Harley Davidson gets loan extension
The complete repayment date for US-based bike maker's loan of $500 million was set on March 31st '09. Harley Davidson got a breather as the $500 million loan originally set to expire on March 31 and requiring repayment in full was extended to March 17, 2010.The company stock rose as news spread. The US cult bike maker received the loan on Dec. 12 from a group of lenders that included JPMorgan Chase.
Harley Davidson finances motorcycle sales through its finance arm and then sells securities backed by the loans to investors. As no one is buying those securities in times of recession, the news of loan extension came as a real breather for the company.
We are sure that the global melt-down will gradually come to an end, meanwhile motorcycle manufacturers needs spend smart and run lean. All of us bike lovers want the motorcycle industry to be rock steady and any positive news for the industry is good news for us!
[Via: Bike]
Ford to launch Endeavour Automatic
As Toyota gears up for the launch of Toyota Fortuner, Ford plans to defend by launching an automatic variant of its hardcore SUV - the Endeavour. Ford Endeavour currently comes with 2.5L and 3.0L engine option (Thunder+). Both the engines sports 5-speed manual transmission.
Ford's five-speed automatic transmission system features an innovative Transmission Control Module (TCM) that can automatically detect and quickly adjust to the changing engine speed and driving condition. It keeps the transmission system always at its peak power band, thus making the vehicle more responsive.
Such acceleration rate continuity makes it perfect for both urban and highway driving as well as off road while providing the best possible fuel economy.The 5-speed automatic transmission which perfectly compliments its new powerful "Duratorq" new generation common-rail engine giving the vehicle extra fuel economy and a more smoother acceleration rate.
Along with the 5-speed automatic transmission, Ford may also equip the endeavour with Borg Warner's Shift-on-the-Fly system. The active-Shift-on-the-Fly mechanism. will enable you to switch between 2wd and 4wd up to 100kmph. Both the Endeavour and Endeavour Thunder+ is expected get the autobox and we expect the price to go up by Rs50,000.
[Via: Vicky]
Brabus kits up the New 2009 Mercedes-Benz E-Class
Brabus kits up the W212 Mercedes-Benz E-Class....
No Geared Scooters from Honda
Honda has decided to quit the geared scooter segment in India. It will phase out its Eterno 150cc model this year. The company will not focus only on the gearless scooters and establish its brand value in the gearless scooter segment. "We will stop producing Eterno. We will not stay in this segment (geared scooter). Eterno will be phased out," HMSI President and CEO Shinji Aoyama.
Honda currently has Activa model in the gearless scooter segment currently priced at Rs. 39,800. It launched the latest and upgraded model new Activa yesterday in India. The new scooter comes with new front and rear section. The new activa is powered by 109cc 4-stroke engine pumping out 8bhp at 7500rpm and 0.9Kgm at 5500rpm.
It has reduced tank capacity of 5.3 litre and sports a new braking system. The vehicle comes to complete halt even with one brake. This is good for those who are uncertain which brake to use to stop the vehicle completely. The CBS system applied front braking as well whenever the rear brake is applied. The new activa comes in two variants - Activa standard and Activa deluxe.
[Via: cartradeindia]
Hyundai Ties Up with Corporation Bank for Auto Loans
Hyundai Motors India Limited signed MoU with Corporation bank and Bank of India to enhance financing options for its cars. Under the MoU, Bank of India, a premier nationalized bank, will be financing prospective buyers to acquire Hyundai cars at an attractive rate of interest of 10.25% for 3 years and concessional processing charges (Rs.1,000/- flat).
On the other hand it also signed MoU with Corporation Bank for financing the purchase of the cars manufactured by HMIL. The bank's general manager M P Kunju and HMIL senior vice president (Marketting and Sales) Arvind Saxena signed the MOU in Mangalore on March 25.
The tie-up provides for the additional facility of car loans for Hyundai customers, from Corporation Bank. The bank will be financing these cars under its 'Corp Mobi' scheme that offers attractive interest rates. All branches of the bank from across the country will be covered under this tie-up arrangement.
[Via: cartradeindia]
Maruti To Take On Nano With Alto
Maruti Suzuki could slash the price of its largest selling model, Alto, as it looks to take on the Nano, the world's cheapest car. The Alto, whose entry model costs Rs 2.3 lakh, might not be priced as low as the Nano, but will see"a significant price reduction.
The decision to pit its best-selling model against the Nano is a major strategy shift for Maruti. The market leader was expected to cut prices of the M800 to counter the Nano. But Maruti has decided that it's too expensive to upgrade the M800 to meet the Euro 4 emission norms.
However, any cut in Alto prices will not be immediate and Maruti will wait to launch a full frontal battle only after Nano volumes gain critical mass. This can happen only in 2010, when the Nano mother plant at Sanand in Gujarat goes on stream. Until then, Tata Motors is likely to produce only 3,000-5,000 units of the Nano every month from its plant at Pantnagar in Uttarakhand.
A Maruti spokesman did not confirm or deny the plan, only saying, "We don't comment on our product plans." In 2010, 11 cities in India will embrace Euro 4, and the M800 will be phased out from these markets. As the rest of the country moves to the new emission standard, the M800 will slowly be phased out countrywide. The M800's Euro 4 non-compliance is the reason why Maruti has to pit its best-selling model against the Nano, slated to be launched on 23rd March.
India's largest-selling model, the Alto standard, is priced at Rs 2.3 lakh. It has an 800cc engine, no AC and no power steering. The Nano standard version has a 624cc engine, but is expected to be priced Rs 1.2 lakh lower. Maruti sells around 2 lakh units of the Alto a year on an average. Alto sales recently crossed 1 million units.
[Via: cartradeindia]