SBI Offers Car Loans on Reduced Rates
State Bank of India will be launching a new car loan scheme 'SBI Ezee' for financing new cars on July 1. As per this scheme, SBI will charge interest rates as low as 8 percent for the first years of the car loan repayment tenure.
According to this new car buyers can get loans at reduced rates of 8 percent per annum and 10 percent fixed interest rate for the second and third year. The interest rates would be reset from the fourth year at the card rate from the date of sanction of loan. The new interest rates would depend on the tenure of loan.
The card rates on SBI car loans are 0.25-0.75 percent below the bank's prime lending rates (PLR). The SBI Ezee car loan scheme will attract waiver of the full processing fee, during the scheme period.
As per reports in the leading financial daily, the new scheme would make car loan EMI cheaper than ever before. On a loan of Rs 1 lakh the EMI would be as low as Rs 1,559 in the first year and Rs 1,647 in the next couple of years.
[Via: carazoo]
Nissan plans on dominating the ZEV market
While many auto makers are in the process of making zero emission vehicles, none has entered the market in a big way. Nissan is hoping to dominate this market by rolling out 100,000 cars every year when it starts production in its Tennessee plant in the US. According to Nissan, the market will see ZEVs as early as next year but in 2012, there will be a lot more vehicles available.
Toyota, GM and Honda are planning more fuel efficient vehicles and they will be Nissan's big rivals. Nissan has already set the ball rolling by applying for U.S. government financing to aid it make electric vehicles and develop the advanced batteries that power them.
The company has already signed 27 initial agreements with various governments and agencies to help finance and meet its goals. It is well aware of the global recession that has particularly affected auto makers and is in no hurry. It hopes to sell 3.08 million vehicles in the current fiscal year to March 2010, down 9.7 percent year-on-year, so it is well in tune with reality. However, it is also aware that the future lies in pollution free (or fuel efficient) vehicles.
[Via: wheelsnews]
Hyundai Sonata YF Interior Spy Shot
Hyundai Sonata YF Interior Spy Shot
[Via: hyundaiblog]
2010 GMC Terrain priced from $24,995
When the 2010 GMC Terrain begins rolling out of General Motors' CAMI assembly facility in Ingersoll, Ontario and into dealerships this September, the new CUV will be clutching a $24,999 sticker price (including a $745 destination charge). For that sum, buyers will get GM's latest direct injected four-cylinder engine, in this case displacing 2.4-liters and producing 182 horsepower and 174 pound-feet of torque.
Perhaps more importantly, this engine manages to deliver an EPA-estimated 32 miles per gallon on the highway, a class-leading figure. Also available will be a 3.0-liter direct injected V6 engine with 264 horsepower and 222 pound-feet of torque, a GPS navigation system and a rear-seat DVD infotainment system. The least expensive all-wheel-drive model will go for $26,745.
Standard safety equipment includes six airbags, StabiliTrak vehicle stability control and GM's excellent OnStar service. On the technology front, every GMC Terrain will come equipped with a rear-view camera system, six-speaker AM/FM/CD audio system with USB connectivity and XM satellite radio. Stepping up a few notches to the top-rung SLT2 trim will bring leather seating surfaces, an upgraded sound system from Pioneer, power liftgate and a sunroof for $29,995.
[Via: wheelsnews]
Yamaha introduces racing kit parts to Indian customers
Yamaha has launched a range of exclusive racing kit parts by for its customers. Built by Yamaha Engineering Corporation and specialist firm, Daytona in Japan, these parts are exclusively for racing purpose in a closed circuit only.
The parts include race ECU, high lift cams, full exhaust system, special alloy sprockets, adjustable back steps and braking parts like big diameter petal disc brakes, master cylinder, and stainless steel hose. These parts will be available to customers by September this year."
Mr. Sanjay Tripathi, Division Head Product Planning & Brand Management, India Yamaha Motor said, "Racing kit parts are developed using valuable experience gained from Moto GP & World Superbike racing and Yamaha wants to provide its customers in India with the same thrill and feeling of racing instinct. Also with the launch of these kit parts we want to encourage safe racing culture in India.
[Via: autocarindia]
1000 Honda Jazz Booked In 1st Week!!
Honda Jazz has managed to get 1,000 bookings within the first week of its launch. The Honda Jazz is being manufactured at Honda's facility in Greater Noida, U.P. with localisation level of 77%, to be scaled up in phases.
Bookings for the Honda Jazz have been a runway hit at the company's vast distribution network of 105 authorised dealership facilities, across the country. Honda India has already expanded and strengthened its dealer network in preparation for the launch of the Jazz and this network is likely to go up to 112 facilities by the end of the current financial year.
Sold successfully in over 130 countries with cumulative sales of more than 2.8 million units, the Honda Jazz has won over 40 international awards. The 2nd Generation Jazz was awarded the Japan Car of the Year making history by winning the same award as the 1st generation model. The car has earned the best-selling position in Japan in 2008 and is the latest benchmark of Japanese car market.
[Via: motorbeam]
Hyundai Elantra: 1-millionth car destined for African market
Hyundai Motor Company, South Korea's largest automaker, reached the milestone of one million exports to Africa. With the latest shipment of Elantra models bound for Egypt at the Ulsan port, Hyundai's total exports to Africa reached one million units. Hyundai achieved this feat in 33 years following the first export of 26 Pony units, its first own model, to Liberia in 1976.
It took Hyundai 29 years to pass the 500,000 export milestone, reached in 2005. However, Hyundai realized the second half million in just 4 years, testament to Hyundai's rapid growth in Africa.
Major importing countries in the region that contributed to the record sales include Egypt, South Africa, Algeria, Morocco and Nigeria. In Egypt especially, Hyundai sold 53,153 units and proudly sits as the No.1 brand (26.4% market share). Meanwhile, to strengthen its marketing potential in the region, Hyundai opened its Africa Regional Office in Cairo, Egypt in November 2008.
[Via: Hyundai]