Geely to invest £586m in Volvo
Geely will invest £586 million (Rs 3,990 crore) of operating capital into Volvo when its purchase is complete, its chairman has announced. Geely chairman Li Shufu made the announcement at the Beijing motor show, in a bid to dispel concerns that Volvo's position as a premium car maker would be diluted by its association with Geely, which is best-known as a low-cost car maker. "After the takeover, Geely and Volvo are brothers instead of a father and son," said Shufu. "Geely will not produce Volvo cars. Volvo will not make Geely cars."
Ford entered into a definitive agreement to sell Volvo and related assets to Zhejiang Geely Holding Group in a $1.8 (Rs 8,100 crore) billion deal last month. Following the agreement, the sale is expected to close in the third quarter of 2010, subject to approval from governments around the world. Geely will own Volvo outright, with Ford retaining no shareholding in the company. However, Ford will continue to supply Volvo with powertrains, stampings and other vehicle components for unspecified periods. As part of the sale, Ford also has committed to provide engineering support, information technology, access to tooling for common components, and other selected services for an unspecified transition period.
Ford and Geely have also established protocol agreements to govern the use of intellectual property; these agreements will also allow Volvo to grant sublicenses to certain portions of Ford's intellectual property used by Volvo to third parties, including Geely. The IP deals are expected to last the length of Volvo's current product cycle.
[Via: AutocarIndia]
Yamaha FZ Series Gets New Shades
Yamaha India is introducing new color schemes and graphics to add more zing to the FZ16 amd FZS . The company will communicate both FZ16 and FZ-S under a single style statement - Stylish Macho. The FZ series are very popular amongst youngsters and have been a prized possession of more than 1 lakh happy customers. In 2009 fiscal, the company sold 85,000 units of FZ16 and FZ-S, contributing to 40% of total sales volume.
The new FZ-S will be available in Black Cyber Green, Silver Tech and Sport Electric Blue colors while new FZ16 will come in Lava Red and Midnight Black. The all new graphics and change in the color of some body parts will compliment the overall macho expression of these bikes. Further, Yamaha has incorporated new logo which will give these bikes more masculine feel. These bikes will be BSIII emissions regulations compliant. The new FZ-S will be available at a price of Rs. 67,000/- while Yamaha FZ16 is priced at Rs. 65,000/- (ex-showroom, Delhi).
"With the refreshed versions of FZ16 and FZ-S, we want to strengthen our presence in the highly competitive 150cc+ segment and increase our share from 12% to 20% by year-end. We have kept the essence of FZ series bikes intact while altering the aesthetics to exemplify the masculine feeling these tough machines are known for. The stylish graphics will take the street fighter image to its next level," Mr. Koji Arai, Director and Chief Sales Officer, Yamaha India, said.
[Via: Motorbeam]
Bridgestone To Set-Up New Plant
Bridgestone India has revealed plans to set up a new manufacturing plant in Maharashtra. The tyre maker plans to acquire 770,000 square metres of land at the Chakan Industrial Area near Pune. According to managing director Hiromi Tanigawa, the new facility will begin production of passenger car radial tyres (PSR) and truck and bus radial tyres (TBR) in response to the growing demand of those tyres in India, which is seeing marked economic growth.
The total investment is expected to be around Rs 2600 crores in a phased manner. While PSR production is scheduled to begin in January 2013, TBR production will commence in August 2013. By 2020, the company's production capacity is slated to reach 10,000 units of PSR and 3,000 units of TBR per day. The Pune plant will be Bridgestone's second tyre making plant in India. It already has one plant at Pithampur near Indore, which produces PSR tyres and plans to start the production of TBR tyres there in 2011.
[Via: AutocarIndia]
Porsche Recalls Panamera
Porsche is recalling certain 2010 Panamera S, 4s and Turbo 4-door sedans and this is not for being ugly. If the front seats are adjusted towards an extreme position, resulting in unfavorable tolerance of the mating components, it is possible that the function of the locking mechanism of the seat belt mount can no longer be guaranteed.
The seat belt mount could detach from the anchoring system when the seat belt is fastened or opened. In the event of a crash, the seat belt may not provide adequate protection for the seat occupant, which may increase the risk of injury or death. Dealers will have an additional locking element installed on the seat belt anchoring system for both front seats. This service will be performed free of charge. The manufacturer has not yet provided an owner notification schedule.
[Via: AutocarIndia]
Honda CB Dazzler To Be Launched On 8th May
Honda India is going to launch the CB Dazzler on 8th May, it will be a sportier and premium version of the Unicorn. CB Dazzler features well executed tank scoops, side body panels, dual tone styling, new clear lens tail lamp and heat shield. CB Dazzler is not much bulky and not very thin. Tank shrouds are designed in such a way that it blends smoothly with the concept that this new version of Unicorn is exclusively meant for sports. The dual tone styling of CB Dazzler will attract more people towards it. This dual tone styling will give the vehicle a sporty look.
Main Styling Elements of Honda CB Dazzler
- New front cowl
- Stunning rear tail lamp
- Attractive tank shrouds
- Dual tone styling
- Split grab rail
- Digital Sppedometer
- Analogue Tachometer
- Digital Fuel Gauge & Trip Meter
CB Dazzler will score high on style and features to attract the younger crowd, who gravitate more towards the stylish and sportier Bajaj Pulsar and TVS Apache. CB Dazzler is expected to cost around 10,000 rupees more than the current CB Dazzler which comes to around 75,000 rupees.
Yamaha India Targets Entry Level Segment With YBR 110
Motorcycles manufacturers in India are rushing to cash on the potential of entry-level segment (100-110cc bikes) accounting for 70% of the total motorcycle sales in India. With the launch of new models, pricing has become competitive and currently hovers in the Rs 40,000 range. Even as, with changes in perceptions, lifestyles and increasing affordability, many customers are upgrading to premium levels, the entry-level segment motorcycles continues to offer huge growth potential. Almost half of motorcycle sales today are coming from price-sensitive rural markets and increasing disposable incomes in semi-urban and rural areas have made this segment as the next frontier of growth for bike manufacturers. Whether the reasons are the conservatism of the average commuter bike buyer or fuel-efficiency, the 100cc mass commuter bike segment will continue to witness lots of action in the near future.
Motorcycle companies in India are wooing customers by launching new bikes that are not only competitively priced, fuel-efficient but also stylish. This time Yamaha India has penetrated into the entry level segment and has recently added the YBR 110 in its existing portfolio. YBR 110 comes is targeted at middle income class people who want to have a comfortable commuter bike. It has an electric start engine, graphics, ergonomic seat design, decent handling and is very competitively priced at Rs. 41,000/- (ex-Showroom, Delhi). It is worthwhile to mention that it was Yamaha that introduced RX100 which enjoyed a cult status among the youth for almost a decade during 80s and 90s. However don't expect similar performance as the RX series here. The company is focusing on increasing existing network strength in tier-2 and tier-3 cities and sub-dealers in rural areas to get closer to the target customer base.
[Via: Motorbeam]
Mercedes India Launches C-Class Executive Edition
Merecdes-Benz India has launched the Executive Edition of C-Class to compete with the likes of recently launched BMW 3 Series Corporate Edition. Like BMW has done with the 3 Series, Mercedes has also removed many features from the C-Class to price it very competitivel.
Following features have been removed from Mercedes C-Class Executive Edition:
- Electric Sunroof
- Anti-theft Package which includes internal motion sensor & tow away protection
- Paramatric Steering Wheel
- Multifunctional Steering Wheel
- Leather wrapped gear selector
- Xenon Headlamps
- Parktronic sensors
- LED turn indicators
Merecdes India has priced the C-Class Executive Edition very competitively at Rs. 30,50,000.00 on road Mumbai.
[Via: Cars India ]
Porsche 918 Spyder buyers line up
There are almost 900 Porsche 918 Spyder hybrid prototype buyers already lined up, according to reports. Porsche unveiled the 918 Spyder at the Geneva motor show last month, and will give the car the production go-ahead once it has 1000 pledges of interest, Porsche's development chief, Wolfgang Duerheimer, told the Bloomberg news agency.
"I'm confident that we will soon reach the threshold of 1000," said Duerheimer. "We need 1000 seriously interested people to make a sound business case."
Duerheimer also confirmed that Porsche's product strategy for the medium term will be confirmed in the next six months, after talks with VW on platform and parts sharing were complete. "We're very optimistic that we'll be able to further expand our leading position in the sports-car segment," he said.
The 918 Spyder is powered by 493bhp V8 engine and electric drive-systems allowing the vehicle to go up to 15.6 miles on electric power alone.
[Via: AutocarIndia]
Hennessey Venom GT Headed To India
Hennessey Performance Engineering has contracted DiMora Motorcar to be the exclusive distributor in the Middle East and India for the new Venom GT and other vehicles from the company. The Venom GT is based upon the Lotus Elise and combines a high-tech, lightweight British chassis with a American mid mounted 6.2 liter LS9 V8 twin turbo-ed engine from GM. Power will be available in either 725, 1,000 or 1200 horsepower variants (depending on how much you need or how much you can tame). Prices start at $600,000/- Production is limited to just 10 vehicles per year and the company already has orders for 4 Venom GT's.
Hennessey plans to manage power output by using a programmable traction control system. CFD (computational fluid dynamic) tested bodywork and down force will also help keep the Venom stable at speed. An active aero system with adjustable rear wing will deploy under varying conditions on both the road and racetrack. An adjustable suspension system will allow ride height adjustments according to speed and driving conditions. Finally, power will be put to the ground via massive Michelin PS2 tires at all four corners.
Maruti Q4 Net Rises By 170 Per Cent
Maruti Suzuki India has reported a jump of 170 per cent in its net profit for the fourth quarter ending March 31, supported by the 21 per cent rise in sales. The results, however, fall short on the industry projections, as rising prices of raw materials, upgradation to new BS IV norms, and adverse foreign exchange movement affected the company's margins. Maruti Suzuki's net profit for the quarter stands at Rs 656.6 crore as against Rs 243.1 crore in January-March 2009. The total income for the period was Rs 8,503.5 crore, up by 30 per cent over the same period in 2009.
"Last year was a landmark year for the company as we achieved the milestone of producing and selling more than 10 lakh cars in a single year," said Shinzo Nakanishi, CEO and MD, MSIL. "Though competition is intensifying, we are firmly positioned to leverage our advantage in making fuel efficient low maintenance cars and we believe these will continue to play a big role when a customer goes to buy a car." Maruti's operating margin fell down to 13.5 per cent during the quarter compared to the 15.5 per cent during the previous quarter (October - December 2009).
"All indications are that the sales will continue to grow in 2010-11 but it will not be as high as last year," said Mayank Pareek, executive officer, MSIL. "In the last five years the industry has grown at an average of 13.5 per cent and last year's growth came after a flat year." For the entire year of 2009-10, Maruti's net profit shot up by 105 per cent to 2,497.6 crore, while the total income went up by 40 per cent to Rs 30,119.7 crore. Led by A-Star and Ritz, total sales rose by 29 per cent to 10.18 lakh units.
[Via: Carazoo]