new Dzire has been developed on 5thgeneration Heartect platform which helps in weight reduction and improve frame rigidity
The new Dzire also meets frontal side and pedestrian safety norms that will start kicking in from October this year he added
It is the sixth model from Maruti which meets safety regulations ahead of time Raman said
The new model would be mainly produced at the companys Manesar facility
The present generation Dzire would now be sold as Dzire Tour to the fleet operators with the launch of the updated version in Mayhe added
The car would be launched with a 12 litre petrol engine and a 13 litre diesel powertrain The new vehicle would also feature AGS(auto gear shift) transmission in both petrol and diesel options
Last fiscal Dzire came third in the top ten best selling list of passenger vehicles It was the second best selling model among thepassenger vehicles in 2015-16
Last full model change of the Dzire happened in February 2012 Last year the company launched the compact sedan with autogear shift (AGS) technologyhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-new-dzire-will-roll-out-on-16-may-what-to-expect-117042400898_1html
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Marutis most expensive car S-Cross crosses its first major milestone Ajay ModiBusiness Standard (Web Edition)
New Delhi S-Cross the most expensive vehicle from Maruti Suzuki has managed to cross a milestone of 50000 units in salesLaunched in August 2015 the vehicle had seen an initial phase of weakness due to its pricing and competition fromHyundaiamprsquos Creta launched days before S-Cross
The countryamprsquos largest car maker has sold over 46000 units of S-Cross in domestic market since launch data with Siamshowed More than 4000 vehicles have been exported to different destinations The vehicle positioned as a crossover had seenchallenges post the launch
Within a couple of months of the launch in August 2015 there was a sizeable discount of up to Rs 90000 on S-Cross Marutiadmitted it went wrong on pricing of the 16 litre vehicle When the S-Cross was launched the 16-litre option was priced at Rs1199 lakh Rs 1299 lakh and Rs 1374 lakh for the base mid and top-end models In January 2016 price was corrected to Rs 994lakh Rs 1094 lakh and Rs 1169 lakh respectively S Cross now comes in the price range of Rs 807 lakh to Rs 1064 lakh for the13 litre engine and at Rs 1204 lakh for the 16 litre engine
ampldquoThe price to value equation on 16 litre was not appreciated by customers and we responded by correcting price Thecrossover is a new concept in India as it is placed between the sedan and SUV People are yet to get used to this concept of onevehicle that can be used as a SUV for weekend drives and an office vehicle for weekdays That is now evolving Our target was2500 units a month and at this number we become a market leaderamprdquo said R S Kalsi executive director (marketing amp sales)at Maruti Suzuki
With S-Cross Maruti Suzuki was attempting to break into a new segment which was also meant to be premium compared to mostof its other products Naturally the vehicle generated lot of expectations Comparisons were drawn with other large selling vehicles
from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
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Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
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Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
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Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
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Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
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Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
Tesla to double its charging network in 2017
Truck maker Volvo Q1 profit beats forecast
Carlos Ghosn rules out Mitsubishis merger with Nissan
Mitsubishi Motors inaugurates new manufacturing plant in Indonesia
Waymo testing self-driving car ride service in Arizona
China targets production of 2 mn new energy vehicles by 2020
Automotive supplier breaks ground on rare new Detroit factory
French prosecutors open Peugeot diesel-cheating probe
Automakers ask California to ease rules for self-driving car tests
Ok Google tell my Mercedes to start
EconomyRupee hits 3-week high of 6420 on dollar selling
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K
ClosingLast Financial Closing
Industry
Under GST Italy eyeing greater participation in sectors like auto in India Dipanjan Roy ChaudhuryThe Economic Times (Web Edition)
New Delhi Riding on the recent efforts to bring in GST that is being viewed as a major economic reform to attract foreign capitalItaly -- Europes second biggest manufacturing hub -- is sending their biggest trade and investor delegation to India this week eyeinggreater participation in the machinery automotive ICT infrastructure and textile sectors
Led by Italys Deputy Trade Minister the delegation of 60 companies from Italy will explore business and investment opportunities inIndia according to Italys Trade Commissioner to India Francesco Pensabene
Italy is currently 13th largest investor in India with presence of 400 firms and has market share of one per cent among the foreigninvestors here Total Italian FDI between 2000-2016 is around two billion Euros
The Italian companies are interested in exactly the same sectors that has been identified by the current government as priorityareas -- smart cities clean and green tech ICT besides machinery for various industries from leather to marbles to foodprocessing informed Pensabene In 2016 Indo-Italian trade stood at 76 billion Euros
The Italian official noted that implementation of GST will lead to harmonisation of taxes and this will enhance foreign capital intoIndia including from Italy
What is interesting is the fact that this Trade mission will be followed within weeks by Joint Economic Commission in Rome wherethe Indian side will be led by the Commerce Minister Italian Ambassador to India Lorenzo Angeloni told ET
2017 will be a big year for Italian investors in India This year India is regarded as the most important destination for Italiancompanies The visit by this delegation is most timely as India has a stable growing economy stable political environment andmajor reforms like GST are underway Road shows about India in Italy are also being planned the envoy noted
The two countries want to explore future areas of cooperation in defence hydrocarbon and even real-estate Italy is among Indiastop 5 trading partners in the EU
Main items of Indian exports to Italy are ready-made garments leather iron ore motor vehicles textiles chemicals gems ampjewellery Main items of import from Italy are general and special purpose machinery machine tools metallurgical products andengineering items
Some of the major Italian companies that have invested in India are FIAT Auto Heinz Italia FIOlA Italcementi NecchiCompressori Perfetti LavazzaFata Hunter Engineering ENI SAI India Isagro (Asia) Agrochemicals Piaggio and ImpreglioSEADeutzfahr Group Finmeccanica SpA Ferrero Salini etc
Indian companies present in Italy are in sectors such as IT electronics pharmaceuticals automobile textile and engineering Theprominent Indian companies operating in Italy include Tata TCS Wipro Engineers India LampT Mahindra amp Mahindra RanbaxyRaymonds etc SBI has a representative office in Milan
Six Italian banks have representation in India Top sectors attracting FDI inflows from Italy are Automobile IndustryTransportationFood Processing Metallurgical Industry Textiles Electrical Equipment and Others
The Joint Economic Commission is an institutional mechanism chaired by the respective Commerce Ministers of both countries
Under the JEC there are Joint Working Groups in the following areas Infrastructure Tourism Railways Food ProcessingRenewable Energy Information Technology and Agriculture The 18th session of the JEC was held in New Delhi in December2009
In June 2014 Air India National Carrier of India started connecting Rome and Milan of Italy with New Delhi giving opportunity toboth tourists and business people from India and Italy to visit each other country for both tourism and business purposeshttpautoeconomictimesindiatimescomnewspolicyunder-gst-italy-eyeing-greater-participation-in-sectors-like-auto-in-india58362099
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Interviews amp Features
Cars SUVs MUVs
Limited edition Volkswagen Polo GT Sport introduced in India The Economic Times (Web Edition)
Mumbai Indian arm of the German auto maker Volkswagen India in a press release said that the company has launched a limitededition of the Polo GT - Polo GT Sport
The company claims that the Polo GT Sport is equipped with a host of exterior and interior updates and will be available across boththe variants of Polo GT at all Volkswagen dealerships in India
On the exterior the GT Sport edition hatch gets a glossy black spoiler 16amprdquo Portago alloy wheels and Glossy black roof foilInside the limited edition Polo GT sport comes fitted with leather finished seats with GT sport embossed on seat covers
Announcing the launch of Polo GT Sport Thierry Lespiaucq ampndash Managing Director Volkswagen Groups Sales India saidampldquoPolo GT has been the first choice for buyers who seek strong power delivery and class leading efficiency both perfectlycombined in a single carline The GT badge has always instilled the pride of owing the best and the Polo GT Sport edition takes it anotch higher further increasing the sport quotient of the vehicle With this offering we are providing our consumers with an option tochoose a sportier variant of the most loved hatchback the Polo GTamprdquo
The car is aimed at buyers who seek a sportier feel from their vehicle said the companys release The car is powered by the same12L TSI and 15L TDI enginethat sheds a power of 105PS and 110PS of power respectively
The Polo GT Sport limited edition will cost Rs 20000 over the ex-showroom price The company has not restricted the number ofunits but a source close to the company says that the limited edition Volkswagen Polo GT Sport will be on sale for about threemonths The company is offering the car in two color options Flash red and Candy Whitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarslimited-edition-volkswagen-polo-gt-sport-introduced-in-india58358347Volkswagen launches limited edition Polo GT Sport The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesvolkswagen-launches-limited-edition-polo-gt-sportarticle9662500eceVolkswagen launches limited edition Polo GT SportThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesvolkswagen-launches-limited-edition-polo-gt-sportarticleshow58359963cmsVolkswagen launches Polo GT Sport starting price is Rs 911 lakhBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesvolkswagen-launches-polo-gt-sport-starting-at-rs-9-11-lakh-117042500541_1html2017 Volkswagen Polo GT Sport edition launchedAutocar Indiahttpwwwautocarindiacomauto-news2017-volkswagen-polo-gt-sport-edition-launched-404778aspxVolkswagen launches Polo GT Sport priced up to Rs 921 lakhDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos250417volkswagen-launches-polo-gt-sport-priced-up-to-rs-921-lakhhtml
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Maruti Suzuki Dzire goes solo on Balenos platform Ronak ShahThe Economic Times (Web Edition)
New Delhi Maruti Suzuki Dzire is the second product from the companyamprsquos stable which is built on theamplsquoHeartectamprsquo platform after Maruti Suzuki Baleno
The platform is the fifth-generation B-platform and has helped the market leader to bring in the proper sedan proportion on thesub-4-meter sedan Currently the company has multiple platforms for its existing vehicles and it will be looking at consolidating theplatforms With the launch of new generation Maruti Suzuki Baleno and Maruti Suzuki Ignis the company launched two new fifthgeneration A and B platforms Ignis sits on the A+ platform while the Maruti Suzuki Vitara Brezza sits on a different C platform all
together
Introduction of new platforms has helped Maruti Suzuki to meet the upcoming safety regulation which comes to play from October12017 for new models Like the Baleno and Ignis the new generation Maruti Suzuki Dzire meets all the future safety norms andmeets the frontal offset side-impact and pedestrian safety norms and gets dual airbags and ABS with EBD as a standard safetyfeature claims the company
Apart from the safety aspect Maruti Suzuki also has given away the Swift name as the company believes that Dzire will now standout independently and doesnamprsquot need the Swift to support its sales
The first and second generation Swift Dzire were based on the hatch whereas the new generation Dzire is now based on the Balenoplatform Maruti Suzuki has also made changes to the overall proportion of the car to create more space and make the car lightweight
When compared to the current generation Maruti Suzuki Swift Dzire the next generation Dzire now sits 40 mm lower in height at1515 mm The wheelbase and width of the car has gone up 20 mm and 40 mm respectively The wheelbase of Dzire is now 2450mm and the width of the car is 1735 mm The increase in width has resulted in an increase in rear shoulder room by 30 mm andfront shoulder room by 20 mm claims the company Extra wheelbase has transformed to a larger boot space at 376 liters thanexisting 310 liters
The redesigned A-pillar in now curvier giving the car that sedan look that the company desired The face of the car is in line to thenew generation Maruti Suzuki Swift which India will get by end of this ongoing financial year
Maruti Suzuki also claims that the weight of the base petrol variants has gone down by 105 kgs and the base diesel variants willnow weight 85 kgs less With addition of more features on the higher variants the weight of the car will change added the companyThe use of ultra-high tensile and high tensile steel has helped the company to achieve weight reduction which will also transforminto better performance and overall fuel efficiency of the car The company will reveal the claimed mileage figures on the day of thelaunch which is scheduled on 16th May 2017 bookings of New Dzire will begin on 1st week of May 2017
Maruti Suzuki Dzire will be available is four petrol and four diesel variants with the option of Auto-gear shift (AGS) or AMT gearboxavailable on both petrol and diesel versions Maruti Suzuki has sold over 138 lakh units of Maruti Suzuki Swift Dzire since its launchin 2008 and has been the only sedan in top 5 most selling cars in the Indian car markethttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-dzire-goes-solo-on-balenos-platform58357606
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New 2017 Maruti Suzuki Dzire booking opens at Rs 5000 The Economic Times (Web Edition)
New Delhi Indias largest selling sub-4 metre sedan Maruti Suzuki Dzire which is slated for launch mid next month can be bookedwith a minimum amount of Rs 5000 at some dealerships in Delhi NCR
However the company has officially announced that the booking will start early next month as it is also looking out for onlinebooking options
As per dealership sources The new Dzire is expected to Rs 50000- Rs 70000 pricier than the outgoing model The dealership isalso offering a discount of Rs 15000 on Diesel model to clear out the inventory
2017 Maruti Suzuki Dzire has not just shed the weight by 20 Kgs but it has also let go the Swift badging Similar to new models likeCiaz and Vitara Brezza the Dzire will come in plus variants such as VDI+ ZDI+ etc Being the largest selling car in the segment thecompany is confident to further expand the market
While the design of the car has gone for an overhaul change the power unit for both petrol and diesel engine remains the same asthe old generation Moreover the company is offering Auto Gear shift (AGS) or AMT in four petrol and diesel variants The weightloss from the overall car will certainly add to the performance and mileage of the entry level sedan
Till now the company has sold over 13 lakh Dzires in both personal and commercial segmenthttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsnew-2017-maruti-suzuki-dzire-booking-opens-at-rs-500058360645
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Marutis new Dzire will roll out on 16 May What to expect PTISee this story inBusiness Standard (Web Edition)
New Delhi Car market leader Maruti Suzuki India (MSI) is seeking to revive growth in compact sedan segment in the country withthe launch of its third generation Dzire next month
The company which has till date sold 1381 lakh units of the model in India since its launch in March 2008 will roll out an all-newversion of Dzire on May 16
The sub-four metre compact sedan segment has witnessed decline in sales In 2016-17 it clocked 402608 units as against
440735 units in 2015-16 down 865 per cent
MSIs Dzire sales declined by 1467 per cent at 199878 units in financial year 2016-17 as against 234242 units in the previousyear Despite the decline the model accounted for 50 per cent of the total sales in the segment
Due to capacity constraints we had to adjust production of certain models including Dzire in order to reduce long waiting period ofmodels like Baleno and Vitara Brezza MSI Executive Director Sales and Marketing RS Kalsi told reporters here
With additional capacity of 15 lakh units available for this fiscal from Suzukis Gujarat plant he said the pressure will ease and it willbenefit models like Dzire
We have 50 per cent market share in the compact sedan segment where Dzire is present and with the launch of next generationedition we are looking to maintain the sales momentum Kalsi said
Last week rival Hyundai Motors India had also launched an upgraded version of Xcent that competes with Dzire Tata Motors hasalso introduced its Tigor
Besides these the new Dzire will also compete with Honda Amaze Ford Aspire and Volkswagen Ameo
These models are priced in the range of Rs 47 lakh to Rs 841 lakh
Inspite of the competition we have been doing the numbers (for Dzire) We are sure that with the new edition we are going tosurpass the earlier numbers and would also certainly help the market grow Kalsi said
Commenting on the upcoming model MSI Executive Director RampD C V Raman said the new Dzire has been developed on 5thgeneration Heartect platform which helps in weight reduction and improve frame rigidity
The new Dzire also meets frontal side and pedestrian safety norms that will start kicking in from October this year he added
It is the sixth model from Maruti which meets safety regulations ahead of time Raman said
The new model would be mainly produced at the companys Manesar facility
The present generation Dzire would now be sold as Dzire Tour to the fleet operators with the launch of the updated version in Mayhe added
The car would be launched with a 12 litre petrol engine and a 13 litre diesel powertrain The new vehicle would also feature AGS(auto gear shift) transmission in both petrol and diesel options
Last fiscal Dzire came third in the top ten best selling list of passenger vehicles It was the second best selling model among thepassenger vehicles in 2015-16
Last full model change of the Dzire happened in February 2012 Last year the company launched the compact sedan with autogear shift (AGS) technologyhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-new-dzire-will-roll-out-on-16-may-what-to-expect-117042400898_1html
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Marutis most expensive car S-Cross crosses its first major milestone Ajay ModiBusiness Standard (Web Edition)
New Delhi S-Cross the most expensive vehicle from Maruti Suzuki has managed to cross a milestone of 50000 units in salesLaunched in August 2015 the vehicle had seen an initial phase of weakness due to its pricing and competition fromHyundaiamprsquos Creta launched days before S-Cross
The countryamprsquos largest car maker has sold over 46000 units of S-Cross in domestic market since launch data with Siamshowed More than 4000 vehicles have been exported to different destinations The vehicle positioned as a crossover had seenchallenges post the launch
Within a couple of months of the launch in August 2015 there was a sizeable discount of up to Rs 90000 on S-Cross Marutiadmitted it went wrong on pricing of the 16 litre vehicle When the S-Cross was launched the 16-litre option was priced at Rs1199 lakh Rs 1299 lakh and Rs 1374 lakh for the base mid and top-end models In January 2016 price was corrected to Rs 994lakh Rs 1094 lakh and Rs 1169 lakh respectively S Cross now comes in the price range of Rs 807 lakh to Rs 1064 lakh for the13 litre engine and at Rs 1204 lakh for the 16 litre engine
ampldquoThe price to value equation on 16 litre was not appreciated by customers and we responded by correcting price Thecrossover is a new concept in India as it is placed between the sedan and SUV People are yet to get used to this concept of onevehicle that can be used as a SUV for weekend drives and an office vehicle for weekdays That is now evolving Our target was2500 units a month and at this number we become a market leaderamprdquo said R S Kalsi executive director (marketing amp sales)at Maruti Suzuki
With S-Cross Maruti Suzuki was attempting to break into a new segment which was also meant to be premium compared to mostof its other products Naturally the vehicle generated lot of expectations Comparisons were drawn with other large selling vehicles
from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
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Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
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Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
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Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
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Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
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Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
Under the JEC there are Joint Working Groups in the following areas Infrastructure Tourism Railways Food ProcessingRenewable Energy Information Technology and Agriculture The 18th session of the JEC was held in New Delhi in December2009
In June 2014 Air India National Carrier of India started connecting Rome and Milan of Italy with New Delhi giving opportunity toboth tourists and business people from India and Italy to visit each other country for both tourism and business purposeshttpautoeconomictimesindiatimescomnewspolicyunder-gst-italy-eyeing-greater-participation-in-sectors-like-auto-in-india58362099
Top
Interviews amp Features
Cars SUVs MUVs
Limited edition Volkswagen Polo GT Sport introduced in India The Economic Times (Web Edition)
Mumbai Indian arm of the German auto maker Volkswagen India in a press release said that the company has launched a limitededition of the Polo GT - Polo GT Sport
The company claims that the Polo GT Sport is equipped with a host of exterior and interior updates and will be available across boththe variants of Polo GT at all Volkswagen dealerships in India
On the exterior the GT Sport edition hatch gets a glossy black spoiler 16amprdquo Portago alloy wheels and Glossy black roof foilInside the limited edition Polo GT sport comes fitted with leather finished seats with GT sport embossed on seat covers
Announcing the launch of Polo GT Sport Thierry Lespiaucq ampndash Managing Director Volkswagen Groups Sales India saidampldquoPolo GT has been the first choice for buyers who seek strong power delivery and class leading efficiency both perfectlycombined in a single carline The GT badge has always instilled the pride of owing the best and the Polo GT Sport edition takes it anotch higher further increasing the sport quotient of the vehicle With this offering we are providing our consumers with an option tochoose a sportier variant of the most loved hatchback the Polo GTamprdquo
The car is aimed at buyers who seek a sportier feel from their vehicle said the companys release The car is powered by the same12L TSI and 15L TDI enginethat sheds a power of 105PS and 110PS of power respectively
The Polo GT Sport limited edition will cost Rs 20000 over the ex-showroom price The company has not restricted the number ofunits but a source close to the company says that the limited edition Volkswagen Polo GT Sport will be on sale for about threemonths The company is offering the car in two color options Flash red and Candy Whitehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarslimited-edition-volkswagen-polo-gt-sport-introduced-in-india58358347Volkswagen launches limited edition Polo GT Sport The Hindu Business Line (Web Edition)httpwwwthehindubusinesslinecomcompaniesvolkswagen-launches-limited-edition-polo-gt-sportarticle9662500eceVolkswagen launches limited edition Polo GT SportThe Times of India (Web Edition)httptimesofindiaindiatimescomautolaunchesvolkswagen-launches-limited-edition-polo-gt-sportarticleshow58359963cmsVolkswagen launches Polo GT Sport starting price is Rs 911 lakhBusiness Standard (Web amp Print Edition)httpwwwbusiness-standardcomarticlecompaniesvolkswagen-launches-polo-gt-sport-starting-at-rs-9-11-lakh-117042500541_1html2017 Volkswagen Polo GT Sport edition launchedAutocar Indiahttpwwwautocarindiacomauto-news2017-volkswagen-polo-gt-sport-edition-launched-404778aspxVolkswagen launches Polo GT Sport priced up to Rs 921 lakhDeccan Chronicle (Web Edition)httpwwwdeccanchroniclecombusinessautos250417volkswagen-launches-polo-gt-sport-priced-up-to-rs-921-lakhhtml
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Maruti Suzuki Dzire goes solo on Balenos platform Ronak ShahThe Economic Times (Web Edition)
New Delhi Maruti Suzuki Dzire is the second product from the companyamprsquos stable which is built on theamplsquoHeartectamprsquo platform after Maruti Suzuki Baleno
The platform is the fifth-generation B-platform and has helped the market leader to bring in the proper sedan proportion on thesub-4-meter sedan Currently the company has multiple platforms for its existing vehicles and it will be looking at consolidating theplatforms With the launch of new generation Maruti Suzuki Baleno and Maruti Suzuki Ignis the company launched two new fifthgeneration A and B platforms Ignis sits on the A+ platform while the Maruti Suzuki Vitara Brezza sits on a different C platform all
together
Introduction of new platforms has helped Maruti Suzuki to meet the upcoming safety regulation which comes to play from October12017 for new models Like the Baleno and Ignis the new generation Maruti Suzuki Dzire meets all the future safety norms andmeets the frontal offset side-impact and pedestrian safety norms and gets dual airbags and ABS with EBD as a standard safetyfeature claims the company
Apart from the safety aspect Maruti Suzuki also has given away the Swift name as the company believes that Dzire will now standout independently and doesnamprsquot need the Swift to support its sales
The first and second generation Swift Dzire were based on the hatch whereas the new generation Dzire is now based on the Balenoplatform Maruti Suzuki has also made changes to the overall proportion of the car to create more space and make the car lightweight
When compared to the current generation Maruti Suzuki Swift Dzire the next generation Dzire now sits 40 mm lower in height at1515 mm The wheelbase and width of the car has gone up 20 mm and 40 mm respectively The wheelbase of Dzire is now 2450mm and the width of the car is 1735 mm The increase in width has resulted in an increase in rear shoulder room by 30 mm andfront shoulder room by 20 mm claims the company Extra wheelbase has transformed to a larger boot space at 376 liters thanexisting 310 liters
The redesigned A-pillar in now curvier giving the car that sedan look that the company desired The face of the car is in line to thenew generation Maruti Suzuki Swift which India will get by end of this ongoing financial year
Maruti Suzuki also claims that the weight of the base petrol variants has gone down by 105 kgs and the base diesel variants willnow weight 85 kgs less With addition of more features on the higher variants the weight of the car will change added the companyThe use of ultra-high tensile and high tensile steel has helped the company to achieve weight reduction which will also transforminto better performance and overall fuel efficiency of the car The company will reveal the claimed mileage figures on the day of thelaunch which is scheduled on 16th May 2017 bookings of New Dzire will begin on 1st week of May 2017
Maruti Suzuki Dzire will be available is four petrol and four diesel variants with the option of Auto-gear shift (AGS) or AMT gearboxavailable on both petrol and diesel versions Maruti Suzuki has sold over 138 lakh units of Maruti Suzuki Swift Dzire since its launchin 2008 and has been the only sedan in top 5 most selling cars in the Indian car markethttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-dzire-goes-solo-on-balenos-platform58357606
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New 2017 Maruti Suzuki Dzire booking opens at Rs 5000 The Economic Times (Web Edition)
New Delhi Indias largest selling sub-4 metre sedan Maruti Suzuki Dzire which is slated for launch mid next month can be bookedwith a minimum amount of Rs 5000 at some dealerships in Delhi NCR
However the company has officially announced that the booking will start early next month as it is also looking out for onlinebooking options
As per dealership sources The new Dzire is expected to Rs 50000- Rs 70000 pricier than the outgoing model The dealership isalso offering a discount of Rs 15000 on Diesel model to clear out the inventory
2017 Maruti Suzuki Dzire has not just shed the weight by 20 Kgs but it has also let go the Swift badging Similar to new models likeCiaz and Vitara Brezza the Dzire will come in plus variants such as VDI+ ZDI+ etc Being the largest selling car in the segment thecompany is confident to further expand the market
While the design of the car has gone for an overhaul change the power unit for both petrol and diesel engine remains the same asthe old generation Moreover the company is offering Auto Gear shift (AGS) or AMT in four petrol and diesel variants The weightloss from the overall car will certainly add to the performance and mileage of the entry level sedan
Till now the company has sold over 13 lakh Dzires in both personal and commercial segmenthttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsnew-2017-maruti-suzuki-dzire-booking-opens-at-rs-500058360645
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Marutis new Dzire will roll out on 16 May What to expect PTISee this story inBusiness Standard (Web Edition)
New Delhi Car market leader Maruti Suzuki India (MSI) is seeking to revive growth in compact sedan segment in the country withthe launch of its third generation Dzire next month
The company which has till date sold 1381 lakh units of the model in India since its launch in March 2008 will roll out an all-newversion of Dzire on May 16
The sub-four metre compact sedan segment has witnessed decline in sales In 2016-17 it clocked 402608 units as against
440735 units in 2015-16 down 865 per cent
MSIs Dzire sales declined by 1467 per cent at 199878 units in financial year 2016-17 as against 234242 units in the previousyear Despite the decline the model accounted for 50 per cent of the total sales in the segment
Due to capacity constraints we had to adjust production of certain models including Dzire in order to reduce long waiting period ofmodels like Baleno and Vitara Brezza MSI Executive Director Sales and Marketing RS Kalsi told reporters here
With additional capacity of 15 lakh units available for this fiscal from Suzukis Gujarat plant he said the pressure will ease and it willbenefit models like Dzire
We have 50 per cent market share in the compact sedan segment where Dzire is present and with the launch of next generationedition we are looking to maintain the sales momentum Kalsi said
Last week rival Hyundai Motors India had also launched an upgraded version of Xcent that competes with Dzire Tata Motors hasalso introduced its Tigor
Besides these the new Dzire will also compete with Honda Amaze Ford Aspire and Volkswagen Ameo
These models are priced in the range of Rs 47 lakh to Rs 841 lakh
Inspite of the competition we have been doing the numbers (for Dzire) We are sure that with the new edition we are going tosurpass the earlier numbers and would also certainly help the market grow Kalsi said
Commenting on the upcoming model MSI Executive Director RampD C V Raman said the new Dzire has been developed on 5thgeneration Heartect platform which helps in weight reduction and improve frame rigidity
The new Dzire also meets frontal side and pedestrian safety norms that will start kicking in from October this year he added
It is the sixth model from Maruti which meets safety regulations ahead of time Raman said
The new model would be mainly produced at the companys Manesar facility
The present generation Dzire would now be sold as Dzire Tour to the fleet operators with the launch of the updated version in Mayhe added
The car would be launched with a 12 litre petrol engine and a 13 litre diesel powertrain The new vehicle would also feature AGS(auto gear shift) transmission in both petrol and diesel options
Last fiscal Dzire came third in the top ten best selling list of passenger vehicles It was the second best selling model among thepassenger vehicles in 2015-16
Last full model change of the Dzire happened in February 2012 Last year the company launched the compact sedan with autogear shift (AGS) technologyhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-new-dzire-will-roll-out-on-16-may-what-to-expect-117042400898_1html
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Marutis most expensive car S-Cross crosses its first major milestone Ajay ModiBusiness Standard (Web Edition)
New Delhi S-Cross the most expensive vehicle from Maruti Suzuki has managed to cross a milestone of 50000 units in salesLaunched in August 2015 the vehicle had seen an initial phase of weakness due to its pricing and competition fromHyundaiamprsquos Creta launched days before S-Cross
The countryamprsquos largest car maker has sold over 46000 units of S-Cross in domestic market since launch data with Siamshowed More than 4000 vehicles have been exported to different destinations The vehicle positioned as a crossover had seenchallenges post the launch
Within a couple of months of the launch in August 2015 there was a sizeable discount of up to Rs 90000 on S-Cross Marutiadmitted it went wrong on pricing of the 16 litre vehicle When the S-Cross was launched the 16-litre option was priced at Rs1199 lakh Rs 1299 lakh and Rs 1374 lakh for the base mid and top-end models In January 2016 price was corrected to Rs 994lakh Rs 1094 lakh and Rs 1169 lakh respectively S Cross now comes in the price range of Rs 807 lakh to Rs 1064 lakh for the13 litre engine and at Rs 1204 lakh for the 16 litre engine
ampldquoThe price to value equation on 16 litre was not appreciated by customers and we responded by correcting price Thecrossover is a new concept in India as it is placed between the sedan and SUV People are yet to get used to this concept of onevehicle that can be used as a SUV for weekend drives and an office vehicle for weekdays That is now evolving Our target was2500 units a month and at this number we become a market leaderamprdquo said R S Kalsi executive director (marketing amp sales)at Maruti Suzuki
With S-Cross Maruti Suzuki was attempting to break into a new segment which was also meant to be premium compared to mostof its other products Naturally the vehicle generated lot of expectations Comparisons were drawn with other large selling vehicles
from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
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Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
Top
Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
Top
Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
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Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
Top
E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
Top
Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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together
Introduction of new platforms has helped Maruti Suzuki to meet the upcoming safety regulation which comes to play from October12017 for new models Like the Baleno and Ignis the new generation Maruti Suzuki Dzire meets all the future safety norms andmeets the frontal offset side-impact and pedestrian safety norms and gets dual airbags and ABS with EBD as a standard safetyfeature claims the company
Apart from the safety aspect Maruti Suzuki also has given away the Swift name as the company believes that Dzire will now standout independently and doesnamprsquot need the Swift to support its sales
The first and second generation Swift Dzire were based on the hatch whereas the new generation Dzire is now based on the Balenoplatform Maruti Suzuki has also made changes to the overall proportion of the car to create more space and make the car lightweight
When compared to the current generation Maruti Suzuki Swift Dzire the next generation Dzire now sits 40 mm lower in height at1515 mm The wheelbase and width of the car has gone up 20 mm and 40 mm respectively The wheelbase of Dzire is now 2450mm and the width of the car is 1735 mm The increase in width has resulted in an increase in rear shoulder room by 30 mm andfront shoulder room by 20 mm claims the company Extra wheelbase has transformed to a larger boot space at 376 liters thanexisting 310 liters
The redesigned A-pillar in now curvier giving the car that sedan look that the company desired The face of the car is in line to thenew generation Maruti Suzuki Swift which India will get by end of this ongoing financial year
Maruti Suzuki also claims that the weight of the base petrol variants has gone down by 105 kgs and the base diesel variants willnow weight 85 kgs less With addition of more features on the higher variants the weight of the car will change added the companyThe use of ultra-high tensile and high tensile steel has helped the company to achieve weight reduction which will also transforminto better performance and overall fuel efficiency of the car The company will reveal the claimed mileage figures on the day of thelaunch which is scheduled on 16th May 2017 bookings of New Dzire will begin on 1st week of May 2017
Maruti Suzuki Dzire will be available is four petrol and four diesel variants with the option of Auto-gear shift (AGS) or AMT gearboxavailable on both petrol and diesel versions Maruti Suzuki has sold over 138 lakh units of Maruti Suzuki Swift Dzire since its launchin 2008 and has been the only sedan in top 5 most selling cars in the Indian car markethttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsmaruti-suzuki-dzire-goes-solo-on-balenos-platform58357606
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New 2017 Maruti Suzuki Dzire booking opens at Rs 5000 The Economic Times (Web Edition)
New Delhi Indias largest selling sub-4 metre sedan Maruti Suzuki Dzire which is slated for launch mid next month can be bookedwith a minimum amount of Rs 5000 at some dealerships in Delhi NCR
However the company has officially announced that the booking will start early next month as it is also looking out for onlinebooking options
As per dealership sources The new Dzire is expected to Rs 50000- Rs 70000 pricier than the outgoing model The dealership isalso offering a discount of Rs 15000 on Diesel model to clear out the inventory
2017 Maruti Suzuki Dzire has not just shed the weight by 20 Kgs but it has also let go the Swift badging Similar to new models likeCiaz and Vitara Brezza the Dzire will come in plus variants such as VDI+ ZDI+ etc Being the largest selling car in the segment thecompany is confident to further expand the market
While the design of the car has gone for an overhaul change the power unit for both petrol and diesel engine remains the same asthe old generation Moreover the company is offering Auto Gear shift (AGS) or AMT in four petrol and diesel variants The weightloss from the overall car will certainly add to the performance and mileage of the entry level sedan
Till now the company has sold over 13 lakh Dzires in both personal and commercial segmenthttpautoeconomictimesindiatimescomnewspassenger-vehiclecarsnew-2017-maruti-suzuki-dzire-booking-opens-at-rs-500058360645
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Marutis new Dzire will roll out on 16 May What to expect PTISee this story inBusiness Standard (Web Edition)
New Delhi Car market leader Maruti Suzuki India (MSI) is seeking to revive growth in compact sedan segment in the country withthe launch of its third generation Dzire next month
The company which has till date sold 1381 lakh units of the model in India since its launch in March 2008 will roll out an all-newversion of Dzire on May 16
The sub-four metre compact sedan segment has witnessed decline in sales In 2016-17 it clocked 402608 units as against
440735 units in 2015-16 down 865 per cent
MSIs Dzire sales declined by 1467 per cent at 199878 units in financial year 2016-17 as against 234242 units in the previousyear Despite the decline the model accounted for 50 per cent of the total sales in the segment
Due to capacity constraints we had to adjust production of certain models including Dzire in order to reduce long waiting period ofmodels like Baleno and Vitara Brezza MSI Executive Director Sales and Marketing RS Kalsi told reporters here
With additional capacity of 15 lakh units available for this fiscal from Suzukis Gujarat plant he said the pressure will ease and it willbenefit models like Dzire
We have 50 per cent market share in the compact sedan segment where Dzire is present and with the launch of next generationedition we are looking to maintain the sales momentum Kalsi said
Last week rival Hyundai Motors India had also launched an upgraded version of Xcent that competes with Dzire Tata Motors hasalso introduced its Tigor
Besides these the new Dzire will also compete with Honda Amaze Ford Aspire and Volkswagen Ameo
These models are priced in the range of Rs 47 lakh to Rs 841 lakh
Inspite of the competition we have been doing the numbers (for Dzire) We are sure that with the new edition we are going tosurpass the earlier numbers and would also certainly help the market grow Kalsi said
Commenting on the upcoming model MSI Executive Director RampD C V Raman said the new Dzire has been developed on 5thgeneration Heartect platform which helps in weight reduction and improve frame rigidity
The new Dzire also meets frontal side and pedestrian safety norms that will start kicking in from October this year he added
It is the sixth model from Maruti which meets safety regulations ahead of time Raman said
The new model would be mainly produced at the companys Manesar facility
The present generation Dzire would now be sold as Dzire Tour to the fleet operators with the launch of the updated version in Mayhe added
The car would be launched with a 12 litre petrol engine and a 13 litre diesel powertrain The new vehicle would also feature AGS(auto gear shift) transmission in both petrol and diesel options
Last fiscal Dzire came third in the top ten best selling list of passenger vehicles It was the second best selling model among thepassenger vehicles in 2015-16
Last full model change of the Dzire happened in February 2012 Last year the company launched the compact sedan with autogear shift (AGS) technologyhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-new-dzire-will-roll-out-on-16-may-what-to-expect-117042400898_1html
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Marutis most expensive car S-Cross crosses its first major milestone Ajay ModiBusiness Standard (Web Edition)
New Delhi S-Cross the most expensive vehicle from Maruti Suzuki has managed to cross a milestone of 50000 units in salesLaunched in August 2015 the vehicle had seen an initial phase of weakness due to its pricing and competition fromHyundaiamprsquos Creta launched days before S-Cross
The countryamprsquos largest car maker has sold over 46000 units of S-Cross in domestic market since launch data with Siamshowed More than 4000 vehicles have been exported to different destinations The vehicle positioned as a crossover had seenchallenges post the launch
Within a couple of months of the launch in August 2015 there was a sizeable discount of up to Rs 90000 on S-Cross Marutiadmitted it went wrong on pricing of the 16 litre vehicle When the S-Cross was launched the 16-litre option was priced at Rs1199 lakh Rs 1299 lakh and Rs 1374 lakh for the base mid and top-end models In January 2016 price was corrected to Rs 994lakh Rs 1094 lakh and Rs 1169 lakh respectively S Cross now comes in the price range of Rs 807 lakh to Rs 1064 lakh for the13 litre engine and at Rs 1204 lakh for the 16 litre engine
ampldquoThe price to value equation on 16 litre was not appreciated by customers and we responded by correcting price Thecrossover is a new concept in India as it is placed between the sedan and SUV People are yet to get used to this concept of onevehicle that can be used as a SUV for weekend drives and an office vehicle for weekdays That is now evolving Our target was2500 units a month and at this number we become a market leaderamprdquo said R S Kalsi executive director (marketing amp sales)at Maruti Suzuki
With S-Cross Maruti Suzuki was attempting to break into a new segment which was also meant to be premium compared to mostof its other products Naturally the vehicle generated lot of expectations Comparisons were drawn with other large selling vehicles
from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
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Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
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Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
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Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
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Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
Top
E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
Top
Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
Top
Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
Top
Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
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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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Powered by Enablingbiz Esoluttions
440735 units in 2015-16 down 865 per cent
MSIs Dzire sales declined by 1467 per cent at 199878 units in financial year 2016-17 as against 234242 units in the previousyear Despite the decline the model accounted for 50 per cent of the total sales in the segment
Due to capacity constraints we had to adjust production of certain models including Dzire in order to reduce long waiting period ofmodels like Baleno and Vitara Brezza MSI Executive Director Sales and Marketing RS Kalsi told reporters here
With additional capacity of 15 lakh units available for this fiscal from Suzukis Gujarat plant he said the pressure will ease and it willbenefit models like Dzire
We have 50 per cent market share in the compact sedan segment where Dzire is present and with the launch of next generationedition we are looking to maintain the sales momentum Kalsi said
Last week rival Hyundai Motors India had also launched an upgraded version of Xcent that competes with Dzire Tata Motors hasalso introduced its Tigor
Besides these the new Dzire will also compete with Honda Amaze Ford Aspire and Volkswagen Ameo
These models are priced in the range of Rs 47 lakh to Rs 841 lakh
Inspite of the competition we have been doing the numbers (for Dzire) We are sure that with the new edition we are going tosurpass the earlier numbers and would also certainly help the market grow Kalsi said
Commenting on the upcoming model MSI Executive Director RampD C V Raman said the new Dzire has been developed on 5thgeneration Heartect platform which helps in weight reduction and improve frame rigidity
The new Dzire also meets frontal side and pedestrian safety norms that will start kicking in from October this year he added
It is the sixth model from Maruti which meets safety regulations ahead of time Raman said
The new model would be mainly produced at the companys Manesar facility
The present generation Dzire would now be sold as Dzire Tour to the fleet operators with the launch of the updated version in Mayhe added
The car would be launched with a 12 litre petrol engine and a 13 litre diesel powertrain The new vehicle would also feature AGS(auto gear shift) transmission in both petrol and diesel options
Last fiscal Dzire came third in the top ten best selling list of passenger vehicles It was the second best selling model among thepassenger vehicles in 2015-16
Last full model change of the Dzire happened in February 2012 Last year the company launched the compact sedan with autogear shift (AGS) technologyhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-new-dzire-will-roll-out-on-16-may-what-to-expect-117042400898_1html
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Marutis most expensive car S-Cross crosses its first major milestone Ajay ModiBusiness Standard (Web Edition)
New Delhi S-Cross the most expensive vehicle from Maruti Suzuki has managed to cross a milestone of 50000 units in salesLaunched in August 2015 the vehicle had seen an initial phase of weakness due to its pricing and competition fromHyundaiamprsquos Creta launched days before S-Cross
The countryamprsquos largest car maker has sold over 46000 units of S-Cross in domestic market since launch data with Siamshowed More than 4000 vehicles have been exported to different destinations The vehicle positioned as a crossover had seenchallenges post the launch
Within a couple of months of the launch in August 2015 there was a sizeable discount of up to Rs 90000 on S-Cross Marutiadmitted it went wrong on pricing of the 16 litre vehicle When the S-Cross was launched the 16-litre option was priced at Rs1199 lakh Rs 1299 lakh and Rs 1374 lakh for the base mid and top-end models In January 2016 price was corrected to Rs 994lakh Rs 1094 lakh and Rs 1169 lakh respectively S Cross now comes in the price range of Rs 807 lakh to Rs 1064 lakh for the13 litre engine and at Rs 1204 lakh for the 16 litre engine
ampldquoThe price to value equation on 16 litre was not appreciated by customers and we responded by correcting price Thecrossover is a new concept in India as it is placed between the sedan and SUV People are yet to get used to this concept of onevehicle that can be used as a SUV for weekend drives and an office vehicle for weekdays That is now evolving Our target was2500 units a month and at this number we become a market leaderamprdquo said R S Kalsi executive director (marketing amp sales)at Maruti Suzuki
With S-Cross Maruti Suzuki was attempting to break into a new segment which was also meant to be premium compared to mostof its other products Naturally the vehicle generated lot of expectations Comparisons were drawn with other large selling vehicles
from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
Top
Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
Top
Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
Top
Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
Top
Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
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Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC MediaNext Pvt Ltd
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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from the company
It was after a long gap Maruti had come up with a product that was priced well above Rs 1 million mark The earlier Maruti productsabove the Rs 1 million price mark were Grand Vitara and Kizashi both imported and therefore priced higher due to taxes Both didnot perform in terms of volume
S Cross was also unique in Marutiamprsquos scheme of things because it happened to be the first vehicle to get retailed from thecompanyamprsquos amplsquopremiumamprsquo retail network Nexa Maruti sought to woo the refined and discerning car buyer who wasalso looking for a better automotive customer experience
Maruti did have learning from S Cross and an important one that the average Indian buyer is still conscious about spending andseeks more out of less This was evident when the company launched its premium hatchback Baleno in October 2015 at anaggressive price beginning Rs 499 lakh There is still a waiting period of few months on the Baleno after nineteen months of thelaunchhttpwwwbusiness-standardcomarticlecompaniesmaruti-s-most-expensive-car-s-cross-crosses-its-first-major-milestone-117042500355_1html
Top
Carmakers use big data to drive growth Ajay ModiBusiness Standard (Web amp Print Edition)
New Delhi Arun Mehta got an offer in March he could not refuse
The software professional with a Bengaluru-based information technology (IT) company was happy with his five-year-old HondaCity But in March he got an attractive exchange offer from Honda topped with a loyalty bonus
The company was pitching its new City launched in February Mehta bought the car
The successful sale was backed by an effective use of data Carmakers are actively using information of current customers to drivegrowth
Records of millions of car owners are mined to generate leads pitch sales and get feedback to develop vehicles
Currently India is the fifth-largest car market in the world with annual sales of 3 million cars By 2020 it is projected to be thethird-largest with annual sales of 5 million
Hyundai wants a piece of this pie The second-biggest carmaker in the country gets a third of its sales from repeat buyers It nowwants to increase this number
ampldquoWe have recently refreshed the entire database of our customers by investing huge money in CRM (customer-relationshipmanagement) software Data mining is very useful for repeat buy or upgrades or second purchasesamprdquo said RakeshSrivastava director (sales and marketing) at Hyundai
ampldquoThe CRM also helps us understand what products customers seek That helps in developing new productsamprdquo
The Korean carmaker has sold about 47 million units in the country since its entry in 1998 it sits on a rich database of 39 millioncustomers
The largest carmaker in the country Maruti Suzuki enhances its database at multiple points Sales service exchange insuranceand customer profiling The dealer management data also comes handy
Sanjeev Handa vice-president (marketing) at the company said Maruti has deployed tools which help analyse the vast reservoir ofdata for various functions
ampldquoThrough the collaborative use of data and analytics we are able to track customer preferences and emerging trends Thesebecome important for marketing and sales strategiesamprdquo said Handa
Maruti has introduced automatic transmission in certain models based on data from buying trends This indicates that demandcould pick up if such models were priced right and if it offered a mileage similar to cars with manual transmission
The carmaker has sold about 18 million cars in the country since it started operations in the mid-1980s It sells every second car inthe country and has a database of 132 billion customers This includes customersamprsquo contact information personal details anddetails of car or cars owned
Data analysis requires a specialised skill set So companies have set up dedicated departments comprising data analysis expertsThese departments mine data to derive key insights to acquire or retain customers
ampldquoWe have a team of database analysts who closely monitor customer lifecycle patterns through profiling and segmentationtechniques We are working towards the objective of achieving 10 per cent sales through database marketingamprdquo said Handa
Hyundaiamprsquos Srivastava said the company uses database to reach out to customers with new offers on mail and phone everymonth
ampldquoWe work on upgrade offers and finance packages on the queries that get generatedamprdquo he said If a company loses a
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
Top
Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
Top
Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
Top
Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
Top
VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
Top
E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
Top
Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
Top
Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
Top
Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
customer the database is used to reach out to them to find out the reasons for them moving to a rival brand
Japanese carmaker Honda is also using database in a big way to drive sales
When it launched the new City almost 40 per cent of the initial bookings came from owners who had an older model of the car
ampldquoWe specifically reached out to them For most of our new cars we try to target the existing 12 million customersamprdquo aHonda spokesperson said The database is also useful when manufacturers announce a recall on noticing a defect in several carshttpwwwbusiness-standardcomarticlecompaniescarmakers-use-big-data-to-drive-growth-117042501223_1html
Top
Luxury Cars
A luxury matchup The Hindu (Web amp Print Edition)
Audi recently introduced a 20-litre diesel engine on its impressive A4 sedan How does it stack up againstits diesel rivals fromGermany ampndash the BMW 3-Series and the Mercedes-Benz C-Class
The latest generation of Audi A4 was launched in India in September 2016 and it was on sale until recently with only a 14-litrepetrol engine which was the weakest link in an otherwise excellent chain Audi seems to have more than made amends with thenew diesel version which gets a new 190hp 20-litre amplsquo35 TDIamprsquo engine
And like a dog thatamprsquos just heard a noise in the distance the BMW 3-Series and Mercedes-Benz C-Class have pricked uptheir ears and come running over to see what all the fuss is about
Looking withinItamprsquos worth noting the specs chosen for these three cars in this comparison The Audi is in its top-spec trim with all the bellsand whistles sporting a 20-litre diesel engine that makes 190hp and 400Nm of torque The BMW is in the mid-level Sport Line trimampmdash not the top-end M-Sport variant ampmdash which loses out on the sporty body kit and launch control but this one is bettervalue It comes with a 20-litre diesel making 190hp and 400Nm just like the Audi As for the C-Class itamprsquos the top-of-the-line250d which gets a 204hp 500Nm twin-turbocharged motor thatamprsquos the strongest of the lot At Rs 427 lakh Rs 433 lakh andRs 456 lakh (ex-showroom Delhi) for the BMW Audi and Merc respectively These three compact luxury sedans sport distinctlooks all quite characteristic of their makers and all have a certain appeal The Audi is sharp business-like the Mercedes isflowing elegant and regal and the BMW is hunkered down and overtly sporty
Similarly on the inside they follow their family templates and hereamprsquos where things get a bit more interesting The A4 donsthe latest Audi theme set forth by the Q7 which just reeks of quality The spokes in the steering wheel the Virtual Cockpit digitaldials (a big draw with customers) and the haptic control buttons all make it feel very high-tech Even the free-standing screen forthe MMI system fits in perfectly with this aesthetic unlike in the Mercedes where it looks out of place against the more traditionaldashboard And speaking of the C-Class thereamprsquos really nothing that can match its cabin for sheer wow factor Flowing slatesof polished wood brushed amplsquometalamprsquo inserts separating large expanses of leather and even metal switches and knobs
Though it may have been given a mid-life refresh in early 2016 the 3-Series is the oldest of the trio and thatamprsquos starting toshow in the cabin It definitely feels solidly built but you donamprsquot get that last degree of finesse its newer rivals give you Stilllike the outside the interior has a sporty bent with the dash curved a bit towards the driver and a chunky steering wheel
Sticking with the sporty theme the 3-Seriesamprsquo low-set driver seat makes you feel at one with the car Itamprsquos a nice snugseat too that holds you in place firmly That low-set theme continues in the back where BMW has used the caramprsquos length tomaximise space And it has worked This could very well be the best back seat of this trio
Audi interestingly has done something similar with the new A4 it has moved the rear seat further back for more stretching roomThe Mercedesamprsquo front seats are the largest and best suited to bigger frames
Engine TalkThis 20-litre amplsquo35 TDIamprsquo diesel engine was something that was long anticipated but unfortunately Audi had to spend thetime retrograding this Euro-IV engine to work with our poor-quality BS-IV diesel Despite an improvement with the new engine theBMW is still quite noisy but it never feels too gruff
The C-Classamprsquo noise is a bit more clattery and itamprsquos the one that lingers in your head long after youamprsquove stoppeddriving Apart from the noise though this is an incredibly smooth powertrain The 204hp 21-litre motor just whooshes its wayacross its rev band pinning you back with one constant surge of 500Nm across the rev range Audi has ditched its CVT gearbox forthis generation of A4 diesel and has given it its superb S-tronic seven-speed double-clutch automatic All three are in the sameballpark getting to 100kph from rest ampmdash the Audi doing it in 808sec the Mercedes in 789sec and the BMW clearly thequickest in 725sec Thereamprsquos no doubt that is a serious grudge match Each time a new version of any of these cars comesalong it targets the other twoamprsquos weaknesses with vicious precision and itamprsquos no different this time around
The BMW is still the car to go for if you drive yourself around Plus it still has its luxury car fundamentals intact with a great backseat good ride comfort and a strong engine
However its age is starting to show The C-Class is just a baby S-Class and thatamprsquos in a good way Itamprsquos got that regal
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
Top
Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
Top
Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
Top
E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
charm on the outside and in with all its tech buried underneath the plush veneer The flair of its interior just canamprsquot be beatenand that smooth powerful motor just adds to that feeling of effortless luxury So it seems then that Audi has done its homework withthe new A4 Itamprsquos not perfect of course Itamprsquos not the most engaging to drive and its ride can get a bit unsettled at highspeeds But these faults are not deal-breakers It pushes all the right luxury buttons and thatamprsquos why itamprsquos the winner ofthis comparisonhttpwwwthehinducomtodays-papertp-featurestp-metroplusa-luxury-matchuparticle18211861ece
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Commercial Vehicles
Eicher Trucks and Buses launches new BS-IV Pro 5000 Truck Series The Economic Times (Web amp Print Edition)
New Delhi Indian commercial vehicle manufacturer Eicher Trucks and Buses on Tuesday launched its BS-IV compliant Eicher Pro5000 series of heavy duty trucks ranging between 16T to 40T
With this rollout Eicher that forms part of Volvo Eicher Commercial Vehicles plans to strengthen its presence in the heavy dutysegment and drive modernisation in the commercial transportation sector informed the company in a press statement
Eicher Pro 5000 series is a new range of trucks powered by the E694 engine with i3 EGR technology from Volvo GroupamprsquosEMS 30 tough and robust aggregates and Intelligent Driver Information System
The new range of Eicher trucks will deliver fuel efficiency and optimized operational cost leading to quicker returns on investmentclaims a company statement
Vinod Aggarwal MD and CEO VE Commercial Vehicles said ampldquoWith the launch of Pro 5000 series of heavy duty trucksEicher today has the widest range of HD trucks at various price points to deliver a superior value and suit the needs of allapplication segments of customers in basic value and premium category of trucks These trucks with new BS- IV technologyengines are based on i3-EGR technology
The new E694 engine also includes advanced features based on Volvo Groupamprsquos engine management system EMS 30 andoffers first-in-the-industry features like fuel coaching and cruise control at a competitive price HD trucks segment continues to bethe biggest potential area of growth for us and the launch of Eicher Pro 5000 series will enable us to further enhance our marketshare in the segmentamprdquo
Eicher Pro 5000 series will be available across all major markets of VECVhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcveicher-trucks-and-buses-launches-new-bs-iv-pro-5000-truck-series58361895Eicher launches BS-IV compliant range of heavy duty trucksThe Times of India (Web Edition)httptimesofindiaindiatimescombusinessindia-businesseicher-launches-bs-iv-compliant-range-of-heavy-duty-trucksarticleshow58365383cms
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Eicher buses fly as schools infrastructure drive demand Shahkar AbidiDaily News amp Analysis (Web Edition)
Mumbai Eicher said that it will be supplying 2000-odd buses to Karnataka in the next three months and expects orders from otherstates including Maharashtra and Bihar
Vinod Aggarwal MD and CEO at VE Commercial Vehicles (VECV) which is a joint venture (JV) between Eicher Motors Ltd andVolvo Group said that the bus business is growing backed by demand for school and state transport buses infrastructuredevelopment and smart cities We will start delivering 2000 buses to Karnataka in over next three months Around 1000 havealready been delivered earlier It is both for inter-city as well as intra-city transportation said Aggarwal on the sidelines of thelaunch of companys Pro 5000 series - a range of heavy-duty trucks The PRO series will be available from 16 T to 40 T
Meanwhile the company has started working on developing BS-VI technology which is expected to get implemented by the year2020
The upgradation to BS-VI will happen for over a period of next three years and requires significant investment he added
As per reports the company makes an investment of about Rs 400 crore every year in its product development and a similaramount is likely to be spent on upgradation to BS-VI over the next three years
Indian automobile industry will skip BS-V technology and jump directly to BS-VI by the year 2020 BS-IV has already beenimplemented since the start of this month
VECV last year sold around 58600 units of buses and trucks growing 126 over the previous year The company is into sales anddistribution business of high-end Volvo trucks
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
Talking about the impact of demonetization and BS-IV implementation on the companys performance Aggarwal said that there wasjust a minor effect The fact is we had cut production of our products by almost half in December (producing just around 2500 units)after demonetization and thereby were just having a hand-to-mouth existence at that point in time So when BS-IV implementationorder came from the apex court we just had around 900-1000 units of BS-III vehicles in plant and another 400-500 with dealers Sothis small number of inventory can easily be exported and can even be upgraded to BS-IV he added
Further Aggarwal believes that implementation of GST combined with economic growth in the country and infrastructuredevelopment will give further impetus to the growth of commercial vehicle (CV) sector in Indiahttpwwwdnaindiacommoneyreport-eicher-buses-fly-as-schools-infrastructure-drive-demand-2416247
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VE Commercial Vehicle to invest Rs 500 crore for BS-VI technology Ketan ThakkarThe Economic Times (Web Edition)
With an eye on grabbing 10 segment share in the countrys highly competitive heavy duty truck market VE Commercial Vehiclethe JV company of Eicher Motors and Volvo on Tuesday launched a new range of Pro 5000 series trucks to challenge the top twohome grown truck makers - Tata Motors and Ashok Leyland
The new Pro 5000 series BS IV trucks will be the new entry range for Eicher Motors and it will replace the outgoing BS III VE+range says the company
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company toprice its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology
VE Commercial Vehicle grew by 12-13 in FY-17 registering sales of over 58000 units The company grew its volumes three timesfaster than the overall market
Vinod Aggarwal CEO of VE Commercial Vehicles said this year too the company is aspiring to grow by 10
With the pre-buying and impending GST regulation we expect the first half of FY-18 to be sluggish but we expect the buying tocome back in the second half due to big thrust on infrastructure spends and growing economy If there are no major disruptions wewould aim to outgrow the market and aspire for a 10 growth said Aggarwal
VE Commercial Vehicle has invested close to Rs 400 crore on the BS IV technology and the company has already started workingon the BS VI range of trucks which will entail fresh investment
On an average we invest about Rs 400-500 crore every year and the Pro 5000 series is by product of some of the investment donein the past We would be investing an additional Rs 500 crore for BS VI trucks for future added Aggarwal
The company has already secured about 5 share in the heavy duty truck range with average volumes of about 1000 units a monthand Aggarwal expects Pro 5000 to drive volumes and market share further in the current year accounting for over 80 of thecompanys sales
VE Commercial Vehicle is a strong player in the light and medium duty range (5 to 16 tonnes) with over 33 segment share anddespite modest response to the new Pro Series modern truck range is turning into a decent challenger to Tata Motors and AshokLeyland
Aggarwal says modern truck range in the country have been badly hampered by massive discounting in the industry
The market is still very price driven Majority of the market still focusses on the initial cost of acquisition over a total cost ofownership and discounting has only made matter difficult for modern truck range to grow said Aggarwalhttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvve-commercial-vehicle-to-invest-rs-500-crore-for-bs-vi-technology58362367
Top
Construction amp Agri Machinery
23 Wheelers
Hero MotoCorp eyes 250cc segment electric vehicles Nandini SenguptaThe Economic Times
Chennai Two-wheeler market leader Hero MotoCorp is turning its attention to ampldquosmartampldquo electric vehicles and premiummotorcycles in an effort to expand its presence beyond the mass market commuter bike segment in the 100-125cc category which itdominates
While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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While the company has zeroed in on the 150cc premium segment with three products and a new launch last September sourcessay it will also come up with products in the 250cc and higher capacity market--currently dominated by Royal Enfield--both fordomestic sales as well as for export The 250cc-plus motorcycle market at nearly 7 lakh units per annum in FY16-17 has been thetop growth segment in the two-wheeler market at a 31 clip
In the immediate future though Hero will stay below the 250cc market It already has three products in the 150cc segment--theHunk the Xtreme and the Achiever 150 i3S launched in September last year Lined up this year is the 200cc Xtreme 200S due forlaunch early 2018 While the 70 market leadership in entry-level bikes is still its mainstay Hero is eyeing both premium bikes aswell electric vehicles as part of its future strategy
Sources say it is currently working on developing ampldquosmart EVs with path-breaking technologyampldquo and is looking at bothin-house expertise as well as the solutions be ing developed by Ather the Bengaluru-based startup in which Hero has acquired a2630 stake
When contacted the Hero MotoCorp spokesperson declined to comment on future products saying ampldquoWe will discuss aboutthe new product line-up closer to their launch datesampldquo
The company has invested Rs 2800 crore in building its new manufacturing facilities at Neemrana and Halol as well as setting upthe CIT and a Global Parts Centreampldquohttpeconomictimesindiatimescomnewsindustryautonewstwo-wheelershero-motocorp-eyes-250cc-segment-electric-vehiclesarticleshow58357493cms
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E-Bikes
Components
Allied Industries
Watch how this anti-collision vehicle management system for Indiaacirceurotrades NHs works The Economic Times
New Delhi HP Lubricants and Leo Burnett India has together developed an anti-collision vehicle management system for Indiasnational highways informed the companies in a joint statement released on Tuesday
The innovation that has been conceptualised designed and executed by Leo Burnett India was launched on NH1 in North Indiaalong the Jammu-Srinagar Highway
Talking about the innovation works the companies said the system adopts SmartLife poles at sharp curves and hairpin bends thatemploy advanced networked devices and combine wireless technology radar systems and an anti-collision warning system allpowered by solar PV modules
SmartLife poles are placed on each side of key hairpin bends The poles detect speeds of oncoming vehicles then communicatewith each other to caution approaching vehicles on either sides with a horn
It further added by saying the functionality is achieved by transmitting an electromagnetic wave in 24 GHz frequency range(K-band) and measuring the frequency shift of the reflected electromagnetic wave The frequency shift is caused by the Dopplereffect of the moving target on the electromagnetic wave
As the relative speed between the radar sensor and the target increases the detected frequency shift also increases thus enablingthe radar sensor to precisely determine the target speed
Rajdeepak Das Chief Creative Officer Leo Burnett South Asia said ampldquo2016 recorded numerous accidents across nationalhighways and this is a major concern for local and state administration We are glad to have been behind an innovation thatharnesses the power of technology and uses radar signals to intimate driversamprdquo
Commenting on the project Chander J Singh ampndash Deputy Superintendent of Police Chenani Range said ampldquoTheJammu-Srinagar highway is one of the most dangerous highways in the world It has various hairpin bends and vehicles oftenspeed at these turns resulting in fatal accidents This is a great innovative technology which will help save lives and make our roadssaferamprdquohttpautoeconomictimesindiatimescomnewsindustrywatch-how-this-anti-collision-vehicle-management-system-for-indias-nhs-works58360137
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Autolite enters e-rickshaw space to grow lithium ion battery business Shobha MathurThe Economic Times
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
New Delhi Tapping the push given to electric vehicles by the Indian Government Jaipur-based lighting solutions company AutoliteIndia has diversified into the manufacture of e-rickshaws from early this month Powered by lead acid batteries the e-rickshaws arebeing marketed in three states of Rajasthan Haryana and Uttar Pradesh through the companyamprsquos distribution network of 7dealers
Adarsh Mahipal Gupta director marketing and finance of Autolite India told ETAuto that the company has established a smallproduction set up over 2 acres in its existing premises in Jaipur where currently 500 e-rickshaws are being rolled out per month Theplan is to set up a larger greenfield facility by end FY18 at another location in the city where about 2000 e-rickshaws can bemanufactured monthly in view of their growing market demand
To facilitate this Autolite is in the process of tying up with some investors like non-banking finance companies and high net worthindividuals in the country for part funding of the new plant The facility is expected to attract an investment of Rs 8 crore with partfunding to be routed through internal accruals Currently search is on for the plant site in the city
With the aim of being a long-term player in the EV space Autolite under a joint venture company Highstreet Lighting Limitedestablished a lithium ion battery plant in Gurgaon Haryana last year The JV is working closely with OE manufacturers to supplythem lithium ion batteries on demand Lithium ion batteries will power Autoliteamprsquos e-rickshaws within a couple of months to befollowed by solar powered e-rickshaws as well
Currently trials for both solar and lithium ion e-rickshaws is underway with solar power to be outsourced
Autolite entered into the joint venture for lithium ion batteries last year with Dhampur Sugar holding 30 percent of the stake and aprivate entrepreneur who forms part of the management team and will provide technical expertise holding a stake of 35 percentThe balance 35 percent stake is held by Autolite
Further under a technical tie-up battery cells are being sourced from a Chinese company while battery pack manufacturing andbattery management services are undertaken locally at the manufacturing facility located in the electronics city in Gurgaon Theplant has attracted an investment of Rs 6 crore from the three JV partners in the form of equity and debt
While the cells are common across batteries they are arranged sequentially for different applications in a battery pack explainsAmit Mahipal Gupta joint managing director of Autolite
The battery packs are priced between Rs 500-100000 with the price climbing upwards into crore of rupees according to theapplication He says that EV makers like Tesla harness higher number and bigger cells in their lithium ion battery packs for theirhigh powered cars
Citing the benefits of the lithium ion battery company officials maintain that while costing Rs 75000 for an e-rickshaw it enables25km extra mileage per charge A 48 Volt 80 ampere lithium ion battery requires 3 hours of charging compared to a 6-7 hourcharging by a lead acid battery Moreover the lead acid battery has a life of 6-8 months and costs Rs 25000
A key USP of the lithium ion battery is that it is very light weight and hence reduces the vehicle weight by 90 kg as well Moreover itwill raise the seating capacity in an e-rickshaw to 7-8 people while a lead acid battery operated e-rickshaw can carry 5-6 people
ampldquoWe need volume production of the lithium ion batteries that will reduce its price to Rs 50000 by year endamprdquo says AmitGupta This is expected to bring down the cost of the e-rickshaw as well
The e-rickshaws and lead acid batteries have received government approval from Central Institute of Road Transport (CIRT) PuneAt present the lithium ion batteries are undergoing trials for approvals by the government agency The Gurgaon plant can produce2000-6000 battery packs per day though the current output is still low
Autolite is optimistic of this new business chalking a turnover of Rs 125 crore in 2017-18
Meanwhile the e-rickshaw market is pegged to be worth 100000 units per month pan India with the chunk of it being monopolizedby unorganized players With the National Green Tribunal ban on plying 10 year old diesel vehicles in the Delhi-NCR new life hasbeen breathed into the market for CNG LPG and electric vehicles
A daily rental for an e-rickshaw commands a premium of Rs 250-350 by fleet operators according to Adarsh Gupta Recentlyvarious state as well as the central government has been empowering women by facilitating them to become e-rickshaw drivers thatis also giving a fillip to its market demand
With growth expected in the e-rickshaw market in the coming days Autolite is looking to expand its product portfolio by addingcargo variants as well For instance food carts vegetable carts ice cream vendors dumping carts that are at present manuallyoperated are sending enquiries for converting them to electronically operated versions
It is believed that local vehicle manufacturers like Tata and Mahindra are also expanding their electric vehicle basket and eyeing thee-rickshaw space Overall this is a fast evolving segment providing last mile connectivity and pitted to grow further in areas wheretransportation still poses a challengehttpautoeconomictimesindiatimescomnewscommercial-vehiclelcvautolite-enters-e-rickshaw-space-to-grow-lithium-ion-battery-business58360355
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Emissions Environment
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
Making way for hydrogen-run vehicles Leslie DMontemint
If you are still wondering whether vehicles will run commercially on hydrogen anytime soon you neednamprsquot Cars already run onhydrogen-fuel cells albeit in small numbers Buses and trucks are next in line
Consider the example of Toyota Motor North America Inc which unveiled ampldquoProject Portalamprdquo a hydrogen fuel cellsystem designed for heavy-duty truck use on 19 April The idea was to showcase its effort to broaden the application ofzero-emission fuel-cell technology that can serve a range of industries
Project Portal is a fully functional heavy-duty truck with the power and torque capacity to conduct port drayage operations(transportation of goods over a short distance) while emitting nothing but water vapour Heavy-duty vehicles make up a significantpercentage of the annual emissions output at the Port of Los Angeles and the Portal feasibility study according to Toyota is aimedat providing another path to further reduce emissions
The concept truck generates more than 670 horsepower and 1325 pound feet of torque (force that causes rotation) from two Mirai(Toyota Mirai) fuel-cell stacks and a 12 kilowatt-hour (kWh) battery The concept truck which can take a weight of around 36300kgis estimated to drive more than 200 miles per fill ampldquounder normal drayage operationamprdquo
Closer home Tata Motors Ltd and the Indian Space Research Organization (Isro) said almost a decade back that they werepartnering to make hydrogen-fuelled buses The Starbus fuel-cell bus was first unveiled at the Liquid Propulsion Systems Centre atIsroamprsquos facility in Mahendragiri Tamil Nadu in 2013 And this year on 25 January Tata Motors showcased thecountryamprsquos first fuel-cell bus for intercity commutes in Pune
As for cars that run on hydrogen there were three hydrogen cars publicly available in select markets in 2016ampmdashthe ToyotaMirai Hyundai ix35 FCEV and Honda Clarity Today other vehicle manufacturers such as Audi BMW Ford Mercedes-Benz andGeneral Motors have hydrogen-fuelled cars in the works Toyotaamprsquos Mirai (Japanese for ampldquofutureamprdquo) was the firsthydrogen fuel cell vehicle to be sold commercially It was unveiled at the November 2014 Los Angeles Auto Show Toyota aims tosell 30000 Mirai a year worldwide by 2020 while banking on huge sales in its home nation of Japan
Hydrogen is the lightest element but it has the highest energy content per unit weight of all fuels Its energy density is three timesgreater than that of petrol Hydrogen seldom found on its own in nature typically combines with oxygen and carbon Hydrogen canbe extracted from virtually any hydrogen-containing compound including both renewable and non-renewable resources A fuel cellis an electrochemical device that combines hydrogen and oxygen to produce electricity Fuel-cell vehicles use a completely differentpropulsion system from conventional vehicles that can be two-three times more efficient
We do not however have enough hydrogen fuelling stations Currently there a little over 100 public hydrogen refuelling stationsglobally According to a 6 March report published by Information Trends however close to 5000 fuelling stations will be deployedglobally by 2032 Deployment activity the report notes is particularly brisk in Asia where Japan and Korea are strong proponentsof the hydrogen economy In Europe Denmark was the first country to deploy a nationwide hydrogen fuelling infrastructure thereport said but the real charge is being led by Germany which will be establishing 400 hydrogen fuelling stations over the next sixyears
Another issue is that while electric vehicle (EV) charging stations can be installed at home too and are relatively inexpensivecosting between $200 (around Rs12890) and $1500 on average a hydrogen refuelling station can cost $2-3 million On the flipside fuel-cell-driven cars can be charged as fast as petrol- and diesel-run vehicles as opposed to the hours spent on chargingelectric vehicles
Production of Global Hydrogen Fuel Cell Electric Vehicles (FCEVs) is expected to be more than 70000 vehicles annually by 2027as more automotive OEMs bring FCEVs to market according to a 4 May 2016 FCEV report from IHS Automotive part of IHS Inc
Cutting Edge is a monthly column that explores the melding of science and technologyhttpwwwlivemintcomLeisureNdyZHOJrG72ZmgPyawo5JNMaking-way-for-hydrogenrun-vehicleshtml
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Finance amp Insurance
Mahindra Finance Q4 net falls 37 on higher provisioning write-offs The Hindu Business Line
Mumbai Mahindra amp Mahindra Financial Services reported a 37 per cent dip in standalone net profit in the fourth quarter due tohigher loan provisions and write-offs
The non-banking finance company which provides financial services in the rural and semi-urban markets logged a net profit of Rs234 crore in the reporting quarter ended March 31 2017 against Rs 370 crore in the year-ago period
For FY17 standalone net profit declined 41 per cent to Rs 400 crore from Rs 673 crore in the previous financial year
The board recommended a dividend of 120 per cent ( Rs 240 per share on equity share of Rs 2 each) for the financial year
Consolidated profit after tax and minority interest which includes the financial numbers of subsidiaries Mahindra Insurance Brokers
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
Top
Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
Top
News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
Mahindra Rural Housing Finance and Mahindra Asset Management Company fell 32 per cent to Rs 278 crore during the reportingquarter ( Rs 411 crore in the year-ago period) For FY17 consolidated profit declined by 34 per cent to Rs 512 crore ( Rs 772crore in FY16)
In the reporting quarter standalone total income was up 9 per cent at Rs 1843 crore ( Rs 1690 crore in the year-ago period)
The total value of assets financed rose 23 per cent to Rs 8376 crore ( Rs 6811 crore in the year-ago quarter)
Total assets under management increased 14 per cent year-on-year to Rs 46776 crore as at March-end 2017
The company in a statement said ampldquoNon-performing assets (NPAs) had increased during the first three quarters of the yearin view of lower economic activities and weak farm cash-flow
ampldquoThe fourth quarter witnessed positive change with improved farm cash-flow resulting in reduction of gross and net NPAswith overall improvement in collection efficiencyamprdquo
Loan provisions and write-offs jumped to Rs 361 crore in the reporting quarter as against Rs 109 crore in the year-ago quarterhttpwwwthehindubusinesslinecomtodays-papertp-newsmahindra-finance-q4-net-falls-37-on-higher-provisioning-writeoffsarticle9663566ece
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Mahindra Finance down but not out Aparna Iyermint
The signs are there of rural India limping back to normalcy after being hit hard by the demonetization exercise which purged 86 ofcash from the economy Further confirmation comes in the financial results of Mahindra and Mahindra Financial Services Ltd(Mahindra Finance)
The fourth quarter (Q4) numbers brought a painful year to an unpleasant end It reported a net profit of Rs234 crore a 37 fall fromthe previous year This undershoots the consensus Bloomberg estimate by a huge 29 Provisions more than doubled to Rs3614crore But this is where the bad news ends
Mahindra Financeamprsquos asset quality showed a smart turnaround in Q4 with both gross and net non-performing asset (NPA)ratios improving sharply from the previous quarter Gross NPAs fell to 9 of the loan book from 111 in the previous quarter whilethe net NPA ratio slipped to 36 from 52 The fact that fresh slippages are being contained is another reason to cheer assetquality
In its interaction with analysts the companyamprsquos management explained that while fewer new loans are becoming delinquentold borrowers labelled NPAs are still not able to service their debt
Essentially this means that villages have not yet fully recovered from the note ban and drought conditions in the southern stateshave added to the pain Indeed the Mahindra Finance management also said that NPAs are more geography based (largely fromKarnataka and Tamil Nadu) rather than product based
Be that as it may it looks like the worst is behind the lender in terms of asset quality Sequentially the impressive jump in coreincome margins as well as improvement in bad loan ratios suggest that 2017-18 would be a lot better for Mahindra Finance
What is also heartening is that the company has increased provisions and improved its provision coverage ratio
Given that the stock has recouped most of the losses that it suffered during the demonetization months of November andDecember it seems the good news has been factored in For valuations to look adequate from here on Mahindra Finance will needto strengthen its asset quality in a big way A forecast of a normal monsoon and the managementamprsquos confident outlook augurwellhttpwwwlivemintcomMoneySCNsQs8RDCLcizdfcoFtoOMahindra-Finance-down-but-not-outhtml
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Oil Lubricants amp Alternative Fuels
Crude oil edges up after six days of straight losses ReutersSee this story in The Hindu Business Line
Singapore Oil prices inched up on Tuesday but markets remain under pressure following six consecutive sessions of declines astraders lose confidence that pledged output cuts by major producers will rein in oversupply in a world awash with fuel
US West Texas Intermediate (WTI) crude futures added 24 cents or 05 per cent by 0305 GMT but remained below the $50 markpierced late last week at $4947 a barrel
Brent crude rose 26 cents or 05 percent to $5186 per barrel
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
Top
Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
Traders said the gains were a counter-reaction to consecutive price drops in the previous six sessions
Despite Tuesdays increases market sentiment has turned bearish with Brent down 10 percent since late 2016 despite efforts ledby the Organization of the Petroleum Exporting Countries (OPEC) and Russia to cut output by 18 million barrels per day (bpd) inthe first half of 2017 in order to tighten the market
Given that oil supplies remain at record highs despite the cuts Stephen Schork of the Schork report said on Tuesday that OPEChas failed miserably in its endeavour to balance the oil market
JPMorgan said in its latest weekly market note to clients that ampldquoit is evident that crude markets are still struggling to clear(oversupply)amprdquo
The bank said that it was closing its ampldquoAugust Brent long position at a lossamprdquo
Floating storage economics
Indicating its cautious outlook JPMorgan said that ampldquocrude markets are close to floating storage economics and (this) is abearish sign for output price developmentsamprdquo
Floating storage is a clear indicator of oversupplied markets It is pursued when oil for immediate delivery is so much cheaper thanthat for future dispatch that it becomes profitable for traders to charter tankers to store it for later
JPMorgan said that in order to reduce the ongoing supply overhang OPEC ampldquowill be forced to renew and possibly deepen theagreement if they wish to keep prices much above $50 per barrel
Russia had said on Monday that its oil output could climb to the highest rate in 30 years if OPEC and non-OPEC producers do notextend a supply reduction deal beyond June 30
Thomson Reuters Eikon data shows that Russian oil shipments which exclude its pipeline exports have already reached recordhighs of 5 million bpd in April up 17 per cent since December before the cuts were officially implemented
While producers may hurt under the renewed slack in crude markets consumers like refiners benefit as their production marginsmaking fuels such as gasoline improvehttpwwwthehindubusinesslinecommarketscommoditiescrude-oil-edges-up-after-six-days-of-straight-lossesarticle9661811ece
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News Magazines
New Honda Civic Type R breaks a Nurburgring lap record Autocar India
The new Honda Civic Type R has smashed the Nuumlrburgring lap record for front-wheel-drive cars clocking a 7min 438sec lap timeThis shaves a significant 541sec from the previous record holder the Volkswagen Golf GTI Clubsport S and makes the new TypeR 68sec faster around the amplsquoRing than its predecessor
The new lap record holder is described by Honda as being a development model with technical specifications representative of thefinal car Like the production car it uses a 320hp and 400Nm VTEC turbocharged 20-litre engine
The latest modelamprsquos six-speed manual gearbox also has shorter gear ratios for more urgent performance and the car weighs16kg less than its predecessor at 1366kg No straight-line performance figures have been revealed yet but the car will almostcertainly undercut the 57sec 0-100kph time of the previous one
Hondaamprsquos 10th-generation Civic structure has upped the torsional rigidity of the Type R by 16 percent It also uses newmulti-link rear suspension for improved stability and has a body shape that is claimed to offer a best-in-class performance balancefor lift and drag
Honda set the new amplsquoRing record during the final phase of testing for the model on a dry track with ampldquooptimum ambienttemperature for the best tyre and powertrain performanceamprdquo The caramprsquos only modification was a floating roll cage thatHonda said offered no improvements to rigidity To compensate for the cageamprsquos weight the infotainment system and rearseats were removed
The lead chassis engineer for the new Civic Type R Ryuichi Kijima said ampldquoThe cornering speed achieved in the new Type Ris higher because the car features a wider track and tyres a longer wheelbase new multi-link suspension in the rear and optimisedaerodynamics that improves stabilityampldquo
Kijima explained that this allowed drivers to attack apexes with more pace ampldquoDrivers typically enter the corner afterMetzgesfeld at around 150kph he said Even at this medium-speed corner the speed is around 10kph higher [than the previouscar]amprdquo
Production of the new Civic Type R will begin at Honda UKamprsquos plant in Swindon this summer before going on sale in the
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
Top
Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
autumn Prices are expected to rise compared with the previous caramprsquos pound30200 (estimated Rs 30 lakh)httpwwwautocarindiacomauto-newsnew-honda-civic-type-r-breaks-a-nurburgring-lap-record-404782aspx
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Mahindra TUV300 KUV100 sales cross 50000 units Autocar India
Launched in September 2015 the TUV300 is underpinned by the new Scorpioamprsquos chassis which is the traditionalbody-on-ladder-frame and the toughness that comes from using this construction stands out in a segment full of car-likemonocoque crossovers In fact the amplsquoTamprsquo in TUV stands for amplsquoToughamprsquo It also benefits from a cost-effectiveAutomated Manual Transmission (AMT) a first for Mahindra and also a first for an SUV in India In the September 2015-March2017 period the TUV300 sold a total of 50438 units according to an analysis done by our sister publication Autocar Professional
Meanwhile the KUV100 launched in January 2016 in a highly competitive segment has sold a total of 50288 units as per astatement from MampM In the December 2015 to March 2017 period the KUV100 sold a total of 49908 units comprising 23862diesel variants and 26046 petrol variants The 50000-unit sales mark was crossed in early April 2017
Commenting on the sales milestone Rajan Wadhera president Automotive Sector Mahindra amp Mahindra said ampldquoTheKUV100 has created an all-new SUV segment in the price range of Rs 45 to 7 lakh It combines the appeal of an SUV and thepracticality of a compact car making it a compelling value proposition for buyers The recent introduction of the new-look dual-toneKUV100 has also resonated well with our customers and going forward I am sure that the KUV100 will continue to scale newheightsamprdquo
The TUV300 is Mahindra amp Mahindraamprsquos first ground-up attempt at the sub-four-metre SUV segment and the KUV100 is thecompanyamprsquos first petrol-engined modelhttpwwwautocarindiacomauto-newsmahindra-tuv300-kuv100-sales-cross-50000-units-404777aspx
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2017 Indian Chieftain Dark Horse review test ride Autocar India
Thereamprsquos a certain charm that baggers exude that really tugs at your heartstrings the same heartstrings that are so readilyseduced by the call of the open highway This is a genre of motorcycle that instantly makes you want to throw on a leather jacketand hit the open road Wishful daydreams aside Indian has added yet another model to its bagger series the Chieftain Dark Horsewhich makes wanderlust so real Having ridden the other Indians before we can safely saythe experience is a rather meditativeone and we expect this one to be no different
Spotting the Chieftain Dark Horse in the distance may make you question why thereamprsquos a land boat approaching you It sitsalmost 85 feet long and weighs a behemoth 377kg Starting at the front you get this sleek flowing and solid-looking frontmudguard with the signature illuminated Native American Indian chiefamprsquos head Atop the front wheel sits a positively bulbousfairing that ensures your upper body is completely free of any stray windblast To ensure even further wind protection there is aheight-adjustable electronically controlled windscreen
The simple elegant tank gets a central strip that has a large start-stop power button It gets a supremely comfortable single seatwith the backrest and pillion seat available as add-ons The solid rear fender is exquisitely chiselled it flows towards the floor into aswooping tip that gives the whole motorcycle a sort of regality
The seating geometry is authoritative and relaxed at the same time You have what appears to be a dashboard in front of youAlthough this Chieftain Dark Horse version misses out on the 70-inch TFT screen found on the 2017 Chieftain and Roadmasteryou get a fair amount of goodies to keep you well engaged such as the two 100W fairing speakers and a Bluetooth andsmartphone-compatible music system that also picks up FMAM radio stations You also get cruise control for those endlesshighway runs
The 1811cc air-cooled Thunder Stroke 111 V-Twin motor is an absolute gem Even though this isnamprsquot a new engine by anymeans it simply steals the show with its refinement It makes 1389Nm of torque that is spread over the rev range like smoothwaves breaking on the seashore Itamprsquos nearly vibration-free and thereamprsquos ample thrust available in each gear The bikeaccelerates smoothly off the line and with the amount of torque on tap you can pull away easily from speed bumps in as high asthird gear The engine is relaxed and ambles about effortlessly with a lovely muffled rumble from its twin exhausts
As I mentioned earlier riding the Chieftain Dark Horse is simply a meditative experience This stems from a well-balanced chassissteering geometry and suspension setup Speaking of steering geometry the Chieftain Dark Horse (just like the Roadmaster) hasits forks raked in further to 25 degrees to allow the front end to feel nimble even when it has all the weight of that massive frontfairing over it The bike turns in very easily precisely and with a lot of confidence
Even the ride quality is great The 46mm front forks and air-adjustable monoshock at the back handle big bumps rather well and theride is very pliant for the most part The 142mm ground clearance means you donamprsquot have to worry too much about thoselong chromed-out silencer tubes scraping over large speed bumps And for bringing that 377kg mass to a halt the ABS-equippedtwin 300mm front discs and a single 300mm rear disc provide more than sufficient stopping power
Although this is a cheap bike by no means Indian has ensured that its high levels of refinement and riding pleasure shine through
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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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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Powered by Enablingbiz Esoluttions
on the Chieftain Dark Horse Moreover the Thunder Black Smoke paint scheme lends the bike a regal yet mildly sinister characterAnd thereamprsquos a mindboggling amount of customisation options available for it So if youamprsquore in the market for a high-endlong-distance cruiser you should definitely consider this as your next motorcyclehttpwwwautocarindiacomauto-reviews2017-indian-chieftain-dark-horse-review-test-ride-4047790aspx
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International News
General Motors fires 2700 in Venezuela after plant closure ReutersSee this story in The Economic Times
Caracas General Motors Venezuelan subsidiary has sent a message to almost 2700 staff informing them that they are no longeremployed by the company and had received severance pay in their bank accounts according to two employees
A Venezuelan court last week ordered the seizure of the companys Valencia plant ruling in favor of two dealers that had filed acase in 2000 against the subsidiary on grounds they had not complied with an agreed sale of 10000 vehicles
Workers say that before the seizure was announced General Motors had been dismantling the plant which has not produced a carsince the beginning of 2016 because of shortages of parts and strict currency controls in the OPEC nation
The seizure which General Motors called illegal comes amid a deepening economic and social crisis in leftist-led Venezuela thathas already roiled many US companies
We all received a payment and a text message said a worker who had worked for the company for more than a decade addingthat his corporate email account had been deactivated over the weekend
Our former bosses told us the executives left and we were all fired There is no longer anyone in the country added anotheremployee who received the same message on his personal cell phone and a payment to his account He had been at GeneralMotors for five years
The company did not immediately respond to a request for comment about the layoffs or the worker allegations it had already beendismantling the plant
General Motors said last week that it was halting operations and laying off workers due to the illegal judicial seizure of its assets
SHOW YOUR FACEThe leftist government of Nicolas Maduro says it is not seeking to expropriate the plant which has been operating for 35 years andhas called on General Motors to come back
To the current General Motors president of Venezuela Jose Cavaileri You come here show your face and share with us theoptions to restore normality said Labor Minister Francisco Torrealba said Monday
General Motors is not the first company to fire Venezuela employees by text message Clorox did the same two years ago whenannouncing its exit from the crisis-struck country after which workers took over the plant
General Motors plant closure comes after Venezuelas automobile production fell in 2016 to a record low of eight cars per dayaccording to a local automotive group
Two union spokespeople said they had no official company information on the layoffs but said that most workers received themessages along with a bank deposit
Neither employee would reveal the amount they received but union leaders said it was too lowhttpautoeconomictimesindiatimescomnewsindustrygeneral-motors-fires-2700-in-venezuela-after-plant-closure58353720
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US auto retail chain AutoNation Q1 net profit beats expectations remain positive for Q2 ReutersSee this story in The Economic Times
Detroit AutoNation the largest US auto retail chain on Tuesday reported a larger quarterly net profit that beat expectations andsaid it expect vehicle sales to rise in the second quarter with a higher gross profit per vehicle sold
During the first quarter new-car sales at the Fort Lauderdale Florida-based company dropped more than 4 percent to 75798 unitswhile used-car sales rose more than 4 percent to 60608 units
We expect to see a sequential increase in the second quarter in both used unit volumes and gross profit per vehicle retailedAutoNation Chief Executive Officer Mike Jackson said in a statement
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
Revenue per vehicle for new cars rose 4 percent to $36890 but slid 1 percent to $19075 for used vehicles
AutoNation reported a first-quarter net profit of $981 million or 97 cents per share up 23 percent from $959 million or 89 cents ayear earlier Analysts on average expected EPS of 91 cents
Revenue totaled $514 billion up from $512 billion Analysts expected $532 billion
AutoNation reported a lower gross profit for vehicle sales in the quarter but an increase for its parts and service operationshttpautoeconomictimesindiatimescomnewsaftermarketus-auto-retail-chain-autonation-q1-net-profit-beats-expectations-remain-positive-for-q258363158
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Germany against EUs plans to overhaul vehicle emissions testing scheme ReutersSee this story in The Economic Times
Frankfurt Germany is against European Commission plans to overhaul a vehicle emissions testing scheme Sueddeutsche Zeitungsaid citing European Council documents submitted by Germany
The newspaper reported Germany has rejected an EU Commission proposal to change the way the vehicle testing authorities arefunded and managed citing consultation documents sent by Germany to Brussels
Proposals to move away from a regime based on tests funded by car companies in favour of a new system funded with fees andstate-backing are also being opposed the paper said
Germany is also stalling on a proposal to ban polluting cars altogether Sueddeutsche Zeitung said
Volkswagen the worlds biggest carmaker by vehicle sales was found in September 2015 to have cheated on emissions testsprompting regulators worldwide to review the way carmakers and emissions are policedhttpautoeconomictimesindiatimescomnewspolicygermany-against-eus-plans-to-overhaul-vehicle-emissions-testing-scheme58362253
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Hyundai mobile app exposed cars to high-tech thieves -researchers ReutersSee this story in The Economic Times
Toronto Software vulerabilities in a Hyundai Corp app that lets a car be started remotely made the companys vehicles susceptibleto theft from high-tech thieves for three months before the company fixed the bug in March a cyber security firm said on Tuesday
Hyundai introduced a flaw in a Dec 8 update to the mobile app for its Blue Link connected car software that made it possible for carthieves to locate vulnerable vehicles unlock and start them said Tod Beardsley research director with cyber security firm Rapid7Inc
Hyundai confirmed the bugs existence and said it moved quickly to fix the problem
Both the company and Beardsley said they knew of no cases of car thieves exploiting the vulnerability before Hyundai pushed out afix to Android and iPhone users in early March
The issue did not have a direct impact on vehicle safety said Jim Trainor a spokesman for Hyundai Motor America Hyundai isnot aware of any customers being impacted by this potential vulnerability
The bug surfaced as the auto industry bolsters efforts to secure vehicles from cyber attacks following a high-profile recall of FiatChrysler vehicles in 2015 and government warnings about the potential for car hacks Risks have multiplied in recent years as carshave grown more complex adding features like mobile apps that can locate unlock and start them
Whats changed is not just the presence of all that hackable software but the volume and variety of remote attack surfaces addedto more recent vehicles said Josh Corman director of the Atlantic Councils Cyber Statecraft Initiative
Fiat Chrysler recalled 14 million US vehicles after two security researchers demonstrated that they could gain remote control of aJeep traveling at high speeds
The Blue Link bug is not as frightening as the ones uncovered in the Fiat Chrysler vehicles Moving vehicles are not vulnerable toattacks using the Blue Link app and a hacker would have to be near the target vehicle of an owner using the mobile app via aninsecure WiFi connection Beardsley said
General Motors Cos patched a similar bug in its OnStar vehicle communication system in 2015 that had the potential to let hackersbreak into carshttpautoeconomictimesindiatimescomnewsindustryhyundai-mobile-app-exposed-cars-to-high-tech-thieves-researchers58365649
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Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
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French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
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Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
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Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
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Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
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Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC News Update - AUTOMOBILES
News on Indian Auto Industry Copyright 1999 NURC MediaNext Pvt Ltd
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Powered by Enablingbiz Esoluttions
Continental steps up investments in electric car drives ReutersSee this story in The Economic Times
Frankfurt Automotive components supplier Continental plans to invest an additional 300 million euros ($326 million) in electricdrives by 2021 in anticipation of a shift to electric cars over the next decade the company said on Tuesday
One of the worlds biggest suppliers to vehicle manufacturers Continental is strengthening its electronics expertise as its customersincluding Volkswagen and Ford raise their investment in electric and ultimately self-driving vehicles
Cars of the future will feature electric drives which will be fully connected and automated Continental Chief Executive ElmarDegenhart said in a statement
Until at least 2025 though internal combustion engines will still account for most of the market Continental predicts meaning italso sees opportunities for growth in fuel-efficient technologies
The group said it expected its Powertrain business which accounts for close to a fifth of group revenues to increase its annualsales to around 8 billion euros this year and 10 billion euros in 2019
Continental had said in January it was reviewing its Powertrain division after earnings at the business which makes failed to meetexpectations ($1 = 09205 euros)httpautoeconomictimesindiatimescomnewspassenger-vehiclecarscontinental-steps-up-investments-in-electric-car-drives58361441
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Drive an Audi R8 or a Lamborghini Aventador with MyChoize self drive cars The Economic Times
New Delhi To celebrate one year of its self-drive car rental operations in India MyChoize Self Drive Cars is going to offer supercarsto its customers via a live online auction portal made live on the companys website
The first supercar stated to go on bid is the Audi R8 The starting bid for the auction has been pegged at Rs 100 with everyincreasing bid raising the highest bid by Rs 50
The company also informed that acirceurolsaquo MyChoize Self Drive Cars plans to add another 1000 cars over the next 18 months while alsoexpanding the base of operations to an additional 10 cities It will invest $20 million (around Rs 130 crore) to expand operations inIndia in the next two years
In an official statement Sandeep Gambhir MD and CEO of ORIX India (owner of MyChoize Self Drive Cars) said ampldquoWe arehappy and absolutely thrilled to present our users with this once in a lifetime opportunity to be behind the wheels of a supercar andexperience its thrill MyChoize is all about counting memories and creating unique user experiences and selfdrive supercars showsthe extent to which we at ORIX go to give our users the elegance they deserve with the experience they desireamprdquo
The MyChoize Auctions would be available on the MyChoize website starting Saturday April 29 5 PM wherein registered users cansee the supercar auction schedule for the upcoming week After the start of a particular auction as per the schedule users can loginand bid for a chance to drive the supercar of their choize
The auction will continue for 2 hours at the end of which the highest bidder will get to selfdrive a supercar for 30 minutes on aninternational racetrack at the Budh International Circuit Noida
Pankaj Jain Executive Vice President at ORIX and Head of MyChoize and ORIX Rent a Car Business declared that ampldquoAll theproceeds from MyChoize Auctions will be donated to various charities to help provide easy and cheap transportation to school goingchildren in Indiaamprsquos villagesamprdquohttpautoeconomictimesindiatimescomnewsaftermarketdrive-an-audi-r8-or-a-lamborghini-aventador-with-mychoize-self-drive-cars58361757
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Tesla to double its charging network in 2017 The Economic Times
New Delhi American electric vehicle manufacturer Tesla is going to double its charging network in 2017 thereby expanding existingsites so drivers never wait to charge and broadening its charging locations within city centers
The company which is currently preparing itself for its first mass-market vehicle and for increasing Model S and Model X fleetinformed in a statement that it is its mission that charging is convenient abundant and reliable for all owners current and future
Tesla says that it started 2017 with over 5000 Superchargers globally and by the end of this year it will double that number to totalmore than 10000 Superchargers and 15000 Destination Charging connectors around the world
In North America it wll increase the number of Superchargers by 150 percent and in California alone Tesla will add more than1000 Superchargers
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
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Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
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Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
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Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
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China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
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Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
Top
French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
Top
Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
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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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Powered by Enablingbiz Esoluttions
In parallel the company will built a network of more than 9000 Destination Charging connectors that replicate the convenience ofhome charging by providing hotels resorts and restaurants with Tesla Wall Connectors
It further added that many sites will soon enter construction to open in advance of the summer travel season
Tesla which first started the Supercharger network in 2012 has built over 5400 Superchargers claims the automakerhttpautoeconomictimesindiatimescomnewsindustrytesla-to-double-its-charging-network-in-201758354452
Top
Truck maker Volvo Q1 profit beats forecast ReutersSee this story in The Economic Times
Stockholm Swedish commercial vehicle manufacturer Volvo posted a much bigger than expected rise in first-quarter core earningson Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook fortruck markets on both sides of the North Atlantic
Adjusted operating profit at Volvo rose to 703 billion Swedish crowns ($793 million) from a year-ago 446 billion beating the meanforecast of 532 billion in a poll of analystshttpautoeconomictimesindiatimescomnewscommercial-vehiclemhcvtruck-maker-volvo-q1-profit-beats-forecast58356593
Top
Carlos Ghosn rules out Mitsubishis merger with Nissan The Economic Times
New Delhi Merger between two Japanese auto makers Mitsubishi Motors Corp (MMC) and Nissan Motor is not being consideredsaid Carlos Ghosn chairman of both the companies
Full merger is not on the table We want Mitsubishi to reform itself said Ghosn who was attending the opening ceremony of anew Mitsubishi factory on the outskirts of Jakarta
He also said it was likely for Mitsubishi and Nissan to cross-manufacture in areas where it makes sense
In 2016 Nissan bought a controlling stake in Mitsubishi for $23 billion after the smaller automaker admitted to cheating on mileagetests
Mitsubishi and Nissan were studying the possibility of joint production of pickup trucks in Southeast Asia as they looked for savingswithin the broader Renault-Nissan alliance Mitsubishis chief operating officer told Reuters in March
Carlos Ghosn is also chairman of Renault
A Reuters report also mentions that Mitsubishi Chief Executive Officer Osamu Masuko said he estimated Mitsubishi would have a10 percent share of Indonesias car market in three years from 6 percent at present
Mitsubishi expects 40 percent sales increase in Indonesia dominated by sales of multi-purpose vehicles
Indonesia overtook Thailand as Southeast Asias largest car market in recent years and is also growing as a regional productionbase
Nearly 11 million vehicles were sold in the country of 250 million people last year according to the Association of IndonesiaAutomotive Industries (Gaikindo)
Japans Toyota Motor Corp has long dominated the Indonesian market partly due to its extensive distribution network Toyota has along-standing partnership with the countrys largest distributor PT Astra International Tbk httpautoeconomictimesindiatimescomnewsindustrycarlos-ghosn-rules-out-mitsubishis-merger-with-nissan58358920
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Mitsubishi Motors inaugurates new manufacturing plant in Indonesia The Economic Times
Tokyo Mitsubishi Motors Corporation (MMC) on Tuesday inaugurated a new manufacturing plant in Indonesia following a 65 billionyen ($565 million) investment in the facility that will employ 3000 workers and produce 160000 units a year at full capacity said theautomaker in a statement
The plant located in the new GIIC Industrial Estate in Bekasi Prefecture was completed following a two-year construction project
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
Top
Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
Top
China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
Top
Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
Top
French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
Top
Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
backed by Mitsubishi Motors Krama Yudha Indonesia MMCs manufacturing joint venture with Mitsubishi Corporation (MC) and itsIndonesian partner PT Krama Yudha (KY)
The manufacturing plant will begin producing MMCs sports utility vehicle the Pajero Sport which will be followed by an all-newseven-seater multi-purpose vehicle (MPV) and the COLT L300 light commercial vehicle
The company further added The opening of the Bekasi plant forms part of MMCs expansion strategy in the ASEAN region whereit also assembles vehicles in Thailand and the Philippines The companys growth plan is supported by Nissan which acquired a34 stake in the automotive group in 2016 when MMC became a member of the global Renault-Nissan Alliance
Carlos Ghosn chairman of MMC and the Renault-Nissan Alliance said This plant represents a vote of confidence in Indonesia inthe ASEAN region and in the growth prospects of Mitsubishi Motors We are proud to be creating jobs and investment in one of theregions largest and most important economies which will be a strong manufacturing and export base for our expanding Alliance
Osamu Masuko chief executive of Mitsubishi Motors added The Bekasi assembly facility symbolizes our ambition to be a marketleader in Indonesia where we will produce our best-selling Pajero Sport and a new MPV to meet growing demand for high-qualityrugged and reliable passenger vehicles This will enable us to build share in a market where we have been present for more than 45years
Demand in Indonesia which has the fourth largest population in the world with more than 260 million people is expected to growfaster than the overall economy Motor vehicle ownership in Indonesia at 78 per 1000 people lags China and is less than half thatin regional neighbor Thailand claims the automakerhttpautoeconomictimesindiatimescomnewsindustrymitsubishi-motors-inaugurates-new-manufacturing-plant-in-indonesia58360821
Top
Waymo testing self-driving car ride service in Arizona ReutersSee this story in The Economic Times
San Francisco Alphabets Waymo autonomous vehicle group will begin testing a self-driving car program for hundreds of families inPhoenix Arizona and is buying 500 Chrysler minivans to do so the companies said on Tuesday
Waymo which along with Google is owned by Alphabet recently has been quietly testing the service for a handful of familieslearning what potential customers would want from a ride service the company said in a blog post
It urged people to apply to take part in an expanded test which is the first public trial of Waymos self-driving cars The vehiclesinclude human operators from Waymo behind the wheel in case intervention is required and to take feedback
Silicon Valley is racing to master self-driving technology betting that it will transform the auto industry and be a gold mine forleading companies Waymo has one of the best technology track records and it has an alliance with Fiat Chrysler Automobiles
Many companies expect that customers will use autonomous vehicles as a service rather than owning them outright Ride serviceUber in particular expects to use autonomous cars
The new Waymo test in Arizona is meant to help the company understand what people want out of self-driving cars and see howthey use and integrate the service Testers will get access every day at any time
Waymo already has with 100 Chrysler Pacifica minivans and is acquiring five times more partly to be able to support the servicehttpautoeconomictimesindiatimescomnewspassenger-vehiclecarswaymo-testing-self-driving-car-ride-service-in-arizona58361134Waymo tests self-driving car ride service in ArizonaThe Times of Indiahttptimesofindiaindiatimescomautomiscellaneouswaymo-tests-self-driving-car-ride-service-in-arizonaarticleshow58358589cms
Top
China targets production of 2 mn new energy vehicles by 2020 ReutersSee this story in The Economic Times
Beijing China wants annual production and sales of new energy vehicles to reach 2 million by 2020 the industry ministry said onTuesday
China aims for new energy vehicles to account for more than 20 percent of vehicle production and sales by 2025 the Ministry ofIndustry and Information Technology said in a statement posted on its websitehttpautoeconomictimesindiatimescomnewsindustrychina-targets-production-of-2-mn-new-energy-vehicles-by-202058353782
Top
Automotive supplier breaks ground on rare new Detroit factory Reuters
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
Top
French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
Top
Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
See this story in The Economic Times
Detroit US auto parts maker Flex-N-Gate will build a plant in Detroit in what local officials described on Monday as the first newinvestment by an automotive supplier in decades for Motor City the cradle and former beating heart of the car industry
This is the largest automotive supplier investment in Detroit in more than 20 years Mayor Mike Duggan said at a groundbreakingceremony under a light blue spring sky on Detroits northeast side Were starting to compete and win again
Urbana Illinois-based Flex-N-Gate will invest $95 million in the plant which will employ 400-700 people and supply parts to FordMotor It is scheduled to open in the first quarter of 2018
Flex-N-Gate owner Shahid Khan said Ford was the great impetus behind locating the plant in Detroit and said it aims to employlocals Workers would earn up to $27 per hour including benefits and the plant will use state-of-the-art automated technology inorder to pay people a living wage he said
The supplier makes plastic exterior parts especially front ends and headlights
A Ford spokeswoman said the company would not provide specific production details at this time on which models the plantsparts would be used
Pakistan-born Khan who also owns the National Football Leagues Jacksonville Jaguars came to the United States decades ago tostudy mechanical engineering at the University of Illinois
Auto plants once proliferated across Detroit and many today are empty red-brick hulks Only General Motors and Fiat ChryslerAutomobiles still have operational plants in the city
Over decades of decline Detroits population fell to 700000 from a peak of 18 million people in 1950 reflected in the many vacantand decaying homes in the area around the future Flex-N-Gate plant
Since going through bankruptcy earlier this decade Detroit has experienced a slight renaissance with businesses and artistsmoving in
The plight of American manufacturing as well as immigration were the focus of Republican President Donald Trumps electioncampaign Trump has criticized automakers for building cars in Mexico and talked up announcements of US investments by FordGeneral Motors and Fiat Chrysler Automobiles including some that had been announced before he took office
Khan said the decision to invest in Detroit predated Trumps presidency But he said that in the US automotive industry today youhave to have a social conscience You can do that and still make investments like thishttpautoeconomictimesindiatimescomnewsauto-componentsautomotive-supplier-breaks-ground-on-rare-new-detroit-factory58353827
Top
French prosecutors open Peugeot diesel-cheating probe ReutersSee this story in The Economic Times
Paris French prosecutors have opened a formal investigation into suspected diesel emissions test-cheating by carmaker PSAGroup a court official said on Monday
The probe was opened earlier this month into alleged consumer fraud offences the official said confirming a report in dailynewspaper Liberation
Paris-based PSA in February became the fourth carmaker to be referred to prosecutors by Frances DGCCRF consumer fraudwatchdog over suspected diesel test manipulation in the wake of the Volkswagen dieselgate scandal
Its referral following that of Volkswagen Renault and Fiat Chrysler dealt a setback to the maker of Peugeot Citroen and DS carswhose emissions performance had so far escaped major criticism
PSA which denies any wrongdoing said on Monday it had taken note of the prosecutors decision to open a full investigationreiterating that its vehicles comply with all regulations in countries where they are sold
Following Volkswagens exposure in 2015 for US diesel test-cheating several European countries launched their own investigativetest programmes
They found on-road nitrogen oxide (NOx) emissions more than 10 times above regulatory limits - for some General Motors Renaultand Fiat models - and widespread use of devices that reduce exhaust treatment in some conditions
Carmakers have broadly invoked a European legal loophole allowing such software for safety purposes or engine protection
PSA diesels under the current Euro 6 standard have cleaner emissions than many mass-market rivals thanks to their standarddeployment of costly selective catalytic reduction (SCR)
But in a government-backed testing programme last year five PSA vehicles of the last Euro 5 diesel generation emitted significantlyhigher NOx in motorway driving conditions when engine temperatures were increased
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
Top
Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
By design the cars so-called EGR emissions treatment is deliberately reduced at higher temperatures to improve fuel efficiencyand carbon dioxide (CO2) emissions in out-of-town driving where NOx and particle output is less critical PSA engineering chiefGilles Le Borgne said in February
The company last year began an independently certified real-world CO2 emissions-testing programme and began publishing resultsmeasured for all its vehicles on the roadhttpautoeconomictimesindiatimescomnewsindustryfrench-prosecutors-open-peugeot-diesel-cheating-probe58353899
Top
Automakers ask California to ease rules for self-driving car tests David ShepardsonReutersSee this story in The Times of India
Washington Automakers on Tuesday urged the state of California to further ease its proposed regulations for autonomous vehiclessaying the state did not respond to their earlier objections by making enough revisions to its planned set of rules for self-drivingcars
At a public hearing in Sacramento monitored via webcast automakers urged California to drop some additional proposedregulations and leave much of the oversight to the US National Highway Traffic Safety Administration But safety and consumeradvocates urged the state to adopt strict oversight and an official from San Francisco said cities should have more local control
A number of automakers have said they plan to begin deploying self-driving vehicles some in commercial fleets by 2020-2021
Paul Scullion a manager at the Association of Global Automakers said Californias proposed regulations go too far
The group opposes Californias plan to require a permit to deploy autonomous vehicles which must meet performance and designcriteria We do not think requiring a permit to deploy is the right approach Scullion said Global Automakers said it opposesCalifornias proposal that it could withdraw permits to deploy vehicles even if they met federal requirements
Ron Medford director of safety at Alphabet Incs self-driving unit Waymo urged California to quickly issue final rules to providemanufacturers with the certainty that they need
Brian Soublet deputy director of the California Department of Motor Vehicles said the agency will review written comments beforeunveiling final rules
Andre Welch a Ford Motor Co official asked the state to lift the proposed prohibition on testing self-driving vehicles weighing morethan 10000 pounds such as multi-passenger shuttles
Existing California regulations require self-driving test vehicles to have conventional manual controls such as steering wheels andpedals as well as a backup driver
California moved to change the rules as many states said they would allow testing of vehicles without conventional controls
In March Californias Department of Motor Vehicles revised proposed rules to allow testing by the end of the year of autonomousvehicles without human backup drivers
After objections from automakers the proposal was revised to drop requirements that local communities approve testing and thatcompanies generate a year of testing data before being allowed to deploy vehicles on public roads
Among those who called for strict oversight of self-driving cars were Consumers for Auto Reliability and Safety We do not trust theauto manufacturers or the tech industry to protect the public in the absence of federal motors vehicle safety standards said thegroups president Rosemary Shahan
The group Consumer Watchdog called for stricter state rules noting that there were not yet any federal standards for self-drivingcars In written comments the group said relying on federal standards would amount to a meaningless house of cards
In February US Transportation Secretary Elaine Chao said she was reviewing self-driving vehicle guidance issued by the Obamaadministration Those guidelines call on automakers to voluntarily submit details of self-driving vehicle systems to regulators in a15-point safety assessment
California has proposed requiring companies submit a copy of a voluntary assessment submitted to NHTSA David Strickland alawyer representing a group of self-driving advocates including Google Ford and Uber opposed Californias proposal saying iteffectively makes the assessment mandatory
Tom Maguire an official at San Francisco Municipal Transportation Agency said in some cases the proposed rules rely too heavilyon manufacturers self certification of their safety technology The agency believes cities should have the authority to denydeployment and determine when and how testing occurs
General Motors Co official Paul Hemmersbaugh said California should drop plans to include separate privacy rules for driverlesscars The company said Californias proposed liability rules could make automakers liable regardless of fault for any crash He saidthat would be unduly punitive and could have a chilling effect on testing and deployment of self-driving carshttptimesofindiaindiatimescombusinessinternational-businessautomakers-ask-california-to-ease-rules-for-self-driving-car-testsarticleshow58370538cms
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
Top
Ok Google tell my Mercedes to start Deccan Chronicle
Do you have a new Mercedes Does your home have a Google Home or Amazonamprsquos Alexa Do you have a ampldquoMercedesMeamprdquo account activated on your vehicle Have you subscribed to the $280 a year ampldquoMbraceamprdquo subscription
If the answer to all of those questions is a ampldquoYesamprdquo then you are in for a treat from the future Your Mercedes can nowtalk to virtual assistants and can mutually control each other when required In simple words you can tell your Google Home to startyour Mercedes and keep it warm before you head out of your home
By integrating the car and the home automation system Mercedes has brought the future featuring a connected ecosystem to thepresent It now makes sense to have a powerful computer sitting on your caramprsquos dashboard that can not only control variousparameters of your car but also control most of your homeamprsquos smart systems like lighting and cooling controls
You can get directions from your Assistant sent on your car you can switch off your appliances while you drive away from yourhouse and can remotely lock the car with the help of the AI assistant All you have to do is use the commands for the respectiveAssistants ie Ok Google tell my Mercedes me to start or Hey Alexa tell my Mercedes me to start
The feature will be available on Mercedes vehicles manufactured after 2016 The feature is currently limited to the US and will berolled out to the European market soonhttpwwwdeccanchroniclecomtechnologyin-other-news240417ok-google-tell-my-mercedes-to-starthtml
Top
Economy
Rupee hits 3-week high of 6420 on dollar selling PTISee this story in The Hindu Business Line
Mumbai The rupee rose 22 paise to hit a 3-week high of 6420 against the dollar in the evening trade on persistent selling of thegreenback by banks and exporters on the back of lower dollar overseas
According to a forex dealer strong equity market also boosted the rupee value
The rupee resumed higher at 6441 against the dollar against yesterdayamprsquos closing level of 6444 per dollar at the InterbankForeign Exchange (Forex) market and firmed up further to a 3-week high of 6420 before quoting at 6428 per dollar at 425 pmlocal time showing a gain of 19 paise
The domestic currency hovered in a range of 6425 per and 6441 per dollar during evening trade
The euro steadied on Tuesday pausing after a rally sparked by the first-round results of the French presidential election while theCanadian dollar fell after the US slapped duties on Canadian softwood lumber
The euro last traded at $10866 off Mondays peak of around $10940 its highest level since November 10 after centrist EmmanuelMacron won the first round of the French presidential elections
Meanwhile the benchmark BSE index ended 28740 points or 097 per cent higher at 2994324 its highest close since April 5httpwwwthehindubusinesslinecommarketsforexrupee-dollar-live-updatearticle9661498ece
Top
Nifty hits lifetime high of 9307 Sensex within kissing distance of 30K Swati VermaThe Economic Times
New Delhi Continuing its terrific run headline index Nifty50 crossed the 9300 level for the first time ever on Tuesday with BSESensex surging by 287 points
Strong quarterly numbers mainly from index heavyweight Reliance Industries the victory of Centrist Emmanuel Macron in the firstround of French Presidential elections and strong inflows by foreign investors propelled the market to hit its zenith till date
The SampP BSE Sensex rallied 287 points to settle at 2994324 just a few points away from its psychologically crucial 30000 levelThe 30-share index which opened at 2982514 against the previous close of 2965584 hit an intraday high and low of 2996182and 2978084 respectively FMCG major ITC Axis Bank and HDFC emerged as the major contributors to the gain in the index
Auto major Mahindra amp Mahindra topped the index while TCS ended as the worst laggard
The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
Top
Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC MediaNext Pvt Ltd
DirectorSapna KulshresthaMobile 9810975257
Production-in-ChargeS K MandalPhone 011-22626650
Editing-in-ChargeGulab Singh YadavMobile 9999132357
Marketing-in-ChargeRashmi ThakurMobile 9958949710
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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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
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The broader Nifty50 of National Stock Exchange hit a milestone by jumping 89 points to settle at 930660 with 38 constituentsending in the green
Nifty Bank too created history as it breached the 22000-mark for the first time ever settling at 2205470 up 197 points
ampldquoBuoyant global markets post-French elections strong domestic liquidity and a good start to 4QFY17 results reason hasensured positive market sentiments said Gautam Duggad Head of Research Motilal Oswal Securities
Going forward sustenance of positive results momentum and more importantly management commentary about FY18 earningsrecovery prospects will be a key thing to monitor as valuations do not offer much comfort from hereon Duggad added
Among individual stocks Mukesh Ambani-owned Reliance Industries surged to a nine-year high after posting yet another stellarquarter
The oil-to-telecom conglomerate reported 1154 per cent year-on-year (YoY) jump in consolidated net profit to Rs 8053 crore forthe march quarter
It had reported a net profit of Rs 7220 crore in the March quarter last year
Pharma stock Biocon surged over 9 per cent to close at Rs 116560 apiece
In the sectoral landscape telecom sector advanced the most thanks to a rise in the shares of Bharti Infratel Bharti Airtel andHFCL The SampP BSE Telecom index gained 262 per cent to end at 128987
Globally European stock markets were firm on Tuesday The pan-European STOXX 600 index was up 01 per cent on track for itsfifth session of straight gains
Frances CAC 40 which rallied more than 4 per cent on Monday was up 01 per cent
In Asia China stocks steadied on Tuesday following a sharp sell-off the previous session The blue-chip CSI300 index rose 03percent to 344097 points while the Shanghai Composite Index gained 02 percent to 313457 pointshttpeconomictimesindiatimescommarketsstocksnewsnifty-hits-lifetime-high-of-9307-sensex-within-kissing-distance-of-30karticleshow58361080cms
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Closing
Last Financial Closing
Sensex 2994324 (+28740)NSE 930660 (+8865)US$ spot Rs6428US$ Y1112000US$ 6 months RsYen Rs58Euro spot Rs6996
Gold (10gm) Rs28972Silver (1kg) Rs4041600
Crude Oil (WTI) Crude Oil (Brent) $5166 (+006)
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Apollo Tyres 1 24275Asahi Ind 1 21815Amara Raja B 1 87815Ashok Leyland 1 8815Bajaj Auto 10 289680Bharat Forge 2 113505Denso 1 Eicher Motor 10 2608965Escorts 10 55175Exide Ind 1 23585Force Motors 10 46629
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
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NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
Gabriel India 1 12615Hero Motocor 2 330520Hind Motors 5 995Hi-Tech Gear 10 34975Jay Bh Maruti 5 62280
Jamna Auto 5 24220JK Tyres amp Inds 10 15885 Kinetic Motors 10 Kinetic Engg 10 KOEL 2 39505Kirloskar Br 2 28720LML Ltd 10 1260LampT 2 174610Lumax Ind 10 148655Lumax Tech 10 52505MampM 5 130745Maruti Suzuki 5 633720Motherson SS 1 38320Minda Inds 2 47955MRF 10 6656625Omax Auto 10 8380Rico Auto 1 6115Sona Koyo St 1 8260
SRF 10 173290Tata Motors 2 44565 TVS Motors 1 48935
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Bhushan Steel 2 7495Hindalco 1 19170Hind Zinc 2 27265JSW Ispat S 10 Jind Steel 1 11320JSW Steel 1 19450Jindal Saw 2 8285National Aluminium 5 6715SAIL 10 6050Tata Steel 10 45465Visa Steel 10 2165
Scip on BSE Face Value (Rs) Last Traded Value (Rs)Ambuja Cement 2 24640Binani Industries 10 8945Birla Corp 10 77080India Cement 10 20250Prism Cement 10 11410JK Cement 10 97780Shree Cement 10 1905855
Top
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions
NURC MediaNext Pvt Ltd
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
This update purports to be a compilation of the top stories for the day in the leading Indian and International dailies websites and other information sources and NURCMediaNext Pvt Ltd cannot and does not vouch for their authenticity NURC MediaNext Pvt Ltd cannot be held responsible for any loss(es) arising out of or incidental to theuse of this News Update Reproduction or redistribution without express permission of NURC MediaNext Pvt Ltd is strictly prohibited and is a violation of the subscriptionagreement Such instances will result in immediate cancellation of subscription to the Service without any refund for the remaining period at the sole discretion of NURCMediaNext Pvt Ltd
This email is a solicited newsletter We sent you this email because youyour employer organisation signed up for our daily industry updates If you do not wishto receive these email updates in future please contact us at vimalpnurcmedianextcom to unsubscribe
Powered by Enablingbiz Esoluttions