New Delhi, The $75-billion Hyundai Motors, the world's fifth largest auto maker, has decided to make India its global hub for small cars, the company's chief executive for the Indian market has said.
'We have a very clear picture about the Indian market. We want to use India as our small car hub. India will be used for manufacturing and export of our small cars,' Heung Soo Lheem, managing director of Hyundai Motors India Ltd said.
'Our upcoming i20 model, which will debut in the Paris Motor Show in September, will be solely manufactured in India,' Heung, whose company is India's second largest car maker after Maruti Suzuki, told IANS in an interview.
The automaker, which sells its cars in as many as 193 countries, had launched the i10 - its new offering in the 'A' segment - last November. This car, too, is exclusively manufactured in India, he said.
The Hyundai executive said i20 is a hatchback sedan offering in the 'B' segment. 'This car will hit the Indian market in November,' he said, while rubbishing reports that the company will phase out the Santro and Getz, post i20 launch.
Santro, which is sold as Atos in Hyundai's other markets, was used as the launch pad for the South Korean giant's foray into the Indian automobile market over ten years ago.
'When i10 was launched, it was tagged as a successor to Santro. We will continue to have the cars in our 'A' segment. Similarly, i20 is not a successor to Getz. We will strengthen our line-up giving more options to our customers.'
Heung did not disclose the price at which the new car from the Hyundai stable will be sold in India, but indicated that it will compete with Skoda's Fabia and Ford Fusion.
'We haven't yet decided the pricing. It'll be a little more than the Getz,' he said about the car which sells at between Rs.400,000 and Rs.600,000 in the Indian market.
The South Korean automobile giant sold 327,160 vehicles in India in 2007 and had doubled its assembly line at the Chennai plant to 600,000 units annually this January.
'We have set a target of 530,000 vehicles for the domestic as well as export market for this year,' Heung said. 'But rising fuel prices and inflationary pressures are taking a toll on sales,' he added.
'June, especially, was a tough month for us. Issues like inflation, economic slowdown and skyrocketing oil prices led to slow sales. Credit was denied to our prospective customers because of tight monetary policy,' he said.
'Things are not particularly bright even right now. But we hope after Tuesday's vote in the parliament, economy will pick its pace up.'
Hyundai Motors India - which counts actor Shahrukh Khan and tennis ace Sania Mirza as its brand ambassadors - is part of South Korea's Hyundai Kia Motors Automotive Group, formed after the merger between Hyundai and Kia in 1998.
Kia - the official sponsor of the Australian Open grand slam tournament - has a presence in the European and North American markets apart from the domestic market in South Korea.
Kia and Hyundai do have overlapping interests in certain markets, but the group has no plans to launch the Kia brand in the India, Heung explained.
Thursday, July 31, 2008
Wednesday, July 30, 2008
India's Tata Motors Q1 net profit falls 30 percent to 3.26 bln rupees
MUMBAI (Thomson Financial) - Tata Motors Ltd. said first-quarter net profit fell nearly 30 percent due to higher input costs and valuation loss from the volatility in foreign exchange rates.
For the quarter to July 30, the auto maker's net profit declined 30.13 percent to 3.26 billion rupees from 4.66 billion rupees last year while net revenue rose 14.4 percent to 69.28 billion rupees from last year.
Tata Motors (nyse: TTM news people) shares provisionally closed up 6.85 percent to 424 rupees, while the benchmark Sensex rose 3.63 percent to 14,291.58.
Tata Scenario in India
Tata is planning to roll out its much awaited model Tata Nano in India in October- December quarter. It aims to lure first time car buyers in India who currently own two-wheelers and wish for a little more luxury. The project to roll out Tata Nano is near to completion and according to the company sources company officials are taking care to stick to the schedule strictly. Tata has directly challenged the status quo of Maruti Suzuki in India which is India's largest car manufacturer. It plans to double its capacity for Nano production looking at the present market demand.
It has already acquired Land Rover and Jaguar luxury brands from Ford Motors. It has already stated that it shall carry their brand value and shall not shift their manufacturing operations from their existing production plant.
Tata has recently announced that it shall launch its electric car by the end of current fiscal year. It shall then market the vehicle in overseas markets as well. Moreover, it has launched a 623cc car earlier in January this year. It shall also introduce new variants of this model soon. It is also looking at resurrecting the Daimler brand presently owned by Jaguar. Tata is currently looking at expanding its product portfolio in nearly every auto segment in India. It shall also introduce fuel-efficient models looking at the rising demand of such models due to high fuel prices and rising inflation.
Monday, July 28, 2008
Donning new look, Fiat shifts India gear
Fiat India is going for an overhaul. Under a global revival strategy, the Italian major is planning to create a new identity in the Indian market, by bringing its iconic brands like Ferrari, Alfa Romeo, Maserati and Cinquecento.
As part of this revamp plan, Fiat also plans to sell its excess capacity of engines, including the famed 1,300cc multijet diesel ones produced at its Ranjangaon factory, to other companies, to reap the benefit of shortage of such products in the Indian market.
Rajeev Kapoor, CEO of the Fiat-Tata JV Fiat India Automobiles Pvt Ltd (FIAPL), said the company is open to "opportunities in India and abroad" to sell the excess capacity of diesel and petrol engines. "There were discussions earlier, but so far there is no commitment. But capacities are there. And the way it happens is that Fiat has to sign an understanding with other companies, and the sourcing can be out of India," Kapoor told TOI.
Outlining an ambitious and aggressive revival plan for Fiat in India, a market where the company's volumes shrunk to 0.2% in 2007-08, or just 3,379 units out of the total car industry sale of 12 lakh units, Kapoor said, "We have already launched Palio in the 1300cc multijet diesel engine and it is picking up numbers. The next would be the Linea sedan around the festive season, while the Grande Punto hatchback will be out early next year," he said.
These cars with a high degree of localisation, would be Fiat's answer to competition from companies like Maruti Suzuki, Hyundai, Honda and Tata Motors.
And recognising the fact the luxury and sports cars have a promising market in India, Fiat has also decided to unveil its core strength by bringing some of its famed models via import route.
It has already rolled out famous neo-retro concept car Fiat500, also known as Cinquecento, that has been leading its charge globally, to be followed by another evocative hatchback Bravo. There is also plan to roll out the top-of-the-range Alfa Romeo, Ferarri and Maserati, though Kapoor declined to elaborate on them.
Kapoor is not worried by the hefty Rs 15 lakh price tag of the two-door Fiat500 and said the idea behind the style launches is not volumes but to showcase Fiat's brand value to Indian audience. "It is certainly an effort at building the brand. We want people here to see what Fiat stands for globally - styling, safety and remarkable engine quality."
Banking on Tata-Fiat co-branded dealerships for sales and service, the company hopes to increase sales to 45,000 units in 2009, garnering a 3% share of the expected 15 lakh car sales.
Kapoor said FIAPL would have a capacity of 300,000 engines - 1,300cc diesel multijet engines (used by Maruti Suzuki on its Swift and Dzire and General Motors on Opel models) and the petrol 1200cc and 1400cc engines.
While the first priority would be to meet requirements of Tata Motors and Fiat cars, the engines would also be exported to other Fiat plants worldwide. The rest of the capacity will be sold to other companies.
As part of this revamp plan, Fiat also plans to sell its excess capacity of engines, including the famed 1,300cc multijet diesel ones produced at its Ranjangaon factory, to other companies, to reap the benefit of shortage of such products in the Indian market.
Rajeev Kapoor, CEO of the Fiat-Tata JV Fiat India Automobiles Pvt Ltd (FIAPL), said the company is open to "opportunities in India and abroad" to sell the excess capacity of diesel and petrol engines. "There were discussions earlier, but so far there is no commitment. But capacities are there. And the way it happens is that Fiat has to sign an understanding with other companies, and the sourcing can be out of India," Kapoor told TOI.
Outlining an ambitious and aggressive revival plan for Fiat in India, a market where the company's volumes shrunk to 0.2% in 2007-08, or just 3,379 units out of the total car industry sale of 12 lakh units, Kapoor said, "We have already launched Palio in the 1300cc multijet diesel engine and it is picking up numbers. The next would be the Linea sedan around the festive season, while the Grande Punto hatchback will be out early next year," he said.
These cars with a high degree of localisation, would be Fiat's answer to competition from companies like Maruti Suzuki, Hyundai, Honda and Tata Motors.
And recognising the fact the luxury and sports cars have a promising market in India, Fiat has also decided to unveil its core strength by bringing some of its famed models via import route.
It has already rolled out famous neo-retro concept car Fiat500, also known as Cinquecento, that has been leading its charge globally, to be followed by another evocative hatchback Bravo. There is also plan to roll out the top-of-the-range Alfa Romeo, Ferarri and Maserati, though Kapoor declined to elaborate on them.
Kapoor is not worried by the hefty Rs 15 lakh price tag of the two-door Fiat500 and said the idea behind the style launches is not volumes but to showcase Fiat's brand value to Indian audience. "It is certainly an effort at building the brand. We want people here to see what Fiat stands for globally - styling, safety and remarkable engine quality."
Banking on Tata-Fiat co-branded dealerships for sales and service, the company hopes to increase sales to 45,000 units in 2009, garnering a 3% share of the expected 15 lakh car sales.
Kapoor said FIAPL would have a capacity of 300,000 engines - 1,300cc diesel multijet engines (used by Maruti Suzuki on its Swift and Dzire and General Motors on Opel models) and the petrol 1200cc and 1400cc engines.
While the first priority would be to meet requirements of Tata Motors and Fiat cars, the engines would also be exported to other Fiat plants worldwide. The rest of the capacity will be sold to other companies.
Saying Tata to Toorak tractors
PETROL shortages and rising prices at the pump are becoming a permanent pain in the pocket and purse for everyone who drives a car.
But are they the beginning of a design and manufacturing revolution that can breathe new life into the Australian automobile industry?
For all their extraordinary achievements, the companies making the world's cars and trucks have been notoriously slow to adapt to change.
To earn profits, they are hostage to the need for huge investment, massive redesign and retooling costs, and long production runs.
Nano
Unveiled in India last January, the first release model is now in the final stages of full-scale production, for sale late this year.
A four-seater all-weather sedan, averaging 100km on five litres of petrol, it has been designed to sell for an Australian equivalent price of about $2500, not including tax, transport and on-road charges.
It has no airconditioning, no electric windows, no power steering, and no airbag. It is just over 3 metres long and 1.5 metres wide.
The body is made of sheet metal and plastic, shiny bright yellow gloss finish in the launch model.
It has a top speed of 104km/h, a 0.6 litre rear engine, and a four-speed manual gearbox. It is test-proved to meet international crash standards and emission laws.
Diesel, gas, electric hybrid and gas options are in development.
It's the brainchild of the extraordinary Ratan Tata, chairman of India's powerful Tata Motors group, who dreamed of producing a new "people's car" that would change the accepted platform on which the worldwide auto industry builds and markets cars.
Tata aims to sell 500,000 cars a year over five years to India's consuming class of 250 million, with overwhelming demand already identified among rural and smaller-city dwellers, where roads are still relatively clear of the nation's six million powered two and three wheelers.
That sounds like a group very similar to Australia's fringe city dwellers and 180 degrees from the world automobile industry's current mainstream direction.
Our television screens nightly advertise the off-road virtues of heavy, ruggedly constructed passenger vehicles and their increasing lists of sophisticated features.
Tata's team of 500 (mostly young) innovators took four years to beat off industry disparagement and doubts, producing the first production model on time and priced to sell at a mission impossible price.
The Nano's significance is that it is the first of a new category of workhorse transport which slashes the capital cost of ownership, making it affordable for millions in the new world.
It is not going to make the current car population obsolete.
But its chosen target market in India has many similarities to potential buyers in Australia - the family car for struggling families, the potentially trendy second car for pragmatic better-off city dwellers.
Tata will ship each vehicle as an almost complete package, supplemented by parts and accessories to be added by its strategically located dealer-assemblers.
That's a recipe that should be attractive to Australia, with our experienced labor force, under-used factories and healthy steel industry.
At the Nano launch, someone asked Tata whether he would be aiming at the Chinese market.
He avoided the question adding, perhaps wryly: "If we could do it, so can others."
However, he has since acknowledged the possibility of franchising later to entrepreneurs in other countries.
But are they the beginning of a design and manufacturing revolution that can breathe new life into the Australian automobile industry?
For all their extraordinary achievements, the companies making the world's cars and trucks have been notoriously slow to adapt to change.
To earn profits, they are hostage to the need for huge investment, massive redesign and retooling costs, and long production runs.
Nano
Unveiled in India last January, the first release model is now in the final stages of full-scale production, for sale late this year.
A four-seater all-weather sedan, averaging 100km on five litres of petrol, it has been designed to sell for an Australian equivalent price of about $2500, not including tax, transport and on-road charges.
It has no airconditioning, no electric windows, no power steering, and no airbag. It is just over 3 metres long and 1.5 metres wide.
The body is made of sheet metal and plastic, shiny bright yellow gloss finish in the launch model.
It has a top speed of 104km/h, a 0.6 litre rear engine, and a four-speed manual gearbox. It is test-proved to meet international crash standards and emission laws.
Diesel, gas, electric hybrid and gas options are in development.
It's the brainchild of the extraordinary Ratan Tata, chairman of India's powerful Tata Motors group, who dreamed of producing a new "people's car" that would change the accepted platform on which the worldwide auto industry builds and markets cars.
Tata aims to sell 500,000 cars a year over five years to India's consuming class of 250 million, with overwhelming demand already identified among rural and smaller-city dwellers, where roads are still relatively clear of the nation's six million powered two and three wheelers.
That sounds like a group very similar to Australia's fringe city dwellers and 180 degrees from the world automobile industry's current mainstream direction.
Our television screens nightly advertise the off-road virtues of heavy, ruggedly constructed passenger vehicles and their increasing lists of sophisticated features.
Tata's team of 500 (mostly young) innovators took four years to beat off industry disparagement and doubts, producing the first production model on time and priced to sell at a mission impossible price.
The Nano's significance is that it is the first of a new category of workhorse transport which slashes the capital cost of ownership, making it affordable for millions in the new world.
It is not going to make the current car population obsolete.
But its chosen target market in India has many similarities to potential buyers in Australia - the family car for struggling families, the potentially trendy second car for pragmatic better-off city dwellers.
Tata will ship each vehicle as an almost complete package, supplemented by parts and accessories to be added by its strategically located dealer-assemblers.
That's a recipe that should be attractive to Australia, with our experienced labor force, under-used factories and healthy steel industry.
At the Nano launch, someone asked Tata whether he would be aiming at the Chinese market.
He avoided the question adding, perhaps wryly: "If we could do it, so can others."
However, he has since acknowledged the possibility of franchising later to entrepreneurs in other countries.
Saturday, July 26, 2008
Tata Motors to roll out electric cars
Chairman of Tata Group Ratan Tata poses with the Tata 'Nano' car during the launch at the 9th Auto Expo in New Delhi on January 10, 2008.
MUMBAI: Even as Tata Motors is gearing up for the much-awaited Nano launch, India’s top vehicle maker is working with a Norway-based company to produce an electric car.
The new car is expected to hit the Indian roads this financial year, said chairman Ratan Tata at the company’s AGM here on Thursday. However, Mr Tata did not disclose the possible price range for the electric car.
Electric car, or e-car, is the new super kid in the world of automobiles. Global auto majors like GM, Nissan and Honda are all putting greater focus on e-vehicles while cutting down on the production of fuel-guzzling light trucks and SUVs.
Volkswagen to enter pre-owned car business in India
Mindful of its late entry into India, the company has lined up aggressive plans to make big inroads into India that also includes having dedicated 'brand stores'.
Volkswagen, that currently sells some of its premium cars in India, is investing around Rs 2400 crore for a greenfield factory at Chakan in Maharashtra that would be the main facility for its upcoming volume cars. .
Thursday, July 24, 2008
Mahindra Renault may export Logan cars from India
A joint-venture of India's Mahindra & Mahindra (MAHM.BO: Quote, Profile,Research) and France's Renault Quote, Profile, Research, which makes the no-frills Logan in India, plans to export the model as higher borrowing costs and fuel prices trim sales.
Mahindra Renault also hopes to roll out a version of the sedan which runs on cheaper natural gas in the next 2-3 months, Chief Operating Officer Nalin Mehta said on Wednesday as he launched a premium variant of the Logan.
"May be next quarter itself we'll talk about it," Mehta said of the exports plan. "We are already doing some pilots in some countries," he said, adding the company would target India's neighbours and some countries in Africa.
Higher costs of raw materials such as steel, and rising interest rates aimed at checking annual inflation at 13-year highs, have bumped up vehicle loan rates by 200-300 basis points and depressed demand.
A fuel price hike in June of 10 percent, the biggest increase in a dozen years, has further crimped consumer spending and delayed vehicle purchases.
Mahindra Renault, which started selling the Logan last year, saw its car sales fall to 5,000 units in the April-June quarter from 8,300 cars in the first three months of 2008, Mehta said. A 10-day maintenance shutdown at its manufacturing plant in western India in June also hit sales.
"Yes, the market is less buoyant than last year ... but we are just a year old," he said.
Mahindra Renault has a current annual capacity of 25,000 units, but had the equipment in place to scale it up to 50,000 units, Mehta said.
VW plans pre-owned car biz
Volkswagen, Europe’s biggest carmaker, will be making a big push into the Indian market ahead of launching its compact cars and has decided to enter the pre-owned car business to poach customers from current market-leading brands like Maruti and Hyundai.
Mindful of its late entry into India, the company has lined up aggressive plans to make big inroads into India that also includes having dedicated ‘brand stores’.
Volkswagen, that currently sells some of its premium cars in India, is investing around Rs 2400 crore for a greenfield factory at Chakan in Maharashtra that would be the main facility for its upcoming volume cars.
"India is an important market for VW, though the late entry does not put us into a disadvantage as we get to learn from the mistakes that other companies made,” Makham Dhalivaal, newly-appointed MD of VW Passenger Cars, told TOI in an interview.
The India-born Dhalivaal, who has more than 25 years of experience in the automotive industry though mostly in Europe, said the company wanted to create a brand equity for VW in India before going in for mass volume segment. "We would be adopting a top-down strategy here, which means launching the premium cars first and then getting into the volume segment with our small cars,” he said. Getting into the used-car market would be an important strategy for the company, he said, pointing out that it was an easy way to poach people from other brands.
"Pre-owned cars would be a key part of our business and would also open up fresh revenue streams for our dealers,” he said. The used car business would enable people driving different brands to trade their old cars for VW cars.
"It is a good business opportunity and an excellent way to get people into your brand portfolio,” Dhalivaal, who has a previous experience in pre-owned business, said. The used-car and exchange market—once dominated by unorganised players—has witnessed action over the last few years, especially after market leader Maruti Suzuki stepped into the business around 2001.
Other players who are in the business include Hyundai which has it under the brand name ‘Advantage’, Ford with ‘Assured’ and Honda with ‘Auto Terrace’. Maruti sells around 12% of its new cars through ‘True Value’.
Mindful of its late entry into India, the company has lined up aggressive plans to make big inroads into India that also includes having dedicated ‘brand stores’.
Volkswagen, that currently sells some of its premium cars in India, is investing around Rs 2400 crore for a greenfield factory at Chakan in Maharashtra that would be the main facility for its upcoming volume cars.
"India is an important market for VW, though the late entry does not put us into a disadvantage as we get to learn from the mistakes that other companies made,” Makham Dhalivaal, newly-appointed MD of VW Passenger Cars, told TOI in an interview.
The India-born Dhalivaal, who has more than 25 years of experience in the automotive industry though mostly in Europe, said the company wanted to create a brand equity for VW in India before going in for mass volume segment. "We would be adopting a top-down strategy here, which means launching the premium cars first and then getting into the volume segment with our small cars,” he said. Getting into the used-car market would be an important strategy for the company, he said, pointing out that it was an easy way to poach people from other brands.
"Pre-owned cars would be a key part of our business and would also open up fresh revenue streams for our dealers,” he said. The used car business would enable people driving different brands to trade their old cars for VW cars.
"It is a good business opportunity and an excellent way to get people into your brand portfolio,” Dhalivaal, who has a previous experience in pre-owned business, said. The used-car and exchange market—once dominated by unorganised players—has witnessed action over the last few years, especially after market leader Maruti Suzuki stepped into the business around 2001.
Other players who are in the business include Hyundai which has it under the brand name ‘Advantage’, Ford with ‘Assured’ and Honda with ‘Auto Terrace’. Maruti sells around 12% of its new cars through ‘True Value’.
Tuesday, July 22, 2008
Suzuki bets big on India, to launch new car
New Delhi, Dec 11 (IANS) Japanese auto maker Suzuki Motor Corp (SMC) will launch a new 'global car' in India and locate its biggest production units in the country, company chairman Osamu Suzuki said here Tuesday.
The new car, referred to as a 'global car' by the company, would be made at Maruti Suzuki India Ltd's (MSIL) plant near the capital. Suzuki owns 54.2 percent stake in MSIL.
The car would be targeted primarily at the European market and is expected to be launched in the small car segment, officials said.
'In order to cope with the more intensifying competition, Maruti will make further investments in the field of not only manufacturing but also R&D (research and development) and sales,' Suzuki told a gathering of industry leaders at the Federation of Indian Chambers of Commerce and Industry (Ficci) here.
Osamu Suzuki is currently on a three-day visit to India. He is expected to highlight the increasing significance of India, which is gradually emerging as one of the company's most important markets after Japan.
'Both our plants (Gurgaon and Manesar in Haryana) are totally geared up to produce one million units a year by 2010, but our sales network needs to be strengthened which remains one of our weak areas,' Suzuki said, adding that the company is keen to invest over $1 billion in R&D in India.
He also highlighted some of the deterrents that the company is facing in producing one million cars in India.
'Even though we have set ourselves the target of producing one million units by 2010, we are worried about certain challenges that the company is facing in India.
'One of them is the capacity at the Mumbai port, which is currently full and operating beyond its capacity. We are also eagerly waiting for the railway freight to come up, in the absence of which we are facing huge difficulties in transportation between Delhi and Mumbai.'
The Indian government, which earlier owned a stake in the firm's Indian subsidiary, completely exited from it in May this year.
The Maruti saga began in the 1970s when Suzuki responded to the invitation of then prime minister Indira Gandhi to set up a car factory in India in collaboration with her favourite son Sanjay Gandhi's prototype small car project.
car prices in India Go up
The car prices in India are witnessing yet another hike in nearly all car models from all car manufacturers. The car makers in India have hiked prices on nearly all their car models for the third time this year. Prices for nearly all metals have escalated in past few months and car makers are forced to hike prices for their car models due to rising input costs. Aluminium, nickel, copper, steel, plastic and even rubber prices have witnessed a steep rise which has added to the manufacturing costs.
Auto makers shall hike their car prices by Rs. 5000 on small cars to Rs. 12000 on luxury car models. Honda Siel Cars India has already hikes prices of its model City by Rs. 15,000 Civic by Rs. 20,000 and the new Accord by Rs. 30,000. Maruti has commented that it shall also hike the car prices after the market review. General Motors is also evaluating its options to hike car prices and its impact on Company’s market share.
According to Pawan Goenka, President (Automotive Sector), Mahindra and Mahindra, the rising input costs have hit the Company’s bottom line and it is not forced to pass on the burden to its customers. The input costs have gone up by more than 30 percent while the car makers are increasing their prices only by 3-4 percent.
Auto makers shall hike their car prices by Rs. 5000 on small cars to Rs. 12000 on luxury car models. Honda Siel Cars India has already hikes prices of its model City by Rs. 15,000 Civic by Rs. 20,000 and the new Accord by Rs. 30,000. Maruti has commented that it shall also hike the car prices after the market review. General Motors is also evaluating its options to hike car prices and its impact on Company’s market share.
According to Pawan Goenka, President (Automotive Sector), Mahindra and Mahindra, the rising input costs have hit the Company’s bottom line and it is not forced to pass on the burden to its customers. The input costs have gone up by more than 30 percent while the car makers are increasing their prices only by 3-4 percent.
Monday, July 21, 2008
Tata Motors to introduce Air Car
Tata Motors is taking giant strides and making history for itself. First the Tata Landrover Jaguar deal, then the Tata Nano Car and now it is also set to introduce the car that runs on air, compressed air to be specific.
With fuel prices touching nearly $150 per barrel, it is about time we heard some breakthrough !
India’s largest automaker Tata Motors is set to start producing the world’s first commercial air-powered vehicle. The Air Car, developed by ex-Formula One engineer Guy Nègre for Luxembourg-based MDI, uses compressed air, as opposed to the gas-and-oxygen explosions of internal-combustion models, to push its engine’s pistons. Some 6000 zero-emissions Air Cars are scheduled to hit Indian streets in August of 2008.
The Air Car, called the MiniCAT could cost around Rs. 3,50,000 ($ 8177) in India and would have a range of around 300 km between refuels.
The cost of a refill would be about Rs. 85 ($ 2). Tata motors also plans to launch the world’s cheapest car, Tata Nano priced famously at One lakh rupees by October.
The MiniCAT which is a simple, light urban car, with a tubular chassis that is glued not welded and a body of fiberglass powered by compressed air. Microcontrollers are used in every device in the car, so one tiny radio transmitter sends instructions to the lights, indicators etc.
There are no keys - just an access card which can be read by the car from your pocket. According to the designers, it costs less than 50 rupees per 100Km (about a tenth that of a petrol car). Its mileage is about double that of the most advanced electric car (200 to 300 km or 10 hours of driving), a factor which makes a perfect choice in cities where the 80% of motorists drive at less than 60Km. The car has a top speed of 105 kmph. Refilling the car will, once the market develops, take place at adapted petrol stations to administer compressed air. In two or three minutes, and at a cost of approximately 100 rupees, the car will be ready to go another 200-300 kilometers.
i10 is Indian Car of the Year.
The Hyundai i10 has secured the coveted title for 2008 Indian Car of the Year. The i10 is a car that made its global launch in India,and is manufactured in the country for the rest of the world. Criteria like price, fuel efficiency, design, comfort, safety, handling, performance, functionality, environmental responsibility and driver satisfaction were kept in mind. Technical innovation and value for money were particularly important factors while deciding on the winner.
Four new cars qualified for this year's award. These were the Chevrolet Spark, Hyundai i10, Mahindra Renault Logan and the Maruti Suzuki SX4. As is evident these cars are essentially new models and not just cosmetic upgrades of an existing vehicle or an installation of a new engine or transmission. The cars are considered irrespective of their country of origin but must be available in India at the time of voting and must have been homologated for Indian type approval.
The jury members were tasked with pronouncing a single decisive winner and the voting process has been designed specifically for this purpose, not to provide a scale of merit of all competing cars. Categories, sub-divisions and the like have thus been done away with and the jury is required to assess cars from various segments and price categories against their immediate market rivals.
The Indian Car of the Year award is an expert, independent judgment of all new cars on the Indian market, judged by a panel of senior motoring journalists from leading automobile magazines in India. This year, twelve automotive journalists from seven publications – Autocar India, Auto India, Business Standard Motoring, Car India, Overdrive, Top Gear India and What Car got together to deliberate on the Indian Car of the Year 2008 and to crown the most outstanding new car to go on sale in the twelve months preceding the date of the title.
Selection of the winning car was by a simple voting system. Each Jury member has 25 points to apportion to at least five cars, with a maximum of 10 points for any one of them. Heung Soo Lheem, managing director and CEO of Hyundai Motor India Ltd received the award. "It is a great achievement for Hyundai. We want to make great cars which are appreciated in India and around the world. The success of the i10 is proof of that. Now we are working on one more car - the i20 - which will be launched later this year, and which we hope will win the Indian Car of the Year award for us again in 2009."
Four new cars qualified for this year's award. These were the Chevrolet Spark, Hyundai i10, Mahindra Renault Logan and the Maruti Suzuki SX4. As is evident these cars are essentially new models and not just cosmetic upgrades of an existing vehicle or an installation of a new engine or transmission. The cars are considered irrespective of their country of origin but must be available in India at the time of voting and must have been homologated for Indian type approval.
The jury members were tasked with pronouncing a single decisive winner and the voting process has been designed specifically for this purpose, not to provide a scale of merit of all competing cars. Categories, sub-divisions and the like have thus been done away with and the jury is required to assess cars from various segments and price categories against their immediate market rivals.
The Indian Car of the Year award is an expert, independent judgment of all new cars on the Indian market, judged by a panel of senior motoring journalists from leading automobile magazines in India. This year, twelve automotive journalists from seven publications – Autocar India, Auto India, Business Standard Motoring, Car India, Overdrive, Top Gear India and What Car got together to deliberate on the Indian Car of the Year 2008 and to crown the most outstanding new car to go on sale in the twelve months preceding the date of the title.
Selection of the winning car was by a simple voting system. Each Jury member has 25 points to apportion to at least five cars, with a maximum of 10 points for any one of them. Heung Soo Lheem, managing director and CEO of Hyundai Motor India Ltd received the award. "It is a great achievement for Hyundai. We want to make great cars which are appreciated in India and around the world. The success of the i10 is proof of that. Now we are working on one more car - the i20 - which will be launched later this year, and which we hope will win the Indian Car of the Year award for us again in 2009."
Sunday, July 20, 2008
Tata buys Jaguar and Land Rover
The sale of Jaguar and Land Rover has been completed following the finalisation of the complicated deal between Ford and India’s Tata Motors.
The Indian conglomerate has borrowed $2.3 billion (£1.2 billion) to buy the two brands, but maintains that it will not move production of Jaguars or Land Rovers to India, and will respect the brands' British heritage.
Tata chairman Ratan Tata confirmed his company will stick to the five-year investment plan for the UK factories in Halewood, Solihull and Castle Bromwich. Announcing the deal, he said:
“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.”
Union worries about job losses have been partially allayed by the five-year promise and assurances that Tata will continue to use Ford-supplied engines. Many of Jaguar and Land Rover’s engines, such as the 2.7-litre V6 diesel and 3.2 V6 petrol, are made in Ford’s Dagenham and Bridgend factories. Ford will also transfer $600 million to the Jaguar and Land Rover pension fund.
Ford’s Executive Vice President, Lewis Booth, told Autocar that Ford will help Tata to integrate green technology into the Jaguar and Land Rover ranges, and he also that the engine supply arrangement is a long-term deal, saying that “Tata is really committed to the business and really committed to Britain.”
Booth also confirmed that Ford is not maintaining any stake in Jaguar / Land Rover, in contrast to the 15 per cent holding it maintained in Aston Martin when it sold the company last year.
Jaguar Land Rover CEO, Geoff Polites, welcomed the formal announcement of the deal by saying:
“Jaguar Land Rover’s management team is very pleased that Ford and Tata Motors have come to an agreement today. Our team has been consulted extensively on the deal content and feels confident that it provides for the business needs of both our brands going forward.”
The Indian conglomerate has borrowed $2.3 billion (£1.2 billion) to buy the two brands, but maintains that it will not move production of Jaguars or Land Rovers to India, and will respect the brands' British heritage.
Tata chairman Ratan Tata confirmed his company will stick to the five-year investment plan for the UK factories in Halewood, Solihull and Castle Bromwich. Announcing the deal, he said:
“We are very pleased at the prospect of Jaguar and Land Rover being a significant part of our automotive business. We have enormous respect for the two brands and will endeavour to preserve and build on their heritage and competitiveness, keeping their identities intact. We aim to support their growth, while holding true to our principles of allowing the management and employees to bring their experience and expertise to bear on the growth of the business.”
Union worries about job losses have been partially allayed by the five-year promise and assurances that Tata will continue to use Ford-supplied engines. Many of Jaguar and Land Rover’s engines, such as the 2.7-litre V6 diesel and 3.2 V6 petrol, are made in Ford’s Dagenham and Bridgend factories. Ford will also transfer $600 million to the Jaguar and Land Rover pension fund.
Ford’s Executive Vice President, Lewis Booth, told Autocar that Ford will help Tata to integrate green technology into the Jaguar and Land Rover ranges, and he also that the engine supply arrangement is a long-term deal, saying that “Tata is really committed to the business and really committed to Britain.”
Booth also confirmed that Ford is not maintaining any stake in Jaguar / Land Rover, in contrast to the 15 per cent holding it maintained in Aston Martin when it sold the company last year.
Jaguar Land Rover CEO, Geoff Polites, welcomed the formal announcement of the deal by saying:
“Jaguar Land Rover’s management team is very pleased that Ford and Tata Motors have come to an agreement today. Our team has been consulted extensively on the deal content and feels confident that it provides for the business needs of both our brands going forward.”
New V10 boosts Gallardo to 552bhp
Lighter, faster and more powerful - this is Lamborghini’s facelifted Gallardo, the LP560-4.
It takes its name from the 560PS (552bhp) power output of the new 5.2-litre V10, up by 40bhp. The engine, developed with Audi, is new and uses the VW Group’s FSI direct injection, which Lamborghini is calling Inienzione Stratificata. Torque is up by 3kgm to 54.2kgm.
The extra shove fractionally improves the Gallardo’s 0-100kph time — now 3.7sec and a match for Ferrari’s 430 Scuderia — but it should also improve midrange performance with more torque available at 4000rpm than the old car had at its peak output. And it should make an even better noise with a new exhaust system.
On the outside there’s a new Reventon-style front bumper and an entirely new rear designed to make the back end look more horizontal. Some of the changes are aimed at cutting costs. The engine has plastic covers, and the accerartor pedal is now plastic with a clip-on alloy cover; it was solid aluminium.
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