Indian Auto Industry Update

22 March 2017

IndustryGovt extends FAME-India scheme to promote electric vehicles

Dealers to register vehicles within seven days in Indore

Gujarat govt approaches HC for purchase of heavy diesel vehicles

BS VI to put very significant economic burden on automakers: SIAM

Swiss Finance Corp sells shares in Tata Motors DVR

Interviews & FeaturesTata Tigor Review: On the footsteps of Tiago

Starting Young

What more does the Tata Tigor offer over the Tiago?

Cars, SUVs, MUVsMaruti Suzuki set to cross 15 lakh production milestone this fiscal

Maruti beats PV industry in growth clip for 5th consecutive year

Honda Cars India hikes prices by up to Rs 10,000 across its product range baring WR-V

Six Maruti models among top 10 best-selling PVs in February

Nissan looks to revive India sales under Datsun brand

GM's Halol workers on hunger strike, demand better VRS, jobs by SAIC

Honda to export its latest product WR-V to Brazil

Honda Cars plans to relaunch Civic

Luxury CarsMercedes-Benz partners Grow Trees to promote afforestation

Porsche 718 Boxster: Smaller engine, exceptional sports car

Commercial VehiclesCommercial vehicles to pay tax to enter Chandigarh

Construction & Agri Machinery2/3 Wheelers

Bajaj Group to open its first engineering college in Nagpur

TVS Motor's bikes to get new antilock brake system with grant of patent

Big boost for TVS Motor, gets patent for new anti-lock brake system

Hero hands over 50 scooters to Gurugram women police under project ‘Sakhi’

E-BikesComponents

ACDelco introduces Cabin Air Filter at ACMA Automechanika

PPAP Automotive appoints Abhishek Jain as CEO, MD

Allied IndustriesKotak Institutional raises target price on tyre maker Balkrishna Industries by 28%

Repair bike to give mileage as advertised: Court to TVS Service Centre

JK Tyre among 13 cos awarded for using green manufacturing practices

Tyre stocks likely to be next segment within auto ecosystem to see re-rating

Emissions / EnvironmentFinance & Insurance

3-year third-party insurance premium at car registration?

Oil, Lubricants & Alternative FuelsHindustan Petroleum to use Honeywell technology for its refinery expansion

Berkshire's Lubrizol to take majority stake in India joint venture

Auto LPG body calls for gas price parity

Oil prices fall on bloated U.S. crude storage

Revival in car sales drives up crude bill

News MagazinesJaguar F-Pace SVR under development

Jaguar F-Type GT4 racer in the works

Mercedes S-class facelift to get autonomous tech

Volkswagen develops virtual tech to speed up car design

International NewsPolaris Industries to recall about 19,200 ATVs

BMW says UK remains important but Brexit uncertainty looms

BMW CEO expects China to clarify electric car policy in next weeks

BMW Group to launch 40 new and revised models in next two years: Chairman

Fiat Chrysler boss says "waiting in anticipation" to meet Volkswagen chief

Porsche has no information about Ferdinand Piech's stake sale talks

Ferdinand Piech exit only small step to Volkswagen governance revamp

BMW aims for slight increase in profit in 2017

Locamerica buys Auto Ricci to create fleet rental firm in Brazil

Panasonic to take control of Spanish auto parts maker Ficosa

Rumors that hedge fund Elliott has bought Hyundai Motor stake not true

Volkswagen Group global sales decline marginally in February 2017

China's Geely set to post earnings jump as Volvo tech boosts sales

New connected services introduced on Volvo XC60

Haute new metal revs up the competition at Geneva

EconomyRupee rallies to 17-month high, up 6 paise at 65.30

India Inc borrows $2.23 bn from foreign sources in February 2017

Sensex, Nifty50 end flat after choppy trade

ClosingLast Financial Closing...

Industry

Govt extends FAME-India scheme to promote electric vehicles PTISee this story in: The Economic Times (Web Edition)

New Delhi: The government has extended demand incentives worth Rs 127.77 crore for purchase of over 1.11 lakh electric andhybrid vehicles under the FAME-India scheme.

"Under FAME-India scheme of the government, Department of Heavy Industry has extended demand incentives at Rs 127.77 crorefor purchase of 1,11,897 electric/hybrid vehicles since inception of the scheme on 1 April, 2015 till February, 2017," Minister of Statefor Heavy Industries and Public Enterprises Babul Supriyo in a written reply to the Lok Sabha.

The FAME-India (Faster Adoption and Manufacturing of (hybrid &) Electric vehicles in India) scheme is proposed to be implementedover a period of 6 years, till 2020, wherein it is intended to support the hybrid/electric vehicles market development and itsmanufacturing eco-system to achieve self-sustenance at the end of the stipulated period.

The scheme has four focus areas, technology development, demand creation, pilot projects and charging infrastructure.

The Phase-1 of the scheme is being implemented over a two year period commencing from April 1, 2015 with approved outlay of Rs

795 crore.

"Based on the outcome and experience gained in the Phase I (2 years), the scheme shall be reviewed appropriately with inputsfrom stakeholders and shall be considered for implementation post 31st March, 2017 with appropriate allocation of fund in thefuture," Supriyo said.http://auto.economictimes.indiatimes.com/news/policy/govt-extends-fame-india-scheme-to-promote-electric-vehicles/57752389

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Dealers to register vehicles within seven days in Indore The Economic Times (Web Edition)

Indore: With amendments being introduced to the Motor Vehicles Rules, the government is going to make it compulsory forautomobile dealers to complete registration-related formalities within seven days of the vehicle being sold.

Besides this, the government is also going to levy a fine on dealers if they fail to comply by this compulsion.

“Automobile dealers will have to register sold vehicles within seven days or else a penalty will be levied,” said MPSingh, regional transport officer of Indore. He added that the penalty would be 15 per cent of the base price of the vehicle sold andwould be collected from dealers in case of any delay.

“This fine would be approximately the same tax that would be paid on the vehicle during its lifetime,” said Singh. Alsopenalty would be levied on dealers if they provide wrong or false information of customers, he added.

Officials said that as of now, there is no compulsion on dealers as far as the vehicle registration process is concerned. Once thevehicles are sold, the complete liability falls on the buyer.

“Sometime they deliberately delay sending the required documents to register vehicles,” officials said. They addedthat as a result, payments on road taxes are also delayed.

However, some dealers claimed that documentation for registrations are done on time and that the issuing of vehicle numbers fromthe RTO is what actually takes time. “This increases the documentation work of automobile dealers,” said one carseller.http://auto.economictimes.indiatimes.com/news/industry/dealers-to-register-vehicles-within-seven-days-in-indore/57750743

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Gujarat govt approaches HC for purchase of heavy diesel vehicles The Economic Times (Web Edition)

Ahmedabad: Following in the footsteps of Ahmedabad Municipal Transport Service (AMTS), the state government on Mondayapproached the Gujarat high court against the direction of the National Green Tribunal (NGT) in New Delhi to the Gujaratgovernment and its arms to not buy heavy diesel vehicles without its permission.

On February 16, the NGT restricted the purchase of heavy diesel vehicles in response to an application by one Mushtaq Qadri, whocited the high court’s order to the state government to make all vehicles plying in Gujarat switch to natural gas to curb airpollution.

The state government could not file a reply to the NGT’s notice for a transfer of Qadri’s application from theNGT’s Pune bench to the principal bench in New Delhi. The NGT, however, has said it would decide on the preliminary issueof jurisdiction later.

AMTS and Gujarat State Road Transport Corporation (GSRTC) prayed for the high court to quash the NGT order on the grounds ofjurisdiction. They claimed that the Pune bench has the jurisdiction for issues pertaining to Gujarat, and without deciding onjurisdiction, the NGT in New Delhi ought not to have imposed any restriction on the purchase of diesel vehicles.

GSRTC plans to buy 1,600 diesel buses. AMTS has also hired 300 diesel buses since 2014, on the grounds that running dieselbuses is more cost effective than CNG buses.

A bench headed by Chief Justice R S Reddy will hear the issue on Thursday.

Interestingly, the state government is knocking on the court’s door for permission to buy diesel vehicles after havingaccepted the HC order banning heavy vehicles using fuels other than natural gas, to reduce pollution. It never questioned the HCorder and the one year’s time granted for the government to implement the order lapsed a long time ago.

After having accepted the HC order for all gas-run vehicles in Gujarat, the government is now defending the use of diesel for heavyvehicles. It claims that the Bharat State EURO-IV emission standards for heavy duty vehicles and engines for PM (particulatematter) are computed at a level of 0.02, which is perfect for keeping pollution under control, according to the Centre.

AMTS has got a fleet of 913 buses, out of them 308 buses are having EUROIV diesel standard. It has 66% buses running on CNG,but AMTS is fed up with CNG buses.

It tells HC that CNG buses have “much more difficulties with respect to its purchase cost, maintenance, break down and life

span…maintenance and other cost with respect to the CNG buses are much more in comparison to the diesel buses. Onfinancial aspects also diesel buses are more effective then CNG buses”.

This has led AMTS to hire 300 diesel buses since 2014, even after HC passed order for only gas-run vehicles in Gujarat.

In April 22, 2016, the state government made its stand clear that it prefers diesel over CNG to reduce pollution. In an affidavit beforethe high court, it cited a study report of Indian School of Petroleum and Energy to highlight how diesel engine technology isimproving day-by-day.

It also cited a comparative study on CNG versus low-sulfur diesel engines by the Mashelker expert committee, which said thatdriving a “CNG vehicle for one mile emits 20% more greenhouse gases than driving a diesel vehicle for one mile. From theperspective of global warming, the decision to switch to CNG from diesel is a harmful one. CNG vehicle emit 80% less particulatematter and 35% less hydrocarbons. However, the output of carbon monoxide is five times greater than diesel”.

The government also said that if CNG is used, there is a reduction in particulate matter but other pollutants show a considerableincrease. In fact, there is considerable increase in the emission of greenhouse gases in actual driving conditions.

A survey report placed before the court in 2015 by the state government was surprising as it gave a clean chit to all vehicles olderthan 10 years after checking by state authorities, because all were found to be in good condition and were conforming to the norms.

The HC pulled up the government and said that the report was not bankable and ordered the GPCB, RTO and various otheragencies to conduct an extensive survey to find more about the emission levels of diesel vehicles that are 10, 15, 20 and 25 yearsold.http://auto.economictimes.indiatimes.com/news/commercial-vehicle/mhcv/gujarat-govt-approaches-hc-for-purchase-of-heavy-diesel-vehicles/57750631 

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BS VI to put very significant economic burden on automakers: SIAM PTISee this story in: The Economic Times (Web Edition)

New Delhi: The government today said it has been informed by automotive industry body SIAM that the 'economic burden' oncompanies for moving to BS-VI emission norms will be very significant.

"Society of Indian Automobile Manufacturers (SIAM) has informed that the economic burden for moving to BS-VI emission norms forautomobile manufacturers would be very significant," Minister of State for Heavy Industries and Public Enterprises Babul Supriyosaid in a written reply in the Lok Sabha.

According to SIAM, many new technologies would have to be developed and these technologies would have to be used in vehiclesfor meeting the requirement of BS-VI emission norms, thereby putting enormous economic burden.

The Ministry of Road Transport & Highways through a notification dated September 16, 2016 mandated mass emission standard forBS-VI throughout the country with effect from 1 April, 2020 to bring down emission level.http://economictimes.indiatimes.com/industry/auto/news/bs-vi-to-put-very-significant-economic-burden-on-automakers-siam/articleshow/57752297.cms

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Swiss Finance Corp sells shares in Tata Motors DVR PTISee this story in: Daily News & Analysis (Web Edition)

A foreign institutional investor sold shares worth Rs 184 crore in Tata Motors DVR.

Swiss Finance Corporation (Mauritius), one of the public shareholders of Tata Motors DVR, sold 64,81,660 shares to Merrill LynchMarkets Singapore Pte, according to the bulk deal data available on the BSE.

These shares are valued at Rs 184.46 crore, with the average price being Rs 284.6 per scrip.

Merrill Lynch Markets Singapore Pte sold 2,000 shares of Tata Motors DVR at a sum of Rs 5.70 lakh. However, the buyer could notbe ascertained.

Tata Motors DVR settled for the day at Rs 285.05 on BSE, down 1.26 per cent from the previous close. It had touched a high of Rs292.95 and a low of Rs 283.20 during the intra-day trade.http://www.dnaindia.com/money/report-swiss-finance-corp-sells-shares-in-tata-motors-dvr-2362546

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Interviews & Features

Tata Tigor Review: On the footsteps of Tiago The Economic Times (Web Edition)

India's largest automaker by value Tata Motors is all set to crack the sub-4 metre alias sub-compact sedan for the third time withTigor. Earlier, the company has tried to crack the code of this segment with Indigo CS and Zest.

In fact, Tata Motors was the first company to enter the segment with Indigo CS 2008 just after the excise duty redemption wasannounced in 2007. With Tata Tigor, the company is quite confident and expects to witness the similar level of success whichcurrently its Tiago is bringing.

The ProductTata Tigor is primarily targeted to the customers who want to upgrade themselves from the hatchback segment. Also, the companysees a large potential in women buyers. Tigor is the third product from the stable of Tata Motors' Impact design language afterTiago and Hexa.

The new sub-compact sedan is pitted against the likes of Maruti Suzuki Dzire, Hyundai Xcent, Honda Amaze and VolkswagenAmeo. Also, customers opting for premium compact hatchbacks like Maruti Suzuki Baleno and Hyundai Elite i20 might considerTata Tigor because of its notchback design.

The company is quite confident that Tigor will follow the footsteps of Tiago in the Indian car market. We spent two days with TataTigor to check how it fairs in terms of design, performance, space and utility.

Tata Tigor ExteriorsTata Tigor fairs very well in terms of exterior design. On the road, it will surely catch the attention of the other drivers but not really ahead turner from the front as it looks similar to Tiago. The only distinct points where it can be differentiated from Tiago is thedual-coloured bumper, and smoked headlamps. But, the rear view design is noticeable and quite attractive.

The sharp LED tail lamps split between the boot and the fender. Also, the large chrome bar seamlessly flows into the rear lampsgiving it a more larger rear. Apart from this the roofline easily merges to the boot giving the car notchback look.

From the side, Tigor doesn't look like a box but the boot seamlessly integrates with the car. Also, the side character line flows till therear which gives a better look from the boxy design.

The large doors of Tigor make the entry and exit of passengers easy, and the large rear windows give a roomy feeling inside thecabin. The 16-inch diamond cut alloy wheels give a good stance to Tigor. However, the 16-inch alloys are available only in thetop-end trim of petrol model while the diesel top-end variant gets 15-inch alloy wheels.

Tata Tigor Exterior RatingsFront Design: ***Rear Desgin: ****Side Profile: *****Alloys: *****

Tata Tigor InteriorsInside the cabin, Tigor feels roomy and spacious. However, the dashboard has been carried straight from sibling Tiago with minortweaks. The quality of plastic used is not of much good quality but at the same time, the fit and finish of the material gives apremium feel.

In terms of space, Tata Tigor is spacious as it can easily accommodate five passengers without any hassle. Having a large wheelbase of 2450 mm, Tigor gives enough leg room, knee room and head room even for the passenger with a height of about 6-feet.Seats are equally comfortable as the back support and under thigh support are spot on with right cushioning.

The driving position, which can be adjusted through the seat and steering, gives the full view of the road, thereby making it an easydrive. Apart from this, the car has two cup holders between the driver seat and passenger seat, and all the doors are equipped withbottle holder; making it close to 24 utility spaces. Furthermore, it also gets customisable air vents which can be matched with theexterior colour.

On the feature side, the top-end variants of Tigor gets steering mounted control for music and calls. Moreover, it gets a connectNexttouchscreen infotainment system by Harman with 8 speakers (2 speakers + 2 tweeters in Front and 2 speakers + 2 tweeters inrear). It also gets AUX and UBS ports with Bluetooth connectivity. Despite the best quality sound and feature-rich cabin, Tata Tigormisses on the touch screen infotainment system which most of the car's competitors has. The other thing which is worth mentioningis the locking system; Tata Motors has used the traditional lever to open the doors which looks quite outdated.

Tata Tigor Interior RatingsSpace: ****Comfort: *****Infotainemnt: *****Head Room, Leg Room & Knee Room: ****Feature: ****

Tata Tigor Performance & Drive QualityTata Tigor comes equipped with two engine options - 1.2L, 3-Cylinder Revtron petrol engine and 1.05L 3-Cylinder Revotorq dieselengine matted with a five-speed manual transmission. The petrol variant produces 85PS@6000 RPM of maximum power and114NM@3500 RPM of torque. While driving the petrol variant, as move to 3rd and 4th gears the car gets a little aggressive.

The diesel variant feels a little punchy and responsive; it produces 70 PS power at 4000 RM and generates a torque of 140 NM

@1800-3000 RPM.

On the NVH (Noise, Vibration and Harshness) levels, the Tigor doesn't really fair well. The handling of the car is perfectly smooth,and the electric power assisted rack-and-pinion steering is very responsive, smooth and easy to maneuver on corners.

Performance & Drive Quality RatingsNoise, Vibration and Harshness: ***Handling: ****Suspension: ****Performance: ****

VerdictTata Tigor fairs well in terms of a complete package. One of the main attraction is the exterior design and well-finished interiors. It isa good city car which can easily manage the weekend gateways because of large boot capacity of 419L. If priced well, Tigor mayfollow the footsteps of Tiago Success.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/tata-tigor-review-on-the-footsteps-of-tiago/57748251

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Starting Young Nikhil BhatiaThe Hindu (Delhi Print Edition)

The last thing Maruti needed was another hatchback. But, lo and behold, it’s brought out the Ignis. It’s a car thatMaruti believes will strike a chord with young buyers looking for something out of the ordinary. To be successful the Ignis primarilyhas to do just that. It has to look, feel and drive distinct to the horde of other Marutis on our roads and also edge past thecompetition – that comes from the likes of the Mahindra KUV100 and Hyundai Grand i10 – in the areas that matter.Mahindra may market the KUV as an SUV but at its core, this is a hatchback, with a monocoque body, front-wheel drive and all.Like the Ignis, the KUV also relies heavily on its design to distinguish it from the other hatchbacks on sale. The Grand i10 is theoldest car here but it’s fresh from an update and is all the better for it. That the Grand i10 is a constant entry in the list ofIndia’s bestselling cars also makes it the model to beat.

For this comparison, we’ve considered diesel versions to include the updated 1.2-litre motor in the Grand i10. As always, allparameters will get due attention and weightage while deciding the final standings.

Inside linesOpen these cars’ doors and you’ll find a) the Ignis is unique on the inside too b) the KUV’s cabin isunexpectedly restrained in styling and c) there’s more of the neat and clean look in the Grand i10. The Ignis’ cabin ischic and, again, looks unlike any other Maruti’s. The upright dash with its high-set ‘floating’ touchscreen, theuse of toggle switches for the distinctive climate control pod and the body-coloured panels on the base of the centre console anddoor handles, all come together really well. But even if it may not look it, this still feels like a Maruti cabin. Quality levels are goodbut not great, and existing Maruti owners are sure to notice familiar bits like the power window switches that have their roots in thefirst-gen Swift. Just wish the Ignis also borrowed the Baleno’s colour multi-info display in the instrument’s binnacle;the old-school dot-matrix display looks out of place in the otherwise modern-looking cabin. The front seats could have been a tadfirmer too, but they are well contoured and hold occupants well.

While on the topic of front seats, there’s a lot to talk about the KUV. You see, Mahindra sells the KUV in five- and six-seatversions – the former features two individual chairs up front, while the latter uses a front bench seat arrangement. Sure,it’s possible to sit three abreast on the bench seat, but middle passengers get limited legroom and there’s the biggerconcern about safety; would you want to be seated so close to the gear lever? Were it up to us, we’d opt for the conventionalfive-seat layout whose shapelier front seats offer superior comfort too. Whatever be the seating configuration, you sit high up andget a good view out, though some might find the ‘bowed’ dashboard that rises at the centre hampers visibility to someextent. The dash is smart in design and thankfully free from the overdone stylistic flourishes of the exteriors. What is unique is thepositioning of the gear lever and handbrake on the centre console itself; done so to make space for the front middle seat. While thegear lever falls easily to hand and is really nice to use, the pull-type handbrake is cumbersome to operate and simply feelsoutdated. Also, not doing the KUV any favours is the small monochrome infotainment display. Quality levels are a mixed bag too.The textured finish on the dash top feels rich but the plastics lower down aren’t quite as nice.

If there’s one area where the Grand i10 is clearly superior to the other two, it has to be in cabin quality. The Hyundai is easilythe best put together and quality levels are at par with cars from a class or two above; feel-good bits, like the leather-wrappedsteering, just enhance the ambience. As before, the Grand i10’s dash is smart and well laid-out, while the new 7.0-inchtouchscreen and auto climate control introduced with this facelift have done their bit to bring the cabin up to speed. However, thefront seats aren’t as generous in size as the other cars’ and the fixed front headrests should have been moreaccommodating for taller occupants.

Shifting focus to the rear section of the cabins, all three cars offer surprisingly good legroom for their small footprints, and eachgives rear occupants plenty of headroom too. Still, it’s only the KUV that’s really wide enough to seat three adults inreasonable comfort. Further aiding middle passenger comfort is the Mahindra’s flat (but comfortable) rear seat and flat floor.The KUV is also the only car here with a rear centre armrest and the safety of adjustable headrests for each of the three rear seats.Unfortunately, while you do sit high up, outside visibility is hampered by the plastic panel beside the rear windows that’sthere to hide the mechanism for the Chevy Beat-like high-set external door release.

Tall passengers might have their own visibility-related issues from the Ignis’ rear seat as well. Those taller than 6ft will findthat the top of the rear windows is below eye level, effectively forcing them to sit slightly crouched down to get a good view out. And

that the rear seat backrest being quite upright doesn’t help matters.

Rear passengers sit relatively low in the Grand i10 but the large windows offer good visibility. Other things to like include the nicelyreclined backrest, the inclusion of a dedicated rear air con vent and the more than sufficient legroom which is second only to theKUV’s. Sadly, though, the seat base isn’t as supportive as it should be.

All cars offer plenty of in-cabin storage but it’s the KUV that goes one up on the others with a unique concealed recessthat’s built into the rear floor. The six-seat KUV also features a hidden tray under the co-passenger’s seat. Amongstthe KUVs, it’s the five-seater that offers more space for smaller items thanks to its large central shelf between the frontseats. In terms of space for larger luggage, it’s the Ignis and Grand i10 that are closely matched for space and convenience.The KUV’s luggage bay is sizeable too but the loading lip is high and the sill is narrow. Folding rear seatbacks help increaseluggage space in all three cars but only the Ignis’ seats split 60:40.

Pot luckSee the spec sheets and you’ll know this is a competition of small cars with small diesel engines. Like all Marutis from thepast decade, the Ignis too uses a Fiat-sourced, four-cylinder, 1.3 diesel, albeit in fixed geometry turbo form that makes 74hp and190Nm. Mahindra’s indigenously developed mFalcon D75 diesel is the source of power in the KUV100. This three-cylinder,1.2-litre engine makes 77hp and 190Nm. Sitting between the other two engines on the power scale is the Grand i10 with its 75hpand 190Nm. Interestingly, the Grand i10’s power and torque figures are now up by 4hp and 30Nm, courtesy a revised (readenlarged) engine under the bonnet. Engine displacement has been increased from 1,120cc to 1,186cc but the real performancegains come from a remapped Engine Control Unit (ECU) whilst a new alternator management system claims an improvement in fuelefficiency. Also note, the Ignis is a good 100kg-plus lighter than the Grand i10 and about 160kg lighter than the KUV100. These arethe specs on paper, but what are they like to drive?

If you’ve driven one diesel Maruti, you’ve driven them all. The Ignis carries forward the key traits of the engine ithosts. That is to say, there’s a distinct clatter at idle, noise levels are high through much of the rev range (it’s theloudest at max revs) and power only comes in earnest at about 2,000rpm when the turbo wakes up. There is a healthy dose ofpower between 2,000-4,000rpm but the engine doesn’t provide the same top-end zing on the Ignis as it does on a Swift andSwift Dzire, and that’s a bit of a downer. In the lower half of the rev range, you’ll also note the marked difference inperformance on and off turbo boost. The numbers reflect the same. For instance, the Ignis is the quickest car from 20-80kph in thirdgear but, without sufficient assistance from the turbo, it is also the slowest from 30-50kph in third.

Diametrically opposite in character is the KUV100’s engine. There’s minimal turbo lag and the engine pulls well fromabout 1,500rpm but there’s also no step up in power at any point. This is not an engine that rewards you for revving it hard,rather it’s one that works best on small throttle inputs and early upshifts. In that sense, the KUV100 works well in urbansettings. Adding to the experience is the joystick-like gear lever that offers slick and precise shifts. If only the clutch was a bit moreprogressive. Top-spec KUV diesels also get an efficiency-enhancing ‘Eco’ driving mode. Performance takes a big hitbut in rush-hour traffic where speeds are low, the Eco mode provides a clever way of saving fuel. Whatever mode you may be in,though, there’s no escaping the thrummy three-cylinder engine’s relatively high noise levels. The KUV has theloudest idle (albeit it’s the quietest at max revs at a standstill) and is also the noisiest at 50kph in fourth gear and 80kph infifth gear.

It’s the Grand i10’s engine that is the quietest in most scenarios but overall refinement has some low points too. Thethree-cylinder engine doesn’t sound great, and, at idle, you can feel vibrations at the steering, pedals and gear lever. Thingsdo smoothen out rather well as you get moving and it’s on the move you’ll experience how much of an improvementthe new engine is over the older one, which is largely thanks to the remapping of the ECU. As before, there’s no turbo lag tospeak of and power delivery is linear as ever and real-world performance is vastly better than the old car’s. Just have a lookat the improvement in in-gear times – 20-80kph in third gear takes 11.60sec compared to the earlier car’s time of14.24sec and 40-100kph in fourth gear is also down to 13.75sec (the quickest here) from the leisurely 17.23sec it took the older car.The powerband is wider than before too, but the best approach is to upshift early and make the most of the engine’seasy-going nature. The light clutch and smooth gearbox add greatly to the ease of use.

Hyundai claims the revised Grand i10 diesel is more fuel efficient too, and it is. The Grand i10 delivered 16.2kpl in town and 20.2kplon the highway, up 0.8kpl and 0.6kpl on the old car, respectively. The Ignis’ 20.4kpl figure makes it marginally more efficienton the highway though in-town economy is a lower 15kpl – perhaps reflecting the need to work the gears more. In the samecity and highway cycles, the relatively heavy KUV managed 13kpl and 17.3kpl.

The final tallyIf you have a large family and are comfortable with the idea of the front bench seat, the six-seat KUV100 should interest you. Wearen’t fans of the way it looks, but there’s no denying the Mahindra is a different take on the family hatchback. It alsomakes for a reasonably nice city car with decent performance in town and pleasant-enough ride quality. However, the KUVisn’t as refined as it ought to be and also misses out on many features. The KUV100 does have the lowest asking price of Rs7.21 lakh (ex-showroom, Delhi) but its lower fuel economy also points to higher running costs.

The Ignis, on the other hand, scores well on fuel economy like any Maruti should but is also uncharacteristically expensive. Sure,the top Ignis gets a lot of goodies and you get a superior buying experience at Maruti’s upscale Nexa dealerships which sellthe car, but Rs 7.8 lakh is just too much money for it. What is also is a bit of a disappointment is that, despite its uniqueexteriors andinteriors, the Ignis doesn’t feel a world apart from the other Marutis on sale. A part of the blame goes to the loud and clattery1.3 diesel that simply feels at odds with the otherwise modern Ignis.

And this leaves us with the Grand i10 that comes across as the most wholesome and sensible buy of this trio. With the recentupdate, Hyundai has built upon a good car and made it better still. Performance is greatly improved, ride quality is nicer and thereare more features on offer as well. The Grand i10 isn’t perfect, but for the justifiable Rs 7.36 lakh Hyundai wants for thetop-spec diesel, you will readily overlook the few weaknesses for what the rest of the package gets you. Over 10,000 buyers havebeen putting their money down on the Grand i10 each month. And By the look of things, that number could go up.

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What more does the Tata Tigor offer over the Tiago? Deccan Chronicle (Web Edition)

Tata Motors was the first automaker in the country to introduce the concept of hatchback-compact sedan duos with theIndica-based Indigo CS. Now, the automaker is all set to introduce a new sub-4m sedan, the Tigor. The Tigor is based on thepopular hatchback, Tiago and will slot in below the Zest in the company’s portfolio. However, the Tigor does have additionalfeatures over the Tiago. Let's have a look at them.

Design The Tigor borrows its design cues from the Tiago and it is evident, especially through its front profile. However, things get differentas we move towards the rear. Tata has done a good job in integrating a boot with the Tiago’s silhouette. It undoubtedlyfeatures one of the best rear profiles among compact sedans in the country. There is a very steep rake in its roofline, which almostmerges with the extremities of the boot, giving it a fastback-like design.

Though it shares its front profile with the Tiago, there are subtle changes. And that perhaps will justify its relatively higher expectedasking price compared to the hatch. The Tigor gets the same grille design that is there on the Tiago, but its hexagonal detailing ismore pronounced. The headlamps look similar, however, the Tigor comes with dual-barrel smoked projector head lamps. The sideprofile is identical except the extended boot, but the petrol version of the Tigor gets bigger tyres and new alloys. Since the rear ofboth the cars are different, there’s no comparison over there as such!

Dimensions Like the rest of the compact sedan-hatchback duos in India, the Tigor has larger footprints compared to the Tiago. It measures3992mm in overall length, which is a whopping 246mm more the hatch (3746mm). Similarly, it is wider as well, by 30mm (1677mm),compared to the hatch (1647mm). Its overall height is nearly identical. However, what really matters is the increased wheelbase ofthe Tigor as opposed to the Tiago's, there’s almost 50mm increment, which will result in increased rear cabin space. Also, itoffers 419 litres of boot space, which is 177 litres more than the Tiago's (242 litres). The difference equates nearly to the boot sizeof the Honda Brio, so the Tigor offers boot space that is equal to that of the Tiago and the Brio!

TigorLength: 3992mm (+246mm over the Tiago)Width: 1677mm (+30mm over the Tiago)Height: 1537mm (+2mm over the Tiago)Wheelbase: 2450mm (+50mm over the Tiago)Ground Clearance: 170mmBoot Space: 419-litres (+177-litres over the Tiago)

FeaturesThe Tata Tigor specifications looks similar to the Tiago along with a few exclusive ones.. To start with, the Tigor gets bigger wheels– 175/60 R15 (only with its petrol motor), while the Tiago comes with a size lower – 175/65 R14 (similar to the Tigordiesel). While the alloy wheels of the Tigor diesel are similar to that of the Tiago, its petrol counterpart comes with diamond-cutwheels.Unlike the Tiago, the Tigor gets LED tail lamps with graphics and a roof-mounted spoiler with an LED stop lamp spanning acrossthe width. And as mentioned in the design section, the Tigor gets smoked dual-barrel projector headlamps, while the Tiago comeswith multi-reflector halogen ones.

Though both the cars feature Tata’s ConnectNext Harman-powered infotainment system, the Tigor comes with atouch-based unit. It features a five-inch touchscreen with phone-based navigation (only Android OS) along with support for otherapps, including the Tiago’s JukeBox app (lets you share music playlist with other passengers), and others.

However, an eight-speaker system is common between the two cars. Additionally, the Tigor also features an automatic climatecontrol unit, rear hand rest with cup holders and an additional 12V charging socket, all of which are not offered with the Tiago.http://www.deccanchronicle.com/business/autos/210317/what-more-does-the-tata-tigor-offer-over-the-tiago.html

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Cars, SUVs, MUVs

Maruti Suzuki set to cross 15 lakh production milestone this fiscal Ronak ShahThe Economic Times (Web Edition)

New Delhi: India’s leading passenger vehicle manufacturer Maruti Suzuki is all set to cross the 15 lakh production milestonethis financial year.

As per data given by SIAM, during the period between April 2016-February 2017 the company manufactured a total of over 14.28lakh units and is looking to clock over 1.30 lakh units in March 2017 which will help the company to cross the 15-lakh productionmark. The company has 3 manufacturing plants one each in Gurgaon, Manesar and the latest one in Gujarat which commencedproduction this fiscal.

Currently, the annual capacity of Gujarat plant is 2.5 lakh units and the company commenced manufacturing at the facility in

February 2017. Maruti Suzuki’s Gurgaon plant manufactures 7 lakh units and Manesar plant rolls out about 8 lakh unitsannually.

Out of the total production, over 1.87 lakh units of Utility Vehicles were manufactured. Between the period April 2016-January 2017,Maruti Suzuki manufactured over 2.20 lakh units of Maruti Suzuki Alto, around 1.46 lakh units of Wagon R. In February 2017, MarutiSuzuki discontinued the production of diesel variants of its Celerio. However, the company produced 84,181 units of the hatchbackbetween April 2017-January 2017.

Company’s popular hatch Maruti Suzuki Swift saw a production of over 1.48 lakh units and is likely to cross the 1.80 lakhmark by the end of the on-going fiscal.

The company also claims to have sold over 10,000 units of Maruti Suzuki Ignis and have received over 12,000 bookings on themillennials focused car.

Sold through Nexa dealership, Maruti Suzuki Baleno production clocked over 1.38 lakh units. In the UV space the company rolledout 20,192 units and 89,099 units of Maruti Suzuki S-cross and Maruti Suzuki Vitara Brezza, respectively between April 2016 toJanuary 2017.

Mid-size sedan Maruti Suzuki Ciaz is currently dominating the mid-size sedan space in the on-going financial year. The companymanufactured a total of 57,269 units of Maruti Suzuki Ciaz which is 21.8% more than Honda City ’s production in the April2016 – January 2017 period.

The company also manufactured 57,325 units of its MPV Maruti Suzuki Ertiga.

Maruti Suzuki ‘s cumulative domestic sales between the period April 2016 – Feb 2017 stands at over 13.15 lakh unitsand cumulative exports in the same period is at about 1.10 lakh units till now in the ongoing financial year.

Hyundai Motor India in the period April 2016 – Feb 2017 has manufactured above 6.12 lakh units and is on track to cross the5 lakh domestic sales milestone once again this financial year.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/maruti-suzuki-set-to-cross-15-lakh-production-milestone-this-fiscal/57751171

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Maruti beats PV industry in growth clip for 5th consecutive year Nandini Sen GuptaThe Times of India (Web Edition)

Chennai: The financial year 2016-17 will be the third year in a row when car market leader Maruti Suzuki will be clocking an 11%growth and the fifth year that it will beat the passenger vehicle industry's growth curve. The company, which is targeting fourlaunches in the new fiscal — has also seen its marketshare grow from 39.4% to 47.6% between FY12-13 to FY16-17.

The company is looking to retain the momentum in FY17-18 as well, staying ahead of the industry growth curve, said top companyofficials. "In the last 2-3 years, we have attracted new categories of customers, those who were not considering us earlier. Ourrecent models like Baleno, Ciaz, Brezza Vitara and Ignis are doing well. The network, including Nexa, is growing. The Gujarat plantwill improve availability of vehicles. Building on all these, 2017-18 will be an important year in our medium term goal of 2 millionsales in 2020. Like in the past 4-5 years, we want to do better than the market this year as well," said Knichi Ayukawa, MD & CEOMaruti Suzuki.

According to sources, the company is expected to roll out the next-generation Swift and Dzire in the new year as well as an S Crossupgrade. Several other models will get nips and tucks along with new safety features which will become mandatory by October2017 onwards.

Maruti has seen its sales recover smartly from 0.3% growth in FY13-14 to hit 11% growth for the next 3 years.

Maruti's sales have actually jumped 25% and its marketshare has gone up by more than 8% in the last five years (see table). Thecompany clocked just over a million units in FY12-13 at 1051046 units which has hit 1315946 units by FY16-17 (upto February).Since 2014-15, the company has been adding over 100,000 units a year though analysts say it has to up the game to around anadditional 180,000 units or more to be able to hit 2 million by 2020. As per its parent's guidance, Maruti has committed to 15 newmodels and facelifts in the five years upto 2020 of which 8 have already been launched at the rate of 2 or 3 models a fiscal includingCiaz & Alto K-10 in 2014-15, S cross, Baleno, Brezza in 2015-16 and Ignis and Baleno RS in FY 16-17.

The company's marketshare gain has been the result of models that have moved away from its conventional segment of entry levelsmall cars into segments that are higher up the value chain. It's new premium channel Nexa has clocked cumulative volume of200,000 units and over 48% of these customers are additional car buyers, which means they are upgrading "either from competitionor are staying within the Maruti Suzuki fold", said a company official. Over 69% of NEXA customers mature buyers who may alreadyhave a car in the family.http://timesofindia.indiatimes.com/business/india-business/maruti-beats-pv-industry-in-growth-clip-for-5th-consecutive-year/articleshow/57760610.cms

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Honda Cars India hikes prices by up to Rs 10,000 across its product range baring WR-V The Economic Times (Web Edition)

New Delhi: Indian arm of Japanese car maker, Honda Cars India (HCIL) today in a press release announced a price hike on itsmodels by upto Rs 10,000. The revised prices will be effective from April 2017.

The prices of the newly launched Honda WR-V will remain unchanged.

Jnaneswar Sen, Sr Vice President, Marketing and Sales, Honda Cars India Ltd. said, "Due to the increase in freight charges andinput costs, we are forced to consider increasing the car prices for most of our models. The increased price will be effective fromfirst week of April 2017."

The company’s entire product portfolio including Honda Brio, Honda Jazz, Honda Amaze, Honda WR-V, Honda City, HondaBR-V, Honda CR-V and Honda Accord Hybrid will undergo a revision of prices says the company.http://auto.economictimes.indiatimes.com/news/passenger-vehicle/cars/honda-cars-india-hikes-prices-by-up-to-rs-10000-across-its-product-range-baring-wr-v/57755306Honda to hike prices by up to Rs 10,000Autocar Indiahttp://www.autocarindia.com/auto-news/honda-to-hike-prices-by-up-to-rs-10000-404486.aspxHonda cars india to hike prices by up to rs 10k from aprilThe Pioneer (Web & Print Edition)http://www.dailypioneer.com/business/honda-cars-india--to-hike-prices-by-up--to-rs-10k-from-april.htmlHonda Cars India to hike prices by up to Rs 10,000 from AprilDeccan Chronicle (Web Edition)http://www.deccanchronicle.com/business/autos/210317/honda-cars-india-to-hike-prices-by-up-to-rs-10000-from-april.htmlHonda Cars to hike prices by up to Rs 10k from AprilDeccan Herald (Web Edition)http://www.deccanherald.com/content/602505/honda-cars-hike-prices-up.htmlHonda Cars India to export Honda WR-V to Brazilminthttp://www.livemint.com/Companies/vVsrZjWWfwOHRy4XOnHBOO/Honda-Cars-India-to-export-Honda-WRV-to-Brazil.html

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Six Maruti models among top 10 best-selling PVs in February The Economic Times (Web Edition)

New Delhi: Maruti Suzuki India retained its leadership position in the domestic passenger vehicle market last month, with six of itsmodels featuring in the top 10 selling brands.

The company, which had five models in the top 10 selling passenger vehicles (PVs) list in February 2016, is driving towards a 50per cent market share in the segment.

According to the latest data from the Society of Indian Automobile Manufacturers (SIAM), Maruti's Alto retained the best-sellingmodel tag last month with 19,524 units as against 21,286 in February 2016.

The company's compact sedan Dzire was second with 14,039 units compared with 13,888 in February last year.

Compact car Wagon R was third, selling 13,555 units. The vehicle was in the also in third slot in the year-ago period with sales of14,209 units.

Hyundai's hatchback Grand i10 came in at fourth position with 12,862 units in February. It was sixth in February last year with salesof 8,898 units.

MSI's premium hatchback Swift came in at fifth position with 12,328 units in February. It was second in February last year with salesof 15,475 units.

Hyundai's premium hatchback Elite i20 was sixth last month with sale of 10,414 units. MSI's compact SUV Vitara Brezza settled atseventh position with sales of 10,046 units.

The eighth rank went to Renault's premium hatchback Kwid with 9,648 units last month. Hyundai's SUV Creta sold 9,002 units tobecome ninth while MSI's hatchback Celerio sold 8,315 units to round off the top ten list.

Mahindra's Bolero and MSI's Omni failed to make it to the top 10 last month. They had featured in the top ten passenger vehicleslist in the same period last year.http://economictimes.indiatimes.com/industry/auto/news/passenger-vehicle/six-maruti-models-among-top-10-best-selling-pvs-in-february/articleshow/57755294.cmsSix Maruti models among top 10 best-selling PVs in FebHindustan Times (Web Edition)http://www.hindustantimes.com/autos/six-maruti-models-among-top-10-best-selling-pvs-in-feb/story-ZuOsvQqyJC4wv9Sar3Eo2H.html6 Maruti models among top 10 best-selling PVs in Feb, Alto retains top spotBusiness Standard (Web & Print Edition)http://www.business-standard.com/article/companies/6-maruti-models-among-top-10-best-selling-pvs-in-feb-alto-retains-top-spot-117032100904_1.html  

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Nissan looks to revive India sales under Datsun brand Ketan Thakkar

The Economic Times (Web & Print Edition)

Mumbai: Innovation and styling will be central to Nissan Motor’s effort to revive sales under its Datsun nameplate in India.

The Japanese auto major’s valuecar brand, which is close to completing three years in India, is lagging expectations withsluggish growth. As against the target of selling 200,000 units in three years to end of FY17, Datsun has managed to sell only80,000 units so far.

Vincent Cobee, global head of the Datsun brand, told ET that the company aims to reinforce modernity, Japanese quality andstyling to carve a niche for itself in a segment, where its sister company, Renault, managed to break the stranglehold of leadersMaruti Suzuki and Hyundai with its premium compact car Kwid.

“In India, we are still in the learning phase. We are entering the lifecycle of the brand. We will continuously upgrade ourproducts,” said Cobee. “The Indian market leads on cost, features, service in the entry car space. As Datsun, we willtry to bring modern style, modern technologies quicker than the others.”

Datsun accounts for more than 50% of the cars that Nissan Motor India sells, and despite the stop-start attempt, Cobee is hopefulthat the brand will top 125,000 units in annual sales by the end of the decade, when the Indian market is expected to touch 5 millionunits.

Revived after three decades, Datsun has managed to sell about 250,000 units globally, significantly lower than what the companyexpected. India accounts for a third of that.

In a recent interview with ET, Carlos Ghosn, the global CEO of Renault Nissan, had said, “There is one key element that acarmaker needs to have right, and that is the product. No matter how strong the brand is, Indian consumers will discard the productif it is not right. This is the big lesson for us.” Ghosn was referring to Datsun, which relaunched in India, Indonesia andRussia in 2014 with a hatchback named Go.

According to people in the know, apart from exploring the launch of Go Cross SUV in India, Datsun will be looking at enhancing thestyle quotient of existing models with more connectivity features, automatic transmission and introduction of mild hybrid technologyover the next three to four years.http://economictimes.indiatimes.com/nissan-looks-to-revive-india-sales-under-datsun-brand/articleshow/57761702.cms

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GM's Halol workers on hunger strike, demand better VRS, jobs by SAIC Sohini DasBusiness Standard (Web & Print Edition)

Ahmedabad: The management-worker tussle at US-based car major General Motors' (GM) Halol site seems to be far from over, asaround 625 permanent workers at the site have now gone on a hunger strike demanding jobs from the buyer of the asset, China'sShanghai Automotive Industry Corp (SAIC), or a better VRS package.

Interestingly, the plant which is inching towards closure on April 28, is still making Taveras and Cruze. The workers have notdisrupted work at the site.

"We are demanding either a better VRS package, or we want the new owner to absorb us. They will need experienced workers atthe site, then why not us?," asked a senior worker at the site.

The company, on its part, has bettered the VRS package. Earlier, they had offered 40-days of pay per year of service plus gratuity.Now that has been increased to 100-days of pay per year of service. The deadline for accepting the VRS is also over in mid-March.Sources indicate that the company is now likely to issue mass transfer orders for workers to move to Talegaon. This roughly worksout to be around Rs 10-12 lakh per worker at Halol. The average salary of the permanent workers is around Rs 28,000-30,000 atHalol.

Since the average age of workers at Halol is around 35-36 years, many are not keen to accept the VRS offer. Worker sources,however, claimed that the VRS offered by the company is beneficial for managerial cadre employees and not workers.

Workers, however, are unwilling to move to Talegaon. GM India has already transferred around 300 workers to Talegaon.

The Chinese buyer is not ready to absorb the current set of workers at Halol. GM India, on its part, has formally announced earlierthis month that it would cease production from April 28, 2017. It is a part of its plan to consolidate manufacturing at its Talegaonplant, Maharashtra.

Sources in the state bureaucracy who are monitoring the developments closely said that no acquirer is bound by law to absorb thecurrent set of employees.http://www.business-standard.com/article/companies/gm-s-halol-workers-on-hunger-strike-demand-better-vrs-jobs-by-saic-117032101178_1.html

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Honda to export its latest product WR-V to Brazil PTISee this story in: Business Standard (Web Edition)

Chennai: Japanese automaker, Honda which has been shipping some of its models to the overseas market, would introduce itslatest product WR-V in Brazil, a top official said in Chennai on Tuesday.

The company, which launched the upgraded Sedan City last month would also bring its premium sedan "Civic" later this year,Honda Cars India, Senior VP, Jnaneswar Sen said.

"Already, we are exporting few of our existing models to neighbouring countries. This product (WR-V) may be exported to Brazil..,"he told reporters.

To a query on the launch of other models in India, Sen said, the company would bring in its premium sedan 'Civic' which was earliersuspended from production.

"Earlier, when we introduced the (premium sedan) Civic, we were selling about 2,000 units a month. Now, the volume of premiumsedan market itself is only 2,000 units," he said.

Responding to the launch of upgraded City last month, Sen said the company received 15,000 bookings of which 40 per centcomprised of the top end "ZX" variant.

Talking about the launch of WR-V, he said so far it has received 3,000 bookings.

On expansion plans, Sen said the company would increase its dealership network to 370 outlets from the present 336 units withmore focus on Tier II and III cities in 2017-18.

Sen and senior company officials were here to launch the latest "WR-V" priced at Rs 7.90 lakh (ex-showroom Chennai) for basemodel petrol variant while top end diesel variant is priced at Rs 10.15 lakh (ex-showroom Chennai).http://www.business-standard.com/article/companies/honda-to-export-its-latest-product-wr-v-to-brazil-117032100753_1.htmlHonda to export WR-V to BrazilThe Hindu  (Web & Print Edition)http://www.thehindu.com/todays-paper/tp-business/honda-to-export-wr-v-to-brazil/article17567312.ece

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Honda Cars plans to relaunch Civic The Hindu Business Line (Web & Print Edition)

Chennai: Honda Cars plans to launch some of its premium models in India, particularly relaunch of the Honda Civic, according toJnaneswar Sen, Senior Vice-President, Sales and Marketing, Honda Cars India.

Addressing media persons at the launch of the Honda WR-V, the compact SUV, in Chennai, he said the Civic had occupied a nichein premium segment and at peak sold about 2,000 units a month.

A decade since then, that segment is now at about 1,000 units a month.

Upgrades in adjacent segments, including the Honda City, had eaten into the premium segment. But Honda is looking at ways toexpand the segment, he said.

It is also eyeing the possibility of launching a version of the Mobilio, an MPV, which it has stopped production. The Mobilio has beenlaunched following a face lift in Indonesia and Honda considering bringing this version but there is “no decision yet” onthis, he said.

Over 3,000 Honda WR-V have been booked as of yesterday and the initial response is good, Sen said.

The company is targeting the product at the young buyers compared with young families in the age group of 30s and 40s opting forthe Honda Jazz which shares the same platform as the WR-V.

There are two variants each in the petrol and diesel versions.

The diesel version is available for Rs.10.15 lakh and Rs.8.94 lakh, and the petrol version at Rs.9.14 lakh and Rs.7.90 lakh inChennai.http://www.thehindubusinessline.com/companies/honda-to-relaunch-civic/article9594836.ece?ref=wl_news

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Luxury Cars

Mercedes-Benz partners Grow Trees to promote afforestation

The Economic Times

Pune: Luxury car manufacturer Mercedes-Benz India has partnered with Grow Trees to encourage afforestation. The company hasplanted 50,000 trees in eight villages covering two districts of Yavatmal and Amravati. The plantation of 50,000 trees has beencovered in 1,680 acres of land, informed the company in an official statement.

Mercedes-Benz India will present a certificate for 10 trees to each customer targeting an overall base of 5000 customers, makingthem aware about the ecological challenges and spreading the message of environmental awareness.

Roland Folger, Managing Director & CEO, Mercedes-Benz India commented, “Mercedes-Benz has always been anenvironmental conscious automotive brand. We want our customers and citizens in general to be aware about the environmentalchallenges like global warming and ecological changes. We have planted 50,000 trees that will offset the carbon footprint of ourproduction process."

"The plantation will bring significant changes in the lives of the villagers who will not only find a livelihood, but will also benefit fromthe increased vegetation in the area. This initiative will further create awareness about the ecological benefits of afforestation, thuscontributing to environmental sustenance,” Folger added.

Pradip P Shah, Chairman, Grow Trees said, “The association of Grow Trees and Mercedes-Benz India is another step whichenhances our efforts towards creating a greener planet. Grow Trees has been committed towards regeneration of degraded forestsand on extending vegetative cover on the uplands to reduce and reverse the devastating effects of soil erosion and run off of water."

"This project not only addresses such issues, but will also enhance the environmental conditions in the area but also provide indirectempowerment to rural-tribal communities in the nursery stage.”http://auto.economictimes.indiatimes.com/news/industry/mercedes-benz-partners-grow-trees-to-promote-afforestation/57752540

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Porsche 718 Boxster: Smaller engine, exceptional sports car Nikhil Bhatiyamint (Web & Print Edition)

The Boxster has been the quintessential convertible sports car. In its latest 718 iteration though, the sports car does away with itsglorious flat-six cylinder engines and is powered instead by a range of smaller, four-cylinder turbocharged engines. Turbochargersare typically associated with more power and performance, but Porsche is also using it for better efficiency and lower emissions. Buthas that spoilt the recipe for the perfect sports car?

The first impression isn’t particularly positive. The car feels a bit rough when in idle mode and the engine sound isn’tthe smoothest at low speeds. The question, “What has Porsche done?”, does cross our mind. Soon enough, the roadopens up and at the first press of the throttle, you’ll realize the acceleration is intense.

If you think of it, a turbocharged, four-cylinder, 2.0-litre petrol engine sounds like something out of an executive sedan, not aPorsche sports car. But before you are up in arms, have a look at the numbers. The small engine makes a strong 300 horsepowerand 380Nm torque, figures that compare well with the old Boxster S’ 315hp and 360Nm. Crucially, the 718’s4.9-second 0-100 kmph time makes it over half a second quicker than the older Boxster S.

As you would have guessed, it’s the turbo and the strong pulling power available from under 2,000 rpm that makes all thedifference. Power doesn’t build in a crescendo-like manner, as it did in the old car. It’s a bit unresponsive initially, andthen there’s a strong, sustained thrust until about 7,500 rpm. Where the Boxsters, old and new, do differ greatly is in howthey sound. The orchestra from the engine comprises boomy notes with pops when you lift off the throttle. As before, the brilliantseven-speed, dual-clutch PDK gearbox ensures you are always in the right gear. It’s super quick in shifts, andultra-responsive to manual inputs.

Handling is just sublime in the new Boxster, and because you are such an integral part of the experience, it doesn’tintimidate even at high speeds. It can hold through corners. The grip levels are fantastic, the brakes are beautifully calibrated and,importantly, ride quality and ground clearance are fairly good for what is a stiff sports car. The Boxster is a driver’s machineyou can use every day.

The seating position is low, but outside visibility is surprisingly good, making it easy to drive. Porsche has updated the cabin on the718 but the changes are not dramatic. The air-con vents are slightly different, the steering wheel is from the 918 supercar andthere’s a new touchscreen that is thankfully part of standard equipment. You will have to spend big for a better sound systemor sportier seats but that’s just the reality of doing up your Porsche. The stock seats hold you well but only the driver’sseat gets electric adjust.

Although the basic design is the same as the older Boxster, Porsche says the hood, windscreen and fabric roof (that takes 9.0seconds to fold/unfold) are the only bits carried over from the older car. However, the bi-xenon headlights with the four-point LEDDRLs (daytime running lamps) and larger air intake on the front bumper are the only things that really stand out as new at the front.At the rear, the new LED lights will catch your attention, and the car looks wider due to the dark strip that links the lights.

The best bit is that the smaller engine qualifies the 718 Boxster for tax breaks on imported cars with engines less than 3,000cc. AtRs85.53 lakh (ex-showroom, Delhi) then, the 718 Boxster is a good Rs20 lakh cheaper than the old Boxster S. The 718 Boxster isan exceptional sports car that will turn any preconceived notions you may have on downsizing and small engines on theirhead—it’s that good.http://www.livemint.com/Leisure/WbFch1Msr9RRzljr49o97I/Porsche-718-Boxster-Smaller-engine-exceptional-sports-car.html

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Commercial Vehicles

Commercial vehicles to pay tax to enter Chandigarh The Economic Times

Chandigarh: Cash-strapped municipal corporation (MC) in its house meeting on Monday unanimously resolved to levy entry tax oncommercial vehicles entering the city in a bid to improve revenue generation.

The civic body is working out modalities on pattern of the Delhi MC. The tax ranges between Rs 100 (taxi and other commercialvehicles) to Rs 800 (10-wheel trucks). The house, however, exempted ambulance, fire tenders, police and government vehicles.

According to the proposal, the MC would construct booths\barriers at the entry points for tax collection. It would also deploy squadsto keep a check on evaders.

Before starting the discussion, MC commissioner B Purushartha told the house of poor financial position of the corporation, whichheavily depends on grant from the UT administration.

For the next financial year, the administration has allocated grant in-aid of Rs 419 crore to the MC. Of the total amount, Rs 100crore is for smart city project and Rs 50 crore for Kajauli water works. Around Rs 300 crore will account for salaries, leaving a deficitof around Rs 30 crore. The corporation earns revenue of around Rs 120 crore. The per capita expenditure of Chandigarh MC is Rs5,381, of which proportion of own revenue to total expenditure is only 29 percent.

“The MC does not have sufficient to carry out development works. There is no option but to improve revenue generation ofthe corporation,” said Purushartha.

While supporting contention of MC commissioner, former Mayor and senior BJP councillor Arun Sood said time has come to taketough decision with an aim to generate funds which can be used for the welfare of city residents.http://auto.economictimes.indiatimes.com/news/policy/commercial-vehicles-to-pay-tax-to-enter-chandigarh/57752037

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Construction & Agri Machinery

2/3 Wheelers

Bajaj Group to open its first engineering college in Nagpur Vaibhav GanjapureThe Economic Times

Nagpur: Even as private engineering colleges are facing closure due to shortage of students, the Bajaj Group will open its firstengineering college at Wardha from next academic session (2017-18) in June.

The Bajaj Institute of Technology (BIT) would offer 300 seats across five branches. TOI had on April 9, 2010, first reported about theautomobile bellwether’s plans to open such a college, citing Shiksha Mandal secretary Sanjay Bhargava.

“We’ve received a proposal from Shiksha Mandal, which manages GS Colleges in Nagpur and Wardha. They weremaking efforts since last many years. The college would be coming up on land adjacent to the GS College on Arvi Road inWardha,” joint director of technical education Gulab Thakre told TOI.

Incidentally, a popular college — National Power Training Institute (NPTI) — catering exclusively to the power industry,has applied to stop admissions from next session, as it would be shuts operations.

Thakre said it was becoming difficult for NPTI to run the college, which is a private unaided one with 60 seats in power engineering,and their Delhi-based body had taken a decision to shut it down. “We would removing its name from the admission listaccordingly,” he said.

Bajaj Group’s colleges are well known for providing quality education at affordable cost with over 10,000 students and 250teachers on rolls. Out of seven colleges belonging to Shiksha Mandal, six are government aided including — GS College ofCommerce in Nagpur and Wardha, and JB College of Science, ASN Engineering Polytechnic, SKJ Grameen Seva Mahavidyalaya,Rural Institute and RB College of Agriculture — all in Wardha.http://auto.economictimes.indiatimes.com/news/industry/bajaj-group-to-open-its-first-engineering-college-in-nagpur/57750942

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TVS Motor's bikes to get new antilock brake system with grant of patent Gireesh BabuBusiness Standard

Chennai: TVS Motor has bagged a patent for its antilock brake system (ABS) for motorcycles. The new system helps to overcomethe problems, defects and drawbacks encountered in the previous models. The company is currently using the ABS technology inits high-end motorcycle TVS Apache, in collaboration with German component manufacturer Continental Corporation.

The company says that the presence of ABS in a motorcycle prevents locking of the front and rear wheels by automaticallyregulating the braking force acting on the front and rear wheels at the time of braking operation.

The patent application was filed in December 2009 and the company claimed that the said invention would substantially overcomethe problems, defects or drawbacks encountered in the known system.

It is also meant to adapt an anti-lock brake system control unit in a two-wheeled motorcycle having a tubular frame construction withleast modifications in comparison to the existing tubular frame construction without having a provision for ABS unit, it added.Another object of the invention is to locate the ABS unit near the centre of gravity in order to provide better stability to the vehicleand to optimise the brake performance by keeping, more or less, the same brake hose length for the front and rear.

The invention is also to locate the ABS unit in a way in which it is easy for servicing without the need for removing any nearby partsand to utilise the existing free space available within the vehicle body frame, where the ABS unit can be located.

The patent office raised initial objections such as that the claim does not have an inventive step in view of the previous inventionsand a person skilled in the art would be motivated to combine the available information from the previous documents to come to aconclusion similar to the claimed invention, among others.

The company claimed that the invention provided in the application has a technical advantage of maintaining a balanced centre ofgravity in the motorcycle by placing the ABS unit in a particular location in the vehicle — keeping it at the centre of the motorcycle.

This ensures equal distribution of the brake hose length between the front brakes and rear brakes, which in turn enhancesserviceability, it added.

The patent office, after considering the arguments and submissions, observed that the application meets the objections raised andis satisfied that the application complies with the requirements of the Act and found to be in order for grant of patent.

The company launched ABS in its flagship product Apache RTR 180 in the year 2011, in collaboration with Continental Corporation,according to reports. The company claimed that with the ABS technology, the motorcycle's stopping distance would be reduced by10-25 per cent on dry roads and around 20-30 per cent faster on wet roads.http://www.business-standard.com/article/companies/tvs-motor-s-bikes-to-get-new-antilock-brake-system-with-grant-of-patent-117032100192_1.html

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Big boost for TVS Motor, gets patent for new anti-lock brake system Sajan C KumarThe Financial Express

Chennai: In a leg-up to its product technology adaptation, TVS Motor Company has been granted a patent for its invention relatingto an improved anti-lock brake system (ABS) for motorcycles. The invention claims to have overcome the problems and drawbacksencountered in the known version of ABS system available in the market place for two wheelers.

The Chennai-based two-and- three-wheeler major claims that the ABS system provides increased stability and better control evenas it has been aptly placed to make the halting process hassle free.ABS in motorcycle prevents locking of the front and rear wheels by automatically regulating the braking force acting on the front andrear wheels at the time of braking operation. ABS, consists of a hydraulic-electronic control unit that controls the brake fluidpressure and a typical disc brake system, which includes master cylinders, connecting hoses and calipers for front and rear.

M Ajith, deputy controller of patents & designs, Chennai patent office, on Tuesday granted the patent, after satisfying with the claimssubmitted by the company during the hearing process.

TVS Motor had filed the application in December 2009 claiming technical advancement and inventive steps, over the knownanti-lock brake systems. According to a patent document filed by the company at the Chennai patent office, it was submitted thatthe new ABS will have a control unit comprising a tubular frame construction with least modifications when compared with theexisting tubular frame construction for motorcycles without a provision for ABS unit. The new invention places the ABS unit near thecentre of gravity in order to provide better stability to the vehicle and to optimise the braking performance by keeping more or lesssame brake hose length for the front and rear.

Besides, the ABS helps keep traction and avoid fall downs in the event of immediate braking. The invention locates the ABS unit ina way in which it is easy for servicing without the need for removing any near by parts and to utilise the existing free space availablewithin the vehicle body frame, where the ABS unit can be located.

The company, while responding to the initial objections raised by the patent office, argued that the subject matter provided in theapplication has a technical advantage of maintaining a balanced centre of gravity in the motorcycle by disposing the ABS unit to anintermediate portion of the obliquely downward portion of the main tube and the ABS unit is situated at the centre of the motorcycle.http://www.financialexpress.com/industry/big-boost-for-tvs-motor-gets-patent-for-new-anti-lock-brake-system/597536/

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Hero hands over 50 scooters to Gurugram women police under project ‘Sakhi’ The Financial Express

Hero MotoCorp has presented a total of 50 scooters to women officers of the Gurugram police under a women safety project called'Sakhi'. A similar gesture was carried out on the International Women's Day when Hero gave 24 scooters to the Uttarrakhand Policefor its first all-woman quick response system called 'Cheetah'. All scooters are equipped with sirens, police lights and PA systems,and will be used by women officers to patrol in cities. After the handover of the scooters a ‘Citizen Safety Bike Rally’was flagged off. A total of 100 riders participated in the rally, including the 50 women officers.

The keys to the scooters were handed over to the Commissioner of Police, Gurugram by head of CSR at Hero MotoCorp VijaySethi. “Two key areas of focus for Hero have been promoting road safety and women empowerment,” Sethi said.

“We have a variety of programmes running at national and regional levels and some of them are in association with the localpolice. We already have a strong partnership with the Haryana police through various initiatives and I'm confident that this newinitiative will allow our joint efforts to bring about effective changes,” he added.

Hero also plans to set up 'Traffic Parks’ at Gurugram, Delhi, Rourkela, Lucknow, Hyderabad and Nagpur, in order to helppromote road safety. These parks would have traffic simulators and conduct road safety programmes for schools or colleges.

In association with Haryana Police, HMCL runs a Student Police Cadets (SPC) programme, in which students from 50 schools inGurugram are enrolled in multiple activities to inculcate respect for law and community skills.http://www.financialexpress.com/auto/bike-news/hero-hands-over-50-scooters-to-gurugram-women-police-under-project-sakhi/596485/

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E-Bikes

Components

ACDelco introduces Cabin Air Filter at ACMA Automechanika The Economic Times

Mumbai: Supplier of light repair maintenance auto parts, ACDelco, a division of General Motors Technical Centre India in a pressrelease launched its exclusive ‘Cabin Air Filter’ product program in the 3rd Edition of the ACMA Automechanika showtoday.

ACDelco, is the sole parts brand for Chevrolet and other GM brands is one of the major global players in the automotive spare-partsbusiness and it recently celebrated 100 years of its presence in the Global aftermarket.

The newly launched Cabin Air Filters are made with high-quality multiple fiber layer media and are equipped to trap up to 95% dirt,dust, pollen and other pollutants claims the company. The filter facilitates improved airflow and aids defrosting performance of theA/C systems.

“Our constant endeavor is to provide world class products to our customers and create a niche in ‘all makes allmodels’ after-market business. We will strive to increase ACDelco’s footprint in India through new programs andadding more direct distributors, retailers and distribution centers”, said Markus Sternberg, Vice President, Aftersales &Customer Experience, Chevrolet India Pvt. Ltd.ACDelco’s premium aftermarket replacement cabin air filter is manufactured to meet the expectations for fit, form, andfunction. Its multiple layers create a more comfortable breathing environment within the vehicle, ensuring cleaner and fresher air.

Going ahead, the company is looking forward to grow & multiply its filtration revenue line at a prolific pace and has plans to roll out 6new product programs over the next few months.

“Keeping in mind the degrading cabin air quality which accounts for harmful air pollution, the new ‘Cabin AirFilter’ will meet the rising demand of the product in the passenger car segment. The filters are built to suit most of the new

generation vehicles today”, said Rajesh Nangia, Director ACDelco India.

In India, ACDelco established itself in 1997 as a part of the General Motors India initiative in the “All Makes AllModels” aftermarket parts business. ACDelco today supplies a diverse range of more than 1,000+ parts that majorly takes inlubricants, batteries, drive-shafts, oil, fuel and air filters, brake pads and wipers from its 9 distribution centers. It’s presencein, 20 states and 105 towns of India with close to 600+ direct wholesale distributors & 20,000+ retailers, demonstratesACDelco’ s strong foothold in the Indian sub-continent.http://auto.economictimes.indiatimes.com/news/auto-components/acdelco-introduces-cabin-air-filter-at-acma-automechanika/57754623

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PPAP Automotive appoints Abhishek Jain as CEO, MD The Economic Times

New Delhi: Indian auto components manufacturer PPAP Automotive has appointed Abhishek Jain as the Chief Executive Officerand Managing Director of the company for a period of five years with effect from April 1, 2017 - March 31, 2022.

The announcement has been made at the board meeting of the company held on March 17, 2017.

Abhishek Jain, who currently holds the position of Whole Time Director of PPAP Automotive, is the son of Ajay Kumar Jain,Chairman and Managing Director and Vinay Kumari Jain, Non-Executive Director of the company.

Abhishek Jain holds a degree of Bachelor of Science in Industrial Engineering from Purdue University, USA.

After gaining work experience in USA, he joined the company in 2003. Since then, he has been managing all the operations of theCompany. He has been an active executive of the Toyota Kirloskar Supplier Association for over 7 years. Currently, he is a memberof the executive committee of the Honda Suppliers Club.http://auto.economictimes.indiatimes.com/news/auto-components/ppap-automotive-appoints-abhishek-jain-as-ceo-md/57753305

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Allied Industries

Kotak Institutional raises target price on tyre maker Balkrishna Industries by 28% The Economic Times

Mumbai: Kotak Institutional Equities has raised target price on Balkrishna Industries by 28% to Rs 1,600 from Rs 1,250, and saidthat the company is well poised to benefit from uptick in industry demand.

The brokerage believes that the global off-highway tyre industry has bottomed out with visible signs of recovery.

"We believe BKT (Balkrishna) is well-placed to gain 200 bps market share over CY2016-19E led by (1) competitive pricing, (2) risingpresence in the OTR segment and (3) growth in the OEM (original equipment manufacturers') segment," said Kotak InstitutionalEquities.

Maintaining an 'add' rating, the brokerage said the valuations are reasonable at 13.6 times FY19 earnings per share given thestrong growth prospects, free cash flow generation and improving return ratios.

Shares of Balkrishna Industries were up 0.64% at Rs 1,442.10 in afternoon trade on the BSE.http://auto.economictimes.indiatimes.com/news/tyres/kotak-institutional-raises-target-price-on-tyre-maker-balkrishna-industries-by-28/57751972

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Repair bike to give mileage as advertised: Court to TVS Service Centre The Economic Times

Ahmedabad: Automobile companies should be more cautious in advertising about mileage of their vehicles. A consumer court hasdirected an auto company to repair and augment the mileage of a customer’s motorcycle to deliver the promise made inadvertisement claims.

The court has also asked the company to refund the price of the bike, if the customer is not satisfied with the mileage even after therepairing of the two-wheeler. The company has been asked to pay an initial Rs 10,000 to the customer towards compensation forharassment.

Even after this, if the customer is not satisfied with mileage, the company will have to return Rs 52,000 with 9% interest.

A senior citizen of Rajkot city, Gunvant Mehta, purchased a TVS Jupiter by paying Rs 52,150 in September 2014 from a localshowroom. The company sold the bike claiming that the model gives mileage of 62 km/litre. Mehta was not satisfied with the

mileage as the bike never ran 62km/litre. Even after repeated services, the mileage did not improve.

After initial communication with the company and the showroom, Mehta moved the Rajkot District Consumer Dispute RedressalForum and demanded the amount paid towards bike’s price be refunded because it did not give expected mileage. He alsoasked for Rs 54,000 towards petrol price as fuel consumption of the vehicle was too high.

During the hearing, the company placed a report of the bike’s mileage. In May 2015, the mileage was recorded at 43km/litre. It was 55 km/litre in September 2015, and 65.51 km/litre, much better than the promised figure, in March 2016. Mehta tookstrong objection to the company’s claim of 65.51 km/litre about the bike’s mileage, and reiterated that the mileagewas just 45 km/litre.

After hearing both sides, the court cited six orders passed by different consumer courts across the country on similar issues. Itnoted that in all these cases, the consumer courts have ordered auto companies to return the purchase price of the vehicle tocustomers. It also said that in not a single case pertaining to complaint of mileage, the court has ordered against the consumer.

The court asked Mehta to hand over the bike to TVS service centre for repair to augment the mileage and that the vehicle bereturned with a certificate issued by the company’s general manager.http://auto.economictimes.indiatimes.com/news/two-wheelers/motorcycles/repair-bike-to-give-mileage-as-advertised-court-to-tvs-service-centre/57744305

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JK Tyre among 13 cos awarded for using green manufacturing practices The Economic Times

Mumbai: JK Tyre Industries' Chennai plant has been awarded the second best company for adopting green manufacturing practicesand deploying sustainability by the International Research Institute for Manufacturing (IRIM), as informed by an official pressstatement.

Bharat Petroleum Corporation (BPCL) Mumbai refinery has bagged the top award, and Larsen and Toubro Rubber ProcessingMachinery in Kanchipuram, Chennai has received the third prize. Overall thirteen companies were recognised by IRIM.

Anand Louie, Director-IRIM welcomed the gathering and spoke about the Green manufacturing scenario in India and the need forcompanies to adopt green manufacturing practices. He emphasized on how an organisation can bring business growth whilecontributing to the betterment of the environment.

IRIM, as an unbiased third party evaluated and rated each company on its unique Green manufacturing barometer. This rating wasachieved through a structured assessment of the manufacturing facility on 15 indicators of IRIM’s Green Manufacturingframework.

The assessment was customised to each facility by assigning unique weightage to each of these indicators based onorganisation’s priorities to become more sustainable.http://auto.economictimes.indiatimes.com/news/industry/jk-tyre-among-13-cos-awarded-for-using-green-manufacturing-practices/57748870

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Tyre stocks likely to be next segment within auto ecosystem to see re-rating Ashutosh ShyamThe Economic Times

After staying sluggish for a year, tyre stocks are back on investors' radar given their cheaper valuations compared with other autoancillary stocks and waning threat of low cost import from China.

In addition, moderating prices of rubber, a major raw material, and the possibility of an anti-dumping duty on cheap imports aremaking these stocks more attractive. The Ministry of Commerce has called a meeting on March 28 to discuss an anti-dumping duty.

Tyres stocks have gained 13.5% on an average while the BSE Auto index earned 2.5% in one month.

The US Department of Commerce has decided not to impose anti-dumping duty on import of Chinese tyres for commercial vehiclesfor 2017 unlike in the previous year.

This has prompted Chinese manufacturers to route their products back to the US. As a result, cargos of Chinese tyres to Indiadropped to 155 in February 2017 from 455 in October 2016.

Also, fleet operators are finding imported tyres unattractive as their prices have increased by 2-5% in the past three months andcash billings have reduced significantly after the government's drive to replace high denomination currency notes since November8.

The share of imported tyres for commercial vehicles in the replace ment market had reached to 35-40% before November 2016.Commercial vehicles account for 55% of the total tyres market by revenue. Of this, nearly 60-65% is derived from the replacementmarket. Due to lacklustre performance in the past, valuations of tyre stocks are lower than that of auto-ancillary stocks.

The price-to-earnings (PE) multiple of stocks of auto-ancillaries, which provide fuel injectors, batteries, forged component and

polymer products, expanded by 50% since 2010 from their long-term average. However, the PE expansion for tyre companies waslimited to just 20% during the same period.

On an average, auto-ancillary stocks trade at 21 times their next fiscal's projected earnings, while tyre stocks trade at ninetimes.The key reason why tyres stocks are ascribed with lower multiples is that they are perceived to be commodity stocks with lesspricing power.

Interestingly , the current PEs of tyre stocks is lower than several commodity stocks. This has been a key reason for CLSA, abrokerage, to believe that tyres could potentially be the next segment within the auto ecosystem to see a rerating in valuationmultiples.http://auto.economictimes.indiatimes.com/news/tyres/tyre-stocks-likely-to-be-next-segment-within-auto-ecosystem-to-see-re-rating/57744778

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Emissions / Environment

Finance & Insurance

3-year third-party insurance premium at car registration? Dipak K DashThe Times of India

New Delhi: The national insurance regulator and General Insurance Corporation (GIC) will come out with a policy that will make itmandatory for everyone buying a new vehicle to pay third-party insurance premium for three and five years for cars and twowheelers, respectively , at the time of registration.

They will also design and market separate policies for third-party, owndamage and comprehensive vehicle insurance.This will allowvehicle owners to choose any of the products over and above the third-party insurance, which is mandatory .

It will also help states compel owners to have third party insurance for their vehicles.

Third-party insurance premium is only around one-third of the total premium one pays for composite insurance cover. InsuranceRegulatory and Development Authority (IRDA) and GIC assured these steps to a Supreme Court committee on road safety after thepanel made these recommendations.

These moves gain importance in view of the fact that over 45% of the vehicles plying on Indian roads are uninsured and victims ofroad crashes involving such vehicles run the risk of getting no compensation. This is far more critical as more than 60% oftwo-wheelers have no insurance cover and these vehicles are responsible for every fourth road death in India. GIC has told the SCpanel that till December end, about eight crore of the total 14 crore vehicles plying on roads had insurance cover. It has also urgedthe panel to instruct state governments to carry out checks and identification of uninsured vehicles on a quarterly basis.

Earlier this month, a parliamentary standing committee had recommended to the government to consider a framework to makethird-party insurance a one-time affair, as is the case with the vehicle registration tax. It had suggested that everyone buying a newvehicle should be made to pay the amount at the time of registration.http://timesofindia.indiatimes.com/india/3-year-third-party-insurance-premium-at-car-registration/articleshow/57763222.cms

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Oil, Lubricants & Alternative Fuels

Hindustan Petroleum to use Honeywell technology for its refinery expansion PTISee this story in: The Economic Times

New Delhi: State-owned Hindustan Petroleum (HPCL) has selected Honeywell's technologies for the expansion and modernisationof its refinery at Visakhapatnam in Andhra Pradesh.

Included in the project are licensing, basic engineering design and other associated services for a Penex isomerisation unit, whichhelps make cleaner burning high-octane gasoline, and a Unicracking hydrocracking unit to produce cleaner burning diesel fuel,Honeywell said in a statement.

"HPCL chose these solutions from Honeywell UOP due to their superior economics and our successful track record with thesetechnologies," said Steve Gimre, Managing Director, Honeywell UOP India. "UOP has licensed more than 160 Penex units, andmore than 220 Unicracking units more than any other licensor in these applications."

The Penex process upgrades light naphtha feedstock to produce isomerate, a cleaner gasoline blend-stock that does not contain

benzene, aromatics or olefins. The process uses Honeywell UOP's portfolio of proven, high-activity isomerization and benzenesaturation catalysts.

The Unicracking process uses highly effective catalysts, unit design and reactor internals to produce higher yields ofcleaner-burning fuels from a wider range of feedstocks.

"Together, the two processes will significantly enhance HPCL's ability to supply gasoline and diesel that meets the Indiangovernment's new Bharat Stage-VI clean fuels standard, and meets growing demand for those fuels. They also improve grossrefining margins by converting low value feed stocks to high-value transportation fuels," the statement said.

India's gross domestic product currently is growing at 7 to 8 per cent, driving robust growth in demand for gasoline -- particularly asautomobile sales increase and diesel fuel, driven by growth in commercial and agricultural production.

To meet tightening global emissions standards, the government has proposed a 35 per cent reduction in carbon emissions by 2030by adopting Euro-IV fuel specifications by 2017 and BS-VI (roughly equivalent to the Euro-VI specification) by 2020.http://auto.economictimes.indiatimes.com/news/oil-and-lubes/hindustan-petroleum-to-use-honeywell-technology-for-its-refinery-expansion/57757016

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Berkshire's Lubrizol to take majority stake in India joint venture ReutersSee this story in: The Economic Times

Lubrizol, the specialty chemicals unit of Warren Buffett's Berkshire Hathaway, said on Monday it plans to take majority control of itsIndian joint venture with state-run Indian Oil, boosting its stake to 74 percent from 50 percent.

India's Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, last Wednesday approved in principlethe sale to Lubrizol of 24 percent of Lubrizol India, Lubrizol said.

The Mumbai-based venture makes chemical additives for automotive and industrial lubricants, and the treatment of fuels.

Lubrizol did not disclose the terms of the transaction, but expects to complete the deal in a few weeks. The Wickliffe, Ohio-basedcompany has had a presence in India since 1966.

Berkshire bought Lubrizol for $9 billion in 2011. The Omaha, Nebraska-based parent has more than 90 business units, and Buffettnormally lets managers handle day-to-day decisions, including acquisitions.http://auto.economictimes.indiatimes.com/news/oil-and-lubes/berkshires-lubrizol-to-take-majority-stake-in-india-joint-venture/57751595

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Auto LPG body calls for gas price parity The Hindu

The nodal body for the promotion of auto LPG in India has called for uniformity in the treatment of domestic and commercial LPGunder the Goods and Services Tax regime, saying the current rules tax commercial LPG far higher than domestic LPG leading toadverse economic outcomes.

“Currently, the duties levied on commercial LPG are much higher than domestic LPG,” Suyash Gupta, directorgeneral of the Indian Auto LPG Coalition (IAC) said in a statement on Tuesday.

“In fact, there is zero custom and excise duty on domestic LPG and minimal VAT while the same are cumulatively as high as12-15% on commercial LPG,” he said.

In addition, Mr. Gupta said, consumers can avail of a subsidy on domestic LPG cylinders which gives rise to several issues since alarge number of domestic LPG cylinders are often diverted for commercial use in vehicles which is a misuse of the subsidy.

“Secondly, higher tax rates make auto LPG a less attractive option when its use needs to be encouraged by allmeans,” Mr. Gupta added.

Lower emissionsThe environmental benefits of using auto LPG as opposed to petrol or diesel are vast, according to IAC which said that it emits up to120 times lesser particulate emissions than diesel vehicles, 96% lesser nitrogen dioxides (NOx) than diesel, 68% lesser NOx thanpetrol and significantly lower NOx than CNG.

Cheaper cost“At the same time, it is much cheaper than petrol and diesel and very comparable to CNG,” IAG said. “Also,unlike CNG, auto LPG can be easily installed on two-wheelers as well. It is to be underlined that emissions from two-wheelers aremajor culprits for poor urban air quality.” “The government must initiate adequate measures to promote itsuse,” Mr. Gupta added.http://www.thehindu.com/todays-paper/tp-business/auto-lpg-body-calls-for-gas-price-parity/article17567322.ece

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Oil prices fall on bloated U.S. crude storage Henning GloysteinReutersSee this story in: The Times of India

Singapore: Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supplyoverhang despite an OPEC-led effort to cut output.

Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.92 per barrel at 0051 GMT, down 4 centsfrom their last close.

U.S. West Texas Intermediate (WTI) crude futures were down 8 cents at $48.16 a barrel.

"Crude oil prices fell as concerns over rising U.S. inventories resurfaced... Rising exports in Libya also weighed on prices," ANZbank said on Wednesday.

U.S. crude oil inventories rose by 4.5 million barrels in the week to March 17 to 533.6 million, the American Petroleum Institute (API)said late on Tuesday.

The bloated storage comes as U.S. oil production has risen over 8 percent since mid-2016 to more than 9.1 million barrels per day(bpd) to levels comparable in late 2014, when the oil market slump started.

Rising production in the United States and elsewhere, and bloated inventories, are undermining efforts led by the Organization ofthe Petroleum Exporting Countries (OPEC) to cut output and prop up prices.

"2017-19 is likely to see the largest increase in mega projects production in history," Goldman Sachs said in a note to clients onTuesday.

"Led by U.S. shales, (this) could create a material oversupply in 2018-19. As OPEC prepares for its May 25 meeting, it is likely toweigh the relative benefit of stability (extend the cut) vs. the risk of long-term (market) share loss," the bank added.http://timesofindia.indiatimes.com/business/international-business/oil-prices-fall-on-bloated-u-s-crude-storage/articleshow/57763240.cms

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Revival in car sales drives up crude bill R. SuryamurthyThe Telegraph (Web Edition)

New Delhi: India's crude oil import bill is expected to increase 11 per cent to $71 billion in 2016-17 because of increased demand forfuel, with car sales expected to touch 3 million this fiscal.

The import bill is likely to increase despite low prices till November when Opec decided to cut production. The spike in the globalcrude price since January would have an adverse impact on the current account deficit in the coming fiscal.

"The import bill of crude oil is estimated to increase 11 per cent from $64 billion in 2015-16 to $71 billion in 2016-17 considering theIndian basket crude oil price of $55 per barrel and the dollar-rupee exchange rate at 67 for the balance part of the financial year,"according to the Petroleum Planning and Analysis Cell (PPAC), the oil ministry's technical wing.

The PPAC said any upward change in the exchange rate or an increase in crude prices during the last quarter of 2016-17 wouldpush the crude import bill above the $71-billion mark.

A $1-per-barrel increase in oil price will jack up the net import bill by $0.27 billion and an increase in the exchange rate by Re 1 perdollar will result in the import bill inflating by $0.22 billion. Crude import fell 21 per cent to $112.7 billion in 2014-15 and 43 per centto $64 billion in 2015-16.

The current account deficit is expected to see a 50 per cent rise to $30 billion in 2017-18 from $20 billion in the current fiscal onhigher oil and gold imports, Icra said.

"Icra expects higher oil and gold imports to enlarge India's current account deficit to $30 billion (1.2 per cent of GDP) in 2017-18from $20 billion in 2016-17 (0.9 per cent of GDP), arresting the trend of moderation recorded for four consecutive years since2013-14," the rating agency said.

"We expect a rise in the prices and import volumes of crude oil and gold to enlarge the Indian current account deficit," Aditi Nayar,principal economist, Icra, said.

Since 2013-14, a combination of lower crude and gold imports has helped to curtail India's current account deficit, absorbing theimpact of declining merchandise exports, services trade surplus or remittances in some of these years.https://www.telegraphindia.com/1170322/jsp/business/story_141941.jsp#.WNHn-WOqBkg

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News Magazines

Jaguar F-Pace SVR under development Autocar India

Jaguar is working on a super-hot version of its first SUV model, called the F-Pace SVR. Expected to be revealed later this year, atest mule of the model has been spotted on international roads.

When launched, the F-Pace SVR will rival the likes of the Porsche Macan Turbo. It will share its engine with the F-Type SVR, whichmeans it will get a supercharged 5.0-litre V8 with up to 575hp and 700Nm on tap. A 0-100kph sprint time of 4.0sec is likely, whichwould beat the Macan Turbo’s 4.4sec time.

The bodywork fitted on the test mule suggests that the hot SUV will get an aggressive front spoiler, along with two huge air intakeson either side of the front number-plate. It will also get larger diameter wheels and wider tyres to signify its extra potency.

The Jaguar F-Pace SVR is expected to go on sale in international markets sometime next year.http://www.autocarindia.com/auto-news/jaguar-f-pace-svr-under-development-404481.aspx

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Jaguar F-Type GT4 racer in the works Autocar India

Reports have emerged online suggesting that Jaguar’s Special Vehicle Operations (SVO) division is developing an F-TypeCoupé GT4 racing model for competition use.

According to Autosport, the model will be the first GT competition car to be created in-house by Jaguar since the Le Mans-winningC-type and D-type models of the 1950s. The Jaguar GT4 team is being headed up by Graham Humphrys, who designed the LeMans-winning BMW V12 LMR from 1999. He recently worked on the Aston Martin Valkyrie with Adrian Newey and has GT3experience with Bentley.

Our sister publication Autocar UK contacted Jaguar for an official response to the news. It neither denied nor confirmed the claims,and instead stressed that the focus was on its electric single-seater Formula E racing team.

“Jaguar returned to international motorsport last year in the FIA Formula E Championship,” said a spokesman. "Thisis where we are focusing our motorsport activities with our Panasonic Jaguar Racing team."

Nevertheless, Autosport’s source claims the SVO project is being funded by Superdry clothing brand co-founder JamesHolder, with three cars being commissioned for the GT4 European Series.

This isn't the first time the F-Type has been considered for racing. Jaguar considered building a GT3 racing version of the car in2014 as well.http://www.autocarindia.com/auto-news/jaguar-f-type-gt4-racer-in-the-works-404480.aspx

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Mercedes S-class facelift to get autonomous tech Autocar India

Mercedes is providing its facelifted S-class luxury sedan an extended range of driver assistance systems, including advancedautonomous capabilities, when it launches internationally in the third quarter of 2017.

These systems include a newly developed Active Distance function that provides fully autonomous acceleration and braking overany given journey programmed into its satnav, in conjunction with an updated Active Speed Limit Assist system.

A revised Distronic cruise control system – which Mercedes says will eventually filter down into all of its future models– offers a new autonomous driving function that promises improved safety as well as a set-and-forget speed limit function.This function can adhere to both posted and temporary speed limits. Crucially, it is also able to autonomously adjust the speedaccording to the route, braking for corners, decelerating when approaching motorway exits and stopping when the driver indicatesto turn across the path of oncoming traffic.

Supporting the Distronic system is a new series of graphics, both within the instrument cluster and the optional heads up displayunit.

The new optional driver assistance system, which is accessed via buttons on a newly designed multi-function steering wheel, relieson an upgraded stereo camera mounted within the windscreen, with the two lenses moved further apart for improved definition toscan road signs. It also uses an improved long-range radar system capable of operating at up to 250 metres in front of the car tosupport the driver and autonomously stop the vehicle if it detects an obstacle.

It's able to provide anticipatory adjustments in speed on the basis of digital mapping data in the upgraded Comand Online 5.5

satnav and infotainment system. The mapping data – provided by the Here joint venture which is owned by Audi, BMW andMercedes – is described by Michael Hafner, the head of automated driving and active safety at Mercedes, as being“significantly more intelligent” than that of previous systems.

In a development touted as a key step on the way to full autonomous driving, the Active Distance function uses the data provided bythe digital mapping data to reduce speeds in bends, at roundabouts, junctions and tollbooths, stopping the car when necessary andthen autonomously speeding up again when the road conditions and speed limit allows for it.

The character of the autonomous functions can be altered through three modes via the S-class’ Dynamic Select system: Ecoprovides a conservative driving style for maximum fuel savings, Comfort aims for more serene progress and Sport is programmed tomaximise accelerative potential while providing later and more severe braking. Cornering speeds are also varied between the threemodes.

Mercedes’ latest autonomous cruise control function also controls the following distance to other vehicles within a speedrange of 0 to 211kph. To maximise fuel economy in Eco mode, it also engages the coasting function during periods of trailingthrottle, taking into account the speed limit and then autonomously braking to ensure that one remains within it.

Coupled with a revised Active Steering Assist function, the Active Distance function offered on the facelifted S-class also providesautonomous steering for periods of up to 30sec. Hafner says that the software controlling the autonomous steering function hasbeen extensively reworked, providing it with greater accuracy and improved fluidity.

Further driver assistance systems set to be adopted by the facelifted S-class include the Active Lane Change Assist, ActiveEmergency Stop Assist, Active Brake Assist and remote Parking Assist functions already offered on the E-class.http://www.autocarindia.com/auto-news/mercedes-s-class-facelift-to-get-autonomous-tech-404471.aspx

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Volkswagen develops virtual tech to speed up car design Autocar India

The Volkswagen Virtual Engineering Lab in Wolfsburg houses the future of the company’s car design process. Full ofscreens with software code running on them, the lab also contains a 1:4 scale model of the Golf. Frank Ostermann, a graduateengineer in computer engineering, inspects the model and uses voice commands and gestures to change its wheels, replace therear lights and modify the wing mirrors, all in a matter of seconds. Augmented reality makes it possible. The software required wasdeveloped in the Virtual Engineering Lab and the team's results could revolutionise the work of engineers and designers.

Ostermann wears the ‘HoloLens’ mixed-reality goggles; the mobile computer developed by Microsoft projects virtualcontent onto a physical object through gesture control and voice commands. Ostermann only needs to point his finger and theHoloLens projects a different paint colour onto the Golf, installs different wheels and modifies the fenders. Initially, the Golf is anR-Line model but it then becomes an entirely new version. Perhaps this model will appear at the dealership in six months' time.

Ostermann heads the Virtual Engineering Lab, at Volkswagen in Wolfsburg, which is one of six labs now operated by VolkswagenGroup IT in Wolfsburg, Berlin, Munich and San Francisco. The latest lab is currently starting operations in Barcelona. At these labs,specialists from Volkswagen are working on the digital future together with research institutions and technology partnerships. Newsolutions in the fields of big data, Industry 4.0, the Internet of Things, connectivity, mobility services and virtual reality are beingcreated in close cooperation.

“At Volkswagen, we have been using augmented reality and virtual reality for some time, mainly to obtain athree-dimensional view,” says Ostermann. “We are now taking a major step forward at the Virtual Engineering Lab.We are transforming this technology into a tool for Technical Development. This will allow Volkswagen engineers to work on avirtual vehicle, to change its equipment as they wish and even to design new components virtually. They will be able to see theresults of their work immediately.”

“We are cooperating very closely with our colleagues from Technical Development and are already close to the first newvehicle concepts and design studies,” Ostermann reports. “We contribute our know-how for technical productdevelopment and offer tailor-made solutions for all Group brands in the fields of virtual engineering and systemsengineering.”

Slashing time and development costsThe HoloLens software uses augmented and virtual reality to help save time and development costs by making each step in thedesign process faster and more efficient.

HoloLens not only projects each design or equipment change directly onto the physical model. It also allows several project teamsto work at the same time but at different places, for example teams from Wolfsburg, Chattanooga and Shanghai. All concernedalways have the current design model in view and time-consuming reworking, for example on a clay model, may become a thing ofthe past. "The teams can directly follow and compare minimal changes to the model and then make a decision. This means thatthey can reach their goal faster," explains Ostermann.

Currently, the HoloLens software is still in the trial phase. In future, it will allow users to call up the entire Volkswagen brand modelportfolio and to present different body versions of a model in all conceivable variants: the developers will then be able to transform asaloon virtually into an SUV, an estate car, a convertible or a coupe.

"Just a few years ago, this was all science fiction," says Ostermann. "Now it is clear that this is how we will be developing our nextmodels."http://www.autocarindia.com/auto-news/volkswagen-develops-virtual-tech-to-speed-up-car-design-404458.aspx

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International News

Polaris Industries to recall about 19,200 ATVs ReutersSee this story in: The Economic Times

New Delhi: Polaris Industries Inc is recalling about 19,200 all-terrain vehicles due to fire hazard and risk of injury, the U.S.Consumer Product Safety Commission said on Tuesday.

Polaris will recall all model year 2015 and 2016 Sportsman 850 and 1000 all-terrain vehicles, the U.S. consumer-safety regulatorsaid.

The right side panel heat shield in the ATVs can melt, posing burn and fire hazards to riders.

In addition, the exhaust springs can stretch and damage the exhaust seal in 2015 Sportsman 1000 ATVs, resulting in exhaust leaksthat could pose burn and fire hazards.

Polaris has received at least 793 incidents, including reports of warped, melted or burned side panels, 47 fires and four minor burninjuries, the regulator said.http://auto.economictimes.indiatimes.com/news/industry/polaris-industries-to-recall-about-19200-atvs/57759341

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BMW says UK remains important but Brexit uncertainty looms ReutersSee this story in: The Economic Times

Munich: German car manufacturer BMW , which owns the Mini brand, said the importance of Britain as a manufacturing locationhinged on how successfully it negotiates its exit from the European Union.

BMW's factory in Oxford is currently the main manufacturing hub for the Mini, but the introduction of punitive export tariffs betweenthe European Union and Britain could change that.

"The UK remains an important location for us. Much will depend on how Brexit is ultimately negotiated," BMW Chief ExecutiveHarald Krueger told journalists at a news conference.

"At the BMW Group, we are preparing different scenarios. Our production network offers us flexibility. Mini models are also built atVDL Nedcar in Born in the Netherlands," he added.

Krueger's comments comes as British Prime Minister Theresa May this week said she will trigger Britain's divorce proceedings withthe European Union on March 29.http://auto.economictimes.indiatimes.com/news/industry/bmw-says-uk-remains-important-but-brexit-uncertainty-looms/57757304

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BMW CEO expects China to clarify electric car policy in next weeks ReutersSee this story in: The Economic Times

Munich: BMW Chief Executive Harald Krueger said he expected Chinese authorities to soon clarify the size of a proposed quota forelectric cars as the German carmaker overhauls its production system to make more zero-emission vehicles.

"The rules have not yet been finalised. We will react accordingly. We expect clarity in the next weeks rather than months," Kruegertold journalists at the company's annual results news conference on Tuesday.

China has been discussing introducing a quota of having new energy vehicles (NEV) make up 8 percent of sales, which has beenmet with stiff resistance from auto makers.

Separately, Krueger said he had constructive discussions with US President Donald Trump in which he explained the importance offree trade so that the US. BMW factory in Spartanburg could still export 70 percent of its cars.http://auto.economictimes.indiatimes.com/news/industry/bmw-ceo-expects-china-to-clarify-electric-car-policy-in-next-weeks/57756720

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BMW Group to launch 40 new and revised models in next two years: Chairman The Economic Times

Munich: BMW group in a media release expressed its intend to continue its course of sustainable and profitable growth. Thecompany said that its core business will be strengthened by the targeted addition of new models and continued work on thestrategic areas of electric mobility and automated driving.

“Once again, we are targeting record sales volume, revenues and earnings in 2017,” stated Harald Krüger, Chairmanof the Board of Management of BMW AG in Munich on Tuesday. The BMW Group forecasts a slight increase in Automotivesegment deliveries to customers in the current financial year, which would result in a corresponding growth in segment revenues.Group profit before taxes is also expected to improve slightly.

“Leadership in innovation and sustainable profitability are the keys to our success. That’s why, we are fully focused onmeeting the wishes and needs of our customers, with the aim of igniting their enthusiasm for mobility day after day with appealingproducts and services,” Krüger commented.

With this in mind, the BMW Group will be refreshing its product portfolio significantly in the coming years. “We intend tolaunch more than 40 new and revised models of our three premium brands on the market during 2017 and 2018. The new productoffensive began successfully with the launch of the new BMW 5 Series in February, further raising the bar in the business sedansegment,” continued Krüger.

Particular emphasis will be placed on the top end of the premium segment. By 2020, the BMW Group is targeting significant salesvolume growth in this area with the addition of a number of new models, including the BMW X7, to complement the BMW 7 series.

“Sustainable profitability and innovation leadership go hand in hand. Drawing on our underlying operational strength, we aretherefore aiming to achieve an EBIT margin of between 8 and 10 percent in the Automotive segment for the eighth year insuccession,” stated Nicolas Peter, member of the Board of Management of BMW AG responsible for Finance. “Bymaintaining operational performance at a consistently high level, while at the same time focusing on the areas that are becomingincreasingly relevant for customers, we will continue to generate sufficient resources to finance the high upfront expenditure neededto shape tomorrow’s mobility.” The BMW Group is in an extremely strong financial position, with cash funds totalling €13,167 million at 31 December 2016 (2015: € 11,383 million). Free cash flow generated by the Automotive segment during thetwelve-month period then ended amounted to € 5,792 million (2015: € 5,404 million).

On its electrification strategy BMW Group believes that in the next decade will see dynamic changes in electric mobility. However,not all markets and segments will develop at the same pace and the actual outcome depends on a host of factors, includingregulatory requirements, which are very difficult to forecast today.

“A successful electrification strategy must be capable of dealing with a range of outcomes, including optimistic or morecautious scenarios. If we manage that, we will be able to reconcile sustainable mobility with sustainable profitability,” NicolasPeter commented.

The BMW Group established its I brand back in 2007 to focus on electric cars.

“Thanks to this approach by mid-2017 – less than four years after the launch of the BMW i3 – our range ofproducts will include eight plug-in hybrid models and we will deliver our 200,000th electric vehicle in the course of the year,”Krüger said.

In the meantime, the BMW Group has entered the second decade of its electrification strategy and is raising this exciting,sustainable form of mobility to new levels. BMW’s strategy of pursuing project i with its flagship technologies, while at thesame time creating flexible vehicle architectures to enable the seamless integration of different drivetrain systems, will therefore becontinued. In future, in addition to plug-in hybrid technology all-electric, battery-powered mobility will be incorporated in the BMWGroup’s brands said the media release.

“The all-electric MINI and the all-electric BMW X3 will mark the beginning of the second wave of electrification for the BMWGroup, benefitting from the ongoing technological progress we are making in this area,” Krüger said.

Testing highly automated driving in Europe and USA.

The BMW Group is also working on automated driving as part of its focus on ACES (Autonomous, Connected, Electrified andShared / Services). In co-operation with Intel and Mobileye, the BMW Group has drawn up a timetable for introducing highlyautomated driving with BMW iNEXT in 2021. The relevant technologies will be tested in city centres, including Munich, during thesecond half of the current year – manned at all times, of course, by a trained test driver in the driver's seat, ready to takecontrol at any time.

In 2017, the BMW Group will also be bundling its entire development expertise in the fields of vehicle connectivity and automateddriving at a new campus located in Unterschleißheim near Munich. Ultimately, the new site will be home to more than 2,000employees working on the next steps towards fully automated driving, ranging from software development to road testing.“Opting for this campus strengthens the role of Munich as a key location and underlines how the BMW Group and the entireregion can benefit from changes in the automobile industry,” Krüger stated.

BMW Group’s sales volume, revenues and earnings records in 2016:

2016 has been the most successful year for BMW Group in terms of sales and revenues and earnings. Automotive sales volumeclimbed by 5.3% by selling 2,367,603 units globally (2015: 2,247,485 units) in 2016. Company also claims that the sales ofelectrified vehicles almost doubled to over 62,000 units in 2016. Sales of the all-electric BMW i3 have risen every year since themodel was launched in 2013 and the BMW Group aims to sell a total of 100,000 electrified vehicles for the first time in a single year

in 2017.

BMW Motorrad:BMW Motorrad the two-wheeler division of BMW Group reported a 5.9% growth to 145,032 units (2015: 136,963 units). BMWMotorrad's five largest markets were Germany, the USA, France, Italy and Spain. As part of its new strategy, BMW Motorrad is inthe process of expanding its model range, having set a sales volume target of 200,000 units for 2020.http://auto.economictimes.indiatimes.com/news/industry/bmw-group-to-launch-40-new-and-revised-models-in-next-two-years-chairman/57753955BMW to launch 40 new, upgraded models in 2 years to challenge Mercedes-Benzminthttp://www.livemint.com/Companies/JwTrjAisfA2VoXFK0RkbjL/BMW-to-launch-new-X2-X7-SUVs-and-38-more-cars-to-challenge.html

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Fiat Chrysler boss says "waiting in anticipation" to meet Volkswagen chief ReutersSee this story in: The Economic Times

Geneva: Fiat Chrysler Chief Executive Sergio Marchionne said on Tuesday he was looking forward to meeting Volkswagen bossMatthias Mueller to discuss a possible tie-up between the two carmakers but added he hadn't seen his counterpart in six to sevenmonths.

Marchionne has long advocated car industry mergers to share the costs of making cleaner and more technologically advancedvehicles and has repeatedly relayed his desire via the media.

His comments on Tuesday came in response to a question about Mueller's suggestion last week that he did not rule out mergertalks between the German and Italian-American car manufacturers.

"We are waiting with anticipation," Marchionne told journalists on the sidelines of a meeting in Geneva.

"There are 4-5 of us (carmakers) at the global level, if something needs to be done, it will be done. I haven't seen Mueller in 6-7months, but I will go find him at the first opportunity."

The manager said his company's first quarter was going in line with expectations. He added the group was working with theauthorities in the United States to understand how the new system for emissions regulations will work.http://auto.economictimes.indiatimes.com/news/industry/fiat-chrysler-boss-says-waiting-in-anticipation-to-meet-volkswagen-chief/57757231

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Porsche has no information about Ferdinand Piech's stake sale talks ReutersSee this story in: The Economic Times

Stuttgart, Germany: Porsche, Volkswagen's majority shareholder, said it has no information about former Volkswagen chairmanFerdinand Piech's talks with the carmaker's controlling families about a possible sale of his stake.

"We are only informed about the fact that talks are happening," Porsche chief executive Hans Dieter Poetsch said on Tuesday atthe company's earnings press conference.

"We cannot even say whether there will be a result."

Should the negotiations of the Porsche and Piech families to buy a substantial part of Piech's 14.7 percent stake in Porschesucceed, such a move would have no impact on the holding company's ownership structure, Poetsch said.

"There will be no change to the fact that the voting shares will be held by the Porsche and Piech families," the CEO said.

Porsche is the group through which the billionaire Porsche and Piech families control 52.2 percent of the voting shares inVolkswagen, which is still dealing with the effects of its diesel emissions scandal.

Separately, Volkswagen chief executive Matthias Mueller said he has had no discussions to date with Fiat Chrysler Automobilesboss Sergio Marchionne about a possible tie-up.

Last week, the Volkswagen CEO left the door open to a potential merger with Fiat Chrysler, saying Europe's biggest automotivegroup was more open to partnerships than in the past.http://auto.economictimes.indiatimes.com/news/industry/porsche-has-no-information-about-ferdinand-piechs-stake-sale-talks/57756967

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Ferdinand Piech exit only small step to Volkswagen governance revamp ReutersSee this story in: The Economic Times

London: Ferdinand Piech's looming sale of his stake in Porsche - and indirectly in Volkswagen - marks the end of an era. The79-year-old former Volkswagen chief executive and chairman is set to make room for a younger generation of family members,Porsche flagged on Friday.

It's a step forward, but doesn't really address Volkswagen's bigger problem: flawed governance that gives inordinate weight to a fewprivileged shareholders.

At the heart of the matter is an intricate, two-layered structure of non-voting shares in Volkswagen and holding company Porsche.

The latter, which is itself publicly listed, owns 52.2 percent of Volkswagen's voting stock. Yet only half of the shares in Porsche bearvoting rights - and those are tightly held by the family.

This construction allows the Porsche and Piech clan to effectively control more than half of the voting rights in Volkswagen, despiteowning just 15.4 percent of the carmaker's economic interest. It exacerbates the related problem that the German state of LowerSaxony owns 20 percent voting rights and enjoys special veto rights.

Piech, who led Volkswagen as CEO and then chair between 1993 and 2015, was notorious for his autocratic leadership style, anengineer's obsession with technical perfection and a lust for corporate sprawl. He reigned over the purchases of truck makers MANand Scania and gained control over sports-car rival Porsche.

Two large corporate scandals happened during his tenure: a compliance scandal in 2005 that involved prostitutes and luxury tripsfor members of the workers' council, and the cheating of diesel emissions data that was uncovered a decade later. Over the last twoyears, he has fallen out with the family as well as other Volkswagen shareholders and its influential worker representatives.

Piech's retreat would soothe these conflicts. The fact that other family members have first refusal on his 14.7 percent voting stake inPorsche, worth at least 1.1 billion euros, should still be an improvement - they are more likely to think like shareholdervalue-focused investors than like empire-building engineers. But the existing governance structures will still mean that Volkswagenremains anything but a normal company.http://auto.economictimes.indiatimes.com/news/industry/opinion-ferdinand-piech-exit-only-small-step-to-volkswagen-governance-revamp/57751748

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BMW aims for slight increase in profit in 2017 ReutersSee this story in: The Economic Times

Munich: BMW aims to achieve record sales volume, revenues and earnings this year by ramping up production of highly profitablesports utility vehicles to help fund investments to overhaul its production system for fully electric cars.

"The fully electric drivetrain will be integrated into our core brands," Chief Executive Harald Krueger told a news conference onTuesday.

BMW's electric cars have until now been built on a separate, low-volume production line.

The group is targeting a slight rise in sales volume, revenues and group pretax profit this year, with a return on sales of 8 to 10percent in the automotive segment, Krueger said.

Earlier this month, BMW reported preliminary 2016 financial results, with earnings before interest and tax (EBIT) down 2.2 percentat 9.39 billion euros ($9.9 billion) even as revenues rose to a record 94.16 billion euros.http://auto.economictimes.indiatimes.com/news/industry/bmw-aims-for-slight-increase-in-profit-in-2017/57751674

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Locamerica buys Auto Ricci to create fleet rental firm in Brazil ReutersSee this story in: The Economic Times

Sao Paulo: Cia de Locacao das Americas agreed to acquire smaller rival Auto Ricci in cash and stock for about 176 million reais($57 million) on Monday, creating Brazil's largest fleet rental company, according to a securities filing and a person with knowledgeof the situation.

Under terms of the transaction, Locamerica will acquire the equivalent of a 33.7 percent stake in Ricci for about 54 million reais.Shareholders of Ricci will be paid the remaining amount at a ratio of 1.91 Ricci shares, which are not listed, per each of Locamerica,according to a securities filing.

According to the source, Ricci is being valued at 176 million reais, around 9.4 times its net income.

Ricci's controlling shareholder, Dirley Ricci, will hold a 17.7 percent stake in Locamerica and join the company's controlling blocalongside businessmen Luis Fernando Porto and Sergio Resende. Shareholders in Sao Paulo-based Locamerica will own 79percent of the combined entity, the person said.

The transaction is the latest in Brazil's buoyant car rental market, which in the past year has seen a flurry of stake purchases from

strategic players and also public offerings.

The bullish outlook for the industry underscores resilient demand for car rentals despite Brazil's longest and harshest recessionever, high unemployment and a slump in discretionary consumer and corporate spending.

Analysts have been raising their rental volume and fleet utilization ratio forecasts for this year, a sign that a gradual recovery inBrazil's economy is expected to gain traction.

After the acquisition, which is still pending regulatory approval, Locamerica will own 43,000 cars and earn 1.1 billion reais in annualrevenue - the most among fleet rental players.

"The merger will raise our scale and reduce costs," Locamerica's Chief Executive Officer Luis Fernando Porto told Reuters in aninterview. He declined to confirm the value of the deal and terms of the cash-and-stock transaction.http://auto.economictimes.indiatimes.com/news/aftermarket/locamerica-buys-auto-ricci-to-create-fleet-rental-firm-in-brazil/57750473

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Panasonic to take control of Spanish auto parts maker Ficosa ReutersSee this story in: The Economic Times

Tokyo: Japan's Panasonic on Tuesday said it has agreed to become majority owner of Spanish auto parts maker Ficosa as itbolsters its push into the automotive field.

Panasonic will buy an additional 20 percent of Ficosa - which has strengths in electronic automotive mirrors and other advancedsafety systems - from main shareholder Ficosa Inversion to raise its stake to 69 percent.

Panasonic, which bought 49 percent of Ficosa in 2015, did not disclose the value of the deal, which it said would be complete by theend of April pending regulatory approval.

Panasonic said it does not expect any substantial impact on earnings from the deal.

The move comes as Panasonic shifts focus to corporate clients to escape price competition in lower-margin consumer electronics.

Rival electronics makers are also moving further into the automotive industry. Samsung Electronics agreed in November to buyHarman International in an $8 billion deal.

Panasonic is targeting annual sales of 2 trillion yen ($17.76 billion) for its automotive business in the year ending March 2019, from1.3 trillion yen in the year ended March last year.http://auto.economictimes.indiatimes.com/news/auto-components/panasonic-to-take-control-of-spanish-auto-parts-maker-ficosa/57749814

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Rumors that hedge fund Elliott has bought Hyundai Motor stake not true ReutersSee this story in: The Economic Times

Seoul: Market rumours that US activist hedge fund Elliott Management has acquired a stake in South Korea's Hyundai Motor arenot true, a person familiar with the matter told Reuters on Tuesday.

Hyundai shares rose 8.6 percent on Tuesday after touching their highest level in 22 months on hopes that the broader HyundaiMotor Group will reorganise its ownership structure as well as on rumors that Elliott had acquired a stake.http://auto.economictimes.indiatimes.com/news/industry/rumors-that-hedge-fund-elliott-has-bought-hyundai-motor-stake-not-true/57749460

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Volkswagen Group global sales decline marginally in February 2017 The Economic Times

New Delhi: Volkswagen Group in a media released announced that in the first two months of the 2017, the company overalldelivered 1.5 million vehicles (including all brands) to its customers worldwide.

In February, the Volkswagen Group sold over 686,900 vehicles globally with its sales declining marginally by 0.9%. The companysold a total of 693,200 units in February 2016.

"February shows the different development of markets in the various regions. We are experiencing a tailwind in Central and EasternEurope as well as North America and were able to increase deliveries by the Group, in some cases significantly, in these regions.On the other hand, deliveries in Germany and the Asia-Pacific region remained below the previous year's level," said Fred Kappler,Head of Group Sales of Volkswagen Aktiengesellschaft, summarizing the figures for February. "However, we expect that we canonce again look forward to healthy growth in China this year. Together with our Group brands, we are working on qualitative

growth," Kappler added.

In Europe, the Group handed 620,100 vehicles over to its customers in the first two months of the year (+2.6 percent) including307,200 in February. In Central and Eastern Europe, Group deliveries in February grew by 11.6 percent to 55,500 vehicles. InRussia, the Group delivered 13,100 vehicles, an increase of 6.3 percent. In February, 251,700 vehicles were handed over tocustomers in Western Europe, including 97,400 units in the home market of Germany.

In North America, the Group delivered 67,300 vehicles in February, achieving growth of 8.0 percent. Of this figure, 42,800 deliverieswere recorded in the USA – a rise of 13.3 percent. In South America, the Group delivered 35,400 vehicles (+4.1 percent).

Deliveries in the Asia-Pacific region in February reached 248,400 vehicles. In total, 616,500 new vehicles were handed over tocustomers in the region in the first two months of the year. This figure included 223,000 new vehicles delivered to customers inChina in February, corresponding to a slight fall of 1.9 percent.

Global sales of Volkswagen Passenger cars declined by 2.6%, Audi's sales were down by 1.1%. However, Skoda, SEAT andPorsche contiuned to grow in February 2017.

Volkswagen Commercial Vehicles sold a total of 33,300 units world wide declining its sales by -6.4%. Scania and MAN trucksposted a global growth of 7.8% and 7.6% respectively.http://auto.economictimes.indiatimes.com/news/industry/volkswagen-group-global-sales-decline-marginally/57747881

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China's Geely set to post earnings jump as Volvo tech boosts sales ReutersSee this story in: The Economic Times

Beijing: China's Geely Automobile Holdings Ltd is set to post its biggest profit growth in eight years on Wednesday, as improvedproduct design and engineering following its 2010 purchase of Sweden's Volvo helped propel it to record sales.

Geely, which also owns the maker of London's black cabs, has already forecast a 31 percent jump in sales for the current year asaffordable models introduced after the Volvo acquisition, such as its GC9 sedan and Boyue sport-utility vehicle, exceed initialestimates.

Long seen as a no-frills brand, Geely has transformed itself into an automaker with up-market aspirations, using its Volvoresearch-and-development advantage to climb the sales table in the world's largest auto market where it ranks around seventh.

Come next year, Geely plans its next phase of expansion as it aims to become China's first automaker to market its own brand -new Volvo collaboration Lynk & Co - in developed markets, beginning with Europe and the United States.

Entering major markets with an unknown Chinese brand is an expensive risk, analysts say, but investors are unperturbed: Geely'sshare price has trebled over the past 12 months.

"It's a total turnaround story," said a fund manager at a Taiwan-based investment firm that bought a significant amount of Geelystock last year.

"Before it was just a normal domestic brand, but after several new product launches it successfully elevated its brand image," saidthe person who was not authorised to speak publicly on the firm's investments and so declined to be identified.

Geely's China sales grew 50 percent last year to 766,000 vehicles, powered by the GC9 and Boyue, as well as small cars featuringVolvo technology. It aims to top 1 million this year, though could sell far more depending on market conditions, a Geely official withdirect knowledge of the matter told Reuters.

For 2016, net profit likely doubled to 4.6 billion yuan ($666 million), its strongest growth since 2008, showed a Reuters poll of 31analyst estimates. The figure is set to rise 52 percent to 7 billion yuan in 2017, the poll showed.

To be sure, growth has come at a cost. Geely and parent Zhejiang Geely Holding Group Co Ltd have spent 10 billion yuan on R&Din each of the past three to four years, or about 15 percent of current revenue, said spokesman Victor Yang.

That compared with 2 billion yuan in 2015 at domestic rival BYD Co Ltd, showed Thomson Reuters data.

But Geely's domestic growth spurts could lessen as expansion in China's overall passenger car market slows following thereduction of subsidies for small-engine vehicles, adding impetus to any international push.

"The current focus of our work is firstly the pace of development in China and increasing our share of the Chinese auto market, thennext we can focus our work abroad," Geely Chairman Li Shufu told reporters in Beijing earlier this month.

But entering markets where the brand is unknown is a gamble, and it could take years to gain traction, said James Chao,Asia-Pacific chief of consultancy IHS Markit Automotive.

As there is plenty of room for growth in China, however, there is no need to be concerned about the move abroad, said fundmanagers at two investment firms that hold Geely stock.

"If they do well abroad it's a bonus, and if they don't then it's not a big reason to worry," one of the managers said.http://auto.economictimes.indiatimes.com/news/industry/chinas-geely-set-to-post-earnings-jump-as-volvo-tech-boosts-sales/57746586

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New connected services introduced on Volvo XC60 The Economic Times

New Delhi: Swedish car maker Volvo Cars, has announced a range of updates to its global connected services program andintroduction of Sensus in-car user interface, starting with the new Volvo XC60 and the company’s new 90 Series cars.

Volvo Cars’ in-car Delivery service, a part of the Volvo On Call smartphone app, which was launched in 2015 allowsone-time digital access for deliveries to your car, is set to expand to five additional countries during 2017.

“This is just the start. Our roll out of one of the most comprehensive and customer-relevant services in the industry is nowshifting up a gear and you will see more convenient and time-saving services offered to Volvo Cars’ customers in the comingmonths,” said Björn Annwall, Senior Vice President Global Consumer Experience at Volvo Car Group.

To support the addition of new services, Volvo On Call, the company’s connected smartphone app has undergone a totalredesign. The app is now one of the most widespread connected car platforms available today. It will be available in around 50countries by the end of 2017, covering more than 90 per cent of Volvo Cars’ global sales.

The organic growth in both penetration and popularity of the Volvo On Call app is based on an increasing desire amongst cardrivers to access car features and related services while not in their car. Volvo Cars’ approach with Volvo On Call is firmlybased on its commitment to make life easier for its drivers.

Volvo car owners can now send navigation destinations based on their calendar directly to their car, find nearby fuel stations andeven get help finding their car in large car parks or on unfamiliar city streets using the remote smartphone app.

According to the company, it has performed a graphical refinement of the Sensus user interface in the new XC60 and in its 90Series cars, improving usability while presenting a refreshed design.

“As we learn more about our customers’ interaction with our user interface we refine the logic and design to increaseease of use and enhance its appearance. The updated interface is focused on the navigation experience in the car which is one ofthe core applications,” said Ödgärd Andersson, Vice President Software & Electronics at Volvo Car Group.

The new Volvo On Call updates will apply to all new models across the brand and to Volvo On Call enabled cars back to 2012. TheSensus user interface design in the new XC60 will come pre-installed in new 90 Series cars. Existing 90 Series cars will be updatedat the next service.

“The role of Volvo On Call has changed from remote car access app to a platform that functions as the main entry point forVolvo Cars’ customers to an increasingly broad selection of connected services. We are at the forefront of this shift in cartechnology and service provision. Eventually you might not even need to own a Volvo to benefit from the services offered via theVolvo On Call smartphone app,” said Björn Annwall.http://auto.economictimes.indiatimes.com/news/auto-technology/new-connected-services-introduced-on-volvo-xc60/57746349

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Haute new metal revs up the competition at Geneva BloombergSee this story in: ET +

Lamborghini Huracan PerformanteThe Huracán Performante comes with more power, better Pirelli P Zero Corsa tires, a re-engineered suspension, and upgradedtraction control over its predecessors. It has 640 horsepower on a naturally aspirated V10 engine and a more stabilised,lightning-fast, sevenspeed, dual-clutch transmission.

Ferrari 812 SuperfastFerrari unveiled the speediest production car in its history. The 812 Superfast has a 12-cylinder, 800-horsepower engine thataccelerates to 100 km per hour in as little as 2.9 seconds. Priced at 292,000 ($308,000) in Italy, the new flagship is already sold outfor 2017.

Bentley EXP 12 Speed 6e ConceptWith this concept car, Bentley is exploring the possibility of a true all-electric vehicle for production. It's a separate endeavour fromthe recently promised plug-in hybrid Bentayga SUV, due in 2018.

Volkswagen SedricThe Sedric -derived from “self-driving car“ -has sensors galore. Drivers would be able to speak commands to tell thecar where to go and where to stop.

Lexus LS 500hThe LS 500h is an electricand gasolinefueled version of Lexus's flagship sedan, with a V6 gasoline engine paired with two electricmotors, a small lithium ion battery, and the equivalent of 354 horsepower on a multi-stage hybrid transmission that acts like a10-speed gearbox. It will go from 0 to 60 miles per hour in 5.4 seconds.

McLaren 720SMcLaren's latest mid-engine, rearwheel-drive two-seater is lighter and faster than the 650S, with a twin-turbocharged 4.0-litre V8engine and a weight of 2,828 pounds. It can hit 60 mph in 2.8 seconds and reach 124 mph in 7.8 seconds. Top speed is 212 mph. Itis expected to cost $290,000, about 5 per cent more than previous models.

Peugeot Instinct ConceptThis plug-in hybrid concept is a more pared-down version of the i-Cockpit that Peugeot first announced in 2010. Its large, five-spokewheels, colourful lighting, taillights and promised 300 horsepower are strong steps for the French automaker.

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Economy

Rupee rallies to 17-month high, up 6 paise at 65.30 PTISee this story in: The Economic Times

Mumbai: The rupee gained further ground against the US dollar to end at a nearly 17-month high of 65.30 in a fairly volatile tradingon increased selling of the American currency by exporters and banks.

A weak dollar in overseas markets largely supported the upmove despite a sell-off in local stocks. Strong capital inflows to equityand debt markets also provided support, forex traders said.

The greenback was broadly lower through the Asian session spooked by overnight comments from the Chicago Federal ReservePresident Charles Evans that the Fed was in no rush to raise interest rates again and may wait until at least June before decidingon another hike.

The home currency opened modestly lower at 65.40 from Monday's closing of 65.36 at the Interbank Foreign Exchange (forex)market and weakened further to 65.4450 due to fresh dollar purchases by importers.

However, selling of dollars by banks and some exporters helped the local unit to clock a smart recovery in late afternoon deals to hita fresh intra-day high of 65.21 before ending at 65.30, revealing a rise of 6 paise, or 0.09 per cent. Today's closing is nearly17-month high for the domestic currency, which had ended at 65.27 on October 30, 2015.

Yesterday, the rupee had closed 10 paise higher against the greenback.

The RBI, meanwhile fixed the reference rate for the dollar at 65.3117 and for the euro at 70.2950.

The US dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, dippedbelow the 100 mark for the first time since early February to trade sharply lower at 99.70.

In cross-currency trade, the rupee continued to drift against the British pound to end at 81.37 from 81.12 and remained subduedagainst the Japanese Yen and ended lower at 58.03 per 100 yens as compared to 57.91 yesterday.

It also fell back against the euro to finish at 70.58 from 70.29 earlier.http://economictimes.indiatimes.com/markets/forex/rupee-rallies-to-17-month-high-up-6-paise-at-65-30/articleshow/57756601.cms

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India Inc borrows $2.23 bn from foreign sources in February 2017 PTISee this story in: The Economic Times

Mumbai: Indian firms' borrowing from foreign sources stood at $2.23 billion in February 2017, RBI data showed today.

In February 2016, the domestic companies had raised more than $1.35 billion from overseas markets through external commercialborrowings (ECBs).

The two sets of numbers, however, are not comparable as the new data include money raised through rupee denominated bonds(RDBs) in overseas markets.

During the month, the Indian firms raised $1.01 billion through ECBs, using both automatic and approval routes. The rest of $1.22billion came through the RDB channel.

Under the approval route (ECB), Reliance Industries raised $550 million to refinance its earlier ECB loan.

Under the automatic one, JSW Steel raised $90 million for overseas acquisition, Tulip Diagnostics $64.33 million for refinancing ofrupee loans and Torrent Pharmaceuticals $45 million to refinance earlier ECB.

Major companies tapping the RBD route included Shriram Transport Finance ($648.52 million) for on-lending and ReNew Wind

Energy (Shivpur) ($174.43 million) for refinancing of rupee loans.

ReNew Wind Energy (Karnataka) borrowed $103.61 million for refinancing of rupee loans.http://economictimes.indiatimes.com/industry/banking/finance/india-inc-borrows-2-23-bn-from-foreign-sources-in-february-2017/articleshow/57756712.cms

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Sensex, Nifty50 end flat after choppy trade Swati VermaThe Economic Times

New Delhi: The domestic equity market closed in the negative territory for the second day in a row on Tuesday after heavy sellingwas witnessed on the pharma and banking counters.

The Nifty Pharma index closed a little over 2 per cent lower on worries of regulatory action against specific companies by the USFood and Drug Administration.

Shares of Divi’s Laboratories tanked 20 per cent in intraday trade after the company said the US health regulator had issuedan import alert on the products manufactured at one of its units in Visakhapatnam.

Banks developed cold feet after Morgan Stanley downgraded HDFC Bank and Axis Bank to ‘equal weight’, and cutICICI Bank and IDFC Bank to ‘underweight’.

The S&P BSE Sensex ended the day 33 points down at 29,485 with Axis Bank, Reliance Industries and ICICI Bank contributingmost to the fall. The 30-share index, which opened at 29,525 against the previous close of 29,518, hit an intraday high and low of29,585 and 29,380, respectively.

On similar lines, the broader Nifty50 index of the National Stock Exchange (NSE) closed 5 points down at 9,121.

“The market has been trending up since December. I think the market may just cool off this week,” Reuters quotedSacchidanand Uttekar, equity technical analyst at Motilal Oswal Securities, as saying.

In the sectoral landscape, pharma stocks bled the most, dragging S&P BSE Healthcare index down by 223 points to 15,327, thanksto a free fall in the shares of Divi’s Laboratories, Dr Reddy’s and Sun Pharma.

Global stocksAsian shares hit 21-month high on Tuesday while the dollar and US bond yields were on the back foot on the prospect of a lesshawkish than previously expected money policy trajectory of the US Fed.

Stocks closed slightly higher in China, but investors’ risk appetite was restrained amid growing signs of tighter liquidity in thebanking system, said a Reuters report.

The blue-chip CSI300 index rose 0.5 per cent to 3,466, while the Shanghai Composite Index added 0.3 per cent to 3,261.

Hong Kong stocks climbed to a near 20-month high, bolstered by continued inflows from Chinese investors and signs of recovery inthe global economy.

The benchmark Hang Seng index rose for the fourth straight day, adding 0.4 per cent to 24,593, its highest close since July 31,2015.

European markets opened higher. At the time of writing of this report, Britain's FTSE100 was trading 0.12 per cent lower at 7,420while Germany's DAX was trading at 12,061, up 0.08 per cent. French stocks were in the green with the headline CAC40 indextrading 0.28 per cent higher at 5,026.http://economictimes.indiatimes.com/markets/stocks/news/sensex-nifty50-end-flat-after-choppy-trade/articleshow/57752459.cms

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Closing

Last Financial Closing... 

Sensex  29,485.45 (-33.29)NSE  9,121.50 (-5.35)US$ spot Rs.65.28US$ Y.111.5900US$ 6 months Rs.Yen Rs.59Euro spot Rs.70.51

Gold (10gm) Rs.28,423Silver (1kg) Rs.41,282.00

Crude Oil (WTI)  Crude Oil (Brent) $52.07 (+0.44)

Scip on BSE Face Value (Rs)  Last Traded Value (Rs.)Apollo Tyres  1  204.95Asahi Ind  1  210.05Amara Raja B 1  862.80Ashok Leyland  1  88.75Bajaj Auto  10  2906.85Bharat Forge 2  1017.85Denso  1  Eicher Motor  10  24902.05Escorts  10  527.05Exide Ind  1  219.50Force Motors  10  4572.80Gabriel India  1  122.85Hero Motocor  2  3334.70Hind Motors  5  9.65Hi-Tech Gear  10  295.50Jay. Bh. Maruti  5  428.60

Jamna Auto 5  215.50JK Tyres & Inds  10 132.6 Kinetic Motors  10  Kinetic Engg  10  KOEL  2  398.95Kirloskar Br:  2  238.75LML Ltd  10  13.15L&T  2  1549.05Lumax Ind  10  1359.65Lumax Tech  10  458.65M&M  5  1294.40Maruti Suzuki  5  6076.30Motherson SS  1  370.10Minda Inds  2  432.60MRF  10  58045.15Omax Auto  10  78.00Rico Auto  1  57.70Sona Koyo St    1  81.70

SRF  10  1602.15Tata Motors  2  473.75 TVS Motors  1  438.60

 Scip on BSE Face Value (Rs)  Last Traded Value (Rs.)Bhushan Steel         2 53.95 Hindalco 1  198.30Hind Zinc 2  307.20JSW Ispat S. 10  Jind Steel 1  127.70JSW Steel 1  192.40Jindal Saw 2  84.90National Aluminium 5  73.25SAIL 10  63.20Tata Steel 10  496.40Visa Steel 10  20.75

Scip on BSE Face Value (Rs)  Last Traded Value (Rs.)Ambuja Cement 2  237.15

Binani Industries 10  71.15Birla Corp 10  703.40India Cement 10  163.70Prism Cement 10  101.55JK Cement 10  885.75Shree Cement 10  16302.05

 

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