Speed bumps for luxury cars, SUVs, sports bikes

The assembled luxury cars and top-end bikes in India will become costlier, along with imported trucks, buses and tempos, as the finance minister has proposed doubling basic custom duty rate for engines and engine parts for all vehicles, 5 per cent increase each on SKD (semi knocked down) vehicles and trucks, buses and tempos imported through CBU (completely built up) route.

Ford Unveils Freestyle

American car giant Ford took the covers off the new Freestyle, its Figo-based crossover, making its global debut in India where it would go on sales from July. The ‘Made-in-India’ car will also be exported to European market. Ford is calling it a CUV or a compact utility vehicle, which is essentially a jazzier and beefed up variant of the new Figo hatchback.

Spark Minda Tech Centre comes up at Chaken

Minda Corporation, the BSE listed automotive component manufacturer, on Tuesday opened its new Spark Minda Technical Centre (SMIT) at Chaken, near Pune with an investment of Rs 60 crore.

The Gurgaon-headquartered firm is gearing to meet demands of the growing automobile industry with the government’s push for electric vehicles or EV by 2030.

The company, which was targeting export revenues to the tune of Rs 500 crore by 2021 from Rs 150 crore clocked last fiscal, has currently got an export book order of Rs 400 crore.

TVS Motor launches crusade against copy cats

TVS Motor Company, manufacturer of two-wheelers and three-wheelers, has kicked off a countrywide copy cat hunt to protect the brand and customers from the ill effects of spurious market. India’s auto components market is pegged at $30 billion and spurious components  (fake/ copy right infringed parts) account for 30 to 40 per cent of it.

Hero MotoCorp re-enters premium segment with new Xtreme 200R bike

Hero MotoCorp, India’s biggest motorcycle makes by sales, on Tuesday unveiled an all-new model called the Xtreme 200R as part of its plans to strengthen its presence in the rapidly growing premium segment in Asia’s  third biggest economy.

Showcased at the Auto Expo 2016, the new product powered by a 200cc air-cooled engine will hit markets across the country in April this year and its rivals include the Bajaj Pulsar NS 200 and TVS Apache RTR 200. The prices will be announced closer to the date.

Eveready to diversify into FMCG segment

Close on the heels of foraying into the Rs 9000 crore fast growing confectionary market, under the brand – Jollies, Eveready Industries India (EIIL), a market leader in dry cell battery market, has teamed up with Universal Wellbeing Pte of Indonesia to float a new JV company for developing, manufacturing and selling a wide variety of products in fabric and household care, personal care, skincare, and foods and beverages segments.

Positioning through consumer awareness

It’s telling the consumers with a dash of humour that a wrong purchase decision with regard to plywood may eventually be socially embarrassing and then guiding consumers to choose the right the plywood brand. Greenply Industries Limited (GIL), a leader in manufacturing plywood and allied products, thought this to be the novel and ideal way to promote and position its brand in the market. 

Ford launches Endeavour SUV with panoramic sunroof

American car giant Ford has introduced the electric panoramic sunroof to the features list of its sports utility vehicle or SUV Ford Endeavour in a bid to make it a better value for money and boost sales.

Priced at Rs 29.57 lakh at Delhi showroom, this new feature is offered on the mid-variant 2.2-litre Endeavour. The Endeavour competes with the segment-leader Toyota Fortuner, Skoda Kodiaq and the Isuzu MU-X in the competitive and price conscious Indian market.

India's richest 1% corner 73% of wealth

The richest one per cent in India cornered 73 per cent of the wealth generated in the country last year, a new survey showed on Monday, presenting a worrying picture of rising income inequality.

Besides, 67 crore Indians comprising the population’s poorest half saw their wealth rise by just 1 per cent, as per the survey released by the international rights group Oxfam hours before the start of the annual congregation of the rich and powerful from across the world in this resort town.

JLR ready to launch e-car in India

Tata Motors-owned British luxury car marquee Jaguar Land Rover is ready to launch its fully electric car in India provided the infrastructure needed for such cars is ready.

“We are ready to launch the fully electric car in the country,” Rohit Suri, president & managing director at Jaguar Land Rover India told Financial Chronicle.

He said Jaguar Land Rover will launch its all-electric Jaguar the I-Pace SUV in March 2018 for the global market and it can also be introduced in India.