Pune

Tata Motors launches ‘Ultra’ range of trucks

Tata Motors, India’s biggest commercial vehicle maker by sales, has launched Ultra brand range of trucks to defend and consolidate its overall market share from losing to rivals in Asia’s third biggest economy.

In August 2017, the company had announced its aggressive growth game-plan to regain 5 per cent market share. In FY2018, the company sold a total of 376,456 commercial vehicles, growing its market share to 43.96 per cent from 42.80 per cent in FY2017.

Piramal Housing Finance aims to double assets

Piramal Housing Finance, the wholly owned subsidiary of Piramal Finance, is looking at more than doubling its Rs 1,400-crore housing finance assets under management within a year on the back of “demand for housing limping back” in the organised sector.

Its new retail housing finance business offers home loans, loan against property and smaller ticket construction finance to developers.

The Mumbai-headquartered company also plans to open a total of 24 branches for retail housing finance across India by the end of 2020.

Delhi politicians responsible for PSB mess: Ex-Sebi chief

Former Sebi chairman M Damodaran blamed the telephone calls from Delhi to Mumbai for the myriad problems that public sector banks face now and warned against their privatisation to resolve the crisis.

“Telephone calls from Delhi to Bombay, over the years, have been at the root of the problem of the public sector banks. People in Bombay have been unquestionably responding to the direction from Delhi,” Damod­aran said told the students of the RBI-run National Institute of Bank Management here on Wednesday on their convocation.

JLR opens bookings for new Range Rover and Range Rover Sport

Tata Motors-owned British sports car maker Jaguar Land Rover has opened the bookings for the 2018 Range Rover and Range Rover Sport facelift models in India to boost its sales in Asia’s third biggest car mart.

These sports utility vehicles or SUVs will be launched in the country in a couple of months.

Both the SUVs comprising of four trims of 3-litre V6 diesel, 4.4-litre V8 diesel and 3-litre V6 supercharged petrol, 5-litre V8 supercharged petrol variants each will be sold in India.

Mahindra launches XUV500 facelift for Rs 12.32 lakh onward

Mahindra & Mahindra, India’s biggest utility vehicle maker, on Wednesday introduced a facelift version of its flagship sport utility vehicle XUV500 with a target to achieve 25 per cent more monthly sales growth of this vehicle that was first unveiled in 2011.

The ageing Mahindra XUV500 had been facing tough competition from new SUVs like the Tata Hexa, the Jeep Compass, and Hyundai Creta, among other models in the fiercely competitive and price conscious third biggest growing car mart in Asia.

Lexus drives in new hybrids

Lexus, the luxury arm of the Japanese automobile giant Toyota, which completed one year of its entry in April in India, the world’s fourth largest and Asia’s fiercely competitive yet lucrative third biggest car mart, is steadily gaining market share.

The Bangalore-headquartered auto major has started deliveries of its popular hybrid electric sports utility vehicle or SUV, the NX 300h to mark one year of its operation in the country.

Lexus brand is the luxury hybrid leader, having sold over a million hybrid vehicles globally.

The all new Audi RS5 Coupe unveiled in India @ Rs 1.11 crore

Audi, the third biggest German luxury car maker by sales in India, has introduced the second generation Audi RS5 Coupé in Asia’s third biggest car mart to boost sales.

Priced at Rs 1.11 crore, the all new Audi RS5 Coupé, imported in CBU (completely built unit) form from Ingolstadt, Germany, competes with the BMW M4, which costs a tad higher at Rs 1.33 crore.

India to get normal monsoon rains in 2018: IMD

The southwest monsoon rains, which irrigate over 70 per cent of farm land with no irrigation facilities, is likely to be normal, the India Meteorological Department forecast on Monday. The good news has brought relief to millions of farmers, policy makers and political parties of all hues, especially to the BJP government as it faces general polls in 2019.

Mahindra Powerol forays into gas genset segment

Mahindra Powerol, a unit of the $19 billion Mahindra Group, has forayed into the lucrative gas powered genset vertical with the launch of a CNG/NG powered product priced at Rs 9.5 lakh.

The company, which sells diesel-powered gensets, plans to sell the new range through its own channel of 200 dealers across the country.

Hemant Sikka, president at Mahindra Powerol and Spares Business, Mahindra & Mahindra said that it is a green genset as it emits zero smoke and particulate matter and has a significantly lower noise level.

Record vehicle sales in FY18 puts India ahead of Germany

The passenger vehicle segment, like the two-wheeler industry that fires on all cylinders, crossed the 3-million sales mark for the second year in a row, backed by rising demand of utility vehicles.

Significantly, all the vehicle segments such as passenger vehicles, commercial vehicles, three-wheelers and two-wheelers have done well in the last financial year.

Except for the passenger vehicles (7.89 per cent), all the other segments have notched double-digit growth

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